PVH : NYSE : Consumer Goods
$127.46 -0.55 | -0.43%
Today's Range: 126.5 - 128.7
Avg. Daily Volume: 875600.0
09/19/17 - 3:41 PM ET

Financial Analysis


PVH CORP's gross profit margin for the second quarter of its fiscal year 2017 is essentially unchanged when compared to the same period a year ago. The company managed to grow both sales and net income at a faster pace than the average competitor in its industry this quarter as compared to the same quarter a year ago. PVH CORP has weak liquidity. Currently, the Quick Ratio is 0.75 which shows a lack of ability to cover short-term cash needs. The liquidity decreased from the same period a year ago, despite already having weak liquidity to begin with. This would indicate deteriorating cash flow.

During the same period, stockholders' equity ("net worth") has increased by 6.07% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the future.

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Income Statement Q2 FY17 Q2 FY16
Net Sales ($mil)2069.91933.3
EBITDA ($mil)278.6262.8
EBIT ($mil)198.0180.2
Net Income ($mil)119.790.5


Balance Sheet Q2 FY17 Q2 FY16
Cash & Equiv. ($mil)559.4741.7
Total Assets ($mil)11453.911179.8
Total Debt ($mil)3203.73377.6
Equity ($mil)5095.24803.5


Profitability Q2 FY17 Q2 FY16
Gross Profit Margin59.3257.97
EBITDA Margin13.4513.59
Operating Margin9.579.32
Sales Turnover0.730.73
Return on Assets3.646.06
Return on Equity8.1814.11
Debt Q2 FY17 Q2 FY16
Current Ratio1.82.12
Debt/Capital0.390.41
Interest Expense30.929.2
Interest Coverage6.416.17


Share Data Q2 FY17 Q2 FY16
Shares outstanding (mil)77.5780.33
Div / share0.040.04
EPS1.521.11
Book value / share65.6859.8
Institutional Own % n/a n/a
Avg Daily Volume871300.01193878.0

Valuation


BUY. The current P/E ratio indicates a premium compared to an average of 23.54 for the Textiles, Apparel & Luxury Goods industry and a value on par with the S&P 500 average of 24.88. To use another comparison, its price-to-book ratio of 1.92 indicates a discount versus the S&P 500 average of 3.10 and a significant discount versus the industry average of 5.47. The price-to-sales ratio is well below both the S&P 500 average and the industry average, indicating a discount.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
PVH 24.17 Peers 23.54   PVH 13.06 Peers 18.16

Average. An average P/E ratio can signify an industry neutral price for a stock and an average growth expectation.

PVH is trading at a valuation on par with its peers.

 

Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

PVH is trading at a significant discount to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
PVH 14.55 Peers 19.98   PVH 1.80 Peers 2.03

Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations.

PVH is trading at a discount to its peers.

 

Discount. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

PVH trades at a discount to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
PVH 1.92 Peers 5.47   PVH -36.53 Peers 2.69

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

PVH is trading at a significant discount to its peers.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, PVH is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
PVH 1.17 Peers 2.17   PVH 3.47 Peers 8.08

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

PVH is trading at a significant discount to its industry on this measurement.

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

PVH significantly trails its peers on the basis of sales growth

 

 

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