Company profile

Steven E. Rendle
Incorporated in
Fiscal year end
Former names
V F Corp, V F Corp
IRS number

VFC stock data



31 Oct 19
20 Jan 20
28 Mar 20


Company financial data Financial data

Quarter (USD) Sep 19 Jun 19 Mar 19 Dec 18
Revenue 3.39B 2.27B 3.21B 3.94B
Net income 649M 49.22M 128.8M 463.51M
Diluted EPS 1.61 0.12 0.32 1.16
Net profit margin 19.13% 2.17% 4.01% 11.76%
Operating income 579.07M 133.29M 194.38M 591.91M
Net change in cash -98.48M 160.96M -90.19M 268.52M
Cash on hand 507.61M 606.08M 445.12M 535.31M
Cost of revenue 1.6B 1.04B 1.6B 1.9B

Financial data from V F earnings reports

13F holders
Current Prev Q Change
Total holders 928 910 +2.0%
Opened positions 93 78 +19.2%
Closed positions 75 92 -18.5%
Increased positions 358 317 +12.9%
Reduced positions 319 343 -7.0%
13F shares
Current Prev Q Change
Total value 204.35B 187.81B +8.8%
Total shares 399.97M 400.53M -0.1%
Total puts 552.59K 466.88K +18.4%
Total calls 1.29M 801.29K +61.1%
Total put/call ratio 0.4 0.6 -26.5%
Largest owners
Shares Value Change
PNC The PNC Financial Services Group Inc 134.56M $11.97B -1.5%
Vanguard 28.47M $2.53B +1.5%
BLK BlackRock 22.67M $2.02B +2.2%
STT State Street 17.98M $1.6B -0.3%
Capital World Investors 12.47M $1.11B -8.1%
Wellington Management 9.1M $809.98M +7.4%
WFC Wells Fargo & Co. 8.86M $788.66M +3.5%
Parnassus Investments 7.2M $641.07M +1.0%
N Price T Rowe Associates 7.14M $635.16M +23.0%
BAC Bank of America 7.1M $632.2M -3.7%
Largest transactions
Shares Bought/sold Change
PNC The PNC Financial Services Group Inc 134.56M -1.99M -1.5%
JPM JPMorgan Chase & Co. 5.35M +1.82M +51.4%
Arrowstreet Capital, Limited Partnership 1.83M -1.59M -46.5%
N Price T Rowe Associates 7.14M +1.33M +23.0%
Capital World Investors 12.47M -1.1M -8.1%
JHG Janus Henderson 3.62M -1.06M -22.7%
BK Bank Of New York Mellon 3.45M +940.98K +37.5%
Jensen Investment Management 2.59M +881.15K +51.5%
California Public Employees Retirement System 914.44K -838.48K -47.8%
FMR 6.33M -777.79K -10.9%

