Latest Ratios: P/E Ratio 145.4x · EV/EBITDA 29.1x · ROE 0.5%. (1996–2025 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 | $3.6B | $3.0B | $5.1B | $7.4B | $6.0B | $6.8B | $6.1B | $6.5B | $8.4B | $12.5B | $7.6B |
| Enterprise Value | $7.2B | $6.6B | $7.7B | $10.2B | $9.2B | $9.5B | $9.8B | $10.7B | $10.8B | $15.1B | $10.1B |
| P/E Ratio → | 145.38 | 117.66 | 8.48 | 11.18 | 29.67 | 7.18 | — | 15.59 | 11.30 | 23.11 | 13.82 |
| P/S Ratio | 0.40 | 0.33 | 0.59 | 0.80 | 0.66 | 0.75 | 0.85 | 0.66 | 0.87 | 1.41 | 0.93 |
| P/B Ratio | 0.77 | 0.62 | 0.99 | 1.45 | 1.19 | 1.29 | 1.28 | 1.12 | 1.45 | 2.27 | 1.58 |
| P/FCF | 6.60 | 5.55 | 8.73 | 10.24 | — | 8.50 | 12.89 | 9.63 | 17.83 | 36.72 | 10.72 |
| P/OCF | 5.22 | 4.39 | 6.86 | 7.65 | 151.82 | 6.38 | 8.70 | 6.37 | 9.89 | 17.93 | 7.95 |
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 | — | 0.74 | 0.89 | 1.11 | 1.02 | 1.04 | 1.38 | 1.08 | 1.12 | 1.70 | 1.23 |
| EV / EBITDA | 29.12 | 26.82 | 7.98 | 8.22 | 7.68 | 7.44 | 35.54 | 12.10 | 8.40 | 15.26 | 9.54 |
| EV / EBIT | 10.89 | 26.82 | 9.62 | 10.86 | 19.32 | 8.85 | — | 19.13 | 11.35 | 22.69 | 13.71 |
| EV / FCF | — | 12.23 | 13.27 | 14.14 | — | 11.88 | 20.86 | 15.78 | 22.86 | 44.29 | 14.23 |
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 | 57.5% | 57.5% | 59.1% | 58.0% | 56.4% | 58.1% | 52.7% | 54.1% | 55.1% | 55.1% | 53.1% |
| Operating Margin | 7.3% | 7.3% | 7.9% | 10.3% | 10.0% | 10.6% | -0.7% | 5.6% | 9.9% | 7.5% | 9.0% |
| Net Profit Margin | 0.3% | 0.3% | 6.9% | 7.2% | 2.2% | 10.4% | -15.9% | 4.2% | 7.7% | 6.0% | 6.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 0.5% | 0.5% | 11.7% | 13.1% | 3.9% | 19.0% | -21.6% | 7.2% | 13.1% | 10.4% | 11.7% |
| ROA | 0.2% | 0.2% | 5.4% | 5.8% | 1.7% | 7.4% | -8.4% | 3.3% | 6.3% | 4.7% | 5.0% |
| ROIC | 6.1% | 6.1% | 6.5% | 8.8% | 8.3% | 8.8% | -0.4% | 4.6% | 8.7% | 6.5% | 7.6% |
| ROCE | 7.5% | 7.5% | 8.2% | 10.9% | 9.7% | 9.5% | -0.4% | 5.2% | 9.5% | 6.8% | 7.9% |
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 | 0.90 | 0.90 | 0.66 | 0.69 | 0.76 | 0.75 | 1.14 | 0.80 | 0.49 | 0.56 | 0.67 |
| Debt / EBITDA | 17.51 | 17.51 | 3.50 | 2.84 | 3.19 | 3.08 | 19.55 | 5.28 | 2.20 | 3.11 | 3.04 |
| Net Debt / Equity | — | 0.75 | 0.51 | 0.55 | 0.65 | 0.51 | 0.79 | 0.71 | 0.41 | 0.47 | 0.52 |
| Net Debt / EBITDA | 14.65 | 14.65 | 2.73 | 2.27 | 2.73 | 2.11 | 13.58 | 4.71 | 1.85 | 2.61 | 2.35 |
| Debt / FCF | — | 6.68 | 4.54 | 3.90 | — | 3.37 | 7.97 | 6.15 | 5.03 | 7.57 | 3.51 |
| Interest Coverage | 2.61 | 2.61 | 8.29 | 9.20 | 5.33 | 10.21 | -0.43 | 4.69 | 7.81 | 5.45 | 6.75 |
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 | 1.52 | 1.52 | 1.27 | 1.18 | 1.29 | 1.31 | 1.53 | 1.44 | 1.71 | 1.62 | 1.84 |
| Quick Ratio | 0.85 | 0.85 | 0.72 | 0.66 | 0.64 | 0.83 | 0.98 | 0.75 | 0.80 | 0.77 | 1.00 |
| Cash Ratio | 0.30 | 0.30 | 0.27 | 0.26 | 0.20 | 0.45 | 0.64 | 0.21 | 0.24 | 0.26 | 0.47 |
| Asset Turnover | — | 0.77 | 0.78 | 0.83 | 0.77 | 0.74 | 0.54 | 0.73 | 0.81 | 0.75 | 0.74 |
| Inventory Turnover | 2.40 | 2.40 | 2.35 | 2.73 | 2.18 | 2.84 | 2.38 | 2.81 | 2.50 | 2.52 | 2.92 |
| Days Sales Outstanding | — | 41.51 | 36.96 | 31.96 | 38.23 | 30.51 | 34.11 | 28.18 | 30.38 | 28.51 | 28.54 |
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 | 0.2% | 0.3% | 0.2% | 0.1% | 0.2% | 0.0% | 0.0% | 0.2% | 0.1% | 0.1% | 0.2% |
| Payout Ratio | 29.6% | 29.6% | 1.4% | 1.4% | 5.0% | 0.3% | — | 2.7% | 1.6% | 2.2% | 2.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.7% | 0.8% | 11.8% | 8.9% | 3.4% | 13.9% | — | 6.4% | 8.9% | 4.3% | 7.2% |
| FCF Yield | 15.2% | 18.0% | 11.5% | 9.8% | — | 11.8% | 7.8% | 10.4% | 5.6% | 2.7% | 9.3% |
| Buyback Yield | 16.3% | 19.3% | 10.3% | 7.7% | 7.0% | 5.3% | 1.9% | 5.3% | 3.9% | 2.1% | 4.2% |
| Total Shareholder Yield | 16.5% | 19.6% | 10.5% | 7.8% | 7.2% | 5.3% | 2.0% | 5.5% | 4.0% | 2.2% | 4.4% |
| Shares Outstanding | — | $48M | $57M | $62M | $66M | $72M | $71M | $75M | $77M | $81M | $81M |
Inventory and Wholesale Volatility
