RALPH LAUREN CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data RALPH LAUREN CORP 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	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	6,653	6,182	6,313	6,160	4,401	6,219	6,444	6,631	7,079	8,115
Cost of revenue	3,002	2,431	2,427	2,507	1,539	2,071	2,278	2,200	2,226	2,445
Gross profit	3,651	3,752	3,886	3,653	2,861	4,148	4,166	4,432	4,853	5,669
Selling, general and administrative	3,171	3,096	3,168	3,238	2,639	3,306	3,409	3,601	3,863	4,372
Selling and marketing	220	241	273	278	265	456	438	467	516	635
Operating expenses	3,743	3,254	3,324	3,336	2,905	3,349	3,462	3,675	3,921	4,490
Operating income	-92.3	498	562	317	-43.6	798	704	756	932	1,179
Interest expense	12.4	18.2	20.7	17.6	48.5	54	40.4	42.2	44.1	54.2
Interest income	7.3	12.3	40.8	34.4	9.7	5.5	32.2	73	74	53.7
Other non-operating income	-7.5	-3.1	0.6	-7.4	7.6	4.7	-12.3	21	18.6	-1.5
Pre-tax income	-105	489	583	326	-74.8	755	692	777	951	1,178
Income tax	-5.6	326	152	-57.9	46.3	155	169	131	208	237
Net income	-99.3	163	431	384	-121	600	523	646	743	941
EBITDA	215	793	843	587	204	1,028	925	985	1,152	1,412
EPS, basic	-1.20	1.99	5.35	5.07	-1.65	8.22	7.72	9.91	11.86	15.42
EPS, diluted	-1.20	1.97	5.27	4.98	-1.65	8.07	7.58	9.71	11.61	15.11
Shares, basic (weighted)	82.7	81.7	80.6	75.8	73.5	73	67.7	65.2	62.6	61
Shares, diluted (weighted)	82.7	82.5	81.7	77.2	73.5	74.3	69	66.5	64	62.3
Dividend per share	2.00	2.00	2.50	2.75	0.00	2.75	3.00	3.00	3.30	3.65

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	668	1,305	584	1,620	2,579	1,864	1,529	1,662	1,923	1,988
Short-term investments	685	699	1,403	496	198	735	36.4	121	161	77
Receivables	450	421	398	277	452	405	448	447	460	492
Inventory	792	761	818	736	759	977	1,071	902	950	1,014
Other current assets	280	324	359	161	167	173	189	172	242	238
Total current assets	2,955	3,548	3,595	3,375	4,208	4,217	3,324	3,360	3,790	3,887
Property, plant and equipment	1,316	1,186	1,039	980	1,014	970	956	850	846	1,071
Lease right-of-use assets			0	1,512	1,240	1,111	1,134	1,015	1,013	1,300
Goodwill	905	951	920	916	935	909	899	888	889	904
Intangible assets	220	188	164	141	121	103	88.9	75.7	62.8	93.3
Long-term investments	21.4	86.2	44.9	0
Other non-current assets	131	184	159	112	86.4	111	133	126	111	140
Total assets	5,652	6,143	5,943	7,280	7,888	7,725	6,790	6,603	7,047	7,740
Accounts payable	148	166	202	247	356	449	372	332	436	431
Accrued liabilities	188	226	235	176	225	223	191	192	190	250
Deferred revenue	29.7	30.4	14.1	14.6	12	16.5	14	17.3	16.6	22
Short-term debt	0	298	0	300	0	500	0	0	400	0
Total current liabilities	1,160	1,587	1,200	2,092	1,585	2,256	1,494	1,467	2,134	1,827
Long-term debt	588	288	689	396	1,633	1,137	1,139	1,141	743	1,239
Lease liabilities			0	1,568	1,295	1,132	1,141	1,014	1,045	1,326
Other non-current liabilities	542	607	541	309	190	132	101	114	109	126
Total liabilities	2,352	2,686	2,656	4,587	5,283	5,189	4,359	4,152	4,459	4,898
Total debt	588	586	689	696	1,633	1,636	1,139	1,141	1,143	1,239
Paid-in capital	2,309	2,383	2,494	2,594	2,667	2,749	2,824	2,924	3,032	3,143
Retained earnings	5,752	5,752	5,979	5,994	5,873	6,275	6,598	7,052	7,590	8,311
Treasury stock	-4,564	-4,581	-5,084	-5,778	-5,816	-6,309	-6,797	-7,250	-7,735	-8,362
Other comprehensive income	-198	-98.5	-103	-118	-121	-180	-196	-276	-300	-251
Shareholders' equity	3,300	3,457	3,287	2,693	2,604	2,536	2,431	2,450	2,589	2,841
Total equity	3,300	3,457	3,287	2,693	2,604	2,536	2,431	2,450	2,589	2,841
Total liabilities and equity	5,652	6,143	5,943	7,280	7,888	7,725	6,790	6,603	7,047	7,740

