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Carter's

CRI NYSE Apparel, Accessories & Luxury Goods Financials FY2016–FY2025

Carter's revenue rose 1.9% to $2.9 billion in fiscal 2025. Its operating margin was 5.0%, down from 9.0% a year earlier. Free cash flow was $69 million, down 71.7%. It paid out $56 million in dividends and buybacks, 82% of free cash flow. The diluted share count fell 0.3%.

Last close · Oct 23, 2026

$32.60

3.9%
Value it Compare
Revenue Total sales reported in the income statement.
$2.9B
1.9% vs prior year
Operating margin Operating income as a share of revenue.
5.0%
4.0 pts
Net income Profit after all expenses, interest and tax.
$91.8M
50.5%
Free cash flow Cash from operations minus capital spending.
$68.6M
71.7%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
11.9%
9.3 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$1.2B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
6.1x
On $5.36 EPS (TTM)

What Carter's does

No business description yet.

Legal name
CARTER’S, INC.
Fiscal year ends
January 3, 2026
Latest annual report
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Accession · CIK
0001060822-26-000016
0001060822

Revenue and margins

Carter's had $2.9B of revenue in fiscal 2025, up 1.9% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew −7.5% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $68.6M in fiscal 2025, 2.4% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Carter's returned $56.4M to shareholders in fiscal 2025, 82% of free cash flow. The diluted share count fell 0.3%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Carter's 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 −$80.1M and divides by 35.4M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 6.1x · peers 14.0x · sector 17.9x.

Balance sheet

Cash, debt and the ratios that show how comfortably Carter's can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $984M$212M$351M$413M$487M
Debt incl. finance leases $991M$617M$497M$498M$567M
Net debt / EBITDA 0.0x0.9x0.4x0.3x0.4x
Debt / equity 1.0x0.8x0.6x0.6x0.6x
Interest coverage 8.2x8.9x9.5x8.1x4.2x
Current ratio 2.7x2.3x2.2x2.3x2.5x
Quick ratio 1.8x0.8x1.1x1.3x1.4x
Total assets $3.2B$2.4B$2.4B$2.4B$2.6B
Total liabilities $2.2B$1.6B$1.5B$1.6B$1.6B
Shareholders' equity $950M$796M$845M$855M$925M
Net debt (− = net cash) $7.1M$405M$146M$85.2M$80.1M

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

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

No open-market insider trades in the last 12 months.

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
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 8 / 96 / 95 / 9
Accruals ratio −12.3%−4.7%−1.2%
Altman Z'' 4.314.184.11

