VF (VFC) Financials

$11.26 +0.15 (+1.35%)

As of 04/14/2025 03:58 PM Eastern

Annual Income Statements for VF

This table shows VF's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	1,232	1,074	615	1,260	679	408	1,387	119	-969
Consolidated Net Income / (Loss)	1,232	1,074	615	1,260	679	408	1,387	119	-969
Net Income / (Loss) Continuing Operations	1,217	1,079	268	870	629	355	1,216	119	-969
Total Pre-Tax Income	1,564	1,285	788	1,038	727	456	1,523	43	-234
Total Operating Income	1,645	1,455	883	1,190	928	608	1,632	328	-34
Total Gross Profit	5,393	5,436	4,545	5,611	5,798	4,868	6,455	6,097	5,437
Total Revenue	10,996	11,026	8,395	10,267	10,489	9,239	11,842	11,612	10,455
Operating Revenue	10,996	11,026	8,395	10,267	10,489	9,239	11,842	11,612	10,455
Total Cost of Revenue	5,604	5,590	3,849	4,656	4,691	4,371	5,386	5,516	5,017
Operating Cost of Revenue	5,604	5,590	3,849	4,656	4,691	4,371	5,386	5,516	5,017
Total Operating Expenses	3,748	3,981	3,662	4,420	4,870	4,260	4,823	5,769	5,471
Selling, General & Admin Expense	3,748	3,901	3,662	4,420	4,547	4,240	4,823	5,034	4,964
Impairment Charge	0.00	80	0.00	0.00	323	20	0.00	735	508
Total Other Income / (Expense), net	-81	-171	-95	-152	-201	-151	-109	-284	-200
Interest Expense	89	95	102	108	152	136	140	174	245
Interest & Investment Income	7.15	9.18	13	15	20	9.16	5.01	9.76	22
Other Income / (Expense), net	1.03	-85	-6.52	-59	-69	-25	26	-120	24
Income Tax Expense	347	206	520	168	98	102	307	-75	735
Net Income / (Loss) Discontinued Operations	15	-4.75	347	389	50	53	171	0.00	0.00
Basic Earnings per Share	$2.90	$2.58	$1.54	$3.19	$1.72	$1.05	$3.55	$0.31	($2.49)
Weighted Average Basic Shares Outstanding	424.47M	416.10M	399.22M	395.19M	395.41M	389.66M	390.29M	387.76M	388.36M
Diluted Earnings per Share	$2.85	$2.54	$1.52	$3.15	$1.70	$1.04	$3.53	$0.31	($2.49)
Weighted Average Diluted Shares Outstanding	424.47M	422.08M	403.56M	400.50M	399.94M	392.12M	392.41M	388.37M	388.36M
Weighted Average Basic & Diluted Shares Outstanding	424.47M	414.09M	399.30M	394.90M	388.85M	392.15M	388.32M	388.68M	388.89M
Cash Dividends to Common per Share	$1.33	$1.53	$1.72	$1.94	$1.90	$1.94	$1.98	$1.81	$0.78

This table shows VF's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Net Income / (Loss) Attributable to Common Shareholders	-56	-118	508	-215	-57	-451	-42	-418	-259	52	168
Consolidated Net Income / (Loss)	-56	-118	508	-215	-57	-451	-42	-418	-259	52	168
Net Income / (Loss) Continuing Operations	-56	-118	508	-215	-57	-452	-92	-368	-259	203	169
Total Pre-Tax Income	-63	-134	456	-216	-62	307	-111	-367	-298	231	197
Total Operating Income	63	-91	516	-161	-8.99	351	-91	-284	-240	274	226
Total Gross Profit	1,219	1,582	1,938	1,358	1,101	1,490	1,519	1,327	992	1,441	1,595
Total Revenue	2,262	3,081	3,531	2,740	2,086	2,920	2,780	2,668	1,907	2,758	2,834
Operating Revenue	2,262	3,081	3,531	2,740	2,086	2,920	2,780	2,668	1,907	2,758	2,834
Total Cost of Revenue	1,043	1,498	1,593	1,382	985	1,430	1,261	1,341	916	1,317	1,239
Operating Cost of Revenue	1,043	1,498	1,593	1,382	985	1,430	1,261	1,341	916	1,317	1,239
Total Operating Expenses	1,155	1,673	1,422	1,519	1,110	1,139	1,610	1,612	1,232	1,167	1,369
Selling, General & Admin Expense	1,155	1,251	1,422	1,206	1,110	1,139	1,353	1,361	1,087	1,167	1,318
Impairment Charge	-	422	0.00	-	0.00	-	257	-	145	-	51
Total Other Income / (Expense), net	-126	-43	-60	-55	-53	-43	-20	-83	-58	-43	-29
Interest Expense	33	35	54	53	55	46	53	92	59	46	43
Interest & Investment Income	1.28	0.82	3.91	3.74	5.49	4.55	3.57	8.02	3.55	3.68	6.83
Other Income / (Expense), net	-95	-9.28	-9.90	-5.88	-3.57	-2.18	29	0.53	-1.95	-0.66	7.41
Income Tax Expense	-6.65	-16	-52	-1.11	-4.85	759	-20	0.76	-39	28	28
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	0.95	49	-	-	-150	-1.33
Basic Earnings per Share	($0.14)	($0.31)	$1.31	($0.55)	($0.15)	($1.16)	($0.11)	($1.07)	($0.67)	$0.13	$0.43
Weighted Average Basic Shares Outstanding	387.56M	387.69M	387.74M	387.76M	388.16M	388.34M	388.38M	388.36M	388.74M	389.04M	389.22M
Diluted Earnings per Share	($0.14)	($0.31)	$1.31	($0.55)	($0.15)	($1.16)	($0.11)	($1.07)	($0.67)	$0.13	$0.43
Weighted Average Diluted Shares Outstanding	387.56M	387.69M	388.19M	388.37M	388.16M	388.34M	388.38M	388.36M	388.74M	390.95M	393.91M
Weighted Average Basic & Diluted Shares Outstanding	388.49M	388.57M	388.66M	388.68M	388.87M	388.88M	388.82M	388.89M	389.18M	389.32M	389.57M
Cash Dividends to Common per Share	$0.50	$0.50	$0.51	$0.30	$0.30	$0.30	$0.09	$0.09	$0.09	$0.09	$0.09

