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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#4467
Positioning
Market Dominance
Retail Trade
Retail
$131M
Lisa M. Harper
Torrid Holdings Inc. operates in women's plus-size apparel and intimates market in North America. As of January 29, 2022, it operated 624 stores in 50 U.S. states, Puerto Rico, and Canada. The company sells its products directly to consumers through its e-commerce platform and physical stores.
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X-AXIS: EV/EBITDA (LOWER = CHEAPER) | Y-AXIS: ROE (HIGHER = ELITE) | RED CIRCLE = CURV ANALYSIS TARGET
| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$ARCO Arcos Dorados Holdings Inc. | 73 | 85 | 89 | 65 | - | - | 29.1% | 5.1% | 46.8% | 7.3% | 3.3% | 3.2% | 3.4% | 153.0x | $1.5B | VS | |
$IMKTA INGLES MARKETS INC | 70 | 73 | 89 | 76 | 11.3x | 4.1x | 5.3% | 3.3% | 23.9% | 2.2% | 1.6% | -5.4% | 1.0% | 32.0x | $1.3B | VS | |
$SGU STAR GROUP, L.P. | 69 | 82 | 79 | 63 | - | - | 26.2% | 7.8% | 31.5% | 6.4% | 4.1% | 1.0% | 6.1% | 63.0x | $399M | VS | |
$EZPW EZCORP INC | 68 | 77 | 82 | 89 | 7.2x | 4.2x | 12.0% | 6.4% | 58.6% | 11.7% | 8.6% | 9.7% | 0.0% | 51.0x | $1.2B | VS | |
$HTHT H World Group Ltd | 68 | 91 | 44 | 84 | - | - | 24.9% | 4.9% | 100.0% | 21.8% | 13.0% | 6.2% | 2.9% | 45.0x | $101.1B | VS | |
$DDL Dingdong (Cayman) Ltd | 68 | 86 | 82 | 57 | - | - | 42.4% | 4.0% | 100.0% | 0.9% | 1.3% | 12.3% | 0.0% | 201.0x | $1.2B | VS | |
$SBH Sally Beauty Holdings, Inc. | 68 | 83 | 92 | 77 | 5.1x | 2.3x | 27.5% | 6.9% | 51.6% | 8.9% | 5.3% | -0.4% | 0.0% | 177.0x | $1.6B | VS | |
$SPH SUBURBAN PROPANE PARTNERS LP | 67 | 80 | 90 | 53 | - | 13.0x | 18.6% | 4.7% | 60.7% | 14.4% | 7.4% | 7.9% | 7.1% | 202.0x | $1.2B | VS | |
$IHG INTERCONTINENTAL HOTELS GROUP PLC /NEW/ | 67 | 63 | 81 | 67 | - | - | -29.5% | 13.1% | 58.6% | 40.7% | 27.4% | 6.8% | 1.3% | - | $21.5B | VS | |
$ROST ROSS STORES, INC. | 67 | 63 | 55 | 83 | 25.2x | 16.5x | 34.8% | 13.3% | 28.0% | 11.6% | 9.1% | 10.4% | 1.0% | 26.0x | $51.6B | VS | |
$CURV Torrid Holdings Inc. | 31 | 43 | 27 | 6 | 7.5x | 7.2x | - | 3.5% | 37.1% | 5.0% | 1.3% | -6.1% | 0.0% | - | $131M | ||
| SECTOR BENCH | - | - | - | - | - | 21.4x | 9.1x | 8.9% | 2.9% | 36.2% | 3.9% | 1.6% | 3.8% | 0.0% | 0.6x | - | REF |
Torrid Holdings Inc. (CURV) receives a "Avoid" rating with a composite score of 31.0/100. It ranks #4467 out of 7,333 stocks in our coverage universe and carries a 1-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
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YOY expansion rate
Core pricing power
Operating efficiency
Bottom-line conversion
Asset base utilization
Direct cash return
Lisa M. Harper
Chief Executive Officer
Labor Force
2,060
43
50
31
Audit Verdict: Lower quality and stability scores may indicate governance concerns.
No recent insider transactions available for CURV
Lagging peers — losers tend to keep underperforming
Expensive relative to fundamentals — limited margin of safety
Average quality profile
High volatility — wider range of outcomes increases timing risk
Moderate investment profile
Below-average composite — caution warranted
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Relative valuation derived from Retail Trade sector benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Re-calculated daily.
Projection based on user-defined inputs. Re-calculated daily against current market data.
