PVH Corp.
Find Ratings ReportsPVH CORP's gross profit margin for the third quarter of its fiscal year 2023 is essentially unchanged when compared to the same period a year ago. The company has grown sales and net income during the past quarter when compared with the same quarter a year ago, however, it was unable to keep up with the growth of the average competitor within its subsector. PVH CORP has very weak liquidity. Currently, the Quick Ratio is 0.50 which clearly shows a lack of ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year.
At the same time, stockholders' equity ("net worth") has remained virtually unchanged only increasing by 4.80% from the same quarter last year. The key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the near future.
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Income Statement | Q3 FY23 | Q3 FY22 |
---|---|---|
Net Sales ($mil) | 2362.9 | 2280.8 |
EBITDA ($mil) | 309.6 | 279.0 |
EBIT ($mil) | 234.4 | 205.9 |
Net Income ($mil) | 161.6 | -186.7 |
Balance Sheet | Q3 FY23 | Q3 FY22 |
---|---|---|
Cash & Equiv. ($mil) | 359.0 | 457.4 |
Total Assets ($mil) | 11167.1 | 11405.9 |
Total Debt ($mil) | 3659.6 | 3639.9 |
Equity ($mil) | 5054.3 | 4822.8 |
Profitability | Q3 FY23 | Q3 FY22 |
---|---|---|
Gross Profit Margin | 59.87 | 59.07 |
EBITDA Margin | 13.1 | 12.23 |
Operating Margin | 9.92 | 9.03 |
Sales Turnover | 0.83 | 0.79 |
Return on Assets | 4.75 | 3.96 |
Return on Equity | 10.5 | 9.38 |
Debt | Q3 FY23 | Q3 FY22 |
---|---|---|
Current Ratio | 1.18 | 1.35 |
Debt/Capital | 0.42 | 0.43 |
Interest Expense | 24.3 | 21.1 |
Interest Coverage | 9.65 | 9.76 |
Share Data | Q3 FY23 | Q3 FY22 |
---|---|---|
Shares outstanding (mil) | 59.92 | 63.81 |
Div / share | 0.04 | 0.04 |
EPS | 2.66 | -2.88 |
Book value / share | 84.35 | 75.58 |
Institutional Own % | n/a | n/a |
Avg Daily Volume | 790058.0 | 934174.0 |
BUY. PVH CORP's P/E ratio indicates a significant discount compared to an average of 39.40 for the Apparel Manufacturing subsector and a significant discount compared to the S&P 500 average of 27.95. For additional comparison, its price-to-book ratio of 1.56 indicates a significant discount versus the S&P 500 average of 4.68 and a significant discount versus the subsector average of 9.67. The price-to-sales ratio is well below both the S&P 500 average and the subsector average, indicating a discount. Upon assessment of these and other key valuation criteria, PVH CORP proves to trade at a discount to investment alternatives.
Price/Earnings |
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Price/Cash Flow |
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PVH 15.48 | Peers 39.40 | PVH 12.94 | Peers 19.79 | |||||||||||||||||||||
Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations. PVH is trading at a significant discount to 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. |
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Price/Projected Earnings |
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Price to Earnings/Growth |
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PVH 10.94 | Peers 22.28 | PVH 0.06 | Peers 1.64 | |||||||||||||||||||||
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 significant 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 significant discount to its peers. |
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Price/Book |
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Earnings Growth |
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PVH 1.56 | Peers 9.67 | PVH 34.38 | Peers -13.15 | |||||||||||||||||||||
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. |
Higher. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios. PVH is expected to have an earnings growth rate that significantly exceeds its peers. |
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Price/Sales |
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Sales Growth |
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PVH 0.85 | Peers 3.67 | PVH 2.80 | Peers 12.06 | |||||||||||||||||||||
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 subsector on this measurement. |
Lower. A sales growth rate that trails the subsector implies that a company is losing market share. PVH significantly trails its peers on the basis of sales growth. |
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