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V.F. Corp Financials

VFC
Source SEC Filings (10-K/10-Q) Updated Dec 27, 2025 Currency USD FYE March

This page shows V.F. Corp (VFC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI VFC FY2025

A shrinking sales base is exposing fixed overhead, so balance-sheet repair matters more than product margin strength.

Over the recent downturn, gross margin held near 53.0% while revenue fell by about $1.6B, so the merchandise economics deteriorated far less than sales did. Because SG&A stayed around $4.7B, operating margin reached only 3.2% in the latest year, showing that the pressure came mainly from overhead no longer being spread across enough volume.

At the profit trough, the company still produced $1.0B of operating cash flow against a net loss of -$969M, a sign that cash and accounting earnings were moving for different reasons. That gap lines up with inventory reduction: stock fell from $2.8B to $1.7B, so cash was supported by clearing goods and releasing working capital rather than by fully restored profitability.

The balance sheet is less debt-heavy in absolute dollars, with long-term debt down to $3.4B from $4.7B, which lowers interest burden even before margins normalize. But equity has also shrunk to $1.5B, keeping leverage high at 2.3x and showing why debt reduction has not translated into a broadly stronger capital structure.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 21 / 100
Financial Profile 21/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of V.F. Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
29

V.F. Corp has an operating margin of 3.2%, meaning the company retains $3 of operating profit per $100 of revenue. This below-average margin results in a low score of 29/100, suggesting thin profitability after operating expenses. This is up from -1.5% the prior year.

Growth
21

V.F. Corp's revenue declined 4.1% year-over-year, from $9.9B to $9.5B. This contraction results in a growth score of 21/100.

Leverage
55

V.F. Corp has a moderate D/E ratio of 2.29. This balance of debt and equity financing earns a leverage score of 55/100.

Liquidity
23

V.F. Corp's current ratio of 1.40 is below the typical benchmark, resulting in a score of 23/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Returns
0

V.F. Corp generates a -12.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -58.4% the prior year.

Altman Z-Score Distress
1.72

V.F. Corp scores 1.72, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Strong
7/9

V.F. Corp passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed
-2.45x

For every $1 of reported earnings, V.F. Corp generates $-2.45 in operating cash flow ($465.2M OCF vs -$189.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk
1.7x

V.F. Corp earns $1.7 in operating income for every $1 of interest expense ($303.8M vs $174.1M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$9.5B
YoY-4.1%
5Y CAGR-2.0%
10Y CAGR-1.8%

V.F. Corp generated $9.5B in revenue in fiscal year 2025. This represents a decrease of 4.1% from the prior year.

EBITDA
$563.4M
YoY+244.4%
5Y CAGR-14.0%
10Y CAGR-11.4%

V.F. Corp's EBITDA was $563.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 244.4% from the prior year.

Net Income
-$189.7M
YoY+80.4%

V.F. Corp reported -$189.7M in net income in fiscal year 2025. This represents an increase of 80.4% from the prior year.

EPS (Diluted)
$0.18
YoY+106.9%
5Y CAGR-35.2%

V.F. Corp earned $0.18 per diluted share (EPS) in fiscal year 2025. This represents an increase of 106.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow
N/A
Cash & Debt
$429.4M
YoY-34.6%
5Y CAGR-20.7%
10Y CAGR-5.8%

V.F. Corp held $429.4M in cash against $3.4B in long-term debt as of fiscal year 2025.

Dividends Per Share
$0.36
YoY-53.8%
5Y CAGR-28.3%

V.F. Corp paid $0.36 per share in dividends in fiscal year 2025. This represents a decrease of 53.8% from the prior year.

Shares Outstanding
390M
YoY+0.2%
5Y CAGR+0.0%
10Y CAGR-1.2%

V.F. Corp had 390M shares outstanding in fiscal year 2025. This represents an increase of 0.2% from the prior year.

Margins & Returns

Gross Margin
53.5%
YoY+1.9pp
5Y CAGR-1.8pp
10Y CAGR+5.4pp

V.F. Corp's gross margin was 53.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.9 percentage points from the prior year.

Operating Margin
3.2%
YoY+4.7pp
5Y CAGR-5.6pp
10Y CAGR-11.2pp

V.F. Corp's operating margin was 3.2% in fiscal year 2025, reflecting core business profitability. This is up 4.7 percentage points from the prior year.

Net Margin
-2.0%
YoY+7.8pp
5Y CAGR-8.5pp
10Y CAGR-12.6pp

V.F. Corp's net profit margin was -2.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 7.8 percentage points from the prior year.

