Columbia Sportswear
COLM Nasdaq Apparel, Accessories & Luxury Goods Financials FY2016–FY2025
Columbia Sportswear's revenue rose 0.8% to $3.4 billion in fiscal 2025. Its operating margin was 6.1%, down from 8.0% a year earlier. Free cash flow was $217 million, down 49.7%. It paid out $267 million in dividends and buybacks, 123% of free cash flow. The diluted share count fell 6.4%.
About these figures. Columbia Sportswear reports no borrowings (its credit lines are undrawn), so debt is counted as zero.
What Columbia Sportswear does
Columbia Sportswear designs and sells outdoor, active and lifestyle clothing, footwear, accessories and equipment. It has four brands: Columbia, SOREL (boots and lifestyle shoes), Mountain Hardwear (technical gear for climbers and skiers) and prAna (yoga and active clothing). The company was founded in Portland, Oregon, in 1938 and sells in 115 countries.
It reports four geographic segments: the United States (its largest), Latin America and Asia Pacific, Europe, Middle East and Africa, and Canada. Sales go through two channels. In wholesale, it sells to outdoor and sporting goods stores, department stores, internet retailers and international distributors. In direct-to-consumer, it sells through its own stores and websites. It also earns licensing revenue. Sales are weighted toward the third and fourth quarters.
Columbia does not own or run factories. Contract manufacturers outside the US make almost all of its finished goods, and in 2025 factories in Vietnam produced about 80% of its footwear. It competes with large companies, small local brands, new brands that sell mostly direct to consumers, and its own wholesale customers' private-label products. It had about 9,620 employees at the end of 2025, more than half of them in retail.
- Legal name
- COLUMBIA SPORTSWEAR COMPANY
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 25, 2026
- Accession · CIK
- 0001050797-26-000028
0001050797
Revenue and margins
Columbia Sportswear had $3.4B of revenue in fiscal 2025, up 0.9% on the year before.
Net income and earnings per share
From fiscal 2016 to 2025, diluted EPS grew 2.0% a year. Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was $217M in fiscal 2025, 6.4% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
Columbia Sportswear returned $267M to shareholders in fiscal 2025, 123% of free cash flow. The diluted share count fell 6.4%.
Value Columbia Sportswear yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Discounted cash flow
Value per share
—
Adds net cash of $791M and divides by 54.8M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Earnings multiple
Value per share
—
Reference multiples: today 16.0x · peers 12.2x · sector 17.9x.
Balance sheet
Cash, debt and the ratios that show how comfortably Columbia Sportswear can carry it.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $895M | $431M | $765M | $816M | $791M |
| Debt incl. finance leases | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Net debt / EBITDA | −1.8x | −1.0x | −2.1x | −2.5x | −3.0x |
| Debt / equity | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x |
| Current ratio | 3.1x | 2.9x | 3.4x | 2.6x | 2.6x |
| Quick ratio | 2.2x | 1.5x | 2.1x | 1.7x | 1.7x |
| Total assets | $3.1B | $3.1B | $2.9B | $3.0B | $2.9B |
| Total liabilities | $1.1B | $1.1B | $1.0B | $1.2B | $1.2B |
| Shareholders' equity | $2.0B | $1.9B | $1.9B | $1.8B | $1.7B |
| Net debt (− = net cash) | −$895M | −$431M | −$765M | −$816M | −$791M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
