Abercrombie & Fitch Co. (ANF) financials
NYSE · Consumer Cyclical · Apparel - Retail · 43,200 employees · CEO Fran Horowitz
- Price
- $164.44 -0.80%
- Market cap
- $6.98B
- Enterprise value
- $7.64B
- Last report
- Q2 '26 filed 2026-09-04
- Next report
- 2026-11-24 EPS est. $3.06
Revenue (TTM)$5.34B+4.7% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)13.7%-0.9 pp vs a year agoOperating income $730M
Net income (TTM)$536M-0.9% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$566M+64.2% vs a year agoCapex $253M
Diluted EPS (TTM)$11.68+10.5% vs a year agoSum of the last 4 quarters
Net cash-$649M-30.9% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $6.98B EV $7.64B
- Revenue
- $5.34B Trailing 12 months
- Revenue growth
- +5% FY2027 consensus
- Profit margin
- 10.0% Net income / revenue, TTM
- P/E
- 13.9× Forward 12.8× (FY2027)
- P/S
- 1.3× Price / sales, TTM
- EV / EBITDA
- 8.3× TTM
- Free cash flow
- $566M Trailing 12 months
- Net income
- $536M Trailing 12 months
- Revenue estimate
- $5.53B FY2027 consensus
- Earnings
- 2026-11-24 Revenue est. $1.37B
- Dividend
- – No dividend
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-08-26): revenue beat by 1.5%, EPS beat by 109.5%Revenue $1.27B vs $1.25B expected (+1.5%); EPS $4.17 vs $1.99 (+109.5%).
- Revenue growth steady: 4.8% year on yearQ2 '26 revenue $1.27B, against an average of 5.0% over the four quarters before.
- Operating margin 13.7% (TTM), -0.9 pp on a year agoOperating income grew -1.9% while revenue grew 4.7%.
- Capex 4.7% of revenue (a year ago 4.3%)$253M invested in the last 4 quarters (+16.0% on a year earlier). Free cash flow $566M = 105.7% of net income.
- Returned $487M to shareholders = 86.0% of free cash flowBuybacks $487M (a year earlier $489M), dividends $0, stock-based pay $30.7M (TTM).
- Diluted share count down 9.3% in a year44.1M diluted shares in Q2 '26, 48.6M a year earlier.
- Net debt $649MCash + short-term investments $638M, debt incl. leases $1.29B; a year ago net debt $496M.
Last quarter: Q2 '26
Quarter ended 2026-08-01. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q2 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $1.27B | $1.21B | +4.8% |
| Gross margin | 71.1% | 62.6% | +8.5 pp |
| Operating income | $253M | $207M | +22.3% |
| Operating margin | 19.9% | 17.1% | +2.9 pp |
| Net income | $184M | $141M | +29.9% |
| Diluted EPS | $4.17 | $2.91 | +43.3% |
| Operating cash flow | $269M | $117M | +130.2% |
| Capex | $68M | $66.2M | +2.8% |
| Free cash flow | $201M | $50.7M | +296.6% |
| R&D | $0 | $0 | – |
| Stock-based compensation | $0 | $9.79M | -100.0% |
Reported vs consensus
2026-08-26| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $1.27B | $1.25B | +1.5% |
| EPS (as estimated) | $4.17 | $1.99 | +109.5% |
From the report of 2026-08-26 for Q2 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q2 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Hollister | $670M | – | 52.9% | $3.41B | – | |
| Abercrombie | $597M | – | 47.1% | $3.14B | – |
Revenue by region
share of total| Segment | Q2 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| United States | $1B | – | 44.1% | $6B | – | |
| Americas | $1.02B | – | 45.0% | $5.34B | – | |
| Europe | $202M | – | 8.9% | $1B | – | |
| Asia Pacific | $44.2M | – | 1.9% | $211M | – |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $820M
- Capex
- -$253M
- Buybacks
- -$487M
- Dividends
- $0
- Acquisitions
