Capri Holdings Ltd (CPRI) is overvalued and Therealreal Inc (REAL) is overvalued.
Both trade above our estimate of their intrinsic value. REAL is the closer of the two: -75%, against -89% for CPRI.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.6% values the shares at $8.04; the price of $15.19 is 89% above that value.
Leak Score 14/100 on 3 of 12 signals
A 0.9x revenue multiple, discounted for its losses, values the shares at $5.66; the price of $9.90 is 75% above that value.
Leak Score 40/100 on 7 of 12 signals
| Metric | CPRI | REAL |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $15.19 | $9.90 |
| Intrinsic value | $8.04 | $5.66 |
| Margin of safety | -89% | -75% |
| Leak Score | 14/100 (3/12) | 40/100 (7/12) |
| Market cap | $1.7B | $1.2B |
| Revenue growth, 5 years | -3.1% | 18.2% |
| Operating margin | 2.4% | -0.6% |
| Net margin | 3.1% | -10.8% |
| Return on equity | 152.1% | — |
| Debt to equity | 10.09 | — |
| P/E | 16.6x | — |
| Forward P/E | 6.0x | 42.1x |
| P/B | 12.5x | — |