Live index · Annual reports
The Public DTC Leaderboard
Every publicly-traded direct-to-consumer and CPG brand we track, ranked on the metrics operators actually argue about — revenue growth, margins, COGS efficiency, and a contribution-margin proxy. Built from each company's audited annual reports and refreshed every earnings cycle. Tap a metric to re-rank the board.
45 public brands
Audited annual reports
Updated August 24, 2026
FY2024+ filings
Rank by
Who is still compounding the top line versus who is shrinking. Cohort median: 1.9% across 45 companies.
| Rank | Company | Category | Filing date | Prior yr | Latest yr | Revenue growth |
|---|---|---|---|---|---|---|
| 🏆 | CELHCelsius Holdings | beverage CPG | Mar 2, 2026 | $1.4B | $2.5B | 85.5% |
| 🥈 | HIMSHims & Hers Health | telehealth DTC | Feb 23, 2026 | $1.5B | $2.3B | 59.0% |
| 🥉 | VITLVital Farms | food CPG | Feb 26, 2026 | $606M | $759M | 25.3% |
| 4 | ELFe.l.f. Beauty | beauty CPG | May 21, 2026 | $1.3B | $1.6B | 24.6% |
| 5 | BOOTBoot Barn | footwear retail | May 14, 2026 | $1.9B | $2.3B | 17.9% |
| 6 | BRBRBellRing Brands | food CPG | Nov 18, 2025 | $2.0B | $2.3B | 16.1% |
| 7 | FIGSFIGS | apparel DTC | Feb 26, 2026 | $556M | $631M | 13.6% |
| 8 | WRBYWarby Parker | eyewear DTC | Feb 26, 2026 | $771M | $872M | 13.0% |
| 9 | URBNUrban Outfitters | apparel retail | Apr 1, 2026 | $5.6B | $6.2B | 11.1% |
| 10 | MNSTMonster Beverage | beverage CPG | Feb 27, 2026 | $7.5B | $8.3B | 10.7% |
| 11 | ULTAUlta Beauty | beauty retail | Mar 26, 2026 | $11.3B | $12.4B | 9.7% |
| 12 | RVLVRevolve | apparel DTC | Feb 25, 2026 | $1.1B | $1.2B | 8.5% |
| 13 | CHWYChewy | pet DTC | Mar 25, 2026 | $11.9B | $12.6B | 6.2% |
| 14 | LULULululemon | apparel DTC+retail | Mar 17, 2026 | $10.6B | $11.1B | 4.9% |
| 15 | GCOGenesco | footwear retail | Mar 25, 2026 | $2.3B | $2.4B | 4.8% |
| 16 | LEVILevi Strauss | apparel DTC+wholesale | Jan 28, 2026 | $6.0B | $6.3B | 4.1% |
| 17 | AEOAmerican Eagle | apparel retail | Mar 30, 2026 | $5.3B | $5.5B | 4.1% |
| 18 | GOLFAcushnet (Titleist) | sporting goods DTC | Feb 27, 2026 | $2.5B | $2.6B | 4.1% |
| 19 | MOVMovado | accessories | Mar 19, 2026 | $653M | $671M | 2.7% |
| 20 | ETSYEtsy | marketplace DTC | Feb 19, 2026 | $2.8B | $2.9B | 2.7% |
| 21 | ENREnergizer | household CPG | Nov 18, 2025 | $2.9B | $3.0B | 2.3% |
| 22 | YETIYeti | outdoor DTC | Feb 27, 2026 | $1.8B | $1.9B | 2.1% |
| 23 | CRICarter's | apparel CPG | Feb 27, 2026 | $2.8B | $2.9B | 1.9% |
| 24 | CHDChurch & Dwight | household CPG | Feb 12, 2026 | $6.1B | $6.2B | 1.6% |
| 25 | OLPXOlaplex | haircare CPG | Mar 5, 2026 | $423M | $423M | 0.1% |
| 26 | SBHSally Beauty | beauty retail | Nov 13, 2025 | $3.7B | $3.7B | -0.4% |
| 27 | EPCEdgewell | personal care CPG | Nov 18, 2025 | $2.3B | $2.2B | -1.3% |
| 28 | CROXCrocs | footwear DTC | Feb 12, 2026 | $4.1B | $4.0B | -1.5% |
| 29 | COTYCoty | beauty CPG | Aug 20, 2026 | $5.9B | $5.8B | -1.5% |
| 30 | HNSTHonest Co | personal care DTC | Feb 25, 2026 | $378M | $371M | -1.9% |
| 31 | KVUEKenvue | consumer health CPG | Feb 20, 2026 | $15.5B | $15.1B | -2.1% |
| 32 | THSTreeHouse Foods | food CPG | Feb 14, 2025 | $3.4B | $3.4B | -2.3% |
| 33 | SAMBoston Beer | beverage CPG | Feb 24, 2026 | $2.0B | $2.0B | -2.4% |
| 34 | HBIHanesbrands | apparel CPG | Feb 14, 2025 | $3.6B | $3.5B | -3.6% |