1 insider
Sold, 12 months
$1.2M
5 insiders
Of sales under plans
29%
$0.3M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 28, 2026 | Stephen E BabsonDirector | Sold | 4,150 | $67.95 | $0.3M | Form 4 |
| May 27, 2026 | Jim A SwansonEVP & CFO | Sold plan | 2,000 | $68.00 | $0.1M | Form 4 |
| May 27, 2026 | Ronald E. NelsonDirector | Sold | 4,080 | $67.78 | $0.3M | Form 4 |
| May 26, 2026 | Jim A SwansonEVP & CFO | Sold plan | 2,000 | $65.50 | $0.1M | Form 4 |
| May 4, 2026 | Sabrina SimmonsDirector | Sold plan | 1,329 | $61.24 | $0.1M | Form 4 |
| Nov 26, 2025 | Lisa KulokEVP Chief Supply Chain Officer | Sold | 5,262 | $54.62 | $0.3M | Form 4 |
| Nov 13, 2025 | Peter J BragdonPresident | Bought | 300 | $54.40 | $0.0M | Form 4 |
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ |
| Return on assets rose | ✕ | ✕ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ |
| Debt fell relative to assets | ✕ | ✕ | ✕ |
| Current ratio rose | ✓ | ✕ | ✕ |
| Share count didn't rise | ✓ | ✓ | ✓ |
| Gross margin rose | ✓ | ✓ | ✓ |
| Revenue rose relative to assets | ✓ | ✓ | ✕ |
| F-score | 7 / 9 | 6 / 9 | 5 / 9 |
| Accruals ratio | −12.9% | −9.1% | −3.6% |
| Altman Z'' | 8.11 | 6.93 | 6.64 |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Columbia Sportswear COLM | $3.1B | 0.9% | 6.1% | 6.4% | 17.0% | 16.0x | 5 | |
| Capri Holdings CPRI | $1.8B | −4.1% | 0.7% | 0.4% | 1.6% | 12.2x | 7 | Compare → |
| Gildan Activewear GIL | $6.2B | 10.7% | 17.1% | 13.8% | 9.9% | — | 6 | Compare → |
| Kontoor Brands KTB | $4.2B | 20.9% | 10.7% | 13.8% | 21.2% | 15.9x | 6 | Compare → |
| G-III Apparel Group GIII | $1.3B | −7.0% | 3.7% | 8.9% | 4.6% | 9.7x | 6 | Compare → |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $2.4B | $2.5B | $2.8B | $3.0B | $2.5B | $3.1B | $3.5B | $3.5B | $3.4B | $3.4B |
| Gross profit | $1.1B | $1.2B | $1.4B | $1.5B | $1.2B | $1.6B | $1.7B | $1.7B | $1.7B | $1.7B |
| Operating income | $257M | $263M | $351M | $395M | $137M | $451M | $393M | $310M | $271M | $207M |
| Interest expense | $1.0M | $0.7M | $0.0M | $0.0M | — | — | — | — | — | — |
| Pretax income | $257M | $267M | $361M | $405M | $140M | $452M | $397M | $326M | $298M | $230M |
| Income tax | −$58.5M | $154M | $85.8M | $74.9M | $31.5M | $97.4M | $86.0M | $74.8M | $74.9M | $52.4M |
| Net income | $192M | $105M | $268M | $331M | $108M | $354M | $311M | $251M | $223M | $177M |
| Diluted EPS | $2.72 | $1.49 | $3.81 | $4.83 | $1.62 | $5.33 | $4.95 | $4.09 | $3.82 | $3.24 |
| Diluted shares | 0.07B | 0.07B | 0.07B | 0.07B | 0.07B | 0.07B | 0.06B | 0.06B | 0.06B | 0.05B |
| Cash flow | ||||||||||
| Cash from operations | $275M | $341M | $290M | $286M | $276M | $354M | −$25.2M | $636M | $491M | $283M |
| Capital expenditure | $50.0M | $53.4M | $65.6M | $124M | $28.8M | $34.7M | $58.5M | $54.6M | $59.8M | $66.2M |
| Free cash flow | $225M | $288M | $224M | $162M | $247M | $320M | −$83.7M | $582M | $431M | $217M |
| Depreciation and amortization | $60.0M | $59.9M | $58.2M | $59.8M | $63.4M | $55.9M | $54.8M | $58.1M | $55.9M | $56.8M |
| Stock-based compensation | $11.0M | $11.3M | $14.3M | $17.8M | $17.8M | $19.1M | $21.0M | $23.1M | $24.8M | $24.2M |
| Acquisitions | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $0.0M | $35.5M | $202M | $122M | $133M | $165M | $287M | $184M | $318M | $201M |
| Dividends paid | $48.1M | $50.9M | $62.7M | $65.1M | $17.2M | $68.6M | $75.1M | $73.4M | $69.7M | $65.5M |
