Tearsheet

VF (VFC)

Market Price (12/26/2025): $18.335 | Market Cap: $7.2 Bil
Sector: Consumer Discretionary | Industry: Apparel, Accessories & Luxury Goods

VF (VFC)

Market Price (12/26/2025): $18.335
Market Cap: $7.2 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 -41%, 3Y Excs Rtn is -104%	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 75%
1			Expensive valuation multiples P/EPrice/Earnings or Price/(Net Income) is 79x
2			Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -6.7%
3			Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 56%
4			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 -41%, 3Y Excs Rtn is -104%
2	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 75%
3	Expensive valuation multiples P/EPrice/Earnings or Price/(Net Income) is 79x
4	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -6.7%
5	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 56%
6	Key risks VFC key risks include [1] a highly leveraged balance sheet and debt management challenges, Show more.

Valuation, Metrics & Events

	12/26/25	2024	2023	2022
Share Price CYE	$18.34	$20.98	$17.99	$25.16
Market Cap CYE ($ Bil)	7.2	8.2	7.0	9.8
Total Debt ($ Bil)	5.8	5.4	7.3	8.2
Total Cash ($ Bil)	0.4	0.4	0.7	0.8
Enterprise Value ($ Bil)	12.5	13.6	14.3	18.0
Valuation Ratios
P/S TTM	0.8	0.9	0.7	1.0
P/EBIT TTM	18.0	26.2	-73.8	12.0
P/E TTM	79.3	-44.0	-7.5	90.3
P/FCF TTM	29.9	24.6	8.9	-11.9
Sector Ratios
P/S TTM (Sector)	0.8	0.8	0.9	0.8
P/EBIT TTM (Sector)	7.7	8.3	7.8	6.4
P/E TTM (Sector)	10.4	11.1	10.3	8.4
P/FCF TTM (Sector)	11.3	12.4	9.6	7.3

	12/26/25	2024	2023
Share Price CYE	$18.34	$20.98	$17.99
Market Cap CYE ($ Bil)	7.2	8.2	7.0
Total Debt ($ Bil)	5.8	5.4	7.3
Total Cash ($ Bil)	0.4	0.4	0.7
Enterprise Value ($ Bil)	12.5	13.6	14.3
Valuation Ratios
P/S TTM	0.8	0.9	0.7
P/EBIT TTM	18.0	26.2	-73.8
P/E TTM	79.3	-44.0	-7.5
P/FCF TTM	29.9	24.6	8.9
Sector Ratios
P/S TTM (Sector)	0.8	0.8	0.9
P/EBIT TTM (Sector)	7.7	8.3	7.8
P/E TTM (Sector)	10.4	11.1	10.3
P/FCF TTM (Sector)	11.3	12.4	9.6

	VFC	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	9.5
Rev Chg Q	1.6%	7.3%
Rev Chg LTM	-0.1%	6.1%
Rev Chg 3Y Avg	-6.7%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	0.5
CFO LTM ($ Bil)	0.4
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	4.9%	18.8%
CFO/Rev LTM	3.9%	20.4%
Net Inc Mgn	0.9%	13.1%
VALUATION	HIGH
P/S	0.8	3.3
P/CFO	19.1	15.8
P/FCF	29.9	20.7
P/E	79.3	23.5
STABILITY	POOR
Debt/Equity	0.81	0.21
Cash/Assets	0.04	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

Upcoming
2/04/2026	Earnings Release	Rev: - EPS: -

VFC Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Here are five key points explaining significant movements in VF Corporation's (VFC) stock price in the recent past: 1. Q4 FY24 Financial Results and Mixed Performance. VF Corporation reported its fourth-quarter fiscal 2024 results on May 22, 2024, revealing a 13% decline in overall revenue and a 26% decrease for its Vans brand. Despite these revenue challenges, the company exceeded its fiscal year 2024 cash flow expectations, generating $1 billion in operating cash flow and over $800 million in free cash flow. This mixed financial performance, combining revenue weaknesses with strong cash flow and debt reduction efforts, likely contributed to stock volatility as investors weighed the different signals.

2. Progress in "Reinvent" Transformation Program. The company continued to advance its "Reinvent" transformation program throughout 2024, focusing on improving North America performance, turning around the Vans brand, reducing costs, and strengthening its balance sheet. VF Corporation reported generating approximately $80 million in gross cost savings during fiscal year 2024 and incurred about $105 million in related charges, alongside a 23% decrease in inventories and a $540 million reduction in net debt in Q4 FY24. Such strategic initiatives and their execution likely influenced investor sentiment, with progress potentially boosting the stock and ongoing challenges creating downward pressure.

Show more Here are five key points explaining significant movements in VF Corporation's (VFC) stock price in the recent past: 1. Q4 FY24 Financial Results and Mixed Performance. VF Corporation reported its fourth-quarter fiscal 2024 results on May 22, 2024, revealing a 13% decline in overall revenue and a 26% decrease for its Vans brand. Despite these revenue challenges, the company exceeded its fiscal year 2024 cash flow expectations, generating $1 billion in operating cash flow and over $800 million in free cash flow. This mixed financial performance, combining revenue weaknesses with strong cash flow and debt reduction efforts, likely contributed to stock volatility as investors weighed the different signals.

