| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 94 | — | 17.8x | Top tier | |
Growth | 14 | 1.6% | 7.1% | Bottom tier | |
Quality | 44 | -1.1% | 4.5% | Around median | |
Safety | 56 | 4.7x | 2.6x | Around median | |
Capital Return | 28 | 0.21% | 2.12% | Bottom tier | |
Momentum | 47 | 3.0% | 2.9% | Around median | |
Sentiment | 76 | 7 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
PVH Corp. owns and operates the Calvin Klein and Tommy Hilfiger brands and generates revenue through direct-to-consumer sales in stores and e-commerce, wholesale, and licensing. Licensing is a high-value business that generates more than $350 million in annual revenue and supports more than $3 billion in global net sales for licensees, while the company focuses its core products on categories such as denim, underwear, jackets, shirts and polos, and transitional outerwear.
In fiscal Q2 2026, revenue was $2.097 billion, down 3% according to management's presentation and 3.2% according to the news report published on September 3, 2026, while gross profit was approximately $1.3 billion according to EDGAR data. Gross margin was 63%, up 35 basis points, but benefited by $107 million from customs refunds; excluding them, gross margin increased by only about 20 basis points. The net loss was approximately $102.9 million according to EDGAR, and GAAP earnings per share were negative $2.23, affected by a $439 million non-cash goodwill impairment charge, while adjusted earnings per share were $3.70, exceeding expectations of $3.08 and including a benefit of approximately $1.80 from customs refunds.
The fiscal Q2 2026 mix reflects clear geographic and channel disparities: Asia Pacific revenue increased 3%, the Americas declined 1%, and Europe, the Middle East, and Africa fell 6%. Direct-to-consumer revenue was flat, e-commerce grew 4% on a reported basis, while stores declined 1%, wholesale fell 6%, and licensing decreased 13% due to the North America licensing transition. By brand, reported Tommy Hilfiger revenue was flat and Calvin Klein revenue declined 7%, but revenue for each fell approximately 3% after excluding the effects of the licensing transition and the timing of related wholesale shipments.
The stock has a consensus "Buy" rating with an average price target of $93.4 and a wide range of $78 to $121; the average is below the 52-week high of $100.75, while the highest target exceeds that high. No usable positive price-to-earnings ratio is available, consistent with the trailing-twelve-month loss of $169 million and negative earnings per share of approximately $3.67. Analysts' view of value therefore depends on adjusted earnings improvement and execution of the PVH+ plan, while the wide range of targets, goodwill impairment charges, and pressure in Europe remain factors warranting caution.
Figures in the text are as of 2026-09-04; the live price is shown at the top of the page.
EDGAR data showed a net loss of $102.9 million and GAAP earnings per share of negative $2.23 in fiscal Q2 2026. This was related to a $439 million non-cash goodwill impairment charge resulting from changes in valuation assumptions associated with geopolitical and macroeconomic factors. In contrast, adjusted earnings per share were $3.70 versus expectations of $3.08, but included a benefit of approximately $1.80 from customs refunds. Therefore, the accounting loss and adjusted earnings reflect two different measures, and one should not be used as a substitute for the other.
Calvin Klein denim grew by more than 10% globally in fiscal Q2 2026, with average unit retail price increasing by more than 10%, while underwear grew by a low-single-digit percentage. The Jung Kook collaboration achieved 5 billion social media impressions and a global sell-through rate exceeding 90%. At Tommy Hilfiger, jackets grew by more than 10%, shirts and polos by mid-single-digit percentages, and linen by more than 30% across regions. The Always Denim campaign with Romeo Beckham also increased direct-to-consumer jeans sales in North America and Europe by approximately 30% during the first month after its launch in July 2026.
Automated analysis for informational purposes only — not investment advice.
Revenue in Europe, the Middle East, and Africa declined 6% in fiscal Q2 2026, with wholesale falling by a high-single-digit percentage. Management attributed the pressure to weak consumer demand and the direct and indirect effects of the conflict in the Middle East, while direct-to-consumer sales declined by a low-single-digit percentage. In contrast, e-commerce in the region grew by a mid-single-digit percentage, and direct-to-consumer performance improved compared with fiscal Q1 2026. The risk extends into the fiscal spring 2027 season, as the European wholesale order book declined by a mid-single-digit percentage.
Management expects approximately flat reported revenue and a slight decline in constant currency during fiscal 2026. It also maintained operating margin guidance at approximately 8.8% and adjusted earnings per share guidance of $11.80 to $12.10, with this range including the impact of the customs refunds recorded in Q2. For fiscal Q3 2026, it expects a low-single-digit revenue decline, an operating margin of approximately 7.5%, and earnings per share of $2.50 to $2.65. The company expects growth in the Americas and Asia Pacific during fiscal 2026, compared with continued pressure in Europe, the Middle East, and Africa.
PVH's licensing business generates more than $350 million in annual revenue and supports more than $3 billion in global net sales for licensees. Reported licensing revenue declined 13% in fiscal Q2 2026 due to the transition of women's wholesale categories in North America. Excluding this transition, the ongoing licensing business grew by a low-single-digit percentage. Management expects the transition to be largely completed by the end of fiscal 2026, with the remaining portfolio continuing to grow during that year.
The debt-to-equity ratio was 0.87 according to the news report published on September 3, 2026, and interest expense was $12 million in fiscal Q2 2026. Management lowered its expected annual net interest expense to approximately $70 million from $75 million. The company plans capital expenditures of approximately $250 million, or about 3% of sales, on e-commerce, stores, and shop-in-shop renovations. It also expects to repurchase at least $300 million of shares during fiscal 2026.
