Forensic Analysis · Textiles & Apparel Manufacturing · as of Nov 9, 2026
PVH Corp. /De/ (PVH)
A forensic read on PVH Corp. /De/ 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
3.2
Distress distance
Clean
Earnings quality
3
Forensic signals
0.5%
ROE
3.4%
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 (auditor quality, say on pay, board independence, going concern). 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.
PVH Corp. /De/ earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 3.2, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
1.8%
FY2026
Return on invested capital.Return on invested capital is 1.8% in the latest fiscal year and slipping across FY2024–FY2026 from 8.9%. After-tax operating profit was $733M in FY2024 and $150M in FY2026, with operating income at 10.1% of revenue in FY2024, 8.9% in FY2025 and 2.6% in FY2026. The capital base behind it went from $8.3B in FY2024 to $8.3B in FY2026 (+1%), while the revenue it carried went from $9.2B to $9.0B. FY2026's operating profit carried a $426M goodwill write-off that alone took about 3.3 points off that year's return, so about 3.3 of the 7.1-point fall across FY2024–FY2026 is that charge landing in the latest year rather than the capital earning less. A non-cash write-down lowers the reported return in the year it lands.
$426M
FY2026
Goodwill impairments.Took $426M of goodwill writedowns across 1 year (FY2026 ($426M)) — about 1684% of net income over the span. A large writedown means an acquisition turned out worth far less than was paid — a real mark against M&A discipline.
109% of FCF
FY2026
Shareholder returns.Returned $585M to shareholders (buybacks + dividends) in FY2026 — 109% of free cash flow. That is $47M (9%) more than free cash flow covered. The balance sheet covered it: cash fell $46M and total debt rose $214M over FY2026. That ratio has been CLIMBING past free cash flow — 80% of free cash flow two years back — not just sitting there. Counting the $44M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 117%.
Key fundamentals
Latest Revenue$8.95B
Revenue Growth YoY+3.4%
Revenue CAGR (2yr)-1.5%
Net Margin0.3%
Free Cash Flow$538.4M
Return on Equity0.5%
Debt / Equity0.48x
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 PVH Corp. /De/'s actual 10-K/10-Q/8-K filings?