Tearsheet

VF (VFC)

Market Price (2/23/2026): $21.235 | Market Cap: $8.3 Bil
Sector: Consumer Discretionary | Industry: Apparel, Accessories & Luxury Goods

VF (VFC)

Market Price (2/23/2026): $21.235
Market Cap: $8.3 Bil
Sector: Consumer Discretionary
Industry: Apparel, Accessories & Luxury Goods

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Megatrend and thematic drivers Megatrends include E-commerce & Digital Retail, Sustainable Consumption, and Experience Economy & Premiumization. Themes include Direct-to-Consumer Brands, Show more.	Weak multi-year price returns 2Y Excs Rtn is -7.2%, 3Y Excs Rtn is -83%	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -6.2%
1			Key risks VFC key risks include [1] a highly leveraged balance sheet and debt management challenges, Show more.

0	Megatrend and thematic drivers Megatrends include E-commerce & Digital Retail, Sustainable Consumption, and Experience Economy & Premiumization. Themes include Direct-to-Consumer Brands, Show more.
1	Weak multi-year price returns 2Y Excs Rtn is -7.2%, 3Y Excs Rtn is -83%
2	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -6.2%
3	Key risks VFC key risks include [1] a highly leveraged balance sheet and debt management challenges, Show more.

Valuation, Metrics & Events

	2/23/26	2025	2024	2023	2022
Share Price CYE	$21.23	$18.08	$21.46	$18.80	$27.61
Market Cap CYE ($ Bil)	8.3	7.1	8.4	7.3	10.7
Total Debt ($ Bil)	5.3	5.3	5.8	7.3	7.5
Total Cash ($ Bil)	1.5	1.5	1.4	1.0	0.6
Enterprise Value ($ Bil)	12.2	12.4	14.2	14.6	18.2
Valuation Ratios
P/S TTM	0.9	0.7	0.9	0.7	0.9
P/EBIT TTM	14.8	12.6	269.7	9.2	18.3
P/E TTM	37.2	31.6	-18.3	-9.5	25.8
P/FCF TTM	26.8	22.8	19.9	6.8	-10.5
Sector Ratios
P/S TTM (Sector)	0.9	0.8	0.8	0.9	0.8
P/EBIT TTM (Sector)	8.9	7.9	8.4	8.0	6.4
P/E TTM (Sector)	12.2	11.2	11.3	11.1	8.3
P/FCF TTM (Sector)	11.7	11.4	11.8	9.3	5.9

	2/23/26	2025	2024
Share Price CYE	$21.23	$18.08	$21.46
Market Cap CYE ($ Bil)	8.3	7.1	8.4
Total Debt ($ Bil)	5.3	5.3	5.8
Total Cash ($ Bil)	1.5	1.5	1.4
Enterprise Value ($ Bil)	12.2	12.4	14.2
Valuation Ratios
P/S TTM	0.9	0.7	0.9
P/EBIT TTM	14.8	12.6	269.7
P/E TTM	37.2	31.6	-18.3
P/FCF TTM	26.8	22.8	19.9
Sector Ratios
P/S TTM (Sector)	0.9	0.8	0.8
P/EBIT TTM (Sector)	8.9	7.9	8.4
P/E TTM (Sector)	12.2	11.2	11.3
P/FCF TTM (Sector)	11.7	11.4	11.8

	VFC	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	9.6
Rev Chg Q	1.5%	7.6%
Rev Chg LTM	-0.3%	6.5%
Rev Chg 3Y Avg	-6.2%	5.6%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	0.5
CFO LTM ($ Bil)	0.5
Net Inc LTM ($ Bil)	0.2
Op Mgn LTM	5.3%	18.8%
CFO/Rev LTM	4.9%	20.7%
Net Inc Mgn	2.3%	12.8%
VALUATION	MODERATE
P/S	0.9	3.4
P/CFO	17.8	16.5
P/FCF	26.8	21.4
P/E	37.2	25.1
STABILITY	GOOD
Debt/Equity	0.64	0.20
Cash/Assets	0.14	0.07

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Metric	Value	Date	Source
Direct-to-consumer Revenue Percentage	44%	3292025	Link
Wholesale Revenue Percentage	56%	3292025	Link
Number of VF-operated retail stores	1127	3292025	Link
E-commerce Revenue Percentage of Total Revenue	18%	3292025	Link
Number of Associates	~30,000	11102025	Link
Number of Countries Where Products are Sold	100	11102025	Link

Recent
1/28/2026	Earnings Release	Rev: $2.0 Bil (A) vs. $2.0 Bil (E) EPS: 0.58 (A) vs. $0.43 (E)
Upcoming
3/10/2026	Dividend	Amount: $0.09 Payment On: 3/19/2026
5/15/2026	Earnings Release	Rev: $2.0 Bil (E) EPS: $-0.01 (E)

Price Chart

Return (1M):

Why The Stock Moved

Qualitative Assessment

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VF (VFC) stock has gained about 50% since 10/31/2025 because of the following key factors:

1. Stronger-than-anticipated Q2 Fiscal 2026 Earnings and Strategic Progress.

VF Corporation's stock began its upward trend following its Q2 fiscal 2026 earnings report on October 28, 2025, which surpassed analyst expectations. The company reported an adjusted earnings per share (EPS) of $0.52, a 23.81% beat over the $0.42 forecast, and revenue of $2.8 billion, exceeding the $2.73 billion projection by 2.56%. This period also saw significant strides in its "Reinvent" program, notably the completion of the sale of the Dickies brand for an estimated cash benefit greater than $600 million, contributing to a $1.5 billion (27%) reduction in net debt. These results, along with an operating income of $330 million which exceeded guidance of $260-$290 million, instilled investor confidence in the company's turnaround efforts.

2. Continued Positive Momentum from Q3 Fiscal 2026 Earnings.

The positive sentiment continued with the Q3 fiscal 2026 earnings reported on January 28, 2026. VF Corporation again exceeded analyst expectations, delivering an adjusted EPS of $0.58 against a consensus estimate of $0.43 to $0.46, and revenue of $2.88 billion, beating estimates of $2.79 billion to $2.81 billion. This demonstrated sustained operational improvement, particularly with the Outdoor segment's revenue increasing by 8% on a reported basis (5% in constant currency), driven by strong performance from The North Face and Timberland brands, which grew 8% and 5% respectively in constant currency. The Americas region also achieved its strongest performance in over three years, with a 6% constant-currency growth excluding the Dickies brand, and global direct-to-consumer (DTC) sales inflecting to a positive 3% growth in constant currency excluding Dickies.

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Stock Movement Drivers

Fundamental Drivers

The 52.0% change in VFC stock from 10/31/2025 to 2/22/2026 was primarily driven by a 146.2% change in the company's Net Income Margin (%).

(LTM values as of)	10312025	2222026	Change
Stock Price ($)	13.97	21.23	52.0%
Change Contribution By:
Total Revenues ($ Mil)	9,541	9,583	0.4%
Net Income Margin (%)	0.9%	2.3%	146.2%
P/E Multiple	60.4	37.1	-38.5%
Shares Outstanding (Mil)	391	391	-0.1%
Cumulative Contribution			52.0%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 2/22/2026

	Return	Correlation
VFC	52.0%
Market (SPY)	1.1%	46.5%
Sector (XLY)	-2.1%	58.2%

Fundamental Drivers

The 83.1% change in VFC stock from 7/31/2025 to 2/22/2026 was primarily driven by a 81.9% change in the company's P/S Multiple.

(LTM values as of)	7312025	2222026	Change
Stock Price ($)	11.59	21.23	83.1%
Change Contribution By:
Total Revenues ($ Mil)	9,496	9,583	0.9%
P/S Multiple	0.5	0.9	81.9%
Shares Outstanding (Mil)	390	391	-0.2%
Cumulative Contribution			83.1%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 2/22/2026

	Return	Correlation
VFC	83.1%
Market (SPY)	9.4%	42.8%
Sector (XLY)	6.3%	49.3%

Fundamental Drivers

The -16.4% change in VFC stock from 1/31/2025 to 2/22/2026 was primarily driven by a -15.8% change in the company's P/S Multiple.

