Latest Ratios: P/E Ratio 17.0x · EV/EBITDA 12.7x · ROE 27.2%. (2000–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $9.7B | $8.8B | $7.0B | $6.2B | $6.7B | $10.5B | $7.3B | $6.9B | — | — | — |
| Enterprise Value | $11.3B | $10.4B | $8.5B | $8.0B | $8.3B | $11.9B | $8.5B | $6.9B | — | — | — |
| P/E Ratio → | 17.01 | 15.19 | 33.58 | 24.98 | 11.72 | 18.94 | — | 17.30 | — | — | — |
| P/S Ratio | 1.55 | 1.40 | 1.11 | 1.01 | 1.08 | 1.82 | 1.64 | 1.19 | — | — | — |
| P/B Ratio | 4.33 | 3.86 | 3.57 | 3.04 | 3.51 | 6.29 | 5.62 | 4.36 | — | — | — |
| P/FCF | 29.95 | 27.16 | 10.47 | 51.05 | — | 18.37 | 21.54 | 28.93 | — | — | — |
| P/OCF | 17.80 | 16.14 | 7.82 | 14.29 | 29.27 | 14.21 | 15.56 | 16.62 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.65 | 1.35 | 1.30 | 1.35 | 2.07 | 1.90 | 1.20 | — | — | — |
| EV / EBITDA | 12.74 | 11.71 | 18.69 | 15.43 | 10.35 | 14.36 | 149.43 | 10.04 | — | — | — |
| EV / EBIT | 16.62 | 15.17 | 32.78 | 25.73 | 12.35 | 18.23 | — | 12.75 | — | — | — |
| EV / FCF | — | 31.93 | 12.74 | 65.66 | — | 20.88 | 24.97 | 29.27 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 61.7% | 61.7% | 60.0% | 56.9% | 57.5% | 58.1% | 52.8% | 53.8% | 53.8% | 52.3% | 51.2% |
| Operating Margin | 10.8% | 10.8% | 4.2% | 5.7% | 10.5% | 11.9% | -1.9% | 9.8% | 9.7% | 9.8% | 10.2% |
| Net Profit Margin | 9.2% | 9.2% | 3.3% | 4.0% | 9.2% | 9.6% | -2.9% | 6.8% | 5.1% | 5.7% | 6.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 27.2% | 27.2% | 10.5% | 12.6% | 31.9% | 37.3% | -8.9% | 32.5% | 33.6% | 39.6% | 58.7% |
| ROA | 8.7% | 8.7% | 3.4% | 4.1% | 9.5% | 9.6% | -2.6% | 10.2% | 8.2% | 8.9% | 9.9% |
| ROIC | 13.9% | 13.9% | 5.4% | 7.2% | 14.6% | 18.5% | -3.1% | 29.9% | 32.6% | 28.1% | 27.5% |
| ROCE | 14.8% | 14.8% | 6.1% | 8.5% | 16.0% | 16.9% | -2.4% | 20.8% | 22.3% | 20.4% | 21.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.01 | 1.01 | 1.12 | 1.07 | 1.10 | 1.35 | 2.05 | 0.65 | 1.23 | 1.32 | 1.79 |
| Debt / EBITDA | 2.61 | 2.61 | 4.84 | 4.20 | 2.60 | 2.70 | 46.93 | 1.47 | 1.59 | 1.83 | 1.87 |
| Net Debt / Equity | — | 0.68 | 0.77 | 0.87 | 0.87 | 0.86 | 0.89 | 0.05 | 0.40 | 0.55 | 1.16 |
| Net Debt / EBITDA | 1.75 | 1.75 | 3.33 | 3.44 | 2.06 | 1.73 | 20.51 | 0.12 | 0.51 | 0.77 | 1.21 |
| Debt / FCF | — | 4.77 | 2.27 | 14.62 | — | 2.51 | 3.43 | 0.34 | 1.30 | 1.13 | 3.36 |
| Interest Coverage | 14.05 | 14.05 | 6.24 | 6.78 | 26.28 | 8.96 | -1.31 | 8.21 | 10.04 | 6.08 | 6.57 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.55 | 1.55 | 1.42 | 1.48 | 1.43 | 1.45 | 2.02 | 2.46 | 1.97 | 2.27 | 2.21 |
| Quick Ratio | 0.94 | 0.94 | 0.86 | 0.75 | 0.71 | 0.97 | 1.49 | 1.70 | 1.21 | 1.41 | 1.27 |
| Cash Ratio | 0.42 | 0.42 | 0.34 | 0.22 | 0.25 | 0.48 | 1.03 | 0.87 | 0.61 | 0.72 | 0.49 |
| Asset Turnover | — | 0.92 | 1.00 | 1.02 | 1.02 | 0.98 | 0.79 | 1.36 | 1.57 | 1.46 | 1.52 |
| Inventory Turnover | 1.94 | 1.94 | 2.24 | 2.06 | 1.85 | 2.69 | 2.57 | 3.01 | 2.92 | 3.08 | 3.10 |
| Days Sales Outstanding | — | 45.01 | 40.78 | 44.46 | 41.24 | 44.81 | 44.28 | 49.58 | 34.97 | 36.13 | 38.40 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.2% | 2.4% | 2.8% | 3.1% | 2.6% | 1.0% | 0.9% | 1.7% | — | — | — |
| Payout Ratio | 36.8% | 36.8% | 94.3% | 76.3% | 30.6% | 18.9% | — | 28.9% | 31.8% | 24.9% | 20.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.9% | 6.6% | 3.0% | 4.0% | 8.5% | 5.3% | — | 5.8% | — | — | — |
| FCF Yield | 3.3% | 3.7% | 9.5% | 2.0% | — | 5.4% | 4.6% | 3.5% | — | — | — |
| Buyback Yield | 1.5% | 1.7% | 1.3% | 0.1% | 2.6% | 0.8% | 0.8% | 0.6% | — | — | — |
| Total Shareholder Yield | 3.7% | 4.1% | 4.1% | 3.2% | 5.2% | 1.8% | 1.6% | 2.3% | — | — | — |
| Shares Outstanding | — | $400M | $402M | $402M | $404M | $410M | $397M | $408M | $393M | $393M | $385M |
DTC fixed cost exposure
Based on current market data, LEVI trades at a P/E of 16.92, which appears to reflect a premium valuation relative to its historical volatility, suggesting investors are pricing in the long-term margin expansion potential of the company's ongoing shift toward a direct-to-consumer retail model.