Return on Equity
-12.8%
YoY+45.7pp
5Y CAGR-33.0pp
10Y CAGR-32.7pp

V.F. Corp's ROE was -12.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 45.7 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
N/A

VFC Income Statement

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Revenue $2.9B+2.6% $2.8B+59.2% $1.8B-17.9% $2.1B-24.4% $2.8B+2.8% $2.8B+55.9% $1.8B-16.9% $2.1B
Cost of Revenue $1.2B-6.9% $1.3B+65.1% $811.7M-18.9% $1.0B-19.2% $1.2B-6.0% $1.3B+52.6% $863.4M-23.4% $1.1B
Gross Profit $1.6B+11.3% $1.5B+54.1% $949.0M-16.9% $1.1B-28.4% $1.6B+10.7% $1.4B+59.1% $905.7M-9.6% $1.0B
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $1.3B+13.8% $1.1B+11.0% $1.0B-12.0% $1.2B-10.7% $1.3B+13.0% $1.2B+13.4% $1.0B-10.2% $1.1B
Operating Income $289.1M-7.5% $312.6M+461.0% -$86.6M-18.8% -$72.9M-132.3% $225.8M-17.6% $273.9M+322.6% -$123.0M+68.8% -$394.2M
Interest Expense $39.7M-19.9% $49.6M+13.7% $43.6M+8.9% $40.1M-7.5% $43.3M-6.5% $46.4M+4.6% $44.3M-28.3% $61.8M
Income Tax $62.0M-21.0% $78.5M+870.9% -$10.2M-130.3% $33.7M+22.1% $27.6M-1.7% $28.0M+308.9% -$13.4M-1425.7% -$880K
Net Income $300.8M+58.5% $189.8M+263.0% -$116.4M+22.8% -$150.8M-189.9% $167.8M+221.6% $52.2M+120.2% -$258.9M+38.1% -$418.3M
EPS (Diluted) $0.76+58.3% $0.48+260.0% $-0.30 N/A $0.43-17.3% $0.52+233.3% $-0.39 N/A

VFC Balance Sheet

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Total Assets $10.4B-2.0% $10.6B+4.9% $10.2B+8.2% $9.4B-11.1% $10.6B-13.6% $12.2B+5.9% $11.5B-0.6% $11.6B
Current Assets $5.0B-2.7% $5.1B+17.0% $4.4B+15.6% $3.8B-24.6% $5.0B-22.3% $6.5B+48.5% $4.3B+2.9% $4.2B
Cash & Equivalents $1.5B+249.9% $419.1M-34.8% $642.4M+49.6% $429.4M-68.6% $1.4B+178.2% $492.2M-21.3% $625.4M-4.7% $656.4M
Inventory $1.7B-10.6% $1.9B-13.1% $2.1B+31.3% $1.6B-9.3% $1.8B-13.8% $2.1B+1.1% $2.1B+21.3% $1.7B
Accounts Receivable $1.4B-24.8% $1.9B+60.5% $1.2B-11.3% $1.3B-1.6% $1.3B-26.2% $1.8B+73.5% $1.0B-16.9% $1.3B
Goodwill $591.7M-4.7% $620.6M0.0% $620.8M+2.9% $603.4M-4.9% $634.4M-2.7% $651.9M+1.4% $643.2M-0.3% $645.4M
Total Liabilities $8.6B-5.7% $9.2B+3.5% $8.9B+12.3% $7.9B-11.1% $8.9B-17.9% $10.8B+6.5% $10.2B+2.0% $10.0B
Current Liabilities $3.2B-14.4% $3.8B+9.3% $3.4B+27.5% $2.7B-16.4% $3.2B-35.2% $5.0B+13.0% $4.4B+27.5% $3.5B
Long-Term Debt $3.6B+0.4% $3.5B-0.5% $3.6B+4.4% $3.4B-12.2% $3.9B-3.6% $4.0B+2.2% $3.9B-15.9% $4.7B
Total Equity $1.8B+20.7% $1.5B+14.4% $1.3B-13.1% $1.5B-11.5% $1.7B+19.5% $1.4B+1.3% $1.4B-16.3% $1.7B
Retained Earnings -$808.2M+27.0% -$1.1B+14.5% -$1.3B-10.4% -$1.2B-15.0% -$1.0B+13.9% -$1.2B+4.1% -$1.2B-26.8% -$974.6M