| 35 | PRPLPurple Innovation | mattress DTC | Mar 31, 2026 | $488M | $469M | -3.9% |
| 36 | NWLNewell Brands | household CPG | Feb 13, 2026 | $7.6B | $7.2B | -5.0% |
| 37 | SPBSpectrum Brands | household CPG | Nov 18, 2025 | $3.0B | $2.8B | -5.2% |
| 38 | SFIXStitch Fix | apparel DTC | Sep 25, 2025 | $1.3B | $1.3B | -5.3% |
| 39 | HELEHelen of Troy | household CPG | Apr 23, 2026 | $1.9B | $1.8B | -6.4% |
| 40 | SKINBeauty Health | beauty CPG | Mar 12, 2026 | $334M | $301M | -10.0% |
| 41 | HAINHain Celestial | food CPG | Sep 15, 2025 | $1.7B | $1.6B | -10.2% |
| 42 | FNKOFunko | collectibles DTC | Mar 12, 2026 | $1.0B | $908M | -13.5% |
| 43 | BYNDBeyond Meat | food CPG | Apr 9, 2026 | $326M | $275M | -15.6% |
| 44 | BARKBark Inc. | pet DTC | Jun 10, 2026 | $484M | $395M | -18.5% |
| 45 | PETSPetMed Express | pet DTC | Jun 2, 2026 | $227M | $179M | -21.1% |
Gross profit as a share of revenue — the structural ceiling on every brand's economics. Cohort median: 46.0% across 44 companies.
| Rank | Company | Category | Filing date | Gross margin |
|---|---|---|---|---|
| 🏆 | HIMSHims & Hers Health | telehealth DTC | Feb 23, 2026 | 73.8% |
| 🥈 | ETSYEtsy | marketplace DTC | Feb 19, 2026 | 71.6% |
| 🥉 | ELFe.l.f. Beauty | beauty CPG | May 21, 2026 | 70.7% |
| 4 | OLPXOlaplex | haircare CPG | Mar 5, 2026 | 69.4% |
| 5 | FIGSFIGS | apparel DTC | Feb 26, 2026 | 66.5% |
| 6 | SKINBeauty Health | beauty CPG | Mar 12, 2026 | 65.3% |
| 7 | COTYCoty | beauty CPG | Aug 20, 2026 | 62.9% |
| 8 | LEVILevi Strauss | apparel DTC+wholesale | Jan 28, 2026 | 61.7% |
| 9 | BARKBark Inc. | pet DTC | Jun 10, 2026 | 61.3% |
| 10 | CROXCrocs | footwear DTC | Feb 12, 2026 | 58.3% |
| 11 | KVUEKenvue | consumer health CPG | Feb 20, 2026 | 58.1% |
| 12 | YETIYeti | outdoor DTC | Feb 27, 2026 | 57.4% |
| 13 | LULULululemon | apparel DTC+retail | Mar 17, 2026 | 56.6% |
| 14 | MNSTMonster Beverage | beverage CPG | Feb 27, 2026 | 55.9% |
| 15 | MOVMovado | accessories | Mar 19, 2026 | 54.2% |
| 16 | WRBYWarby Parker | eyewear DTC | Feb 26, 2026 | 54.0% |
| 17 | RVLVRevolve | apparel DTC | Feb 25, 2026 | 53.5% |
| 18 | SBHSally Beauty | beauty retail | Nov 13, 2025 | 51.6% |
| 19 | CELHCelsius Holdings | beverage CPG | Mar 2, 2026 | 50.4% |
| 20 | SAMBoston Beer | beverage CPG | Feb 24, 2026 | 48.5% |
| 21 | GOLFAcushnet (Titleist) | sporting goods DTC | Feb 27, 2026 | 47.7% |
| 22 | GCOGenesco | footwear retail | Mar 25, 2026 | 46.3% |
| 23 | HELEHelen of Troy | household CPG | Apr 23, 2026 | 45.7% |
| 24 | CRICarter's | apparel CPG | Feb 27, 2026 | 45.4% |
| 25 | CHDChurch & Dwight | household CPG | Feb 12, 2026 | 44.7% |
| 26 | SFIXStitch Fix | apparel DTC | Sep 25, 2025 | 44.4% |
| 27 | ENREnergizer | household CPG | Nov 18, 2025 | 41.8% |
| 28 | EPCEdgewell | personal care CPG | Nov 18, 2025 | 41.6% |
| 29 | PRPLPurple Innovation | mattress DTC | Mar 31, 2026 | 40.2% |
| 30 | ULTAUlta Beauty | beauty retail | Mar 26, 2026 | 39.1% |
| 31 | HBIHanesbrands | apparel CPG | Feb 14, 2025 | 38.8% |
| 32 | BOOTBoot Barn | footwear retail | May 14, 2026 | 38.1% |
| 33 | VITLVital Farms | food CPG | Feb 26, 2026 | 37.6% |
| 34 | SPBSpectrum Brands | household CPG | Nov 18, 2025 | 36.7% |
| 35 | AEOAmerican Eagle | apparel retail | Mar 30, 2026 | 36.5% |
| 36 | URBNUrban Outfitters | apparel retail | Apr 1, 2026 | 36.0% |