(LTM values as of)	1312025	2222026	Change
Stock Price ($)	25.39	21.23	-16.4%
Change Contribution By:
Total Revenues ($ Mil)	9,608	9,583	-0.3%
P/S Multiple	1.0	0.9	-15.8%
Shares Outstanding (Mil)	389	391	-0.4%
Cumulative Contribution			-16.4%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2025 to 2/22/2026

	Return	Correlation
VFC	-16.4%
Market (SPY)	15.6%	67.2%
Sector (XLY)	1.8%	70.7%

Fundamental Drivers

The -24.7% change in VFC stock from 1/31/2023 to 2/22/2026 was primarily driven by a -35.2% change in the company's Net Income Margin (%).

(LTM values as of)	1312023	2222026	Change
Stock Price ($)	28.20	21.23	-24.7%
Change Contribution By:
Total Revenues ($ Mil)	11,791	9,583	-18.7%
Net Income Margin (%)	3.6%	2.3%	-35.2%
P/E Multiple	25.8	37.1	44.2%
Shares Outstanding (Mil)	388	391	-0.8%
Cumulative Contribution			-24.7%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2023 to 2/22/2026

	Return	Correlation
VFC	-24.7%
Market (SPY)	75.9%	45.7%
Sector (XLY)	61.7%	46.3%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
VFC Return	-12%	-60%	-29%	17%	-14%	15%	-71%
Peers Return	19%	-17%	25%	9%	-24%	5%	8%
S&P 500 Return	27%	-19%	24%	23%	16%	0%	83%
Monthly Win Rates [3]
VFC Win Rate	50%	17%	50%	58%	42%	100%
Peers Win Rate	53%	37%	65%	52%	47%	60%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
VFC Max Drawdown	-21%	-64%	-50%	-36%	-54%	0%
Peers Max Drawdown	-7%	-39%	-14%	-21%	-43%	-8%
S&P 500 Max Drawdown	-1%	-25%	-1%	-2%	-15%	-1%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: NKE, DECK, LULU, COLM, LEVI. See VFC Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/20/2026 (YTD)

How Low Can It Go

Unique Key	Event	VFC	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-85.5%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	587.4%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-54.1%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	117.9%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	Not Fully Recovered days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-30.1%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	43.0%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	359 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-58.3%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	139.8%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	825 days	1,480 days

Compare to NKE, DECK, LULU, COLM, LEVI

In The Past

VF's stock fell -85.5% during the 2022 Inflation Shock from a high on 5/4/2021. A -85.5% loss requires a 587.4% gain to breakeven.

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About VF (VFC)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

V.F. Corporation, together with its subsidiaries, engages in the design, production, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and related products for men, women, and children in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Outdoor, Active, and Work. The company offers outdoor, merino wool and other natural fibers-based, lifestyle, and casual apparel; equipment; accessories; outdoor lifestyle, performance-based, youth culture/action sports-inspired, streetwear, and protective work footwear; handbags, luggage, backpacks, totes, and travel accessories; and work and work-inspired lifestyle apparel and footwear. It provides its products under the North Face, Timberland, Smartwool, Icebreaker, Altra, Vans, Supreme, Kipling, Napapijri, Eastpak, JanSport, Eagle Creek, Dickies, and Timberland PRO brand names. The company sells its products primarily to specialty stores, department stores, national chains, and mass merchants, as well as sells through direct-to-consumer operations, including retail stores, concession retail stores, and e-commerce sites, and other digital platforms. V.F. Corporation was founded in 1899 and is headquartered in Denver, Colorado.

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1. PVH Corp for outdoor, active, and workwear brands.

2. LVMH for popular lifestyle apparel.

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Vans Footwear and Apparel: Offers a range of shoes, apparel, and accessories primarily for skateboarding and youth lifestyle.
The North Face Outdoor Gear: Provides performance apparel, footwear, and equipment for outdoor activities such as hiking, climbing, and skiing.
Timberland Footwear and Apparel: Sells durable boots, shoes, and clothing primarily for outdoor work and lifestyle use.
Dickies Workwear: Manufactures and distributes workwear clothing, including pants, shirts, and outerwear, known for durability.
Supreme Streetwear: Designs and sells fashion apparel, accessories, and skateboards, known for its strong brand identity and limited drops.

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VF Corporation (symbol: VFC) primarily sells its products to other companies through **wholesale channels**, which consistently account for over 60% of its total revenue. While VF Corporation does not disclose the names of specific major customers in its public filings (as no single customer accounts for more than 10% of its total revenues), its major customer base consists of a wide array of global retailers that carry its popular brands such as Vans, The North Face, Timberland, and Dickies. Based on VF Corporation's brand portfolio and market presence, the following are examples of prominent public companies that are significant wholesale customers or channel partners:

Macy's, Inc. (symbol: M) - A major department store chain that carries brands like The North Face and Timberland.
DICK'S Sporting Goods, Inc. (symbol: DKS) - A leading sporting goods retailer, a key partner for The North Face and Smartwool.
Foot Locker, Inc. (symbol: FL) - A prominent athletic footwear and apparel retailer that stocks Vans and Timberland.
Amazon.com, Inc. (symbol: AMZN) - A dominant online retailer that serves as both a direct seller and marketplace for numerous VF Corp brands.

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Bracken Darrell, President & CEO

Bracken Darrell was appointed President and Chief Executive Officer of VF Corporation in July 2023. He has over 30 years of experience in business leadership and brand management with global consumer companies. Before joining VF, Darrell served as President and CEO of Logitech International, S.A. for 10 years, beginning in January 2013. He is recognized for leading a turnaround at Logitech by expanding into new categories, increasing market share, and elevating design, which resulted in more than doubling revenue and a tenfold increase in market capitalization. Prior to Logitech, he held international leadership roles, including President of Braun globally at Procter & Gamble, President of EMEA at Whirlpool Corporation, and General Manager of Consumer Home Service at General Electric. Early in his career, he led the turnaround of the Old Spice brand at Procter & Gamble. He began his career with Arthur Andersen and then PepsiCo. Mr. Darrell has served as a director of Sonos, Inc. since February 2024.

Paul Vogel, Executive Vice President & Chief Financial Officer

Paul Vogel was appointed Executive Vice President and Chief Financial Officer of VF Corporation in July 2024. Before joining VF, he served as the Chief Financial Officer of Spotify Technology S.A. from January 2020 to March 2024.

Richard T. Carucci, Chairman Executive Board

Richard T. Carucci has served as the Chairman of VF Corporation since June 2023, and as a director on the board since 2009. He previously held the roles of President of Yum! Brands, Inc. from 2012 to 2014, and Chief Financial Officer of Yum! Brands, Inc. from 2005 to 2012. During his tenure at Yum! Brands, which he joined in 1997, he held various finance, international, and management positions. Prior to Yum! Brands' spin-off from PepsiCo in 1997, Carucci spent 13 years in international finance positions at PepsiCo.

Martino Scabbia Guerrini, Chief Commercial Officer and President Emerging Brands

Martino Scabbia Guerrini holds the titles of Chief Commercial Officer and President Emerging Brands at VF Corporation. He has also been noted as Executive Vice President and President, Europe, Middle East, Africa (EMEA) and Emerging Brands, and has served as President of EMEA at V.F. Corporation since April 1, 2017.

Velia Carboni, Executive Vice President & Chief Digital & Technology Officer

Velia Carboni serves as the Executive Vice President and Chief Digital & Technology Officer for VF Corporation.

