LANDS' END, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data LANDS' END, INC. 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	FY2022	FY2022	FY2023	FY2024	FY2025
Revenue	1,336	1,407	1,452	1,450	1,427	1,637	1,555	1,473	1,363	1,335
Cost of revenue	759	809	836	828	822	945	962	847	710	685
Gross profit	576	597	616	622	606	691	594	626	653	650
Selling, general and administrative	537	539	546	544	519	572	527	550	562	561
Operating income	-153	29.1	42.6	45.4	41.1	79.8	24.7	-77.5	51	44.3
Interest expense	24.6	25.9	28.9	26	27.8	34.4	39.8	48.3	40.4	36.7
Other non-operating income	-1.62	-2.71	-4.06	1.91	-0.8	0.63	0.36	0.66	-0.02	0.2
Pre-tax income	-179	0.45	9.63	21.4	12.6	46	-14.7	-132	10.5	7.75
Income tax	-69.1	-27.7	-1.96	2.07	1.76	12.6	-2.15	-1.13	4.26	2.24
Net income	-110	28.2	11.6	19.3	10.8	33.4	-12.5	-131	6.23	5.51
EBITDA	-134	54	70.2	76.6	78.5	119	63.5	-39.1	84.7	74.4
EPS, basic	-3.43	0.88	0.36	0.60	0.33	1.01	-0.38	-4.09	0.20	0.18
EPS, diluted	-3.43	0.88	0.36	0.60	0.33	0.99	-0.38	-4.09	0.20	0.18
Shares, basic (weighted)	32	32.1	32.2	32.3	32.6	32.9	33.1	32	31.2	30.7
Shares, diluted (weighted)	32	32.1	32.5	32.3	32.7	33.7	33.1	32	31.7	31

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2022	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	213	196	195	77.1	33.9	34.3	39.6	25.3	16.2	17.7
Receivables	39.3	49.9	34.5	51	37.6	49.7	44.9	35.3	47.8	41.3
Inventory	325	332	322	376	382	384	426	302	265	269
Other current assets	26.4	26.7	36.6	39.5	40.4	36.9	44.9	7.98	5.44	4.8
Total current assets	607	607	588	545	496	507	557	410	370	361
Property, plant and equipment	123	137	150	158	145	130	128	118	116	116
Lease right-of-use assets		0	0	38.7	35.5	31.5	30.3	23.4	20.4	15.7
Goodwill	110	110	110	110	107	107	0.11	0	0	0
Intangible assets	257	257	257	257	257	257	257	257	257	0
Other non-current assets	17.2	13.9	5.64	4.92	5.22	4.7	3.76	2.75	2.01	1.68
Total assets	1,114	1,124	1,111	1,114	1,046	1,037	1,082	811	765	751
Accounts payable	162	156	124	158	134	146	172	132	111	115
Accrued liabilities	13.2	32.3	42.4	42.8	54.9	58.8	18.1	28.4	26.1	28.7
Deferred revenue	10.7	13	9.05	8.1	17.2	8.56	7.48	4.31	6.58	3.02
Short-term debt	5.15	5.15	5.15	5.15	13.8	13.8	13.8	13	13	13
Total current liabilities	249	256	241	284	315	311	297	260	228	224
Long-term debt	490	486	482	379	246	234	224	236	225	214
Lease liabilities			0	39.8	37.8	32.7	31.1	23	20	14.3
Other non-current liabilities	13.6	15.5	5.83	5.53	5.09	5.11	3.37	2.83	2.29	1.97
Total liabilities	843	817	788	765	676	630	701	570	526	507
Total debt	501	496	491	385	272	248	237	249	238	227
Paid-in capital	344	347	353	361	369	374	366	357	350	349
Retained earnings	-60.5	-29.8	-17.2	0.39	11.2	44.6	31.3	-99.4	-94.4	-88.9
Other comprehensive income	-12.4	-10.6	-13.2	-13	-11.2	-12.6	-17	-16.1	-16.7	-16.6
Shareholders' equity	271	307	323	348	370	407	381	242	239	244
Total equity	271	307	323	348	370	407	381	242	239	244
Total liabilities and equity	1,114	1,124	1,111	1,114	1,046	1,037	1,082	811	765	751
Shares outstanding	32.2	32.1	32.2	32.4	32.6	33	32.6	31.4	30.8	30.6

