NYSE : PVH
PVH Corp. — Financial statements
Consumer Discretionary · Apparel Manufacturing · United States
Last price 90.19 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 4.16B
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Financial statements
PVH Corp. (PVH) reported revenue of 8.92B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year March - February; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 8.92B | 8.95B | 8.65B | 9.22B | 9.02B | 9.15B |
| Cost of Revenue | 3.78B | 3.80B | 3.51B | 3.85B | 3.90B | 3.83B |
| Gross Profit | 5.14B | 5.15B | 5.14B | 5.36B | 5.12B | 5.32B |
| Selling, General & Admin | 4.45B | 4.38B | 4.39B | 4.43B | 4.21B | 4.33B |
| Operating Expenses | 4.45B | 4.38B | 4.39B | 4.43B | 4.21B | 4.33B |
| Operating Income | 683.00M | 765.70M | 748.30M | 934.80M | 908.70M | 995.00M |
| Interest Expense | -91.00M | -94.20M | -89.80M | -99.30M | -89.60M | -108.60M |
| Interest & Investment Income | 23.60M | 14.90M | 23.20M | 11.50M | 7.10M | 4.40M |
| Earnings From Equity Investments | 49.30M | 44.70M | 48.20M | 45.70M | 50.40M | 23.70M |
| EBT Excluding Unusual Items | 664.90M | 731.10M | 729.90M | 892.70M | 876.60M | 914.50M |
| Merger & Restructuring Charges | -19.70M | -86.50M | -24.00M | -61.30M | -63.20M | -68.70M |
| Impairment of Goodwill | -439.00M | -426.00M | -417.10M | |||
| Gain (Loss) on Sale of Assets | 10.00M | 15.30M | 118.90M | |||
| Asset Writedown | -17.30M | -67.30M | -10.20M | -5.70M | -8.10M | -18.90M |
| Other Unusual Items | 106.70M | 26.90M | ||||
| Pretax Income | 295.60M | 151.30M | 705.70M | 841.00M | 388.20M | 972.70M |
| Income Tax Expense | 464.60M | 126.00M | 107.20M | 177.40M | 187.80M | 20.70M |
| Earnings From Continuing Operations | -169.00M | 25.30M | 598.50M | 663.60M | 200.40M | 952.00M |
| Minority Interest in Earnings | 300.00K | |||||
| Net Income | -169.00M | 25.30M | 598.50M | 663.60M | 200.40M | 952.30M |
| Net Income to Common | -169.00M | 25.30M | 598.50M | 663.60M | 200.40M | 952.30M |
| Shares Outstanding (Basic) | 46.30M | 48.10M | 56.00M | 61.00M | 65.70M | 70.80M |
| Shares Outstanding (Diluted) | 46.30M | 48.50M | 56.70M | 61.70M | 66.20M | 71.90M |
| EPS (Basic) | -3.65 | 0.53 | 10.69 | 10.88 | 3.05 | 13.45 |
| EPS (Diluted) | -3.65 | 0.52 | 10.56 | 10.76 | 3.03 | 13.25 |
| Free Cash Flow | 715.00M | 538.40M | 582.20M | 724.70M | -250.90M | 803.30M |
| Free Cash Flow Per Share | 15.44 | 11.10 | 10.27 | 11.75 | -3.79 | 11.17 |
| Dividend Per Share | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.04 |
| Gross Margin | 57.58% | 57.53% | 59.43% | 58.18% | 56.77% | 58.16% |
| Operating Margin | 7.66% | 8.55% | 8.65% | 10.14% | 10.07% | 10.87% |
| Profit Margin | -1.89% | 0.28% | 6.92% | 7.20% | 2.22% | 10.40% |
| Free Cash Flow Margin | 8.01% | 6.02% | 6.73% | 7.86% | -2.78% | 8.77% |
| EBITDA | 919.80M | 1.02B | 1.01B | 1.22B | 1.20B | 1.30B |
| EBITDA Margin | 10.31% | 11.39% | 11.68% | 13.20% | 13.29% | 14.22% |
| D&A For EBITDA | 236.80M | 253.40M | 262.10M | 281.70M | 290.90M | 307.10M |
| EBIT | 683.00M | 765.70M | 748.30M | 934.80M | 908.70M | 995.00M |
| EBIT Margin | 7.66% | 8.55% | 8.65% | 10.14% | 10.07% | 10.87% |
| Effective Tax Rate | 157.17% | 83.28% | 15.19% | 21.09% | 48.38% | 2.13% |
