ATRenew Inc. Sponsored ADR (RERE) vs ThredUp Inc. (TDUP)

ATRenew Inc. Sponsored ADR and ThredUp Inc. are both Internet Retail companies. ATRenew Inc. Sponsored ADR is the larger, with a market value of $517.7M against $298.1M — 1.7× the size. ThredUp Inc. has negative trailing earnings, so its P/E is not meaningful; ATRenew Inc. Sponsored ADR trades at 13.6×. ATRenew Inc. Sponsored ADR grew revenue faster over the last twelve months: 38.8% against 20.4%. ATRenew Inc. Sponsored ADR has the higher net margin (2.00% vs −6.65%) and the higher return on invested capital (14.8% vs −57.1%). Across the 19 metrics below, ATRenew Inc. Sponsored ADR leads on 17 and ThredUp Inc. on 2.

Valuation

Metric RERE TDUP Internet Retail median
P/E 13.59 n/m 22.73
P/S 0.27 0.87 0.64
P/B 1.67 4.81 1.65
Price to free cash flow 6.65 181.14 14.11
EV/EBITDA 7.94 n/m 15.68
EV/Sales 0.21 0.78 0.76
Earnings yield 7.36% (7.56%) (0.11%)
Free cash flow yield 15.03% 0.55% 0.00%

Profitability

Metric RERE TDUP Internet Retail median
Gross margin 20.74% 79.52% 43.51%
Operating margin 2.70% (7.11%) 0.08%
Net margin 2.00% (6.65%) 0.56%
Free cash flow margin 0.00% 0.48% 0.00%
Return on equity 0.00% (36.76%) 0.00%
Return on assets 8.54% (12.93%) 0.00%
Return on invested capital 14.79% (57.05%) 0.00%

Growth

Metric RERE TDUP Internet Retail median
Revenue growth (TTM) 38.80% 20.37% 10.60%
EPS growth (last fiscal year) 4,355.32% 75.36% —
Revenue growth, 5-year CAGR 33.72% 10.81% 10.81%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric RERE TDUP Internet Retail median
Debt to equity 0.11 0.29 0.13
Current ratio 2.36 0.99 1.49
Net debt to EBITDA (2.59) 7.17 (0.25)

Dividend

Metric RERE TDUP Internet Retail median
Dividend yield — — —
Payout ratio 0.00 0.00 0.00

Size

Metric RERE TDUP Internet Retail median
Market cap 517.66m 298.13m 443.85m

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