This table details how cash moves in and out of VF's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-26	285	-662	-133	855	-560	426	-461	-139
Net Cash From Operating Activities	1,204	1,481	1,475	1,664	875	1,313	864	-656	1,015
Net Cash From Continuing Operating Activities	1,204	1,481	1,018	1,240	800	1,233	858	-656	1,015
Net Income / (Loss) Continuing Operations	1,232	1,074	268	870	629	355	1,216	119	-969
Consolidated Net Income / (Loss)	1,232	1,074	615	1,260	679	408	1,387	119	-969
Net Income / (Loss) Discontinued Operations	-	-	347	389	50	53	171	0.00	0.00
Depreciation Expense	272	282	238	256	268	269	267	262	319
Non-Cash Adjustments To Reconcile Net Income	-15	343	94	93	964	528	451	1,250	1,891
Changes in Operating Assets and Liabilities, net	-286	-218	417	21	-1,060	81	-1,076	-2,287	-227
Net Cash From Discontinued Operating Activities	-	-	457	424	74	80	6.09	0.00	0.00
Net Cash From Investing Activities	-323	-112	-776	-221	-302	-2,896	904	-188	-172
Net Cash From Continuing Investing Activities	-323	-112	-737	-177	-285	-2,892	904	-188	-172
Purchase of Property, Plant & Equipment	-318	-176	-140	-269	-288	-199	-245	-166	-146
Acquisitions	0.00	-44	-804	-320	-46	-2,085	-79	-95	-65
Sale of Property, Plant & Equipment	-	-	-	-	-	12	33	99	27
Divestitures	0.00	116	215	430	0.00	0.00	617	0.00	0.00
Sale and/or Maturity of Investments	-	-	-	0.00	0.00	200	599	0.00	0.00
Other Investing Activities, net	-5.04	-8.33	-7.45	18	49	-20	-19	-26	12
Net Cash From Discontinued Investing Activities	-	-	-39	-43	-17	-3.63	-0.53	0.00	0.00
Net Cash From Financing Activities	-840	-1,077	-1,363	-1,591	310	1,053	-1,269	464	-960
Net Cash From Continuing Financing Activities	-840	-1,077	-1,363	-1,589	310	1,053	-1,269	464	-960
Repayment of Debt	427	-441	-254	-870	-656	-23	-507	-508	-909
Repurchase of Common Equity	-733	-1,000	-1,200	-151	-1,000	0.00	-313	-2.79	-2.85
Payment of Dividends	-565	-636	-685	-767	-749	-757	-773	-703	-303
Issuance of Debt	0.00	1,001	686	-	1,653	1,778	324	1,734	255
Other Financing Activities, net	-	-	0.00	-	906	0.00	0.00	-57	0.00
Effect of Exchange Rate Changes	-67	-6.65	2.97	15	-27	-31	-73	-81	-22

This table details how cash moves in and out of VF's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Net Change in Cash & Equivalents	-748	25	19	243	-8.20	-308	489	-312	-37	-125	857
Net Cash From Operating Activities	-358	-556	80	178	164	-183	1,125	-91	20	-302	918
Net Cash From Continuing Operating Activities	-358	-556	80	178	164	-224	1,036	39	20	-322	911
Net Income / (Loss) Continuing Operations	-56	-118	508	-215	-57	-457	-92	-363	-259	309	169
Consolidated Net Income / (Loss)	-56	-118	508	-215	-57	-451	-42	-418	-259	52	168
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-	49	-56	-	-	-1.33
Depreciation Expense	67	64	62	70	67	70	86	96	68	59	60
Non-Cash Adjustments To Reconcile Net Income	213	553	85	400	116	1,017	347	411	239	-37	172
Changes in Operating Assets and Liabilities, net	-582	-1,054	-574	-77	38	-854	694	-105	-28	-652	510
Net Cash From Discontinued Operating Activities	-	-	-	-	-	-	89	-131	-	-	6.70
Net Cash From Investing Activities	-70	-62	-75	19	-91	-59	-42	20	-11	-9.77	1,467
Net Cash From Continuing Investing Activities	-70	-62	-75	19	-91	-55	-39	12	-11	-5.36	1,467
Purchase of Property, Plant & Equipment	-53	-37	-40	-36	-62	-32	-21	-31	-25	-21	-18
Acquisitions	-27	-21	-28	-20	-23	-18	-9.33	-15	-16	-9.62	-3.48
Sale of Property, Plant & Equipment	-	-	-	-	1.17	-0.89	0.10	26	46	31	11
Other Investing Activities, net	10	-3.93	-7.27	-25	-7.14	-3.88	-8.84	32	-15	-6.06	-8.60
Net Cash From Financing Activities	-261	670	9.96	45	-72	-54	-610	-224	-37	163	-1,486
Net Cash From Continuing Financing Activities	-261	670	9.96	45	-72	-54	-610	-224	-37	163	-1,486
Repayment of Debt	-500	-1.07	-0.28	-6.24	-0.61	-908	-0.27	-0.27	-0.28	-0.28	-1,000
Payment of Dividends	-194	-194	-198	-117	-117	-117	-35	-35	-35	-35	-35
Issuance of Debt	492	865	209	168	47	971	-574	-188	-0.23	199	-450
Effect of Exchange Rate Changes	-59	-27	3.38	1.69	-9.33	-12	16	-17	-8.34	23	-43

This table presents VF's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2019	2020	2021	2022	2023	2024
Total Assets	9,640	9,739	9,959	10,357	11,133	13,754	13,342	13,990	11,613
Total Current Assets	4,163	4,293	4,378	4,673	5,027	4,786	4,588	5,153	4,227
Cash & Equivalents	944	1,228	563	402	1,369	816	1,276	815	656
Accounts Receivable	1,290	1,149	1,430	1,373	1,308	1,298	1,468	1,610	1,263
Inventories, net	1,555	1,425	1,707	1,173	1,294	1,062	1,419	2,293	1,698
Other Current Assets	284	294	297	426	445	424	426	435	493
Other Current Nonoperating Assets	89	198	381	1,300	611	588	-	-	116
Plant, Property, & Equipment, net	945	896	1,015	876	0.00	0.00	1,042	942	789
Total Noncurrent Assets	4,531	4,550	4,566	4,807	6,106	8,968	7,712	7,895	6,597
Goodwill	1,788	1,555	1,693	1,492	1,156	2,425	2,394	1,978	645
Intangible Assets	1,949	1,534	2,090	1,907	1,855	3,030	3,000	2,643	1,776
Other Noncurrent Operating Assets	584	922	784	768	3,096	3,513	2,318	3,274	2,466
Other Noncurrent Nonoperating Assets	210	539	-	640	-	-	-	-	1,710
Total Liabilities & Shareholders' Equity	9,640	9,739	9,959	10,357	11,133	13,754	13,342	13,990	11,613
Total Liabilities	4,255	4,798	6,239	6,058	7,776	10,698	9,812	11,080	9,955
Total Current Liabilities	1,942	1,785	2,744	2,662	3,024	2,210	3,315	3,546	3,457
Short-Term Debt	453	280	736	664	1,230	12	837	936	1,265
Accounts Payable	681	620	761	490	407	463	563	936	788
Accrued Expenses	782	812	1,147	1,125	1,260	1,610	1,916	1,674	1,324
Other Current Nonoperating Liabilities	26	73	101	382	127	125	-	-	80
Total Noncurrent Liabilities	2,313	3,013	3,495	3,397	4,752	8,487	6,496	7,534	6,498
Long-Term Debt	1,402	2,039	2,188	2,116	2,608	5,709	4,584	5,711	4,702
Other Noncurrent Operating Liabilities	900	886	1,307	1,235	2,144	2,778	1,912	1,823	1,723
Other Noncurrent Nonoperating Liabilities	11	88	-	46	-	-	-	-	72
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5,385	4,941	3,720	4,299	3,357	3,056	3,530	2,911	1,658
Total Preferred & Common Equity	5,385	4,941	3,720	4,299	3,357	3,056	3,530	2,911	1,658
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	5,385	4,941	3,720	4,299	3,357	3,056	3,530	2,911	1,658
Common Stock	3,299	3,437	3,622	4,021	4,281	3,876	4,013	3,873	3,697
Retained Earnings	3,129	2,545	1,024	1,180	7.31	190	443	57	-975
Accumulated Other Comprehensive Income / (Loss)	-1,043	-1,041	-926	-902	-931	-1,009	-927	-1,020	-1,064

