ABERCROMBIE & FITCH CO /DE/ financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data ABERCROMBIE & FITCH CO /DE/ files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	3,327	3,493	3,590	3,623	3,125	3,713	3,698	4,281	4,949	5,266
Cost of revenue	1,298	1,409	1,430	1,472	1,234	1,401	1,593	1,587	1,774	2,029
Gross profit	2,029	2,084	2,160	2,151	1,891	2,312	2,105	2,693	3,175	3,237
Selling and marketing							189	217	271	308
General and administrative							553	681	750	725
Operating income	15.2	72.1	127	70.1	-20.5	343	92.6	485	741	699
Interest expense	23.1	23	22.8	19.9	31.7	38	30.2	30.4
Interest income	-4.41	-6.08	11.8	12.2	3.45	3.85	4.6
Pre-tax income	3.8	3.4	4.3	4.3	-48.7	309	67	484	769	721
Income tax	-11.2	44.6	37.6	17.4	60.2	38.9	56.6	149	195	206
Net income	3.96	7.09	74.5	39.4	-114	263	2.82	328	566	507
EBITDA	211	267	305	244	146	487	225	626	895	854
EPS, basic	0.06	0.10	1.11	0.61	-1.82	4.41	0.06	6.53	11.14	10.71
EPS, diluted	0.06	0.10	1.08	0.60	-1.82	4.20	0.05	6.22	10.69	10.46
Shares, basic (weighted)	67.9	68.4	67.4	64.4	62.6	59.6	50.3	50.3	50.8	47.3
Shares, diluted (weighted)	68.3	69.4	69.1	65.8	62.6	62.6	52.3	52.7	53	48.5
Dividend per share	0.80	0.80	0.80	0.80	0.28	0.00

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	547	676	723	671	1,105	823	518	901	773	760
Short-term investments								0	116	25
Receivables	93.4	79.7	73.1	80.3	83.9	69.1	105	78.3	105	147
Inventory	400	424	438	434	404	526	506	469	575	601
Other current assets	98.9	84.9	102	78.9	68.9	89.7	100	88.6	104	118
Total current assets	1,139	1,265	1,336	1,265	1,662	1,508	1,228	1,537	1,673	1,650
Property, plant and equipment	825	738	695	665	551	508	552	538	576	674
Lease right-of-use assets			0	1,231	894	698	724	678	803	997
Intangible assets	13.4	12.5
Other non-current assets	332	323	355	389	209	225	210	221	248	220
Total assets	2,296	2,326	2,386	3,550	3,315	2,939	2,713	2,974	3,300	3,542
Accounts payable	187	169	227	220	289	375	259	297	365	377
Accrued liabilities	273	309	294	302	396	396	413	437	505	466
Short-term debt	0	0	0	0
Total current liabilities	486	508	559	815	959	1,015	902	967	1,127	1,106
Long-term debt	263	250	250	232	344	304	297	222	0
Lease liabilities			0	1,253	958	697	713	647	740	927
Other non-current liabilities	172	190	235	179	105	86.1	94.1	88.7	81.6	88.6
Total liabilities	1,044	1,073	1,167	2,478	2,366	2,102	2,007	1,924	1,949	2,121
Total debt	263	250	250	232	344	304	297	222	0
Paid-in capital	397	406	405	405	401	413	416	422	423	422
Retained earnings	2,475	2,421	2,419	2,314	2,149	2,386	2,369	2,644	3,197	3,698
Treasury stock	-1,508	-1,491	-1,514	-1,552	-1,513	-1,860	-1,954	-1,895	-2,146	-2,590
Other comprehensive income	-121	-95.1	-102	-109	-102	-115	-138	-136	-139	-126
Shareholders' equity	1,252	1,252	1,209	1,059	937	826	695	1,035	1,336	1,404
Minority interests	8.6	10.1	9.72	12.4	12.7	11.2	11.7	14.8	15.7	16.5
Total equity	1,252	1,252	1,219	1,071	949	837	707	1,050	1,351	1,420
Total liabilities and equity	2,296	2,326	2,386	3,550	3,315	2,939	2,713	2,974	3,300	3,542

