PVH Corp (PVH)
NYSE:PVH
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PVH
(NYSE:PVH)
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Rating:64Neutral
Price Target:
$97.00
▲(3.01% Upside)
Action:ReiteratedDate:04/30/26
The score is driven primarily by mixed fundamentals: solid cash generation and stable scale are offset by a sharp recent profitability/ROE decline and higher leverage. Technicals are supportive with strong trend and momentum. Valuation is the biggest drag due to the very high P/E, while earnings-call guidance is modestly constructive but tempered by tariff-driven near-term margin pressure.
Positive Factors
Strong brand portfolio and D2C scale
PVH’s portfolio-led model with Calvin Klein and Tommy Hilfiger and a D2C mix at ~50% creates durable control of customer experience, higher margin capture, and better data-driven merchandising. Larger owned channels reduce wholesale dependency and support steady long-term revenue mix and margin resilience.
Negative Factors
Material tariff headwinds to gross margin
A sustained U.S. tariff (~215 bps drag, ~$195M) is a structural cost pressure that directly compresses gross margins. Although mitigation plans exist, partial and phased mitigation leaves multi-quarter margin risk, requiring persistent sourcing, pricing or mix changes to fully neutralize the impact.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong brand portfolio and D2C scale
PVH’s portfolio-led model with Calvin Klein and Tommy Hilfiger and a D2C mix at ~50% creates durable control of customer experience, higher margin capture, and better data-driven merchandising. Larger owned channels reduce wholesale dependency and support steady long-term revenue mix and margin resilience.
Read all positive factors
PVH (PVH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.05B
Dividend Yield0.22%
Average Volume (3M)1.29M
Price to Earnings (P/E)―
Beta (1Y)0.94
Revenue Growth3.44%
EPS Growth-96.10%
CountryUS
Employees16,000
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Manufacturers
Share Statistics
EPS (TTM)0.53
Shares Outstanding45,811,527
10 Day Avg. Volume1,484,226
30 Day Avg. Volume1,286,572
Financial Highlights & Ratios
PEG Ratio-1.24
Price to Book (P/B)0.62
Price to Sales (P/S)0.33
P/FCF Ratio5.52
Enterprise Value/Market Cap1.89
Enterprise Value/Revenue0.85
Enterprise Value/Gross Profit1.48
Enterprise Value/Ebitda11.64
Forecast
1Y Price Target
$94.00Price Target Upside-0.18% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering9
EPS Forecast (FY)12.11
Revenue Forecast (FY)$9.01B
PVH Business Overview & Revenue Model
Company Description
PVH Corp. operates as an apparel company worldwide. The company operates through six segments: Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, Heritage Brands Wholesale, and Herit...
How the Company Makes Money
PVH makes money primarily by monetizing its brand portfolio through wholesale sales, direct-to-consumer sales, and select licensing arrangements. (1) Wholesale revenue: PVH sells branded apparel and accessories to third-party retailers and distrib...
PVH Earnings Call Summary
Earnings Call Date:Mar 31, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jun 03, 2026
Earnings Call Sentiment Positive
The call conveyed meaningful operational progress and strong brand and product momentum (exceeding Q4 guidance, notable campaign and product sell-throughs, cost savings, healthy inventory, and sizable shareholder returns). At the same time, significant near-term headwinds—primarily U.S. tariffs, wholesale timing shifts and cautious wholesale partners, along with front‑loaded marketing spend—will pressure margins and Q1 earnings. Management provided mitigation plans for tariffs and a modestly constructive 2026 outlook that assumes progressive mitigation and modest revenue growth. Overall, the balance of evidence points to sustained improvement and structural progress across brands, with short-term macro and tariff challenges that management expects to manage through 2026.Positive Updates
Exceeded Q4 Guidance on Revenue, Profit and EPS
Q4 reported revenue grew ~6% (flat in constant currency), non-GAAP operating margin reached 10% for the quarter (would have been 11.7% excluding gross tariff impact), and Q4 EPS was $3.82, up 17% year-over-year.
Negative Updates
Significant Tariff Headwinds
Tariffs materially pressured gross margins: Q4 had a ~170 basis point negative gross tariff impact, full-year 2025 ~80 bps, and management expects a ~215 bps gross tariff impact in 2026. Management estimates approximately $195 million gross tariff cost (around $3.30 per share) for 2026 and Q1 2026 will see ~230 bps gross tariff impact. Mitigation plans expected to offset progressively (management expects ~60% mitigation for 2026 and >75% mitigation annualized by year-end 2026).
Read all updates
Q4-2025 Updates
Positive
Negative
Exceeded Q4 Guidance on Revenue, Profit and EPS
Q4 reported revenue grew ~6% (flat in constant currency), non-GAAP operating margin reached 10% for the quarter (would have been 11.7% excluding gross tariff impact), and Q4 EPS was $3.82, up 17% year-over-year.