2. Progress in "Reinvent" Transformation Program. The company continued to advance its "Reinvent" transformation program throughout 2024, focusing on improving North America performance, turning around the Vans brand, reducing costs, and strengthening its balance sheet. VF Corporation reported generating approximately $80 million in gross cost savings during fiscal year 2024 and incurred about $105 million in related charges, alongside a 23% decrease in inventories and a $540 million reduction in net debt in Q4 FY24. Such strategic initiatives and their execution likely influenced investor sentiment, with progress potentially boosting the stock and ongoing challenges creating downward pressure.

3. Significant Leadership Appointments. In June 2024, VF Corporation announced key leadership changes, including the appointment of Caroline Brown as Global Brand President of The North Face. Additionally, Mindy Grossman and Kirk Tanner were named independent directors to the VF Board in May 2024. Changes in leadership, particularly at the brand presidency level for a key brand like The North Face and on the board, are often seen by the market as signals of strategic direction and can lead to shifts in investor confidence.

4. Q1 FY25 Earnings with Revenue Beat. On August 7, 2024, VF Corporation reported its first-quarter fiscal 2025 earnings. The company's revenues exceeded analyst expectations, although its earnings per share (EPS) lagged behind. This mixed outcome, where stronger-than-anticipated revenue was tempered by an EPS miss, could have caused fluctuations in the stock price as the market reacted to both positive top-line performance and ongoing profitability concerns.

5. Q2 FY25 Earnings Showing Continued Mixed Results. VF Corporation's second-quarter fiscal 2025 earnings, reported on October 31, 2024, continued to show a similar pattern to the first quarter. Revenues again surpassed analyst expectations, while EPS fell short. Consistent mixed financial results, with ongoing efforts to improve profitability while managing revenue challenges in key segments, often contribute to investor uncertainty and can lead to significant, albeit sometimes volatile, movements in the stock price. Show less

Stock Movement Drivers

Fundamental Drivers

The 28.1% change in VFC stock from 9/25/2025 to 12/25/2025 was primarily driven by a 27.7% change in the company's P/S Multiple.

	9252025	12252025	Change
Stock Price ($)	14.32	18.34	28.08%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	9496.30	9541.06	0.47%
P/S Multiple	0.59	0.75	27.69%
Shares Outstanding (Mil)	390.02	390.65	-0.16%
Cumulative Contribution			28.08%

LTM = Last Twelve Months as of date shown

Market Drivers

9/25/2025 to 12/25/2025

	Return	Correlation
VFC	28.1%
Market (SPY)	4.9%	40.0%
Sector (XLY)	3.8%	49.6%

Fundamental Drivers

The 59.7% change in VFC stock from 6/26/2025 to 12/25/2025 was primarily driven by a 59.5% change in the company's P/S Multiple.

	6262025	12252025	Change
Stock Price ($)	11.48	18.34	59.70%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	9504.69	9541.06	0.38%
P/S Multiple	0.47	0.75	59.51%
Shares Outstanding (Mil)	389.61	390.65	-0.27%
Cumulative Contribution			59.70%

LTM = Last Twelve Months as of date shown

Market Drivers

6/26/2025 to 12/25/2025

	Return	Correlation
VFC	59.7%
Market (SPY)	13.1%	41.6%
Sector (XLY)	14.2%	49.6%

Fundamental Drivers

The -14.3% change in VFC stock from 12/25/2024 to 12/25/2025 was primarily driven by a -13.8% change in the company's P/S Multiple.

	12252024	12252025	Change
Stock Price ($)	21.39	18.34	-14.27%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	9554.50	9541.06	-0.14%
P/S Multiple	0.87	0.75	-13.79%
Shares Outstanding (Mil)	389.04	390.65	-0.41%
Cumulative Contribution			-14.27%

LTM = Last Twelve Months as of date shown

Market Drivers

12/25/2024 to 12/25/2025

	Return	Correlation
VFC	-14.3%
Market (SPY)	15.8%	66.2%
Sector (XLY)	5.3%	69.0%

Fundamental Drivers

The -22.8% change in VFC stock from 12/26/2022 to 12/25/2025 was primarily driven by a -73.7% change in the company's Net Income Margin (%).

	12262022	12252025	Change
Stock Price ($)	23.76	18.34	-22.81%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	11791.24	9541.06	-19.08%
Net Income Margin (%)	3.60%	0.95%	-73.68%
P/E Multiple	21.71	79.30	265.25%
Shares Outstanding (Mil)	387.69	390.65	-0.76%
Cumulative Contribution			-22.81%

LTM = Last Twelve Months as of date shown

Market Drivers

12/26/2023 to 12/25/2025

	Return	Correlation
VFC	2.4%
Market (SPY)	48.3%	49.3%
Sector (XLY)	38.1%	50.3%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
VFC Return	-12%	-12%	-60%	-29%	17%	-13%	-78%
Peers Return	31%	19%	-17%	25%	9%	-24%	34%
S&P 500 Return	16%	27%	-19%	24%	23%	18%	115%
Monthly Win Rates [3]
VFC Win Rate	50%	50%	17%	50%	58%	42%
Peers Win Rate	62%	53%	37%	65%	52%	47%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
VFC Max Drawdown	-54%	-21%	-64%	-50%	-36%	-54%
Peers Max Drawdown	-44%	-7%	-39%	-14%	-21%	-43%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[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] 2025 data is for the year up to 12/24/2025 (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, LULU, DECK, COLM, UA

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.

