V.F. Corp Financials

VFC

Source SEC Filings (10-K/10-Q) Updated Dec 27, 2025 Currency USD FYE March

This page shows V.F. Corp (VFC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).

Financial Health Signals

Financial Profile 24/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

V.F. Corp has an operating margin of 3.2%, meaning the company retains $3 of operating profit per $100 of revenue. This below-average margin results in a low score of 16/100, suggesting thin profitability after operating expenses. This is up from -1.5% the prior year.

Growth

V.F. Corp's revenue declined 4.1% year-over-year, from $9.9B to $9.5B. This contraction results in a growth score of 17/100.

Leverage

V.F. Corp has elevated debt relative to equity (D/E of 2.29), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 26/100, reflecting increased financial risk.

Liquidity

V.F. Corp's current ratio of 1.40 indicates adequate short-term liquidity, earning a score of 36/100. The company can meet its near-term obligations, though with limited headroom.

Altman Z-Score Distress

1.69

V.F. Corp scores 1.69, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Strong

7/9

V.F. Corp passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

-2.45x

For every $1 of reported earnings, V.F. Corp generates $-2.45 in operating cash flow ($465.2M OCF vs -$189.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

1.7x

V.F. Corp earns $1.7 in operating income for every $1 of interest expense ($303.8M vs $174.1M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Revenue

$9.5B

YoY-4.1%

5Y CAGR-2.0%

10Y CAGR-1.8%

V.F. Corp generated $9.5B in revenue in fiscal year 2025. This represents a decrease of 4.1% from the prior year.

EBITDA

$563.4M

YoY+244.4%

5Y CAGR-14.0%

10Y CAGR-11.4%

V.F. Corp's EBITDA was $563.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 244.4% from the prior year.

Free Cash Flow

N/A

Net Income

-$189.7M

YoY+80.4%

V.F. Corp reported -$189.7M in net income in fiscal year 2025. This represents an increase of 80.4% from the prior year.

EPS (Diluted)

$0.18

YoY+106.9%

5Y CAGR-35.2%

V.F. Corp earned $0.18 per diluted share (EPS) in fiscal year 2025. This represents an increase of 106.9% from the prior year.

Cash & Debt

$429.4M

YoY-34.6%

5Y CAGR-20.7%

10Y CAGR-5.8%

V.F. Corp held $429.4M in cash against $3.4B in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.36

YoY-53.8%

5Y CAGR-28.3%

V.F. Corp paid $0.36 per share in dividends in fiscal year 2025. This represents a decrease of 53.8% from the prior year.

Shares Outstanding

390M

YoY+0.2%

5Y CAGR+0.0%

10Y CAGR-1.2%

V.F. Corp had 390M shares outstanding in fiscal year 2025. This represents an increase of 0.2% from the prior year.

Gross Margin

53.5%

YoY+1.9pp

5Y CAGR-1.8pp

10Y CAGR+5.4pp

V.F. Corp's gross margin was 53.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.9 percentage points from the prior year.

Operating Margin

3.2%

YoY+4.7pp

5Y CAGR-5.6pp

10Y CAGR-11.2pp

V.F. Corp's operating margin was 3.2% in fiscal year 2025, reflecting core business profitability. This is up 4.7 percentage points from the prior year.

Net Margin

-2.0%

YoY+7.8pp

5Y CAGR-8.5pp

10Y CAGR-12.6pp

V.F. Corp's net profit margin was -2.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 7.8 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

VFC Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$9.5B-4.1%	$9.9B-10.6%	$11.1B-6.4%	$11.8B+28.2%	$9.2B-11.9%	$10.5B
Cost of Revenue	$4.4B-8.0%	$4.8B-9.2%	$5.3B-1.7%	$5.4B+23.2%	$4.4B-6.8%	$4.7B
Gross Profit	$5.1B-0.6%	$5.1B-11.8%	$5.8B-10.2%	$6.5B+32.6%	$4.9B-16.0%	$5.8B
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$4.7B-1.2%	$4.7B-1.0%	$4.8B-0.5%	$4.8B+13.8%	$4.2B-6.8%	$4.5B
Operating Income	$303.8M+311.0%	-$143.9M-114.4%	$998.7M-38.8%	$1.6B+168.6%	$607.6M-34.5%	$927.8M
Interest Expense	$174.1M-28.9%	$245.0M+40.5%	$174.4M+27.8%	$136.5M+0.6%	$135.7M+47.4%	$92.0M
Income Tax	$75.8M-89.7%	$733.6M+4188.0%	-$17.9M-105.8%	$307.0M+202.2%	$101.6M+3.6%	$98.1M
Net Income	-$189.7M+80.4%	-$968.9M-917.0%	$118.6M-91.4%	$1.4B+240.0%	$407.9M-40.0%	$679.4M
EPS (Diluted)	$0.18+106.9%	$-2.62-234.4%	$1.95-37.1%	$3.10+240.7%	$0.91-42.0%	$1.57

