V.F. Corporation (VFC) 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

+96.8%

$38.01

vs $19.32 price

Levered DCF

$62.86

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

1.77

Distress zone

Rating

Overall 3 / 5

Ratios by fiscal year

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

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	25.23×	-32.02×	-6.16×	73.9×	15.93×	75.7×	33.6×	25.64×
P/B	3.46×	4.11×	3.59×	3.05×	6.25×	10.13×	6.81×	7.52×
P/S	0.67×	0.64×	0.6×	0.8×	1.86×	3.35×	2.18×	3.15×
EV / EBITDA	13.4×	15.12×	16.08×	14.21×	14.12×	35.36×	17.16×	22.98×
Gross margin	54.8%	53.5%	51.6%	52.3%	54.5%	53.2%	55.5%	54.8%
Operating margin	6.3%	3.2%	-1.5%	9.0%	13.8%	6.6%	8.8%	11.6%
Net margin	2.7%	-2.0%	-9.8%	1.1%	11.7%	4.4%	6.5%	12.3%
Current ratio	1.84×	1.4×	1.22×	1.45×	1.38×	2.17×	1.66×	1.76×
Debt / equity	2.69×	3.61×	4.48×	2.8×	1.93×	2.41×	1.55×	0.65×
Interest coverage	3.64×	1.74×	-0.77×	6.55×	11.96×	4.48×	10.08×	11.05×
Dividend yield	2.2%	2.3%	5.1%	7.9%	3.5%	2.4%	3.3%	2.4%
Payout ratio	55.2%	-73.9%	-31.3%	592.7%	55.7%	185.5%	110.2%	60.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	13.8%	-12.8%	-58.4%	4.1%	39.3%	13.3%	20.2%	29.3%
Return on invested capital	6.1%	1.9%	-1.5%	8.5%	11.6%	3.9%	8.3%	11.9%
Return on assets	2.7%	-2.0%	-8.3%	0.8%	10.4%	3.0%	6.1%	12.2%
Free cash flow yield	7.9%	5.6%	13.5%	-10.1%	2.4%	3.4%	2.4%	4.3%
Earnings yield	4.0%	-3.1%	-16.3%	1.3%	6.3%	1.3%	3.0%	3.9%
Enterprise value	$10.6B	$11B	$12.6B	$16.2B	$27.6B	$37.5B	$26.7B	$34.6B
Net debt / EBITDA	5.27×	6.76×	8.46×	6.42×	2.83×	6.17×	2.47×	1.49×
Cash conversion cycle (days)	100	120	172	147	103	102	115	103