PVH (PVH) financial statements
PVH reported revenue of $9.0B in fiscal 2026, up 1.0% a year over 9 years.
Net income was $25M and the operating margin 2.6%, against 9.6% in 2017.
Free cash flow was $538M, and the company returned $578M in net buybacks.
The diluted share count fell 40% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from PVH's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.2B | $8.9B | $9.7B | $9.9B | $7.1B | $9.2B | $9.0B | $9.2B | $8.7B | $9.0B |
| Cost of revenue | $3.8B | $4.0B | $4.3B | $4.5B | $3.4B | $3.8B | $3.9B | $3.9B | $3.5B | $3.8B |
| Gross profit | $4.4B | $4.9B | $5.3B | $5.4B | $3.8B | $5.3B | $5.1B | $5.4B | $5.1B | $5.1B |
| Selling, general and admin | $3.7B | $4.2B | $4.4B | $4.7B | $4.0B | $4.5B | $4.4B | $4.5B | $4.4B | $4.5B |
| Operating income | $789M | $632M | $892M | $559M | -$1.1B | $1.1B | $471M | $929M | $772M | $231M |
| Interest expense | $121M | $128M | $121M | $120M | $126M | $109M | $90M | $99M | $90M | $94M |
| Pre-tax income | $674M | $510M | $776M | $444M | -$1.2B | $973M | $388M | $841M | $706M | $151M |
| Income tax | $126M | -$26M | $31M | $29M | -$56M | $21M | $188M | $177M | $107M | $126M |
| Net income | $549M | $538M | $746M | $417M | -$1.1B | $952M | $200M | $664M | $598M | $25M |
| EPS (diluted) | $6.79 | $6.84 | $9.65 | $5.60 | -$15.96 | $13.25 | $3.03 | $10.76 | $10.56 | $0.52 |
| Diluted shares | 81M | 79M | 77M | 75M | 71M | 72M | 66M | 62M | 57M | 48M |
| Gross margin | 53.3% | 54.9% | 55.0% | 54.4% | 53.0% | 58.2% | 56.8% | 58.2% | 59.4% | 57.5% |
| Operating margin | 9.6% | 7.1% | 9.2% | 5.6% | -15.0% | 11.8% | 5.2% | 10.1% | 8.9% | 2.6% |
| Net margin | 6.7% | 6.0% | 7.7% | 4.2% | -15.9% | 10.4% | 2.2% | 7.2% | 6.9% | 0.3% |
Balance sheet
Fiscal years, from PVH's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $730M | $494M | $452M | $503M | $1.7B | $1.2B | $551M | $708M | $748M | $702M |
| Receivables | $616M | $658M | $778M | $741M | $642M | $745M | $924M | $793M | $851M | $995M |
| Inventory | $1.3B | $1.6B | $1.7B | $1.6B | $1.4B | $1.3B | $1.8B | $1.4B | $1.5B | $1.6B |
| Total current assets | $2.9B | $3.0B | $3.2B | $3.4B | $3.9B | $3.7B | $3.6B | $3.3B | $3.5B | $3.6B |
| Property, plant and equipment | $760M | $900M | $984M | $1.0B | $943M | $906M | $904M | $863M | $741M | $673M |
| Goodwill | $3.5B | $3.8B | $3.7B | $3.7B | $3.0B | $2.8B | $2.4B | $2.3B | $2.3B | $2.0B |
| Total assets | $11.1B | $11.9B | $11.9B | $13.6B | $13.3B | $12.4B | $11.8B | $11.2B | $11.0B | $11.7B |
| Total current liabilities | $1.6B | $1.9B | $1.9B | $2.4B | $2.6B | $2.8B | $2.8B | $2.8B | $2.7B | $2.4B |
| Long-term debt | $3.2B | $3.1B | $2.8B | $2.7B | $3.5B | $2.3B | $2.2B | $1.6B | $1.6B | $2.3B |
| Total liabilities | $6.3B | $6.3B | $6.0B | $7.8B | $8.6B | $7.1B | $6.8B | $6.1B | $5.9B | $6.9B |
| Shareholders' equity | $4.8B | $5.5B | $5.8B | $5.8B | $4.7B | $5.3B | $5.0B | $5.1B | $5.1B | $4.8B |
| Net debt | $2.5B | $2.6B | $2.4B | $2.2B | $1.9B | $1.1B | $1.7B | $1.5B | $1.3B | $1.6B |
Cash flow
Fiscal years, from PVH's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $903M | $644M | $852M | $1.0B | $698M | $1.1B | $39M | $969M | $741M | $680M |
| Capital spending | $247M | $358M | $380M | $345M | $227M | $268M | $290M | $245M | $159M | $142M |
| Free cash flow | $656M | $286M | $473M | $675M | $471M | $803M | -$251M | $725M | $582M | $538M |
| Stock-based compensation | $38M | $45M | $56M | $56M | $50M | $47M | $47M | $52M | $54M | $44M |
| Share buybacks (net) | -$322M | -$259M | -$325M | -$345M | -$117M | -$361M | -$419M | -$570M | -$525M | -$578M |
| Net borrowing | $390M | — | — | — | — | — | — | — | — | — |
| Free cash flow margin | 8.0% | 3.2% | 4.9% | 6.8% | 6.6% | 8.8% | -2.8% | 7.9% | 6.7% | 6.0% |
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Open PVH in InvestinglyQuestions
What was PVH's revenue in 2026?
$9.0B in fiscal 2026, from its 10-K filing.
How much free cash flow does PVH generate?
$538M in fiscal 2026 (operating cash flow minus capital spending).
From PVH's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.