Abercrombie & Fitch vs Burlington Stores
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The short version
- Burlington Stores is the larger business, with $11.6B of revenue in fiscal 2025 against $5.3B for Abercrombie & Fitch, about 2.2 times as much.
- Burlington Stores grew revenue faster (8.8%, against 6.4%).
- Abercrombie & Fitch turned more of its sales into free cash flow (7.2% FCF margin, against 1.5%).
- Abercrombie & Fitch earned a higher return on the capital invested in it (91.0%, against 28.1%).
- Investors pay more for each dollar of Burlington Stores’s earnings: a P/E of 22.2x against 13.4x for Abercrombie & Fitch.
| Latest fiscal year | ANF · FY25 | BURL · FY25 |
|---|---|---|
| Size | ||
| Market cap | $6.9B | $15.8B |
| Revenue | $5.3B | $11.6B |
| Free cash flow | $378M | $172M |
| Net income | $507M | $610M |
| Growth | ||
| Revenue growth | 6.4% | 8.8% |
| 5-year growth | 11.0% | 15.0% |
| Share count change | −8.5% | −0.7% |
| Profitability | ||
| Gross margin | — | 43.9% |
| Operating margin | 13.3% | — |
| Net margin | 9.6% | 5.3% |
| FCF margin | 7.2% | 1.5% |
| Return on capital | 91.0% | 28.1% |
| Return on equity | 37.0% | 38.4% |
| Balance sheet | ||
| Net debt | −$785M | $818M |
| Net debt / EBITDA | −0.9x | 0.6x |
| Dividends and buybacks | $451M | $278M |
| Valuation & quality | ||
| P/E | 13.4x | 22.2x |
| Piotroski F-score | 5 | 7 |
Revenue
FY16
ANF $3.3B
BURL $5.6B
FY17
ANF $3.5B
BURL $6.1B
FY18
ANF $3.6B
BURL $6.7B
FY19
ANF $3.6B
BURL $7.3B
FY20
ANF $3.1B
BURL $5.8B
FY21
ANF $3.7B
BURL $9.3B
FY22
ANF $3.7B
BURL $8.7B
FY23
ANF $4.3B
BURL $9.7B
FY24
ANF $4.9B
BURL $10.6B
FY25
ANF $5.3B
BURL $11.6B
ANF
BURL
Operating margin
FY16
ANF 0.5%
BURL —
FY17
ANF 2.1%
BURL —
FY18
ANF 3.6%
BURL —
FY19
ANF 1.9%
BURL —
FY20
ANF −0.7%
BURL —
FY21
ANF 9.2%
BURL —
FY22
ANF 2.5%
BURL —
FY23
ANF 11.3%
BURL —
FY24
ANF 15.0%
BURL —
FY25
ANF 13.3%
BURL —
ANF
BURL
Free cash flow
FY16
ANF $44.3M
BURL $428M
FY17
ANF $181M
BURL $339M
FY18
ANF $201M
BURL $344M
FY19
ANF $97.9M
BURL $563M
FY20
ANF $303M
BURL −$54.1M
FY21
ANF $181M
BURL $481M
FY22
ANF −$167M
BURL $149M
FY23
ANF $496M
BURL $376M
FY24
ANF $527M
BURL −$17.0M
FY25
ANF $378M
BURL $172M
ANF
BURL
Return on capital
FY16
ANF 1.6%
BURL 22.9%
FY17
ANF 4.0%
BURL 41.3%
FY18
ANF 8.1%
BURL 40.2%
FY19
ANF 5.1%
BURL 43.1%
FY20
ANF −3.9%
BURL −26.3%
FY21
ANF —
BURL 36.7%
FY22
ANF 11.5%
BURL 20.0%
FY23
ANF 78.3%
BURL 27.0%
FY24
ANF 132.7%
BURL 30.9%
FY25
ANF 91.0%
BURL 28.1%
ANF
BURL
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.