Reverse DCF Framework — Mauboussin Methodology
Institutional-grade Reverse DCF analysis. This model identifies the growth hurdles embedded in current market prices. When implied growth is significantly lower than historical or projected rates, a margin of safety may exist. Re-audited daily.
No analyst ratings for CURV.
View All RatingsMaterial decline in asset turnover efficiency detected
High margin volatility — erratic forensic earnings quality
| Factor | Global | Sector | Tilt |
|---|---|---|---|
| PROFITABILITY | 43 | 35 | +8ALPHA |
| MOMENTUM | 6 | 2 | +4NEUTRAL |
| VALUATION | 27 | 18 | +9ALPHA |
| INVESTMENT | 50 | 90 | -40DRAG |
| STABILITY | 31 | 26 | +5NEUTRAL |
| SHORT INT | 23 | 11 | +12ALPHA |
Global = full universe. Sector = relative to industry peers. Positive tilt indicates idiosyncratic strength.
ROIC 3.7% vs WACC 6.2% (spread -2.5%)
GM 37% vs sector 36%, OM 5% vs sector 4%
Capital turnover 1.00x
Rev growth -6%, 5yr history
Interest coverage N/A, Net debt/EBITDA 25.9x
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
Our quantitative model flags Torrid Holdings Inc. with an Avoid rating, assigning a composite score of 31.0/100 and 1 out of 5 stars. Ranked #4467 of 7,333 stocks, CURV falls in the bottom tier across key factors. Historically, stocks with this profile have faced elevated risk of underperformance and capital loss.
CURV's quality score of 43/100 is below average, suggesting challenges with profitability or capital efficiency. The company reports gross margins of 37.1% (sector avg: 36.2%), net margins of 1.3% (sector avg: 1.6%). Investors should examine whether management is actively addressing these weaknesses or if they reflect structural industry headwinds.
CURV registers a value score of just 27/100, suggesting the stock trades at a significant premium to its fundamental metrics. Key valuation metrics include a P/E ratio of 7.45x, an EV/EBITDA of 7.24x. High-premium valuations like this require strong future execution to avoid multiple compression, and downside risk is elevated if growth disappoints.
With an investment score of 50/100, CURV exhibits moderate growth-oriented spending. Key growth metrics include revenue growth of -6.1% vs. a sector average of 3.8% and a return on assets of 3.5% (sector: 2.9%). The company appears to be balancing growth investments with capital returns, though the pace of investment may not be enough to accelerate top-line growth meaningfully.
Torrid Holdings Inc. is experiencing notably weak momentum with a score of just 6/100. The stock has underperformed its peers and is trending below major moving averages. Revenue growth stands at -6.1% year-over-year, while a beta of 1.08 reflects its sensitivity to broader market moves. While deep momentum weakness can occasionally present value opportunities, it often reflects deteriorating fundamentals or structural headwinds that may persist.
CURV's stability score of 31/100 signals elevated volatility and/or leverage concerns. Key stability metrics include a beta of 1.08. Investors should be prepared for wider-than-average price swings and consider position sizing accordingly to manage portfolio risk.
Torrid Holdings Inc.'s short interest score of 23/100 reveals significant bearish positioning, suggesting institutional investors are actively betting against the stock. Specific risk factors include micro-cap liquidity risk. At $131M (micro-cap), CURV carries meaningful risk and is best suited for investors with high risk tolerance who have thoroughly evaluated the bear thesis.
Torrid Holdings Inc. is a micro-cap company in the Retail Trade sector, ranked #0 of 50 in its sector (100th percentile) and #4467 of 7,333 overall (39th percentile). Key comparisons include operating margins of 5.0% above the 3.9% sector average. This top-quartile standing reflects exceptional competitive strength relative to Retail Trade peers.
While CURV currently exhibits a AVOID profile, superior opportunities exist within the RETAIL TRADE sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
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Improvement in Momentum (6) would have the largest impact on the composite score.
EV/EBITDA 20% BELOW SECTOR MEDIAN (FAVORABLE)
Gross Margin IN LINE WITH SECTOR BENCHMARKS
Op. Margin 26% ABOVE SECTOR MEDIAN (FAVORABLE)
AUDIT DATA AS OF AUG 2, 2025 (Q2 FY2025)
We rate Torrid Holdings Inc. (CURV) as Avoid with a composite score of 31.0/100 at a current price of $1.04. The stock falls in the bottom quintile of our universe across key quantitative factors, and the multi-factor weakness suggests a high probability of continued underperformance.