This table presents VF's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Total Assets	13,536	13,212	13,784	14,313	14,044	13,142	12,616	11,541	12,220	10,554
Total Current Assets	4,601	4,612	5,688	5,244	5,214	5,244	4,936	4,349	6,459	5,021
Cash & Equivalents	1,334	528	553	571	807	485	976	637	492	1,369
Accounts Receivable	1,496	1,250	1,835	1,565	1,214	1,882	1,306	1,056	1,820	1,343
Inventories, net	1,287	2,341	2,750	2,592	2,787	2,405	2,094	2,111	2,083	1,795
Other Current Assets	484	493	551	516	406	358	462	546	473	514
Other Current Nonoperating Assets	-	-	-	-	-	114	97	-	1,591	0.00
Plant, Property, & Equipment, net	1,050	1,008	984	933	943	886	881	794	756	718
Total Noncurrent Assets	7,886	7,592	7,112	8,137	7,887	7,013	6,799	6,398	5,005	4,814
Goodwill	2,409	2,360	2,103	2,142	1,974	1,146	904	1,361	652	634
Intangible Assets	3,011	2,984	2,776	2,791	2,641	1,779	1,785	2,572	1,775	1,707
Other Noncurrent Operating Assets	2,466	2,249	2,233	3,204	3,273	2,392	2,404	2,465	2,578	2,473
Other Noncurrent Nonoperating Assets	-	-	-	-	-	1,696	1,706	-	0.00	0.00
Total Liabilities & Shareholders' Equity	13,536	13,212	13,784	14,313	14,044	13,142	12,616	11,541	12,220	10,554
Total Liabilities	9,883	9,859	10,699	10,994	11,327	10,932	10,507	10,153	10,813	8,874
Total Current Liabilities	3,224	3,464	5,346	4,546	3,816	3,545	3,997	4,409	4,982	3,227
Short-Term Debt	607	828	2,525	1,812	987	1,024	1,453	2,013	2,213	763
Accounts Payable	560	1,023	1,022	906	1,282	962	950	1,158	1,135	1,008
Accrued Expenses	2,057	1,613	1,799	1,828	1,547	1,487	1,514	1,238	1,487	1,456
Other Current Nonoperating Liabilities	-	-	-	-	-	72	80	-	148	0.00
Total Noncurrent Liabilities	6,659	6,395	5,353	6,447	7,511	7,387	6,510	5,744	5,831	5,647
Long-Term Debt	4,646	4,468	3,526	4,617	5,722	5,657	4,755	3,941	4,029	3,885
Other Noncurrent Operating Liabilities	2,013	1,927	1,826	1,830	1,788	1,665	1,687	1,804	1,802	1,763
Other Noncurrent Nonoperating Liabilities	-	-	-	-	-	65	68	-	0.00	0.00
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,653	3,352	3,086	3,320	2,717	2,210	2,109	1,388	1,406	1,680
Total Preferred & Common Equity	3,653	3,352	3,086	3,320	2,717	2,210	2,109	1,388	1,406	1,680
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	3,653	3,352	3,086	3,320	2,717	2,210	2,109	1,388	1,406	1,680
Common Stock	3,982	4,039	4,050	3,863	3,831	3,735	3,717	3,677	3,663	3,652
Retained Earnings	609	189	-120	386	-61	-514	-556	-1,236	-1,186	-1,020
Accumulated Other Comprehensive Income / (Loss)	-937	-875	-844	-930	-1,054	-1,012	-1,051	-1,054	-1,071	-951

