Levi Strauss (LEVI)


Market Price (11/6/2026): $22.865 | Market Cap: $8.8 BilSector: Consumer Discretionary | Industry: Apparel, Accessories & Luxury Goods

Levi Strauss (LEVI)


Market Price (11/6/2026): $22.865
Market Cap: $8.8 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

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.1%, Dividend Yield is 2.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.4%, FCF Yield is 7.2%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%

Low stock price volatility
Vol 12M is 34%

Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, and Sustainable Consumption. Themes include Direct-to-Consumer Brands, Eco-friendly Products, Show more.

Key risks
LEVI key risks include [1] vulnerability to shifting fashion trends due to its heavy concentration in denim and [2] a significant dependency on the wholesale channel as consumers increasingly shift to direct-to-consumer platforms.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.1%, Dividend Yield is 2.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.4%, FCF Yield is 7.2%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%
2 Low stock price volatility
Vol 12M is 34%
3 Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, and Sustainable Consumption. Themes include Direct-to-Consumer Brands, Eco-friendly Products, Show more.
4 Key risks
LEVI key risks include [1] vulnerability to shifting fashion trends due to its heavy concentration in denim and [2] a significant dependency on the wholesale channel as consumers increasingly shift to direct-to-consumer platforms.

LEVI in ETFs

Weight = LEVI's share of each fund

VTI0.00%
ITOT0.00%
VB0.03%
FNDA0.10%
ESML0.06%
SCHA0.05%
VBR0.04%
DFAS0.04%
+2 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

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Updated on 11/1/2026

Levi Strauss (LEVI) stock has lost about 5% since 7/31/2026 because of the following key factors:

1. Levi Strauss & Co. reported mixed financial results for fiscal Q3 2026, which ended August 30, 2026, including a slight revenue miss and weaker-than-expected direct-to-consumer (DTC) performance. The company's net revenues of $1.61 billion, while increasing 4.3% year-over-year, marginally missed the consensus estimate of $1.62 billion by 0.43%. Additionally, the direct-to-consumer business, particularly in the U.S. and Europe, fell short of internal expectations, contributing to market apprehension despite overall strong growth in international and wholesale segments.

2. The company strategically redeployed a significant portion of its International Emergency Economic Powers Act (IEEPA) tariff refunds, which bolstered fiscal Q3 2026 earnings. Levi Strauss's adjusted diluted EPS of $0.48 for fiscal Q3 2026 significantly beat the $0.36 consensus estimate by 34%, largely due to an approximately $79 million tariff refund benefit. However, the company chose to reinvest a substantial amount of this benefit, allocating approximately $25 million in fiscal Q3 2026 and planning an additional $35 million for fiscal Q4 2026, into marketing, supply chain improvements, and promotions. This reinvestment, while aimed at future growth, led to shares falling 6.4% following the Q3 earnings announcement on October 7, 2026, as investors processed the allocation of the one-time windfall.

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Updated on 11/1/2026

Levi Strauss (LEVI) stock has lost about 5% since 7/31/2026 because of the following key factors:

1. Levi Strauss & Co. reported mixed financial results for fiscal Q3 2026, which ended August 30, 2026, including a slight revenue miss and weaker-than-expected direct-to-consumer (DTC) performance. The company's net revenues of $1.61 billion, while increasing 4.3% year-over-year, marginally missed the consensus estimate of $1.62 billion by 0.43%. Additionally, the direct-to-consumer business, particularly in the U.S. and Europe, fell short of internal expectations, contributing to market apprehension despite overall strong growth in international and wholesale segments.

2. The company strategically redeployed a significant portion of its International Emergency Economic Powers Act (IEEPA) tariff refunds, which bolstered fiscal Q3 2026 earnings. Levi Strauss's adjusted diluted EPS of $0.48 for fiscal Q3 2026 significantly beat the $0.36 consensus estimate by 34%, largely due to an approximately $79 million tariff refund benefit. However, the company chose to reinvest a substantial amount of this benefit, allocating approximately $25 million in fiscal Q3 2026 and planning an additional $35 million for fiscal Q4 2026, into marketing, supply chain improvements, and promotions. This reinvestment, while aimed at future growth, led to shares falling 6.4% following the Q3 earnings announcement on October 7, 2026, as investors processed the allocation of the one-time windfall.

3. Several financial analysts adjusted their price targets downward for Levi Strauss shares following the fiscal Q3 2026 earnings report. For example, Raymond James Financial lowered its target price from $24.00 to $22.00, and Bank of America reduced its target from $27.00 to $25.00. These revisions, despite many analysts maintaining "Buy" or "Outperform" ratings, likely reflected a more cautious outlook on near-term profitability and growth prospects, influenced by the mixed financial results and the strategic reinvestment of tariff refunds.

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Stock Movement Drivers

Fundamental Drivers

The -5.1% change in LEVI stock from 7/31/2026 to 11/5/2026 was primarily driven by a -8.7% change in the company's Net Income Margin (%).
(LTM values as of)731202611052026Change
Stock Price ($)24.3323.10-5.1%
Change Contribution By: 
Total Revenues ($ Mil)6,6146,6801.0%
Net Income Margin (%)9.7%8.8%-8.7%
P/E Multiple14.715.12.9%
Shares Outstanding (Mil)3863860.0%
Cumulative Contribution-5.1%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/5/2026
ReturnCorrelation
LEVI-5.1% 
Market (SPY)-1.9%31.6%
Sector (XLY)1.3%55.3%

Fundamental Drivers

The 5.2% change in LEVI stock from 4/30/2026 to 11/5/2026 was primarily driven by a 9.3% change in the company's P/E Multiple.
(LTM values as of)430202611052026Change
Stock Price ($)21.9623.105.2%
Change Contribution By: 
Total Revenues ($ Mil)6,4986,6802.8%
Net Income Margin (%)9.5%8.8%-7.3%
P/E Multiple13.815.19.3%
Shares Outstanding (Mil)3903861.0%
Cumulative Contribution5.2%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/5/2026
ReturnCorrelation
LEVI5.2% 
Market (SPY)2.3%36.2%
Sector (XLY)-0.4%53.2%

Fundamental Drivers

The 17.0% change in LEVI stock from 10/31/2025 to 11/5/2026 was primarily driven by a 16.7% change in the company's P/E Multiple.
(LTM values as of)1031202511052026Change
Stock Price ($)19.7423.1017.0%
Change Contribution By: 
Total Revenues ($ Mil)6,2666,6806.6%
Net Income Margin (%)9.6%8.8%-8.2%
P/E Multiple13.015.116.7%
Shares Outstanding (Mil)3963862.5%
Cumulative Contribution17.0%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/5/2026
ReturnCorrelation
LEVI17.0% 
Market (SPY)8.4%44.9%
Sector (XLY)-1.4%55.5%

Fundamental Drivers

The 83.7% change in LEVI stock from 10/31/2023 to 11/5/2026 was primarily driven by a 97.9% change in the company's Net Income Margin (%).
(LTM values as of)1031202311052026Change
Stock Price ($)12.5823.1083.7%
Change Contribution By: 
Total Revenues ($ Mil)6,1256,6809.1%
Net Income Margin (%)4.5%8.8%97.9%
P/E Multiple18.315.1-17.4%
Shares Outstanding (Mil)3983863.0%
Cumulative Contribution83.7%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/5/2026
ReturnCorrelation
LEVI83.7% 
Market (SPY)81.3%50.7%
Sector (XLY)58.2%54.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
LEVI Return26%-36%10%8%23%14%34%
Peers Return31%-38%79%18%-8%-14%35%
S&P 500 Return27%-19%24%23%16%12%105%

Monthly Win Rates [3]
LEVI Win Rate42%42%58%58%67%55% 
Peers Win Rate57%35%63%48%53%47% 
S&P 500 Win Rate75%42%67%75%67%45% 

Max Drawdowns [4]
LEVI Max Drawdown-24%-43%-31%-34%-35%-27% 
Peers Max Drawdown-40%-55%-37%-41%-54%-49% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: URBN, ANF, AEO, LAKE, PLCE. See LEVI 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 11/5/2026 (YTD)

How Low Can It Go

EventLEVIS&P 500
2025 US Tariff Shock
  % Loss-31.8%-18.8%
  % Gain to Breakeven46.7%23.1%
  Time to Breakeven49 days79 days
2023 SVB Regional Banking Crisis
  % Loss-27.8%-6.7%
  % Gain to Breakeven38.4%7.1%
  Time to Breakeven265 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-42.0%-24.5%
  % Gain to Breakeven72.4%32.4%
  Time to Breakeven601 days427 days
2020 COVID-19 Crash
  % Loss-50.9%-33.7%
  % Gain to Breakeven103.8%50.9%
  Time to Breakeven235 days140 days

Compare to URBN, ANF, AEO, LAKE, PLCE

In The Past

Levi Strauss's stock fell -31.8% during the 2025 US Tariff Shock. Such a loss loss requires a 46.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventLEVIS&P 500
2025 US Tariff Shock
  % Loss-31.8%-18.8%
  % Gain to Breakeven46.7%23.1%
  Time to Breakeven49 days79 days
2023 SVB Regional Banking Crisis
  % Loss-27.8%-6.7%
  % Gain to Breakeven38.4%7.1%
  Time to Breakeven265 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-42.0%-24.5%
  % Gain to Breakeven72.4%32.4%
  Time to Breakeven601 days427 days
2020 COVID-19 Crash
  % Loss-50.9%-33.7%
  % Gain to Breakeven103.8%50.9%
  Time to Breakeven235 days140 days

Compare to URBN, ANF, AEO, LAKE, PLCE

In The Past

Levi Strauss's stock fell -31.8% during the 2025 US Tariff Shock. Such a loss loss requires a 46.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Levi Strauss (LEVI)

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Levi Strauss & Co. (LEVI) is a global apparel company primarily known for designing, marketing, and selling a wide range of clothing and related accessories. While famous for its iconic Levi's jeans, the company's product portfolio extends significantly beyond denim to include casual and dress pants, activewear, tops, shorts, skirts, dresses, jackets, and footwear. They also license their well-known Levi's and Dockers trademarks for various product categories such as belts, wallets, and kids wear, further expanding their brand presence.

