Levi Strauss & Co. Financials
This page shows Levi Strauss & Co. (LEVI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Levi’s earnings engine in FY2025 was a margin-led rebound, with modest sales growth producing a much larger profit recovery.
FY2024 was the more cash-generative year, with operating cash flow of$898.4M and free cash flow of$670.9M exceeding FY2025 despite lower earnings. Net income still rebounded to$578.1M from$210.6M , which implies working capital absorbed more cash as inventory and receivables rebuilt rather than letting the profit recovery flow straight through.
The striking FY2025 shift is how a small revenue increase produced a much larger profit jump: sales rose only
The balance sheet looks measured rather than debt-driven: cash of
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Levi Strauss & Co.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Levi Strauss & Co. has an operating margin of 10.8%, meaning the company retains $11 of operating profit per $100 of revenue. This results in a moderate score of 61/100, indicating healthy but not exceptional operating efficiency. This is up from 4.4% the prior year.
Levi Strauss & Co.'s revenue grew a modest 4.1% year-over-year to $6.3B. This slow but positive growth earns a score of 45/100.
Levi Strauss & Co. carries a low D/E ratio of 0.46, meaning only $0.46 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 68/100, indicating a strong balance sheet with room for future borrowing.
Levi Strauss & Co.'s current ratio of 1.55 indicates adequate short-term liquidity, earning a score of 42/100. The company can meet its near-term obligations, though with limited headroom.
Levi Strauss & Co. has a free cash flow margin of 4.9%, earning a moderate score of 53/100. The company generates positive cash flow after capital investments, but with room for improvement.
Levi Strauss & Co. earns a strong 25.4% return on equity (ROE), meaning it generates $25 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 68/100. This is up from 10.7% the prior year.
Levi Strauss & Co. scores 3.03, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Levi Strauss & Co. passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Levi Strauss & Co. generates $0.92 in operating cash flow ($529.6M OCF vs $578.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Levi Strauss & Co. earns $13.9 in operating income for every $1 of interest expense ($677.6M vs $48.6M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Levi Strauss & Co. generated $6.3B in revenue in fiscal year 2025. This represents an increase of 4.1% from the prior year.
Levi Strauss & Co.'s EBITDA was $883.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 93.9% from the prior year.
Levi Strauss & Co. reported $578.1M in net income in fiscal year 2025. This represents an increase of 174.5% from the prior year.
Levi Strauss & Co. earned $1.45 per diluted share (EPS) in fiscal year 2025. This represents an increase of 178.8% from the prior year.
Cash & Balance Sheet
Levi Strauss & Co. generated $308.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 54.1% from the prior year.
Levi Strauss & Co. held $757.9M in cash against $1.0B in long-term debt as of fiscal year 2025.
Levi Strauss & Co. paid $0.54 per share in dividends in fiscal year 2025. This represents an increase of 8.0% from the prior year.
Margins & Returns
Levi Strauss & Co.'s gross margin was 61.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.1 percentage points from the prior year.
Levi Strauss & Co.'s operating margin was 10.8% in fiscal year 2025, reflecting core business profitability. This is up 6.4 percentage points from the prior year.
Levi Strauss & Co.'s net profit margin was 9.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 5.7 percentage points from the prior year.
Levi Strauss & Co.'s ROE was 25.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 14.7 percentage points from the prior year.
Capital Allocation
Levi Strauss & Co. spent $30.5M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 66.1% from the prior year.
Levi Strauss & Co. invested $221.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 2.7% from the prior year.