| 37 | NWLNewell Brands | household CPG | Feb 13, 2026 | 33.8% |
| 38 | HNSTHonest Co | personal care DTC | Feb 25, 2026 | 33.3% |
| 39 | BRBRBellRing Brands | food CPG | Nov 18, 2025 | 33.3% |
| 40 | CHWYChewy | pet DTC | Mar 25, 2026 | 29.8% |
| 41 | PETSPetMed Express | pet DTC | Jun 2, 2026 | 28.1% |
| 42 | HAINHain Celestial | food CPG | Sep 15, 2025 | 21.4% |
| 43 | THSTreeHouse Foods | food CPG | Feb 14, 2025 | 16.4% |
| 44 | BYNDBeyond Meat | food CPG | Apr 9, 2026 | 2.8% |
Profit after operating costs — what is left once you run the business, before tax and one-offs. Cohort median: 4.5% across 44 companies.
| Rank | Company | Category | Filing date | Operating margin |
|---|---|---|---|---|
| 🏆 | MNSTMonster Beverage | beverage CPG | Feb 27, 2026 | 29.2% |
| 🥈 | LULULululemon | apparel DTC+retail | Mar 17, 2026 | 19.9% |
| 🥉 | CHDChurch & Dwight | household CPG | Feb 12, 2026 | 17.4% |
| 4 | KVUEKenvue | consumer health CPG | Feb 20, 2026 | 16.0% |
| 5 | BRBRBellRing Brands | food CPG | Nov 18, 2025 | 15.4% |
| 6 | BOOTBoot Barn | footwear retail | May 14, 2026 | 13.3% |
| 7 | ULTAUlta Beauty | beauty retail | Mar 26, 2026 | 12.4% |
| 8 | GOLFAcushnet (Titleist) | sporting goods DTC | Feb 27, 2026 | 11.7% |
| 9 | VITLVital Farms | food CPG | Feb 26, 2026 | 11.6% |
| 10 | YETIYeti | outdoor DTC | Feb 27, 2026 | 11.4% |
| 11 | LEVILevi Strauss | apparel DTC+wholesale | Jan 28, 2026 | 10.8% |
| 12 | URBNUrban Outfitters | apparel retail | Apr 1, 2026 | 9.8% |
| 13 | ETSYEtsy | marketplace DTC | Feb 19, 2026 | 9.2% |
| 14 | SBHSally Beauty | beauty retail | Nov 13, 2025 | 8.9% |
| 15 | SAMBoston Beer | beverage CPG | Feb 24, 2026 | 7.4% |
| 16 | RVLVRevolve | apparel DTC | Feb 25, 2026 | 6.1% |
| 17 | FIGSFIGS | apparel DTC | Feb 26, 2026 | 6.0% |
| 18 | CELHCelsius Holdings | beverage CPG | Mar 2, 2026 | 5.6% |
| 19 | HBIHanesbrands | apparel CPG | Feb 14, 2025 | 5.3% |
| 20 | CRICarter's | apparel CPG | Feb 27, 2026 | 5.0% |
| 21 | ELFe.l.f. Beauty | beauty CPG | May 21, 2026 | 4.5% |
| 22 | HIMSHims & Hers Health | telehealth DTC | Feb 23, 2026 | 4.5% |
| 23 | SPBSpectrum Brands | household CPG | Nov 18, 2025 | 4.5% |
| 24 | MOVMovado | accessories | Mar 19, 2026 | 4.4% |
| 25 | EPCEdgewell | personal care CPG | Nov 18, 2025 | 4.3% |
| 26 | AEOAmerican Eagle | apparel retail | Mar 30, 2026 | 4.1% |
| 27 | CROXCrocs | footwear DTC | Feb 12, 2026 | 3.7% |
| 28 | THSTreeHouse Foods | food CPG | Feb 14, 2025 | 3.1% |
| 29 | CHWYChewy | pet DTC | Mar 25, 2026 | 2.0% |
| 30 | OLPXOlaplex | haircare CPG | Mar 5, 2026 | 1.6% |
| 31 | GCOGenesco | footwear retail | Mar 25, 2026 | 0.7% |
| 32 | NWLNewell Brands | household CPG | Feb 13, 2026 | 0.5% |
| 33 | WRBYWarby Parker | eyewear DTC | Feb 26, 2026 | -0.6% |
| 34 | COTYCoty | beauty CPG | Aug 20, 2026 | -1.4% |
| 35 | SFIXStitch Fix | apparel DTC | Sep 25, 2025 | -3.1% |
| 36 | HNSTHonest Co | personal care DTC | Feb 25, 2026 | -5.0% |
| 37 | FNKOFunko | collectibles DTC | Mar 12, 2026 | -5.0% |
| 38 | SKINBeauty Health | beauty CPG | Mar 12, 2026 | -6.9% |
| 39 | PRPLPurple Innovation | mattress DTC | Mar 31, 2026 | -9.2% |
| 40 | BARKBark Inc. | pet DTC | Jun 10, 2026 | -10.2% |
| 41 | HAINHain Celestial | food CPG | Sep 15, 2025 | -29.6% |
| 42 | PETSPetMed Express | pet DTC | Jun 2, 2026 | -32.8% |
| 43 | HELEHelen of Troy | household CPG | Apr 23, 2026 | -43.8% |