| Revenue as Reported | 9.02B | 9.15B | ||||
| Advertising Expenses | 535.80M |
Balance sheet
Fiscal year March - February; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 965.90M | 701.50M | 748.00M | 707.60M | 550.70M | 1.24B |
| Cash & Short-Term Investments | 965.90M | 701.50M | 748.00M | 707.60M | 550.70M | 1.24B |
| Accounts Receivable | 921.40M | 994.60M | 851.20M | 793.30M | 923.70M | 745.20M |
| Other Receivables | 20.20M | 23.30M | 25.10M | 13.90M | 21.50M | 20.10M |
| Receivables | 941.60M | 1.02B | 876.30M | 807.20M | 945.20M | 765.30M |
| Inventory | 1.74B | 1.58B | 1.51B | 1.42B | 1.80B | 1.35B |
| Prepaid Expenses | 254.40M | 219.00M | 210.50M | 237.70M | 209.20M | 169.00M |
| Other Current Assets | 82.60M | 83.30M | 144.10M | 87.50M | 72.70M | 128.40M |
| Total Current Assets | 3.98B | 3.61B | 3.49B | 3.26B | 3.58B | 3.65B |
| Property, Plant & Equipment | 2.40B | 2.54B | 1.90B | 2.08B | 2.20B | 2.26B |
| Long-Term Investments | 214.30M | 198.20M | 215.50M | 190.20M | 165.30M | |
| Goodwill | 1.55B | 2.02B | 2.26B | 2.32B | 2.36B | 2.83B |
| Other Intangible Assets | 3.07B | 3.10B | 3.02B | 3.10B | 3.25B | 3.31B |
| Long-Term Deferred Tax Assets | 94.70M | 99.00M | 37.00M | 33.80M | 33.80M | 46.10M |
| Other Long-Term Assets | 319.40M | 109.20M | 130.90M | 168.00M | 155.30M | 140.70M |
| Total Assets | 11.42B | 11.68B | 11.03B | 11.17B | 11.77B | 12.40B |
| Accounts Payable | 1.30B | 1.15B | 1.15B | 1.07B | 1.33B | 1.22B |
| Accrued Expenses | 698.00M | 787.50M | 730.90M | 748.20M | 823.10M | 1.10B |
| Short-Term Debt | 46.20M | 10.80M | ||||
| Current Portion of Long-Term Debt | 11.50M | 13.10M | 510.80M | 577.50M | 111.90M | 34.80M |
| Current Portion of Leases | 349.30M | 348.60M | 292.30M | 293.00M | 358.20M | 379.40M |
| Current Unearned Revenue | 52.70M | 49.00M | 55.30M | 55.50M | 54.30M | 44.90M |
| Other Current Liabilities | 5.70M | 31.10M | 1.50M | 23.90M | 46.40M | 1.70M |
| Total Current Liabilities | 2.42B | 2.38B | 2.74B | 2.77B | 2.77B | 2.79B |
| Long-Term Debt | 2.24B | 2.29B | 1.58B | 1.59B | 2.18B | 2.32B |
| Long-Term Leases | 1.57B | 1.65B | 1.01B | 1.08B | 1.15B | 1.22B |
| Long-Term Unearned Revenue | 3.90M | 4.70M | 6.80M | 9.40M | 12.10M | 15.00M |
| Long-Term Deferred Tax Liabilities | 158.40M | 307.30M | 333.50M | 346.10M | 357.50M | 373.90M |
| Other Long-Term Liabilities | 242.50M | 260.60M | 216.70M | 253.90M | 294.20M | 394.40M |
| Total Liabilities | 6.62B | 6.89B | 5.89B | 6.05B | 6.76B | 7.11B |
| Common Stock | 90.10M | 89.60M | 89.10M | 88.60M | 87.60M | 87.10M |
| Additional Paid-In Capital | 3.49B | 3.46B | 3.37B | 3.31B | 3.24B | 3.20B |
| Retained Earnings | 6.00B | 6.01B | 6.00B | 5.41B | 4.75B | 4.56B |
| Treasury Stock | -4.10B | -4.09B | -3.46B | -2.94B | -2.36B | -1.95B |
| Comprehensive Income & Other | -678.90M | -688.80M | -856.80M | -753.60M | -713.10M | -612.70M |
| Total Common Equity | 4.79B | 4.79B | 5.14B | 5.12B | 5.01B | 5.29B |
| Shareholders' Equity | 4.79B | 4.79B | 5.14B | 5.12B | 5.01B | 5.29B |
| Total Liabilities & Equity | 11.42B | 11.68B | 11.03B | 11.17B | 11.77B | 12.40B |
| Total Debt | 4.16B | 4.30B | 3.40B | 3.54B | 3.84B | 3.96B |
| Net Cash (Debt) | -3.20B | -3.60B | -2.65B | -2.84B | -3.29B | -2.72B |
