(PVH) PVH - Overview
Sector: Consumer Cyclical | Industry: Apparel Manufacturing | Exchange: NYSE (USA) | Market Cap: 3.195m USD | Total Return: 8.1% in 12m
Avg Trading Vol: 67.6M USD
Peers RS (IBD): 44.6
EPS Trend: -26.8%
Qual. Beats: 0
Rev. Trend: -21.0%
PVH Corp. (NYSE: PVH) is a global apparel company that markets a broad portfolio of brands-including Tommy Hilfiger, Calvin Klein, and various heritage and licensed lines-across men’s, women’s and children’s categories. Its operations are organized into five segments: Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, and Heritage Brands Wholesale, covering everything from apparel and footwear to home furnishings and accessories sold through wholesale, company-owned stores, outlets, and digital channels.
In FY 2023 the company generated $9.9 billion in revenue, posting an adjusted EPS of $2.10 and an operating margin of 10.5%. E-commerce sales accelerated 12% year-over-year, now representing roughly 22% of total revenue, while inventory turnover improved to 4.2 x, reflecting tighter supply-chain management. For FY 2024 the firm has raised its guidance, targeting a 4% top-line growth driven by continued expansion in the Asia-Pacific market and higher-margin “premium casual” product mixes.
Key macro drivers include a gradual easing of U.S. inflation to 2.8%, which is supporting discretionary spending, and a persistent consumer shift toward digitally native and sustainably sourced apparel-trends that are bolstering demand for PVH’s higher-priced, brand-focused offerings. Off-price and wholesale channels remain under pressure, but the company’s focus on direct-to-consumer growth is helping to offset that headwind.
For a deeper dive into PVH’s valuation metrics, you might explore ValueRay’s analysis.
- Global consumer discretionary spending directly impacts apparel sales
- International market growth drives Tommy Hilfiger and Calvin Klein revenue
- Supply chain disruptions increase production and logistics costs
- Brand licensing agreements provide consistent royalty income
- E-commerce penetration and digital sales growth boost profitability
| Net Income: 340.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA -2.49 > 1.0 |
| NWC/Revenue: 11.80% < 20% (prev 8.93%; Δ 2.87% < -1%) |
| CFO/TA 0.05 > 3% & CFO 583.7m > Net Income 340.8m |
| Net Debt (4.10b) to EBITDA (895.3m): 4.58 < 3 |
| Current Ratio: 1.47 > 1.5 & < 3 |
| Outstanding Shares: last quarter (47.9m) vs 12m ago -14.92% < -2% |
| Gross Margin: 57.37% > 18% (prev 0.60%; Δ 5.68k% > 0.5%) |
| Asset Turnover: 77.81% > 50% (prev 78.03%; Δ -0.22% > 0%) |
| Interest Coverage Ratio: 6.22 > 6 (EBITDA TTM 895.3m / Interest Expense TTM 99.5m) |
| A: 0.09 (Total Current Assets 3.28b - Total Current Liabilities 2.24b) / Total Assets 11.42b |
| B: 0.54 (Retained Earnings 6.17b / Total Assets 11.42b) |
| C: 0.05 (EBIT TTM 618.9m / Avg Total Assets 11.33b) |
| D: 0.84 (Book Value of Equity 5.51b / Total Liabilities 6.54b) |
| Altman-Z'' Score: 3.61 = AA |
| DSRI: 1.12 (Receivables 1.12b/999.0m, Revenue 8.82b/8.77b) |
| GMI: 1.04 (GM 57.37% / 59.86%) |
| AQI: 0.96 (AQ_t 0.49 / AQ_t-1 0.51) |
| SGI: 1.01 (Revenue 8.82b / 8.77b) |
| TATA: -0.02 (NI 340.8m - CFO 583.7m) / TA 11.42b) |
| Beneish M-Score: -2.94 (Cap -4..+1) = A |
Over the past week, the price has changed by +5.99%, over one month by +4.82%, over three months by +4.15% and over the past year by +8.13%.
- StrongBuy: 6
- Buy: 3
- Hold: 6
- Sell: 0
- StrongSell: 0
| ISSUER | TARGET | UP/DOWN |
|---|---|---|
| Wallstreet Target Price | 93 | 33.3% |
| Analysts Target Price | 93 | 33.3% |
P/E Forward = 5.3333
P/S = 0.3624
P/B = 0.6233
P/EG = 0.3419
Revenue TTM = 8.82b USD
EBIT TTM = 618.9m USD
EBITDA TTM = 895.3m USD
Long Term Debt = 2.25b USD (from longTermDebt, last quarter)
Short Term Debt = 352.8m USD (from shortTermDebt, last quarter)
Debt = 4.26b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 4.10b USD (from netDebt column, last quarter)
Enterprise Value = 7.29b USD (3.20b + Debt 4.26b - CCE 158.2m)
Interest Coverage Ratio = 6.22 (Ebit TTM 618.9m / Interest Expense TTM 99.5m)
EV/FCF = 16.51x (Enterprise Value 7.29b / FCF TTM 441.9m)
FCF Yield = 6.06% (FCF TTM 441.9m / Enterprise Value 7.29b)
FCF Margin = 5.01% (FCF TTM 441.9m / Revenue TTM 8.82b)
Net Margin = 3.87% (Net Income TTM 340.8m / Revenue TTM 8.82b)
Gross Margin = 57.37% ((Revenue TTM 8.82b - Cost of Revenue TTM 3.76b) / Revenue TTM)
Gross Margin QoQ = 56.05% (prev 57.04%)
Tobins Q-Ratio = 0.64 (Enterprise Value 7.29b / Total Assets 11.42b)
Interest Expense / Debt = 0.59% (Interest Expense 25.2m / Debt 4.26b)
Taxrate = 15.19% (107.2m / 705.7m)
NOPAT = 524.9m (EBIT 618.9m * (1 - 15.19%))
Current Ratio = 1.47 (Total Current Assets 3.28b / Total Current Liabilities 2.24b)
Debt / Equity = 0.87 (Debt 4.26b / totalStockholderEquity, last quarter 4.88b)
Debt / EBITDA = 4.58 (Net Debt 4.10b / EBITDA 895.3m)
Debt / FCF = 9.28 (Net Debt 4.10b / FCF TTM 441.9m)
Total Stockholder Equity = 4.88b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.01% (Net Income 340.8m / Total Assets 11.42b)
RoE = 6.99% (Net Income TTM 340.8m / Total Stockholder Equity 4.88b)
RoCE = 8.69% (EBIT 618.9m / Capital Employed (Equity 4.88b + L.T.Debt 2.25b))
RoIC = 7.41% (NOPAT 524.9m / Invested Capital 7.08b)
WACC = 4.96% (E(3.20b)/V(7.45b) * Re(10.89%) + D(4.26b)/V(7.45b) * Rd(0.59%) * (1-Tc(0.15)))
Discount Rate = 10.89% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -11.24%
[DCF] Terminal Value 80.82% ; FCFF base≈551.3m ; Y1≈361.9m ; Y5≈165.5m
[DCF] Fair Price = 25.22 (EV 5.25b - Net Debt 4.10b = Equity 1.15b / Shares 45.8m; r=6.0% [WACC]; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: -26.77 | EPS CAGR: -43.77% | SUE: -4.0 | # QB: 0
Revenue Correlation: -21.02 | Revenue CAGR: -1.52% | SUE: N/A | # QB: 0
EPS next Year (2027-01-31): EPS=11.88 | Chg7d=-0.036 | Chg30d=-0.064 | Revisions Net=+0 | Growth EPS=+8.8% | Growth Revenue=+1.7%