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PVH Corp (PVH)
NYSE:PVH
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PVH
(NYSE:PVH)
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Rating:73Outperform
Price Target:
$91.00
▲(6.13% Upside)
PVH's overall stock score is driven by strong technical indicators and a favorable valuation, suggesting potential undervaluation. While financial performance shows stable revenue growth, challenges in profitability and cash management need attention. The positive earnings call adds a slight boost, but macroeconomic uncertainties and tariff impacts remain concerns.
Positive Factors
Revenue Growth
The company's ability to exceed revenue expectations reflects strong brand performance and effective market strategies, indicating robust demand and market presence.
Innovative Marketing
Innovative marketing campaigns enhance brand visibility and consumer engagement, supporting long-term brand strength and competitive positioning.
Operational Improvements
Operational improvements at Calvin Klein indicate enhanced efficiency and margin improvements, contributing to sustainable profitability.
Negative Factors
Gross Margin Decline
A decline in gross margins due to tariffs and promotions pressures profitability, potentially impacting long-term financial health if not mitigated.
Tariff Impact
Increased tariffs create cost pressures and earnings uncertainty, posing risks to profitability and strategic planning.
Asia Pacific Revenue Decline
Revenue decline in Asia Pacific, particularly in China, highlights challenges in key growth markets, potentially affecting future expansion and revenue diversification.
PVH (PVH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.31B
Dividend Yield0.17%
Average Volume (3M)1.24M
Price to Earnings (P/E)9.8
Beta (1Y)0.83
Revenue Growth-1.14%
EPS Growth-29.30%
CountryUS
Employees16,000
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Manufacturers
Share Statistics
EPS (TTM)2.52
Shares Outstanding48,119,780
10 Day Avg. Volume1,168,409
30 Day Avg. Volume1,238,654
Financial Highlights & Ratios
PEG Ratio-4.46
Price to Book (P/B)0.91
Price to Sales (P/S)0.54
P/FCF Ratio8.01
Enterprise Value/Market Cap1.74
Enterprise Value/Revenue0.85
Enterprise Value/Gross Profit1.47
Enterprise Value/Ebitda15.31
Forecast
1Y Price Target
$93.08Price Target Upside8.56% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering13
PVH Business Overview & Revenue Model
Company DescriptionPVH 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 Heritage Brands Retail. It designs, markets, and retails men's, women's, and children's apparel and accessories, including branded dress shirts, neckwear, sportswear, jeans wear, performance apparel, intimate apparel, underwear, swimwear, swim-related products, handbags, accessories, footwear, outerwear, home furnishings, luggage products, sleepwear, loungewear, hats, scarves, gloves, socks, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, fragrance, home bed and bath furnishings, small leather goods, and other products. The company offers its products under its own brands, such as Tommy Hilfiger, Calvin Klein, Van Heusen, IZOD, ARROW, Warner's, Olga, Geoffrey Beene, and True&Co., as well as various other owned, licensed, and private label brands. It also licenses its own brands over various products. The company distributes its products at wholesale in department, chain, and specialty stores, as well as through warehouse clubs, mass market, and off-price and independent retailers; and through company-operated full-price, outlet stores, and concession locations, as well as through digital commerce sites. It markets its products to approximately 40 countries. PVH Corp. was founded in 1881 and is based in New York, New York.
How the Company Makes MoneyPVH generates revenue primarily through the sales of its branded products across multiple segments. The company operates on a multi-channel revenue model that includes wholesale distribution to department stores and specialty retailers, direct-to-consumer sales through owned retail stores and e-commerce platforms, and licensing agreements that allow third parties to produce and sell products under its brands. Key revenue streams include apparel sales, which encompass men's, women's, and children's clothing, as well as accessories and footwear. Significant partnerships with retailers and e-commerce platforms enhance distribution and brand visibility, while global licensing agreements contribute additional income. The company also benefits from a strategic focus on international markets, particularly in Europe and Asia, where it has expanded its brand reach and consumer base.
PVH Earnings Call Summary
Earnings Call Date:Aug 26, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 26, 2025
Earnings Call Sentiment Neutral
The earnings call reflects a generally positive outlook with strong revenue performance and strategic marketing driving brand engagement. Operational improvements are noted, especially in Calvin Klein. However, gross margin pressures and uncertainty due to increased tariffs and macroeconomic conditions present significant challenges. The sentiment is balanced with a slight positive tilt due to strong brand performance and strategic initiatives.Q2-2025 Updates
Positive Updates
Revenue Growth Exceeds Expectations
PVH Corp. reported a 4% increase in revenue on a reported basis and a 1% increase on a constant currency basis, beating their guidance for the second quarter of 2025.
Calvin Klein and Tommy Hilfiger Performance
Calvin Klein saw a 5% increase in revenue as reported and a 3% increase in constant currency. Tommy Hilfiger had a 4% increase in revenue as reported and was flat in constant currency.
Innovative Marketing Campaigns
The Bad Bunny campaign for Calvin Klein and the Formula One partnership for Tommy Hilfiger drove significant consumer engagement and sales growth, with notable increases in brand awareness and category performance.
Direct-to-Consumer Improvements
Direct-to-consumer revenue was flat in constant currency, showing a sequential improvement from the first quarter, particularly in the Americas and Europe.
Operational Improvements at Calvin Klein
Calvin Klein's global product capabilities in New York showed sequential improvements in operational challenges, securing margin improvements for Spring 2026.
Negative Updates
Gross Margin Decline
The gross margin decreased by 240 basis points compared to the previous year, affected by tariffs and other factors such as higher promotions and shipment mix.
