G III APPAREL GROUP LTD /DE/ financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data G III APPAREL GROUP LTD /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

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	2,386	2,807	3,076	3,160	2,055	2,767	3,227	3,098	3,181	2,957
Cost of revenue	1,545	1,752	1,969	2,043	1,311	1,778	2,126	1,856	1,882	1,793
Gross profit	841	1,055	1,107	1,118	744	988	1,101	1,242	1,299	1,164
Selling, general and administrative	704	855	835	832	605	648	833	924	970	978
Operating income	93.9	154	231	228	82.8	311	-109	283	293	108
Other non-operating income	-0.58	-1.41	-2.96	-1.15	3.24	9.55	27.9	-3.15	-4.37	3.19
Pre-tax income	77.8	110	184	182	35.7	271	-138	241	270	111
Income tax	25.8	47.9	45.8	38.3	12.2	70.9	-3.79	65.9	76.6	43.3
Net income to minority interests					-0.02	-0.49	-1.32	-1.43	-0.27
Net income	51.9	62.1	138	144	23.5	201	-133	176	194	67.4
EBITDA	126	192	270	266	121	339	-81.7	311	321	137
EPS, basic	1.12	1.27	2.81	2.98	0.49	4.14	-2.79	3.84	4.35	1.58
EPS, diluted	1.10	1.25	2.75	2.94	0.48	4.05	-2.79	3.75	4.20	1.51
Shares, basic (weighted)	46.3	48.8	49.1	48.2	48.2	48.4	47.7	45.9	44.5	42.7
Shares, diluted (weighted)	47.4	49.8	50.3	48.9	48.8	49.5	47.7	47	46.1	44.5
Dividend per share										0.10

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	80	45.8	70.1	197	352	466	192	508	181	407
Receivables	264	294	502	530	493	606	675	562	625	537
Inventory	483	553	576	552	417	512	709	520	478	460
Other current assets	46.9	51	96.9	80.7	56.8	54.7	70.7	68.3	48.6	53
Total current assets	883	960	1,254	1,369	1,344	1,653	1,653	1,660	1,335	1,469
Property, plant and equipment	103	97.9	86.4	76	57.1	48.8	53.7	55.1	69.3	78
Lease right-of-use assets				270	186	170	240	217	255	258
Goodwill	269	263	261	261	263	263	0	0	0
Intangible assets	48.6	46.4	42.4	38.4	35.1	31.4	34.8	31.7	27.1	25.6
Other non-current assets	36.2	32.5	35.5	32.6	38.8	55	52.6	45.1	66.6	23.9
Total assets	1,852	1,915	2,208	2,565	2,436	2,743	2,712	2,681	2,483	2,611
Accounts payable	218	232	225	205	139	237	170	183	228	264
Accrued liabilities	95.3	95.1	103	102	103	128	116	141	138	138
Short-term debt										7.1
Total current liabilities	315	347	581	614	402	511	579	494	510	546
Long-term debt	462	391	387	397	508	515	484	403	3.05	4.64
Lease liabilities				249	162	143	205	178	221	221
Other non-current liabilities	39.2	40.4	36.5	6.72	7.21	13.1	15.1	15.8	20.9	18.1
Total liabilities	831	794	1,019	1,274	1,099	1,222	1,328	1,133	804	850
Total debt	462	391		397	508	515	484	403	3.05	4.64
Paid-in capital	438	452	464	452	448	456	469	459	468	476
Retained earnings	612	675	759	893	917	1,117	984	1,160	1,354	1,417
Treasury stock	-1.49	-0.42	-19.1	-36.9	-27	-39.2	-55.8	-65.8	-117	-157
Other comprehensive income	-27.7	-5.52	-15.2	-18	-2.09	-14.5	-11.7	-3.21	-25.5	23.9
Shareholders' equity	1,021	1,121	1,189	1,291	1,336	1,520	1,385	1,550	1,679	1,760
Total equity	1,021	1,121	1,189	1,291	1,336	1,520	1,385	1,550	1,679	1,760
Total liabilities and equity	1,852	1,915	2,208	2,565	2,436	2,743	2,712	2,681	2,483	2,611