LEVI Income Statement
| Metric | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.6B-11.5% | $1.8B+14.4% | $1.5B+1.1% | $1.5B-12.7% | $1.7B+21.3% | $1.4B+6.2% | $1.4B-8.2% | $1.5B |
| Cost of Revenue | $582.9M-15.9% | $693.0M+17.1% | $591.8M+2.2% | $579.2M-13.4% | $668.9M+17.5% | $569.2M+8.1% | $526.4M-13.8% | $610.4M |
| Gross Profit | $979.1M-8.7% | $1.1B+12.7% | $951.6M+0.4% | $947.6M-12.3% | $1.1B+23.7% | $873.9M+5.0% | $832.4M-4.3% | $869.8M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $843.4M-1.6% | $857.3M+10.5% | $775.6M+3.5% | $749.3M-12.2% | $853.0M+17.4% | $726.4M-4.0% | $756.4M0.0% | $756.1M |
| Operating Income | $122.2M-42.0% | $210.6M+25.8% | $167.4M-12.6% | $191.6M-8.1% | $208.5M+537.6% | $32.7M+56.5% | $20.9M+3383.3% | $600K |
| Interest Expense | $12.9M-3.7% | $13.4M+7.2% | $12.5M+14.7% | $10.9M-4.4% | $11.4M+12.9% | $10.1M-1.9% | $10.3M+3.0% | $10.0M |
| Income Tax | $27.4M-28.8% | $38.5M+12.6% | $34.2M-6.0% | $36.4M+130.4% | $15.8M+3260.0% | -$500K+91.9% | -$6.2M-226.3% | -$1.9M |
| Net Income | $87.3M-44.7% | $158.0M-27.6% | $218.1M+61.6% | $135.0M-26.0% | $182.5M+781.6% | $20.7M+15.0% | $18.0M+269.8% | -$10.6M |
| EPS (Diluted) | $0.22 | N/A | $0.55+61.8% | $0.34 | N/A | $0.05+25.0% | $0.04+233.3% | $-0.03 |
LEVI Balance Sheet
| Metric | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $6.6B-3.2% | $6.8B+2.9% | $6.7B-2.8% | $6.8B+7.4% | $6.4B+2.0% | $6.3B+1.1% | $6.2B+3.8% | $6.0B |
| Current Assets | $3.0B-5.9% | $3.2B+4.9% | $3.0B+13.4% | $2.7B-7.0% | $2.9B+3.8% | $2.7B+3.6% | $2.6B+5.0% | $2.5B |
| Cash & Equivalents | $849.3M+12.1% | $757.9M+23.7% | $612.8M+6.7% | $574.4M-16.8% | $690.0M+19.6% | $577.1M-10.0% | $641.4M+24.1% | $516.7M |
| Inventory | $1.2B-6.5% | $1.2B-3.8% | $1.3B+3.9% | $1.2B+9.4% | $1.1B-11.3% | $1.3B+4.5% | $1.2B+6.1% | $1.2B |
| Accounts Receivable | $586.2M-24.3% | $774.7M+7.2% | $722.9M+10.4% | $654.9M-7.8% | $710.0M+4.5% | $679.5M+16.8% | $581.8M-12.1% | $661.6M |
| Goodwill | $282.0M+0.5% | $280.6M+0.6% | $278.8M+0.9% | $276.2M-0.5% | $277.6M-1.1% | $280.8M-11.6% | $317.6M+7.3% | $296.1M |
| Total Liabilities | $4.4B-4.7% | $4.6B+1.7% | $4.5B+7.9% | $4.2B-5.5% | $4.4B+0.6% | $4.4B+3.5% | $4.2B+6.2% | $4.0B |
| Current Liabilities | $1.9B-8.8% | $2.0B+2.7% | $2.0B+11.9% | $1.8B-12.0% | $2.0B+3.3% | $1.9B+4.1% | $1.9B+5.6% | $1.8B |
| Long-Term Debt | $1.0B+0.4% | $1.0B-0.3% | $1.0B+5.6% | $987.4M-0.7% | $994.0M-2.6% | $1.0B+1.4% | $1.0B0.0% | $1.0B |
| Total Equity | $2.3B-0.3% | $2.3B+5.4% | $2.2B+6.3% | $2.0B+3.2% | $2.0B+5.2% | $1.9B-4.1% | $2.0B-1.1% | $2.0B |
| Retained Earnings | $1.9B0.0% | $1.9B+5.0% | $1.8B+4.7% | $1.7B+3.2% | $1.7B+6.4% | $1.6B-3.0% | $1.6B-2.8% | $1.7B |
LEVI Cash Flow Statement
| Metric | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $270.8M+1.5% | $266.8M+975.8% | $24.8M-52.8% | $52.5M-82.3% | $297.3M+468.5% | $52.3M-80.1% | $262.8M-8.1% | $286.0M |
| Capital Expenditures | $39.9M-21.9% | $51.1M-20.4% | $64.2M-3.6% | $66.6M+1.4% | $65.7M+31.4% | $50.0M+24.4% | $40.2M-43.9% | $71.6M |
| Free Cash Flow | $230.9M+7.0% | $215.7M+647.5% | -$39.4M-179.4% | -$14.1M-106.1% | $231.6M+9969.6% | $2.3M-99.0% | $222.6M+3.8% | $214.4M |
| Investing Cash Flow | -$77.8M-31.9% | -$59.0M-149.2% | $120.0M+268.8% | -$71.1M+20.0% | -$88.9M-75.0% | -$50.8M+27.1% | -$69.7M+2.8% | -$71.7M |
| Financing Cash Flow | -$56.8M+10.0% | -$63.1M+65.8% | -$184.7M-89.4% | -$97.5M-8.1% | -$90.2M-36.3% | -$66.2M+3.2% | -$68.4M+27.6% | -$94.5M |
| Dividends Paid | $53.9M-1.5% | $54.7M-1.3% | $55.4M+7.8% | $51.4M0.0% | $51.4M-0.2% | $51.5M+8.0% | $47.7M-0.4% | $47.9M |
| Share Buybacks | $0 | $0 | $0-100.0% | $30.0M-1.3% | $30.4M+70.8% | $17.8M+5.3% | $16.9M-32.4% | $25.0M |
LEVI Financial Ratios
| Metric | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 62.7%+1.9pp | 60.8%-0.9pp | 61.7%-0.4pp | 62.1%+0.3pp | 61.8%+1.2pp | 60.6%-0.7pp | 61.3%+2.5pp | 58.8% |
| Operating Margin | 7.8%-4.1pp | 11.9%+1.1pp | 10.8%-1.7pp | 12.6%+0.6pp | 11.9%+9.6pp | 2.3%+0.7pp | 1.5%+1.5pp | 0.0% |
