"We are systematically remaking the company for long-term value creation... We're building new structures and processes to be more effective, more efficient and in the end, more creative." - Bracken Darrell
— Bracken Darrell
03Detailed Report
VFC
VF Corporation
Period
Q3 2025
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 26, 2026
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Executive Summary
VF Corporation's Q3 2025 results showcased a solid revenue growth of 2% year-over-year, reaching $2.83 billion, driven by an impressive performance from brands like North Face and Timberland. The management emphasized a significant improvement in profitability, evident in net income soaring by 140% to $168 million and operating income rising to $226 million, reflecting operational efficiency and strategic cost control initiatives. VF's ongoing transformation is yielding measurable results, with gross margins increasing by 150 basis points and operating margins up 360 basis points to over 11%. Overall, management expressed optimism regarding the second half of the year, despite anticipating a slight deceleration in Q4, and reiterated their commitment to achieving long-term sustainable growth and enhancing shareholder value.
### Key Insights
- The Americas region showed significant improvement, marking the first positive revenue growth in over two years.
- DTC channel performance improved sequentially, although wholesale performance was a significant driver of the quarter's growth.
- Management aims for operating margins of at least 10% by fiscal 2028, with a focus on continued cost reduction and efficiency measures.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
2.83B
19.14%
2.75%
Gross Profit
1.60B
38.39%
10.73%
Operating Income
225.78M
163.46%
-17.57%
Net Income
167.78M
140.11%
221.55%
EPS
0.43
139.81%
230.77%
Key Financial Ratios
Gross Profit Margin
Good
56.30%
Gross profit margin is healthy and competitive within industry standards
Operating Profit Margin
Fair
7.97%
Operating margin is moderate, room for improvement in cost management
Net Profit Margin
Fair
5.92%
Net profit margin is moderate, room for improvement in cost management
Return on Assets
Weak
1.59%
Return on assets suggests inefficient capital allocation
Return on Equity
Fair
9.99%
Return on equity is acceptable but below top-tier companies
Current Ratio
Healthy
1.56
Current ratio shows adequate liquidity to meet short-term obligations
Debt to Equity
High Risk
3.42
Debt-to-equity indicates high leverage and elevated financial risk
P/E Ratio
Value
12.63x
P/E ratio suggests potential undervaluation or stable earnings
Price to Book
Premium
5.04x
Trading at premium to book value, reflects strong intangibles or growth
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