Better Bets than VF (VFC)

INDUSTRY: Apparel, Accessories & Luxury Goods

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PVH (-0.5% | 0.4x)

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Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for VFC: -6.7% | 15.3x)

LULU (14.2% | 10.2x)

Lululemon Athletica

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Gildan Activewear

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Levi Strauss

KTB (3.3% | 11.6x)

Kontoor Brands

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PVH

Higher Rev Chg LTM (Value for VFC: -0.1%)

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LULU (8.8%)

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TPR (8.1%)

Tapestry

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Gildan Activewear

Higher Rev Chg 3Y Avg (Value for VFC: -6.7%)

LULU (14.2%)

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RL (5.8%)

Ralph Lauren

TPR (2.5%)

Tapestry

GIL (0.7%)

Gildan Activewear

NKE (-0.3%)

Nike

Higher Op Mgn LTM (Value for VFC: 4.9%)

LULU (22.0%)

Lululemon Athletica

GIL (21.7%)

Gildan Activewear

TPR (18.7%)

Tapestry

RL (15.2%)

Ralph Lauren

NKE (7.4%)

Nike

Higher CFO/Rev LTM (Value for VFC: 3.9%)

LULU (16.8%)

Lululemon Athletica

TPR (16.8%)

Tapestry

RL (14.4%)

Ralph Lauren

LEVI (8.5%)

Levi Strauss

NKE (7.6%)

Nike

Higher FCF/Rev LTM (Value for VFC: 2.5%)

TPR (15.0%)

Tapestry

LULU (10.2%)

Lululemon Athletica

RL (8.8%)

Ralph Lauren

NKE (6.5%)

Nike

LEVI (4.9%)

Levi Strauss

Higher Total Yield (Value for VFC: 3.2%)

LEVI (9.1%)

Levi Strauss

LULU (7.0%)

Lululemon Athletica

GIL (5.7%)

Gildan Activewear

RL (4.8%)

Ralph Lauren

NKE (3.3%)

Nike

SECTOR: Consumer Discretionary

Higher Rev Chg 3Y Avg | Lower P/S (Values for VFC: -6.7% | 0.8x)

GM (8.6% | 0.4x)

General Motors

F (7.8% | 0.3x)

Ford Motor

GPC (4.1% | 0.7x)

Genuine Parts

MGA (4.0% | 0.4x)

Magna International

BBY (-4.4% | 0.4x)

Best Buy

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for VFC: -6.7% | 15.3x)

LOW (-4.2% | 13.2x)

Lowe's Companies

GM (8.6% | 9.7x)

General Motors

F (7.8% | 14.7x)

Ford Motor

DHI (0.9% | 9.8x)

D.R. Horton

CCL (45.9% | 9.5x)

Carnival

Higher Rev Chg LTM (Value for VFC: -0.1%)

BKNG (13.0%)

Booking

AMZN (10.9%)

Amazon.com

HD (7.5%)

Home Depot

TJX (4.5%)

TJX Companies

MCD (1.2%)

McDonald's

Higher Rev Chg 3Y Avg (Value for VFC: -6.7%)

BKNG (17.8%)

Booking

AMZN (11.3%)

Amazon.com

TSLA (9.3%)

Tesla

MCD (4.2%)

McDonald's

HD (1.9%)

Home Depot

Higher Op Mgn LTM (Value for VFC: 4.9%)

MCD (46.1%)

McDonald's

BKNG (34.5%)

Booking

HD (13.0%)

Home Depot

AMZN (11.4%)

Amazon.com

TSLA (5.1%)

Tesla

Higher CFO/Rev LTM (Value for VFC: 3.9%)

MCD (39.9%)

McDonald's

BKNG (33.2%)

Booking

AMZN (18.1%)

Amazon.com

TSLA (16.5%)

Tesla

HD (10.6%)

Home Depot

Higher FCF/Rev LTM (Value for VFC: 2.5%)

BKNG (31.9%)

Booking

MCD (28.1%)

McDonald's

HD (8.4%)

Home Depot

TJX (7.5%)

TJX Companies

TSLA (7.1%)

Tesla

Higher Total Yield (Value for VFC: 3.2%)

LOW (6.9%)

Lowe's Companies

HD (6.9%)

Home Depot

MCD (6.0%)

McDonald's

TJX (4.0%)

TJX Companies

BKNG (3.6%)

Booking

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for VFC: -6.7% | 0.8x)

UNH (11.4% | 0.7x)

UnitedHealth

MCK (12.6% | 0.3x)

McKesson

CVS (7.7% | 0.3x)

CVS Health

ELV (8.4% | 0.4x)

Elevance Health

CI (13.6% | 0.3x)

Cigna

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for VFC: -6.7% | 15.3x)

XOM (-5.6% | 14.3x)

Exxon Mobil

UNH (11.4% | 11.3x)

UnitedHealth

MRK (2.9% | 11.9x)

Merck

TMUS (2.4% | 11.5x)