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Carter's CRI $1.2B 1.9% 5.0% 2.4% 11.9% 6.1x 5
G-III Apparel Group GIII $1.3B −7.0% 3.7% 8.9% 4.6% 9.7x 6 Compare →
Kontoor Brands KTB $4.2B 20.9% 10.7% 13.8% 21.2% 15.9x 6 Compare →
Columbia Sportswear COLM $3.1B 0.9% 6.1% 6.4% 17.0% 16.0x 5 Compare →
Capri Holdings CPRI $1.8B −4.1% 0.7% 0.4% 1.6% 12.2x 7 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $3.2B $3.4B $3.5B $3.5B $3.0B $3.5B $3.2B $2.9B $2.8B $2.9B
Gross profit $1.4B $1.5B $1.5B $1.5B $1.3B $1.7B $1.5B $1.4B $1.4B $1.3B
Operating income $426M $420M $391M $372M $190M $497M $379M $323M $255M $144M
Interest expense $27.0M $30.0M $34.6M $37.6M $56.1M $60.3M $42.8M $34.0M $31.3M $34.2M
Pretax income $395M $391M $356M $328M $135M $438M $317M $302M $231M $114M
Income tax $138M $88.2M $73.9M $64.1M $25.3M $98.5M $66.7M $69.7M $45.3M $22.0M
Net income $258M $303M $282M $264M $110M $340M $250M $233M $186M $91.8M
Diluted EPS $5.08 $6.24 $6.00 $5.85 $2.50 $7.81 $6.34 $6.24 $5.12 $2.53
Diluted shares 0.05B 0.05B 0.05B 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B
Cash flow
Cash from operations $369M $330M $356M $387M $589M $268M $88.4M $529M $299M $122M
Capital expenditure $88.6M $69.5M $63.8M $61.4M $32.9M $37.4M $40.4M $59.9M $56.2M $53.7M
Free cash flow $281M $260M $292M $326M $556M $231M $48.0M $469M $243M $68.6M
Depreciation and amortization $71.5M $81.8M $85.9M $92.2M $90.3M $90.4M $61.5M $60.4M $54.2M $51.5M
Stock-based compensation $16.8M $17.5M $14.7M $16.5M $12.8M $21.0M $21.9M $19.5M $17.8M $20.2M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $300M $189M $193M $197M $45.3M $299M $300M $100M $50.5M $0.0M
Dividends paid $66.4M $70.9M $83.7M $89.6M $26.3M $60.1M $118M $112M $116M $56.4M
Dividends and buybacks $367M $260M $277M $287M $71.5M $359M $418M $212M $167M $56.4M
Balance sheet
Cash and short-term investments $299M $179M $170M $214M $1.1B $984M $212M $351M $413M $487M
Total debt $580M $617M $593M $595M $990M $991M $617M $497M $498M $567M
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 $1.1B $1.0B $1.0B $1.1B $1.9B $1.9B $1.2B $1.1B $1.1B $1.3B
Current liabilities $278M $331M $327M $476M $793M $717M $529M $512M $509M $506M
Inventory $488M $549M $574M $594M $599M $648M $745M $537M $502M $545M
Property and equipment, net $386M $378M $350M $320M $262M $216M $190M $183M $181M $186M
Total assets $1.9B $2.1B $2.1B $2.8B $3.4B $3.2B $2.4B $2.4B $2.4B $2.6B
Total liabilities $1.2B $1.2B $1.2B $1.9B $2.5B $2.2B $1.6B $1.5B $1.6B $1.6B
Shareholders' equity $788M $857M $869M $880M $938M $950M $796M $845M $855M $925M
Margins
Gross margin 43.1% 43.6% 43.3% 42.9% 43.4% 47.7% 45.8% 47.4% 48.0% 45.4%
Operating margin 13.3% 12.3% 11.3% 10.6% 6.3% 14.3% 11.8% 11.0% 9.0% 5.0%
EBITDA margin 15.6% 14.7% 13.8% 13.2% 9.3% 16.9% 13.7% 13.0% 10.9% 6.7%
Net margin 8.1% 8.9% 8.2% 7.5% 3.6% 9.7% 7.8% 7.9% 6.5% 3.2%
FCF margin 8.8% 7.7% 8.5% 9.3% 18.4% 6.6% 1.5% 15.9% 8.5% 2.4%
Returns
Return on capital 25.9% 27.5% 24.0% 23.4% 14.8% 43.2% 27.7% 22.7% 21.2% 11.9%
Return on capital employed 25.0% 24.6% 22.6% 18.6% 7.8% 19.6% 17.3% 17.1% 13.4% 7.2%
Return on equity 31.0% 36.8% 32.7% 30.2% 12.1% 36.0% 28.6% 28.3% 21.8% 10.3%
Return on assets 13.1% 15.1% 13.7% 11.0% 3.6% 10.3% 8.9% 9.7% 7.7% 3.7%
Growth
Revenue growth 6.1% 6.3% 1.8% 1.7% −14.1% 15.3% −7.9% −8.3% −3.5% 1.9%
Net income growth 8.4% 17.5% −6.9% −6.5% −58.4% 209.7% −26.4% −7.0% −20.2% −50.5%
EPS growth 12.9% 22.8% −3.9% −2.5% −57.3% 212.4% −18.8% −1.6% −18.0% −50.6%
FCF growth 37.3% −7.3% 12.4% 11.4% 70.5% −58.5% −79.2% 877.7% −48.3% −71.7%
Share count change −3.7% −4.4% −3.1% −4.2% −2.9% −0.9% −9.7% −5.8% −2.9% −0.3%
Financial health
Net debt / EBITDA 0.6x 0.9x 0.9x 0.8x −0.4x 0.0x 0.9x 0.4x 0.3x 0.4x
Debt / equity 0.7x 0.7x 0.7x 0.7x 1.1x 1.0x 0.8x 0.6x 0.6x 0.6x
Interest coverage 15.8x 14.0x 11.3x 9.9x 3.4x 8.2x 8.9x 9.5x 8.1x 4.2x
Current ratio 3.8x 3.1x 3.2x 2.3x 2.5x 2.7x 2.3x 2.2x 2.3x 2.5x
Quick ratio 2.1x 1.4x 1.4x 1.1x 1.7x 1.8x 0.8x 1.1x 1.3x 1.4x
Capital allocation
Capex / revenue 2.8% 2.0% 1.8% 1.8% 1.1% 1.1% 1.3% 2.0% 2.0% 1.9%
Stock comp / revenue 0.5% 0.5% 0.4% 0.5% 0.4% 0.6% 0.7% 0.7% 0.6% 0.7%
Payouts / FCF 130.7% 99.8% 94.6% 87.9% 12.9% 155.7% 870.4% 45.2% 68.7% 82.1%
Quality scores
Piotroski F-score 8.0 7.0 6.0 6.0 6.0 7.0 4.0 8.0 6.0 5.0
Altman Z'' 6.2 5.7 5.8 4.0 3.9 4.9 4.4 4.3 4.2 4.1
Accruals ratio −5.7% −1.3% −3.6% −5.1% −15.6% 2.2% 5.8% −12.3% −4.7% −1.2%

Source: SEC EDGAR XBRL filings (CIK 0001060822). Data updated October 19, 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.

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