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The key risks to VF Corporation (VFC) are:

Highly Leveraged Balance Sheet and Debt Management Challenges: VF Corporation faces a significant risk due to its heavily leveraged balance sheet and substantial debt burden, which have strained its financial resources, free cash flow, and margins. The company has been working on reducing leverage, including considering the sale of non-core brands to repay debt, and S&P Global Ratings downgraded VF Corp, anticipating the sale of at least one major brand to address its debt woes. Refinancing debt at current higher rates could substantially increase interest expenses and threaten financial viability.
Decline in Key Brand Performance and Shifting Consumer Preferences: A major risk for VF Corporation is the waning popularity and underperformance of its key brands, particularly Vans, which has seen significant declines in performance. This is attributed to "fashion missteps or changing consumer tastes" and ongoing wholesale weakness, hindering turnaround efforts. The company's revenue is heavily reliant on a few core brands like The North Face and Vans, meaning any decrease in their appeal could negatively impact financial results.
Class Action Lawsuit and Associated Legal/Reputational Risks: VF Corporation is currently facing a class action lawsuit, filed in September 2025, alleging that the company and its executives misled investors regarding the Vans brand's turnaround strategy and financial outlook. This lawsuit followed a reported 20% decline in Vans' Q4 performance in May 2025, which triggered a 15.8% drop in VFC's stock price and a $2.5 billion market loss. The litigation poses risks of potential large settlements, regulatory scrutiny over earnings management practices, and significant reputational damage.

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The rise of ultra-fast fashion retailers such as Shein and Temu represents a clear emerging threat. These companies leverage highly optimized, data-driven supply chains to deliver extremely low-priced, trend-driven apparel and footwear with unparalleled speed and variety. While VFC's portfolio includes premium and outdoor-focused brands, the aggressive market penetration and rapid capture of consumer attention by these platforms, especially among younger demographics, can draw away discretionary spending and significantly alter consumer expectations regarding product cycles, price points, and trend accessibility across the broader apparel market. This new model directly challenges traditional apparel industry dynamics, including the supply chain, design, and marketing strategies employed by established players like VFC.

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VF Corporation (VFC) operates in the global apparel, footwear, and accessories markets through its diverse portfolio of lifestyle brands. The addressable markets for its main products and services can be summarized as follows:

Global Apparel Market: The global apparel market is estimated to be approximately USD 1.80 trillion to USD 1.84 trillion in 2025.
- U.S. Apparel Market: The United States apparel market alone is valued at USD 365.70 billion.
- Europe Apparel Market: The apparel market in Europe is projected to reach USD 432.30 billion in 2025.
- Global Outdoor Apparel Market: This segment, which includes performance-based and outdoor apparel, was valued between USD 15.9 billion in 2024 and is projected to reach approximately USD 18.44 billion in 2025. North America is a leading region in the outdoor apparel market.
- Global Activewear Market: The global activewear market was estimated at USD 425.5 billion in 2022 and is projected to grow to USD 771.8 billion by 2032. North America dominated the activewear market in 2022.
Global Footwear Market: The global footwear market is projected to be between approximately USD 441.56 billion and USD 495.46 billion in 2025.
- North America Footwear Market: North America held a significant share of the global footwear market, with estimates ranging from 27.12% in 2024 to over 39.8% in 2024.
Accessories Market (e.g., Backpacks): While a specific global market size for all accessories like backpacks is not readily available, VF Corporation previously controlled a significant portion of the U.S. backpack market.

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Expected drivers of future revenue growth for VF Corporation (VFC) over the next 2-3 years include:

Vans Brand Turnaround and Product Innovation: A significant focus of VF Corporation's "Reinvent" transformation program is on revitalizing the Vans brand. This involves strategic actions in product innovation and marketing to address past declines and drive future growth.
Sustained Growth of Core Performing Brands: Key brands such as The North Face and Timberland have consistently demonstrated strong performance and are expected to continue contributing positively to revenue growth. The North Face and Timberland both reported 4% revenue growth in Q2 2025.
Strategic Investments in Product Design, Brand Building, and Emerging Brands: VF Corporation is emphasizing new capabilities in product design, innovation, and brand building across its portfolio. This also includes nurturing the growth of emerging brands like Altra, which saw a 35% increase in revenue in Q2 2025, and Supreme, which delivered low double-digit sales growth.
Expansion and Enhanced Performance in International Markets: The company views its international business as more resilient, with a particular focus on growth in the APAC region. The North Face, for example, demonstrated strong performance in APAC, with Greater China growing almost 30%.

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Share Repurchases

VF Corporation repurchased 36,028,885 shares for $2,513 million under an equity buyback plan announced in March 2017, with these repurchases completed by June 29, 2024.
The company did not purchase shares in open market transactions under its share repurchase program during the three months ended June 2024.
Management indicates that future excess capital is anticipated to be primarily used for debt reduction rather than significant share repurchases.

Outbound Investments

VF Corporation acquired the global streetwear brand Supreme for $2.1 billion in November 2020.
The company subsequently sold the Supreme brand to EssilorLuxottica for $1.5 billion in July 2024, with the proceeds primarily directed towards reducing debt.
In September 2025, VF agreed to sell its Dickies brand for $600 million in cash, with the transaction expected to close by year-end 2025, aiming to reduce debt and provide capacity for further investment.

Capital Expenditures

VF's capital expenditures averaged $163.6 million annually for fiscal years ending April 2021 to 2025.
Capital expenditures peaked at $245.4 million in April 2022 and reached a 5-year low of $86.274 million in March 2025.
The company's capital allocation priorities include continued reinvestment, focusing on building scalable capabilities such as elevated design, modern marketing, global commercial platforms, integrated business planning, AI, and talent development.

Interactive Breakdown

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Better Bets vs. VF (VFC)

INDUSTRY: Apparel, Accessories & Luxury Goods

Higher Rev Chg 3Y Avg | Lower P/S (Values for VFC: -6.2% | 0.9x)

PVH (-0.5% | 0.4x)

PVH

UA (-5.0% | 0.7x)

Under Armour

CRI (-5.5% | 0.6x)

Carter's

GIII (-1.0% | 0.4x)

G-III Apparel

GOOS (8.4% | 0.8x)

Canada Goose

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for VFC: -6.2% | 16.2x)

LULU (14.2% | 9.1x)

Lululemon Athletica

GIL (0.7% | 14.7x)

Gildan Activewear

LEVI (0.7% | 12.8x)

Levi Strauss

KTB (3.3% | 12.9x)

Kontoor Brands

COLM (0.1% | 13.7x)

Columbia Sportswear

Higher Rev Chg LTM (Value for VFC: -0.3%)

RL (12.7%)

Ralph Lauren

TPR (10.9%)

Tapestry

LULU (8.8%)

Lululemon Athletica

LEVI (4.1%)

Levi Strauss

GIL (4.0%)

Gildan Activewear

Higher Rev Chg 3Y Avg (Value for VFC: -6.2%)

LULU (14.2%)

Lululemon Athletica

RL (6.9%)

Ralph Lauren

TPR (4.5%)

Tapestry

GIL (0.7%)

Gildan Activewear

NKE (-1.7%)

Nike

Higher Op Mgn LTM (Value for VFC: 5.3%)

LULU (22.0%)

Lululemon Athletica

GIL (21.7%)

Gildan Activewear

TPR (20.9%)

Tapestry

RL (16.0%)

Ralph Lauren

NKE (6.5%)

Nike

Higher CFO/Rev LTM (Value for VFC: 4.9%)

TPR (23.8%)

Tapestry

LULU (16.8%)

Lululemon Athletica

RL (14.4%)

Ralph Lauren

LEVI (8.4%)

Levi Strauss

NKE (6.6%)

Nike

Higher FCF/Rev LTM (Value for VFC: 3.2%)

TPR (21.9%)

Tapestry

LULU (10.2%)