| Dividends and buybacks | $48.1M | $86.5M | $264M | $187M | $150M | $234M | $363M | $257M | $387M | $267M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $552M | $768M | $715M | $688M | $792M | $895M | $431M | $765M | $816M | $791M |
| Total debt | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Current assets | $1.4B | $1.6B | $1.8B | $1.9B | $1.9B | $2.1B | $2.1B | $2.0B | $2.0B | $2.0B |
| Current liabilities | $363M | $454M | $573M | $631M | $553M | $680M | $739M | $597M | $767M | $761M |
| Inventory | $488M | $458M | $522M | $606M | $557M | $645M | $1.0B | $746M | $691M | $690M |
| Property and equipment, net | $280M | $281M | $292M | $347M | $310M | $291M | $291M | $287M | $283M | $279M |
| Total assets | $2.0B | $2.2B | $2.4B | $2.9B | $2.8B | $3.1B | $3.1B | $2.9B | $3.0B | $2.9B |
| Total liabilities | $432M | $561M | $678M | $1.1B | $1.0B | $1.1B | $1.1B | $1.0B | $1.2B | $1.2B |
| Shareholders' equity | $1.6B | $1.6B | $1.7B | $1.8B | $1.8B | $2.0B | $1.9B | $1.9B | $1.8B | $1.7B |
| Margins | ||||||||||
| Gross margin | 46.7% | 47.0% | 49.5% | 49.8% | 48.9% | 51.6% | 49.4% | 49.6% | 50.2% | 50.5% |
| Operating margin | 10.8% | 10.7% | 12.5% | 13.0% | 5.5% | 14.4% | 11.4% | 8.9% | 8.0% | 6.1% |
| EBITDA margin | 13.3% | 13.1% | 14.6% | 15.0% | 8.0% | 16.2% | 12.9% | 10.6% | 9.7% | 7.8% |
| Net margin | 8.1% | 4.3% | 9.6% | 10.9% | 4.3% | 11.3% | 9.0% | 7.2% | 6.6% | 5.2% |
| FCF margin | 9.5% | 11.7% | 8.0% | 5.3% | 9.9% | 10.2% | −2.4% | 16.7% | 12.8% | 6.4% |
| Returns | ||||||||||
| Return on capital | 24.7% | 13.7% | 28.8% | 30.1% | 9.6% | 33.1% | 23.7% | 17.9% | 19.0% | 17.0% |
| Return on capital employed | 16.4% | 15.4% | 19.8% | 19.3% | 6.0% | 19.3% | 16.7% | 13.3% | 11.9% | 9.5% |
| Return on equity | 13.0% | 6.6% | 16.3% | 18.8% | 5.9% | 18.5% | 15.9% | 13.0% | 12.0% | 10.2% |
| Return on assets | 9.9% | 5.0% | 11.7% | 12.5% | 3.8% | 12.0% | 10.2% | 8.4% | 7.6% | 6.0% |
| Growth | ||||||||||
| Revenue growth | 2.2% | 3.8% | 13.6% | 8.6% | −17.8% | 25.0% | 10.8% | 0.7% | −3.4% | 0.9% |
| Net income growth | 10.1% | −45.2% | 155.2% | 23.2% | −67.3% | 227.8% | −12.1% | −19.3% | −11.2% | −20.6% |
| EPS growth | 11.0% | −45.2% | 155.7% | 26.8% | −66.5% | 229.0% | −7.1% | −17.4% | −6.6% | −15.2% |
| FCF growth | 794.0% | 27.8% | −22.2% | −27.7% | 52.7% | 29.3% | −126.2% | — | −25.9% | −49.7% |
| Share count change | −0.6% | −0.3% | −0.1% | −2.7% | −2.5% | −0.5% | −5.2% | −2.5% | −4.8% | −6.4% |
| Financial health | ||||||||||
| Net debt / EBITDA | −1.7x | −2.4x | −1.8x | −1.5x | −4.0x | −1.8x | −1.0x | −2.1x | −2.5x | −3.0x |
| Debt / equity | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x |
| Interest coverage | 244.5x | 383.9x | — | — | — | — | — | — | — | — |
| Current ratio | 3.9x | 3.6x | 3.1x | 3.0x | 3.4x | 3.1x | 2.9x | 3.4x | 2.6x | 2.6x |
| Quick ratio | 2.6x | 2.6x | 2.2x | 2.0x | 2.4x | 2.2x | 1.5x | 2.1x | 1.7x | 1.7x |
| Capital allocation | ||||||||||
| Capex / revenue | 2.1% | 2.2% | 2.3% | 4.1% | 1.2% | 1.1% | 1.7% | 1.6% | 1.8% | 2.0% |
| Stock comp / revenue | 0.5% | 0.5% | 0.5% | 0.6% | 0.7% | 0.6% | 0.6% | 0.7% | 0.7% | 0.7% |
| Payouts / FCF | 21.4% | 30.0% | 118.0% | 115.4% | 60.7% | 73.2% | — | 44.3% | 89.9% | 123.0% |
| Quality scores | ||||||||||
| Piotroski F-score | 7.0 | 5.0 | 7.0 | 6.0 | 5.0 | 7.0 | 3.0 | 7.0 | 6.0 | 5.0 |
| Altman Z'' | 10.6 | 9.8 | 9.2 | 7.5 | 7.3 | 8.1 | 7.8 | 8.1 | 6.9 | 6.6 |
| Accruals ratio | −4.3% | −11.2% | −0.9% | 1.7% | −5.8% | −0.0% | 11.0% | −12.9% | −9.1% | −3.6% |
Source: SEC EDGAR XBRL filings (CIK 0001050797). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.