PVH vs Ralph Lauren
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The short version
- PVH is the larger business, with $9.0B of revenue in fiscal 2025 against $8.1B for Ralph Lauren.
- Ralph Lauren grew revenue faster (14.6%, against 3.4%).
- Ralph Lauren kept more of each dollar of sales as operating profit (14.5% operating margin, against 2.6%).
- Ralph Lauren turned more of its sales into free cash flow (9.2% FCF margin, against 6.0%).
- Ralph Lauren earned a higher return on the capital invested in it (45.4%, against 1.8%).
| Latest fiscal year | PVH · FY25 | RL · FY26 |
|---|---|---|
| Size | ||
| Market cap | $3.9B | $23.1B |
| Revenue | $9.0B | $8.1B |
| Free cash flow | $538M | $746M |
| Net income | $25.3M | $941M |
| Growth | ||
| Revenue growth | 3.4% | 14.6% |
| 5-year growth | 4.6% | 13.0% |
| Share count change | −14.5% | −2.7% |
| Profitability | ||
| Gross margin | 57.5% | 69.9% |
| Operating margin | 2.6% | 14.5% |
| Net margin | 0.3% | 11.6% |
| FCF margin | 6.0% | 9.2% |
| Return on capital | 1.8% | 45.4% |
| Return on equity | 0.5% | 34.7% |
| Balance sheet | ||
| Net debt | $1.6B | −$593M |
| Net debt / EBITDA | 3.2x | −0.4x |
| Dividends and buybacks | $585M | $840M |
| Valuation & quality | ||
| P/E | — | 23.8x |
| Piotroski F-score | 6 | 8 |
Revenue
FY17
PVH $8.9B
RL $6.7B
FY18
PVH $9.7B
RL $6.2B
FY19
PVH $9.9B
RL $6.3B
FY20
PVH $7.1B
RL $6.2B
FY21
PVH $9.2B
RL $4.4B
FY22
PVH $9.0B
RL $6.2B
FY23
PVH $9.2B
RL $6.4B
FY24
PVH $8.7B
RL $6.6B
FY25
PVH $9.0B
RL $7.1B
FY26
PVH —
RL $8.1B
PVH
RL
Operating margin
FY17
PVH 7.1%
RL −1.4%
FY18
PVH 9.2%
RL 8.1%
FY19
PVH 5.6%
RL 8.9%
FY20
PVH −15.0%
RL 5.2%
FY21
PVH 11.8%
RL −1.0%
FY22
PVH 5.2%
RL 12.8%
FY23
PVH 10.1%
RL 10.9%
FY24
PVH 8.9%
RL 11.4%
FY25
PVH 2.6%
RL 13.2%
FY26
PVH —
RL 14.5%
PVH
RL
Free cash flow
FY17
PVH $286M
RL $669M
FY18
PVH $473M
RL $814M
FY19
PVH $675M
RL $586M
FY20
PVH $471M
RL $484M
FY21
PVH $803M
RL $273M
FY22
PVH −$251M
RL $549M
FY23
PVH $725M
RL $194M
FY24
PVH $582M
RL $905M
FY25
PVH $538M
RL $1.0B
FY26
PVH —
RL $746M
PVH
RL
Return on capital
FY17
PVH 8.2%
RL −2.5%
FY18
PVH 10.5%
RL 10.9%
FY19
PVH 6.4%
RL 19.5%
FY20
PVH −11.5%
RL 15.2%
FY21
PVH 16.1%
RL −1.8%
FY22
PVH 3.7%
RL 33.5%
FY23
PVH 10.9%
RL 24.9%
FY24
PVH 10.0%
RL 28.4%
FY25
PVH 1.8%
RL 36.5%
FY26
PVH —
RL 45.4%
PVH
RL
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.