TheRealReal (REAL) EBITDA Margin (2018 - 2026)
TheRealReal (REAL) reported EBITDA Margin of 2.88% for Q2 2026, up 3.86 percentage points from -0.99% a year earlier but down 0.19 percentage points from the prior quarter.
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Analysis
TheRealReal (REAL) EBITDA Margin (2018 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, TheRealReal's EBITDA Margin came in at 3.53%, up 4.97 percentage points year-over-year; for FY2025, it came in at 1.31%, up 5.21 percentage points from FY2024.
- EBITDA Margin has increased for five consecutive years, with a five-year change of +52.64 percentage points (FY2020 to FY2025).
- By year, EBITDA Margin came in at -3.90% in FY2024 (+20.61 pp), -24.50% in FY2023 (+2.26 pp), -26.76% in FY2022 (+14.16 pp) and -40.92% in FY2021 (+10.41 pp).
- Five-year quarterly EBITDA Margin spans a low of -52.13% in Q1 2023 and a high of 7.44% in Q4 2025.
- Year over year, EBITDA Margin has now increased in each of the last 13 quarters, with an average year-over-year change of +5.98 percentage points over the last eight quarters.
- The high point for year-over-year EBITDA Margin in five years was Q1 2024 (a gain of 45.43 percentage points); the low point was Q1 2023 (a drop of 19.18 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 3.07% (Q1 2026), 7.44% (Q4 2025) and 0.38% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Nike | 53.94 Bn | 19.93 Bn | 5.39 Bn | 13.71% |
| 2 | Tapestry | 22.74 Bn | 18.69 Bn | 1.56 Bn | 26.69% |
| 3 | Ralph Lauren | 21.47 Bn | 13.57 Bn | 1.44 Bn | 20.48% |
| 4 | Deckers Outdoor | 11.15 Bn | 4.02 Bn | - | - |
| 5 | Lululemon Athletica | 10.72 Bn | 4.97 Bn | 1.46 Bn | 24.67% |
| 6 | Levi Strauss | 7.64 Bn | 4.29 Bn | 979.10 Mn | 11.49% |
| 7 | Gildan Activewear | 6.52 Bn | 5.51 Bn | 459.76 Mn | 15.43% |
| 8 | Birkenstock Holding | 6.06 Bn | 4.37 Bn | 493.89 Mn | 29.25% |
| 9 | Crocs | 5.89 Bn | 5.30 Bn | 700.71 Mn | 25.92% |
| 10 | TheRealReal | 1.07 Bn | 569.14 Mn | 143.20 Mn | 2.88% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.88% |
| Mar 31, 2026 | 3.07% |
| Dec 31, 2025 | 7.44% |
| Sep 30, 2025 | 0.38% |
| Jun 30, 2025 | -0.99% |
| Mar 31, 2025 | -2.75% |
| Dec 31, 2024 | 1.91% |
| Sep 30, 2024 | -4.29% |
| Jun 30, 2024 | -7.29% |
| Mar 31, 2024 | -6.70% |
| Dec 31, 2023 | -9.00% |
| Sep 30, 2023 | -11.07% |
| Jun 30, 2023 | -25.20% |
| Mar 31, 2023 | -52.13% |
| Dec 31, 2022 | -19.12% |
| Sep 30, 2022 | -26.86% |
| Jun 30, 2022 | -28.68% |
| Mar 31, 2022 | -32.95% |
| Dec 31, 2021 | -27.90% |
| Sep 30, 2021 | -37.97% |
API Access
TheRealReal EBITDA Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ebitda-margin&ticker=REAL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "ticker": "REAL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ebitda-margin&ticker=REAL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();