Cash flow V.F. Corporation

Equities

VFC

US9182041080

Apparel & Accessories

Real-time Estimate Cboe BZX Other stock markets 11:25:07 2024-09-16 am EDT			5-day change	1st Jan Change
18.37 ^USD	-1.76%		+4.61%	-2.18%

Sep. 06	Analyst recommendations: Broadcom, Qualcomm, Lululemon Athletica, Vertex Pharmaceuticals...
Aug. 16	UBS Adjusts Price Target on VF to $17 From $12, Maintains Neutral Rating	MT

77d26a651b21936352e85d4.9hkuy_c8YVeO-f04MdTXVvaiNH05PGtD616VwkBMW3s.xF9l_rRUCzq2u7NsBueQIr_pWExSV1Mcigr0jm0IIi6FaHm-m1EQAMCJig

Published financial data: V.F. CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2020	2021	2022	2023	2024
Revenues	10.49B	9.24B	11.84B	11.61B	10.45B
Total Revenues	10.49B	9.24B	11.84B	11.61B	10.45B
Cost of Goods Sold, Total	4.67B	4.33B	5.38B	5.51B	5.01B
Gross Profit	5.82B	4.91B	6.46B	6.1B	5.44B
Selling General & Admin Expenses, Total	4.53B	4.2B	4.78B	5.05B	4.82B
Other Operating Expenses, Total	4.53B	4.2B	4.78B	5.05B	4.82B
Operating Income	1.29B	711M	1.68B	1.05B	624M
Interest Expense, Total	-92.04M	-136M	-136M	-174M	-245M
Interest And Investment Income	19.87M	9.16M	5.01M	9.76M	21.63M
Net Interest Expenses	-72.18M	-126M	-131M	-165M	-223M
Currency Exchange Gains (Loss)	10.3M	-137K	-219K	-10.36M	-253K
Other Non Operating Income (Expenses)	-69.84M	-3.62M	4.81M	-18.16M	-1.9M
EBT, Excl. Unusual Items	1.16B	580M	1.55B	857M	398M
Restructuring Charges	-31.8M	-119M	-20M	-75.7M	-111M
Merger & Related Restructuring Charges	-	-8.7M	-	-	-
Impairment of Goodwill	-323M	-	-	-394M	-508M
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-42.36M	-	-	-
Asset Writedown	-14.6M	-35.16M	-6.4M	-344M	-39.4M
Legal Settlements	-	-	-	-	29.1M
Other Unusual Items	-59.77M	81.4M	-3.64M	-	-3.5M
EBT, Incl. Unusual Items	727M	456M	1.52B	43.29M	-234M
Income Tax Expense	98.06M	102M	307M	-75.3M	735M
Earnings From Continuing Operations	629M	355M	1.22B	119M	-969M
Earnings Of Discontinued Operations	50.3M	52.96M	171M	-	-
Net Income to Company	679M	408M	1.39B	119M	-969M
Net Income - (IS)	679M	408M	1.39B	119M	-969M
Net Income to Common Incl Extra Items	679M	408M	1.39B	119M	-969M
Net Income to Common Excl. Extra Items	629M	355M	1.22B	119M	-969M
Per Share Items
Net EPS - Basic	1.72	1.05	3.55	0.31	-2.49
Basic EPS - Continuing Operations	1.59	0.91	3.12	0.31	-2.49
Basic Weighted Average Shares Outstanding	395M	390M	390M	388M	388M
Net EPS - Diluted	1.7	1.05	3.53	0.31	-2.49
Diluted EPS - Continuing Operations	1.57	0.91	3.1	0.31	-2.49
Diluted Weighted Average Shares Outstanding	400M	392M	392M	388M	388M
Normalized Basic EPS	1.83	0.93	2.49	1.38	0.64
Normalized Diluted EPS	1.81	0.92	2.47	1.38	0.64
Dividend Per Share	1.9	1.94	1.98	1.81	0.78
Payout Ratio	110.19	185.55	55.75	592.7	-31.29
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	1.56B	968M	1.94B	1.3B	943M
EBITA	1.31B	728M	1.7B	1.06B	638M
EBIT	1.29B	711M	1.68B	1.05B	624M
EBITDAR	2.09B	1.49B	2.49B	1.86B	1.53B
Total Revenues (As Reported)	-	-	-	-	-
Effective Tax Rate - (Ratio)	13.48	22.25	20.15	-173.95	-314.61
Current Domestic Taxes	15.51M	31.84M	268M	-128M	371M
Current Foreign Taxes	157M	110M	197M	106M	760M
Total Current Taxes	173M	141M	464M	-21.74M	1.13B
Deferred Domestic Taxes	38.51M	-24.13M	-177M	-46.68M	-316M
Deferred Foreign Taxes	-113M	-15.68M	19.89M	-6.88M	-78.63M
Total Deferred Taxes	-74.5M	-39.81M	-157M	-53.55M	-395M
Normalized Net Income	723M	363M	971M	536M	249M
Interest on Long-Term Debt	1.02M	462K	513K	486K	457K
Non-Cash Pension Expense	9.11M	-21.46M	-21.56M	91.25M	3.16M
Supplemental Operating Expense Items
Advertising Expense	756M	608M	841M	862M	836M
Selling and Marketing Expenses	756M	608M	841M	862M	836M
Net Rental Expense, Total	534M	517M	551M	558M	584M
Imputed Operating Lease Interest Expense	98.37M	89.31M	85.01M	104M	147M
Imputed Operating Lease Depreciation	435M	428M	466M	454M	437M
Stock-Based Comp., Other (Total)	68.2M	70.82M	91.36M	60.35M	67.33M
Total Stock-Based Compensation	68.2M	70.82M	91.36M	60.35M	67.33M