The current P/E multiple suggests that the market is willing to pay for the brand's durability, yet the lack of a clear PEG ratio indicates that investors may be struggling to reconcile stagnant top-line growth with the company's premium positioning. This valuation warrants caution, as it implies an expectation of margin stability that has not been consistently demonstrated in recent quarterly performance.
As reported in financial statements, LEVI's ROIC has fluctuated significantly, peaking at 4.7% in 2026Q1 while dipping to 0% in 2024Q1, indicating that the company is currently struggling to generate returns on invested capital that consistently exceed its likely cost of capital.
The volatility in ROIC suggests that the company's capital allocation, particularly regarding the expansion of physical retail footprints, has yet to yield the expected efficiency gains. Investors should monitor whether the recent improvement in ROIC is a sustainable trend or merely a byproduct of temporary inventory management adjustments.
According to the provided quarterly data, LEVI's cash conversion cycle has remained elevated, reaching 126 days in 2026Q1, which highlights a persistent challenge in managing inventory turnover relative to the company's payment terms with suppliers and collection cycles from wholesale partners.
The high days inventory outstanding, which peaked at 205 days in 2024Q2, suggests that the company may be carrying excessive stock, potentially exposing it to markdown risks if consumer preferences shift rapidly. This inefficiency in working capital management appears to be a structural drag on cash flow generation that requires further investigation.
Based on recent filings, LEVI has successfully reduced its debt-to-equity ratio from 1.20 in 2024Q3 to 0.48 in 2026Q1, indicating a significant improvement in the balance sheet structure that may provide a necessary buffer against future cyclical downturns in consumer spending.
The reduction in leverage is a positive development, as it lowers the interest coverage burden and provides management with greater flexibility to navigate the high fixed-cost environment of its DTC operations. However, investors should remain vigilant, as the company's ability to maintain this lower leverage profile depends heavily on its ability to generate consistent free cash flow.
The P/E ratio is frequently misapplied to LEVI, as it fails to account for the significant non-cash charges and restructuring costs that often distort net income, thereby obscuring the company's true underlying operational earning power in a transitionary retail environment.
Analysts should instead focus on EV/EBITDA or free cash flow yields, which better capture the cash-generating capacity of the business while stripping away the noise of accounting adjustments. Relying solely on P/E may lead to an inaccurate assessment of the company's valuation, especially given the volatility in its operating margins.
Includes 30+ ratios · 26 years · Updated daily
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Quick answers to the most common questions about buying LEVI stock.
Levi Strauss & Co.'s current P/E ratio is 17.0x. The historical average is 20.3x. This places it at the 33th percentile of its historical range.
Levi Strauss & Co.'s current EV/EBITDA is 12.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.4x.
Levi Strauss & Co.'s return on equity (ROE) is 27.2%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 34.6%.
Based on historical data, Levi Strauss & Co. is trading at a P/E of 17.0x. This is at the 33th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Levi Strauss & Co.'s current dividend yield is 2.16% with a payout ratio of 36.8%.
Levi Strauss & Co. has 61.7% gross margin and 10.8% operating margin. Operating margin between 10-20% is typical for established companies.
Levi Strauss & Co.'s Debt/EBITDA ratio is 2.6x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.