The company manages a multi-brand strategy, selling products under its flagship Levi's brand, as well as Dockers, Signature by Levi Strauss & Co., and Denizen. Levi Strauss reaches its customers through a dual distribution model. They sell directly to consumers via company-operated mainline and outlet stores, their e-commerce sites, and shop-in-shops within department stores. Additionally, the company leverages an extensive network of third-party retailers, including department stores, specialty retailers, and franchisees who operate dedicated brand stores, totaling approximately 3,100 brand-dedicated stores and shop-in-shops globally.

Headquartered in San Francisco and founded in 1853, Levi Strauss serves a broad demographic, designing apparel for men, women, and children. Its market reach is truly global, with significant operations and sales across the Americas, Europe, and Asia. This extensive geographic footprint, combined with diverse product offerings and multiple sales channels, allows Levi Strauss to cater to a wide international consumer base.

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  • The Coca-Cola of jeans.
  • The Nike of denim.

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  • Jeans: The company's iconic denim trousers for men, women, and children.
  • Pants: Includes both casual and dress pants.
  • Tops: A category covering various upper body garments such as shirts, blouses, sweaters, and dress shirts.
  • Shorts, Skirts, and Dresses: Apparel designed as bottom wear or one-piece garments.
  • Activewear and Jackets: Clothing designed for sports or physical exercise, and outerwear.
  • Footwear: Items worn on the feet, such as shoes and boots.
  • Accessories: Complementary items including belts, wallets, bags, sleepwear, and hosiery.

AI Analysis | Feedback

Levi Strauss & Co. (symbol: LEVI) sells primarily to individuals through its extensive network of company-operated mainline and outlet stores, company-operated e-commerce sites, and select shop-in-shops. While it also sells through third-party retailers, its significant direct-to-consumer presence indicates a primary focus on the end consumer.

Its major customer categories are:

  • Adult men: Individuals seeking durable and fashionable casual apparel, including jeans, casual pants, activewear, tops, shorts, jackets, footwear, and accessories, primarily under the Levi's and Dockers brands.
  • Adult women: Individuals looking for a wide range of denim and casual wear, including jeans, casual and dress pants, skirts, dresses, activewear, tops, shorts, jackets, footwear, and accessories, primarily under the Levi's and Dockers brands.
  • Children and teens: Consumers and their parents/guardians purchasing clothing, including jeans and casual wear, designed for younger demographics, under brands such as Levi's, Signature by Levi Strauss & Co., and Denizen.

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Michelle Gass, President & Chief Executive Officer

Michelle Gass joined Levi Strauss & Co. in 2023 as president and was appointed CEO in January 2024. She has over 30 years of experience in the retail and consumer goods industries. Prior to LS&Co., Ms. Gass served as CEO of Kohl's for five years, where she led its transformation into a leading omnichannel retailer, building a multibillion-dollar e-commerce business and establishing innovative partnerships with Sephora and Amazon. Before Kohl's, she spent over 16 years in leadership roles at Starbucks, including president of Starbucks EMEA, and began her career at Procter & Gamble. Ms. Gass also serves on the Board of Directors for PepsiCo.

Harmit Singh, Executive Vice President & Chief Financial and Growth Officer

Harmit Singh has served as Executive Vice President and Chief Financial Officer of Levi Strauss & Co. since January 2013, with his role expanding to Chief Financial and Growth Officer. He is responsible for managing global finance, strategy, information technology, strategic sourcing, real estate, and global business services. With over 30 years of experience in driving growth for global consumer brands, Mr. Singh previously served as Executive Vice President and Chief Financial Officer of Hyatt Hotels Corporation from 2008 to 2012, where he established a global financial structure and took the company public. He also spent 14 years at Yum! Brands, Inc. in various global leadership roles, including senior vice president and chief financial officer of Yum Restaurants International. Earlier in his career, he worked at American Express India and Price Waterhouse in India. Mr. Singh has served on the board of directors and as Audit Committee chair of Buffalo Wild Wings Inc., and is a former owner, operator, and franchisor of Buffalo Wild Wings Restaurants. He also served on the board of OpenText Corporation and joined the board of The AZEK® Company in 2023.

Karyn Hillman, Chief Product Officer, Merchandising and Design

Karyn Hillman's role at Levi Strauss & Co. has expanded to Chief Product Officer, encompassing Merchandising and Design. She is responsible for the overall vision, priorities, and roadmap for Levi's products and the brand. Ms. Hillman is a veteran merchant with over three decades of design and merchandising experience, known for her track record in building global brands and optimizing go-to-market strategies.

Jason Gowans, Chief Digital and Technology Officer

Jason Gowans' role has expanded to Chief Digital and Technology Officer at Levi Strauss & Co. In this position, he oversees the company's digital and enterprise technology functions, with a focus on streamlining processes, unifying data, and enhancing digital capabilities and operations across all platforms.

Bernard Bedon, Chief Human Resources Officer

Bernard Bedon was appointed Chief Human Resources Officer for Levi Strauss & Co., effective March 3. He joined LS&Co. from Nike, where he most recently served as lead human resources business partner (HRBP) for the company, supporting over 81,000 employees. Mr. Bedon brings nearly 30 years of HR experience and is recognized for leading complex global change initiatives and building high-performing teams.