Fiscal Period: March	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	1.37B	816M	1.28B	815M	675M
Short Term Investments	-	599M	-	-	-
Trading Asset Securities, Total	-	-	-	-	2.34M
Total Cash And Short Term Investments	1.37B	1.41B	1.28B	815M	677M
Accounts Receivable, Total	1.31B	1.3B	1.47B	1.61B	1.28B
Other Receivables	-	-	-	-	28.4M
Total Receivables	1.31B	1.3B	1.47B	1.61B	1.3B
Inventory	1.29B	1.06B	1.42B	2.29B	1.77B
Prepaid Expenses	-	-	-	-	111M
Restricted Cash	2.05M	1.2M	1.11M	1.3M	-
Other Current Assets, Total	1.05B	1.01B	423M	431M	368M
Total Current Assets	5.03B	4.79B	4.59B	5.15B	4.23B
Gross Property Plant And Equipment	3.2B	3.51B	3.38B	3.39B	3.29B
Accumulated Depreciation	-970M	-1.06B	-1.09B	-1.08B	-1.13B
Net Property Plant And Equipment	2.23B	2.45B	2.29B	2.31B	2.15B
Long-term Investments	11.42M	13.83M	14.36M	27.54M	39.76M
Goodwill	1.16B	2.43B	2.39B	1.98B	1.46B
Other Intangibles, Total	2.06B	3.29B	3.32B	2.99B	2.93B
Deferred Tax Assets Long-Term	183M	201M	101M	95.12M	390M
Deferred Charges Long-Term	31.98M	34.61M	34.68M	27.43M	26.36M
Other Long-Term Assets, Total	437M	548M	604M	1.4B	386M
Total Assets	11.13B	13.75B	13.34B	13.99B	11.61B
Liabilities
Accounts Payable, Total	407M	463M	563M	936M	817M
Accrued Expenses, Total	747M	947M	947M	850M	784M
Short-term Borrowings	1.23B	11.06M	335M	11.49M	264M
Current Portion of Long-Term Debt	-	-	500M	923M	1B
Current Portion of Leases	354M	405M	355M	333M	310M
Current Income Taxes Payable	96.46M	115M	424M	314M	113M
Unearned Revenue Current, Total	-	-	71.07M	62.21M	67.12M
Other Current Liabilities	191M	269M	119M	114M	101M
Total Current Liabilities	3.02B	2.21B	3.32B	3.55B	3.46B
Long-Term Debt	2.59B	5.69B	4.57B	5.69B	4.69B
Long-Term Leases	1.04B	1.25B	1.04B	1.19B	1.17B
Pension & Other Post Retirement Benefits	171M	167M	111M	72.82M	78.63M
Deferred Tax Liability Non Current	161M	343M	150M	108M	10.08M
Other Non Current Liabilities	791M	1.03B	627M	471M	550M
Total Liabilities	7.78B	10.7B	9.81B	11.08B	9.95B
Common Stock, Total	97.2M	97.98M	97.08M	97.17M	97.21M
Additional Paid In Capital	4.18B	3.78B	3.92B	3.78B	3.6B
Retained Earnings	7.31M	190M	443M	57.09M	-975M
Comprehensive Income and Other	-931M	-1.01B	-927M	-1.02B	-1.06B
Total Common Equity	3.36B	3.06B	3.53B	2.91B	1.66B
Total Equity	3.36B	3.06B	3.53B	2.91B	1.66B
Total Liabilities And Equity	11.13B	13.75B	13.34B	13.99B	11.61B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	389M	392M	388M	389M	389M
ECS Total Common Shares Outstanding	389M	392M	388M	389M	389M
Book Value / Share	8.63	7.8	9.09	7.49	4.26
Tangible Book Value	143M	-2.66B	-2.18B	-2.06B	-2.73B
Tangible Book Value Per Share	0.37	-6.8	-5.62	-5.3	-7.02
Total Debt	5.21B	7.36B	6.8B	8.15B	7.43B
Net Debt	3.84B	5.95B	5.52B	7.34B	6.76B
Debt Equivalent of Unfunded Proj. Benefit Obligation	14M	-13.7M	-85.72M	-90.38M	-89.88M
Debt Equivalent Oper. Leases	4.27B	4.14B	4.41B	4.46B	4.67B
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	24.75M	23.98M	14.42M	13.07M	8.15M
Inventories - Work In Process, Total	67.6M	54.39M	50.77M	39.51M	39.54M
Inventories - Finished Goods, Total	1.2B	983M	1.35B	2.24B	1.72B
Land - (BS)	83.94M	78.03M	91.05M	69.4M	65.89M
Buildings, Total	859M	949M	966M	897M	886M
Machinery, Total	982M	1.01B	1.07B	1.05B	1.01B
Full Time Employees	48K	27.2K	20.3K	19.8K	18K
Part Time Employees	-	12.8K	14.7K	13.2K	12K
Accumulated Allowance for Doubtful Accounts (Supple)	37.1M	33.65M	27.96M	28.08M	26.37M