The rating is primarily driven by strength in investment (50th percentile) and quality (43th percentile), which together account for the majority of the composite score. Offsetting weakness in momentum (6th percentile) and value (27th percentile) tempers our overall conviction. We assign a No Moat rating (23/100), Medium uncertainty, and Poor capital allocation.
Key items to watch: momentum to confirm whether the current price trend has legs; valuation compression risk if growth disappoints. Any material change in these dynamics could warrant a reassessment of our rating. The moat trend is stable, which suggests the competitive landscape is stable for now.
Torrid Holdings Inc. holds a top-quartile position (#0 of 50) within the Retail Trade sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 31.0/100 places it at rank #4467 in our full 7,333-stock universe. At $131M in market capitalization, Torrid Holdings Inc. is a small-cap player in the Retail Trade space, which limits certain scale advantages but may allow for more agile strategic execution.
Revenue contraction of -6% combined with momentum at the 6th percentile paints a cautious picture of the near-term business outlook. The market appears to be pricing in continued challenges, and a catalyst for reversal is not clearly visible from current data.
The margin cascade tells an important story: gross margins of 37% (+0.9pp vs sector) narrow to operating margins of 5% (+1.0pp vs sector) and net margins of 1.3%, yielding a gross-to-net conversion rate of 4%. The significant margin erosion from gross to net suggests elevated operating expenses, high interest costs, or other structural drags that warrant monitoring.
At a current price of $1.04, Torrid Holdings Inc. is trading at a premium to fundamental value. Our value factor score of 27/100 reflects a composite assessment across multiple valuation metrics including price-to-earnings, price-to-book, EV/EBITDA, and price-to-sales ratios relative to both sector peers and the broader market. The premium valuation implies the market is pricing in significant future growth or quality improvements that are not yet fully reflected in current fundamentals.
The stock currently trades at a P/E of 7.5x (a 65% discount to the sector median of 21.4x), EV/EBITDA of 7.2x (discounted to peers), P/S of 0.1x. The below-sector P/E suggests possible undervaluation or the market pricing in near-term headwinds.
The stock may offer contrarian value if near-term headwinds prove transitory — the current weakness in factor scores may reverse if business fundamentals stabilize.
The Avoid rating (composite 31.0/100) reflects multi-factor weakness, and historically, stocks in this scoring range have underperformed the market by a meaningful margin.
Revenue decline of -6% signals business deterioration — declining revenues make it difficult to grow into the current valuation and often precede further negative revisions.
Thin net margins of 1.3% provide limited cushion against cost pressures, competitive pricing, or macroeconomic headwinds — even small changes in costs could swing the company to a loss.
Weak momentum (6th percentile) suggests institutional selling pressure and unfavorable technical dynamics that may persist.
We assign a Medium uncertainty rating to Torrid Holdings Inc.. The stock presents a balanced risk profile: below-average price stability (31th percentile). While not risk-free, the core business fundamentals are adequate to withstand moderate economic stress, and the range of potential outcomes around our fair value estimate is manageable.
Specific risk factors that inform our assessment include: below-average price stability (31th percentile). Each of these factors independently widens the distribution of potential outcomes, and in combination they create a risk profile that demands careful position sizing. The stability factor at the 31th percentile and quality factor at the 43th percentile provide a quantitative summary of the overall risk landscape.
We identify limited risk mitigants at this time, which contributes to our medium uncertainty assessment. Investors should monitor for improvement in balance sheet metrics, margin stability, and business predictability that could warrant a downgrade in our risk assessment over time.
We rate Torrid Holdings Inc.'s capital allocation as Poor. Key concerns include suboptimal returns on capital. Exemplary capital allocators generate ROE above 20% and maintain conservative leverage — Torrid Holdings Inc. significantly underperforms these benchmarks, raising questions about management's ability to create shareholder value.
Investors should scrutinize management's reinvestment decisions and balance sheet trajectory before committing capital. Poor capital allocation often compounds over time: overlevered balance sheets limit strategic flexibility, while low returns on capital destroy shareholder value. We would need to see sustained improvement in profitability metrics and balance sheet discipline before considering an upgrade.
In summary, Torrid Holdings Inc. receives a Avoid rating with a composite score of 31.0/100 (rank #4467 of 7,333). Our quantitative framework assigns a No Moat (23/100, trend: stable), Medium uncertainty, and Poor capital allocation. The average factor score across quality, value, momentum, stability, and investment is 31/100.