Lululemon Athletica

RL (8.9%)

Ralph Lauren

NKE (5.3%)

Nike

LEVI (4.9%)

Levi Strauss

Higher Total Yield (Value for VFC: 4.4%)

LEVI (8.8%)

Levi Strauss

LULU (7.8%)

Lululemon Athletica

KTB (6.4%)

Kontoor Brands

GIL (5.1%)

Gildan Activewear

RL (4.8%)

Ralph Lauren

SECTOR: Consumer Discretionary

Higher Rev Chg 3Y Avg | Lower P/S (Values for VFC: -6.2% | 0.9x)

GM (5.8% | 0.4x)

General Motors

F (5.9% | 0.3x)

Ford Motor

LEN (0.6% | 0.9x)

Lennar

MGA (4.0% | 0.4x)

Magna International

APTV (5.5% | 0.8x)

Aptiv

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for VFC: -6.2% | 16.2x)

LOW (-4.2% | 15.3x)

Lowe's Companies

BKNG (17.8% | 14.7x)

Booking

DHI (0.1% | 11.6x)

D.R. Horton

CCL (33.2% | 9.4x)

Carnival

LVS (58.8% | 12.7x)

Las Vegas Sands

Higher Rev Chg LTM (Value for VFC: -0.3%)

AMZN (12.4%)

Amazon.com

HD (7.5%)

Home Depot

TJX (4.5%)

TJX Companies

MCD (1.2%)

McDonald's

LOW (0.6%)

Lowe's Companies

Higher Rev Chg 3Y Avg (Value for VFC: -6.2%)

AMZN (11.7%)

Amazon.com

TJX (6.2%)

TJX Companies

TSLA (5.6%)

Tesla

MCD (4.2%)

McDonald's

HD (1.9%)

Home Depot

Higher Op Mgn LTM (Value for VFC: 5.3%)

MCD (46.1%)

McDonald's

HD (13.0%)

Home Depot

LOW (12.2%)

Lowe's Companies

TJX (11.3%)

TJX Companies

AMZN (11.2%)

Amazon.com

Higher CFO/Rev LTM (Value for VFC: 4.9%)

MCD (39.9%)

McDonald's

AMZN (19.5%)

Amazon.com

TSLA (15.6%)

Tesla

TJX (10.9%)

TJX Companies

HD (10.6%)

Home Depot

Higher FCF/Rev LTM (Value for VFC: 3.2%)

MCD (28.1%)

McDonald's

HD (8.4%)

Home Depot

LOW (8.4%)

Lowe's Companies

TJX (7.5%)

TJX Companies

TSLA (6.6%)

Tesla

Higher Total Yield (Value for VFC: 4.4%)

HD (6.2%)

Home Depot

LOW (6.0%)

Lowe's Companies

MCD (5.7%)

McDonald's

RCL (5.4%)

Royal Caribbean

BKNG (4.8%)

Booking

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for VFC: -6.2% | 0.9x)

UNH (11.4% | 0.6x)

UnitedHealth

MCK (13.3% | 0.3x)

McKesson

CVS (7.7% | 0.2x)

CVS Health

DELL (0.2% | 0.8x)

Dell Technologies

ELV (8.4% | 0.4x)

Elevance Health

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for VFC: -6.2% | 16.2x)

MRK (2.9% | 13.6x)

Merck

UNH (11.4% | 10.0x)

UnitedHealth

TMUS (3.6% | 12.9x)

T-Mobile US

VZ (0.3% | 7.1x)

Verizon Communications

T (1.3% | 7.9x)

AT&T

Higher Rev Chg LTM (Value for VFC: -0.3%)

NVDA (65.2%)

NVIDIA

META (22.2%)

Meta Platforms

MSFT (16.7%)

Microsoft

GOOGL (15.1%)

Alphabet

AAPL (10.1%)

Apple

Higher Rev Chg 3Y Avg (Value for VFC: -6.2%)

NVDA (91.6%)

NVIDIA

META (19.9%)

Meta Platforms

MSFT (14.4%)

Microsoft

GOOGL (12.5%)

Alphabet

AAPL (4.1%)

Apple

Higher Op Mgn LTM (Value for VFC: 5.3%)

NVDA (58.8%)

NVIDIA

MSFT (46.7%)

Microsoft

META (41.4%)

Meta Platforms

AAPL (32.4%)

Apple

GOOGL (32.0%)

Alphabet

Higher CFO/Rev LTM (Value for VFC: 4.9%)

META (57.6%)

Meta Platforms

MSFT (52.5%)

Microsoft

NVDA (44.4%)

NVIDIA

GOOGL (40.9%)

Alphabet

AAPL (31.1%)

Apple

Higher FCF/Rev LTM (Value for VFC: 3.2%)

NVDA (41.3%)

NVIDIA

AAPL (28.3%)

Apple

MSFT (25.3%)

Microsoft

META (22.9%)

Meta Platforms

GOOGL (18.2%)

Alphabet

Higher Total Yield (Value for VFC: 4.4%)

XOM (7.5%)

Exxon Mobil

JNJ (6.7%)

Johnson & Johnson

JPM (6.7%)

JPMorgan Chase

BRK-B (6.3%)

Berkshire Hathaway

MSFT (4.9%)

Microsoft

Best Bets in Consumer Discretionary

What You Pay

P/EBIT (Value for VFC: 14.8x)

ABNB (30.4x)

Airbnb

BKNG (15.7x)

Booking

DUOL (49.0x)

Duolingo

ADT (5.1x)

ADT

ETSY (12.5x)

Etsy

LOPE (13.7x)

Grand Canyon Education

PRDO (9.8x)

Perdoceo Education

DECK (12.7x)

Deckers Outdoor

GRMN (26.9x)

Garmin

EXPE (13.2x)

Expedia

P/E (Value for VFC: 37.1x)

ABNB (30.8x)

Airbnb

BKNG (26.2x)

Booking

DUOL (13.4x)

Duolingo

ADT (10.1x)

ADT

ETSY (28.5x)

Etsy

LOPE (20.7x)

Grand Canyon Education

PRDO (13.6x)

Perdoceo Education

DECK (16.4x)

Deckers Outdoor

GRMN (30.5x)

Garmin

EXPE (19.3x)

Expedia

What You Get

Rev Chg 3Y Avg (Value for VFC: -6.2%)

ABNB (13.4%)

Airbnb

BKNG (17.8%)

Booking

DUOL (41.7%)

Duolingo

ADT (3.4%)

ADT

ETSY (4.9%)

Etsy

LOPE (6.5%)

Grand Canyon Education

PRDO (7.1%)

Perdoceo Education

DECK (14.7%)

Deckers Outdoor

GRMN (12.2%)

Garmin

EXPE (8.1%)

Expedia

Rev Chg LTM (Value for VFC: -0.3%)

ABNB (10.3%)

Airbnb

BKNG (13.0%)

Booking

DUOL (39.9%)

Duolingo

ADT (6.3%)

ADT

ETSY (2.0%)

Etsy

LOPE (7.0%)

Grand Canyon Education

PRDO (24.2%)

Perdoceo Education

DECK (9.2%)

Deckers Outdoor

GRMN (16.6%)

Garmin

EXPE (7.6%)

Expedia

Rev Chg Q (Value for VFC: 1.5%)

ABNB (12.0%)

Airbnb

BKNG (12.7%)

Booking

DUOL (41.1%)

Duolingo

ADT (4.4%)

ADT

ETSY (2.4%)

Etsy

LOPE (9.6%)

Grand Canyon Education

PRDO (24.8%)

Perdoceo Education

DECK (7.1%)

Deckers Outdoor

GRMN (11.7%)

Garmin

EXPE (11.4%)

Expedia

FCF/Rev 3Y Avg (Value for VFC: 6.1%)

ABNB (39.2%)

Airbnb

BKNG (35.6%)

