Abercrombie & Fitch vs Buckle
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KIRA’s take AI analyst
I put Abercrombie & Fitch and Buckle side by side, using each one’s latest annual report. Here is what stands out:
- Abercrombie & Fitch is the larger business, with $5.3B of revenue in fiscal 2025 against $1.3B for Buckle, about 4.1 times as much.
- Buckle kept more of each dollar of sales as operating profit (20.1% operating margin, against 13.3%).
- Buckle turned more of its sales into free cash flow (15.9% FCF margin, against 7.2%).
- Investors pay more for each dollar of Abercrombie & Fitch’s earnings: a P/E of 14.2x against 10.7x for Buckle.
Who comes out ahead
Of the 7 measures where higher (or lower) is clearly better, how many each company leads.
Abercrombie & Fitch
ANF
2/7
5-year growthShare count change
Buckle
BKE
5/7
Revenue growthOperating marginNet marginFCF marginReturn on equity
Side by side
Best in the row
| Latest fiscal year | ANF FY25 | BKE FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.3B | $2.4B |
| Revenue | $5.3B | $1.3B |
| Free cash flow | $378M | $206M |
| Net income | $507M | $210M |
| Growth | ||
| Revenue growth | 6.4% | 6.6% |
| 5-year growth | 11.0% | 7.6% |
| Share count change | −8.5% | 0.8% |
| Profitability | ||
| Gross margin | — | 49.0% |
| Operating margin | 13.3% | 20.1% |
| Net margin | 9.6% | 16.2% |
| FCF margin | 7.2% | 15.9% |
| Return on capital | 91.0% | — |
| Return on equity | 37.0% | 49.4% |
| Balance sheet | ||
| Net debt | −$785M | — |
| Net debt / EBITDA | −0.9x | — |
| Dividends and buybacks | $451M | $225M |
| Valuation & quality | ||
| P/E | 14.2x | 10.7x |
| Piotroski F-score | 5 | — |
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.