Uncertain Macro Environment and Tariffs
Newly announced tariffs effectively doubled, creating uncertainty and a projected $70 million unmitigated impact to EBIT, affecting overall earnings.
Asia Pacific Revenue Decline
Revenue in the Asia Pacific region declined by 3% in constant currency due to a choppy consumer environment, particularly in China, despite sequential improvement.
Company Guidance
During the PVH Corp. Second Quarter 2025 Earnings Conference Call, the company reported a better-than-expected performance, surpassing its guidance on both the top and bottom lines. Revenue grew by 4% on a reported basis and achieved 1% growth on a constant currency basis. Direct-to-consumer revenue remained flat in constant currency, while wholesale revenue increased by low single digits. The company reaffirmed its full-year earnings guidance and raised its reported revenue guidance despite challenges like increased tariff rates. PVH emphasized strategic investments in marketing to boost brand visibility. Regionally, Europe saw positive direct-to-consumer growth and a low single-digit increase in the Spring 2026 wholesale order book. In North America, direct-to-consumer performance strengthened, achieving double-digit EBIT margins, while the Asia Pacific region exceeded plans and began stabilizing key markets. The company also addressed operational challenges in establishing Calvin Klein's global product capability in New York, reporting progress and improvements for the upcoming seasons.PVH Financial Statement Overview
Summary
PVH's financial performance shows stable revenue growth and strong gross margins. However, declining net profit margins and negative free cash flow growth indicate challenges in profitability and cash management.Income Statement
PVH's income statement shows a stable revenue growth in the TTM period with a slight increase of 1.07%. The gross profit margin remains strong at 58.22%, indicating efficient cost management. However, the net profit margin has decreased to 5.34% from 6.92% in the previous annual report, reflecting a decline in profitability. The EBIT and EBITDA margins have also decreased, suggesting potential challenges in operational efficiency.65
Positive
Balance Sheet
The balance sheet reflects a moderate debt-to-equity ratio of 0.88, indicating a balanced leverage position. The return on equity has decreased to 9.41% in the TTM period, down from 11.64% in the previous year, which may suggest a decline in shareholder returns. The equity ratio remains stable, showing a solid asset base supported by equity.70
Positive
Cash Flow
Cash flow analysis reveals a decline in free cash flow growth by 12.53% in the TTM period, indicating potential cash management issues. The operating cash flow to net income ratio is 0.31, suggesting moderate cash generation relative to net income. The free cash flow to net income ratio remains strong at 80.09%, highlighting effective cash conversion despite the decline in growth.60
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.78B | 8.65B | 9.22B | 9.02B | 9.15B | 7.13B |
| Gross Profit | 5.11B | 5.14B | 5.36B | 5.12B | 5.32B | 3.78B |
| EBITDA | 489.90M | 1.08B | 1.24B | 887.80M | 1.08B | -752.70M |
| Net Income | 468.50M | 598.50M | 663.60M | 200.40M | 952.30M | -1.14B |
Balance Sheet | ||||||
| Total Assets | 11.63B | 11.03B | 11.17B | 11.77B | 12.40B | 13.29B |
| Cash, Cash Equivalents and Short-Term Investments | 248.80M | 748.00M | 707.60M | 550.70M | 1.24B | 1.65B |
| Total Debt | 4.29B | 3.39B | 3.53B | 3.83B | 3.95B | 5.41B |
| Total Liabilities | 6.76B | 5.89B | 6.05B | 6.76B | 7.11B | 8.56B |
| Stockholders Equity | 4.87B | 5.14B | 5.12B | 5.01B | 5.29B | 4.73B |
Cash Flow | ||||||
| Free Cash Flow | 515.70M | 582.20M | 724.70M | -250.90M | 803.30M | 471.10M |
| Operating Cash Flow | 656.90M | 740.90M | 969.40M | 39.20M | 1.07B | 697.70M |
| Investing Cash Flow | -124.70M | -137.70M | -85.10M | -278.20M | -45.00M | -59.10M |
| Financing Cash Flow | -893.10M | -550.40M | -721.80M | -428.20M | -1.40B | 477.40M |
PVH Technical Analysis
Positive
85.74
Price Trends
79.42
Positive
76.59
Positive
79.68
Positive
Market Momentum
2.14
Negative
55.46
Neutral
80.85
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 85.74 is above the 20-day moving average (MA) of 85.00, above the 50-day MA of 79.42, and above the 200-day MA of 79.68, indicating a bullish trend. The MACD of 2.14 indicates Negative momentum. The RSI at 55.46 is Neutral, neither overbought nor oversold. The STOCH value of 80.85 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
Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | 9.18B | 22.93 | 19.39% | 2.32% | 2.90% | 182.72% | |
77 Outperform | 18.91B | 24.91 | 31.59% | 1.15% | 9.61% | 21.14% | |
73 Outperform | $4.31B | 9.84 | 9.32% | 0.17% | -1.14% | -29.30% | |
71 Outperform | 4.52B | 18.15 | 50.42% | 2.62% | 3.47% | 5.86% | |
67 Neutral | 2.94B | 13.68 | 13.59% | 2.36% | 0.81% | 4.86% | |
53 Neutral | 5.79B | 68.23 | -3.66% | 2.50% | -7.41% | ― | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% |
* Consumer Cyclical Sector Average
Performance Comparison
PVH
PVH
85.74
-14.91
-14.81%
COLM
Columbia Sportswear
50.89
-30.86
-37.75%
RL
Ralph Lauren
302.89
111.06
57.90%
VFC
VF
14.39
-5.13
-26.28%
LEVI
Levi Strauss & Co
22.81
1.65
7.80%
KTB
Kontoor Brands
79.45
-0.02
-0.03%
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.