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Carter's, Inc.

CRI Consumer Cyclical Apparel Retail

Carter's, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.9 billion, up 1.91% from fiscal 2024.

Revenue
−0.71%
EPS
+212.5%
Free cash flow
+18.6%
Total debt
+13.9%

Quarter to September 2026, against a year earlier

32.50 1.12 −3.33%
Market cap
$1.2B
P/E
5.4×
Fwd P/E
5.3×
Dividend yield
3.08%
F-score
5/9
Altman Z
2.60
Beneish M
−2.61
Dividend safety
42/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 2.31%

Capital & Financial Ratios $m

Size
Market Cap 1,200.00
Revenue ttm 2,974.51
Net income ttm 220.12
Free cash flow ttm 319.75
Net debt Q 42.18
Valuation
P/E 5.40
Forward P/E 5.26
Price / sales 0.39
Forward P/S Powerpack
Price / FCF 7.17
Price / book 1.10
Financial health
Current ratio Q 2.78 (at or above 1.5: strong)
Debt / equity Q 0.54
Interest coverage Q 4.72
Growth
Revenue growth Q −0.71% (below 0%: shrinking)
Operating income growth Q +91.70% (above 0%: growing)
EPS, this year −8.11% (below 0%: weak)
EPS, next year A +5.08%
Revenue, next year A +2.33%
EPS, past 5 yrs +0.24%
EPS, next 5 yrs A +0.05%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.6×, against a ten-year median of 1.2×; over the ten years it ranged from 0.5× in 2026 to 1.9× in 2017.
P/E against its own 10 years 0.66%
10-year low 10-year high
P/S against its own 10 years 4.22%
10-year low 10-year high
P/B against its own 10 years 1.91%
10-year low 10-year high
EV/Sales against its own 10 years 2.49%
10-year low 10-year high
EV/FCF against its own 10 years 5.62%
10-year low 10-year high

Dividends

Yield
3.08%
Annual rate
1.00
Payout ratio
16.6%
Growth, 2017–25
+0.58%/yr
  1. 1.48 ’17
  2. 1.80 ’18 +22
  3. 2.00 ’19 +11
  4. 0.60 ’20 −70
  5. 1.40 ’21 +133
  6. 3.00 ’22 +114
  7. 3.00 ’23 +0
  8. 3.20 ’24 +7
  9. 1.55 ’25 −52
  10. 1.00 ’26e −35
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 351 413 487 526
Receivables 184 195 179 229
Inventory 537 502 545 587
Other — — — —
1,101 1,143 1,271 1,416
2023 2024 2025 Q'26
Payables 242 248 236 254
ST’ Debt — — — —
Other 134 130 134 124
512 509 506 510

Compound Annual Growth %

10y 5y 3y
Sales (0.39%) (0.85%) (3.37%)
Cash Flow (8.82%) (26.96%) 11.45%
Earnings (9.23%) (3.99%) (28.65%)
Book Value 0.56% (0.28%) 5.12%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.85 Actual 1.03