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2022	FY2022	FY2023	FY2024	FY2025
Net income	-110	28.2	11.6	19.3	10.8	33.4	-12.5	-131	6.23	5.51
Depreciation and amortization	19	24.9	27.6	31.1	37.3	39.2	38.7	38.5	33.8	30.2
Stock-based compensation	2.23	3.95	6.16	8.69	9.2	10.2	3.75	3.83	4.87	5.48
Deferred income tax	-67.3	-32.8	0.22	-0.46	-10.8	-0.78	0.93	1.81	3.39	0.94
Change in receivables			14.7	-13.7	15	-13.2	4.5	9.86	-12.8	7.45
Change in inventory	0.76	-2.71	7.77	-53.8	-4.08	-4.21	-45.9	124	36.1	-1.3
Change in payables	17	-6.95	-29.4	32.7	-21.2	13.1	19.9	-33	-18.2	2.48
Cash from operations	24.1	28.4	48.2	27.3	91.6	70.6	-36.4	131	53.1	49.6
Capital expenditures	-33.3	-38.1	-44.9	-38.9	-30.1	-25.2	-31.8	-34.9	-37.8	-29.2
Cash from investing	-33.3	-38.1	-44.4	-38	-30.1	-25.2	-29.8	-34.9	-35	-29.2
Debt issued	0				267			252
Debt repaid	-5.15	-5.15	-5.15	-105	-389	-13.8	-13.8	-244	-13	-13
Stock issued										0.91
Share buybacks							-8.46	-11.9
Dividends paid	0
Cash from financing	-5.55	-7.41	-5.75	-106	-103	-45.1	73.5	-110	-26.6	-20.1
Exchange rate effect		-1.42	-0.64	0.54	-1.91	0.1	-2	0.35	0.01	-0.9
Net change in cash	-15.3	-18.5	-2.58	-116	-43.5	0.34	5.26	-14.1	-8.48	-0.53
Free cash flow	-9.23	-9.71	3.35	-11.6	61.5	45.3	-68.2	95.6	15.4	20.4
Interest paid	22.5	23.5	27.2	23.7	21.6	31.4	34.5	48.1	37	34.8
Income taxes paid	3.65	3.38	1.22	3.07	0.29	24.9	4.76	1.11	-0.74	-0.38

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 $10.26 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	48.6%	Gross profit / revenue.
Operating margin	0.5%	Operating income / revenue.
EBITDA margin	2.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	35.2%	Pre-tax income / revenue.
Net margin	26.6%	Net income / revenue.
FCF margin	-5.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	-2.8%	Cash from operations / revenue.
Effective tax rate	24.5%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	71.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	37.0%	Net income / average total assets.
Return on invested capital (ROIC)	1.1%	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	43.2%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.7%	Capital expenditures / revenue.
D&A / revenue	2.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-2.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-5.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-1.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-0.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	3.1%	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	1.4%	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	-13.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	21.4%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	1.5%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-12.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	5.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-1.1%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-11.6%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 5y	-12.7%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-10.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 5y	-11.4%	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	-6.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	-11.5%	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	32.7%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	-19.8%	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	2.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-13.8%	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	-8.0%	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	-1.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-11.5%	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	-6.4%	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	-2.0%	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	-2.1%	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	-1.0%	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	1.58x	Current assets / current liabilities.
Quick ratio	0.20x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.06x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.00x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	0.0%	Total debt / total assets.
Liabilities / assets	48.1%	Total liabilities / total assets.
Net debt	-$16.1M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.49x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	0.27x	Operating income / interest expense.
Working capital	$156.9M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	$492.9M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.39x	Revenue / average total assets.
Fixed asset turnover	10.3x	Revenue / average property, plant and equipment.
Inventory turnover	1.98x	Cost of revenue / average inventory.
Days inventory	184 days	365 x average inventory / cost of revenue.
Receivables turnover	34.5x	Revenue / average receivables.
Days sales outstanding	11 days	365 x average receivables / revenue.
Days payables	87 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	107 days	Days inventory + days sales outstanding - days payables.
FCF conversion	-20.9%	Free cash flow / net income, when net income is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$11.68	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	$43.87	Revenue / diluted weighted shares.
FCF per share	-$2.44	Free cash flow / diluted weighted shares.
Operating cash flow per share	-$1.24	Cash from operations / diluted weighted shares.
Book value per share	$16.42	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$16.42	Tangible book value / shares outstanding.
Cash per share	$0.54	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$315.4M	Share price x shares outstanding.
Enterprise value	$299.3M	Market cap + total debt - cash - short-term investments.
P/E	0.90x	Market cap / net income. Only when net income is positive.
P/S	0.24x	Market cap / revenue.
P/B	0.64x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.64x	Market cap / tangible book value, when positive.
EV/Sales	0.23x	Enterprise value / revenue.
EV/EBIT	44.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	9.01x	Enterprise value / EBITDA, when both are positive.
FCF yield	-23.3%	Free cash flow / market cap.
Earnings yield	111.5%	Net income / market cap (the inverse of P/E).

What was LANDS' END, INC.'s revenue in fiscal 2025?

LANDS' END, INC. reported revenue of $1.34B for fiscal 2025, 2% lower than the year before.

Was LANDS' END, INC. profitable in fiscal 2025?

Yes. Net income was $5.5M, a net margin of 0.4%.

How much free cash flow did LANDS' END, INC. generate in fiscal 2025?

Cash from operations of $49.6M minus capital expenditures of $29.2M left free cash flow of $20.4M.

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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