| 44 | BYNDBeyond Meat | food CPG | Apr 9, 2026 | -121.1%* |
* Net result distorted by one-off non-operating items (impairments or debt-extinguishment gains), not operating performance — compare the operating-margin board for the real picture.
Bottom-line profit as a share of revenue, after everything including tax and impairments. Cohort median: 3.4% across 44 companies.
| Rank | Company | Category | Filing date | Net margin |
|---|---|---|---|---|
| 🏆 | BYNDBeyond Meat | food CPG | Apr 9, 2026 | 79.5%* |
| 🥈 | LULULululemon | apparel DTC+retail | Mar 17, 2026 | 14.2% |
| 🥉 | CHDChurch & Dwight | household CPG | Feb 12, 2026 | 11.9% |
| 4 | BOOTBoot Barn | footwear retail | May 14, 2026 | 10.0% |
| 5 | KVUEKenvue | consumer health CPG | Feb 20, 2026 | 9.7% |
| 6 | BRBRBellRing Brands | food CPG | Nov 18, 2025 | 9.3% |
| 7 | ULTAUlta Beauty | beauty retail | Mar 26, 2026 | 9.3% |
| 8 | YETIYeti | outdoor DTC | Feb 27, 2026 | 8.8% |
| 9 | VITLVital Farms | food CPG | Feb 26, 2026 | 8.7% |
| 10 | ENREnergizer | household CPG | Nov 18, 2025 | 8.1% |
| 11 | URBNUrban Outfitters | apparel retail | Apr 1, 2026 | 7.5% |
| 12 | GOLFAcushnet (Titleist) | sporting goods DTC | Feb 27, 2026 | 7.4% |
| 13 | ETSYEtsy | marketplace DTC | Feb 19, 2026 | 5.7% |
| 14 | SAMBoston Beer | beverage CPG | Feb 24, 2026 | 5.5% |
| 15 | HIMSHims & Hers Health | telehealth DTC | Feb 23, 2026 | 5.5% |
| 16 | FIGSFIGS | apparel DTC | Feb 26, 2026 | 5.4% |
| 17 | SBHSally Beauty | beauty retail | Nov 13, 2025 | 5.3% |
| 18 | RVLVRevolve | apparel DTC | Feb 25, 2026 | 5.0% |
| 19 | CELHCelsius Holdings | beverage CPG | Mar 2, 2026 | 4.3% |
| 20 | MOVMovado | accessories | Mar 19, 2026 | 4.0% |
| 21 | SPBSpectrum Brands | household CPG | Nov 18, 2025 | 3.6% |
| 22 | AEOAmerican Eagle | apparel retail | Mar 30, 2026 | 3.5% |
| 23 | LEVILevi Strauss | apparel DTC+wholesale | Jan 28, 2026 | 3.4% |
| 24 | CRICarter's | apparel CPG | Feb 27, 2026 | 3.2% |
| 25 | CHWYChewy | pet DTC | Mar 25, 2026 | 1.8% |
| 26 | ELFe.l.f. Beauty | beauty CPG | May 21, 2026 | 1.6% |
| 27 | EPCEdgewell | personal care CPG | Nov 18, 2025 | 1.1% |
| 28 | THSTreeHouse Foods | food CPG | Feb 14, 2025 | 0.8% |
| 29 | GCOGenesco | footwear retail | Mar 25, 2026 | 0.5% |
| 30 | WRBYWarby Parker | eyewear DTC | Feb 26, 2026 | 0.2% |
| 31 | CROXCrocs | footwear DTC | Feb 12, 2026 | -2.0% |
| 32 | OLPXOlaplex | haircare CPG | Mar 5, 2026 | -2.2% |
| 33 | SFIXStitch Fix | apparel DTC | Sep 25, 2025 | -2.3% |
| 34 | SKINBeauty Health | beauty CPG | Mar 12, 2026 | -3.2% |
| 35 | NWLNewell Brands | household CPG | Feb 13, 2026 | -4.0% |
| 36 | HNSTHonest Co | personal care DTC | Feb 25, 2026 | -4.2% |
| 37 | FNKOFunko | collectibles DTC | Mar 12, 2026 | -7.4% |
| 38 | HBIHanesbrands | apparel CPG | Feb 14, 2025 | -9.1% |
| 39 | BARKBark Inc. | pet DTC | Jun 10, 2026 | -9.9% |
| 40 | COTYCoty | beauty CPG | Aug 20, 2026 | -10.4% |
| 41 | PRPLPurple Innovation | mattress DTC | Mar 31, 2026 | -11.0% |
| 42 | PETSPetMed Express | pet DTC | Jun 2, 2026 | -32.0% |
| 43 | HAINHain Celestial | food CPG | Sep 15, 2025 | -34.0% |
| 44 | HELEHelen of Troy | household CPG | Apr 23, 2026 | -50.3% |
* Net result distorted by one-off non-operating items (impairments or debt-extinguishment gains), not operating performance — compare the operating-margin board for the real picture.
