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VF Corp VFC

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Stock XNYS Rating as of
$14.33 −0.08 (0.56%)
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As of Delayed Price Post-Trading: $14.29 −0.04

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VF Lacks a Competitive Edge, but Its Portfolio of Brands Should Bring Higher Sales and Margins

David Swartz

VF has built a portfolio of solid brands in multiple apparel categories, but we do not believe it has a competitive advantage. The North Face is a strong performer and VF’s largest brand (42% of fiscal 2026 sales), but we do not believe it is enough to provide a moat for VF. Meanwhile, Vans (22% of sales) has had four straight years of sales declines, Timberland (18%) has had minimal sales growth over the past decade, and VF’s other brands are too subscale to generate material sales or profits.

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Price vs Fair Value

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VFC is trading at a LOCK|%%gh# premium.
Price
$14.41
Fair Value
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Uncertainty
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1-Star Price
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5-Star Price
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Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Improving results for Vans is a major part of the Reinvent strategic plan. We think Vans can be fixed and that it has growth potential given its small share in the global sports-inspired apparel and footwear market, estimated at $171 billion in 2025 (Euromonitor).

Bears

Each of VF’s major brands has, to varying degrees, experienced inconsistent sales growth. In its industry, it is very difficult to boost margins while sales are flat or declining.

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Trading Information

Previous Close Price
$14.41
Day Range
$13.98–14.60
52-Week Range
$12.46–22.27
Bid/Ask
$14.05 / $14.35
Shares Outstanding
393.13M
Market Cap
$5.63B
Volume/Avg
9M / 7M

Key Statistics

Price/Earnings (Normalized)
17.79
Price/Sales
0.60
Dividend Yield (Trailing)
2.50%
Dividend Yield (Forward)
2.50%
Dividend Payment Schedule
Mar, Jun, Sep, Dec
Total Yield
2.50%

Company Profile

VF designs, produces, and distributes apparel, footwear, and accessories with a focus on active and outdoor brands. Its portfolio of 10 labels includes Vans, The North Face, Timberland, and Altra. VF markets its products in the Americas, Europe, and Asia-Pacific through wholesale sales to retailers, e-commerce, and company-owned and partner-owned branded stores. Tracing its roots to 1899, VF has evolved into its present form through many brand acquisitions and divestitures.
Sector
Consumer Cyclical
Industry
Apparel Manufacturing
Stock Style Box
Small Value
Total Number of Employees
26,000
Website
https://www.vfc.com

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Valuation

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Metric
VFC
PVH
UAA
Price/Earnings (Normalized)
 17.797.1830.27
Price/Book Value
 3.210.731.40
Price/Sales
 0.600.400.40
Price/Cash Flow
 4.934.5978.33
Price/Earnings
VFC
PVH
UAA

Financial Strength

Metric
VFC
PVH
UAA
Quick Ratio
 0.640.790.80
Current Ratio
 1.431.651.81
Interest Coverage
 3.213.99−3.51
Quick Ratio
VFC
PVH
UAA

Profitability

Metric
VFC
PVH
UAA
Return on Assets (Normalized)
 3.65%5.02%1.35%
Return on Equity (Normalized)
 22.34%11.92%3.87%
Return on Invested Capital (Normalized)
 6.67%6.94%2.75%
Return on Assets
VFC
PVH
UAA

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LOCK|$m%J<rLOCK|T?H$3B
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LOCK|!hWzF<>LOCK|!F$2B

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