AI Analysis | Feedback

The key risks to Levi Strauss & Co.'s business include macroeconomic pressures and consumer discretionary spending, supply chain disruptions and commodity price volatility, and the challenge of maintaining brand relevance amidst evolving consumer preferences.

  1. Macroeconomic Pressures and Consumer Discretionary Spending: Levi Strauss faces significant risks from global economic conditions, including inflation, fluctuations in foreign currency exchange rates, and reduced consumer discretionary spending. These factors can directly impact demand for its products, affecting revenue, operating margins, and net income.

  2. Supply Chain Disruptions and Commodity Price Volatility: The company's global operations expose it to risks such as container shipping disruptions, volatility in the availability and prices of raw materials like cotton, and the broader impact of political and economic instability on production and distribution lead times. Climate change may also exacerbate these supply chain challenges.

  3. Maintaining Brand Relevance and Adapting to Evolving Consumer Preferences: In the dynamic apparel market, Levi Strauss must continuously adapt to rapidly changing consumer preferences and media environments, including the increasing reliance on social media and digital marketing. The ability to forecast and respond timely to consumer demand and market conditions, while maintaining the value and reputation of its iconic brands, is crucial for sustained success.

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Levi Strauss & Co. operates within several large addressable markets for its main products and services.

For Denim/Jeans, a core product for Levi Strauss:

  • The global denim market was valued at USD 71.14 billion in 2024 and is projected to reach USD 119.51 billion by 2032.
  • In North America, the denim market size was valued at USD 45.08 billion in 2024 and is expected to reach USD 70.24 billion by 2032. The U.S. denim market alone was valued at USD 21.96 billion in 2025.
  • The Europe denim jeans market was valued at USD 22.65 billion in 2024 and is expected to reach USD 36.38 billion by 2032. Separately, the Europe jeans market size in 2026 is estimated at USD 28.73 billion.
  • The Asia Pacific denim jeans market generated a revenue of USD 21,371.2 million in 2024 and is expected to reach USD 34,614.8 million by 2030.

In the broader Apparel Market, which encompasses various clothing items:

  • The global apparel market size was valued at USD 1.8 trillion in 2024 and is expected to reach USD 2.5 trillion by 2034. Another estimate places the global apparel market at USD 1.84 trillion in 2025.
  • The U.S. apparel market was valued at approximately USD 420 billion in 2024.

For Casual Wear, a significant category for Levi's and Dockers brands:

  • The global casual wear market size was USD 637 billion in 2024 and is projected to reach USD 872.84 billion by 2033. Another source estimated the global casual wear market at USD 645.22 billion in 2025.
  • North America is projected to dominate the regional casual wear market size by 2033. The U.S. accounted for approximately 84% of the North American market in 2024.
  • Europe is identified as a fast-growing market, anticipated to reach USD 180.3 billion by 2033.
  • Asia Pacific led the global casual wear market with a 41.51% share in 2024.

For Activewear, which includes athletic-inspired clothing:

  • The global activewear market size was estimated at USD 440.39 billion in 2025 and is projected to reach USD 919.98 billion by 2033. Other estimates for the global activewear market size include USD 404 billion in 2024 and USD 406.83 billion in 2024.
  • The North America activewear market accounted for a revenue share of 38.1% of the global market in 2025. The U.S. activewear market was valued at around USD 135.1 billion in 2024 and projected to be USD 147.9 billion in 2025.

In the Footwear Market:

  • The global footwear market size was valued at USD 700.90 billion in 2024 and is expected to reach USD 1100.38 billion by 2032. Another report estimated the global footwear market size at USD 476.83 billion in 2025.
  • North America dominated the global footwear market with a revenue share of 27.12% in 2024.
  • Asia-Pacific is the fastest-growing footwear market globally.

For Fashion Accessories, including belts, wallets, and bags:

  • The global fashion accessories market size was estimated at USD 798.81 billion in 2024 and is projected to reach USD 1259.43 billion by 2030. Another estimate valued the global market at USD 1,143.52 billion in 2025.
  • North America fashion accessories market accounted for a revenue share of 35.5% in 2023.
  • Asia Pacific region dominated the global market with a share of 38.14% in 2025.

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Expected Drivers of Future Revenue Growth for Levi Strauss (LEVI) over the Next 2-3 Years:

  • Direct-to-Consumer (DTC) and E-commerce Acceleration: Levi Strauss is prioritizing a DTC-first strategy, aiming to increase sales through its company-operated mainline and outlet stores, as well as its e-commerce sites. This channel has shown consistent double-digit growth and is expected to be the fastest-growing segment, significantly contributing to overall revenue and expanding gross margins. The company plans to open 50-60 net new system doors annually for the next 4-6 years.
  • Global Expansion with a Focus on Asia: International markets have been a strong growth driver for Levi Strauss, with Asia specifically identified as a region with significant potential. The company expects mid to high single-digit growth in Asia for fiscal year 2026.
  • Product Diversification and Evolution into a Denim Lifestyle Brand: Levi Strauss is expanding its product line beyond traditional denim bottoms to become a "head-to-toe denim lifestyle company." This includes growth in women's apparel (which grew 11% in fiscal 2025) and tops categories, as well as leveraging brands like Beyond Yoga. Tops, for example, delivered double-digit growth in Q4 2025 and contributed nearly half of the quarter's revenue growth.
  • Strategic Pricing and Higher Full-Price Selling: The company plans to drive revenue growth and expand margins by implementing targeted price increases and focusing on a higher proportion of full-price sales. This strategy is also aimed at offsetting cost headwinds such as tariffs.
  • Leveraging Digital and AI Capabilities: Investments in digital and AI technologies are expected to enhance customer loyalty, improve speed to market, optimize inventory management, and boost profitability through improved customer engagement and operational efficiency. This includes AI-powered retail tools and a new consumer-facing stylist chatbot.