T-Mobile US

DIS (4.5% | 14.9x)

Walt Disney

Higher Rev Chg LTM (Value for VFC: -0.1%)

NVDA (65.2%)

NVIDIA

META (21.3%)

Meta Platforms

MSFT (15.6%)

Microsoft

GOOGL (13.4%)

Alphabet

AAPL (6.0%)

Apple

Higher Rev Chg 3Y Avg (Value for VFC: -6.7%)

NVDA (91.6%)

NVIDIA

META (17.3%)

Meta Platforms

MSFT (13.2%)

Microsoft

GOOGL (11.0%)

Alphabet

AAPL (1.8%)

Apple

Higher Op Mgn LTM (Value for VFC: 4.9%)

NVDA (58.8%)

NVIDIA

MSFT (46.3%)

Microsoft

META (43.2%)

Meta Platforms

GOOGL (32.2%)

Alphabet

AAPL (31.9%)

Apple

Higher CFO/Rev LTM (Value for VFC: 3.9%)

META (56.8%)

Meta Platforms

MSFT (50.0%)

Microsoft

NVDA (44.4%)

NVIDIA

GOOGL (39.3%)

Alphabet

AAPL (26.6%)

Apple

Higher FCF/Rev LTM (Value for VFC: 2.5%)

NVDA (41.3%)

NVIDIA

MSFT (26.6%)

Microsoft

META (23.7%)

Meta Platforms

AAPL (23.5%)

Apple

GOOGL (19.1%)

Alphabet

Higher Total Yield (Value for VFC: 3.2%)

JPM (6.4%)

JPMorgan Chase

BRK-B (6.2%)

Berkshire Hathaway

META (3.8%)

Meta Platforms

MSFT (3.6%)

Microsoft

GOOGL (3.5%)

Alphabet

		Best Bets In Consumer Discretionary Sector
	VFC	ABNB	BKNG	DUOL	MCD	ETSY	LOPE	ALSN	GRMN	CROX	WH
What You Pay
P/E	79.3	31.8	35.0	21.5	26.5	30.5	22.1	12.1	25.1	21.4	17.3
P/EBIT	18.0	30.9	21.0	78.3	18.3	13.4	14.7	8.9	22.2	18.6	10.2
What You Get
Rev Chg Q	1.6%	9.7%	12.7%	41.1%	3.0%	2.4%	9.6%	-15.9%	11.7%	3.4%	-3.5%
Rev Chg LTM	-0.1%	10.2%	13.0%	39.9%	1.2%	2.0%	7.0%	-4.2%	16.6%	2.0%	3.4%
Rev Chg 3Y Avg	-6.7%	14.2%	17.8%	41.7%	4.2%	4.9%	6.5%	4.6%	12.2%	14.5%	-2.5%
FCF/Rev 3Y Avg	3.0%	40.2%	35.6%	30.3%	27.4%	23.8%	21.8%	21.0%	20.5%	19.8%	19.0%

[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	Topic
0	DASHBOARDS
1	VF Earnings Notes
2	VF Earnings Notes
3	VF Stock Drop Looks Sharp, But How Deep Can It Go?	Return
4	As VFC Surges 11% in a Week, UNH's Story Stands Out	Counter-Intuitive Comparisons
5	After VFC's 11% Climb in a Week, GM Looks Like the Stronger Long-Term Play	Counter-Intuitive Comparisons
6	With VFC Up 11% in a Week, Is It Time to Compare It Against KTB?	Counter-Intuitive Comparisons
7	Where Does VF Stock Rank Among Competitors?	Peer Comparison
8	Better Bet Than VFC Stock: Pay Less Than VF To Get More From MRK, EIX
9	VFC Dip Buy Analysis
10	VF (VFC) Stock: 32% of days in last 3 months had 1% or greater fluctuation