This table displays calculated financial ratios and metrics derived from VF's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-7.45%	0.27%	-23.87%	7.12%	0.00%	2.16%	-11.92%	28.17%	-1.94%	-9.97%
EBITDA Growth	-7.24%	-13.87%	-32.49%	8.54%	-22.65%	-18.75%	-24.38%	125.96%	-75.58%	-34.30%
EBIT Growth	-8.19%	-16.74%	-36.01%	9.64%	-24.72%	-24.04%	-32.15%	184.47%	-87.46%	-104.94%
NOPAT Growth	-8.16%	-4.49%	-75.41%	-36.97%	29.52%	-19.55%	-41.14%	175.86%	-31.12%	-102.66%
Net Income Growth	17.57%	-12.79%	-42.75%	-42.75%	0.00%	-46.07%	-39.97%	240.05%	-91.45%	-917.04%
EPS Growth	19.75%	-10.88%	-40.16%	-40.16%	0.00%	-46.03%	-38.82%	239.42%	-91.22%	-903.23%
Operating Cash Flow Growth	-31.69%	23.01%	-0.40%	-0.40%	0.00%	-47.45%	50.16%	-34.19%	-175.88%	254.71%
Free Cash Flow Firm Growth	-34.25%	33.71%	-102.41%	-87.85%	2,051.40%	-72.74%	-273.50%	148.67%	-132.11%	2,117.15%
Invested Capital Growth	-1.08%	-9.56%	6.30%	11.44%	-20.09%	3.42%	29.17%	11.23%	13.91%	-39.44%
Revenue Q/Q Growth	-8.15%	5.16%	-23.02%	-1.31%	-17.77%	4.17%	5.48%	2.09%	-0.73%	-0.68%
EBITDA Q/Q Growth	-7.35%	-7.44%	-28.40%	-7.66%	-26.27%	-21.15%	98.81%	4.33%	-43.76%	-22.71%
EBIT Q/Q Growth	-8.44%	-8.98%	-31.16%	-8.59%	-29.22%	-26.62%	286.00%	4.88%	-63.95%	-109.62%
NOPAT Q/Q Growth	-7.22%	-0.92%	-74.08%	-20.72%	-27.27%	-32.29%	195.52%	0.39%	37.08%	-138.09%
Net Income Q/Q Growth	18.25%	-4.27%	-36.57%	-20.62%	-6.00%	-47.41%	346.56%	-0.62%	-71.38%	-26.57%
EPS Q/Q Growth	16.80%	-6.27%	-35.59%	-16.02%	-5.41%	-47.21%	373.68%	-0.56%	-71.03%	-26.40%
Operating Cash Flow Q/Q Growth	5.14%	-3.30%	2.40%	-53.31%	35.69%	-18.21%	11.77%	-10.76%	14.45%	-20.95%
Free Cash Flow Firm Q/Q Growth	-24.29%	40.36%	-102.56%	-44.48%	153.46%	-47.05%	-220.90%	139.35%	82.14%	-3.68%
Invested Capital Q/Q Growth	-14.45%	-22.09%	-10.31%	-14.43%	-8.84%	-5.78%	39.93%	1.35%	-4.74%	-6.88%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	49.04%	49.30%	54.15%	50.51%	54.65%	55.28%	52.69%	54.51%	52.50%	52.01%
EBITDA Margin	17.44%	14.98%	13.28%	15.18%	13.51%	10.74%	9.22%	16.26%	4.05%	2.95%
Operating Margin	14.96%	13.20%	10.52%	12.81%	11.59%	8.85%	6.58%	13.78%	2.82%	-0.33%
EBIT Margin	14.97%	12.43%	10.45%	12.72%	11.02%	8.19%	6.31%	14.00%	1.79%	-0.10%
Profit (Net Income) Margin	11.20%	9.74%	7.33%	5.21%	12.27%	6.48%	4.41%	11.71%	1.02%	-9.27%
Tax Burden Percent	78.73%	83.61%	78.05%	43.41%	121.33%	93.43%	89.35%	91.05%	273.95%	414.61%
Interest Burden Percent	95.04%	93.76%	89.85%	94.28%	91.80%	84.64%	78.30%	91.85%	20.82%	2,273.86%
Effective Tax Rate	22.20%	16.02%	65.98%	49.09%	16.17%	13.48%	22.25%	20.15%	-173.95%	0.00%
Return on Invested Capital (ROIC)	21.10%	21.28%	5.34%	12.56%	17.16%	15.28%	7.72%	17.88%	10.94%	-0.34%
ROIC Less NNEP Spread (ROIC-NNEP)	12.47%	-4.19%	29.57%	6.16%	31.55%	6.63%	5.50%	19.98%	-4.68%	-20.30%
Return on Net Nonoperating Assets (RNNOA)	1.26%	-0.47%	8.86%	4.04%	6.36%	2.47%	5.00%	24.23%	-7.25%	-42.07%
Return on Equity (ROE)	22.36%	20.80%	14.20%	16.60%	23.52%	17.75%	12.72%	42.11%	3.68%	-42.41%
Cash Return on Invested Capital (CROIC)	22.18%	31.32%	-0.77%	1.74%	39.49%	11.92%	-17.74%	7.25%	-2.07%	48.78%
Operating Return on Assets (OROA)	16.89%	14.14%	8.90%	14.82%	10.92%	8.00%	4.68%	12.24%	1.52%	-0.08%
Return on Assets (ROA)	12.64%	11.09%	6.24%	6.07%	12.16%	6.32%	3.28%	10.24%	0.87%	-7.57%
Return on Common Equity (ROCE)	22.36%	20.80%	14.20%	16.60%	23.52%	17.75%	12.72%	42.11%	3.68%	-42.41%
Return on Equity Simple (ROE_SIMPLE)	22.87%	21.74%	16.53%	-	29.31%	20.24%	13.35%	39.29%	4.07%	-58.42%
Net Operating Profit after Tax (NOPAT)	1,280	1,222	301	770	998	803	472	1,303	898	-24
NOPAT Margin	11.64%	11.08%	3.58%	6.52%	9.72%	7.65%	5.11%	11.01%	7.73%	-0.23%
Net Nonoperating Expense Percent (NNEP)	8.63%	25.47%	-24.23%	6.40%	-14.39%	8.64%	2.22%	-2.09%	15.62%	19.96%
Return On Investment Capital (ROIC_SIMPLE)	17.68%	16.84%	4.52%	-	14.09%	11.16%	5.38%	14.56%	9.39%	-0.31%
Cost of Revenue to Revenue	50.96%	50.70%	45.85%	49.49%	45.35%	44.72%	47.31%	45.49%	47.50%	47.99%
SG&A Expenses to Revenue	34.08%	35.38%	43.62%	37.70%	43.05%	43.35%	45.89%	40.73%	43.35%	47.48%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	34.08%	36.10%	43.62%	37.70%	43.05%	46.43%	46.11%	40.73%	49.68%	52.33%
Earnings before Interest and Taxes (EBIT)	1,646	1,370	877	1,502	1,131	859	583	1,658	208	-10
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,918	1,652	1,115	1,793	1,387	1,127	852	1,925	470	309
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.53	3.28	5.94	6.90	6.22	5.73	8.82	5.55	2.87	3.52
Price to Tangible Book Value (P/TBV)	11.53	8.75	0.00	0.00	29.75	55.51	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.73	1.47	2.63	2.16	2.61	1.84	2.92	1.66	0.72	0.56
Price to Earnings (P/E)	15.43	15.09	35.94	41.40	21.24	28.33	66.10	14.13	70.54	0.00
Dividend Yield	2.98%	3.91%	3.08%	2.73%	2.87%	3.90%	2.82%	3.93%	8.41%	5.19%
Earnings Yield	6.48%	6.63%	2.78%	2.42%	4.71%	3.53%	1.51%	7.08%	1.42%	0.00%
Enterprise Value to Invested Capital (EV/IC)	3.30	3.17	4.22	4.41	5.64	4.07	4.53	3.09	1.62	2.11
Enterprise Value to Revenue (EV/Rev)	1.81	1.57	2.91	2.41	2.84	2.07	3.38	2.01	1.22	1.07
Enterprise Value to EBITDA (EV/EBITDA)	10.38	10.47	21.94	15.91	21.01	19.28	36.69	12.33	30.19	36.10
Enterprise Value to EBIT (EV/EBIT)	12.10	12.62	27.90	18.99	25.76	25.28	53.63	14.32	68.28	0.00
Enterprise Value to NOPAT (EV/NOPAT)	15.56	14.15	81.39	37.03	29.20	27.06	66.18	18.22	15.81	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	16.54	11.68	16.59	19.34	17.51	24.84	23.81	27.48	0.00	10.99
Enterprise Value to Free Cash Flow (EV/FCFF)	14.80	9.61	0.00	267.25	12.69	34.70	0.00	44.93	0.00	3.26
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.34	0.47	0.79	1.02	0.65	1.14	1.87	1.54	2.28	3.60
Long-Term Debt to Equity	0.26	0.41	0.59	0.60	0.49	0.78	1.87	1.30	1.96	2.84
Financial Leverage	0.10	0.11	0.30	0.66	0.20	0.37	0.91	1.21	1.55	2.07
Leverage Ratio	1.77	1.88	2.27	2.74	2.41	2.81	3.88	4.11	4.24	5.60