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Share Repurchases

  • In 2025, Levi Strauss made $150 million in share repurchases, marking the highest annual buyback since its IPO.
  • The company announced a new $200 million Accelerated Share Repurchase (ASR) program in early 2026, intended for completion within three to six months.
  • As of November 30, 2025, Levi Strauss had $440 million remaining under its existing share repurchase authorization, which has no expiration date.

Share Issuance

  • There is no readily available information indicating significant share issuances by Levi Strauss over the last 3-5 years.

Inbound Investments

  • No information is available regarding large inbound investments made in Levi Strauss by third-parties, such as strategic partners or private equity firms, during the specified period.

Outbound Investments

  • In August 2021, Levi Strauss acquired the athletic and lifestyle apparel brand Beyond Yoga for an undisclosed amount, to establish a presence in the activewear segment.
  • Levi Strauss sold its Dockers brand to Authentic Brands Group for an initial transaction value of $311 million, with a potential to reach up to $391 million, which was completed on February 27, 2026.
  • In the second quarter of 2024, Levi Strauss & Co. completed the acquisition of 40 Levi's brand stores and franchise associations from Expofaro S.A.S. for approximately $32 million.

Capital Expenditures

  • Levi Strauss's capital expenditures were $221.4 million in 2025 and $227.5 million in 2024, after peaking at $313.6 million in 2023.
  • The company's capital expenditures averaged $239.3 million for the fiscal years ending November 2021 to 2025.
  • The primary focus of capital expenditures includes investments in direct-to-consumer channels, upgrading distribution networks with omnichannel capabilities, and improving supply chain operations, such as the opening of a 575,000-square-foot e-commerce fulfillment center in Kentucky in 2023.

Better Bets vs. Levi Strauss (LEVI)

Peer Outperformance in Apparel, Accessories & Luxury Goods

LEVI has outperformed 71% of its 28 Apparel, Accessories & Luxury Goods peers over 5Y. Among the peers that beat it are TPR and KTB. Apparel, Accessories & Luxury Goods ranks 19th of 22 industries in Consumer Discretionary by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Apparel, Accessories & Luxury Goods constituents that LEVI has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
57%
of 28 industry peers · 17.7% return
3Y
61%
of 28 industry peers · 70.9% return
5Y
71%
of 28 industry peers · -1.7% return
Apparel, Accessories & Luxury Goods peers with revenue growth within 4pp of LEVI's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
LEVI Levi Strauss 3.3% 15.1x 17.7%70.9%-1.7% —
TPR Tapestry 7.3% 16.6x 24.3%421.8%258.4% +260pp
KTB Kontoor Brands 7.1% 16.3x 6.1%74.6%63.3% +65pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Consumer Discretionary sector, ranked by 5Y. Apparel, Accessories & Luxury Goods is LEVI's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Education Services 14 -15.2%33.1%45.5% CVSA 255% · GHC 110% · LRN 107%
Homebuilding 17 4.5%38.1%35.4% PHM 181% · TOL 164% · GRBK 154%
Automotive Retail 17 1.0%20.5%13.7% MUSA 205% · ORLY 115% · PAG 114%
Home Improvement Retail 5 -3.7%5.4%6.6% HD 8% · LOW 7% · FND -61%
Hotels, Resorts & Cruise Lines 21 22.9%53.1%6.0% RCL 245% · MAR 160% · HLT 147%
Home Furnishings 3 4.0%82.5%1.6% SGI 59% · MHK -15%
Footwear 9 80.5%86.0%-15.1% DECK 24% · SHOO -12% · CROX -15%
Computer & Electronics Retail 3 29.4%71.8%-22.5% BBY -3% · GME -55%
Specialized Consumer Services 10 -10.8%34.2%-23.9% FTDR 165% · HRB 157% · ADT 24%
Restaurants 36 -1.1%-3.5%-24.2% EAT 376% · CAKE 167% · TXRH 119%
Distributors 4 -4.4%-14.2%-24.8% ARMK 88% · GPC 5% · POOL -55%
Leisure Products 14 -18.9%-6.0%-34.7% GOLF 56% · HAS 51% · BC -12%
Household Appliances 18 22.8%22.9%-39.0% WHR -82%
Leisure Facilities 12 0.9%6.2%-41.2% OSW 156% · LTH 146% · PLNT -37%
Broadline Retail 12 -9.3%16.3%-44.5% EBAY 78% · AMZN 48% · OLLI 28%
Casinos & Gaming 21 -20.4%-16.7%-46.1% RRR 21% · BYD 20% · LVS 3%
Apparel Retail 27 -1.9%4.6%-47.5% ANF 241% · TJX 109% · ROST 108%
Automotive Parts & Equipment 37 -14.6%-28.4%-48.6% GTX 185% · PATK 73% · ALV 41%
Apparel, Accessories & Luxury Goods ← 29 13.2%22.5%-52.8% TPR 258% · RL 230% · KTB 63%
Other Specialty Retail 25 -4.7%-11.7%-58.9% ULTA 66% · ASO 54% · DKS 22%
Automobile Manufacturers 8 -60.7%-40.9%-69.5% GM 59% · F -12% · TSLA -16%
Consumer Electronics 11 -37.8%-36.5%-81.3% GRMN 123%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