Read all positive updates
Company Guidance
PVH guided fiscal 2026 to modest improvement: reported revenue is expected to be up slightly (flat to up slightly in constant currency) with planned D2C growth across both brands and all three regions, and non‑GAAP operating margin targeted at ~8.8% (about 11% excluding the gross tariff impact). Management assumes a 15% U.S. tariff (effective Feb 24) equal to roughly $195 million of gross tariff cost (~$3.30 per share) and ~215 basis points of gross tariff drag in 2026, with ~60% of that impact expected to be mitigated for the year and >75% mitigation on an annualized basis exiting 2026; they expect gross margin to be slightly higher year‑over‑year after offsetting the ~215 bps tariff and ~50 bps North America license transition headwinds. EPS is forecast at $11.80–$12.10 (vs. $11.40 in 2025), first‑quarter revenue is expected to be up slightly reported (down low‑single digits in constant currency), Q1 gross tariff headwind ~230 bps with ~50% mitigation, Q1 operating margin 6.0–6.5% (vs. 8.1% prior) and Q1 EPS $1.65–$1.80 (vs. $2.30 prior). Additional metrics: capex ≈ $250 million, at least $300 million of share repurchases planned, interest expense roughly flat at ~$79 million, tax rate ~22–23%, licensing revenue down low‑teens (reflecting North America transitions) and the net revenue impact of those transitions expected to be <1%.PVH Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
60
Neutral
Cash Flow
68
Positive
| Breakdown | Jan 2026 | Jan 2025 | Jan 2024 | Jan 2023 | Jan 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 8.95B | 8.65B | 9.22B | 9.02B | 9.15B |
| Gross Profit | 5.15B | 5.11B | 5.35B | 5.09B | 5.32B |
| EBITDA | 656.50M | 967.80M | 1.25B | 1.20B | 1.28B |
| Net Income | 25.30M | 598.50M | 663.60M | 200.40M | 952.30M |
Balance Sheet | |||||
| Total Assets | 11.68B | 11.03B | 11.17B | 11.77B | 12.40B |
| Cash, Cash Equivalents and Short-Term Investments | 701.50M | 748.00M | 707.60M | 550.70M | 1.24B |
| Total Debt | 4.30B | 3.39B | 3.53B | 3.83B | 3.95B |
| Total Liabilities | 6.89B | 5.89B | 6.05B | 6.76B | 7.11B |
| Stockholders Equity | 4.79B | 5.14B | 5.12B | 5.01B | 5.29B |
Cash Flow | |||||
| Free Cash Flow | 538.40M | 582.20M | 724.70M | -250.90M | 803.30M |
| Operating Cash Flow | 680.40M | 740.90M | 969.40M | 39.20M | 1.07B |
| Investing Cash Flow | -140.10M | -137.70M | -85.10M | -278.20M | -45.00M |
| Financing Cash Flow | -605.70M | -550.40M | -721.80M | -428.20M | -1.40B |
PVH Technical Analysis
Positive
94.17
Price Trends
71.10
Positive
70.72
Positive
74.93
Positive
Market Momentum
6.70
Negative
80.56
Negative
84.60
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PVH, the sentiment is Positive. The current price of 94.17 is above the 20-day moving average (MA) of 78.29, above the 50-day MA of 71.10, and above the 200-day MA of 74.93, indicating a bullish trend. The MACD of 6.70 indicates Negative momentum. The RSI at 80.56 is Negative, neither overbought nor oversold. The STOCH value of 84.60 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PVH.
PVH Risk Analysis
PVH disclosed 34 risk factors in its most recent earnings report. PVH reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
PVH Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $8.50B | 11.94 | 28.33% | 2.58% | 2.61% | 30.39% | |
70 Outperform | $3.11B | 21.02 | 10.53% | 2.18% | 0.54% | -19.72% | |
69 Neutral | $21.45B | 15.13 | 34.74% | 0.93% | 12.71% | 33.95% | |
69 Neutral | $3.83B | 11.57 | 45.05% | 3.36% | 20.87% | -7.43% | |
64 Neutral | $4.05B | -4.69 | 0.53% | 0.22% | 3.44% | -96.10% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
53 Neutral | $7.20B | 6.01 | 14.79% | 1.95% | -3.12% | ― |
* Consumer Cyclical Sector Average
PVH
PVH
88.36
17.66
24.97%
COLM
Columbia Sportswear
59.43
-2.44
-3.95%
RL
Ralph Lauren
354.29
119.84
51.12%
VFC
VF
18.39
6.46
54.14%
LEVI
Levi Strauss & Co
22.09
6.33
40.21%
KTB
Kontoor Brands
69.31
6.50
10.35%
PVH Corporate Events
Business Operations and StrategyDividends
PVH Declares Quarterly Dividend, Reaffirming Shareholder Focus
Positive
Apr 29, 2026
On April 29, 2026, PVH Corp.’s Executive Committee of the Board of Directors declared a quarterly cash dividend of $0.0375 per share on its common stock. The dividend will be paid on June 24, 2026 to shareholders of record as of June 3, 2026...
Dividends
PVH Declares Quarterly Cash Dividend, Signaling Stability
Positive
Feb 4, 2026
On February 4, 2026, PVH Corp.’s Executive Committee of the Board of Directors declared a quarterly cash dividend of $0.0375 per share on its common stock, payable on March 25, 2026 to shareholders of record as of March 4, 2026, signaling th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.