	Title
0	ARTICLES

Trade Ideas

Select ideas related to VFC. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
BBWI_11302025_Dip_Buyer_1M_Insider_Buying_GTE_1Mil_EBITp+DE	11302025	BBWI	Bath & Body Works	Dip Buy	DB \| Insider Buys \| Low D/EDip Buy with Strong Insider Buying Buying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	13.3%	13.3%	0.0%
HRB_11262025_Dip_Buyer_FCFYield	11262025	HRB	H&R Block	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	5.3%	5.3%	-0.1%
LRN_11262025_Dip_Buyer_FCFYield	11262025	LRN	Stride	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	3.4%	3.4%	-4.4%
ABNB_11212025_Dip_Buyer_FCFYield	11212025	ABNB	Airbnb	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	19.7%	19.7%	0.0%
MTN_11212025_Dip_Buyer_FCFYield	11212025	MTN	Vail Resorts	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	1.8%	1.8%	-1.6%
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
OMER	Omeros	0.9	75.5%	55.5%
DVAX	Dynavax Technologies	1.8	38.2%	20.4%
EWTX	Edgewise Therapeutics	2.9	25.5%	2.2%
AGIO	Agios Pharmaceuticals	1.7	18.6%	-11.2%
TVTX	Travere Therapeutics	3.6	13.9%	131.2%
KOD	Kodiak Sciences	1.6	13.2%	212.4%
RZLT	Rezolute	0.3	13.2%	-44.1%
UP	Wheels Up Experience	0.5	11.7%	-57.4%
FBYD	Falcons Beyond Global	0.7	9.5%	129.7%
BW	Babcock & Wilcox Enterprises	0.5	8.5%	226.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ASTS	AST SpaceMobile	18.9	-8.9%	269.9%
QBTS	D-Wave Quantum	9.4	-5.5%	227.6%
NNE	Nano Nuclear Energy	1.2	-4.6%	21.7%
MNMD	Mind Medicine	1.2	-4.2%	93.0%
PPTA	Perpetua Resources	2.0	-4.0%	149.1%
KOS	Kosmos Energy	0.4	-4.0%	-73.6%
FRMI	Fermi	5.5	-4.0%	-75.7%
EXOD	Exodus Movement	0.4	-3.9%	-50.5%
TLRY	Tilray Brands	10.8	-3.6%	-23.7%
AEHR	Aehr Test Systems	0.7	-3.1%	32.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
OMER	Omeros	0.9	74.0%	55.5%
LUNR	Intuitive Machines	2.0	63.7%	-8.0%
AAOI	Applied Optoelectronics	2.6	51.1%	11.2%
FBYD	Falcons Beyond Global	0.7	47.2%	129.7%
FLY	Firefly Aerospace	3.8	45.9%	-55.2%
RKLB	Rocket Lab	39.8	43.0%	203.0%
DVAX	Dynavax Technologies	1.8	42.5%	20.4%
UAMY	United States Antimony	0.8	39.9%	258.8%
DJT	Trump Media & Technology	4.0	36.7%	-58.0%
RZLT	Rezolute	0.3	36.3%	-44.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	31.7	-80.5%	-28.0%
TPL	Texas Pacific Land	6.8	-66.5%	-19.2%
LW	Lamb Weston	6.0	-28.6%	-34.8%
TLRY	Tilray Brands	10.8	-21.2%	-23.7%
INSP	Inspire Medical Systems	2.8	-19.1%	-48.4%
TDUP	ThredUp	0.8	-17.1%	354.7%
OLMA	Olema Pharmaceuticals	2.3	-15.8%	370.8%
IIPR	Innovative Industrial Properties	1.4	-12.9%	-15.7%
ABM	ABM Industries	2.6	-12.6%	-15.8%
FRMI	Fermi	5.5	-12.6%	-75.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
WVE	WAVE Life Sciences	3.0	144.6%	47.5%
TE	T1 Energy	1.1	124.5%	418.4%
ANF	Abercrombie & Fitch	6.0	93.2%	-15.2%
VERA	Vera Therapeutics	3.6	90.4%	31.6%
LUNR	Intuitive Machines	2.0	85.7%	-8.0%
AAOI	Applied Optoelectronics	2.6	82.5%	11.2%
RKLB	Rocket Lab	39.8	81.8%	203.0%
PL	Planet Labs PBC	6.2	76.1%	403.0%
NRGV	Energy Vault	0.8	66.9%	118.9%
FLY	Firefly Aerospace	3.8	60.4%	-55.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.3	-72.0%	-44.1%
JANX	Janux Therapeutics	0.9	-54.6%	-73.3%
LENZ	LENZ Therapeutics	0.5	-46.3%	-40.6%
FRMI	Fermi	5.5	-45.2%	-75.7%
GOGO	Gogo	0.6	-34.1%	-43.0%
HPK	HighPeak Energy	0.6	-30.8%	-69.2%
ORIC	ORIC Pharmaceuticals	0.7	-28.5%	4.5%
FDMT	4D Molecular Therapeutics	0.5	-25.6%	45.4%
NKTR	Nektar Therapeutics	0.6	-25.1%	215.0%
LW	Lamb Weston	6.0	-24.8%	-34.8%

Peer Comparisons for VF

Peers to compare with:

Financials

	VFC	NKE	DECK	LULU	COLM	LEVI	Median
Name	VF	Nike	Deckers .	Lululemo.	Columbia.	Levi Str.
Mkt Price	18.34	60.00	100.95	210.40	55.63	21.18	57.81
Mkt Cap	7.2	88.6	15.1	24.9	3.0	8.4	11.7
Rev LTM	9,541	46,440	5,125	11,073	3,424	6,589	8,065
Op Inc LTM	468	3,420	1,212	2,440	257	716	964
FCF LTM	240	3,009	880	1,128	169	324	602
FCF 3Y Avg	285	4,893	804	1,343	307	278	555
CFO LTM	375	3,526	968	1,861	234	560	764
CFO 3Y Avg	455	5,611	893	2,025	366	538	716

