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PVH Corp (PVH)
NYSE:PVH
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PVH
(NYSE:PVH)
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Rating:66Neutral
Price Target:
$87.00
▲(13.74% Upside)
PVH's overall stock score is driven by a stable financial position and positive earnings call sentiment, despite challenges in profitability and macroeconomic uncertainties. The technical indicators suggest potential for a reversal, while the valuation indicates the stock may be undervalued.
Positive Factors
Revenue Growth
The revenue growth exceeding expectations indicates strong market demand and effective sales strategies, supporting long-term business expansion.
Strategic Marketing Initiatives
Innovative marketing campaigns enhance brand visibility and consumer engagement, fostering long-term brand loyalty and sales growth.
Leadership Change
The appointment of an experienced supply chain leader can optimize operations, improve efficiency, and support sustainable growth.
Negative Factors
Gross Margin Decline
A decline in gross margin can pressure profitability, affecting the company's ability to reinvest in growth and maintain competitive pricing.
Uncertain Macro Environment
Increased tariffs and macroeconomic uncertainty can strain financial performance, impacting long-term strategic planning and profitability.
Asia Pacific Revenue Decline
A decline in the Asia Pacific region's revenue highlights challenges in a key growth market, potentially affecting future expansion opportunities.
PVH (PVH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.89B
Dividend Yield0.19%
Average Volume (3M)1.05M
Price to Earnings (P/E)9.1
Beta (1Y)0.85
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. Volume835,553
30 Day Avg. Volume1,048,067
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 Cap1.93
Enterprise Value/Revenue0.85
Enterprise Value/Gross Profit1.47
Enterprise Value/Ebitda15.31
Forecast
1Y Price Target
$94.67Price Target Upside23.77% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering12
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
Negative
76.49
Price Trends
81.23
Negative
77.18
Positive
78.49
Positive
Market Momentum
0.30
Positive
43.71
Neutral
21.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PVH, the sentiment is Negative. The current price of 76.49 is below the 20-day moving average (MA) of 84.70, below the 50-day MA of 81.23, and below the 200-day MA of 78.49, indicating a neutral trend. The MACD of 0.30 indicates Positive momentum. The RSI at 43.71 is Neutral, neither overbought nor oversold. The STOCH value of 21.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | $19.94B | 26.26 | 32.55% | 1.12% | 9.61% | 21.14% | |
71 Outperform | $9.76B | 24.36 | 25.99% | 2.47% | 3.20% | 200.49% | |
68 Neutral | $4.47B | 17.93 | 58.07% | 2.69% | 3.47% | 5.86% | |
67 Neutral | $2.91B | 13.54 | 12.93% | 2.34% | 0.81% | 4.86% | |
66 Neutral | $3.89B | 9.05 | 9.32% | 0.19% | -1.14% | -29.30% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
51 Neutral | $5.47B | 64.50 | 7.83% | 2.71% | -7.41% | ― |
* Consumer Cyclical Sector Average
PVH
PVH
76.49
-20.81
-21.39%
COLM
Columbia Sportswear
48.96
-29.59
-37.67%
RL
Ralph Lauren
309.42
106.10
52.18%
VFC
VF
13.29
-5.65
-29.83%
LEVI
Levi Strauss & Co
21.46
2.98
16.13%
KTB
Kontoor Brands
74.33
-5.34
-6.70%
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.