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q3'23	Q2'23
Revenue	$2.9B+2.6%	$2.8B+59.2%	$1.8B-37.9%	$2.8B+2.8%	$2.8B+55.9%	$1.8B-36.4%	$2.8B-4.8%	$2.9B
Cost of Revenue	$1.2B-6.9%	$1.3B+65.1%	$811.7M-34.5%	$1.2B-6.0%	$1.3B+52.6%	$863.4M-31.5%	$1.3B-11.8%	$1.4B
Gross Profit	$1.6B+11.3%	$1.5B+54.1%	$949.0M-40.5%	$1.6B+10.7%	$1.4B+59.1%	$905.7M-40.4%	$1.5B+2.0%	$1.5B
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$1.3B+13.8%	$1.1B+11.0%	$1.0B-21.4%	$1.3B+13.0%	$1.2B+13.4%	$1.0B-24.0%	$1.4B+18.8%	$1.1B
Operating Income	$289.1M-7.5%	$312.6M+461.0%	-$86.6M-138.4%	$225.8M-17.6%	$273.9M+322.6%	-$123.0M-34.8%	-$91.2M-126.0%	$350.5M
Interest Expense	$39.7M-19.9%	$49.6M+13.7%	$43.6M+0.7%	$43.3M-6.5%	$46.4M+4.6%	$44.3M-34.4%	$67.5M+11.7%	$60.5M
Income Tax	$62.0M-21.0%	$78.5M+870.9%	-$10.2M-137.0%	$27.6M-1.7%	$28.0M+308.9%	-$13.4M+31.5%	-$19.6M-102.6%	$758.9M
Net Income	$300.8M+58.5%	$189.8M+263.0%	-$116.4M-169.4%	$167.8M+221.6%	$52.2M+120.2%	-$258.9M-509.8%	-$42.5M+90.6%	-$450.7M
EPS (Diluted)	$0.76+58.3%	$0.48+260.0%	$-0.30-169.8%	$0.43-17.3%	$0.52+233.3%	$-0.39-62.5%	$-0.24+79.3%	$-1.16