Operating cash flow minus capex, as a share of revenue — the cash the business actually throws off. Cohort median: 5.1% across 37 companies.
| Rank | Company | Category | Filing date | Free cash flow margin |
|---|---|---|---|---|
| 🏆 | MNSTMonster Beverage | beverage CPG | Feb 27, 2026 | 23.7% |
| 🥈 | ETSYEtsy | marketplace DTC | Feb 19, 2026 | 23.5% |
| 🥉 | CHDChurch & Dwight | household CPG | Feb 12, 2026 | 17.6% |
| 4 | CROXCrocs | footwear DTC | Feb 12, 2026 | 16.3% |
| 5 | OLPXOlaplex | haircare CPG | Mar 5, 2026 | 13.8% |
| 6 | CELHCelsius Holdings | beverage CPG | Mar 2, 2026 | 12.9% |
| 7 | SKINBeauty Health | beauty CPG | Mar 12, 2026 | 12.4% |
| 8 | ELFe.l.f. Beauty | beauty CPG | May 21, 2026 | 11.6% |
| 9 | KVUEKenvue | consumer health CPG | Feb 20, 2026 | 11.4% |
| 10 | YETIYeti | outdoor DTC | Feb 27, 2026 | 11.3% |
| 11 | SAMBoston Beer | beverage CPG | Feb 24, 2026 | 11.0% |
| 12 | ULTAUlta Beauty | beauty retail | Mar 26, 2026 | 8.6% |
| 13 | FIGSFIGS | apparel DTC | Feb 26, 2026 | 8.4% |
| 14 | LULULululemon | apparel DTC+retail | Mar 17, 2026 | 8.3% |
| 15 | MOVMovado | accessories | Mar 19, 2026 | 8.0% |
| 16 | HBIHanesbrands | apparel CPG | Feb 14, 2025 | 6.5% |
| 17 | SPBSpectrum Brands | household CPG | Nov 18, 2025 | 5.9% |
| 18 | BOOTBoot Barn | footwear retail | May 14, 2026 | 5.6% |
| 19 | URBNUrban Outfitters | apparel retail | Apr 1, 2026 | 5.1% |
| 20 | WRBYWarby Parker | eyewear DTC | Feb 26, 2026 | 5.0% |
| 21 | LEVILevi Strauss | apparel DTC+wholesale | Jan 28, 2026 | 4.9% |
| 22 | GOLFAcushnet (Titleist) | sporting goods DTC | Feb 27, 2026 | 4.7% |
| 23 | SBHSally Beauty | beauty retail | Nov 13, 2025 | 4.7% |
| 24 | RVLVRevolve | apparel DTC | Feb 25, 2026 | 3.9% |
| 25 | THSTreeHouse Foods | food CPG | Feb 14, 2025 | 3.8% |
| 26 | HNSTHonest Co | personal care DTC | Feb 25, 2026 | 3.7% |
| 27 | AEOAmerican Eagle | apparel retail | Mar 30, 2026 | 3.5% |
| 28 | GCOGenesco | footwear retail | Mar 25, 2026 | 3.4% |
| 29 | CRICarter's | apparel CPG | Feb 27, 2026 | 2.4% |
| 30 | ENREnergizer | household CPG | Nov 18, 2025 | 2.1% |
| 31 | EPCEdgewell | personal care CPG | Nov 18, 2025 | 1.5% |
| 32 | SFIXStitch Fix | apparel DTC | Sep 25, 2025 | 0.9% |
| 33 | FNKOFunko | collectibles DTC | Mar 12, 2026 | -4.2% |
| 34 | VITLVital Farms | food CPG | Feb 26, 2026 | -6.3% |
| 35 | PRPLPurple Innovation | mattress DTC | Mar 31, 2026 | -8.9% |
| 36 | PETSPetMed Express | pet DTC | Jun 2, 2026 | -18.4% |
| 37 | BYNDBeyond Meat | food CPG | Apr 9, 2026 | -57.1% |
Operating-income change year over year — real earnings power, before impairments and tax noise. Cohort median: -1.8% across 32 companies.