VFC Cash Flow Statement

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Operating Cash Flow $1.0B+545.1% -$227.0M-56.1% -$145.5M+15.0% -$171.1M-118.6% $918.1M+404.4% -$301.6M-1620.9% $19.8M+121.8% -$91.2M
Capital Expenditures N/A N/A N/A N/A N/A N/A N/A N/A
Free Cash Flow N/A N/A N/A N/A N/A N/A N/A N/A
Investing Cash Flow $547.7M+1434.2% -$41.1M+16.2% -$49.0M-172.6% -$18.0M-101.2% $1.5B+15109.8% -$9.8M+11.6% -$11.1M-156.0% $19.7M
Financing Cash Flow -$527.7M-939.1% $62.9M-81.4% $339.0M+143.1% -$786.3M+47.1% -$1.5B-1009.1% $163.4M+536.4% -$37.4M+83.3% -$223.8M
Dividends Paid $35.2M+0.1% $35.2M0.0% $35.1M+0.2% $35.1M+0.1% $35.0M0.0% $35.0M+0.1% $35.0M+0.1% $35.0M
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

VFC Financial Ratios

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Gross Margin 56.6%+4.4pp 52.2%-1.7pp 53.9%+0.6pp 53.3%-3.0pp 56.3%+4.1pp 52.2%+1.0pp 51.2%+4.1pp 47.1%
Operating Margin 10.1%-1.1pp 11.2%+16.1pp -4.9%-1.5pp -3.4%-11.4pp 8.0%-2.0pp 9.9%+16.9pp -7.0%+11.6pp -18.5%
Net Margin 10.5%+3.7pp 6.8%+13.4pp -6.6%+0.4pp -7.0%-13.0pp 5.9%+4.0pp 1.9%+16.5pp -14.6%+5.0pp -19.7%
Return on Equity 16.9%+4.0pp 12.8%+21.8pp -9.0%+1.1pp -10.1%-20.1pp 10.0%+6.3pp 3.7%+22.4pp -18.6%+6.6pp -25.2%
Return on Assets 2.9%+1.1pp 1.8%+2.9pp -1.1%+0.5pp -1.6%-3.2pp 1.6%+1.2pp 0.4%+2.7pp -2.2%+1.4pp -3.6%
Current Ratio 1.55+0.2 1.36+0.1 1.27-0.1 1.40-0.2 1.56+0.3 1.30+0.3 0.99-0.2 1.22
Debt-to-Equity 1.99-0.4 2.40-0.4 2.76+0.5 2.29-0.0 2.31-0.6 2.86+0.0 2.84+0.0 2.83
FCF Margin N/A N/A N/A N/A N/A N/A N/A N/A

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Frequently Asked Questions

V.F. Corp (VFC) reported $9.5B in total revenue for fiscal year 2025. This represents a -4.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

V.F. Corp (VFC) revenue declined by 4.1% year-over-year, from $9.9B to $9.5B in fiscal year 2025.

No, V.F. Corp (VFC) reported a net income of -$189.7M in fiscal year 2025, with a net profit margin of -2.0%.

V.F. Corp (VFC) reported diluted earnings per share of $0.18 for fiscal year 2025. This represents a 106.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

V.F. Corp (VFC) had EBITDA of $563.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, V.F. Corp (VFC) had $429.4M in cash and equivalents against $3.4B in long-term debt.

V.F. Corp (VFC) had a gross margin of 53.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

V.F. Corp (VFC) had an operating margin of 3.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

V.F. Corp (VFC) had a net profit margin of -2.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, V.F. Corp (VFC) paid $0.36 per share in dividends during fiscal year 2025.

V.F. Corp (VFC) has a return on equity of -12.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

V.F. Corp (VFC) generated $465.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

V.F. Corp (VFC) had $9.4B in total assets as of fiscal year 2025, including both current and long-term assets.

V.F. Corp (VFC) had 390M shares outstanding as of fiscal year 2025.

V.F. Corp (VFC) had a current ratio of 1.40 as of fiscal year 2025, which is considered adequate.

V.F. Corp (VFC) had a debt-to-equity ratio of 2.29 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

V.F. Corp (VFC) had a return on assets of -2.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

V.F. Corp (VFC) has an Altman Z-Score of 1.72, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

V.F. Corp (VFC) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

V.F. Corp (VFC) has an earnings quality ratio of -2.45x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

V.F. Corp (VFC) has an interest coverage ratio of 1.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

V.F. Corp (VFC) scores 21 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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