VFC Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$9.4B-19.2%	$11.6B-17.3%	$14.0B+6.3%	$13.2B-2.5%	$13.6B+21.7%	$11.1B
Current Assets	$3.8B-10.4%	$4.2B-18.9%	$5.2B+13.1%	$4.6B+1.0%	$4.6B-9.2%	$5.0B
Cash & Equivalents	$429.4M-34.6%	$656.4M-18.6%	$806.5M+52.7%	$528.0M-58.6%	$1.3B-6.9%	$1.4B
Inventory	$1.6B-4.2%	$1.7B-39.1%	$2.8B+19.0%	$2.3B+92.4%	$1.2B-6.0%	$1.3B
Accounts Receivable	$1.3B+4.6%	$1.3B+4.0%	$1.2B-2.8%	$1.2B+9.7%	$1.1B-12.9%	$1.3B
Goodwill	$603.4M-6.5%	$645.4M-67.3%	$2.0B-16.4%	$2.4B-2.8%	$2.4B+110.0%	$1.2B
Total Liabilities	$7.9B-20.7%	$10.0B-12.1%	$11.3B+14.9%	$9.9B-4.1%	$10.3B+32.2%	$7.8B
Current Liabilities	$2.7B-22.0%	$3.5B-9.4%	$3.8B+10.2%	$3.5B+12.8%	$3.1B+1.6%	$3.0B
Long-Term Debt	$3.4B-27.2%	$4.7B-18.1%	$5.7B+28.1%	$4.5B-5.5%	$4.7B+82.8%	$2.6B
Total Equity	$1.5B-10.3%	$1.7B-39.0%	$2.7B-19.0%	$3.4B+2.4%	$3.3B-2.5%	$3.4B
Retained Earnings	-$1.2B-20.4%	-$974.6M-1505.7%	-$60.7M-132.1%	$188.8M-40.5%	$317.1M+4238.6%	$7.3M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q3'23	Q2'23
Total Assets	$10.4B-2.0%	$10.6B+4.9%	$10.2B-3.8%	$10.6B-13.6%	$12.2B+5.9%	$11.5B-8.5%	$12.6B-4.0%	$13.1B
Current Assets	$5.0B-2.7%	$5.1B+17.0%	$4.4B-12.9%	$5.0B-22.3%	$6.5B+48.5%	$4.3B-11.9%	$4.9B-5.9%	$5.2B
Cash & Equivalents	$1.5B+249.9%	$419.1M-34.8%	$642.4M-53.1%	$1.4B+178.2%	$492.2M-21.3%	$625.4M-35.9%	$975.9M+101.3%	$484.8M
Inventory	$1.7B-10.6%	$1.9B-13.1%	$2.1B+19.0%	$1.8B-13.8%	$2.1B+1.1%	$2.1B-1.6%	$2.1B-12.9%	$2.4B
Accounts Receivable	$1.4B-24.8%	$1.9B+60.5%	$1.2B-12.7%	$1.3B-26.2%	$1.8B+73.5%	$1.0B-19.6%	$1.3B-30.6%	$1.9B
Goodwill	$591.7M-4.7%	$620.6M0.0%	$620.8M-2.1%	$634.4M-2.7%	$651.9M+1.4%	$643.2M-28.8%	$904.0M-21.1%	$1.1B
Total Liabilities	$8.6B-5.7%	$9.2B+3.5%	$8.9B-0.2%	$8.9B-17.9%	$10.8B+6.5%	$10.2B-3.4%	$10.5B-3.9%	$10.9B
Current Liabilities	$3.2B-14.4%	$3.8B+9.3%	$3.4B+6.6%	$3.2B-35.2%	$5.0B+13.0%	$4.4B+10.3%	$4.0B+12.8%	$3.5B
Long-Term Debt	$3.6B+0.4%	$3.5B-0.5%	$3.6B-8.3%	$3.9B-3.6%	$4.0B+2.2%	$3.9B-17.1%	$4.8B-15.9%	$5.7B
Total Equity	$1.8B+20.7%	$1.5B+14.4%	$1.3B-23.1%	$1.7B+19.5%	$1.4B+1.3%	$1.4B-34.2%	$2.1B-4.6%	$2.2B
Retained Earnings	-$808.2M+27.0%	-$1.1B+14.5%	-$1.3B-26.9%	-$1.0B+13.9%	-$1.2B+4.1%	-$1.2B-122.2%	-$556.3M-8.3%	-$513.5M

VFC Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$465.2M-54.1%	$1.0B+254.7%	-$655.8M-175.9%	$864.3M-34.2%	$1.3B+50.2%	$874.5M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$1.4B+929.0%	-$172.3M+8.4%	-$188.1M-120.8%	$903.7M+131.2%	-$2.9B-858.7%	-$302.0M
Financing Cash Flow	-$2.1B-123.6%	-$959.6M-306.9%	$463.9M+136.6%	-$1.3B-220.5%	$1.1B+239.9%	$309.7M
Dividends Paid	$140.2M-53.8%	$303.1M-56.9%	$702.8M-9.1%	$773.2M+2.2%	$756.8M+1.1%	$748.7M
Share Buybacks	N/A	$0	$0-100.0%	$350.0M	$0-100.0%	$1.0B

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q3'23	Q2'23
Operating Cash Flow	$1.0B+545.1%	-$227.0M-56.1%	-$145.5M-115.8%	$918.1M+404.4%	-$301.6M-1620.9%	$19.8M-98.2%	$1.1B+715.3%	-$182.8M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$547.7M+1434.2%	-$41.1M+16.2%	-$49.0M-103.3%	$1.5B+15109.8%	-$9.8M+11.6%	-$11.1M+73.8%	-$42.3M+28.6%	-$59.2M
Financing Cash Flow	-$527.7M-939.1%	$62.9M-81.4%	$339.0M+122.8%	-$1.5B-1009.1%	$163.4M+536.4%	-$37.4M+93.9%	-$609.9M-1029.0%	-$54.0M
Dividends Paid	$35.2M+0.1%	$35.2M0.0%	$35.1M+0.3%	$35.0M0.0%	$35.0M+0.1%	$35.0M+0.1%	$35.0M-70.0%	$116.6M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