| Net Cash Per Share | -69.09 | -74.23 | -46.72 | -45.96 | -49.70 | -37.83 |
| Filing Date Shares Outstanding | 46.14M | 45.81M | 52.64M | 57.69M | 62.71M | 68.01M |
| Total Common Shares Outstanding | 46.13M | 45.81M | 53.25M | 57.63M | 62.71M | 68.53M |
| Working Capital | 1.57B | 1.23B | 745.80M | 488.20M | 812.90M | 866.20M |
| Book Value Per Share | 103.87 | 104.62 | 96.54 | 88.82 | 79.94 | 77.17 |
| Tangible Book Value | 176.70M | -325.80M | -140.50M | -300.60M | -596.20M | -847.10M |
| Tangible Book Value Per Share | 3.83 | -7.11 | -2.64 | -5.22 | -9.51 | -12.36 |
| Land | 1.00M | 1.00M | 1.00M | 1.00M | ||
| Buildings | 30.40M | 30.70M | 30.70M | 30.60M | ||
| Machinery | 2.05B | 1.85B | 1.88B | 1.92B | 1.76B | |
| Construction In Progress | 29.10M | 71.30M | 80.60M | 88.30M | 97.30M | |
| Leasehold Improvements | 827.30M | 770.50M | 770.40M | 768.20M | 765.10M |
Cash flow statement
Fiscal year March - February; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | -169.00M | 25.30M | 598.50M | 663.60M | 200.40M | 952.30M |
| Depreciation & Amortization | 236.80M | 253.40M | 262.10M | 281.70M | 290.90M | 307.10M |
| Other Amortization | 18.90M | 18.90M | 20.10M | 16.90M | 10.60M | 6.20M |
| Loss (Gain) From Sale of Assets | -15.30M | -118.90M | ||||
| Asset Writedown & Restructuring Costs | 431.00M | 493.30M | 10.20M | 5.70M | 468.80M | 47.00M |
| Loss (Gain) on Equity Investments | -49.30M | -44.70M | -48.20M | -45.70M | -50.40M | -23.70M |
| Stock-Based Compensation | 43.20M | 44.10M | 54.00M | 51.90M | 46.60M | 46.80M |
| Other Operating Activities | 256.40M | -56.90M | -16.90M | -59.90M | -68.60M | -113.90M |
| Change in Accounts Receivable | -26.50M | -93.30M | -82.80M | 118.90M | -188.50M | -138.10M |
| Change in Inventory | 51.80M | 28.50M | -133.80M | 307.60M | -466.90M | -33.90M |
| Change in Accounts Payable | -18.60M | -86.10M | 95.30M | -318.80M | -62.60M | 260.70M |
| Change in Other Net Operating Assets | 100.40M | 97.90M | -17.60M | -37.20M | -141.10M | -120.40M |
| Operating Cash Flow | 875.10M | 680.40M | 740.90M | 969.40M | 39.20M | 1.07B |
| Capital Expenditures | -160.10M | -142.00M | -158.70M | -244.70M | -290.10M | -267.90M |
| Divestitures | 37.70M | 2.50M | 17.00M | 160.00M | 222.90M | |
| Investment in Securities | 1.40M | 19.10M | ||||
| Other Investing Activities | 4.70M | -600.00K | 4.00M | -1.80M | -7.20M | |
| Investing Cash Flow | -117.70M | -140.10M | -137.70M | -85.10M | -278.20M | -45.00M |
| Short-Term Debt Issued | 36.60M | 10.50M | ||||
| Long-Term Debt Issued | 494.00M | 553.10M | 456.40M | |||
| Total Debt Issued | 452.00M | 494.00M | 553.10M | 493.00M | 10.50M | |
| Short-Term Debt Repaid | -43.50M | |||||
| Long-Term Debt Repaid | -515.90M | -577.40M | -116.50M | -492.50M | -1.06B | |
| Total Debt Repaid | -473.00M | -515.90M | -577.40M | -160.00M | -492.50M | -1.06B |
| Net Debt Issued (Repaid) | -21.00M | -21.90M | -24.30M | -160.00M | 500.00K | -1.05B |
| Issuance of Common Stock | 1.40M | 7.30M | 17.90M | 26.70M | ||
| Repurchase of Common Stock | -17.60M | -577.70M | -524.80M | -570.30M | -418.60M | -361.30M |
| Common Dividends Paid | -7.10M | -7.50M | -8.60M | -9.40M | -10.10M | -2.70M |
