Abercrombie & Fitch Co. (ANF) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-5.8%

$157.60

vs $167.22 price

Levered DCF

$174.32

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

5.75

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	9.12×	10.72×	16.76×	455.17×	8.27×	-12.68×	26.82×	19.25×
P/B	3.29×	4.54×	5.31×	1.98×	2.63×	1.54×	1×	1.19×
P/S	0.88×	1.23×	1.29×	0.37×	0.59×	0.46×	0.29×	0.4×
EV / EBITDA	5.73×	6.69×	8.61×	9.07×	5.25×	12.65×	8.82×	3.19×
Gross margin	61.5%	64.2%	62.9%	56.9%	62.3%	60.5%	59.4%	60.2%
Operating margin	13.3%	15.0%	11.3%	2.5%	9.2%	-0.7%	1.9%	3.5%
Net margin	9.6%	11.4%	7.7%	0.1%	7.1%	-3.6%	1.1%	2.1%
Current ratio	1.49×	1.48×	1.59×	1.36×	1.49×	1.73×	1.55×	2.39×
Debt / equity	0.83×	0.71×	1.01×	1.76×	1.48×	1.66×	1.67×	0.25×
Interest coverage	294.38×	61.34×	15.97×	3.06×	9.04×	-0.65×	3.04×	5.59×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.9%	4.9%	3.7%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	-11.0%	130.9%	72.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	36.1%	42.4%	31.7%	0.4%	31.8%	-12.2%	3.7%	6.2%
Return on invested capital	18.7%	23.2%	15.3%	0.7%	14.0%	-0.8%	1.7%	4.7%
Return on assets	14.3%	17.2%	11.0%	0.1%	8.9%	-3.4%	1.1%	3.1%
Free cash flow yield	8.2%	8.7%	9.0%	-12.1%	8.3%	21.0%	9.3%	13.9%
Earnings yield	11.0%	9.3%	6.0%	0.2%	12.1%	-7.9%	3.7%	5.2%
Enterprise value	$5B	$6.2B	$5.6B	$2.1B	$2.6B	$1.9B	$2.2B	$1B
Net debt / EBITDA	0.47×	0.19×	0.22×	3.08×	0.82×	2.98×	4.5×	-1.34×
Cash conversion cycle (days)	50	51	46	67	46	44	61	61