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.70 1.90 Beat by 0.20
Q1 FY26 0.07 0.39 Beat by 0.32
Q2 FY26 0.02 0.26 Beat by 0.24
Q3 FY26 0.85 1.03 Beat by 0.18
Q4 FY26 1.92 — Reports 26 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.39 2.87 1.00 — —
’25 0.43 0.01 0.32 1.76 2.53
’24 1.02 0.76 1.62 1.71 5.12
’23 0.95 0.64 1.78 2.90 6.24
’22 1.66 0.93 1.67 2.11 6.34
’21 1.96 1.62 1.93 2.31 7.81
’20 (1.82) 0.19 1.85 2.26 2.50
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 681 615 752 — —
’25 630 585 758 925 2,898
’24 661 564 758 860 2,844
’23 696 600 792 858 2,946
’22 781 701 819 912 3,213
’21 787 746 891 1,062 3,486
’20 654 515 865 990 3,024
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 6 196 (100) — —
’25 (49) 40 (128) 259 122
’24 (26) 117 (80) 287 299
’23 42 167 (3) 323 529
’22 (164) 70 (124) 306 88
’21 (40) 89 (42) 261 268
’20 (14) 252 81 270 588
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (1) 190 (117) — —
’25 (59) 24 (144) 248 69
’24 (38) 105 (96) 271 243
’23 28 155 (20) 306 469
’22 (171) 62 (134) 292 48
’21 (51) 80 (50) 252 231
’20 (22) 243 73 262 556
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 3,199 3,401 3,462 3,519 3,024 3,486 3,213 2,946 2,844 2,898 2,975 (1.1%) 2,966 3,007 3,024 +1.4%
Gross margin, % 43.10 43.62 43.25 42.87 43.43 47.68 45.83 47.39 48.00 45.36 49.13 +2.3 pt
EBT 395 391 356 328 135 438 317 302 231 114 281 (12.9%)
EBT margin, % 12.36 11.50 10.28 9.32 4.46 12.57 9.86 10.26 8.12 3.93 9.44 (8.4) pt
Net income 258 303 282 264 110 340 250 233 186 92 220 (10.8%)
Per share, $
Per share, $ Revenue 64.08 71.45 75.00 79.26 69.94 81.36 82.75 80.50 80.06 81.86 83.50 +2.8%
Earnings 5.13 6.31 6.06 5.89 2.51 7.83 6.34 6.24 5.12 2.53 6.02 (7.6%)
Cash flow 7.40 6.93 7.72 8.72 13.61 6.26 2.28 14.46 8.41 3.46 10.12 (8.1%)
Capex (1.77) (4.79) (1.37) (1.37) (0.76) (0.87) (1.04) (1.64) (1.58) (1.52) (1.14) (1.7%)
Free cash flow 5.63 2.14 6.35 7.35 12.85 5.39 1.24 12.83 6.83 1.94 8.98 (11.2%)
Book value 15.79 18.02 18.83 19.82 21.69 22.17 20.51 23.10 24.06 26.13 29.59 +5.8%
Shares, m 50 48 46 44 43 43 39 37 36 35 36 (3.7%)
Valuation, ×
Valuation, × P/E 16.85 18.56 13.38 18.47 37.78 12.89 11.74 12.03 10.60 12.87 5.40 16.5
P/S 1.36 1.65 1.09 1.38 1.35 1.24 0.90 0.94 0.68 0.40 0.39 1.1
P/B 5.51 6.54 4.33 5.52 4.34 4.57 3.65 3.26 2.25 1.24 1.10 4.1
EV/Sales 1.44 1.78 1.21 1.53 1.37 1.29 1.18 1.15 0.88 0.59 0.57 1.2
EV/FCF 19.31 61.61 31.17 32.08 10.42 62.01 (34.47) 10.94 29.74 (19.21) 10.51 20.4
Cash, $m
Cash, $m Operating cash flow 369 330 356 387 588 268 88 529 299 122 360 (11.6%)
Capex (88) (228) (63) (61) (33) (37) (40) (60) (56) (54) (41) (5.4%)
Free cash flow 281 102 293 327 556 231 48 469 243 69 320 (14.5%)
Balance, $m
Balance, $m Working capital 779 689 716 632 1,153 1,182 660 589 634 765 907 (0.2%)
Net debt 281 439 423 380 (113) 7 405 146 85 80 42 (13.0%)
Shareholders’ equity 788 857 869 880 938 950 796 845 855 925 1,054 +1.8%
Returns, %
Returns, % ROA 12.94 15.08 13.56 10.96 3.57 10.20 8.75 9.47 7.56 3.58 8.46 (9.4) pt
ROIC 24.90 20.23 18.93 18.44 14.38 32.45 19.73 20.39 16.94 8.95 17.60 (16.0) pt
ROE 30.74 36.81 32.42 30.16 12.07 35.55 28.21 27.80 21.39 10.06 22.65 (20.7) pt
People
People Employees 18,300 21,200 21,245 20,300 18,000 15,900 15,500 15,230 15,350 15,400 — (1.9%)
Revenue/emp, $m 0.17 0.16 0.16 0.17 0.17 0.22 0.21 0.19 0.19 0.19 — +0.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Carter's, Inc. vs peers in Apparel Retail (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
AEO American Eagle Outfitters, Inc. $3.4B 10.2× 8.6× +7.53% (above 0%: growing) +77.78% (above 0%: growing) +367.29% (above 0%: growing) 48.69% 15.32% Compare
BKE Buckle, Inc. (The) $2.3B 10.1× 10.8× +4.60% (above 0%: growing) −2.22% (below 0%: shrinking) −63.66% (below 0%: shrinking) 47.85% 17.45% Compare
CRI Carter's, Inc. $1.2B 5.4× 5.3× −0.71% (below 0%: shrinking) +212.50% (above 0%: growing) +18.56% (above 0%: growing) 47.15% 7.41%
REF Reformation Inc. $995.5M — — — — — 66.66% 12.26% Compare
CAL Caleres, Inc. $463.8M 8.9× 6.4× +5.61% (above 0%: growing) +760.00% (above 0%: growing) +118.94% (above 0%: growing) 54.78% 11.16% Compare
CTRN Citi Trends, Inc. $437.7M 59.1× 28.2× +10.95% (above 0%: growing) n/m −353.58% (below 0%: shrinking) 40.58% (0.81%) Compare
SHOE Shoe Station Group Inc. $412.7M 17.0× 17.2× −7.21% (below 0%: shrinking) −67.14% (below 0%: shrinking) +197.41% (above 0%: growing) 31.87% 2.68% Compare
GCO Genesco Inc. $400.0M 9.1× 6.5× −2.95% (below 0%: shrinking) n/m −16.21% (below 0%: shrinking) 51.36% 0.68% Compare
SFIX Stitch Fix, Inc. $346.5M — (loss-making) — (loss-making) +4.24% (above 0%: growing) n/m +58.59% (above 0%: growing) 43.58% (1.35%) Compare
Median of peers $450.7M 10.2× 9.7× +4.60% +37.78% +58.59% 48.27% 6.92%

All 33 Apparel Retail stocks →

Pay and ownership Proxy statement filed 1 April 2026

Ownership

Directors and executive officers, together 3.20%
BlackRock, Inc. 14.30%
RWWM, Inc. 7.00%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

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stockrow.com/CRI · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com