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Apparel retail · Consumer Cyclical · Fiscal year ends Jan 30
American Eagle Outfitters reported revenue of $5.5B in the fiscal year ended Jan 2026, up 4.1% from the year before. Operating income was $226M, an operating margin of 4.1%, and net income was $192M. Operating cash flow of $456M less capital expenditure of $261M left free cash flow of $195M. It held more cash than debt (net cash $239M).
Ranks among the 9 apparel retail companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue | 5,011 | 4,990 | 5,262 | 5,329 | 5,547 |
| Cost of revenue | 3,019 | 3,245 | 3,237 | 3,240 | 3,522 |
| Gross profit | 1,992 | 1,745 | 2,025 | 2,089 | 2,025 |
| Selling, general & admin | 1,222 | 1,269 | 1,433 | 1,432 | 1,486 |
| Operating income | 591 | 247 | 223 | 427 | 226 |
| Pre-tax income | 559 | 178 | 239 | 440 | 249 |
| Income tax | 139 | 53.4 | 69.8 | 113 | 63.9 |
| Net income | 420 | 125 | 170 | 329 | 192 |
| Diluted EPS | 2.03 | 0.64 | 0.86 | 1.68 | 1.09 |
| Diluted shares | 207 | 205 | 197 | 196 | 176 |
| Fiscal year | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 435 | 170 | 354 | 309 | 239 |
| Receivables | 287 | 242 | 248 | 262 | 259 |
| Inventory | 553 | 585 | 641 | 637 | 702 |
| Current assets | 1,397 | 1,100 | 1,433 | 1,354 | 1,314 |
| Net PP&E | 728 | 782 | 713 | 751 | 786 |
| Goodwill | 271 | 265 | 225 | 225 | 225 |
| Total assets | 3,787 | 3,421 | 3,558 | 3,831 | 4,010 |
| Payables | 232 | 234 | 268 | 281 | 252 |
| Current liabilities | 843 | 769 | 891 | 883 | 868 |
| Long-term debt | 341 | 8.9 | 0.0 | 0.0 | 0.0 |
| Total liabilities | 2,363 | 1,822 | 1,821 | 2,064 | 2,318 |
| Shareholders' equity | 1,424 | 1,599 | 1,737 | 1,764 | 1,693 |
| Fiscal year | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 304 | 406 | 581 | 477 | 456 |
| Capital expenditure | 234 | 260 | 174 | 223 | 261 |
| Free cash flow | 69.8 | 146 | 406 | 254 | 195 |
| Depreciation & amortisation | 171 | 212 | 235 | 221 | 222 |
| Stock-based compensation | 38.2 | 39.0 | 51.1 | 39.6 | 39.4 |
| Acquisitions | 358 | – | – | – | – |
| Share buybacks | – | 9.8 | 10.7 | 191 | 56.9 |
| Dividends paid | 114 | 64.8 | 83.8 | 96.5 | 85.3 |
| Dividend per share | 0.68 | 0.36 | 0.42 | 0.50 | 0.50 |
| Fiscal year | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −0.4% | 5.4% | 1.3% | 4.1% |
| Operating income growth (YoY) | – | −58.2% | −9.8% | 91.9% | −47.1% |
| EPS growth (YoY) | – | −68.5% | 34.4% | 95.3% | −35.1% |
| Gross margin | 39.8% | 35.0% | 38.5% | 39.2% | 36.5% |
| Operating margin | 11.8% | 5.0% | 4.2% | 8.0% | 4.1% |
| Net margin | 8.4% | 2.5% | 3.2% | 6.2% | 3.5% |
| Return on equityBlank when equity is negative | 29.5% | 7.8% | 9.8% | 18.7% | 11.3% |
| ROCEEBIT ÷ (assets − current liabilities) | 20.1% | 9.3% | 8.4% | 14.5% | 7.2% |
| Free cash flow margin | 1.4% | 2.9% | 7.7% | 4.8% | 3.5% |
| Cash conversion (CFO ÷ net income) | 0.72x | 3.25x | 3.42x | 1.45x | 2.38x |
| Receivable days | 21 | 18 | 17 | 18 | 17 |
| Inventory days | 67 | 66 | 72 | 72 | 73 |
| Payable days | 28 | 26 | 30 | 32 | 26 |
| Debt ÷ equity | 0.24x | 0.01x | 0.00x | 0.00x | 0.00x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −93.8 | −161 | −354 | −309 | −239 |
| Current ratio | 1.66x | 1.43x | 1.61x | 1.53x | 1.51x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.