LEVIURBNANFAEOLAKEPLCEMedian
NameLevi Str.Urban Ou.Abercrom.American.Lakeland.Children. 
Mkt Price22.8684.34150.3419.928.910.3321.39
Mkt Cap8.8-6.63.3--6.6
Rev LTM6,680-5,3415,750--5,750
Op Inc LTM788-732532--732
FCF LTM643-566343--566
FCF 3Y Avg534-486263--486
CFO LTM852-820599--820
CFO 3Y Avg757-693494--693

Growth & Margins

LEVIURBNANFAEOLAKEPLCEMedian
NameLevi Str.Urban Ou.Abercrom.American.Lakeland.Children. 
Rev Chg LTM6.6%-4.7%9.2%--6.6%
Rev Chg 3Y Avg3.3%-11.7%4.8%--4.8%
Rev Chg Q4.3%-4.8%7.5%--4.8%
QoQ Delta Rev Chg LTM1.0%-1.1%1.7%--1.1%
Op Inc Chg LTM10.7%--1.5%76.9%--10.7%
Op Inc Chg 3Y Avg20.7%-69.7%26.9%--26.9%
Op Mgn LTM11.8%-13.7%9.3%--11.8%
Op Mgn 3Y Avg10.6%-14.2%7.7%--10.6%
QoQ Delta Op Mgn LTM0.7%-0.7%1.8%--0.7%
CFO/Rev LTM12.8%-15.3%10.4%--12.8%
CFO/Rev 3Y Avg12.4%-13.8%9.0%--12.4%
FCF/Rev LTM9.6%-10.6%6.0%--9.6%
FCF/Rev 3Y Avg8.7%-9.7%4.8%--8.7%

Valuation

LEVIURBNANFAEOLAKEPLCEMedian
NameLevi Str.Urban Ou.Abercrom.American.Lakeland.Children. 
Mkt Cap8.8-6.63.3--6.6
P/S1.3-1.20.6--1.2
P/Op Inc11.2-9.06.3--9.0
P/EBIT10.7-8.76.3--8.7
P/E15.0-12.39.9--12.3
P/CFO10.4-8.05.6--8.0
Total Yield9.1%-7.8%12.4%--9.1%
Dividend Yield2.5%-0.0%2.5%--2.5%
FCF Yield 3Y Avg6.4%-8.6%7.8%--7.8%
D/E0.3-0.20.6--0.3
Net D/E0.2-0.10.5--0.2

Returns

LEVIURBNANFAEOLAKEPLCEMedian
NameLevi Str.Urban Ou.Abercrom.American.Lakeland.Children. 
1M Rtn12.2%5.1%6.3%12.1%-17.7%-82.9%5.7%
3M Rtn-5.2%8.6%36.1%13.2%-24.9%-87.7%1.7%
6M Rtn1.9%19.7%91.5%21.5%-17.8%-90.3%10.8%
12M Rtn16.5%30.8%113.6%20.4%-46.5%-95.8%18.5%
3Y Rtn69.2%136.4%126.9%18.5%-38.5%-98.8%43.8%
1M Excs Rtn19.5%7.2%9.2%15.0%-15.2%-81.6%8.2%
3M Excs Rtn-4.7%10.5%34.3%12.5%-25.0%-87.0%2.9%
6M Excs Rtn-2.8%15.1%86.9%16.8%-22.6%-94.9%6.2%
12M Excs Rtn7.2%20.6%106.3%13.1%-58.1%-108.4%10.2%
3Y Excs Rtn-0.7%63.4%67.7%-56.8%-121.1%-179.8%-28.7%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment6,2826,0325,8426,1695,764
Total6,2826,0325,8426,1695,764


Price Behavior

Price Behavior
Market Price$23.10 
Market Cap ($ Bil)8.9 
First Trading Date03/21/2019 
Distance from 52W High-8.8% 
   50 Days200 Days
DMA Price$20.48$21.44
DMA Trenddownindeterminate
Distance from DMA12.8%7.7%
 3M1YR
Volatility32.0%33.6%
Downside Capture94.23109.84
Upside Capture88.48120.36
Correlation (S&P 500)29.1%45.0%
LEVI Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta0.590.710.630.821.151.26
Up Beta-2.00-0.89-0.380.351.321.60
Down Beta0.250.440.410.750.991.11
Up Capture230%143%71%94%124%130%
Bmk +ve Days12182862130427
Stock +ve Days13233258113370
Down Capture-14%57%123%101%110%103%
Bmk -ve Days10253664121325
Stock -ve Days9193166134376