Based on current market data, PVH trades at a forward P/E of 6.82, which appears to reflect a significant conglomerate discount compared to peers like Ralph Lauren, suggesting investors are pricing in structural risks rather than the underlying potential of its global premium brand portfolio.
The disparity between the TTM P/E of 140.34 and the forward multiple indicates that the market is heavily discounting recent non-recurring charges and restructuring costs. This valuation suggests that the market remains skeptical of the company's ability to sustain margin expansion, viewing the current earnings profile as temporarily depressed rather than structurally impaired.
According to historical financial data, PVH's ROIC has trended downward from 3.3% in 2023Q4 to 1.1% in 2026Q1, indicating that the company is struggling to generate meaningful returns on its invested capital as it navigates a complex transition toward a direct-to-consumer model.
The persistent decay in ROIC suggests that the capital deployed into brand marketing and retail expansion is not yet yielding commensurate returns. Investors should monitor whether the 'PVH+' plan can improve asset utilization, as current returns remain well below the cost of capital, potentially signaling inefficient capital allocation.
As reported in recent quarterly filings, PVH's cash conversion cycle has remained volatile, with days inventory outstanding reaching 162 days in 2026Q1, highlighting significant challenges in managing fashion risk and inventory turnover compared to more agile, lean-inventory competitors within the apparel manufacturing sector.
The extended DIO suggests that the company may be carrying excess stock, which increases the risk of future markdowns and margin erosion. The inability to consistently tighten the cash conversion cycle implies that working capital remains a primary drag on free cash flow generation and overall operational efficiency.
Based on a comparison with industry peers, PVH's net margin of 0.28% significantly lags behind Ralph Lauren's 11.6%, illustrating a structural gap in profitability that likely stems from PVH's higher exposure to lower-margin wholesale channels and ongoing corporate restructuring costs.
While PVH shares a similar 'American Lifestyle' brand architecture with its peers, the divergence in profitability metrics suggests that its operational model is less optimized for full-price selling. This gap warrants further investigation into whether the company's international segment can eventually offset the margin dilution caused by its domestic wholesale operations.
The most commonly misapplied metric for PVH is the GAAP P/E ratio, which obscures the company's true earning power by including significant non-recurring restructuring charges and divestiture-related costs that do not reflect the ongoing cash-generating capability of the core Calvin Klein and Tommy Hilfiger brands.
Analysts should instead focus on adjusted EBITDA and free cash flow to better gauge the underlying health of the business. Relying on GAAP earnings in this context leads to a distorted view of the company's valuation, as it fails to account for the high-margin, capital-light licensing revenue that provides a structural floor to earnings.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying PVH stock.
PVH Corp.'s current P/E ratio is 145.4x. The historical average is 24.0x. This places it at the 100th percentile of its historical range.
PVH Corp.'s current EV/EBITDA is 29.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.2x.
PVH Corp.'s return on equity (ROE) is 0.5%. The historical average is 8.5%.
Based on historical data, PVH Corp. is trading at a P/E of 145.4x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
PVH Corp.'s current dividend yield is 0.20% with a payout ratio of 29.6%.
PVH Corp. has 57.5% gross margin and 7.3% operating margin.
PVH Corp.'s Debt/EBITDA ratio is 17.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.