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	51.9	62.1	138	144	23.5	200	-134	175	193	67.4
Depreciation and amortization	32.5	37.8	38.8	38.7	38.6	27.6	27.8	27.5	27.4	29
Stock-based compensation	16.9	19.7	19.7	17.6	6.14	17.4	32.5	17.2	28.9	23.4
Deferred income tax	-7.32	4.08	5.4	0.32	24.8	21.1	-55.1	3.74	12	15.7
Change in receivables	-29.3	-29.9	-208	-28	38.9	-113	-41	113	-62.4	87.7
Change in inventory	12.6	-68.8	-23.6	24.5	144	-95.7	-164	189	42.3	18.1
Change in payables	12.4	10.7	-0.33	-18.6	-94.2	125	-107	35	50.1	24.4
Cash from operations	106	79.7	104	209	74.8	186	-105	588	316	299
Capital expenditures	-24.9	-34.5	-29.2	-38	-16	-18.3	-21.5	-24.7	-41.5	-35.2
Acquisitions	-465					-13.2	-169
Purchases of investments						-13.2
Cash from investing	-526	-33.9	-37.3	-40.1	-20.1	-51.5	-218	-28.3	-148	-36
Debt issued	283				400
Debt repaid	-20.3							-125	-400
Stock issued	0.26	1.58	0.1	0.12	0.3
Share buybacks			-20.3	-35.2		-17.3	-26.9	-26.1	-60	-49.8
Dividends paid										-4.22
Cash from financing	368	-83.7	-38	-44.5	94.8	-23.4	51.6	-245	-486	-54.3
Exchange rate effect	-0.19	3.65	-4.18	2.79	5.16	3.2
Net change in cash	-52.6	-34.2	24.4	127	155	114	-274	316	-326	225
Free cash flow	80.8	45.2	74.6	171	58.7	168	-126	563	275	264
Interest paid	21.8	31.6	35.8	34.3	16.4	54.4	44.1	30.2	27.4	3.62
Income taxes paid	18.9	32.9	44	39	1.97	39.8	38.1	57.9	67	43

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 31, 2026; growth uses fiscal years. Valuation uses the share price of $27.12 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	44.4%	Gross profit / revenue.
Operating margin	6.3%	Operating income / revenue.
EBITDA margin	7.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	6.4%	Pre-tax income / revenue.
Net margin	4.8%	Net income / revenue.
FCF margin	9.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	10.8%	Cash from operations / revenue.
Effective tax rate	26.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	7.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	4.9%	Net income / average total assets.
Return on invested capital (ROIC)	10.2%	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%.
SG&A / revenue	35.3%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.0%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.2%	Capital expenditures / revenue.
D&A / revenue	1.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-7.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-2.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	7.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-10.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	1.9%	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	9.4%	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	-63.2%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 5y	5.4%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-57.3%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 5y	2.4%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-65.2%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 5y	23.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-64.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 5y	25.8%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-5.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	32.0%	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	-4.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	35.1%	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	4.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	8.3%	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	5.7%	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	5.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-1.3%	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	1.4%	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	-3.5%	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	-2.3%	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	-1.8%	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	2.70x	Current assets / current liabilities.
Quick ratio	1.62x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.92x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.00x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	0.3%	Total debt / total assets.
Liabilities / assets	33.9%	Total liabilities / total assets.
Net debt	-$521.4M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-2.49x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$984.2M	Current assets - current liabilities.
Tangible book value	$1.82B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.04x	Revenue / average total assets.
Fixed asset turnover	35.3x	Revenue / average property, plant and equipment.
Inventory turnover	2.86x	Cost of revenue / average inventory.
Days inventory	128 days	365 x average inventory / cost of revenue.
Receivables turnover	7.06x	Revenue / average receivables.
Days sales outstanding	52 days	365 x average receivables / revenue.
Days payables	74 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	105 days	Days inventory + days sales outstanding - days payables.
FCF conversion	202.8%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	11.1%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.05	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	$64.28	Revenue / diluted weighted shares.
FCF per share	$6.19	Free cash flow / diluted weighted shares.
Operating cash flow per share	$6.97	Cash from operations / diluted weighted shares.
Book value per share	$41.03	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$41.03	Tangible book value / shares outstanding.
Cash per share	$11.94	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$1.14B	Share price x shares outstanding.
Enterprise value	$622.9M	Market cap + total debt - cash - short-term investments.
P/E	8.45x	Market cap / net income. Only when net income is positive.
P/S	0.40x	Market cap / revenue.
P/B	0.63x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.63x	Market cap / tangible book value, when positive.
P/FCF	4.17x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	3.70x	Market cap / cash from operations, when positive.
EV/Sales	0.22x	Enterprise value / revenue.
EV/EBIT	3.47x	Enterprise value / operating income, when both are positive.
EV/EBITDA	2.97x	Enterprise value / EBITDA, when both are positive.
EV/FCF	2.27x	Enterprise value / free cash flow, when both are positive.
FCF yield	24.0%	Free cash flow / market cap.
Earnings yield	11.8%	Net income / market cap (the inverse of P/E).

What was G III APPAREL GROUP LTD /DE/'s revenue in fiscal 2025?

G III APPAREL GROUP LTD /DE/ reported revenue of $2.96B for fiscal 2025, 7% lower than the year before.

Was G III APPAREL GROUP LTD /DE/ profitable in fiscal 2025?

Yes. Net income was $67.4M, a net margin of 2.3%.

How much free cash flow did G III APPAREL GROUP LTD /DE/ generate in fiscal 2025?

Cash from operations of $299.1M minus capital expenditures of $35.2M left free cash flow of $263.9M.

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.

Open interactive statements, quarterly figures and charts

Back to G III APPAREL GROUP LTD /DE/