Compound Leverage Factor	1.68	1.76	2.04	2.58	2.21	2.38	3.04	3.78	0.88	127.42
Debt to Total Capital	25.62%	31.94%	44.00%	50.38%	39.28%	53.34%	65.18%	60.56%	69.55%	78.25%
Short-Term Debt to Total Capital	6.26%	3.85%	11.07%	20.61%	9.38%	17.09%	0.14%	9.35%	9.79%	16.59%
Long-Term Debt to Total Capital	19.36%	28.09%	32.93%	29.77%	29.89%	36.25%	65.04%	51.21%	59.75%	61.67%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	74.38%	68.06%	56.00%	49.62%	60.72%	46.66%	34.82%	39.44%	30.45%	21.75%
Debt to EBITDA	0.97	1.40	2.62	2.09	2.00	3.41	6.71	2.82	14.13	19.32
Net Debt to EBITDA	0.47	0.66	2.12	1.71	1.71	2.19	5.05	2.15	12.40	17.19
Long-Term Debt to EBITDA	0.73	1.23	1.96	1.23	1.53	2.31	6.70	2.38	12.14	15.22
Debt to NOPAT	1.45	1.90	9.73	4.86	2.79	4.78	12.11	4.16	7.40	-250.26
Net Debt to NOPAT	0.71	0.89	7.85	3.98	2.38	3.08	9.12	3.18	6.50	-222.73
Long-Term Debt to NOPAT	1.10	1.67	7.28	2.87	2.12	3.25	12.08	3.52	6.36	-197.22
Altman Z-Score	5.11	4.30	3.60	4.23	4.39	2.90	2.57	2.66	1.48	1.21
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.14	2.40	1.60	1.49	1.76	1.66	2.17	1.38	1.45	1.22
Quick Ratio	1.15	1.33	0.73	0.67	0.67	0.89	1.23	0.83	0.68	0.56
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,345	1,799	-43	107	2,296	626	-1,086	529	-170	3,424
Operating Cash Flow to CapEx	378.75%	842.00%	1,051.94%	869.73%	618.67%	303.46%	702.60%	405.95%	-987.26%	851.14%
Free Cash Flow to Firm to Interest Expense	15.16	18.99	-0.43	1.05	21.31	4.12	-8.01	3.77	-0.97	13.97
Operating Cash Flow to Interest Expense	13.56	15.63	14.46	14.46	15.45	5.76	9.68	6.17	-3.76	4.14
Operating Cash Flow Less CapEx to Interest Expense	9.98	13.77	13.09	12.80	12.95	3.86	8.30	4.65	-4.14	3.65
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.13	1.14	0.85	1.17	0.99	0.98	0.74	0.87	0.85	0.82
Accounts Receivable Turnover	8.57	9.04	6.51	8.32	7.48	7.83	7.09	8.56	7.55	7.28
Inventory Turnover	3.69	3.75	2.46	3.28	3.97	3.80	3.71	4.34	2.97	2.51
Fixed Asset Turnover	11.65	11.98	8.79	11.66	11.72	0.00	0.00	0.00	11.70	12.08
Accounts Payable Turnover	8.17	8.59	5.57	8.70	9.51	10.46	10.05	10.50	7.36	5.82
Days Sales Outstanding (DSO)	42.59	40.37	56.06	43.86	48.80	46.64	51.48	42.63	48.38	50.16
Days Inventory Outstanding (DIO)	98.95	97.29	148.46	111.41	91.96	95.99	98.36	84.04	122.80	145.15
Days Payable Outstanding (DPO)	44.66	42.47	65.48	41.96	38.38	34.89	36.34	34.77	49.61	62.74
Cash Conversion Cycle (CCC)	96.87	95.19	139.03	113.30	102.38	107.74	113.51	91.90	121.57	132.58
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,033	5,456	5,800	6,464	5,165	5,342	6,901	7,675	8,743	5,295
Invested Capital Turnover	1.81	1.92	1.49	1.93	1.77	2.00	1.51	1.62	1.41	1.49
Increase / (Decrease) in Invested Capital	-66	-577	344	664	-1,298	177	1,558	775	1,067	-3,448
Enterprise Value (EV)	19,913	17,298	24,462	28,523	29,136	21,719	31,266	23,748	14,197	11,153
Market Capitalization	19,002	16,207	22,102	25,460	26,758	19,250	26,959	19,603	8,365	5,842
Book Value per Share	$12.63	$11.94	$9.41	$9.14	$10.87	$8.51	$7.80	$9.08	$7.49	$4.27
Tangible Book Value per Share	$3.87	$4.48	($0.16)	($0.31)	$2.27	$0.88	($6.12)	($4.79)	($4.40)	($1.96)
Total Capital	7,240	7,260	6,643	7,432	7,079	7,195	8,777	8,951	9,558	7,625
Total Debt	1,855	2,319	2,923	3,744	2,780	3,838	5,721	5,421	6,647	5,967
Total Long-Term Debt	1,402	2,039	2,188	2,213	2,116	2,608	5,709	4,584	5,711	4,702
Net Debt	910	1,091	2,360	3,063	2,378	2,469	4,307	4,145	5,832	5,311
Capital Expenditures (CapEx)	318	176	140	170	269	288	187	213	66	119
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,730	1,560	1,806	2,395	2,274	1,864	1,173	833	1,728	1,378
Debt-free Net Working Capital (DFNWC)	2,674	2,787	2,369	3,076	2,676	3,233	2,587	2,109	2,543	2,035
Net Working Capital (NWC)	2,221	2,508	1,634	1,544	2,012	2,003	2,575	1,273	1,607	770
Net Nonoperating Expense (NNE)	48	148	-314	155	-262	123	65	-84	779	945
Net Nonoperating Obligations (NNO)	648	515	2,080	2,776	867	1,985	3,844	4,145	5,832	3,637
Total Depreciation and Amortization (D&A)	272	282	238	291	256	268	269	267	262	319
Debt-free, Cash-free Net Working Capital to Revenue	15.73%	14.14%	21.51%	20.28%	22.15%	17.77%	12.70%	7.04%	14.88%	13.18%
Debt-free Net Working Capital to Revenue	24.32%	25.28%	28.22%	26.04%	26.07%	30.82%	28.01%	17.81%	21.90%	19.46%
Net Working Capital to Revenue	20.20%	22.74%	19.46%	13.08%	19.60%	19.10%	27.88%	10.75%	13.84%	7.36%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.90	$2.58	$1.54	$1.54	$3.19	$1.72	$1.05	$3.55	$0.31	($2.49)
Adjusted Weighted Average Basic Shares Outstanding	424.47M	414.09M	396.69M	399.22M	395.19M	395.41M	389.66M	390.29M	387.76M	388.36M
Adjusted Diluted Earnings per Share	$2.85	$2.54	$1.52	$1.52	$3.15	$1.70	$1.04	$3.53	$0.31	($2.49)
Adjusted Weighted Average Diluted Shares Outstanding	424.47M	414.09M	396.69M	403.56M	400.50M	399.94M	392.12M	392.41M	388.37M	388.36M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$1.54	$3.19	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	424.47M	414.09M	396.69M	399.30M	397.15M	388.85M	392.15M	388.32M	388.68M	388.89M
Normalized Net Operating Profit after Tax (NOPAT)	1,280	1,289	618	770	998	1,082	488	1,303	744	331
Normalized NOPAT Margin	11.64%	11.69%	7.37%	6.52%	9.72%	10.32%	5.28%	11.01%	6.41%	3.17%
Pre Tax Income Margin	14.23%	11.65%	9.39%	11.99%	10.11%	6.93%	4.94%	12.86%	0.37%	-2.24%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	18.54	14.47	8.60	14.73	10.50	5.66	4.30	11.84	1.19	-0.04
NOPAT to Interest Expense	14.42	12.90	2.95	7.55	9.26	5.29	3.48	9.30	5.15	-0.10
EBIT Less CapEx to Interest Expense	14.96	12.61	7.22	13.07	8.00	3.76	2.92	10.32	0.81	-0.53
NOPAT Less CapEx to Interest Expense	10.84	11.05	1.57	5.89	6.76	3.39	2.10	7.78	4.77	-0.58
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	45.90%	59.21%	111.34%	111.34%	60.89%	110.19%	185.55%	55.75%	592.70%	-31.29%
Augmented Payout Ratio	105.38%	152.36%	306.55%	306.55%	72.85%	257.37%	185.55%	78.34%	595.06%	-31.58%

