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V.F. Corporation

VFC
21
Apparel - Manufacturers · Consumer Cyclical
Price
$16.98
-0.50 (-2.86%)
Market Cap
$6.66B
Winston Score
21
Winston is worried
Weak fundamentals across most pillars.

V.F. Corporation is a large American clothing and footwear company that owns several well-known brands. Its biggest names include Vans (skateboarding-inspired shoes and apparel), The North Face (outdoor gear and jackets), and Timberland (boots and outdoor clothing). It sells to everyday consumers through its own stores, websites, and third-party retailers like department stores and sporting goods shops.

The company makes money by designing and marketing its brands, then selling products at wholesale to retailers or directly to shoppers online and in its own stores. V.F. Corporation operates globally, with significant sales in North America, Europe, and Asia, and generates roughly $11 billion in annual revenue. Its main competitive advantage is owning strong lifestyle brands with loyal customer bases, but the company has taken on heavy debt in recent years and is currently selling off brands and cutting costs to stabilize its finances — making debt reduction the central challenge facing the business today.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-4.6% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+63.9% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

0.2%ownership

Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~6 months

$429M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

V.F. Corporation has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.9% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 392.4M (2022) → 395.9M (2026)

Score breakdown

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Quality

Gross Margin
53.4%
Healthy — 53.4% gross margin
Operating Margin
-3.4%
Losing money on operations — -3.4%
ROCE
-1.3%
Weak — -1.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY
-0.3%
Shrinking sales (-0.3% YoY)
EPS YoY
N/A
Data not available
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion
-239%
Weak — only -239% of profit becomes cash
FCF Margin
-6.9%
Burning cash (-6.9%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity
2.67
Heavy debt load (2.67)
Interest Cover
2.55x
Tight — interest eats into profit (2.6x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

P/E Ratio (TTM)
30.3x
Pricey — P/E 30.3

P/E above the market average. People are paying up for expected growth.

P/E vs Forward
+18.2
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (30.3 → 12.1)

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Dividends

Dividend Yield
2.21%
Moderate income — 2.21% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth
+0.0%
Dividend flat

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