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	-99.3	163	431	384	-121	600	523	646	743	941
Depreciation and amortization	308	295	281	270	248	230	221	229	220	233
Stock-based compensation	63.6	74.5	88.6	101	72.7	81.7	75.5	99.5	108	111
Deferred income tax	-38.9	84.1	8.5	-169	35.6	-46.1	3.9	-41.1	-50	8.4
Change in receivables	54.1	34.5	10.1	57.6	-143	32.4	-52.6	-15.3	-27.6	-35.6
Change in inventory	120	65.4	-83.6	72.3	3.7	-269	-106	149	-52.6	-44.2
Change in payables	113	64.6	-4.7	-64.3	294	195	-225	15.6	226	142
Cash from operations	953	975	784	755	381	716	411	1,070	1,235	1,154
Capital expenditures	-284	-162	-198	-270	-108	-167	-218	-165	-216
Purchases of investments	-860	-1,606	-3,031	-1,290	-705	-1,511	-599	-393	-782	-634
Sales and maturities of investments	942	1,583	2,358	2,240	1,007	965	1,293	304	734	724
Cash from investing	-208	-189	-879	702	195	-718	472	-257	-264	-357
Debt issued	0	0	398	0	1,242	0	0	0	0	498
Debt repaid	0	0	-300	0	-300	0	-500	0	0	-400
Stock issued	5	0.1	21.8	0	0
Share buybacks	-215	-17.1	-503	-695	-37.7	-493	-489	-450	-481	-624
Dividends paid	-165	-162	-191	-204	-49.8	-150	-198	-195	-201	-217
Cash from financing	-518	-198	-606	-438	357	-666	-1,209	-666	-704	-770
Exchange rate effect	-16.4	55.2	-27.8	-15.2	25.5	-48.3	-8.8	-13.6	-8.2	37.4
Net change in cash	210	644	-729	1,003	958	-716	-335	134	259	65.3
Free cash flow	669	814	586	484	273	549	194	905	1,019
Interest paid	13	11.7	17.3	15.4	33.5	46.6	39.9	40.5	41.4	46.5
Income taxes paid	81.7	54	102	136	47.8	216	160	156	152	357

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 27, 2026; growth uses fiscal years. Valuation uses the share price of $357.10 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	70.3%	Gross profit / revenue.
Operating margin	14.9%	Operating income / revenue.
EBITDA margin	17.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	14.9%	Pre-tax income / revenue.
Net margin	11.8%	Net income / revenue.
Operating cash flow margin	15.8%	Cash from operations / revenue.
Effective tax rate	20.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	36.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	12.8%	Net income / average total assets.
Return on invested capital (ROIC)	44.1%	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	53.9%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.4%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	2.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	14.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	8.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	13.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	16.8%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	10.8%	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	14.7%	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	26.5%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	18.7%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	22.6%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	15.2%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	47.2%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	26.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	21.7%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	30.1%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	25.9%	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	-6.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	41.1%	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	24.8%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	10.6%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	6.8%	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	9.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	5.3%	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	1.8%	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	9.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	4.5%	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	-0.4%	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	-2.7%	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	-3.3%	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	-3.3%	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	2.04x	Current assets / current liabilities.
Quick ratio	1.24x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.04x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.46x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	16.2%	Total debt / total assets.
Liabilities / assets	64.5%	Total liabilities / total assets.
Net debt	-$702.2M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.47x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	22.4x	Operating income / interest expense.
Working capital	$1.96B	Current assets - current liabilities.
Goodwill and intangibles / assets	12.9%	(Goodwill + intangible assets) / total assets.
Tangible book value	$1.73B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.09x	Revenue / average total assets.
Fixed asset turnover	7.93x	Revenue / average property, plant and equipment.
Inventory turnover	2.13x	Cost of revenue / average inventory.
Days inventory	171 days	365 x average inventory / cost of revenue.
Receivables turnover	21.5x	Revenue / average receivables.
Days sales outstanding	17 days	365 x average receivables / revenue.
Days payables	82 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	106 days	Days inventory + days sales outstanding - days payables.

Per share

Metric	Value	How it is calculated
EPS, diluted	$16.03	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	$136.30	Revenue / diluted weighted shares.
Operating cash flow per share	$21.49	Cash from operations / diluted weighted shares.
Book value per share	$44.40	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$28.24	Tangible book value / shares outstanding.
Cash per share	$31.67	(Cash + short-term investments) / shares outstanding.
Payout ratio	22.4%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$21.28B	Share price x shares outstanding.
Enterprise value	$20.57B	Market cap + total debt - cash - short-term investments.
P/E	21.6x	Market cap / net income. Only when net income is positive.
P/S	2.55x	Market cap / revenue.
P/B	7.82x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	12.3x	Market cap / tangible book value, when positive.
P/OCF	16.2x	Market cap / cash from operations, when positive.
EV/Sales	2.46x	Enterprise value / revenue.
EV/EBIT	16.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	13.9x	Enterprise value / EBITDA, when both are positive.
Earnings yield	4.6%	Net income / market cap (the inverse of P/E).
Dividend yield	1.0%	Dividends paid over the period / market cap.
Shareholder yield	4.0%	(Dividends paid + share buybacks) / market cap.
PEG	0.84x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was RALPH LAUREN CORP's revenue in fiscal 2026?

RALPH LAUREN CORP reported revenue of $8.11B for fiscal 2026, 14.6% higher than the year before.

Was RALPH LAUREN CORP profitable in fiscal 2026?

Yes. Net income was $941.1M, a net margin of 11.6%.

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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