| Rank | Company | Category | Filing date | Prior yr | Latest yr | Operating-profit growth |
|---|---|---|---|---|---|---|
| 🏆 | FIGSFIGS | apparel DTC | Feb 26, 2026 | $2M | $38M | 1584.2% |
| 🥈 | LEVILevi Strauss | apparel DTC+wholesale | Jan 28, 2026 | $263M | $678M | 157.9% |
| 🥉 | CHWYChewy | pet DTC | Mar 25, 2026 | $113M | $254M | 125.8% |
| 4 | SAMBoston Beer | beverage CPG | Feb 24, 2026 | $76M | $145M | 90.7% |
| 5 | HIMSHims & Hers Health | telehealth DTC | Feb 23, 2026 | $62M | $106M | 70.6% |
| 6 | MOVMovado | accessories | Mar 19, 2026 | $20M | $30M | 49.0% |
| 7 | RVLVRevolve | apparel DTC | Feb 25, 2026 | $51M | $74M | 44.4% |
| 8 | VITLVital Farms | food CPG | Feb 26, 2026 | $64M | $88M | 39.1% |
| 9 | CHDChurch & Dwight | household CPG | Feb 12, 2026 | $807M | $1.1B | 33.5% |
| 10 | KVUEKenvue | consumer health CPG | Feb 20, 2026 | $1.8B | $2.4B | 31.1% |
| 11 | URBNUrban Outfitters | apparel retail | Apr 1, 2026 | $474M | $606M | 27.8% |
| 12 | MNSTMonster Beverage | beverage CPG | Feb 27, 2026 | $1.9B | $2.4B | 25.3% |
| 13 | BOOTBoot Barn | footwear retail | May 14, 2026 | $239M | $299M | 25.0% |
| 14 | GCOGenesco | footwear retail | Mar 25, 2026 | $14M | $17M | 24.3% |
| 15 | SBHSally Beauty | beauty retail | Nov 13, 2025 | $283M | $328M | 15.9% |
| 16 | GOLFAcushnet (Titleist) | sporting goods DTC | Feb 27, 2026 | $304M | $299M | -1.6% |
| 17 | ULTAUlta Beauty | beauty retail | Mar 26, 2026 | $1.6B | $1.5B | -2.0% |
| 18 | BRBRBellRing Brands | food CPG | Nov 18, 2025 | $388M | $357M | -7.8% |
| 19 | CELHCelsius Holdings | beverage CPG | Mar 2, 2026 | $156M | $141M | -9.4% |
| 20 | LULULululemon | apparel DTC+retail | Mar 17, 2026 | $2.5B | $2.2B | -11.8% |
| 21 | YETIYeti | outdoor DTC | Feb 27, 2026 | $245M | $214M | -13.0% |
| 22 | SPBSpectrum Brands | household CPG | Nov 18, 2025 | $171M | $125M | -26.8% |
| 23 | THSTreeHouse Foods | food CPG | Feb 14, 2025 | $147M | $103M | -29.8% |
| 24 | ETSYEtsy | marketplace DTC | Feb 19, 2026 | $380M | $266M | -30.0% |
| 25 | HBIHanesbrands | apparel CPG | Feb 14, 2025 | $266M | $186M | -30.2% |
| 26 | NWLNewell Brands | household CPG | Feb 13, 2026 | $67M | $39M | -41.8% |
| 27 | CRICarter's | apparel CPG | Feb 27, 2026 | $255M | $144M | -43.5% |
| 28 | AEOAmerican Eagle | apparel retail | Mar 30, 2026 | $427M | $226M | -47.1% |
| 29 | EPCEdgewell | personal care CPG | Nov 18, 2025 | $199M | $97M | -51.5% |
| 30 | ELFe.l.f. Beauty | beauty CPG | May 21, 2026 | $158M | $74M | -53.4% |
| 31 | CROXCrocs | footwear DTC | Feb 12, 2026 | $1.0B | $150M | -85.4% |
| 32 | OLPXOlaplex | haircare CPG | Mar 5, 2026 | $67M | $7M | -89.6% |
Lowest cost of goods as a share of revenue — the sourcing-and-pricing-power leaders. Cohort median: 54.3% across 45 companies.