Financial report summary

  • VF’s revenues and profits depend on the level of consumer spending for apparel and footwear, which is sensitive to global economic conditions and other factors. A decline in consumer spending could have a material adverse effect on VF.
  • The apparel and footwear industries are highly competitive, and VF’s success depends on its ability to gauge consumer preferences and product trends, and to respond to constantly changing markets.
  • VF’s results of operations could be materially harmed if we are unable to accurately forecast demand for our products.
  • VF’s business and the success of its products could be harmed if VF is unable to maintain the images of its brands.
  • VF’s revenues and cash requirements are affected by the seasonal nature of its business.
  • VF’s profitability may decline as a result of increasing pressure on margins.
  • VF may not succeed in its business strategy.
  • VF relies significantly on information technology. Any inadequacy, interruption, integration failure or security failure of this technology could harm VF’s ability to effectively operate its business.
  • VF is subject to data security and privacy risks that could negatively affect its business operations, results of operations or reputation.
  • VF’s business is exposed to the risks of foreign currency exchange rate fluctuations. VF’s hedging strategies may not be effective in mitigating those risks.
  • There are risks associated with VF’s acquisitions.
  • VF’s operations and earnings may be affected by legal, regulatory, political and economic risks.
  • Changes in tax laws could increase our worldwide tax rate and materially affect our financial position and results of operations.
  • We may have additional tax liabilities.
  • VF’s balance sheet includes a significant amount of intangible assets and goodwill. A decline in the fair value of an intangible asset or of a business unit could result in an asset impairment charge, which would be recorded as an operating expense in VF’s Consolidated Statement of Income and could be material.
  • VF uses third-party suppliers and manufacturing facilities worldwide for a substantial portion of its raw materials and finished products, which poses risks to VF’s business operations.
  • Fluctuations in wage rates and the price, availability and quality of raw materials and finished goods could increase costs.
  • We may be adversely affected by weather conditions.
  • A substantial portion of VF’s revenues and gross profit is derived from a small number of large customers. The loss of any of these customers or the inability of any of these customers to pay VF could substantially reduce VF’s revenues and profits.
  • The retail industry has experienced financial difficulty that could adversely affect VF's business.
  • Our ability to obtain short-term or long-term financing on favorable terms, if needed, could be adversely affected by geopolitical risk and volatility in the capital markets.
  • VF has a global revolving credit facility. One or more of the participating banks may not be able to honor their commitments, which could have an adverse effect on VF’s business.
  • The loss of members of VF’s executive management and other key employees could have a material adverse effect on its business.
  • VF’s direct-to-consumer business includes risks that could have an adverse effect on its results of operations.
  • VF’s net sales depend on the volume of traffic to its stores and the availability of suitable lease space.
  • VF may be unable to protect its trademarks and other intellectual property rights.
  • VF is subject to the risk that its licensees may not generate expected sales or maintain the value of VF’s brands.
  • If VF encounters problems with its distribution system, VF’s ability to deliver its products to the market could be adversely affected.
  • Volatility in securities markets, interest rates and other economic factors could substantially increase VF’s defined benefit pension costs.
  • We may be unable to achieve some or all of the benefits we expect to achieve from the spin-off.
  • The Kontoor Brands spin-off could result in substantial tax liability to us and our stockholders.
  • Certain directors who serve on our Board of Directors also serve as directors of Kontoor Brands, and ownership of shares of common stock of Kontoor Brands following the spin-off by our directors and executive officers, may create, or appear to create, conflicts of interest.
Management Discussion
  • internal reporting structure to reflect the organizational changes to better support and assess the operations of the business. The chief operating decision maker allocates resources and assesses performance based on a global brand view with the new reportable segments: Outdoor, Active, Work and Jeans. In the tables below, the Company has recast historical financial information to reflect the new reportable segments. These changes had no impact on previously reported consolidated results of operations. Refer to additional discussion in the “Information by Reportable Segment” section below and Note 19 to VF's consolidated financial statements.
  • On October 2, 2017, VF acquired 100% of the outstanding shares of Williamson-Dickie Mfg. Co. ("Williamson-Dickie") and the business results have been included in the Work segment. On April 3, 2018, VF acquired 100% of the stock of Icebreaker Holdings Limited ("Icebreaker"). On June 1, 2018, VF acquired 100% of the stock of Icon-Altra LLC, plus certain assets in Europe ("Altra"). The business results for Icebreaker and Altra have been included in the Outdoor segment. All references to contributions from acquisitions below represent the operating results of Williamson-Dickie through the one-year anniversary of the acquisition and the operating results of Icebreaker and Altra from their respective dates of acquisition. Refer to Note 3 to VF's consolidated financial statements for additional information on acquisitions.
  • On October 5, 2018, VF completed the sale of the Van Moer business, which was included in the Work segment. On October 26, 2018, VF completed the sale of the Reef® brand business, which was included in the Active segment. All references to dispositions
Content analysis ?
H.S. freshman Avg
New words: compound, downturn, EBITDA, exceeded, men, monitor, NaN, prove, quantitative, recovery, test, testing, UNREGISTERED
Removed: favorable, flat