| Other Financing Activities | -15.20M | |||||
| Financing Cash Flow | -45.70M | -605.70M | -550.40M | -721.80M | -428.20M | -1.40B |
| Foreign Exchange Rate Adjustments | 5.40M | 18.90M | -12.40M | -5.60M | -24.60M | -36.60M |
| Net Cash Flow | 717.10M | -46.50M | 40.40M | 156.90M | -691.80M | -408.90M |
| Free Cash Flow | 715.00M | 538.40M | 582.20M | 724.70M | -250.90M | 803.30M |
| Free Cash Flow Margin | 8.01% | 6.02% | 6.73% | 7.86% | -2.78% | 8.77% |
| Free Cash Flow Per Share | 15.44 | 11.10 | 10.27 | 11.75 | -3.79 | 11.17 |
| Levered Free Cash Flow | 529.80M | 505.79M | 439.26M | 755.39M | -159.86M | 778.40M |
| Unlevered Free Cash Flow | 586.67M | 564.66M | 495.39M | 817.45M | -103.86M | 846.27M |
| Cash Interest Paid | 91.90M | 91.90M | 78.40M | 96.40M | 82.10M | 96.80M |
| Cash Income Tax Paid | 165.60M | 209.80M | 254.50M | 155.40M | ||
| Change in Working Capital | 107.10M | -53.00M | -138.90M | 70.50M | -859.10M | -31.70M |
Ratios
Fiscal year March - February; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.33B | 2.86B | 4.98B | 7.24B | 5.57B | 6.51B |
| Enterprise Value | 7.52B | 6.96B | 7.94B | 10.55B | 8.76B | 9.57B |
| Last Close Price | 90.19 | 62.27 | 89.30 | 120.81 | 87.37 | 92.22 |
| PE Ratio | 112.89 | 8.33 | 10.91 | 27.81 | 6.84 | |
| Forward PE | 8.47 | 5.29 | 7.62 | 10.26 | 10.32 | 8.95 |
| PS Ratio | 0.49 | 0.32 | 0.58 | 0.79 | 0.62 | 0.71 |
| PB Ratio | 0.87 | 0.60 | 0.97 | 1.41 | 1.11 | 1.23 |
| P/FCF Ratio | 6.07 | 5.30 | 8.56 | 9.99 | 8.11 | |
| P/OCF Ratio | 4.96 | 4.20 | 6.73 | 7.47 | 142.16 | 6.08 |
| PEG Ratio | 1.23 | 2.05 | 0.76 | 0.76 | 8.78 | 1.79 |
| EV/Sales Ratio | 0.85 | 0.78 | 0.92 | 1.15 | 0.97 | 1.05 |
| EV/EBITDA Ratio | 8.20 | 6.83 | 7.86 | 8.67 | 7.30 | 7.35 |
| EV/EBIT Ratio | 11.04 | 9.09 | 10.61 | 11.29 | 9.64 | 9.62 |
| EV/FCF Ratio | 10.55 | 12.92 | 13.64 | 14.56 | 11.92 | |
| Debt / Equity Ratio | 0.87 | 0.90 | 0.66 | 0.69 | 0.77 | 0.75 |
| Debt / EBITDA Ratio | 2.65 | 2.61 | 2.13 | 1.98 | 2.20 | 2.10 |
| Debt / FCF Ratio | 5.83 | 7.99 | 5.83 | 4.89 | 4.93 | |
| Net Debt / Equity Ratio | 0.67 | 0.75 | 0.52 | 0.55 | 0.66 | 0.51 |
| Net Debt / EBITDA Ratio | 3.48 | 3.53 | 2.62 | 2.33 | 2.74 | 2.09 |
| Net Debt / FCF Ratio | 4.47 | 6.69 | 4.55 | 3.91 | -13.11 | 3.39 |
| Asset Turnover | 0.77 | 0.79 | 0.78 | 0.80 | 0.75 | 0.71 |
| Inventory Turnover | 2.14 | 2.46 | 2.40 | 2.39 | 2.48 | 2.77 |
| Quick Ratio | 0.79 | 0.72 | 0.59 | 0.55 | 0.54 | 0.72 |
| Current Ratio | 1.65 | 1.52 | 1.27 | 1.18 | 1.29 | 1.31 |
| Return on Equity (ROE) | -3.50% | 0.51% | 11.67% | 13.10% | 3.89% | 19.01% |
| Return on Assets (ROA) | 3.71% | 4.21% | 4.21% | 5.09% | 4.70% | 4.84% |
| Return on Invested Capital (ROIC) | -4.73% | 1.58% | 8.06% | 9.07% | 5.75% | 11.80% |
| Return on Capital Employed (ROCE) | 7.60% | 8.20% | 9.00% | 11.10% | 10.10% | 10.40% |
| Earnings Yield | -3.89% | 0.89% | 12.01% | 9.17% | 3.60% | 14.63% |
| FCF Yield | 16.47% | 18.85% | 11.68% | 10.01% | -4.50% | 12.34% |
| Dividend Yield | 0.16% | 0.24% | 0.16% | 0.12% | 0.17% | 0.04% |
| Payout Ratio | 29.64% | 1.44% | 1.42% | 5.04% | 0.28% | |
| Buyback Yield / Dilution | 12.64% | 14.46% | 8.10% | 6.80% | 7.93% | -0.98% |
| Total Shareholder Return | 12.80% | 14.70% | 8.26% | 6.92% | 8.10% | -0.94% |