Lands' End, Inc.
LE Consumer Cyclical Apparel Retail
In the quarter to July 2026, revenue grew 2.71%, EPS grew 200.0%, free cash flow fell 285.5% and total debt fell 77.6%, each against the same quarter a year earlier.
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Lands' End, Inc. (LE) Altman Z-score
Lands' End, Inc.'s Altman Z-score for fiscal 2026 is 2.67, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 2.67 | 0.18 |
| FY2025 | 2.49 | 0.63 |
| FY2024 | 1.87 | (0.23) |
| FY2023 | 2.10 | (0.60) |
| FY2022 | 2.69 | 0.18 |
| FY2021 | 2.52 | 0.50 |
| FY2020 | 2.01 | (0.21) |
| FY2019 | 2.23 | 0.16 |
| FY2018 | 2.07 | 0.66 |
| FY2017 | 1.41 | (0.57) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.18 | — | 0.22 | |
| Retained earnings / total assets | (0.12) | — | −0.17 | |
| EBIT / total assets | 0.06 | — | 0.19 | |
| Market value of equity / total liabilities | 1.08 | — | 0.65 | |
| Sales / total assets | 1.78 | — | 1.78 | |
| Altman Z-score | Grey zone | 2.67 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 1.71 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| CTRN Citi Trends, Inc. compare | 3.2× |
| SHOE Shoe Station Group Inc. compare | 3.1× |
| ZUMZ Zumiez Inc. compare | 2.9× |
| LE Lands' End, Inc. | 2.7× |
| SFIX Stitch Fix, Inc. compare | 2.6× |
| GCO Genesco Inc. compare | 2.5× |
| CAL Caleres, Inc. compare | 1.9× |
| JILL J.Jill, Inc. compare | 1.8× |
| CURV Torrid Holdings Inc. compare | 1.4× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets