Abercrombie & Fitch vs Burlington Stores
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KIRA’s take AI analyst
I put Abercrombie & Fitch and Burlington Stores side by side, using each one’s latest annual report. Here is what stands out:
- 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 21.7x against 14.2x for Abercrombie & Fitch.
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Abercrombie & Fitch
ANF
5/9
Net marginFCF marginReturn on capitalNet debt / EBITDAShare count change
Burlington Stores
BURL
4/9
Revenue growth5-year growthReturn on equityPiotroski F-score
Side by side
Best in the row
| Latest fiscal year | ANF FY25 | BURL FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.3B | $15.4B |
| 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 | 14.2x | 21.7x |
| Piotroski F-score | 5 | 7 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.