[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 LEVI
LEVI22.0%33.6%0.62-
Sector ETF (XLY)-0.6%19.9%-0.1655.6%
Equity (SPY)9.5%13.6%0.4144.6%
Gold (GLD)3.6%28.7%0.1119.3%
Commodities (DBC)37.7%21.2%1.40-30.9%
Real Estate (VNQ)12.0%14.2%0.5544.4%
Bitcoin (BTCUSD)-20.8%43.3%-0.4216.6%

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 LEVI
LEVI0.3%39.1%0.11-
Sector ETF (XLY)4.1%24.2%0.1356.3%
Equity (SPY)11.3%17.3%0.4855.4%
Gold (GLD)17.5%19.1%0.746.9%
Commodities (DBC)8.0%19.6%0.294.5%
Real Estate (VNQ)1.2%18.9%-0.0545.4%
Bitcoin (BTCUSD)5.9%51.5%0.2924.4%

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 LEVI
LEVI2.0%42.9%0.21-
Sector ETF (XLY)12.7%22.3%0.5255.0%
Equity (SPY)14.9%18.0%0.7054.0%
Gold (GLD)12.0%16.5%0.594.0%
Commodities (DBC)7.6%18.1%0.3314.3%
Real Estate (VNQ)5.7%20.7%0.2349.3%
Bitcoin (BTCUSD)61.3%66.2%1.0116.9%

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

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity9.0 Mil
Short Interest: % Change Since 93020264.1%
Average Daily Volume7.3 Mil
Days-to-Cover Short Interest1.2 days
Basic Shares Quantity386.1 Mil
Short % of Basic Shares2.3%

Earnings Returns History

Updated 11/6/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/7/2026-2.4%0.3%19.3%
7/8/2026-2.2%-2.0%0.4%
4/7/202610.7%13.6%17.5%
1/28/20260.3%-0.9%9.0%
10/9/2025-12.6%-13.8%-17.0%
7/10/202511.3%6.7%2.1%
4/7/2025-8.0%10.8%23.6%
1/29/20254.2%6.1%0.1%
...
SUMMARY STATS   
# Positive121417
# Negative12107
Median Positive5.8%6.5%11.7%
Median Negative-7.7%-9.7%-17.0%
Max Positive12.4%14.4%23.6%
Max Negative-16.0%-17.6%-22.7%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/7/2026-2.4%0.3%19.3%
7/8/2026-2.2%-2.0%0.4%
4/7/202610.7%13.6%17.5%
1/28/20260.3%-0.9%9.0%
10/9/2025-12.6%-13.8%-17.0%
7/10/202511.3%6.7%2.1%
4/7/2025-8.0%10.8%23.6%
1/29/20254.2%6.1%0.1%
10/2/2024-7.7%-10.3%-18.2%
6/26/2024-15.4%-17.6%-22.7%
4/3/202412.4%7.7%17.5%
1/25/20241.3%6.2%15.8%
10/5/2023-0.8%6.4%10.6%
7/6/2023-7.7%-0.8%5.1%
4/6/2023-16.0%-15.6%-20.7%
1/25/20237.5%14.4%7.3%
10/6/2022-11.7%-9.1%-3.4%
7/7/20221.0%4.0%17.0%
4/6/2022-0.7%-1.8%-7.8%
1/26/20228.4%14.1%12.9%
10/6/20218.5%1.9%11.7%
7/8/20211.4%1.5%-2.6%
4/8/20212.6%10.2%20.7%
1/27/2021-5.7%-10.3%5.9%
SUMMARY STATS   
# Positive121417
# Negative12107
Median Positive5.8%6.5%11.7%
Median Negative-7.7%-9.7%-17.0%
Max Positive12.4%14.4%23.6%
Max Negative-16.0%-17.6%-22.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
08/31/202610/07/202610-Q
05/31/202607/08/202610-Q
02/28/202604/07/202610-Q
11/30/202501/28/202610-K
08/31/202510/09/202510-Q
05/31/202507/10/202510-Q
02/28/202504/07/202510-Q
11/30/202401/29/202510-K
08/31/202410/02/202410-Q
05/31/202406/26/202410-Q
02/29/202404/03/202410-Q
11/30/202301/25/202410-K
08/31/202310/05/202310-Q
05/31/202307/06/202310-Q
02/28/202304/06/202310-Q
11/30/202201/25/202310-K
Collapse to Preview
Report DateFiling DateFiling
08/31/202610/07/202610-Q
05/31/202607/08/202610-Q
02/28/202604/07/202610-Q
11/30/202501/28/202610-K
08/31/202510/09/202510-Q
05/31/202507/10/202510-Q
02/28/202504/07/202510-Q
11/30/202401/29/202510-K
08/31/202410/02/202410-Q
05/31/202406/26/202410-Q
02/29/202404/03/202410-Q
11/30/202301/25/202410-K
08/31/202310/05/202310-Q
05/31/202307/06/202310-Q
02/28/202304/06/202310-Q
11/30/202201/25/202310-K
08/31/202210/06/202210-Q
05/31/202207/07/202210-Q
02/28/202204/06/202210-Q
11/30/202101/26/202210-K
08/31/202110/06/202110-Q
05/31/202107/08/202110-Q
02/28/202104/08/202110-Q
11/30/202001/27/202110-K
08/31/202010/06/202010-Q
05/31/202007/07/202010-Q
02/29/202004/07/202010-Q
11/30/201901/30/202010-K

