MOVADO GROUP INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data MOVADO GROUP 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	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	553	568	680	701	506	732	744	664	653	671
Cost of revenue	258	270	310	326	236	313	315	300	300	308
Gross profit	295	298	369	375	270	419	429	364	353	364
Selling, general and administrative	241	255	307	332	257	302	314	316	333	334
Operating expenses			307	332	413	302	314
Operating income	54	43.2	62.2	43	-142	117	116	48.5	20	29.8
Interest expense	1.46	1.51	0.77	0.93	1.96	0.69	0.52	0.5	0.49	0.51
Interest income	0.22	0.45	0.31	0.09	0.05
Pre-tax income	51.5	42.1	61.7	57.5	-142	117	117	54	26.7	34.4
Income tax	16.3	57.4	0.16	15.1	-31.2	24.8	24.3	11.8	7.44	7.49
Net income to minority interests	0.08	0	-0.05	-0.32	0.32	0.96	2.5	0.83	0.85	0.32
Net income	35.1	-15.2	61.6	42.7	-112	91.6	90.4	41.3	18.4	26.6
EBITDA	65.5	56.7	76.4	59.4	-128	130	126	58.1	29.3	39.2
EPS, basic	1.45	-0.63	2.54	1.77	-4.59	3.78	4.02	1.86	0.82	1.19
EPS, diluted	1.44	-0.63	2.50	1.75	-4.59	3.70	3.94	1.83	0.81	1.17
Shares, basic (weighted)	24.1	24.1	24.3	24.2	24.3	24.2	22.5	22.2	22.3	22.2
Shares, diluted (weighted)	24.3	24.1	24.7	24.4	24.3	24.8	23	22.6	22.6	22.6
Dividend per share	0.50	0.50	0.77				1.40	2.40	1.40	1.40

Balance sheet

	FY2016	FY2017	FY2018	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	256	215	190	186	224	277	252	262	209	231
Receivables	66.8	83.1	84	78.4	76.9	91.6	94.3	86	93.4	102
Inventory	153	152	165	171	153	160	186	154	157	158
Other current assets	28.5	32	28.9	27	23.5	17	24.2	18	21.8	22.2
Total current assets	505	482	468	465	502	554	567	531	490	517
Property, plant and equipment	34.2	24.7	26.1	29.2	22.3	19.5	18.7	19.4	19.9	17.1
Lease right-of-use assets			0	89.5	76.1	68.6	80.9	82.7	86	67.9
Goodwill	0	60.3	136	136	0	0
Intangible assets	1.63	23.1	48.2	42.4	17.1	13.5	9.64	7.49	5.54	4.16
Other non-current assets	42.4	49.3	56.8	59.9	59.6	63.1	66.8	72.6	86.5	90.3
Total assets	608	645	760	847	719	761	788	756	729	743
Accounts payable	27.2	24.4	38.7	35.5	28.2	46	32.1	32.8	34.3	21.1
Accrued liabilities	28.2	32.8	44.4	44.2	51.1	48.5	46.7	38.7	42.6	49.7
Total current liabilities	71.4	100	113	109	128	151	142	111	113	113
Lease liabilities			0	81.9	68.4	62.7	70.9	76.4	75.5	58.1
Other non-current liabilities	34.1	41.7	67.1	48.4	50.1	50.3	48.7	52.4	56.2	60.2
Total liabilities	134	175	259	317	289	284	277	248	246	232
Paid-in capital	185	190	202	208	214	223	231	239	243	249
Retained earnings	416	389	431	455	342	414	477	459	447	442
Treasury stock	-204	-209	-217	-223	-223	-249	-282	-285	-289	-293
Other comprehensive income	76.8	100	80.5	85.1	92.5	85.3	81.3	92.3	80	111
Shareholders' equity	474	470	497	527	425	473	508	506	481	509
Minority interests			0	0.71	2.07	1.97	2.94	2.16	2.25	1.42
Total equity	474	470	497	527	427	473	505	508	484	510
Total liabilities and equity	608	645	760	847	719	761	788	756	729	743