- $0
- Net debt issued
- $0
- Stock-based compensation
- $30.7M
- Free cash flow
- $566M
- Returned to shareholders / FCF
- 86.0%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 13.9× | 100.0× | 8.3× – 455.2× |
| EV / EBITDA | 8.3× | 7.1× | 5.2× – 9.1× |
| EV / Sales | 1.4× | 1.0× | 0.6× – 1.3× |
| Price / FCF | 12.3× | 11.7× 4 of 5 years | 11.1× – 12.2× |
| Price / Book | 5.3× | 3.6× | 2.0× – 5.3× |
| FCF yield | 8.1% | 4.4% | -12.1% – 9.0% |
| Return on invested capital | 19.0% | 14.4% | 0.7% – 23.2% |
| Return on equity | 39.6% | 28.5% | 0.4% – 42.4% |
Analysts
Consensus target $159.45 (-3.0%)
range $92.00 – $185.00 · rating Hold
Strong buy0
Buy19
Hold30
Sell7
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2027 | $5.53B | +5.0% | $12.88 | +23.1% | 12.8× | 5 |
| FY2028 | $5.78B | +4.5% | $12.90 | +0.2% | 12.7× | 6 |
| FY2029 | $6B | +3.9% | $14.39 | +11.6% | 11.4× | 1 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 199 figures Abercrombie & Fitch Co. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $354M | $368M | -3.8% | $377M | $365M | +3.5% |
| Accrued Income Taxes, Current | $38.9M | $17.4M | +124.0% | $21.7M | $45.9M | -52.7% |
| Accrued Liabilities, Current | $443M | $430M | +3.2% | $466M | $505M | -7.8% |
| Accrued Marketing Costs, Current | $71.6M2026-01-31 | $77.5M | -7.6% | $71.6M | $77.5M | -7.6% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $2.2B | $2.1B | +4.7% | $2.14B | $2.03B | +5.5% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$124M | -$138M | +10.3% | -$126M | -$139M | +9.3% |
| Additional Paid in Capital, Common Stock | $403M | $405M | -0.5% | $422M | $423M | -0.3% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 712K | 604K | +17.9% | 249K | 220K | +13.2% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $8.5M | $9.79M | -13.2% | $39M | $38.7M | +1.0% |
| Asset Impairment Charges | $1.45M | $2.77M | -47.6% | $11.5M | $11.6M | -1.0% |
| Assets | $3.59B | $3.3B | +8.9% | $3.54B | $3.3B | +7.3% |
| Assets, Current | $1.55B | $1.49B | +3.8% | $1.65B | $1.67B | -1.4% |
| Buildings and Improvements, Gross | $239M2026-01-31 | $238M | +0.4% | $239M | $238M | +0.4% |
| Capitalized Computer Software, Gross | $861M2026-01-31 | $796M | +8.2% | $861M | $796M | +8.2% |
| Cash | $399M2026-01-31 | $468M | -14.8% | $399M | $468M | -14.8% |
| Cash and Cash Equivalents, at Carrying Value | $628M | $573M | +9.6% | $760M | $773M | -1.7% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $635M | $580M | +9.4% | $767M | $780M | -1.7% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $33.6M | $61.8M | -45.7% | -$13.5M | -$129M | +89.6% |
| Common Stock, Shares, Issued | 103M2026-01-31 | 103M | 0.0% | 103M | 103M | 0.0% |
| Common Stock, Value, Issued | $1.03M | $1.03M | 0.0% | $1.03M | $1.03M | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $185M | $145M | +28.1% | $520M | $563M | -7.7% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $187M | $147M | +27.6% | $528M | $571M | -7.5% |
| Construction in Progress Expenditures Incurred but Not yet Paid | – | – | – | $56.6M | $48.9M | +15.9% |
| Construction in Progress, Gross | $83M2026-01-31 | $41.2M | +101.6% | $83M | $41.2M | +101.6% |
| Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization | – | – | – | $2.03B | $1.77B | +14.4% |
| Cost of Goods and Services Sold | $366M | $452M | -18.9% | – | – | – |
