VFCV F CORP
Men's & Boys' Furnishgs, Work Clothg, & Allied Garments
- Revenue
- $9.6B
- 1.1% YoY
- Operating margin
- 6.0%
- 88% YoY
- EBITDA
- $857M
- 52% YoY
- Market cap
- $7.2B
- Employees
- —
- Net debt / EBITDA
- 3.0×
- $2.6B net debt
- AI in 10-K
- 3.3
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 2 of 7
- TSR below peersYes5 of 5 years3+ of last 5 years
- High CEO pay despite TSRYes$19M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo263% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo21% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo6% of assetsOver 40% of assets
- Shareholder dissentNo86% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo3.3 per 10K words · 73rd pctBottom quartile of AI mentions in 10-Ks
- Net cashNo3.0× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedNo$7.2B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$1M netNet sales over $10M in 12 months
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $11.8B | $11.1B | $9.9B | $9.5B | $9.6B | 1.1% |
| Operating income | $1.6B | $999M | −$144M | $304M | $577M | 90% |
| Net income | $1.4B | $119M | −$969M | −$190M | $255M | 234% |
| Operating cash flow | $864M | −$656M | $1.0B | $465M | $671M | 44% |
| Stock-based comp | $91M | $40M | $58M | $73M | $77M | 5.1% |
| Buybacks | $350M | $0 | $0 | — | — | |
| Dividends | $773M | $703M | $303M | $140M | $141M | 0.4% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $1M · 3
- Open-market sells, 12 mo
- $142K · 1
- Net
- $1M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | $19M | $25M | 24 | 57 |
| FY2025 | — | — | 23 | 56 |
| FY2024 | — | — | 22 | 65 |
| FY2023 | — | — | 31 | 67 |
| FY2022 | — | — | 73 | 84 |