Cash flow statement

	FY2016	FY2017	FY2018	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	35.1	-15.2	61.6	42.4	-111	92.6	92.9	42.2	19.2	26.9
Depreciation and amortization	11.5	13.5	14.2	16.4	14.1	12.5	10.8	9.64	9.31	9.42
Stock-based compensation	7.28	4.87	6.04	6.37	5.09	4.95	5.73	7.44	4.11	5.16
Deferred income tax	-3.97	17.7	-18.8	4.35	-18.3	-0.21	-0.71	0.32	0.83	-2.83
Change in receivables	2.88	-9.29	-2.64	5.91	2.42	-18.6	4.24	-0.9	-11.6	-0.28
Change in inventory	7.44	6.62	-4.23	-5.55	21.6	-15.4	-31.8	35.7	-11.7	9.83
Change in payables	-0.4	-4.01	6.08	-3.64	-7.81	18.3	-13.7	1.54	1.84	-15.5
Cash from operations	58.2	54.7	86.2	32.1	68.4	131	54.3	76.8	-1.5	57.9
Capital expenditures	-5.92	-5.81	-10.6	-12.7	-3.02	-5.66	-7.09	-8.22	-7.97	-4.51
Acquisitions		-79	-97.9	-0.64
Purchases of investments	-0.15
Cash from investing	-7.56	-84.3	-109	-13.4	-1.87	-7.91	-10.6	-11.5	-13.7	-8.09
Stock issued	1	2	5.9	0.2	0	3.5	1.6	0.7	0.1	0.5
Share buybacks	-3.86	-3.63	-7.42	-4.2	0	-22.6	-31.4	-3.12	-2.63	-3.9
Dividends paid	-11.9	-11.9	-18.5	-18.4	0	-22	-31.4	-53.1	-31.1	-31.1
Cash from financing	-27.4	-20.9	3.69	-23.9	-34.4	-66.6	-65.3	-57.6	-35.4	-36.3
Exchange rate effect	4.9	9.03
Net change in cash	28.1	-41.5	-25	-4.02	38	53.3	-25.5	10.6	-53.6	22.2
Free cash flow	52.2	48.9	75.5	19.4	65.4	125	47.3	68.6	-9.47	53.4
Interest paid	1.1	1.2	0.7	0.7	1.7	0.4	0.3	0.3	0.3	0.3
Income taxes paid	22.8	20.4	9.5	16	6.1	25.3	29	28.7	28.4	9.21

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 $33.48 on September 28, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	56.1%	Gross profit / revenue.
Operating margin	6.9%	Operating income / revenue.
EBITDA margin	8.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	7.6%	Pre-tax income / revenue.
Net margin	6.0%	Net income / revenue.
FCF margin	10.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	10.9%	Cash from operations / revenue.
Effective tax rate	19.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	8.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.6%	Net income / average total assets.
Return on invested capital (ROIC)	12.9%	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	49.2%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.4%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.6%	Capital expenditures / revenue.
D&A / revenue	1.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	2.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-3.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	5.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	3.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-5.4%	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	6.1%	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	49.0%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-36.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	33.8%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-32.3%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	44.6%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-33.5%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	44.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-33.3%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 3y	2.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-3.3%	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 CAGR, 3y	4.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-4.0%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	5.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	0.1%	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	3.7%	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	1.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-1.9%	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	0.6%	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	0.0%	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	-0.5%	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	-1.4%	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	4.26x	Current assets / current liabilities.
Quick ratio	2.47x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.71x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	31.8%	Total liabilities / total assets.
Interest coverage	95.6x	Operating income / interest expense.
Working capital	$403.5M	Current assets - current liabilities.
Tangible book value	$505.6M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.93x	Revenue / average total assets.
Fixed asset turnover	43.8x	Revenue / average property, plant and equipment.
Inventory turnover	1.54x	Cost of revenue / average inventory.
Days inventory	237 days	365 x average inventory / cost of revenue.
Receivables turnover	7.31x	Revenue / average receivables.
Days sales outstanding	50 days	365 x average receivables / revenue.
Days payables	43 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	244 days	Days inventory + days sales outstanding - days payables.
FCF conversion	172.7%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	5.3%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.79	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	$29.88	Revenue / diluted weighted shares.
FCF per share	$3.09	Free cash flow / diluted weighted shares.
Operating cash flow per share	$3.27	Cash from operations / diluted weighted shares.
Book value per share	$21.90	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$21.90	Tangible book value / shares outstanding.
Cash per share	$9.17	(Cash + short-term investments) / shares outstanding.
Payout ratio	77.7%	Dividends paid / net income, when net income is positive.
Dividends / FCF	45.0%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	5.4%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$744.2M	Share price x shares outstanding.
Enterprise value	$532.6M	Market cap + total debt - cash - short-term investments.
P/E	18.0x	Market cap / net income. Only when net income is positive.
P/S	1.08x	Market cap / revenue.
P/B	1.47x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.47x	Market cap / tangible book value, when positive.
P/FCF	10.4x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	9.86x	Market cap / cash from operations, when positive.
EV/Sales	0.77x	Enterprise value / revenue.
EV/EBIT	11.2x	Enterprise value / operating income, when both are positive.
EV/EBITDA	9.39x	Enterprise value / EBITDA, when both are positive.
EV/FCF	7.45x	Enterprise value / free cash flow, when both are positive.
FCF yield	9.6%	Free cash flow / market cap.
Earnings yield	5.6%	Net income / market cap (the inverse of P/E).
Dividend yield	4.3%	Dividends paid over the period / market cap.
Shareholder yield	4.8%	(Dividends paid + share buybacks) / market cap.

What was MOVADO GROUP INC's revenue in fiscal 2026?

MOVADO GROUP INC reported revenue of $671.3M for fiscal 2026, 2.7% higher than the year before.

Was MOVADO GROUP INC profitable in fiscal 2026?

Yes. Net income was $26.6M, a net margin of 4%.

How much free cash flow did MOVADO GROUP INC generate in fiscal 2026?

Cash from operations of $57.9M minus capital expenditures of $4.5M left free cash flow of $53.4M.

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.

Open interactive statements, quarterly figures and charts

Back to MOVADO GROUP INC