At a glance
Urban Outfitters Inc is worth $7.65B, about 18 times its fiscal 2026 earnings. Revenue grew 11.1% to $6.17B in fiscal 2026, with 7.5% kept as profit; over 5 years it has grown 12.3% a year. It pays no dividend; it spent $374.0M buying back its shares over FY2022–FY2026. The stock returned +33.0% over the past year with dividends reinvested and +23.0% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 53.2% in the 2020 crash (S&P 500: 33.7%) and 40.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 8 months and 12 months after the lows.
The business in plain English
Urban Outfitters Inc. (URBN) owns a group of clothing and home brands: Anthropologie (which includes Terrain garden centers and Maeve), Free People and its activewear line FP Movement, Urban Outfitters, and the Nuuly rental service. It makes most of its money designing and retailing apparel, accessories, home goods and beauty products through its own stores, websites and apps. Sales were about $6.2 billion in the fiscal year ended January 31, 2026, after growing roughly 12% a year over five years.
Retail, the store and online business, produced 85.7% of sales. Within Retail, Anthropologie's North American business, aimed at women aged 28 to 45, made up 47.2% of sales. Free People, aimed at women aged 25 to 30, and FP Movement added 23.8% in North America. Urban Outfitters, aimed at 18- to 28-year-olds, added 15.3% in North America and 10.0% in Europe. At year-end, the company ran 254 Anthropologie, 180 Free People, 88 FP Movement and 253 Urban Outfitters stores.
Nuuly, the Subscription segment (9.2% of sales), rents women's clothing for a monthly fee. Subscribers wear the pieces, then swap them for new ones the next month. Wholesale (5.1%) supplies Free People, FP Movement and Urban Outfitters' BDG and "iets frans" lines to department and specialty stores such as Nordstrom and Dick's Sporting Goods.
Price history
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URBN +33.0% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Retail Operations | $5.28B | 85.7% |
| Subscription Operations | $568.4M | 9.2% |
| Wholesale Operations | $314.3M | 5.1% |
Latest results
- In Q2 FY2027 (ended Jul 31, 2026), revenue was $1.66B, up 10.4% from a year earlier, and net income was $240.7M (+67.3%).
- For fiscal 2026, revenue was $6.17B (+11.1% year over year; +12.3% a year from FY2021 to FY2026) with a 7.5% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | +12.3% good |
|---|---|
| Operating margin | 9.8% watch |
| Free cash flow margin | 5.1% watch |
| Return on equity (FY2026) | 16.5% good |
| Return on assets (FY2026) | 9.3% good |
| Cash and investments | $945.5M (no borrowings found in the filings) good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $3.45B | $1.2M | $126.6M |
| FY2022 | $4.55B | $310.6M | $96.9M |
| FY2023 | $4.80B | $159.7M | $-56.8M |
| FY2024 | $5.15B | $287.7M | $309.8M |
| FY2025 | $5.55B | $402.5M | $320.3M |
| FY2026 | $6.17B | $464.9M | $315.0M |
Valuation snapshot
| Market value | $7.65B |
|---|---|
| P/E ratio | 17.7 |
| Dividend yield | None |
Rank among 1514 US companies
Market value at each year end
Urban Outfitters’s market value went from $3.31B at the end of 2016 to $7.65B on Oct 28, 2026, about 2.3 times as much; since the end of 2025 it is up 13%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $7.65B | +13.4% |
| 2025 | $6.75B | +33.3% |
| 2024 | $5.06B | +52.9% |
| 2023 | $3.31B | +50.6% |
| 2022 | $2.20B | -23.5% |
| 2021 | $2.87B | +14.8% |
| 2020 | $2.50B | -8.0% |
| 2019 | $2.72B | -23.9% |
| 2018 | $3.57B | -5.8% |
| 2017 | $3.80B | +14.6% |
| 2016 | $3.31B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| URBN price data to Oct 28, 2026 | +18.7% | +33.0% | +38.2% | +23.0% | +10.2% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +18.7% |
| 2025 | +37.1% |
| 2024 | +53.8% |
| 2023 | +49.6% |
| 2022 | -18.8% |
| 2021 | +14.7% |
| 2020 | -7.8% |
| 2019 | -16.4% |
| 2018 | -5.3% |
| 2017 | +23.1% |
| 2016 | +25.2% |
| 2015 | -35.2% |
| 2014 | -5.3% |
| 2013 | -5.7% |
| 2012 | +42.8% |
| 2011 | -23.0% |
| 2010 | +2.3% |
| 2009 | +133.6% |
| 2008 | -45.0% |
| 2007 | +18.4% |
| 2006 | -9.0% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 39.8% over that stretch · deepest drop along the way 65.5%, back to its old high 16.1 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 50.2% over that stretch · deepest drop along the way 53.2%, back to its old high 8.1 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 27.1% over that stretch · deepest drop along the way 40%, back to its old high 12 months after the low |
Insider activity
Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 0 open-market purchases and 9 sales ($3.7M), 2 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| May 22, 2026 | Frank Conforti Co-President & COO | sell | $687K |
| May 22, 2026 | Azeez Hayne Chief Administrative Officer | sell | $639K |
| Oct 29, 2026 | Harry S Jr Cherken Director | sell (plan) | $461K |
| Sep 4, 2026 | Melanie Marein-Efron Chief Financial Officer | sell | $460K |
| Oct 15, 2026 | Harry S Jr Cherken Director | sell (plan) | $435K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 8.9% | Sep 30, 2025 |
| FMR LLC | 5.5% | Sep 30, 2025 |
| Dimensional Fund Advisors LP | 5.3% | Jun 30, 2026 |
ETFs with the most weight in URBN
| PEZ Invesco Dorsey Wright Consumer Cyclicals Momentum ETF | 2.84% |
| PSCD Invesco S&P SmallCap Consumer Discretionary ETF | 1.84% |
| GRPZ Invesco S&P SmallCap 600 GARP ETF | 1.61% |
| SEIS SEI Select Small Cap ETF | 1.28% |
| FSGS First Trust SMID Growth Strength ETF | 1.05% |
| TAX Cambria Tax Aware ETF | 0.97% |
| JPSV JPMorgan Active Small Cap Value ETF | 0.79% |
| AVUV Avantis U.S. Small Cap Value ETF | 0.76% |
What could go wrong
- Misreading fashion trends can force price cuts. Customer tastes change fast. If URBN misjudges trends, it can be stuck with unsold inventory and forced into discounts that cut sales and profits. Wholesale is most exposed because its production lead times are longer.