This table displays calculated financial ratios and metrics derived from VF's official financial filings.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	3.05%	-3.68%	-2.59%	-3.01%	-7.75%	-5.21%	-21.26%	-2.61%	-8.58%	-5.55%	1.93%
EBITDA Growth	-87.36%	-105.73%	-23.64%	-135.87%	53.99%	1,254.34%	-95.85%	-93.95%	-419.29%	-20.65%	1,144.09%
EBIT Growth	-114.79%	-117.68%	-25.39%	-182.53%	59.94%	448.01%	-112.30%	-70.20%	-1,825.65%	-21.56%	474.67%
NOPAT Growth	-74.56%	-113.04%	4.94%	-224.52%	-114.19%	-710.53%	-111.11%	-76.75%	-2,567.85%	146.69%	403.96%
Net Income Growth	-117.26%	-125.52%	-1.92%	-365.82%	-2.62%	-280.55%	-108.36%	-94.66%	-350.82%	111.58%	495.22%
EPS Growth	-117.07%	-126.27%	-0.76%	-361.90%	-7.14%	-274.19%	-108.40%	-94.55%	-346.67%	111.21%	490.91%
Operating Cash Flow Growth	-542.33%	-120.36%	-91.69%	165.55%	145.65%	67.09%	1,297.79%	-151.31%	-87.88%	-64.96%	-18.40%
Free Cash Flow Firm Growth	45.83%	62.79%	50.79%	-72.47%	46.36%	286.63%	432.75%	375.30%	446.10%	-5.46%	-73.13%
Invested Capital Growth	13.81%	8.21%	21.20%	13.91%	6.14%	-21.55%	-38.05%	-39.44%	-22.22%	-15.16%	-12.79%
Revenue Q/Q Growth	-19.93%	36.21%	14.61%	-22.41%	-23.85%	39.96%	-4.79%	-4.04%	-28.51%	44.60%	2.75%
EBITDA Q/Q Growth	-86.86%	-202.34%	1,666.89%	-117.02%	156.43%	667.15%	-94.36%	-894.92%	7.11%	290.66%	-11.63%
EBIT Q/Q Growth	-115.52%	-219.27%	605.63%	-132.95%	92.47%	2,873.76%	-117.87%	-356.05%	14.79%	212.98%	-14.66%
NOPAT Q/Q Growth	-50.96%	-243.33%	1,004.24%	-119.59%	94.41%	-8,086.37%	87.61%	-211.66%	15.64%	243.27%	-19.31%
Net Income Q/Q Growth	-169.22%	-111.64%	528.83%	-142.31%	73.28%	-684.84%	90.58%	-885.37%	38.11%	120.15%	221.55%
EPS Q/Q Growth	-166.67%	-121.43%	522.58%	-141.98%	72.73%	-673.33%	90.52%	-872.73%	37.38%	119.40%	230.77%
Operating Cash Flow Q/Q Growth	-635.54%	-55.07%	114.49%	120.76%	-7.94%	-211.78%	715.31%	-108.10%	121.75%	-1,620.93%	404.40%
Free Cash Flow Firm Q/Q Growth	-37.57%	24.03%	-44.08%	-14.54%	57.21%	364.30%	156.89%	-5.24%	-46.21%	-27.80%	-26.99%
Invested Capital Q/Q Growth	5.81%	5.70%	6.92%	-4.74%	-1.40%	-21.88%	-15.57%	-6.88%	26.62%	-14.79%	-13.20%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	53.88%	51.37%	54.88%	49.57%	52.78%	51.02%	54.64%	49.75%	51.99%	52.23%	56.29%
EBITDA Margin	1.57%	-1.18%	16.08%	-3.53%	2.61%	14.32%	0.85%	-7.02%	-9.13%	12.03%	10.35%
Operating Margin	2.80%	-2.95%	14.62%	-5.87%	-0.43%	12.00%	-3.28%	-10.66%	-12.58%	9.93%	7.97%
EBIT Margin	-1.39%	-3.25%	14.34%	-6.09%	-0.60%	11.93%	-2.24%	-10.64%	-12.68%	9.91%	8.23%
Profit (Net Income) Margin	-2.47%	-3.84%	14.38%	-7.84%	-2.75%	-15.43%	-1.53%	-15.68%	-13.57%	1.89%	5.92%
Tax Burden Percent	89.37%	88.38%	111.40%	99.49%	92.21%	-146.69%	38.13%	113.88%	87.01%	22.63%	85.31%
Interest Burden Percent	199.71%	133.87%	90.08%	129.53%	495.88%	88.20%	178.88%	129.41%	123.02%	84.38%	84.34%
Effective Tax Rate	0.00%	0.00%	-11.40%	0.00%	0.00%	247.00%	0.00%	0.00%	0.00%	12.16%	14.01%
Return on Invested Capital (ROIC)	3.06%	-2.95%	22.74%	-5.82%	-0.41%	-25.98%	-3.25%	-11.11%	-11.81%	14.18%	13.09%
ROIC Less NNEP Spread (ROIC-NNEP)	0.74%	-4.06%	21.37%	-7.87%	-1.37%	-24.69%	-2.80%	-15.74%	-13.43%	9.91%	12.32%
Return on Net Nonoperating Assets (RNNOA)	0.96%	-5.98%	29.97%	-12.18%	-2.41%	-46.73%	-4.87%	-32.63%	-36.71%	24.19%	22.28%
Return on Equity (ROE)	4.02%	-8.92%	52.71%	-18.00%	-2.82%	-72.71%	-8.12%	-43.74%	-48.51%	38.37%	35.37%
Cash Return on Invested Capital (CROIC)	2.45%	-0.86%	-11.35%	-2.07%	2.23%	20.10%	47.83%	48.78%	22.58%	12.57%	13.34%
Operating Return on Assets (OROA)	-1.23%	-2.77%	12.04%	-5.17%	-0.51%	9.99%	-1.75%	-8.69%	-10.19%	7.90%	7.22%
Return on Assets (ROA)	-2.20%	-3.28%	12.08%	-6.67%	-2.31%	-12.93%	-1.19%	-12.80%	-10.90%	1.51%	5.20%
Return on Common Equity (ROCE)	4.02%	-8.92%	52.71%	-18.00%	-2.82%	-72.71%	-8.12%	-43.74%	-48.51%	38.37%	35.37%
Return on Equity Simple (ROE_SIMPLE)	30.03%	13.75%	12.48%	0.00%	4.31%	-9.73%	-36.29%	0.00%	-84.32%	-47.46%	-27.21%
Net Operating Profit after Tax (NOPAT)	44	-64	575	-113	-6.29	-515	-64	-199	-168	241	194
NOPAT Margin	1.96%	-2.06%	16.28%	-4.11%	-0.30%	-17.65%	-2.30%	-7.46%	-8.80%	8.72%	6.85%
Net Nonoperating Expense Percent (NNEP)	2.32%	1.12%	1.37%	2.05%	0.96%	-1.29%	-0.45%	4.63%	1.62%	4.27%	0.77%
Return On Investment Capital (ROIC_SIMPLE)	0.51%	-0.70%	5.90%	-1.18%	-0.07%	-5.80%	-0.77%	-2.61%	-2.29%	3.15%	3.07%
Cost of Revenue to Revenue	46.12%	48.63%	45.12%	50.43%	47.22%	48.98%	45.36%	50.25%	48.01%	47.77%	43.71%
SG&A Expenses to Revenue	51.08%	40.62%	40.26%	44.01%	53.21%	39.02%	48.67%	51.02%	56.97%	42.30%	46.52%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	51.08%	54.32%	40.26%	55.44%	53.21%	39.02%	57.92%	60.40%	64.57%	42.30%	48.32%
Earnings before Interest and Taxes (EBIT)	-31	-100	506	-167	-13	348	-62	-284	-242	273	233
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	35	-36	568	-97	55	418	24	-187	-174	332	293
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.60	3.43	3.00	2.87	2.61	3.01	3.38	3.52	3.73	5.37	5.02
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.30	0.90	0.85	0.72	0.62	0.59	0.68	0.56	0.50	0.75	0.83
Price to Earnings (P/E)	15.33	24.96	24.02	70.54	60.44	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	5.01%	7.34%	7.85%	8.41%	8.84%	8.23%	5.41%	5.19%	4.28%	1.86%	1.66%
Earnings Yield	6.52%	4.01%	4.16%	1.42%	1.65%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.49	1.87	1.72	1.62	1.51	1.91	2.17	2.11	1.57	2.33	2.36
Enterprise Value to Revenue (EV/Rev)	1.70	1.36	1.35	1.22	1.14	1.14	1.17	1.07	1.02	1.31	1.15
Enterprise Value to EBITDA (EV/EBITDA)	12.02	15.90	18.91	30.19	26.53	13.62	30.91	36.10	130.59	0.00	44.43
Enterprise Value to EBIT (EV/EBIT)	14.28	21.48	27.42	68.28	57.26	19.04	115.67	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	17.23	27.71	24.14	15.81	18.94	0.00	197.35	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	47.54	132.43	0.00	0.00	0.00	53.81	9.63	10.99	12.05	17.68	21.49
Enterprise Value to Free Cash Flow (EV/FCFF)	108.30	0.00	0.00	0.00	69.46	8.35	3.48	3.26	6.07	17.01	16.50
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.58	1.96	1.94	2.28	2.47	3.02	2.94	3.60	4.29	4.44	2.77
Long-Term Debt to Equity	1.33	1.14	1.39	1.96	2.11	2.56	2.25	2.84	2.84	2.86	2.31
Financial Leverage	1.30	1.47	1.40	1.55	1.76	1.89	1.74	2.07	2.73	2.44	1.81
Leverage Ratio	4.04	4.14	3.99	4.24	4.49	5.08	4.96	5.60	6.23	7.01	6.11
