What are the investment strengths of Vera Bradley Inc (VRA)?

Deep value at 0.2x P/S and 0.5x P/B - tangible book of 128M exceeds market cap by 2x, potential takeout target Gross margin 46.9% near industry median 46.6% - brand still commands pricing, operational fix could restore profitability

What are the investment risks for Vera Bradley Inc (VRA)?

Revenue declining 21% over 3Y with -32% gross profit 1Y drop - structural demand destruction, not cyclical ROIC of -36% TTM destroying capital; 86M debt on 324M shrinking revenue creates refinancing risk

Vera Bradley Inc

VRA

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Vera Bradley Inc AI Insights

Informational only. Not investment advice.

As of 2025-12-18

Snapshot

Operating margin TTM of -16% vs industry median +7.4% - burning cash on operations while peers profit[Operating Margin TTM]
Revenue down 12% 1Y and 21% 3Y CAGR while inventory at 83M (26% of revenue) signals demand collapse[Total Revenue 3Y Growth]
Trading at 0.5x book value with 64.8M market cap vs 128M equity - market pricing liquidation risk[P/B Ratio]

Watch Triggers

Cash and Equivalents: Falls below 5M or requires credit facility draw — At -13M FCF burn rate, sub-5M cash signals imminent liquidity crisis
Inventory: Rises above 90M or inventory/revenue exceeds 30% — Would indicate further demand deterioration and markdown risk
Operating Margin TTM: Improves to above -10% — First sign of successful cost restructuring and turnaround viability

Bull Case

Deep value at 0.2x P/S and 0.5x P/B - tangible book of 128M exceeds market cap by 2x, potential takeout target

P/S RatioP/B RatioTangible Book Value

Gross margin 46.9% near industry median 46.6% - brand still commands pricing, operational fix could restore profitability

Gross Margin TTMOperating Expense TTM

Bear Case

Revenue declining 21% over 3Y with -32% gross profit 1Y drop - structural demand destruction, not cyclical

Total Revenue 3Y GrowthGross Profit 1Y Growth

ROIC of -36% TTM destroying capital; 86M debt on 324M shrinking revenue creates refinancing risk

ROIC TTMTotal DebtLong Term Debt

Bull vs Bear Balance

AI-generated sentiment analysis based on fundamental metrics and market conditions.

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Forward Thesis

Cash runway exhaustion within 12-18 months without turnaround or capital raise

3-12mhigh

FCF burn of -13M TTM with only 10.7M cash
86M total debt vs declining revenue base
No dividend cuts left - already at zero

Cash 10.7M vs FCF burn -13M TTMDebt/equity 0.67x on shrinking equityOperating cash flow -4M TTM

Valuation Context

Caveats

Public Strategies Rankings

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VRA Fundamentals

Manufacturing → Leather and Allied Product Manufacturing

Metric	Value	YoY Growth	Industry Percentile
Market Cap	$97.07M		—
Enterprise Value	$149.09M		—
P/E Ratio	0.00		—
Total Revenue - TTM	$269.65M	-27.5%	—
Earnings Per Share (diluted) - TTM	$-1.71		—
Operating Margin - TTM	-11.5%	-2.5%	—
Net Margin - TTM	-17.7%	-1.0%	—
Free Cash Flow - TTM	$-13.26M		—
Return on Common Equity - TTM	-30.8%	-2.5%	—
Beta 5Y (Monthly)	unknown		—

VRA Dividend History

No dividends

VRA Stock Splits

No stock splits

VRA SEC Filings

Filing Date	Report Date	Report Type	Filing Link
03/27/26	01/31/26	Unknown	0001628280-26-021640
12/11/25	11/01/25	10-Q	0001628280-25-056518
09/11/25	08/02/25	10-Q	0001495320-25-000073
06/11/25	05/03/25	10-Q	0001495320-25-000051
03/28/25	02/01/25	10-K	0001495320-25-000019
12/11/24	11/02/24	10-Q	0001495320-24-000091
09/11/24	08/03/24	10-Q	0001495320-24-000065
06/12/24	05/04/24	10-Q	0001495320-24-000050
03/29/24	02/03/24	10-K	0001495320-24-000026
12/06/23	10/28/23	10-Q	0001495320-23-000063
09/06/23	07/29/23	10-Q	0001495320-23-000057
06/07/23	04/29/23	10-Q	0001495320-23-000037
03/28/23	01/28/23	10-K	0001495320-23-000014
12/07/22	10/29/22	10-Q	0001495320-22-000046
09/07/22	07/30/22	10-Q	0001495320-22-000036
06/09/22	04/30/22	10-Q	0001495320-22-000026
03/29/22	01/29/22	10-K	0001495320-22-000007
12/08/21	10/30/21	10-Q	0001495320-21-000051
09/08/21	07/31/21	10-Q	0001495320-21-000044
06/09/21	05/01/21	10-Q	0001495320-21-000036
03/30/21	01/30/21	10-K	0001495320-21-000016
12/09/20	10/31/20	10-Q	0001495320-20-000058
09/09/20	08/01/20	10-Q	0001495320-20-000043
06/10/20	05/02/20	10-Q	0001495320-20-000032
03/31/20	02/01/20	10-K	0001495320-20-000010
12/11/19	11/02/19	10-Q	0001495320-19-000048
09/11/19	08/03/19	10-Q	0001495320-19-000037
06/12/19	05/04/19	10-Q	0001495320-19-000020
04/02/19	02/02/19	10-K	0001495320-19-000010
12/12/18	11/03/18	10-Q	0001495320-18-000039
09/12/18	08/04/18	10-Q	0001495320-18-000031
06/13/18	05/05/18	10-Q	0001495320-18-000019
04/03/18	02/03/18	10-K	0001495320-18-000007
12/06/17	10/28/17	10-Q	0001495320-17-000041
09/06/17	07/29/17	10-Q	0001495320-17-000035
06/07/17	04/29/17	10-Q	0001495320-17-000023
03/28/17	01/28/17	10-K	0001495320-17-000009
12/07/16	10/29/16	10-Q	0001495320-16-000094
09/07/16	07/30/16	10-Q	0001495320-16-000086
06/08/16	04/30/16	10-Q	0001495320-16-000077
03/29/16	01/30/16	10-K	0001495320-16-000057
12/09/15	10/31/15	10-Q	0001495320-15-000042
09/09/15	08/01/15	10-Q	0001495320-15-000035
06/11/15	05/02/15	10-Q	0001495320-15-000025
03/31/15	01/31/15	10-K	0001495320-15-000008
12/10/14	11/01/14	10-Q	0001495320-14-000047
09/10/14	08/02/14	10-Q	0001495320-14-000041
06/12/14	05/03/14	10-Q	0001495320-14-000030
04/02/14	02/01/14	10-K	0001495320-14-000011
12/12/13	11/02/13	10-Q	0001445305-13-003184
09/11/13	08/03/13	10-Q	0001193125-13-364145
06/12/13	05/04/13	10-Q	0001193125-13-256102
04/03/13	02/02/13	10-K	0001193125-13-138930
12/06/12	10/27/12	10-Q	0001193125-12-493722
09/06/12	07/28/12	10-Q	0001193125-12-382858
06/06/12	04/28/12	10-Q	0001193125-12-262064
03/27/12	01/28/12	10-K	0001193125-12-134680
12/13/11	10/29/11	10-Q	0001193125-11-339609
09/13/11	07/30/11	10-Q	0001193125-11-246775
06/14/11	04/30/11	10-Q	0001193125-11-164768
04/01/11	01/29/11	10-K	0001193125-11-086990
12/13/10	10/30/10	10-Q	0001193125-10-279519
10/21/10	07/31/10	424B4	0001193125-10-233474
07/01/10	05/01/10	S-1	0001193125-10-152576
10/21/10	01/30/10	424B4	0001193125-10-233474
12/13/10	10/31/09	10-Q	0001193125-10-279519
07/31/09	07/31/09	Unknown	--
07/01/10	05/02/09	S-1	0001193125-10-152576