Forensic Analysis · Durable Goods, Textiles & Apparel · as of Aug 9, 2026
Levi Strauss & Co (LEVI)
A forensic read on Levi Strauss & Co built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
B · Sound & dependable
Forensic grade
Safe
Financial health
4.8
Distress distance
Clean
Earnings quality
4
Forensic signals
14.6
P / E (ttm)
25.4%
ROE
$9.4B
Market cap
2.39%
Dividend yield
4.1%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Levi Strauss & Co earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 4.8, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+11.6%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +11.6% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by payables paid down 10% against +1% in cost of sales and inventory up +9% against +1% in cost of sales. The cash-flow cross-check is more mixed: reported earnings ran in line with operating cash by 2% of net operating assets, diverging from the balance-sheet accrual read.
13.2%
FY2025
Return on invested capital.Return on invested capital is 13.2% in the latest fiscal year and slipping from 16% — a modest positive spread over its ~9% cost of capital — growth adds value, though not dramatically.
-0.3%/yr
FY2022–FY2025
Share count.Diluted share count changed -1% over the last 3 years to FY2025 (-0.3%/yr). Roughly flat — buybacks ($30M) are about offsetting stock comp ($82M), not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.
$131M
FY2022–FY2025
Goodwill impairments.Took $131M of goodwill writedowns across 4 years (FY2023 ($75M), FY2024 ($42M), FY2025 ($2M)) — about 8% of net income over the span. Writedowns mean past acquisitions underperformed what was paid for them.
Key fundamentals
Latest Revenue$6.28B
Revenue Growth YoY+4.1%
Revenue CAGR (3yr)+0.6%
Net Margin9.2%
Free Cash Flow$308.2M
Return on Equity25.4%
Debt / Equity0.46x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Levi Strauss & Co's actual 10-K/10-Q/8-K filings?