One-glance verdict
Within fair range
$15.84 our estimate vs market $11.50
Wall Street consensus: $10.00 (-36.9% lower than our fair-value estimate)
27% below our estimate
Fundamentals snapshot
Vince Holding Corp.
VNCE · NCM · Consumer Cyclical · Apparel Manufacturing
Current price
$11.50
52-week range
$1.95 - $12.99
Market cap
$148.86M
Balance sheet
Distressed
2.70x Stretched
Net debt $113.47M. Interest coverage shows how many times profit covers the interest bill.
What stands out
2 Rewards
1 Risk
2 rewards · 1 risks
- Reward Revenue grew 4.9% last year.
- Reward Free cash flow was positive in 4/10 years.
- Risk Stock trades 454.8% above its 5-year average P/E.
What this company does
Vince Holding Corp.
Vince Holding Corp. is a luxury clothing company that sells men's and women's apparel, like cashmere sweaters and leather jackets, under its "Vince" brand. It makes money from two main channels: selling directly to customers through its own stores and website, and its wholesale business (selling products in bulk to department and specialty stores). This matters because it allows Vince to reach a wide range of shoppers, controlling its brand experience in its own stores while also benefiting from the large customer base of major retailers.
How the company got here
Vince was founded in 2002 as a luxury clothing brand and was acquired by the Kellwood Company in 2006. It expanded from women's clothing into menswear and opened its first own-brand stores and website in 2008. The company went public in 2013, trading on the stock market under the ticker VNCE. A major turning point came in 2023 when the company sold its brand name and intellectual property (the legal ownership of its creative work and brand identity) to Authentic Brands Group, but then licensed it back in a long-term deal. This move gave Vince cash to reduce its debt and reinvest in the business, while Authentic focuses on growing the brand's global presence.
What it actually does
Vince is a high-end fashion company known for its simple, elegant, and comfortable clothing. Think of it as a brand that focuses on well-made basics and luxury essentials, like cashmere sweaters, silk blouses, and leather jackets, rather than fast-changing trends. It sells clothes and accessories for both women and men. You can find Vince products in upscale department stores, in Vince's own retail locations and outlet stores, and on its website.
Vince Wholesale
This part of the business involves selling Vince clothing in large quantities to other retailers. Its main customers are major department stores, like Nordstrom, and smaller, high-end specialty shops around the world. In this model, the department store is the one paying Vince, and they then sell the clothes to the final shopper. This segment is the larger of the two, making up a little more than half of the company's sales.
Vince Direct-to-Consumer
This segment is all about selling products directly to shoppers, with no middleman. This happens through the company's own physical retail stores, its outlet stores, and its e-commerce website, vince.com. Selling directly allows the company to control the customer experience and often results in a higher margin (the profit made on each dollar of sales). This is the faster-growing part of the business and accounts for a little less than half of total sales.
What management is betting on now
The company is focused on a multi-brand platform strategy, which was expanded by its recent acquisition of the operating business for the lifestyle brand October's Very Own (OVO). For its core Vince brand, a key priority is growing its direct-to-consumer sales, especially through e-commerce and by improving the performance of its physical stores. Management is also focused on expanding its men's apparel business, aiming to increase it from about a quarter of total sales to a larger share. Another focus is adding new product types like handbags and accessories with minimal risk by using drop-shipping (a method where products are shipped to the customer directly from the supplier).
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2025 Q4
$5.13M
FY2026 Q1
$21.18M
FY2026 Q2
$-13.24M
FY2026 Q3
$2.10M
FY2026 Q4
$-5.70M
FY2027 Q2
$-9.13M
FY2027 Q3
$17.39M
Revenue
$81.79M
Net income
$10.60M
Diluted EPS
0.80
Operating cash flow
$18.14M
Free cash flow
$17.39M
Fetching…
Sources
Revenue
$64.03M
Net income
$-2.10M
Diluted EPS
-0.16
Operating cash flow
$-8.91M
Free cash flow
$-9.13M
Fetching…
Sources
Revenue
$85.13M
Net income
$2.73M
Diluted EPS
0.21
Operating cash flow
$-5.07M
Free cash flow
$-5.70M
Fetching…
Sources
Revenue
$73.24M
Net income
$12.06M
Diluted EPS
0.93
Operating cash flow
$4.20M
Free cash flow
$2.10M
Fetching…
Sources
Revenue
$57.93M
Net income
$-4.80M
Diluted EPS
-0.37
Operating cash flow
$-11.82M
Free cash flow
$-13.24M
Fetching…
Sources
Revenue
$79.95M
Net income
$-28.34M
Diluted EPS
-2.25
Operating cash flow
$22.69M
Free cash flow
$21.18M
Fetching…
Sources
Revenue
$80.16M
Net income
$4.35M
Diluted EPS
0.34
Operating cash flow
$6.44M
Free cash flow
$5.13M
Fetching…
Sources
Is it cheap or expensive?
Fair value $15.84 vs current price $11.50
Wall Street consensus is the average analyst price target: $10.00 (-36.9% lower than our fair-value estimate).
Our most-likely fair value is $15.84 a share — about 37.7% away from today's price of $11.50, so the stock currently looks fairly priced.
Is it drowning in debt?
Distressed
Net debt $113.5M. Interest coverage 2.7x.
Net debt
$113.47M
Interest coverage
2.70x
Vince Holding Corp. is healthier than 0 of 1 peers on balance-sheet leverage.
Distressed
Worse cushion
Baseline
Better cushion
VNCE
BASELINE
Vince Holding Corp.
Total debt $114.48M Interest coverage 2.70x This is the baseline the peer rows are being compared against.
What you should know
The case for and against VNCE
2 Rewards
1 Risk
Rewards
-
Revenue grew 4.9% last year.
-
Free cash flow was positive in 4/10 years.
Risks
-
Stock trades 454.8% above its 5-year average P/E.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
19.83x
Forward P/E
12.50x
P/B
2.95x
P/S
0.47x
EV/EBITDA
16.38x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
52.5%
Operating margin
16.6%
Net margin
2.4%
ROE
14.1%
ROA
3.6%
Health
Liquidity and balance-sheet strength
Debt / equity
1.95x
Current ratio
1.49x
Quick ratio
0.40x
Total debt
$114.48M
Total cash
$1.01M
Growth
How the business has been compounding
Revenue TTM
$314.66M
Revenue 5Y CAGR
-1.8%
EPS TTM
0.58
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$19.83M
Free CF TTM
$-1.30M
FCF margin
-0.4%
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
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