Booking

DUOL (30.3%)

Duolingo

ADT (24.7%)

ADT

ETSY (23.8%)

Etsy

LOPE (21.8%)

Grand Canyon Education

PRDO (21.7%)

Perdoceo Education

DECK (20.8%)

Deckers Outdoor

GRMN (20.5%)

Garmin

EXPE (17.5%)

Expedia

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 14%, alpha of 2.9%, and sharpe of 0.61

Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	VF Earnings Notes	12/26/2025
2	VF Stock Drop Looks Sharp, But How Deep Can It Go?	10/17/2025
3	As VFC Surges 11% in a Week, UNH's Story Stands Out	08/18/2025
4	After VFC's 11% Climb in a Week, GM Looks Like the Stronger Long-Term Play	08/18/2025
5	With VFC Up 11% in a Week, Is It Time to Compare It Against KTB?	08/18/2025
6	Where Does VF Stock Rank Among Competitors?	08/13/2025
7	Better Bet Than VFC Stock: Pay Less Than VF To Get More From MRK, EIX	08/12/2025
8	VFC Dip Buy Analysis	07/10/2025
9	VF (VFC) Stock: 32% of days in last 3 months had 1% or greater fluctuation	05/23/2025
10	ARTICLES
11	Down 78% From Its Pre-Inflation Shock High, With The S&P Up 13%, What Is Next For VF Corp Stock?	12/27/2023
12	Can VF Corp Stock Rebound After Falling 14% Over Last Week?	02/13/2023
13	Here’s Why VF Corporation Stock Could Gain Only 10% Post Covid-19 Crisis	05/29/2020
14	Key Takeaways from VFC’s Q4 Results	02/20/2018
15	International Sales and Digital Platform To Drive VFC’s Q4 Earnings	02/15/2018

	Title
0	DASHBOARDS
1	VF Earnings Notes
2	VF Stock Drop Looks Sharp, But How Deep Can It Go?
3	As VFC Surges 11% in a Week, UNH's Story Stands Out
4	After VFC's 11% Climb in a Week, GM Looks Like the Stronger Long-Term Play
5	With VFC Up 11% in a Week, Is It Time to Compare It Against KTB?
6	Where Does VF Stock Rank Among Competitors?
7	Better Bet Than VFC Stock: Pay Less Than VF To Get More From MRK, EIX
8	VFC Dip Buy Analysis
9	VF (VFC) Stock: 32% of days in last 3 months had 1% or greater fluctuation
10	ARTICLES
11	Down 78% From Its Pre-Inflation Shock High, With The S&P Up 13%, What Is Next For VF Corp Stock?
12	Can VF Corp Stock Rebound After Falling 14% Over Last Week?
13	Here’s Why VF Corporation Stock Could Gain Only 10% Post Covid-19 Crisis
14	Key Takeaways from VFC’s Q4 Results
15	International Sales and Digital Platform To Drive VFC’s Q4 Earnings

Trade Ideas

Select ideas related to VFC.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
LULU_1302026_Dip_Buyer_FCFYield	01302026	LULU	Lululemon Athletica	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	1.1%	1.1%	-2.8%
KSS_1302026_Short_Squeeze	01302026	KSS	Kohl's	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	13.6%	13.6%	-1.0%
AAP_1022026_Short_Squeeze	01022026	AAP	Advance Auto Parts	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	51.3%	51.3%	-0.4%
KTB_12192025_Dip_Buyer_FCFYield	12192025	KTB	Kontoor Brands	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	5.2%	5.2%	-10.3%
COUR_12192025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	12192025	COUR	Coursera	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	-21.8%	-21.8%	-24.2%
VFC_3312020_Dip_Buyer_ValueBuy	03312020	VFC	VF	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	30.6%	51.6%	-10.0%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
RNG	RingCentral	3.6	34.4%	36.8%
TNDM	Tandem Diabetes Care	1.7	32.7%	11.8%
AXTI	AXT	1.3	24.7%	81.5%
ASIC	Ategrity Specialty Insurance	1.0	23.6%	3.0%
KOS	Kosmos Energy	1.0	22.0%	138.0%
RYI	Ryerson	0.9	17.0%	11.2%
LGN	Legence	3.2	16.8%	28.3%
SYRE	Spyre Therapeutics	2.6	14.3%	31.9%
FSM	Fortuna Mining	3.8	12.6%	25.1%
FIVN	Five9	1.5	12.5%	-3.6%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
GRAL	GRAIL	1.8	-50.5%	-41.3%
CCOI	Cogent Communications	0.9	-29.4%	-13.8%
FROG	JFrog	4.4	-24.9%	-39.6%
DNOW	Dnow	1.4	-19.1%	-0.2%
CC	Chemours	2.6	-16.5%	44.5%
MTUS	Metallus	0.7	-16.0%	2.4%
HRMY	Harmony Biosciences	1.7	-15.2%	-22.1%
ARDX	Ardelyx	1.4	-15.0%	-1.7%
PLSE	Pulse Biosciences	1.4	-14.6%	56.0%
MATV	Mativ	0.6	-14.1%	-6.1%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
CDNL	Cardinal Infrastructure	1.3	40.7%	41.9%
RNG	RingCentral	3.6	39.1%	36.8%
RELY	Remitly Global	3.6	34.1%	24.3%
KOS	Kosmos Energy	1.0	33.3%	138.0%
TALK	Talkspace	0.8	32.0%	37.5%
MASI	Masimo	9.5	31.7%	34.6%
TNDM	Tandem Diabetes Care	1.7	31.5%	11.8%
IBRX	ImmunityBio	8.2	31.4%	339.4%
AG	First Majestic Silver	13.5	27.6%	65.4%
TPH	Tri Pointe Homes	4.0	26.6%	47.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
GRAL	GRAIL	1.8	-47.6%	-41.3%
ALIT	Alight	0.4	-43.7%	-61.3%
UPB	Upstream Bio	0.4	-36.9%	-70.2%
CCOI	Cogent Communications	0.9	-29.3%	-13.8%
FROG	JFrog	4.4	-29.2%	-39.6%
GETY	Getty Images	0.3	-28.1%	-44.8%
BTDR	Bitdeer Technologies	1.6	-25.0%	-30.6%
SXC	SunCoke Energy	0.5	-23.7%	-12.3%
MATV	Mativ	0.6	-21.4%	-6.1%
GPC	Genuine Parts	16.4	-20.0%	-4.0%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
FSLY	Fastly	2.7	102.7%	77.6%
NKTR	Nektar Therapeutics	1.4	99.7%	74.4%
LITE	Lumentum	46.9	84.2%	81.2%
VAL	Valaris	6.8	74.4%	90.0%
KOS	Kosmos Energy	1.0	67.4%	138.0%
MOD	Modine Manufacturing	11.9	57.5%	69.5%
IPGP	IPG Photonics	5.6	56.4%	86.6%
RNG	RingCentral	3.6	52.5%	36.8%
ICHR	Ichor	1.7	51.3%	173.2%
EVMN	Evommune	0.9	50.2%	65.4%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
UPB	Upstream Bio	0.4	-74.4%	-70.2%
FIGR	Figure Technology Solutions	3.0	-57.6%	-28.7%
U	Unity Software	7.7	-56.5%	-58.7%
FUBO	FuboTV	0.4	-51.9%	-50.8%
ALIT	Alight	0.4	-51.7%	-61.3%
NSP	Insperity	0.9	-50.5%	-39.8%
GRAL	GRAIL	1.8	-50.3%	-41.3%
KD	Kyndryl	2.9	-49.1%	-52.9%
RPD	Rapid7	0.4	-47.7%	-56.8%
HIMS	Hims & Hers Health	3.5	-45.9%	-51.9%

Peer Comparisons

Peers to compare with:

Financials

	VFC	NKE	DECK	LULU	COLM	LEVI	Median
Name	VF	Nike	Deckers .	Lululemo.	Columbia.	Levi Str.
Mkt Price	21.23	65.40	118.69	187.30	64.23	22.88	64.81
Mkt Cap	8.3	96.8	17.1	22.2	3.5	9.0	13.0
Rev LTM	9,583	46,513	5,375	11,073	3,424	6,282	7,932
Op Inc LTM	511	3,042	1,280	2,440	257	702	991
FCF LTM	310	2,475	929	1,128	169	308	620
FCF 3Y Avg	603	4,767	985	1,343	307	367	794
CFO LTM	467	3,056	1,013	1,861	234	530	771
CFO 3Y Avg	765	5,470	1,074	2,025	366	621	920

Growth & Margins

	VFC	NKE	DECK	LULU	COLM	LEVI	Median
Name	VF	Nike	Deckers .	Lululemo.	Columbia.	Levi Str.
Rev Chg LTM	-0.3%	-5.0%	9.2%	8.8%	2.8%	4.1%	3.4%
Rev Chg 3Y Avg	-6.2%	-1.7%	14.7%	14.2%	0.1%	0.7%	0.4%
Rev Chg Q	1.5%	0.6%	7.1%	7.1%	1.3%	0.9%	1.4%
QoQ Delta Rev Chg LTM	0.4%	0.2%	2.5%	1.6%	0.3%	0.3%	0.4%
Op Mgn LTM	5.3%	6.5%	23.8%	22.0%	7.5%	11.2%	9.3%
Op Mgn 3Y Avg	4.8%	9.8%	22.9%	22.4%	8.8%	9.5%	9.6%
QoQ Delta Op Mgn LTM	0.4%	-0.8%	0.3%	-0.8%	-0.5%	-0.2%	-0.3%
CFO/Rev LTM	4.9%	6.6%	18.8%	16.8%	6.8%	8.4%	7.6%
CFO/Rev 3Y Avg	7.8%	11.0%	22.7%	20.1%	10.7%	10.3%	10.9%
FCF/Rev LTM	3.2%	5.3%	17.3%	10.2%	5.0%	4.9%	5.1%
FCF/Rev 3Y Avg	6.1%	9.6%	20.8%	13.4%	9.0%	6.0%	9.3%

Valuation

	VFC	NKE	DECK	LULU	COLM	LEVI	Median
Name	VF	Nike	Deckers .	Lululemo.	Columbia.	Levi Str.
Mkt Cap	8.3	96.8	17.1	22.2	3.5	9.0	13.0
P/S	0.9	2.1	3.2	2.0	1.0	1.4	1.7
P/EBIT	14.8	31.8	12.7	9.1	13.7	13.2	13.4
P/E	37.1	38.3	16.4	12.8	18.8	15.5	17.6
P/CFO	17.8	31.7	16.9	11.9	15.0	17.0	16.9
Total Yield	4.4%	2.6%	6.1%	7.8%	7.2%	8.8%	6.7%
Dividend Yield	1.7%	0.0%	0.0%	0.0%	1.9%	2.4%	0.8%
FCF Yield 3Y Avg	8.1%	3.8%	5.1%	3.3%	7.0%	5.1%	5.1%
D/E	0.6	0.1	0.0	0.1	0.1	0.3	0.1
Net D/E	0.5	0.0	-0.1	0.0	0.1	0.2	0.1

Returns

	VFC	NKE	DECK	LULU	COLM	LEVI	Median
Name	VF	Nike	Deckers .	Lululemo.	Columbia.	Levi Str.
1M Rtn	7.5%	0.6%	18.7%	-2.0%	21.4%	8.4%	8.0%
3M Rtn	31.6%	4.8%	39.4%	11.4%	20.4%	10.9%	15.9%
6M Rtn	56.7%	-15.6%	8.8%	-9.8%	14.3%	8.8%	8.8%
12M Rtn	-14.9%	-12.5%	-19.0%	-47.8%	-27.8%	28.0%	-17.0%
3Y Rtn	-5.3%	-42.5%	76.3%	-41.1%	-23.2%	40.4%	-14.3%
1M Excs Rtn	8.3%	-0.5%	15.9%	-1.8%	19.5%	5.0%	6.6%
3M Excs Rtn	42.1%	0.9%	37.3%	9.8%	21.1%	8.8%	15.5%
6M Excs Rtn	59.0%	-21.3%	6.0%	-13.5%	12.3%	3.4%	4.7%
12M Excs Rtn	-30.6%	-25.3%	-34.7%	-61.5%	-39.8%	16.7%	-32.6%
3Y Excs Rtn	-82.7%	-112.4%	1.2%	-108.5%	-92.8%	-27.2%	-87.7%

Comparison Analyses

	Title
0	Where Does VF Stock Rank Among Competitors?
1	VF Corporation vs. Columbia Sportswear Company: With Return Forecast Of 30%, Columbia Sportswear Company Is A Better Bet
2	VFC Looks Stronger Than TPR With 4.4% Return Potential
3	VFC or NKE - With 17% Return Forecast, NKE Probably Deserves Your Money
4	With 32% Gains On The Table, LULU May Outshine VFC
5	DECK Could Deliver 63% Returns And Outperform VFC
6	VF Corporation vs. Intuit: Similar Revenue, But Intuit Is A Better Bet
7	VF Corporation vs. CSX: Similar Revenue, But VF Corporation Is A Better Bet
8	VF Corporation vs. Norfolk Southern: Similar Revenue, But VF Corporation Is A Better Bet
9	VF Corporation vs. West Pharmaceutical Services: Similar Market Cap, But VF Corporation Is A Better Bet

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 3/31	LTM	2025	2024	2023	2022	2021	2020
Period End	12/31/2025	3/31/2025	3/31/2024	3/31/2023	3/31/2022	3/31/2021	3/28/2020
Filing Date	1/28/2026	5/22/2025	5/23/2024	5/25/2023	5/26/2022	5/27/2021	5/27/2020
Key Financials
Total Revenue	9,583	9,505	9,916	11,089	11,842	9,239	10,489
EBITDA	847	579	209	1,142	1,927	861	1,087
Operating Income	511	393	364	999	1,632	628	1,251
Net Income	223	-190	-969	119	1,387	408	679
EPS	0.57	-0.49	-2.49	0.31	3.55	1.05	1.72
Growth Rates
Total Revenue Growth	-0.3%	-4.1%	-10.6%	-6.4%	28.2%	-11.9%	2.2%
EBITDA Growth	180.3%	177.6%	-81.7%	-40.7%	123.7%	-20.8%	-22.5%
Operating Income Growth	67.7%	8.1%	-63.6%	-38.8%	159.9%	-49.8%	5.1%
Net Income Growth	148.9%	80.4%	-917.0%	-91.4%	240.0%	-40.0%	-46.1%
Margins
EBITDA Margin	8.8%	6.1%	2.1%	10.3%	16.3%	9.3%	10.4%
Operating Income Margin	5.3%	4.1%	3.7%	9.0%	13.8%	6.8%	11.9%
Net Income Margin	2.3%	-2.0%	-9.8%	1.1%	11.7%	4.4%	6.5%
Cash & Debt
Total Cash	1,466	429	656	815	1,276	1,415	1,369
Total Debt	5,339	5,366	7,349	8,151	6,798	7,362	5,211
Net Debt / (Cash)	3,872	4,937	6,693	7,336	5,523	5,947	3,842
Cash Flows
Net Cash from Operations	467	465	1,015	-656	864	1,313	875
Free Cash from Operations	310	339	817	-901	536	1,039	541
Returns to Shareholders
Dividends	141	140	303	703	773	757	749
Share Repurchases	5	3	3	3	350	-0	1,000

