PVH vs VF
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The short version
- VF is the larger business, with $9.6B of revenue in fiscal 2026 against $9.0B for PVH.
- PVH grew revenue faster (3.4%, against 1.1%).
- VF kept more of each dollar of sales as operating profit (6.0% operating margin, against 2.6%).
- VF earned a higher return on the capital invested in it (9.0%, against 1.8%).
| Latest fiscal year | PVH · FY25 | VFC · FY26 |
|---|---|---|
| Size | ||
| Market cap | $3.9B | $6.8B |
| Revenue | $9.0B | $9.6B |
| Free cash flow | $538M | $557M |
| Net income | $25.3M | $255M |
| Growth | ||
| Revenue growth | 3.4% | 1.1% |
| 5-year growth | 4.6% | 0.8% |
| Share count change | −14.5% | 0.8% |
| Profitability | ||
| Gross margin | 57.5% | 54.8% |
| Operating margin | 2.6% | 6.0% |
| Net margin | 0.3% | 2.7% |
| FCF margin | 6.0% | 5.8% |
| Return on capital | 1.8% | 9.0% |
| Return on equity | 0.5% | 15.3% |
| Balance sheet | ||
| Net debt | $1.6B | $2.7B |
| Net debt / EBITDA | 3.2x | 3.2x |
| Dividends and buybacks | $585M | $141M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 6 | 7 |
Revenue
FY17
PVH $8.9B
VFC $8.4B
FY18
PVH $9.7B
VFC —
FY19
PVH $9.9B
VFC $10.3B
FY20
PVH $7.1B
VFC $10.5B
FY21
PVH $9.2B
VFC $9.2B
FY22
PVH $9.0B
VFC $11.8B
FY23
PVH $9.2B
VFC $11.1B
FY24
PVH $8.7B
VFC $9.9B
FY25
PVH $9.0B
VFC $9.5B
FY26
PVH —
VFC $9.6B
PVH
VFC
Operating margin
FY17
PVH 7.1%
VFC 10.5%
FY18
PVH 9.2%
VFC —
FY19
PVH 5.6%
VFC 11.6%
FY20
PVH −15.0%
VFC 8.9%
FY21
PVH 11.8%
VFC 6.6%
FY22
PVH 5.2%
VFC 13.8%
FY23
PVH 10.1%
VFC 9.0%
FY24
PVH 8.9%
VFC −1.5%
FY25
PVH 2.6%
VFC 3.2%
FY26
PVH —
VFC 6.0%
PVH
VFC
Free cash flow
FY17
PVH $286M
VFC $1.3B
FY18
PVH $473M
VFC —
FY19
PVH $675M
VFC $1.4B
FY20
PVH $471M
VFC $586M
FY21
PVH $803M
VFC $1.1B
FY22
PVH −$251M
VFC $619M
FY23
PVH $725M
VFC −$808M
FY24
PVH $582M
VFC $879M
FY25
PVH $538M
VFC $379M
FY26
PVH —
VFC $557M
PVH
VFC
Return on capital
FY17
PVH 8.2%
VFC 7.3%
FY18
PVH 10.5%
VFC —
FY19
PVH 6.4%
VFC —
FY20
PVH −11.5%
VFC 12.8%
FY21
PVH 16.1%
VFC 7.2%
FY22
PVH 3.7%
VFC 17.3%
FY23
PVH 10.9%
VFC 12.2%
FY24
PVH 10.0%
VFC −1.5%
FY25
PVH 1.8%
VFC 2.5%
FY26
PVH —
VFC 9.0%
PVH
VFC
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.