Urban Outfitters' Nuuly subscription service shows accelerated growth momentum driven by rising subscriber demand. Accelerating Nuuly subscriber growth signals major revenue upside and improved competitive positioning for Urban Outfitters.
| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | 3 | 2 | 22 | 18 | 14 | 2 | — | 3 | — | — | — | 1 |
| total | individual payouts | |
|---|---|---|
| 2026 | ‡‡‡ |
|
| 2025 | ‡‡‡ |
|
| 2024 | ‡‡‡ |
|
| 2023 | ‡‡‡ |
|
| 2022 | ‡‡‡ |
|
| 2021 | ‡‡‡ |
|
| 2020 | ‡‡‡ |
|
| 2018 | ‡‡‡ |
|
| 2024 | 2025 | 2026 | Q'26 | |
|---|---|---|---|---|
| Cash | 465.07 | 610.43 | 695.93 | 716.13 |
| Receivables | 67.01 | 74.01 | 95.67 | 102.96 |
| Inventory | 550.24 | 621.15 | 700.95 | 778.54 |
| Other | — | — | — | — |
| 1,282.50 | 1,492.80 | 1,686.10 | 1,824.40 |
| 2024 | 2025 | 2026 | Q'26 | |
|---|---|---|---|---|
| Payables | 253.34 | 295.77 | 327.90 | 372.64 |
| ST’ Debt | — | — | — | — |
| Other | — | — | — | — |
| 994.21 | 1,075.68 | 1,118.09 | 1,154.12 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Apr | Jul | Oct | Jan | Year | |
|---|---|---|---|---|---|
| ’26 | 1,481.35 | 1,661.92 | — | — |
—
|
| ’26 | 1,329.50 | 1,504.76 | 1,529.35 | 1,801.77 |
6,165.38
|
| ’25 | 1,200.73 | 1,351.96 | 1,361.86 | 1,636.12 |
5,550.67
|
| ’24 | 1,113.67 | 1,272.20 | 1,281.17 | 1,486.19 |
5,153.24
|
| ’23 | 1,051.93 | 1,183.39 | 1,175.35 | 1,384.57 |
4,795.24
|
| ’22 | 927.42 | 1,157.73 | 1,131.42 | 1,332.20 |
4,548.76
|
| ’21 | 588.48 | 803.27 | 969.61 | 1,088.39 |
3,449.75
|
| Apr | Jul | Oct | Jan | Year | |
|---|---|---|---|---|---|
| ’26 | 15.48 | 376.26 | — | — |
—
|
| ’26 | 33.03 | 218.01 | 61.14 | 263.01 |
575.19
|
| ’25 | 58.55 | 105.26 | 18.55 | 320.47 |
502.83
|
| ’24 | 36.28 | 174.97 | 68.99 | 229.17 |
509.41
|
| ’23 | (79.56) | 47.89 | 25.49 | 148.90 |
142.73
|
| ’22 | 37.11 | 158.09 | 27.09 | 137.04 |
359.32
|
| ’21 | (59.65) | 174.87 | 99.45 | 71.15 |
285.81
|
| Apr | Jul | Oct | Jan | Year | |
|---|---|---|---|---|---|
| ’26 | (177.76) | 301.45 | — | — |
—
|
| ’26 | (13.13) | 156.62 | (22.76) | 194.28 |
315.02
|
| ’25 | 17.46 | 47.50 | (26.65) | 281.94 |
320.25
|
| ’24 | 3.37 | 129.36 | (3.53) | 180.58 |
309.79
|
| ’23 | (153.28) | 15.97 | (12.30) | 92.83 |
(56.78)
|
| ’22 | (5.48) | 95.05 | (26.30) | 33.62 |
96.89
|
| ’21 | (103.17) | 146.28 | 82.40 | 1.06 |
126.57
|
| Apr | Jul | Oct | Jan | Year | |
|---|---|---|---|---|---|
| ’26 | 1.30 | 2.78 | — | — |
—
|
| ’26 | 1.16 | 1.58 | 1.28 | 1.05 |
5.06
|
| ’25 | 0.65 | 1.24 | 1.10 | 1.28 |
4.26
|
| ’24 | 0.56 | 1.10 | 0.88 | 0.50 |
3.05
|
| ’23 | 0.33 | 0.64 | 0.40 | 0.34 |
1.70
|
| ’22 | 0.54 | 1.28 | 0.89 | 0.41 |
3.13
|
| ’21 | (1.41) | 0.35 | 0.78 | 0.29 |
0.01
|
| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | 17.81 | 23.55 | 33.86 | 41.89 | 59.97 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | 30.82 | 38.13 | 56.37 | 83.94 | 85.43 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 23,000 | 26,000 | 28,000 | 29,000 | 31,000 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.20 | 0.18 | 0.18 | 0.19 | 0.20 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4,548.76 | 4,795.24 | 5,153.24 | 5,550.67 | 6,165.38 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 32.84% | 29.76% | 33.29% | 34.71% | 35.97% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 404.63 | 221.28 | 381.61 | 500.17 | 596.90 | ‡‡‡‡‡ | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8.90% | 4.61% | 7.41% | 9.01% | 9.68% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 310.62 | 159.70 | 287.67 | 402.46 | 464.92 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 105.67 | 102.34 | 102.49 | 115.43 | 128.53 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 