Compound Leverage Factor	8.07	5.54	3.60	5.50	22.27	4.48	8.87	7.25	7.67	5.92	5.16
Debt to Total Capital	61.24%	66.23%	65.95%	69.55%	71.18%	75.14%	74.64%	78.25%	81.10%	81.61%	73.45%
Short-Term Debt to Total Capital	9.58%	27.63%	18.59%	9.79%	10.47%	11.52%	17.47%	16.59%	27.42%	28.94%	12.06%
Long-Term Debt to Total Capital	51.66%	38.59%	47.36%	59.75%	60.71%	63.62%	57.17%	61.67%	53.67%	52.67%	61.39%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	38.76%	33.77%	34.05%	30.45%	28.82%	24.86%	25.36%	21.75%	18.90%	18.39%	26.55%
Debt to EBITDA	3.15	5.98	7.69	14.13	13.71	7.08	15.53	19.32	74.10	-1,038.58	17.63
Net Debt to EBITDA	2.84	5.43	7.01	12.40	12.06	6.57	13.09	17.19	66.17	-956.69	12.43
Long-Term Debt to EBITDA	2.66	3.48	5.52	12.14	11.69	5.99	11.90	15.22	49.04	-670.31	14.73
Debt to NOPAT	4.52	10.42	9.82	7.40	9.79	-21.52	99.18	-250.26	-32.10	-26.10	-270.13
Net Debt to NOPAT	4.07	9.47	8.95	6.50	8.61	-19.96	83.59	-222.73	-28.66	-24.05	-190.54
Long-Term Debt to NOPAT	3.81	6.07	7.05	6.36	8.35	-18.22	75.97	-197.22	-21.25	-16.85	-225.77
Altman Z-Score	1.96	1.44	1.57	1.39	1.30	1.41	1.25	1.13	0.97	1.33	1.68
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.33	1.06	1.15	1.45	1.37	1.48	1.23	1.22	0.99	1.30	1.56
Quick Ratio	0.51	0.45	0.47	0.68	0.53	0.67	0.57	0.56	0.38	0.46	0.84
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-941	-715	-1,030	-1,180	-505	1,335	3,428	3,249	1,748	1,262	921
Operating Cash Flow to CapEx	-680.48%	-1,489.60%	199.93%	497.54%	269.96%	-554.74%	5,459.61%	-1,807.06%	0.00%	0.00%	13,177.31%
Free Cash Flow to Firm to Interest Expense	-28.92	-20.59	-19.03	-22.28	-9.15	29.23	65.10	35.50	29.50	27.21	21.25
Operating Cash Flow to Interest Expense	-11.01	-16.00	1.49	3.35	2.96	-4.00	21.36	-1.00	0.33	-6.50	21.18
Operating Cash Flow Less CapEx to Interest Expense	-12.63	-17.07	0.74	2.68	1.87	-4.73	20.97	-1.05	0.68	-6.28	21.02
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.89	0.85	0.84	0.85	0.84	0.84	0.78	0.82	0.80	0.80	0.88
Accounts Receivable Turnover	9.97	6.51	7.64	7.55	9.28	6.07	7.33	7.28	9.05	5.46	7.68
Inventory Turnover	3.08	2.61	2.83	2.97	2.13	2.09	2.16	2.51	2.02	2.15	2.48
Fixed Asset Turnover	11.77	11.82	11.80	11.70	11.72	12.06	11.61	12.08	11.83	12.32	12.71
Accounts Payable Turnover	7.03	7.06	7.49	7.36	4.74	5.43	5.45	5.82	4.06	4.61	4.92
Days Sales Outstanding (DSO)	36.60	56.06	47.75	48.38	39.32	60.14	49.77	50.16	40.31	66.80	47.55
Days Inventory Outstanding (DIO)	118.63	140.04	128.88	122.80	171.48	174.55	169.07	145.15	180.65	169.41	147.47
Days Payable Outstanding (DPO)	51.93	51.73	48.71	49.61	77.07	67.18	66.99	62.74	90.00	79.13	74.26
Cash Conversion Cycle (CCC)	103.31	144.37	127.93	121.57	133.72	167.51	151.86	132.58	130.96	157.08	120.76
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	8,121	8,584	9,178	8,743	8,620	6,734	5,686	5,295	6,704	5,713	4,959
Invested Capital Turnover	1.56	1.43	1.40	1.41	1.37	1.47	1.42	1.49	1.34	1.63	1.91
Increase / (Decrease) in Invested Capital	986	652	1,605	1,067	499	-1,850	-3,492	-3,448	-1,915	-1,021	-727
Enterprise Value (EV)	20,201	16,086	15,811	14,197	12,982	12,856	12,353	11,153	10,493	13,298	11,714
Market Capitalization	15,432	10,588	9,953	8,365	7,079	6,660	7,121	5,842	5,177	7,549	8,436
Book Value per Share	$8.63	$7.94	$8.54	$7.49	$6.99	$5.68	$5.42	$4.27	$3.57	$3.61	$4.32
Tangible Book Value per Share	($5.13)	($4.62)	($4.15)	($4.40)	($4.88)	($1.84)	($1.49)	($1.96)	($6.54)	($2.62)	($1.70)
Total Capital	8,649	9,137	9,749	9,558	9,426	8,891	8,317	7,625	7,342	7,648	6,328
Total Debt	5,297	6,051	6,430	6,647	6,710	6,681	6,208	5,967	5,954	6,242	4,648
Total Long-Term Debt	4,468	3,526	4,617	5,711	5,722	5,657	4,755	4,702	3,941	4,029	3,885
Net Debt	4,769	5,498	5,858	5,832	5,903	6,196	5,232	5,311	5,317	5,750	3,278
Capital Expenditures (CapEx)	53	37	40	36	61	33	21	5.05	-20	-10	6.97
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,448	2,314	1,939	1,728	1,578	2,238	1,416	1,378	1,316	3,198	1,189
Debt-free Net Working Capital (DFNWC)	1,976	2,867	2,510	2,543	2,384	2,723	2,392	2,035	1,953	3,690	2,558
Net Working Capital (NWC)	1,148	342	698	1,607	1,397	1,699	939	770	-60	1,476	1,795
Net Nonoperating Expense (NNE)	100	55	67	102	51	-65	-21	219	91	188	26
Net Nonoperating Obligations (NNO)	4,769	5,498	5,858	5,832	5,903	4,524	3,577	3,637	5,317	4,306	3,278
Total Depreciation and Amortization (D&A)	67	64	62	70	67	70	86	96	68	59	60
Debt-free, Cash-free Net Working Capital to Revenue	12.16%	19.63%	16.57%	14.88%	13.80%	19.85%	13.45%	13.18%	12.81%	31.62%	11.69%
Debt-free Net Working Capital to Revenue	16.59%	24.32%	21.46%	21.90%	20.85%	24.15%	22.72%	19.46%	19.01%	36.48%	25.16%
Net Working Capital to Revenue	9.64%	2.90%	5.96%	13.84%	12.22%	15.06%	8.92%	7.36%	-0.58%	14.60%	17.65%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.14)	($0.31)	$1.31	($0.55)	($0.15)	($1.16)	($0.11)	($1.07)	($0.67)	$0.13	$0.43
Adjusted Weighted Average Basic Shares Outstanding	387.56M	387.69M	387.74M	387.76M	388.16M	388.34M	388.38M	388.36M	388.74M	389.04M	389.22M
Adjusted Diluted Earnings per Share	($0.14)	($0.31)	$1.31	($0.55)	($0.15)	($1.16)	($0.11)	($1.07)	($0.67)	$0.13	$0.43
Adjusted Weighted Average Diluted Shares Outstanding	387.56M	387.69M	388.19M	388.37M	388.16M	388.34M	388.38M	388.36M	388.74M	390.95M	393.91M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	388.49M	388.57M	388.66M	388.68M	388.87M	388.88M	388.82M	388.89M	389.18M	389.32M	389.57M
Normalized Net Operating Profit after Tax (NOPAT)	44	232	361	-113	-6.29	245	116	-199	-66	241	238
Normalized NOPAT Margin	1.96%	7.52%	10.23%	-4.11%	-0.30%	8.40%	4.18%	-7.46%	-3.48%	8.72%	8.40%
Pre Tax Income Margin	-2.77%	-4.35%	12.91%	-7.88%	-2.99%	10.52%	-4.00%	-13.77%	-15.60%	8.36%	6.94%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.96	-2.88	9.35	-3.15	-0.23	7.63	-1.18	-3.10	-4.08	5.89	5.38
NOPAT to Interest Expense	1.36	-1.83	10.62	-2.13	-0.11	-11.29	-1.21	-2.18	-2.84	5.19	4.48
EBIT Less CapEx to Interest Expense	-2.58	-3.96	8.60	-3.82	-1.32	6.91	-1.57	-3.16	-3.74	6.12	5.22
NOPAT Less CapEx to Interest Expense	-0.26	-2.90	9.87	-2.80	-1.21	-12.01	-1.60	-2.23	-2.49	5.41	4.32
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	77.00%	183.16%	188.34%	592.70%	533.89%	-254.59%	-50.25%	-31.29%	-18.93%	-20.98%	-30.64%
Augmented Payout Ratio	110.38%	263.60%	192.19%	595.06%	533.89%	-254.59%	-50.25%	-31.58%	-18.93%	-20.98%	-30.64%