Growth & Margins

	VFC	NKE	DECK	LULU	COLM	LEVI	Median
Name	VF	Nike	Deckers .	Lululemo.	Columbia.	Levi Str.
Rev Chg LTM	-0.1%	-7.1%	15.5%	8.8%	2.8%	11.2%	5.8%
Rev Chg 3Y Avg	-6.7%	-0.3%	16.3%	14.2%	0.1%	1.9%	1.0%
Rev Chg Q	1.6%	1.1%	16.9%	7.1%	1.3%	7.0%	4.3%
QoQ Delta Rev Chg LTM	0.5%	0.3%	2.8%	1.6%	0.3%	1.5%	1.0%
Op Mgn LTM	4.9%	7.4%	23.6%	22.0%	7.5%	10.9%	9.2%
Op Mgn 3Y Avg	5.2%	10.2%	21.3%	22.4%	8.8%	8.9%	9.5%
QoQ Delta Op Mgn LTM	0.4%	-0.6%	-0.0%	-0.8%	-0.5%	0.3%	-0.3%
CFO/Rev LTM	3.9%	7.6%	18.9%	16.8%	6.8%	8.5%	8.0%
CFO/Rev 3Y Avg	4.7%	11.3%	20.2%	20.1%	10.7%	8.7%	11.0%
FCF/Rev LTM	2.5%	6.5%	17.2%	10.2%	5.0%	4.9%	5.7%
FCF/Rev 3Y Avg	3.0%	9.9%	18.1%	13.4%	9.0%	4.5%	9.4%

Valuation

	VFC	NKE	DECK	LULU	COLM	LEVI	Median
Name	VF	Nike	Deckers .	Lululemo.	Columbia.	Levi Str.
Mkt Cap	7.2	88.6	15.1	24.9	3.0	8.4	11.7
P/S	0.8	1.9	2.9	2.3	0.9	1.3	1.6
P/EBIT	18.0	25.9	11.8	10.2	11.8	12.3	12.1
P/E	79.3	30.6	15.2	14.3	16.3	13.9	15.7
P/CFO	19.1	25.1	15.6	13.4	13.0	15.0	15.3
Total Yield	3.2%	3.3%	6.6%	7.0%	8.3%	9.1%	6.8%
Dividend Yield	2.0%	0.0%	0.0%	0.0%	2.2%	1.9%	0.9%
FCF Yield 3Y Avg	4.1%	3.8%	4.7%	4.3%	7.3%	2.8%	4.2%
D/E	0.8	0.1	0.0	0.1	0.2	0.3	0.1
Net D/E	0.7	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	6.9%	-5.2%	18.1%	18.5%	2.6%	-2.4%	4.8%
3M Rtn	28.1%	-12.8%	-4.6%	22.3%	10.0%	-6.5%	2.7%
6M Rtn	59.7%	-2.9%	-1.0%	-9.1%	-8.8%	17.7%	-2.0%
12M Rtn	-14.3%	-20.0%	-51.5%	-45.4%	-35.0%	25.0%	-27.5%
3Y Rtn	-22.8%	-45.6%	55.0%	-32.5%	-31.9%	49.4%	-27.4%
1M Excs Rtn	9.2%	-5.9%	18.1%	20.6%	3.0%	-1.3%	6.1%
3M Excs Rtn	23.1%	-17.7%	-9.6%	17.4%	5.0%	-11.5%	-2.3%
6M Excs Rtn	46.8%	-15.8%	-13.8%	-22.0%	-21.7%	4.9%	-14.8%
12M Excs Rtn	-32.7%	-37.1%	-69.0%	-61.4%	-52.6%	8.5%	-44.8%
3Y Excs Rtn	-104.3%	-120.2%	-16.5%	-115.2%	-111.9%	-34.8%	-108.1%

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	9/27/2025	3/31/2025	3/31/2024	3/31/2023	3/31/2022	3/31/2021	3/28/2020
Filing Date	10/28/2025	5/22/2025	5/23/2024	5/25/2023	5/26/2022	5/27/2021	5/27/2020
Key Financials
Total Revenue	9,541	9,505	9,916	11,089	11,842	9,239	10,489
EBITDA	666	579	209	1,142	1,927	861	1,087
Operating Income	468	393	364	999	1,632	628	1,251
Net Income	90	-190	-969	119	1,387	408	679
EPS	0.23	-0.49	-2.49	0.31	3.55	1.05	1.72
Growth Rates
Total Revenue Growth	-0.1%	-4.1%	-10.6%	-6.4%	28.2%	-11.9%	2.2%
EBITDA Growth	2174.5%	177.6%	-81.7%	-40.7%	123.7%	-20.8%	-22.5%
Operating Income Growth	141.5%	8.1%	-63.6%	-38.8%	159.9%	-49.8%	5.1%
Net Income Growth	113.5%	80.4%	-917.0%	-91.4%	240.0%	-40.0%	-46.1%
Margins
EBITDA Margin	7.0%	6.1%	2.1%	10.3%	16.3%	9.3%	10.4%
Operating Income Margin	4.9%	4.1%	3.7%	9.0%	13.8%	6.8%	11.9%
Net Income Margin	0.9%	-2.0%	-9.8%	1.1%	11.7%	4.4%	6.5%
Cash & Debt
Total Cash	419	429	656	815	1,276	1,415	1,369
Total Debt	5,791	5,366	7,349	8,151	6,798	7,362	5,211
Net Debt / (Cash)	5,372	4,937	6,693	7,336	5,523	5,947	3,842
Cash Flows
Net Cash from Operations	375	465	1,015	-656	864	1,313	875
Free Cash from Operations	240	339	817	-901	536	1,039	541
Returns to Shareholders
Dividends	140	140	303	703	773	757	749
Share Repurchases	5	3	3	3	350	-0	1,000