$ Mil \| FY: 3/31	2026Q3	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4
Period End	12/31/2025	9/27/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023
Filing Date	1/28/2026	10/28/2025	7/30/2025	5/22/2025	1/29/2025	10/30/2024	8/7/2024	5/23/2024	2/7/2024	11/3/2023	8/3/2023	5/25/2023
Key Financials Quarterly
Total Revenue	2,876	2,803	1,761	2,144	2,834	2,758	1,769	2,247	2,780	2,920	2,086	2,216
Ebitda	481	388	-19	-3	300	339	-56	-280	27	423	60	510
Operating Income	320	313	-87	-35	277	274	-123	-123	166	351	-9	88
Net Income	301	190	-116	-151	168	52	-259	-418	-42	-451	-57	-215
EPS	0.77	0.49	-0.30	-0.39	0.43	0.13	-0.67	-1.08	-0.11	-1.16	-0.15	-0.55
Key Financials TTM
Total Revenue TTM	9,583	9,541	9,496	9,505	9,608	9,554	9,717	10,034	10,003	10,754	10,914	11,089
Ebitda TTM	847	666	617	579	302	29	113	230	1,020	1,845	1,387	1,363
Operating Income TTM	511	468	429	393	305	194	270	384	596	946	926	999
Net Income TTM	223	90	-47	-190	-457	-667	-1,170	-969	-765	-215	117	119
Growth Rates Quarterly
Total Revenue Growth	1.5%	1.6%	-0.5%	-4.6%	1.9%	-5.6%	-15.2%	1.4%	-21.3%	-5.2%	-7.7%	-21.5%
EBITDA Growth	60.5%	14.5%	67.1%	98.8%	1005.8%	-19.9%	-194.1%	-155.0%	-96.8%	1294.0%	63.6%	88.7%
Operating Income Growth	15.5%	14.1%	29.6%	71.8%	66.9%	-21.9%	-1268.1%	-239.3%	-67.9%	5.9%	-114.2%	-54.1%
Net Income Growth	79.3%	263.7%	55.0%	64.0%	495.2%	111.6%	-350.8%	-94.7%	-108.4%	-280.6%	-2.6%	-365.8%
Margins Quarterly
EBITDA Margin	16.7%	13.8%	-1.1%	-0.2%	10.6%	12.3%	-3.2%	-12.5%	1.0%	14.5%	2.9%	23.0%
Operating Income Margin	11.1%	11.2%	-4.9%	-1.6%	9.8%	9.9%	-7.0%	-5.5%	6.0%	12.0%	-0.4%	4.0%
Net Income Margin	10.5%	6.8%	-6.6%	-7.0%	5.9%	1.9%	-14.6%	-18.6%	-1.5%	-15.4%	-2.8%	-9.7%
Cash & Debt
Total Cash	1,466	419	642	429	1,369	492	637	656	988	499	807	815
Total Debt	5,339	5,791	5,675	5,366	5,751	7,378	7,121	7,349	7,342	7,803	7,866	8,151
Net Debt / (Cash)	3,872	5,372	5,033	4,937	4,382	6,886	6,484	6,693	6,354	7,304	7,059	7,336
Cash Flows Quarterly
FCF from Operations	1,010	-227	-145	-171	918	-302	20	-91	1,125	-183	164	178
Cash Flows TTM
FCF from Operations TTM	467	375	300	465	545	752	871	1,015	1,283	239	-134	-656
Returns to Shareholders Quarterly
Dividends	35	35	35	35	35	35	35	35	35	117	117	117
Share Repurchases	1	0	5	0	-0	1	2	0	0	1	2	0
Return on Invested Capital (ROIC) Quarterly
ROIC	16.4%	11.1%	-4.2%	-1.8%	13.4%	10.2%	-5.0%	-5.3%	6.1%	14.0%	-0.3%	3.1%
Return on Invested Capital (ROIC) TTM
ROIC TTM	4.6%	2.4%	3.2%	2.5%	4.3%	2.0%	3.0%	4.1%	6.6%	3.4%	9.4%	9.8%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Outdoor	5,501	5,648	5,328	4,128	4,644
Active	3,523	4,905	5,380	4,161	4,919
Work	892	1,060	1,133	946	886
All Other revenues		0	1	5	39
Total	9,916	11,612	11,842	9,239	10,489

Assets by Segment

$ Mil	2025	2024	2023	2022	2021
Goodwill and intangible assets, net	2,422	4,621	5,394	5,455	3,011
Assets of discontinued operations	1,826			588	611
Other assets	1,704	2,337	1,497	1,487	1,313
Outdoor	1,544	1,936	1,307	1,019	1,182
Operating lease right-of-use assets	1,255	1,372	1,247	1,474	1,274
Active	956	1,341	1,111	1,025	1,013
Property, plant and equipment, net	789	942	1,042	976	954
Cash and equivalents	656	815	1,276	816	1,369
Work	452	611		301	376
All Other revenues	9	15	32	14	31
Jeans			437
Short-term investments				599
Total	11,613	13,990	13,342	13,754	11,133

Price Behavior

Price Behavior

Market Price	$21.23
Market Cap ($ Bil)	8.3
First Trading Date	07/01/1985
Distance from 52W High	-14.9%
	50 Days	200 Days
DMA Price	$19.55	$15.21
DMA Trend	up	up
Distance from DMA	8.6%	39.6%
	3M	1YR
Volatility	43.0%	70.2%
Downside Capture	151.61	262.46
Upside Capture	270.41	208.84
Correlation (SPY)	47.4%	67.2%

VFC Betas & Captures as of 1/31/2026

	1M	2M	3M	6M	1Y	3Y
Beta	1.70	1.96	1.90	1.93	2.46	1.83
Up Beta	4.87	3.50	1.55	2.86	2.56	2.07
Down Beta	0.45	0.69	0.69	1.29	2.37	1.91
Up Capture	261%	291%	446%	319%	394%	281%
Bmk +ve Days	11	22	34	71	142	430
Stock +ve Days	9	18	31	62	120	367
Down Capture	132%	212%	162%	133%	159%	111%
Bmk -ve Days	9	19	27	54	109	321
Stock -ve Days	11	23	30	63	131	382

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with VFC
VFC	-18.2%	69.9%	0.01	-
Sector ETF (XLY)	4.5%	24.2%	0.13	70.9%
Equity (SPY)	13.5%	19.4%	0.53	67.2%
Gold (GLD)	74.5%	25.6%	2.15	1.2%
Commodities (DBC)	7.2%	16.9%	0.25	26.2%
Real Estate (VNQ)	7.1%	16.7%	0.24	57.3%
Bitcoin (BTCUSD)	-29.7%	44.9%	-0.65	27.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with VFC
VFC	-20.6%	52.9%	-0.24	-
Sector ETF (XLY)	7.5%	23.7%	0.28	47.3%
Equity (SPY)	13.4%	17.0%	0.62	47.6%
Gold (GLD)	22.6%	17.1%	1.08	6.6%
Commodities (DBC)	10.9%	19.0%	0.46	11.6%
Real Estate (VNQ)	5.0%	18.8%	0.17	44.4%
Bitcoin (BTCUSD)	7.4%	57.1%	0.35	17.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with VFC
VFC	-6.1%	44.4%	0.02	-
Sector ETF (XLY)	14.3%	21.9%	0.60	53.5%
Equity (SPY)	16.1%	17.9%	0.77	53.1%
Gold (GLD)	14.8%	15.6%	0.79	1.6%
Commodities (DBC)	8.6%	17.6%	0.40	17.5%
Real Estate (VNQ)	7.0%	20.7%	0.30	47.5%
Bitcoin (BTCUSD)	68.0%	66.7%	1.07	12.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	1302026
Short Interest: Shares Quantity	22.9 Mil
Short Interest: % Change Since 1152026	4.6%
Average Daily Volume	9.2 Mil
Days-to-Cover Short Interest	2.5 days
Basic Shares Quantity	390.9 Mil
Short % of Basic Shares	5.9%