| Current Federal Tax Expense (Benefit) | – | – | – | $114M | $150M | -24.2% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $12.6M | $15.9M | -20.9% |
| Current Income Tax Expense (Benefit) | – | – | – | $164M | $207M | -20.6% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $38.1M | $40.9M | -7.0% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $33.1M | -$11.7M | +384.2% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $3.52M | $220K | +1,498.6% |
| Deferred Income Tax Expense (Benefit) | $7.73M | $10.1M | -23.6% | $41.4M | -$12.3M | +437.0% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $4.72M | -$834K | +665.5% |
| Deferred Tax Assets, Inventory | $14.1M2026-01-31 | $10M | +40.7% | $14.1M | $10M | +40.7% |
| Deferred Tax Assets, Net | $38.8M | $38.3M | +1.3% | $39.7M | $79.3M | -50.0% |
| Deferred Tax Assets, Net of Valuation Allowance | $358M2026-01-31 | $311M | +15.2% | $358M | $311M | +15.2% |
| Deferred Tax Assets, Operating Loss Carryforwards | $112M2026-01-31 | $92M | +21.5% | $112M | $92M | +21.5% |
| Deferred Tax Assets, Other | $35.1M2026-01-31 | $5.48M | +540.5% | $2.76M | $5.48M | -49.7% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | $18.8M2026-01-31 | $18.3M | +2.6% | $18.8M | $18.3M | +2.6% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | $36.2M2026-01-31 | $35.4M | +2.1% | $36.2M | $35.4M | +2.1% |
| Deferred Tax Assets, Valuation Allowance | $185M2026-01-31 | $152M | +21.7% | $185M | $152M | +21.7% |
| Deferred Tax Liabilities, Leasing Arrangements | $272M2026-01-31 | $223M | +21.9% | $272M | $223M | +21.9% |
| Deferred Tax Liabilities, Net | $319M2026-01-31 | $232M | +37.5% | $319M | $232M | +37.5% |
| Deferred Tax Liabilities, Other | $5.23M2026-01-31 | $2.34M | +123.5% | $5.23M | $2.34M | +123.5% |
| Deferred Tax Liabilities, Prepaid Expenses | $2.67M2026-01-31 | $2.81M | -5.0% | $2.67M | $2.81M | -5.0% |
| Deferred Tax Liabilities, Undistributed Foreign Earnings | $1.47M2026-01-31 | $1.4M | +4.6% | $1.47M | $1.4M | +4.6% |
| Depreciation | – | – | – | $153M | $151M | +1.2% |
| Depreciation, Depletion and Amortization, Nonproduction | $43.3M | $37.4M | +15.6% | $155M | $154M | +0.8% |
| Earnings Per Share, Basic | $4.20 | $2.97 | +41.4% | $10.71 | $11.14 | -3.9% |
| Earnings Per Share, Diluted | $4.17 | $2.91 | +43.3% | $10.46 | $10.69 | -2.2% |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | -$372K | $2.29M | -116.2% | $13.5M | -$7.09M | +291.1% |
| Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | – | – | – | $151M | $161M | -6.2% |
| Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | – | – | – | 21.0% | 21.0% | 0.0% |
| Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Amount | – | – | – | -$101K | $282K | -135.8% |
| Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Percent | – | – | – | 0.0% | 0.0% | – |
| Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Payment Arrangement, Amount | – | – | – | -$5.06M | -$17.8M | +71.6% |
| Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Payment Arrangement, Percent | – | – | – | -0.7% | -2.3% | +69.6% |
| Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | – | – | – | $702K | -$101K | +795.0% |
| Effective Income Tax Rate Reconciliation, Other Adjustments, Percent | – | – | – | 0.1% | 0.0% | – |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-08-01, 10-Q 2026-05-02, 10-K 2026-01-31, 10-Q 2025-11-01, 10-Q 2025-08-02, 10-Q 2025-05-03, 10-K 2025-02-01, 10-Q 2024-11-02, 10-Q 2024-08-03
Data as of 2026-11-02