Recent Forward Guidance

Updated 11/2/2026

Latest: Q3 2026 Earnings Reported 10/7/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Adjusted EBIT marginReported 12.1%  0.1%RaisedGuidance: 12.0% for 2026
2026 Reported net revenues growthReported 7.0%  -0.2%LoweredGuidance: 7.25% for 2026
2026 Organic net revenues growthReported 6.0%  0.2%RaisedGuidance: 5.75% for 2026
2026 Effective Tax RateReported 23.0%  0.0%AffirmedGuidance: 23.0% for 2026
2026 Adjusted diluted EPSReported1.541.551.564.0% RaisedGuidance: 1.49 for 2026
2026 Share RepurchasesReported 100.00 Mil    


Prior: Q2 2026 Earnings Reported 7/8/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Adjusted EBIT marginReported 12.0%  0.0%AffirmedGuidance: 12.0% for 2026
2026 Reported net revenues growthReported7.0%7.25%7.5% 1.2%RaisedGuidance: 6.0% for 2026
2026 Organic net revenues growthReported5.5%5.75%6.0% 0.8%RaisedGuidance: 5.0% for 2026
2026 Gross marginReported     Raised
2026 Tax rateReported 23.0%    
2026 Adjusted diluted EPSReported1.461.491.522.8% RaisedGuidance: 1.45 for 2026

Q1 2026 Earnings Reported 4/7/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Adjusted EBIT marginReported 12.0%  0.1%RaisedGuidance: 11.9% for 2026
2026 Reported net revenues growthReported5.5%6.0%6.5% 0.5%RaisedGuidance: 5.5% for 2026
2026 Organic net revenues growthReported4.5%5.0%5.5% 0.5%RaisedGuidance: 4.5% for 2026
2026 Adjusted diluted EPSReported1.421.451.481.4% RaisedGuidance: 1.43 for 2026

Q4 2025 Earnings Reported 1/28/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Adjusted EBIT marginReported11.8%11.9%12.0% 0.4%Higher NewActual: 11.5% for 2025
2026 Reported net revenues growthReported5.0%5.5%6.0% 2.5%Higher NewActual: 3.0% for 2025
2026 Organic net revenues growthReported4.0%4.5%5.0% -1.5%Lower NewActual: 6.0% for 2025
2026 Adjusted diluted EPSReported1.41.431.4610.4% Higher NewActual: 1.3 for 2025

Insider Activity

Updated 11/6/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Gowans, JasonEVP and CDTODirectSell1106202623.863,49483,3672,116,510Form
2Singh, Harmit JEVP & Chief Fin. & Growth Ofc.DirectSell724202624.2298,1442,377,0482,391,652Form
3Haas, Robert DAs trusteeSell615202624.02202,135  Form
4Haas, Robert DAs trusteeSell611202624.11488,851  Form
5Haas, Robert DAs trusteeSell611202624.003,182  Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Gowans, JasonEVP and CDTODirectSell1106202623.863,49483,3672,116,510Form
2Singh, Harmit JEVP & Chief Fin. & Growth Ofc.DirectSell724202624.2298,1442,377,0482,391,652Form
3Haas, Robert DAs trusteeSell615202624.02202,135  Form
4Haas, Robert DAs trusteeSell611202624.11488,851  Form
5Haas, Robert DAs trusteeSell611202624.003,182  Form
6Jedrzejek, DavidSVP and General CounselDirectSell603202622.823367,6682,421,156Form
7Haas, Margaret ESee FootnoteSell528202624.012,279  Form
8Peter, E. Haas JR Family FundDirectSell528202624.004,338  Form
9Haas, Robert DAs trusteeSell528202624.005,832  Form
10Haas, Robert DAs trusteeSell528202622.68192,451  Form
11Haas, Robert DAs trusteeSell526202622.01176,549  Form
12Haas, Robert DAs trusteeSell526202622.0031,000  Form
13Haas, Robert DAs trusteeSell519202621.13100,000  Form
14Hillman, KarynEVP and Chief Product OfficerDirectSell508202622.9138,938892,1122,096,870Form
15Singh, Harmit JEVP & Chief Fin. & Growth Ofc.DirectSell422202623.52121,7672,864,3253,499,211Form
16Singh, Harmit JEVP & Chief Fin. & Growth Ofc.DirectSell422202623.00110,0002,530,0006,221,822Form
17Gowans, JasonEVP and CDTODirectSell213202621.8340,000873,3242,012,990Form
18Jedrzejek, DavidSVP and General CounselDirectSell203202619.602,24844,0612,093,633Form
19Jedrzejek, DavidSVP and General CounselDirectSell129202621.387,093151,6482,099,366Form
20Jedrzejek, DavidSVP and General CounselDirectSell1110202520.604,34189,4251,927,563Form
Core Cache Last Updated: 11/5/2026