Returns Analyses

	Title
0	VF Stock Drop Looks Sharp, But How Deep Can It Go?
1	VF During 2008 Recession vs. 2022 Inflation Shock: VFC Stock Has 311% Upside If It Recovers To Pre-Inflation Shock Levels
2	VF Corporation (VFC) Stock Has 57% Chance Of Rise In The Next One Month
3	VF Stock Return Comparison
4	[10/12/2021] V F (VFC) Stock Price Forecast: AI Forecasts VFC Stock Price To Be Around $72.70 In A Month (Up 0.6%)
5	VF Total Shareholder Return (TSR): -50.2% in 2023 and -20.6% 3-yr returns (below peer average)

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
1/28/2026	-5.8%
10/28/2025	-12.2%	-14.7%	3.8%
7/30/2025	2.6%	-2.8%	20.5%
5/21/2025	-15.8%	-8.7%	-18.3%
1/29/2025	-3.9%	-5.4%	-7.5%
10/28/2024	27.0%	26.1%	20.0%
8/6/2024	7.1%	8.3%	8.5%
5/22/2024	-2.9%	0.0%	20.1%
...
SUMMARY STATS
# Positive	4	6	11
# Negative	21	18	13
Median Positive	6.6%	5.8%	8.5%
Median Negative	-5.1%	-5.4%	-7.5%
Max Positive	27.0%	26.1%	21.7%
Max Negative	-15.8%	-14.7%	-18.3%

	Forward Returns
1/28/2026	-5.8%
10/28/2025	-12.2%	-14.7%	3.8%
7/30/2025	2.6%	-2.8%	20.5%
5/21/2025	-15.8%	-8.7%	-18.3%
1/29/2025	-3.9%	-5.4%	-7.5%
10/28/2024	27.0%	26.1%	20.0%
8/6/2024	7.1%	8.3%	8.5%
5/22/2024	-2.9%	0.0%	20.1%
2/6/2024	-9.7%	-3.0%	-5.1%
10/30/2023	-14.0%	-6.8%	0.1%
8/1/2023	-1.8%	1.0%	-0.1%
5/23/2023	-3.3%	-9.2%	-2.4%
2/7/2023	-0.3%	-3.2%	-18.3%
10/26/2022	-2.8%	-2.5%	21.7%
7/28/2022	-8.0%	-7.0%	-15.3%
5/19/2022	6.1%	9.5%	5.0%
1/28/2022	-6.5%	-5.5%	-13.9%
10/22/2021	-4.5%	-1.8%	2.6%
7/30/2021	-5.1%	-4.7%	-9.4%
5/21/2021	-8.9%	-6.2%	-4.4%
1/27/2021	-7.0%	-5.7%	-5.9%
10/16/2020	-2.5%	-4.9%	2.3%
7/31/2020	-0.2%	-0.9%	12.3%
4/21/2020	-4.5%	3.4%	-1.8%
1/23/2020	-9.7%	-11.1%	-11.5%
SUMMARY STATS
# Positive	4	6	11
# Negative	21	18	13
Median Positive	6.6%	5.8%	8.5%
Median Negative	-5.1%	-5.4%	-7.5%
Max Positive	27.0%	26.1%	21.7%
Max Negative	-15.8%	-14.7%	-18.3%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
12/31/2025	01/28/2026	10-Q
09/30/2025	10/28/2025	10-Q
06/30/2025	07/30/2025	10-Q
03/31/2025	05/22/2025	10-K
12/31/2024	01/29/2025	10-Q
09/30/2024	10/30/2024	10-Q
06/30/2024	08/07/2024	10-Q
03/31/2024	05/23/2024	10-K
12/31/2023	02/07/2024	10-Q
09/30/2023	11/03/2023	10-Q
06/30/2023	08/03/2023	10-Q
03/31/2023	05/25/2023	10-K
12/31/2022	02/08/2023	10-Q
09/30/2022	11/02/2022	10-Q
06/30/2022	08/05/2022	10-Q
03/31/2022	05/26/2022	10-K

Insider Activity

Expand for More

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Carucci, Richard		Direct	Buy	5272025	12.05	50,000	602,500	3,377,396	Form
2	Dalmia, Abhishek	EVP, Chief Operating Officer	Direct	Buy	5272025	11.78	50,000	589,000	4,483,636	Form
3	Darrell, Bracken	President & Chief Exec Officer	Direct	Buy	5272025	11.73	85,840	1,006,903	3,465,108	Form
4	Chugg, Juliana L		Shares Are Held Family	Sell	2122026	21.30	6,678	142,241	852	Form

VFC Trade Sentinel

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

null

Diversification Alternatives

Stock Conviction

null

CONVICTION RATIONALE

null

STOCK ARCHETYPE

null

INVESTMENT THESIS

null

Mechanism: null

Supporting Evidence:

PRIMARY RISK

null

Mechanism: null

Supporting Evidence:

Key KPI Watchlist

KPI	Threshold	Rationale

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

VF (VFC)

Market Price (2/23/2026): $21.235 | Market Cap: $8.3 BilSector: Consumer Discretionary | Industry: Apparel, Accessories & Luxury Goods

VF (VFC)

Market Price (2/23/2026): $21.235Market Cap: $8.3 BilSector: Consumer DiscretionaryIndustry: Apparel, Accessories & Luxury Goods

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About VF (VFC)

Share Repurchases

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets vs. VF (VFC)

INDUSTRY: Apparel, Accessories & Luxury Goods

Higher Rev Chg 3Y Avg | Lower P/S (Values for VFC: -6.2% | 0.9x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for VFC: -6.2% | 16.2x)

Higher Rev Chg LTM (Value for VFC: -0.3%)

Higher Rev Chg 3Y Avg (Value for VFC: -6.2%)

Higher Op Mgn LTM (Value for VFC: 5.3%)

Higher CFO/Rev LTM (Value for VFC: 4.9%)

Higher FCF/Rev LTM (Value for VFC: 3.2%)

Higher Total Yield (Value for VFC: 4.4%)

SECTOR: Consumer Discretionary

Higher Rev Chg 3Y Avg | Lower P/S (Values for VFC: -6.2% | 0.9x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for VFC: -6.2% | 16.2x)

Higher Rev Chg LTM (Value for VFC: -0.3%)

Higher Rev Chg 3Y Avg (Value for VFC: -6.2%)

Higher Op Mgn LTM (Value for VFC: 5.3%)

Higher CFO/Rev LTM (Value for VFC: 4.9%)

Higher FCF/Rev LTM (Value for VFC: 3.2%)

Higher Total Yield (Value for VFC: 4.4%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for VFC: -6.2% | 0.9x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for VFC: -6.2% | 16.2x)

Higher Rev Chg LTM (Value for VFC: -0.3%)

Higher Rev Chg 3Y Avg (Value for VFC: -6.2%)

Higher Op Mgn LTM (Value for VFC: 5.3%)

Higher CFO/Rev LTM (Value for VFC: 4.9%)

Higher FCF/Rev LTM (Value for VFC: 3.2%)

Higher Total Yield (Value for VFC: 4.4%)

Best Bets in Consumer Discretionary

P/EBIT (Value for VFC: 14.8x)

P/E (Value for VFC: 37.1x)

Rev Chg 3Y Avg (Value for VFC: -6.2%)

Rev Chg LTM (Value for VFC: -0.3%)

Rev Chg Q (Value for VFC: 1.5%)

FCF/Rev 3Y Avg (Value for VFC: 6.1%)

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Market Price (2/23/2026): $21.235 | Market Cap: $8.3 Bil
Sector: Consumer Discretionary | Industry: Apparel, Accessories & Luxury Goods

Market Price (2/23/2026): $21.235
Market Cap: $8.3 Bil
Sector: Consumer Discretionary
Industry: Apparel, Accessories & Luxury Goods