Frequently Asked Questions About VF's Financials

When does VF's financial year end?

According to the most recent income statement we have on file, VF's fiscal year ends in March. Their fiscal year 2024 ended on March 30, 2024.

How has VF's net income changed over the last 8 years?

VF's net income appears to be on a downward trend, with a most recent value of -$968.88 million in 2024, falling from $1.23 billion in 2015. The previous period was $118.58 million in 2023.

What is VF's operating income?

VF's total operating income in 2024 was -$34.06 million, based on the following breakdown:

Total Gross Profit: $5.44 billion
Total Operating Expenses: $5.47 billion

How has VF revenue changed over the last 8 years?

Over the last 8 years, VF's total revenue changed from $11.00 billion in 2015 to $10.45 billion in 2024, a change of -4.9%.

How much debt does VF have?

VF's total liabilities were at $9.95 billion at the end of 2024, a 10.2% decrease from 2023, and a 134.0% increase since 2015.

How much cash does VF have?

In the past 8 years, VF's cash and equivalents has ranged from $402.23 million in 2019 to $1.37 billion in 2020, and is currently $656.38 million as of their latest financial filing in 2024.

How has VF's book value per share changed over the last 9 years?

Over the last 9 years, VF's book value per share changed from 12.63 in 2015 to 4.27 in 2024, a change of -66.2%.

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This page (NYSE:VFC) was last updated on 4/15/2025 by MarketBeat.com Staff

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VF (VFC) Financials

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