$ Mil \| FY: 3/31	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3
Period End	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	12/31/2022
Filing Date	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	2/8/2023
Key Financials Quarterly
Total Revenue	2,803	1,761	2,144	2,834	2,758	1,769	2,247	2,780	2,920	2,086	2,216	3,531
Ebitda	388	-19	-3	300	339	-56	-280	27	423	60	510	852
Operating Income	313	-87	-35	277	274	-123	-123	166	351	-9	88	516
Net Income	190	-116	-151	168	52	-259	-418	-42	-451	-57	-215	508
EPS	0.49	-0.30	-0.39	0.43	0.13	-0.67	-1.08	-0.11	-1.16	-0.15	-0.55	1.31
Key Financials TTM
Total Revenue TTM	9,541	9,496	9,505	9,608	9,554	9,717	10,034	10,003	10,754	10,914	11,089	11,698
Ebitda TTM	666	617	579	302	29	113	230	1,020	1,845	1,387	1,363	1,124
Operating Income TTM	468	429	393	305	194	270	384	596	946	926	999	1,103
Net Income TTM	90	-47	-190	-457	-667	-1,170	-969	-765	-215	117	119	414
Growth Rates Quarterly
Total Revenue Growth	1.6%	-0.5%	-4.6%	1.9%	-5.6%	-15.2%	1.4%	-21.3%	-5.2%	-7.7%	-21.5%	-2.6%
EBITDA Growth	14.5%	67.1%	98.8%	1005.8%	-19.9%	-194.1%	-155.0%	-96.8%	1294.0%	63.6%	88.7%	15.1%
Operating Income Growth	14.1%	29.6%	71.8%	66.9%	-21.9%	-1268.1%	-239.3%	-67.9%	5.9%	-114.2%	-54.1%	-23.9%
Net Income Growth	263.7%	55.0%	64.0%	495.2%	111.6%	-350.8%	-94.7%	-108.4%	-280.6%	-2.6%	-365.8%	-1.9%
Margins Quarterly
EBITDA Margin	13.8%	-1.1%	-0.2%	10.6%	12.3%	-3.2%	-12.5%	1.0%	14.5%	2.9%	23.0%	24.1%
Operating Income Margin	11.2%	-4.9%	-1.6%	9.8%	9.9%	-7.0%	-5.5%	6.0%	12.0%	-0.4%	4.0%	14.6%
Net Income Margin	6.8%	-6.6%	-7.0%	5.9%	1.9%	-14.6%	-18.6%	-1.5%	-15.4%	-2.8%	-9.7%	14.4%
Cash & Debt
Total Cash	419	642	429	1,369	492	637	656	988	499	807	815	571
Total Debt	5,791	5,675	5,366	5,751	7,378	7,121	7,349	7,342	7,803	7,866	8,151	7,498
Net Debt / (Cash)	5,372	5,033	4,937	4,382	6,886	6,484	6,693	6,354	7,304	7,059	7,336	6,927
Cash Flows Quarterly
FCF from Operations	-227	-145	-171	918	-302	20	-91	1,125	-183	164	178	80
Cash Flows TTM
FCF from Operations TTM	375	300	465	545	752	871	1,015	1,283	239	-134	-656	-767
Returns to Shareholders Quarterly
Dividends	35	35	35	35	35	35	35	35	117	117	117	198
Share Repurchases	0	5	0	-0	1	2	0	0	1	2	0	1
Return on Invested Capital (ROIC) Quarterly
ROIC	11.1%	-4.2%	-1.8%	13.4%	10.2%	-5.0%	-5.3%	6.1%	14.0%	-0.3%	3.1%	20.9%
Return on Invested Capital (ROIC) TTM
ROIC TTM	2.4%	3.2%	2.5%	4.3%	2.0%	3.0%	4.1%	6.6%	3.4%	9.4%	9.8%	10.8%

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	$18.34
Market Cap ($ Bil)	7.2
First Trading Date	07/01/1985
Distance from 52W High	-30.3%
	50 Days	200 Days
DMA Price	$16.34	$13.97
DMA Trend	down	up
Distance from DMA	12.3%	31.3%
	3M	1YR
Volatility	56.6%	70.2%
Downside Capture	135.26	254.85
Upside Capture	221.59	204.74
Correlation (SPY)	41.0%	66.0%

VFC Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.95	1.80	1.72	2.16	2.32	1.81
Up Beta	0.08	2.14	2.69	2.75	2.47	2.05
Down Beta	-0.44	2.05	1.70	1.75	2.24	1.94
Up Capture	509%	239%	174%	281%	383%	254%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	12	24	32	64	125	369
Down Capture	169%	112%	123%	181%	151%	110%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	8	18	31	62	124	379

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

Based On 1-Year Data

		Comparison of VFC With Other Asset Classes (Last 1Y)
	VFC	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-13.4%	8.3%	19.2%	71.9%	8.9%	6.0%	-10.1%
Annualized Volatility	69.7%	24.3%	19.5%	19.3%	15.3%	17.1%	35.0%
Sharpe Ratio	0.09	0.27	0.78	2.69	0.36	0.18	-0.12
Correlation With Other Assets		68.5%	66.0%	-1.9%	26.1%	56.2%	25.8%