| Rank | Company | Category | Filing date | COGS efficiency |
|---|---|---|---|---|
| 🏆 | HIMSHims & Hers Health | telehealth DTC | Feb 23, 2026 | 26.2% |
| 🥈 | ETSYEtsy | marketplace DTC | Feb 19, 2026 | 28.4% |
| 🥉 | ELFe.l.f. Beauty | beauty CPG | May 21, 2026 | 29.3% |
| 4 | OLPXOlaplex | haircare CPG | Mar 5, 2026 | 30.6% |
| 5 | FIGSFIGS | apparel DTC | Feb 26, 2026 | 33.5% |
| 6 | SKINBeauty Health | beauty CPG | Mar 12, 2026 | 34.7% |
| 7 | COTYCoty | beauty CPG | Aug 20, 2026 | 37.1% |
| 8 | LEVILevi Strauss | apparel DTC+wholesale | Jan 28, 2026 | 38.3% |
| 9 | BARKBark Inc. | pet DTC | Jun 10, 2026 | 38.7% |
| 10 | CROXCrocs | footwear DTC | Feb 12, 2026 | 41.7% |
| 11 | KVUEKenvue | consumer health CPG | Feb 20, 2026 | 41.9% |
| 12 | YETIYeti | outdoor DTC | Feb 27, 2026 | 42.6% |
| 13 | LULULululemon | apparel DTC+retail | Mar 17, 2026 | 43.4% |
| 14 | MNSTMonster Beverage | beverage CPG | Feb 27, 2026 | 44.1% |
| 15 | MOVMovado | accessories | Mar 19, 2026 | 45.8% |
| 16 | WRBYWarby Parker | eyewear DTC | Feb 26, 2026 | 46.0% |
| 17 | RVLVRevolve | apparel DTC | Feb 25, 2026 | 46.5% |
| 18 | SBHSally Beauty | beauty retail | Nov 13, 2025 | 48.4% |
| 19 | CELHCelsius Holdings | beverage CPG | Mar 2, 2026 | 49.6% |
| 20 | SAMBoston Beer | beverage CPG | Feb 24, 2026 | 51.5% |
| 21 | GOLFAcushnet (Titleist) | sporting goods DTC | Feb 27, 2026 | 52.3% |
| 22 | GCOGenesco | footwear retail | Mar 25, 2026 | 53.7% |
| 23 | HELEHelen of Troy | household CPG | Apr 23, 2026 | 54.3% |
| 24 | CHDChurch & Dwight | household CPG | Feb 12, 2026 | 55.3% |
| 25 | SFIXStitch Fix | apparel DTC | Sep 25, 2025 | 55.6% |
| 26 | ENREnergizer | household CPG | Nov 18, 2025 | 58.2% |
| 27 | EPCEdgewell | personal care CPG | Nov 18, 2025 | 58.4% |
| 28 | PRPLPurple Innovation | mattress DTC | Mar 31, 2026 | 59.8% |
| 29 | ULTAUlta Beauty | beauty retail | Mar 26, 2026 | 60.9% |
| 30 | HBIHanesbrands | apparel CPG | Feb 14, 2025 | 61.2% |
| 31 | BOOTBoot Barn | footwear retail | May 14, 2026 | 61.9% |
| 32 | VITLVital Farms | food CPG | Feb 26, 2026 | 62.4% |
| 33 | SPBSpectrum Brands | household CPG | Nov 18, 2025 | 63.3% |
| 34 | AEOAmerican Eagle | apparel retail | Mar 30, 2026 | 63.5% |
| 35 | URBNUrban Outfitters | apparel retail | Apr 1, 2026 | 64.0% |
| 36 | NWLNewell Brands | household CPG | Feb 13, 2026 | 66.2% |
| 37 | HNSTHonest Co | personal care DTC | Feb 25, 2026 | 66.7% |
| 38 | BRBRBellRing Brands | food CPG | Nov 18, 2025 | 66.7% |
| 39 | CRICarter's | apparel CPG | Feb 27, 2026 | 69.4% |
| 40 | CHWYChewy | pet DTC | Mar 25, 2026 | 70.2% |
| 41 | HAINHain Celestial | food CPG | Sep 15, 2025 | 78.6% |
| 42 | THSTreeHouse Foods | food CPG | Feb 14, 2025 | 83.7% |
| 43 | FNKOFunko | collectibles DTC | Mar 12, 2026 | 84.0% |
| 44 | PETSPetMed Express | pet DTC | Jun 2, 2026 | 88.2% |
| 45 | BYNDBeyond Meat | food CPG | Apr 9, 2026 | 97.2% |
Gross margin minus selling & marketing — a conservative public-company stand-in for contribution margin after marketing (CM3). Not true CM3; see methodology. Cohort median: 35.3% across 37 companies.
