Forensic Analysis · Textiles & Apparel Manufacturing · as of Nov 11, 2026
V F Corp (VFC)
A forensic read on V F Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Grey Zone
Financial health
1.6
Distress distance
Clean
Earnings quality
2
Forensic signals
15.3%
ROE
1.1%
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 (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.
V F Corp earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 1.6, placing it in the Grey zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
6.6%
FY2026
Return on invested capital.Return on invested capital is 6.6% in the latest fiscal year and rising across FY2024–FY2026 from -1.3%. After-tax operating profit was ($114M) in FY2024 and $431M in FY2026, with operating income at -1.5% of revenue in FY2024, 3.2% in FY2025 and 6.0% in FY2026. The capital base behind it came down -23% across FY2024–FY2026, from $8.5B to $6.5B, so this return is struck on a smaller base than it started on. FY2024's operating profit carried a $508M goodwill write-off, a $70M restructuring charge and a $39M asset write-down that alone took about 5.7 points off that year's return, so about 5.7 of the 7.9-point rise across FY2024–FY2026 is that charge leaving the base year rather than the capital earning more. FY2025's operating profit carried a $69M restructuring charge and a $38M goodwill write-off that alone took about 0.9 points off that year's return; FY2025 sits between the two ends of FY2024–FY2026, so the charge shapes the path between them without moving the change across it. A non-cash write-down lowers the reported return in the year it lands.
$577M
FY2024–FY2026
Goodwill impairments.Took $577M of goodwill writedowns across 3 years (FY2024 ($508M), FY2025 ($38M), FY2026 ($31M)). Writedowns mean past acquisitions underperformed what was paid for them.
Key fundamentals
Latest Revenue$9.61B
Revenue Growth YoY+1.1%
Revenue CAGR (2yr)-1.6%
Net Margin2.7%
Free Cash Flow$556.6M
Return on Equity15.3%
Debt / Equity1.90x
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 V F Corp's actual 10-K/10-Q/8-K filings?