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Apparel retail · Consumer Cyclical · Fiscal year ends Jan 30
Abercrombie & Fitch reported revenue of $5.3B in the fiscal year ended Jan 2026, up 6.4% from the year before. Operating income was $699M, an operating margin of 13.3%, and net income was $507M. Operating cash flow of $619M less capital expenditure of $241M left free cash flow of $378M.
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 | 3,713 | 3,698 | 4,281 | 4,949 | 5,266 |
| Cost of revenue | 1,401 | 1,593 | 1,587 | 1,774 | 2,029 |
| Gross profit | 2,312 | 2,105 | 2,693 | 3,175 | 3,237 |
| Selling, general & admin | – | 2,015 | 2,215 | 2,440 | 2,535 |
| Operating income | 343 | 92.6 | 485 | 741 | 699 |
| Net interest incomeBanks | −34.1 | −25.6 | −0.4 | 27.9 | 21.6 |
| Interest expense | 38.0 | 30.2 | 30.4 | 12.1 | 2.4 |
| Pre-tax income | 309 | 67.0 | 484 | 769 | 721 |
| Income tax | 38.9 | 56.6 | 149 | 195 | 206 |
| Net income | 263 | 2.8 | 328 | 566 | 507 |
| Diluted EPS | 4.20 | 0.05 | 6.22 | 10.69 | 10.46 |
| Diluted shares | 62.6 | 52.3 | 52.7 | 53.0 | 48.5 |
| Fiscal year | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 823 | 518 | 901 | 773 | 760 |
| Receivables | 69.1 | 105 | 78.3 | 105 | 147 |
| Inventory | 526 | 506 | 469 | 575 | 601 |
| Current assets | 1,508 | 1,228 | 1,537 | 1,673 | 1,650 |
| Net PP&E | 508 | 552 | 538 | 576 | 674 |
| Total assets | 2,939 | 2,713 | 2,974 | 3,300 | 3,542 |
| Payables | 375 | 259 | 297 | 365 | 377 |
| Current liabilities | 1,015 | 902 | 967 | 1,127 | 1,106 |
| Long-term debt | 304 | 297 | 222 | 0.0 | – |
| Total liabilities | 2,102 | 2,007 | 1,924 | 1,949 | 2,121 |
| Shareholders' equity | 826 | 695 | 1,035 | 1,336 | 1,404 |
| Fiscal year | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 278 | −2.3 | 653 | 710 | 619 |
| Capital expenditure | 97.0 | 165 | 158 | 183 | 241 |
| Free cash flow | 181 | −167 | 496 | 527 | 378 |
| Depreciation & amortisation | 144 | 132 | 141 | 154 | 155 |
| Stock-based compensation | 29.3 | 29.0 | 40.1 | 38.7 | 39.0 |
| Share buybacks | 377 | 126 | 0.0 | 230 | 451 |
| Dividends paid | 0.0 | 0.0 | – | – | – |
| Dividend per share | 0.00 | – | – | – | – |
| Fiscal year | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −0.4% | 15.8% | 15.6% | 6.4% |
| Operating income growth (YoY) | – | −73.0% | 423.1% | 52.9% | −5.6% |
| EPS growth (YoY) | – | −98.8% | 12340.0% | 71.9% | −2.2% |
| Gross margin | 62.3% | 56.9% | 62.9% | 64.2% | 61.5% |
| Operating margin | 9.2% | 2.5% | 11.3% | 15.0% | 13.3% |
| Net margin | 7.1% | 0.1% | 7.7% | 11.4% | 9.6% |
| Return on equityBlank when equity is negative | 31.8% | 0.4% | 31.7% | 42.4% | 36.1% |
| ROCEEBIT ÷ (assets − current liabilities) | 17.8% | 5.1% | 24.1% | 34.1% | 28.7% |
| Free cash flow margin | 4.9% | −4.5% | 11.6% | 10.7% | 7.2% |
| Cash conversion (CFO ÷ net income) | 1.06x | −0.83x | 1.99x | 1.25x | 1.22x |
| Receivable days | 7 | 10 | 7 | 8 | 10 |
| Inventory days | 137 | 116 | 108 | 118 | 108 |
| Payable days | 98 | 59 | 68 | 75 | 68 |
| Interest cover | 9.04x | 3.06x | 16.0x | 61.3x | 294x |
| Debt ÷ equity | 0.37x | 0.43x | 0.21x | 0.00x | – |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −520 | −221 | −679 | −773 | – |
| Current ratio | 1.49x | 1.36x | 1.59x | 1.48x | 1.49x |
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.