Fiscal Period: March	2020	2021	2022	2023	2024
Net Income	679M	408M	1.39B	119M	-969M
Depreciation & Amortization - CF	249M	240M	244M	240M	305M
Amortization of Goodwill and Intangible Assets - (CF)	18.7M	17.5M	15.6M	14.1M	13.8M
Depreciation & Amortization, Total	268M	258M	260M	254M	319M
(Gain) Loss From Sale Of Asset	-	-	-	-	-
Asset Writedown & Restructuring Costs	323M	31.63M	7.02M	743M	508M
Stock-Based Compensation (CF)	68.2M	70.82M	91.36M	60.35M	67.33M
Provision and Write-off of Bad Debts	32.93M	20.67M	-716K	3.53M	11.17M
Net Cash From Discontinued Operations	74.08M	79.97M	6.09M	-	-
Other Operating Activities, Total	414M	324M	32.3M	397M	910M
Change In Accounts Receivable	-5.95M	70.47M	-203M	-147M	325M
Change In Inventories	-141M	314M	-381M	-890M	509M
Change In Accounts Payable	-73.67M	20.11M	105M	377M	-106M
Change In Income Taxes	-61.74M	-35.59M	201M	-1.15B	-155M
Change in Other Net Operating Assets	-703M	-249M	-642M	-424M	-404M
Cash from Operations	875M	1.31B	864M	-656M	1.01B
Capital Expenditure	-288M	-199M	-245M	-166M	-146M
Sale of Property, Plant, and Equipment	-	-	-	99.5M	26.62M
Cash Acquisitions	-	-2.01B	3.76M	-	-
Divestitures	-	-	617M	-	-
Sale (Purchase) of Intangible assets	-45.65M	-75.54M	-82.87M	-95.33M	-65.17M
Investment in Marketable and Equity Securities, Total	-	-600M	599M	-	-
Other Investing Activities, Total	31.79M	-12.27M	12.56M	-26.3M	12.11M
Cash from Investing	-302M	-2.9B	904M	-188M	-172M
Short Term Debt Issued, Total	577M	-	324M	-	255M
Long-Term Debt Issued, Total	1.08B	3B	-	2.06B	-
Total Debt Issued	1.65B	3B	324M	2.06B	255M
Short Term Debt Repaid, Total	-	-1.22B	-	-324M	-
Long-Term Debt Repaid, Total	-649M	-1.66M	-504M	-501M	-908M
Total Debt Repaid	-649M	-1.22B	-504M	-825M	-908M
Issuance of Common Stock	155M	54.44M	36.65M	-	-
Repurchase of Common Stock	-1B	-	-350M	-2.79M	-2.85M
Common Dividends Paid	-749M	-757M	-773M	-703M	-303M
Common & Preferred Stock Dividends Paid	-749M	-757M	-773M	-703M	-303M
Other Financing Activities, Total	899M	-21.44M	-2.5M	-63.77M	-576K
Cash from Financing	310M	1.05B	-1.27B	464M	-960M
Foreign Exchange Rate Adjustments	-27.48M	-30.6M	-73.3M	-80.82M	-22.07M
Net Change in Cash	855M	-560M	426M	-461M	-139M
Supplemental Items
Cash Interest Paid	76.54M	89.81M	123M	160M	234M
Cash Income Tax Paid (Refund)	287M	188M	264M	1.11B	350M
Levered Free Cash Flow	807M	1.05B	1.38B	-272M	805M
Unlevered Free Cash Flow	865M	1.14B	1.46B	-163M	958M
Change In Net Working Capital	-57.44M	-640M	-390M	873M	-393M
Net Debt Issued / Repaid	1B	1.78B	-180M	1.23B	-653M

Fiscal Period: March	2020	2021	2022	2023	2024
Profitability
Return on Assets	7.49	3.57	7.75	4.8	3.05
Return on Total Capital	10.29	4.68	10.12	6.14	3.87
Return On Equity %	16.44	11.07	36.93	3.68	-42.41
Return on Common Equity	16.44	11.07	36.93	3.68	-42.41
Margin Analysis
Gross Profit Margin %	55.46	53.17	54.53	52.54	52.05
SG&A Margin	43.18	45.48	40.34	43.5	46.08
EBITDA Margin %	14.83	10.48	16.38	11.23	9.02
EBITA Margin %	12.46	7.88	14.32	9.16	6.1
EBIT Margin %	12.28	7.69	14.19	9.04	5.97
Income From Continuing Operations Margin %	6	3.84	10.27	1.02	-9.27
Net Income Margin %	6.48	4.41	11.71	1.02	-9.27
Net Avail. For Common Margin %