46.41 | 51.45 | 55.59 | 59.89 | 68.36 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 3.17 | 1.71 | 3.10 | 4.34 | 5.15 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.67 | 1.53 | 5.50 | 5.43 | 6.38 | ‡‡‡ | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (2.68) | (2.14) | (2.15) | (1.97) | (2.88) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.99 | (0.61) | 3.34 | 3.46 | 3.49 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 17.81 | 19.23 | 22.79 | 26.67 | 31.21 | ‡‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 98.02 | 93.20 | 92.70 | 92.68 | 90.19 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9.09 | 16.02 | 12.30 | 12.77 | 14.10 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.62 | 0.53 | 0.68 | 0.93 | 1.06 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.61 | 1.42 | 1.67 | 2.08 | 2.33 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.78 | 0.69 | 0.80 | 1.01 | 1.12 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 36.70 | (57.91) | 13.36 | 17.51 | 22.01 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 359.32 | 142.73 | 509.41 | 502.83 | 575.19 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (262.43) | (199.51) | (199.62) | (182.58) | (260.17) | ‡‡‡‡‡ | — | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 96.89 | (56.78) | 309.79 | 320.25 | 315.02 | ‡‡‡‡‡ | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 304.27 | 347.35 | 288.30 | 417.12 | 568.01 | — | — | — |
Working Cap'
|
| — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,187.00 | 1,118.00 | — | — | — | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 741.01 | 735.36 | (465.06) | (610.43) | (695.93) | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,745.74 | 1,792.68 | 2,112.54 | 2,471.50 | 2,815.29 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8.47% | 4.27% | 7.38% | 9.33% | 9.76% | ‡‡‡‡‡ | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 10.27% | 5.60% | 14.03% | 15.91% | 17.86% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 19.27% | 9.03% | 14.73% | 17.56% | 17.59% | ‡‡‡‡‡ | — | — |
ROE
|
Urban Outfitters, Inc. (URBN) has masterfully reinvented itself amid retail’s toughest challenges—from COVID lockdowns to inflation—driving revenue from $3.45 billion in 2016 to $5.15 billion in 2024, with analysts forecasting a blistering surge to $7.08 billion by 2028, implying 19% cumulative growth. Powerhouse brands like Anthropologie and Free People have fueled this momentum, outpacing a stagnant sector through digital sales (now over 30% of mix), international expansion, and the fast-scaling Nuuly subscription model. Operational efficiency shines with revenue per employee steady at $184K-$197K, even as headcount grew, positioning URBN for explosive multi-brand scaling.
Profitability is roaring back: gross margins hit 33.29% in 2024 (nearing pre-pandemic peaks), EPS rocketed 277% to $3.10 with projections to $6.38 by 2028, and ROE climbed to 14.73%. A fortress balance sheet boasts net cash, surging FCF per share ($3.34), and aggressive buybacks shrinking shares 14% since 2016—EV/FCF at a steal of 13.4x. Despite a recent 15-20% pullback from 2025 highs, valuations scream opportunity with PS at 0.68x and forward PE dropping to 11x.
Wall Street’s buzzing with ~23% average upside potential, betting on margin expansion to 35% and Nuuly hitting 10%+ of sales—though insider selling (over $133M, no buys) adds a cautionary note amid macro risks. URBN’s compounding growth story offers overweight appeal for bold portfolios; dive into the full analysis for the charts, projections, and buyback catalysts that could ignite the next leg higher.
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