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Apparel and footwear house owning outdoor and lifestyle brands including The North Face, Vans and Timberland.
Apparel and footwear house owning outdoor and lifestyle brands including The North Face, Vans and Timberland.
Sells through wholesale accounts such as department and outdoor-sports stores, plus its own shops and websites. The North Face is now the biggest brand while Vans has been shrinking. It sold the Supreme streetwear label to EssilorLuxottica in 2024 and has been selling smaller brands to pay down debt.
Moat: narrow (brand, distribution). Portfolio of established outdoor/lifestyle brands retains recognition, though Vans has struggled with relevance.
Headquarters: Denver, Colorado, US · Founded: 1899 · Employees: 26,000
Size V.F (VFC) is a United States Consumer Discretionary company (Apparel/Footwear) with a market value of $8.01B, the 883rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $20.35 on 6 Nov 2026.
Performance Over six months the shares gained 7.2%, against +2.1% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue fell 1.6% over the last twelve months (peer median +4.7%); the operating margin is 8.0% (peer median 14.5%).
Valuation It trades at 16.6× forward earnings against a peer median of 14.3× (7th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +1%, so the hurdle is +10 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 0.7 points below its cost of capital (9.7% WACC).
Backlog Backlog (remaining performance obligations) was $5.70M at 26 Sep 2026, down 89% on a year earlier — 0.0 years of trailing revenue. Backlog detail →
Credit V.F has 7 bonds outstanding ($3.48B), rated BB by the agencies and trading like BB+ at a weighted spread of 151 bp.
Short interest Short interest is 9.4% of the free float (15 Oct 2026).
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $9.40B | $9.60B | $9.53B | $9.92B | $11.6B |
| Revenue growth | — | +1% | -4% | -15% | — |
| Gross profit | $5.34B | $5.30B | $5.12B | $5.11B | $5.99B |
| EBITDA | $1.38B | $1.31B | $1.12B | $1.11B | $1.28B |
| Net income | $370M | $255M | -$55.5M | -$969M | $119M |
| Free cash flow | $687M | $544M | $379M | $878M | -$829M |
| Capital expenditure | $143M | $166M | $126M | $197M | $261M |
| Total debt | $5.00B | $4.98B | $5.37B | $7.35B | $8.15B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| V.F VFC | $8.01B | +7% | -2% | 8% | 16.6× | 11.1% |
| Columbia Sportswear COLM | $3.61B | +12% | 0% | 8% | 16.2× | 4.6% |
| Deckers Brands DECK | $11.6B | -14% | +6% | 23% | 11.0× | -3.3% |
| Nike NKE | $57.3B | -13% | -1% | 9% | 30.4× | 7.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | VFC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +40.1% | +11.2% | highest of 21 |
| 6-month return | +7.2% | +2.1% | 5th highest of 21 |
| Distance from 52-week high | -8.6% | -18.6% | 4th highest of 21 |
| Revenue growth (TTM) | -1.6% | +4.7% | 5th lowest of 21 |
| Operating margin | 8.0% | 14.5% | 5th lowest of 21 |
| Forward P/E | 16.6× | 14.3× | 7th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 11.1% | 5.2% | 6th most demanding of 20 |
| Growth delivered (Del g) | +0.8% | +13.7% | 3rd lowest of 20 |
| Hurdle (Req g minus delivered) | +10.3 pp | -12.5 pp | 3rd most demanding of 20 |
| ROIC minus cost of capital | -0.7 pp | +7.4 pp | 7th lowest of 21 |
| EV / EBITDA | 9.1× | 9.3× | 9th cheapest of 17 |
| Net debt / EBITDA | 3.3× | 1.0× | 3rd most indebted of 17 |
| Bond spread | 151 bp | 146 bp | 3rd tightest of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| V.F VFC | United States | $8.01B | +7% | -2% | 8% | 16.6× | 11.1% | +0.8% |
| Shenzhou Intl 2313.HK | Hong Kong | $8.08B | -7% | +2% | 16% | 11.8× | -4.5% | +5.4% |
| Levi Strauss & LEVI | United States | $8.77B | +1% | +5% | 13% | 14.6× | 5.2% | +7.1% |
| Huali Industrial 300979.SZ | China | $7.09B | +6% | -10% | 14% | 19.7× | -4.4% | +12.4% |
| Crocs CROX | United States | $6.94B | +47% | +1% | 23% | 9.6× | 1.1% | +23.9% |
| Bosideng International 3998.HK | Hong Kong | $6.64B | +3% | +8% | 18% | 10.3× | -10.8% | +14.2% |
| Birkenstock BIRK | United States | $6.64B | -5% | +20% | 24% | 13.9× | 7.4% | +19.9% |
| Brunello Cucinelli BC.MI | Italy | $6.61B | +4% | +10% | 18% | 37.8× | 20.6% | +20.9% |
| Gildan Activewear GIL.TO | Canada | $6.48B | -40% | +40% | 15% | 6.8× | 6.5% | +13.7% |
| Ermenegildo Zegna ZGN | United States | $5.96B | +7% | +11% | 9% | 31.1× | 20.3% | +11.3% |
| Youngor Fashion 600177.SS | China | $5.69B | +10% | -5% | -3% | 12.8× | 23.3% | +0.1% |
| Deckers Brands DECK | United States | $11.6B | -14% | +6% | 23% | 11.0× | -3.3% | +16.5% |
| Burberry BRBY.L | United Kingdom | $5.38B | -4% | -2% | 7% | 28.8× | 19.1% | +0.6% |
| On Holding AG Class A ONON | United States | $12.3B | +6% | +29% | 14% | 20.0× | 22.0% | +51.6% |
| Li Ning 2331.HK | Hong Kong | $5.10B | -21% | +7% | 13% | 14.4× | -5.4% | +14.6% |
| Abc-mart 2670.T | Japan | $5.03B | +20% | +4% | 17% | 16.2× | -10.0% | +11.4% |
| Lululemon Athletica LULU | United States | $12.8B | -16% | +2% | 18% | 13.4× | -8.9% | +20.3% |
| Fosun International 0656.HK | Hong Kong | $4.82B | +11% | -1% | 3% | 12.9× | 10.6% | +4.1% |
| Moncler MONC.MI | Italy | $13.8B | -11% | +3% | 29% | 19.5× | 10.8% | +16.8% |
| HLA 600398.SS | China | $4.47B | -6% | +7% | 11% | 14.3× | -13.1% | +3.8% |
| Puma PUM.DE | Germany | $4.42B | +4% | -19% | -6% | n/a | n/a | n/a |
V.F has 7 bonds outstanding with $3.48B face value. The agencies rate it BB; its bonds trade like BB+. Weighted yield 5.22%, a spread of 151 bp over government bonds.
V.F reported $5.70M of remaining performance obligations at 26 Sep 2026, down 89% from a year earlier and down 33% from the previous quarter. That is 0.0 years of trailing revenue already under contract. Book-to-bill last quarter: 1.00.