PVH Corp. (PVH) vs V.F. Corporation (VFC)

PVH Corp. and V.F. Corporation are both Apparel Manufacturing companies. V.F. Corporation is the larger, with a market value of $5.4B against $3.5B — 1.5× the size. PVH Corp. has negative trailing earnings, so its P/E is not meaningful; V.F. Corporation trades at 19.9×. PVH Corp. grew revenue faster over the last twelve months: 1.64% against 0.19%. V.F. Corporation has the higher net margin (2.88% vs −1.89%) and the higher return on invested capital (7.87% vs 3.74%). Both pay a dividend; V.F. Corporation yields more (5.08% vs 0.10%). Across the 22 metrics below, PVH Corp. leads on 14 and V.F. Corporation on 8.

Valuation

Metric PVH VFC Apparel Manufacturing median
P/E n/m 19.93 17.21
P/S 0.39 0.58 0.44
P/B 0.73 3.14 1.58
Price to free cash flow 4.65 9.20 9.18
EV/EBITDA 4.52 6.72 8.64
EV/Sales 0.54 0.88 0.54
Earnings yield (4.87%) 5.02% 0.00%
Free cash flow yield 21.49% 10.87% 9.25%

Profitability

Metric PVH VFC Apparel Manufacturing median
Gross margin 58.78% 54.97% 48.31%
Operating margin 4.07% 6.10% 2.46%
Net margin (1.89%) 2.88% (0.46%)
Free cash flow margin 8.44% 6.34% 5.26%
Return on equity (3.50%) 17.94% 4.29%
Return on assets (1.47%) 2.80% 0.00%
Return on invested capital 3.74% 7.87% 0.00%

Growth

Metric PVH VFC Apparel Manufacturing median
Revenue growth (TTM) 1.64% 0.19% 0.02%
EPS growth (last fiscal year) (95.08%) 233.33% —
Revenue growth, 5-year CAGR 4.64% 0.78% 6.76%
Net income growth, 5-year CAGR 0.00% (8.97%) 0.00%

Health

Metric PVH VFC Apparel Manufacturing median
Debt to equity 0.47 1.99 0.23
Current ratio 1.65 1.43 1.81
Net debt to EBITDA 1.10 2.18 (0.43)

Dividend

Metric PVH VFC Apparel Manufacturing median
Dividend yield 0.10% 5.08% 2.76%
Payout ratio 0.05 5.37 0.07

Size

Metric PVH VFC Apparel Manufacturing median
Market cap 3.49b 5.38b 402.31m

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