- Heavy competition, including small boutiques. Specialty clothing retail, wholesale apparel and clothing rental are all crowded. Anthropologie and Free People also face small boutiques, and the internet makes it easy for rivals to enter and shoppers to compare prices.
- Expansion and new brands may disappoint. URBN's plans for fiscal 2027 called for about 14 Anthropologie, 13 Free People and 21 FP Movement store openings. New stores, overseas markets and test brands such as Maeve may not succeed.
- Dependence on overseas factories and shipping. URBN relies heavily on manufacturers outside the US. Late or poor-quality production, or shipping delays, can leave it short of merchandise, costing sales and customer loyalty.
- Currency swings affect European sales. URBN runs stores and websites in Europe, where Urban Outfitters alone produced 10.0% of Retail segment sales. When the dollar strengthens, sales made in foreign currencies translate into fewer dollars.
- Shoppers cut back when money is tight. Clothing and home decor are easy purchases to delay. Inflation, weak employment, higher interest rates or tariffs can curb spending and also hurt the department stores that carry its wholesale lines.
Recent events
- Other company announcement
- Shareholder vote results
- Major agreement signed; New debt or financial obligation
- Other company announcement
- Other company announcement
- Other company announcement
- Other company announcement
For income and retirement investors
Urban Outfitters pays no dividend, so it provides no regular income. Holders get returns only from share price changes and would need to trim shares to raise cash. Instead, the company returns cash through share repurchases (buybacks), which shrink the share count. It spent about $374 million on buybacks in the five fiscal years ended January 31, 2026. That included $154 million in the final year, roughly half of that year's $315 million in free cash flow (cash left after running and investing in the business). Shares outstanding fell 12.5% between December 2021 and September 2026.
The stock has dropped sharply in past downturns. It fell 65.5% during the 2008 financial crisis and took about 16 months to recover. It fell 53.2% in the 2020 COVID crash, recovering in about eight months, and 40% in the 2022 bear market, recovering in about a year. A single stock like URBN carries more risk than a diversified fund.
Questions investors ask
Does Urban Outfitters pay a dividend?
No. Urban Outfitters Inc. (URBN) does not pay a dividend and paid none in the five fiscal years ended January 31, 2026. It returns cash through share repurchases (buybacks) instead. It spent about $374 million on them over that stretch, including about $154 million in the final year. Buybacks reduce the share count, which gives each remaining share a bigger slice of future profits, but they put no cash in shareholders' accounts. Investors who rely on portfolio income would need to trim shares to raise cash.
How does Urban Outfitters make money?
Mostly by designing and retailing clothing, accessories and home goods through its own stores, websites and apps. In the fiscal year ended January 31, 2026, this Retail segment produced 85.7% of URBN's roughly $6.2 billion in sales. Nuuly, a monthly clothing rental subscription, added 9.2%. The Wholesale segment added 5.1%. It supplies Free People, FP Movement and Urban Outfitters lines to department and specialty stores such as Nordstrom and Dick's Sporting Goods.
What brands does Urban Outfitters own?
Besides Urban Outfitters, the company owns Anthropologie, Free People, FP Movement and Nuuly. Anthropologie targets women aged 28 to 45. It includes Terrain, a garden and outdoor-living brand, and Maeve, a brand in early testing. Free People targets women aged 25 to 30, FP Movement offers activewear, and Urban Outfitters targets 18- to 28-year-olds. Nuuly is a clothing rental subscription. The company also ran 9 Menus & Venues restaurant and event locations as of January 31, 2026.
Is Urban Outfitters profitable?
Yes. In the fiscal year ended January 31, 2026, URBN earned $465 million on $6.2 billion in revenue, keeping about 7.5 cents of profit per dollar of sales. Earnings per diluted share were $5.06, and net income rose 15.5% from the prior year. In the quarter ended July 31, 2026, net income rose 67.3% from a year earlier. Profits have swung widely, though: net income was just $1.2 million in fiscal 2021 and $160 million in fiscal 2023.
How has Urban Outfitters stock performed?
Strongly over the past three years, with big swings. As of October 28, 2026, the share price was up 33% over one year. It had gained about 38% a year over three years, 23% a year over five years and 10% a year over ten years. It fell 18.8% in calendar 2022, and its deepest drop over about 21 years of price history was 73.8%. Volatility, a measure of how much the price swings, was 42.8% over the year to October 28, 2026.