ETFs used for asset classes: Sector ETF = XLY, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of VFC With Other Asset Classes (Last 5Y)
	VFC	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-24.1%	9.8%	14.9%	18.7%	11.7%	4.8%	32.7%
Annualized Volatility	52.6%	23.8%	17.1%	15.5%	18.7%	18.9%	48.7%
Sharpe Ratio	-0.32	0.37	0.70	0.97	0.51	0.17	0.60
Correlation With Other Assets		47.5%	47.9%	5.3%	11.1%	44.6%	18.3%

Based On 10-Year Data

		Comparison of VFC With Other Asset Classes (Last 10Y)
	VFC	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-8.5%	13.1%	14.7%	14.9%	6.9%	5.2%	69.3%
Annualized Volatility	44.3%	22.0%	18.0%	14.8%	17.6%	20.8%	55.8%
Sharpe Ratio	-0.04	0.55	0.70	0.83	0.31	0.22	0.90
Correlation With Other Assets		53.6%	53.1%	0.2%	17.6%	47.8%	13.0%

Short Interest

Short Interest: As Of Date	12152025
Short Interest: Shares Quantity	19,814,491
Short Interest: % Change Since 11302025	-21.7%
Average Daily Volume	6,092,517
Days-to-Cover Short Interest	3.25
Basic Shares Quantity	390,648,000
Short % of Basic Shares	5.1%

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
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%
...
SUMMARY STATS
# Positive	4	6	11
# Negative	20	18	13
Median Positive	6.6%	5.8%	8.5%
Median Negative	-4.8%	-5.4%	-7.5%
Max Positive	27.0%	26.1%	21.7%
Max Negative	-15.8%	-14.7%	-18.3%

	Forward Returns
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	20	18	13
Median Positive	6.6%	5.8%	8.5%
Median Negative	-4.8%	-5.4%	-7.5%
Max Positive	27.0%	26.1%	21.7%
Max Negative	-15.8%	-14.7%	-18.3%

SEC Filings

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Report Date	Filing Date	Filing
9302025	10282025	10-Q 9/27/2025
6302025	7302025	10-Q 6/30/2025
3312025	5222025	10-K 3/31/2025
12312024	1292025	10-Q 12/31/2024
9302024	10302024	10-Q 9/30/2024
6302024	8072024	10-Q 6/30/2024
3312024	5232024	10-K 3/31/2024
12312023	2072024	10-Q 12/31/2023
9302023	11032023	10-Q 9/30/2023
6302023	8032023	10-Q 6/30/2023
3312023	5252023	10-K 3/31/2023
12312022	2082023	10-Q 12/31/2022
9302022	11022022	10-Q 10/1/2022
6302022	8052022	10-Q 7/2/2022
3312022	5262022	10-K 3/31/2022
12312021	1282022	10-Q 12/31/2021

Insider Activity

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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

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VF (VFC)

Market Price (12/26/2025): $18.335 | Market Cap: $7.2 BilSector: Consumer Discretionary | Industry: Apparel, Accessories & Luxury Goods

VF (VFC)

Market Price (12/26/2025): $18.335Market Cap: $7.2 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

VFC Stock

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 than VF (VFC)

INDUSTRY: Apparel, Accessories & Luxury Goods

Higher Rev Chg 3Y Avg | Lower P/S (Values for VFC: -6.7% | 0.8x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for VFC: -6.7% | 15.3x)

Higher Rev Chg LTM (Value for VFC: -0.1%)

Higher Rev Chg 3Y Avg (Value for VFC: -6.7%)

Higher Op Mgn LTM (Value for VFC: 4.9%)

Higher CFO/Rev LTM (Value for VFC: 3.9%)

Higher FCF/Rev LTM (Value for VFC: 2.5%)

Higher Total Yield (Value for VFC: 3.2%)

SECTOR: Consumer Discretionary

Higher Rev Chg 3Y Avg | Lower P/S (Values for VFC: -6.7% | 0.8x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for VFC: -6.7% | 15.3x)

Higher Rev Chg LTM (Value for VFC: -0.1%)

Higher Rev Chg 3Y Avg (Value for VFC: -6.7%)

Higher Op Mgn LTM (Value for VFC: 4.9%)

Higher CFO/Rev LTM (Value for VFC: 3.9%)

Higher FCF/Rev LTM (Value for VFC: 2.5%)

Higher Total Yield (Value for VFC: 3.2%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for VFC: -6.7% | 0.8x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for VFC: -6.7% | 15.3x)

Higher Rev Chg LTM (Value for VFC: -0.1%)

Higher Rev Chg 3Y Avg (Value for VFC: -6.7%)

Higher Op Mgn LTM (Value for VFC: 4.9%)

Higher CFO/Rev LTM (Value for VFC: 3.9%)

Higher FCF/Rev LTM (Value for VFC: 2.5%)

Higher Total Yield (Value for VFC: 3.2%)

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Market Price (12/26/2025): $18.335 | Market Cap: $7.2 Bil
Sector: Consumer Discretionary | Industry: Apparel, Accessories & Luxury Goods

Market Price (12/26/2025): $18.335
Market Cap: $7.2 Bil
Sector: Consumer Discretionary
Industry: Apparel, Accessories & Luxury Goods