VFC Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	53.5%+1.9pp	51.6%-0.7pp	52.3%-2.2pp	54.5%+1.8pp	52.7%-2.6pp	55.3%
Operating Margin	3.2%+4.7pp	-1.5%-10.5pp	9.0%-4.8pp	13.8%+7.2pp	6.6%-2.3pp	8.8%
Net Margin	-2.0%+7.8pp	-9.8%-10.8pp	1.1%-10.6pp	11.7%+7.3pp	4.4%-2.1pp	6.5%
Return on Equity	N/A	N/A	4.4%-37.0pp	41.4%+28.9pp	12.5%-7.8pp	20.2%
Return on Assets	-2.0%+6.3pp	-8.3%-9.2pp	0.8%-9.7pp	10.5%+7.5pp	3.0%-3.1pp	6.1%
Current Ratio	1.40+0.2	1.22-0.1	1.37+0.0	1.33-0.2	1.49-0.2	1.66
Debt-to-Equity	2.29-0.5	2.83+0.7	2.11+0.8	1.33-0.1	1.44+0.7	0.77
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q3'23	Q2'23
Gross Margin	56.6%+4.4pp	52.2%-1.7pp	53.9%-2.4pp	56.3%+4.1pp	52.2%+1.0pp	51.2%-3.4pp	54.6%+3.6pp	51.0%
Operating Margin	10.1%-1.1pp	11.2%+16.1pp	-4.9%-12.9pp	8.0%-2.0pp	9.9%+16.9pp	-7.0%-3.7pp	-3.3%-15.3pp	12.0%
Net Margin	10.5%+3.7pp	6.8%+13.4pp	-6.6%-12.5pp	5.9%+4.0pp	1.9%+16.5pp	-14.6%-13.1pp	-1.5%+13.9pp	-15.4%
Return on Equity	16.9%+4.0pp	12.8%	N/A	10.0%+6.3pp	3.7%	N/A	N/A	N/A
Return on Assets	2.9%+1.1pp	1.8%+2.9pp	-1.1%-2.7pp	1.6%+1.2pp	0.4%+2.7pp	-2.2%-1.9pp	-0.3%+3.1pp	-3.4%
Current Ratio	1.55+0.2	1.36+0.1	1.27-0.3	1.56+0.3	1.30+0.3	0.99-0.2	1.23-0.2	1.48
Debt-to-Equity	1.99-0.4	2.40-0.4	2.76+0.4	2.31-0.6	2.86+0.0	2.84+0.6	2.25-0.3	2.56
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is V.F. Corp's annual revenue?

V.F. Corp (VFC) reported $9.5B 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 V.F. Corp's revenue growing?

V.F. Corp (VFC) revenue declined by 4.1% year-over-year, from $9.9B to $9.5B in fiscal year 2025.

Is V.F. Corp profitable?

No, V.F. Corp (VFC) reported a net income of -$189.7M in fiscal year 2025, with a net profit margin of -2.0%.

What is V.F. Corp's earnings per share (EPS)?

V.F. Corp (VFC) reported diluted earnings per share of $0.18 for fiscal year 2025. This represents a 106.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is V.F. Corp's EBITDA?

V.F. Corp (VFC) had EBITDA of $563.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does V.F. Corp have?

As of fiscal year 2025, V.F. Corp (VFC) had $429.4M in cash and equivalents against $3.4B in long-term debt.

What is V.F. Corp's gross margin?

V.F. Corp (VFC) had a gross margin of 53.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is V.F. Corp's operating margin?

V.F. Corp (VFC) had an operating margin of 3.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is V.F. Corp's net profit margin?

V.F. Corp (VFC) had a net profit margin of -2.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does V.F. Corp pay dividends?

Yes, V.F. Corp (VFC) paid $0.36 per share in dividends during fiscal year 2025.

What is V.F. Corp's operating cash flow?

V.F. Corp (VFC) generated $465.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are V.F. Corp's total assets?

V.F. Corp (VFC) had $9.4B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does V.F. Corp have outstanding?

V.F. Corp (VFC) had 390M shares outstanding as of fiscal year 2025.

What is V.F. Corp's current ratio?

V.F. Corp (VFC) had a current ratio of 1.40 as of fiscal year 2025, which is considered adequate.

What is V.F. Corp's debt-to-equity ratio?

V.F. Corp (VFC) had a debt-to-equity ratio of 2.29 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is V.F. Corp's return on assets (ROA)?

V.F. Corp (VFC) had a return on assets of -2.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is V.F. Corp's Altman Z-Score?

V.F. Corp (VFC) has an Altman Z-Score of 1.69, placing it in the Distress Zone (elevated 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 V.F. Corp's Piotroski F-Score?

V.F. Corp (VFC) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are V.F. Corp's earnings high quality?

V.F. Corp (VFC) has an earnings quality ratio of -2.45x, 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 V.F. Corp cover its interest payments?

V.F. Corp (VFC) has an interest coverage ratio of 1.7x, meaning it can struggle to 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 V.F. Corp?

V.F. Corp (VFC) scores 24 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.