| Net Margin | 5.6%-3.4pp | 8.9%-5.2pp | 14.1%+5.3pp | 8.8%-1.6pp | 10.4%+9.0pp | 1.4%+0.1pp | 1.3%+2.0pp | -0.7% |
| Return on Equity | 3.8%-3.1pp | 6.9%-3.1pp | 10.1%+3.4pp | 6.6%-2.6pp | 9.3%+8.2pp | 1.1%+0.2pp | 0.9%+1.5pp | -0.5% |
| Return on Assets | 1.3%-1.0pp | 2.3%-1.0pp | 3.3%+1.3pp | 2.0%-0.9pp | 2.9%+2.5pp | 0.3%+0.0pp | 0.3%+0.5pp | -0.2% |
| Current Ratio | 1.60+0.0 | 1.55+0.0 | 1.52+0.0 | 1.50+0.1 | 1.420.0 | 1.410.0 | 1.420.0 | 1.43 |
| Debt-to-Equity | 0.460.0 | 0.46-0.0 | 0.480.0 | 0.49-0.0 | 0.50-0.0 | 0.54+0.0 | 0.510.0 | 0.51 |
| FCF Margin | 14.8%+2.6pp | 12.2%+14.8pp | -2.5%-1.6pp | -0.9%-14.2pp | 13.2%+13.1pp | 0.2%-16.2pp | 16.4%+1.9pp | 14.5% |
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Frequently Asked Questions
What is Levi Strauss & Co.'s annual revenue?
Levi Strauss & Co. (LEVI) reported $6.3B in total revenue for fiscal year 2025. This represents a 4.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Levi Strauss & Co.'s revenue growing?
Levi Strauss & Co. (LEVI) revenue grew by 4.1% year-over-year, from $6.0B to $6.3B in fiscal year 2025.
Is Levi Strauss & Co. profitable?
Yes, Levi Strauss & Co. (LEVI) reported a net income of $578.1M in fiscal year 2025, with a net profit margin of 9.2%.
What is Levi Strauss & Co.'s EBITDA?
Levi Strauss & Co. (LEVI) had EBITDA of $883.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Levi Strauss & Co. have?
As of fiscal year 2025, Levi Strauss & Co. (LEVI) had $757.9M in cash and equivalents against $1.0B in long-term debt.
What is Levi Strauss & Co.'s gross margin?
Levi Strauss & Co. (LEVI) had a gross margin of 61.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Levi Strauss & Co.'s operating margin?
Levi Strauss & Co. (LEVI) had an operating margin of 10.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Levi Strauss & Co.'s net profit margin?
Levi Strauss & Co. (LEVI) had a net profit margin of 9.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Levi Strauss & Co. pay dividends?
Yes, Levi Strauss & Co. (LEVI) paid $0.54 per share in dividends during fiscal year 2025.
What is Levi Strauss & Co.'s return on equity (ROE)?
Levi Strauss & Co. (LEVI) has a return on equity of 25.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Levi Strauss & Co.'s free cash flow?
Levi Strauss & Co. (LEVI) generated $308.2M in free cash flow during fiscal year 2025. This represents a -54.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Levi Strauss & Co.'s operating cash flow?
Levi Strauss & Co. (LEVI) generated $529.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Levi Strauss & Co.'s total assets?
Levi Strauss & Co. (LEVI) had $6.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Levi Strauss & Co.'s capital expenditures?
Levi Strauss & Co. (LEVI) invested $221.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Levi Strauss & Co.'s current ratio?
Levi Strauss & Co. (LEVI) had a current ratio of 1.55 as of fiscal year 2025, which is generally considered healthy.
What is Levi Strauss & Co.'s debt-to-equity ratio?
Levi Strauss & Co. (LEVI) had a debt-to-equity ratio of 0.46 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Levi Strauss & Co.'s return on assets (ROA)?
Levi Strauss & Co. (LEVI) had a return on assets of 8.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Levi Strauss & Co.'s Altman Z-Score?
Levi Strauss & Co. (LEVI) has an Altman Z-Score of 3.03, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Levi Strauss & Co.'s Piotroski F-Score?
Levi Strauss & Co. (LEVI) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Levi Strauss & Co.'s earnings high quality?
Levi Strauss & Co. (LEVI) has an earnings quality ratio of 0.92x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Levi Strauss & Co. cover its interest payments?
Levi Strauss & Co. (LEVI) has an interest coverage ratio of 13.9x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Levi Strauss & Co.?
Levi Strauss & Co. (LEVI) scores 56 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.