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	7.72	10.5	78.8	45	-109	270	10.4	335	574	515
Depreciation and amortization	195	195	178	174	166	144	132	141	154	155
Stock-based compensation	22.1	22.1	21.8	14	18.7	29.3	29	40.1	38.7	39
Deferred income tax	-7.87	37.5	5.95	9.15	24	-31.9	11.5	-4.74	-12.3	41.4
Change in inventory	24.5	-18.3	-23.8	2.27	33.3	-123	18.5	35	-107	-22.1
Change in payables	-32.6	13.6	63.2	10.8	187	77.9	-115	82.9	129	-45.1
Cash from operations	185	288	353	301	405	278	-2.34	653	710	619
Capital expenditures	-141	-107	-152	-203	-102	-97	-165	-158	-183	-241
Purchases of investments							0	0	-140	-24.8
Sales and maturities of investments							0	0	24.8	115
Cash from investing	-137	-107	-152	-203	-51.9	-97	-141	-157	-298	-151
Debt repaid			0	-20	-233	0	0
Share buybacks	0	0	-68.7	-63.5	-15.2	-377	-126	0	-230	-451
Dividends paid	-54.1	-54.4	-53.7	-51.5	-12.6	0	0
Cash from financing	-84.5	-74.8	-132	-148	69.7	-447	-155	-111	-535	-495
Exchange rate effect	-5.44	24.3	-21	-3.59	9.17	-23.7	-8.45	-2.92	-7.09	13.5
Net change in cash	-41.5	130	47.9	-53.6	432	-290	-307	382	-129	-13.5
Free cash flow	44.3	181	201	97.9	303	181	-167	496	527	378
Interest paid	15.3	13.4	14.2	17.5	26.6	28.4	26.7	24.9	9.53	0
Income taxes paid	31	16.2	24.3	20.7	15.2	74.7	53	119	217	190

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to August 1, 2026; growth uses fiscal years. Valuation uses the share price of $135.71 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	13.7%	Operating income / revenue.
EBITDA margin	16.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	14.2%	Pre-tax income / revenue.
Net margin	10.0%	Net income / revenue.
FCF margin	10.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	15.3%	Cash from operations / revenue.
Effective tax rate	28.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	39.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	14.9%	Net income / average total assets.
Return on invested capital (ROIC)	72.3%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Capex / revenue	4.7%	Capital expenditures / revenue.
D&A / revenue	3.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	6.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	12.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	11.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	2.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	15.4%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	11.4%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-5.6%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	96.1%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	-4.5%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	56.0%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	42.4%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-10.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	464.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	-2.2%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	493.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-12.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	8.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-28.3%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	4.5%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	5.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	26.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	8.4%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	7.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	9.3%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	1.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-8.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-2.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-5.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.41x	Current assets / current liabilities.
Quick ratio	0.75x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.58x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	61.9%	Total liabilities / total assets.
Working capital	$446.9M	Current assets - current liabilities.
Tangible book value	$1.35B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.49x	Revenue / average total assets.
Fixed asset turnover	7.54x	Revenue / average property, plant and equipment.
Receivables turnover	28.1x	Revenue / average receivables.
Days sales outstanding	13 days	365 x average receivables / revenue.
FCF conversion	105.7%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	30.9%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$12.17	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$121.24	Revenue / diluted weighted shares.
FCF per share	$12.86	Free cash flow / diluted weighted shares.
Operating cash flow per share	$18.61	Cash from operations / diluted weighted shares.
Book value per share	$30.75	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$30.75	Tangible book value / shares outstanding.
Cash per share	$14.48	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	85.9%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$6.03B	Share price x shares outstanding.
Enterprise value	$5.39B	Market cap + total debt - cash - short-term investments.
P/E	11.3x	Market cap / net income. Only when net income is positive.
P/S	1.13x	Market cap / revenue.
P/B	4.45x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	4.45x	Market cap / tangible book value, when positive.
P/FCF	10.6x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	7.36x	Market cap / cash from operations, when positive.
EV/Sales	1.01x	Enterprise value / revenue.
EV/EBIT	7.36x	Enterprise value / operating income, when both are positive.
EV/EBITDA	6.01x	Enterprise value / EBITDA, when both are positive.
EV/FCF	9.52x	Enterprise value / free cash flow, when both are positive.
FCF yield	9.4%	Free cash flow / market cap.
Earnings yield	8.9%	Net income / market cap (the inverse of P/E).
Shareholder yield	8.1%	(Dividends paid + share buybacks) / market cap.
PEG	0.02x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was ABERCROMBIE & FITCH CO /DE/'s revenue in fiscal 2025?

ABERCROMBIE & FITCH CO /DE/ reported revenue of $5.27B for fiscal 2025, 6.4% higher than the year before.

Was ABERCROMBIE & FITCH CO /DE/ profitable in fiscal 2025?

Yes. Net income was $506.9M, a net margin of 9.6%.

How much free cash flow did ABERCROMBIE & FITCH CO /DE/ generate in fiscal 2025?

Cash from operations of $619.1M minus capital expenditures of $240.8M left free cash flow of $378.4M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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