Our analysis does not support a constructive view on Torrid Holdings Inc. at this time. The combination of limited competitive advantages, medium uncertainty, and poor capital allocation suggests unfavorable risk-reward at current levels. We recommend investors avoid new positions and existing holders consider reducing exposure.
Analysis derived from Blank Capital Research quantitative terminal. For informational purposes only. No trade solicitation. Past performance not indicative of future results. Consult a qualified advisor.
We do not assign Torrid Holdings Inc. a meaningful economic moat, scoring 23/100 on our composite assessment. The ROIC-WACC spread of -2.5% is the primary signal of economic value creation. Current fundamentals do not demonstrate the kind of durable competitive advantages — such as superior returns on invested capital, margin superiority, or reinvestment efficiency — that would protect the company from competitive erosion over the long term. The highest-scoring pillar, margin superiority, reached only 12.9/20.
The strongest moat sources are margin superiority (12.9/20) and economic value creation (4.2/20). GM 37% vs sector 36%, OM 5% vs sector 4%. ROIC 3.7% vs WACC 6.2% (spread -2.5%). These pillars form the core of Torrid Holdings Inc.'s competitive identity and are the primary drivers of excess returns in our framework.
Areas of relative weakness include growth durability (1.4/20) and reinvestment efficiency (2/20). Rev growth -6%, 5yr history. Improvement in these areas could meaningfully widen the moat over time, while deterioration would be an early warning of competitive erosion.
Our moat trend assessment is Stable. Multi-year ROIC and operating margin trajectories show neither meaningful improvement nor deterioration, suggesting the competitive position is steady. We expect Torrid Holdings Inc.'s moat profile to remain largely unchanged absent a material shift in return on capital or industry dynamics.
Key profit drivers include gross margins of 37% providing a solid profitability foundation, declining revenues (-6%) that pressure the earnings outlook. The margin cascade from 37% gross to 5% operating to 1.3% net reveals the company's cost structure and reinvestment intensity. Our analysis indicates that profit quality is adequate though not exceptional, with the quality factor at the 43th percentile.
The margin profile shows gross margins of 37%, operating margins of 5%, net margins of 1.3%. Return metrics include ROA of 3.5%. Relative to the Retail Trade sector, gross margins are 0.9 percentage points above the sector median of 36%.
The balance sheet reflects revenue growth of -6%. Overall balance sheet health is adequate for the current business environment.
Above 50MA
37.18%
Net New Highs
+51081
The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how apparel retailer stocks fared in Q3, starting with Zumiez (NASDAQ:ZUMZ).
U.S. stocks traded lower toward the end of trading, with the S&P 500 falling around 0.3% on Monday. The Dow traded down 0.67% to 39,538.91 while the NASDAQ fell 0.06% to 16,369.44. The S&P 500 also fell, dropping, 0.30% to 5,238.49. Check This Out: Jim Cramer Likes Crown Castle, But Can't Recommend Archer Aviation: It Has 'No Earnings Power' Leading and Lagging Sectors Communication services shares jumped by 1.3% on Monday. In trading on Monday, real estate shares fell by 1.6%. Top Headline Torrid Holdings Inc. (NYSE: CURV) reported better-than-expected fourth-quarter financial results on Thursday. Equities Trading UP CXApp Inc. (NASDAQ: CXAI) shares shot up 145% to $6.00 after the ...
Torrid Holdings Inc. (NYSE: CURV) reported better-than-expected fourth-quarter financial results on Thursday. Torrid Holdings posted GAAP loss of 4 cents per share, versus market expectations for a loss of 7 cents per share. The company’s quarterly sales came in at $293.500 million, versus estimates of $274.827 million, according to data from Benzinga Pro. Lisa Harper, Chief Executive Officer, stated, "In fiscal 2023 we improved the fundamentals of our business by enhancing our assortment while reducing overall inventory levels, improving product costs, and optimizing our marketing investments. We are encouraged by the improving trends in sales and margins as customers responded to our ...Full story available on Benzinga.com
Investors need to pay close attention to Torrid Holdings (CURV) stock based on the movements in the options market lately.
Torrid Holdings reported Q2 2025 results with net sales of $262.8 million and adjusted EBITDA of $21.5 million, experiencing a 6.9% year-over-year sales decline. The company is focusing on digital transformation, accelerating store closures, and expanding higher-margin sub-brands.