| Rank | Company | Category | Filing date | CM3 proxy |
|---|---|---|---|---|
| 🏆 | CROXCrocs | footwear DTC | Feb 12, 2026 | 56.9% |
| 🥈 | LEVILevi Strauss | apparel DTC+wholesale | Jan 28, 2026 | 54.8% |
| 🥉 | BARKBark Inc. | pet DTC | Jun 10, 2026 | 52.6% |
| 4 | FIGSFIGS | apparel DTC | Feb 26, 2026 | 51.8% |
| 5 | LULULululemon | apparel DTC+retail | Mar 17, 2026 | 51.0% |
| 6 | SBHSally Beauty | beauty retail | Nov 13, 2025 | 49.8% |
| 7 | YETIYeti | outdoor DTC | Feb 27, 2026 | 49.6% |
| 8 | ELFe.l.f. Beauty | beauty CPG | May 21, 2026 | 48.6% |
| 9 | KVUEKenvue | consumer health CPG | Feb 20, 2026 | 46.0% |
| 10 | CELHCelsius Holdings | beverage CPG | Mar 2, 2026 | 44.0% |
| 11 | CRICarter's | apparel CPG | Feb 27, 2026 | 42.4% |
| 12 | WRBYWarby Parker | eyewear DTC | Feb 26, 2026 | 41.3% |
| 13 | GCOGenesco | footwear retail | Mar 25, 2026 | 40.5% |
| 14 | ETSYEtsy | marketplace DTC | Feb 19, 2026 | 39.9% |
| 15 | RVLVRevolve | apparel DTC | Feb 25, 2026 | 39.2% |
| 16 | HELEHelen of Troy | household CPG | Apr 23, 2026 | 38.2% |
| 17 | ENREnergizer | household CPG | Nov 18, 2025 | 38.0% |
| 18 | EPCEdgewell | personal care CPG | Nov 18, 2025 | 35.9% |
| 19 | BOOTBoot Barn | footwear retail | May 14, 2026 | 35.3% |
| 20 | COTYCoty | beauty CPG | Aug 20, 2026 | 35.2% |
| 21 | SFIXStitch Fix | apparel DTC | Sep 25, 2025 | 35.2% |
| 22 | ULTAUlta Beauty | beauty retail | Mar 26, 2026 | 35.1% |
| 23 | MOVMovado | accessories | Mar 19, 2026 | 34.7% |
| 24 | HIMSHims & Hers Health | telehealth DTC | Feb 23, 2026 | 34.7% |
| 25 | SKINBeauty Health | beauty CPG | Mar 12, 2026 | 34.2% |
| 26 | URBNUrban Outfitters | apparel retail | Apr 1, 2026 | 34.1% |
| 27 | HBIHanesbrands | apparel CPG | Feb 14, 2025 | 33.8% |
| 28 | SPBSpectrum Brands | household CPG | Nov 18, 2025 | 33.6% |
| 29 | AEOAmerican Eagle | apparel retail | Mar 30, 2026 | 32.0% |
| 30 | NWLNewell Brands | household CPG | Feb 13, 2026 | 27.8% |
| 31 | HNSTHonest Co | personal care DTC | Feb 25, 2026 | 19.5% |
| 32 | HAINHain Celestial | food CPG | Sep 15, 2025 | 19.4% |
| 33 | SAMBoston Beer | beverage CPG | Feb 24, 2026 | 17.4% |
| 34 | PETSPetMed Express | pet DTC | Jun 2, 2026 | 16.0% |
| 35 | THSTreeHouse Foods | food CPG | Feb 14, 2025 | 11.8% |
| 36 | PRPLPurple Innovation | mattress DTC | Mar 31, 2026 | 8.9% |
| 37 | BYNDBeyond Meat | food CPG | Apr 9, 2026 | 0.6% |
How to read this board
Each ranking is computed from the company's most recent audited annual report. Revenue and profit growth are year-over-year; a figure shows as n/m when the prior-year base was a loss or near zero (a percentage off a loss is not meaningful) — the dollar change still appears.
The CM3 proxy is gross margin minus reported selling & marketing expense: a conservative public-company stand-in for contribution margin after marketing, not true CM3 (public filings bury fulfillment in COGS or SG&A and report total marketing, salaries included, not media spend). An * marks a net or operating result distorted by one-off items — e.g. Beyond Meat's FY2025 +79% net margin is a one-time debt-extinguishment gain sitting on top of a −121% operating margin, not real profit.
Fiscal years differ across companies, so each row is labelled with its filing year. Foreign private issuers that don't file a U.S. annual report are excluded. Want the narrative behind the numbers? Read the FY2025 public DTC margin leaderboard.
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