회사 개요
Levi Strauss & Co. is a leading global manufacturer and marketer of denim and apparel, offering a comprehensive range of products including jeans, activewear, tops, footwear, and accessories for men, women, and children across the United States and international markets. The company operates within the consumer cyclical sector, specifically in the apparel manufacturing industry, which denotes its sensitivity to discretionary consumer spending and broader economic cycles. Levi Strauss & Co. holds a substantial market capitalization of $8.75B and generates annual revenue of $6.50B, supported by a workforce of 19,000 employees. These financial metrics indicate that the company maintains a significant position within the global apparel landscape, possessing the scale to invest in supply chain optimization and brand expansion while managing the inherent volatility of the fashion retail environment.
재무 건전성
Levi Strauss & Co. reported a trailing twelve-month revenue of $6.50B, net income of $538.90M, and EBITDA of $944.90M, highlighting a robust top-line performance coupled with substantial operational earnings before interest and taxes. The disparity between the $6.50B revenue and $538.90M net income reveals a cost structure where operating expenses, including cost of goods sold, selling, general, and administrative costs, consume approximately 90.5% of total revenue before arriving at the final profit. The company generated free cash flow of $545.96M, which provides significant financial flexibility to fund capital expenditures, pursue strategic acquisitions, or manage working capital requirements without relying on external financing. Profitability is underscored by a gross margin of 61.7%, an operating margin of 12.5%, and a profit margin of 9.5%, indicating that the company successfully maintains high pricing power and efficient cost control despite inflationary pressures on raw materials and logistics. On the balance sheet, the company holds $812.00M in cash against $2.32B in debt, resulting in a debt-to-equity ratio of 104.98, which suggests a leveraged capital structure typical for capital-intensive manufacturing firms rather than a conservative cash-rich stance. Liquidity is supported by a current ratio of 1.58, indicating that current assets are more than 1.5 times current liabilities, providing a comfortable buffer for meeting short-term obligations. Management effectiveness is evidenced by a return on equity of 25.4% and a return on assets of 7.2%, demonstrating that the company generates substantial returns on shareholder capital relative to its asset base.
밸류에이션 평가
The stock carries a trailing P/E ratio of 16.74 and a forward P/E of 13.80, implying that the market expects earnings to grow at a rate that would lower the valuation multiple over the coming year. A price-to-book ratio of 3.90 indicates that the market values the company at nearly four times its net asset value, reflecting a premium assigned to the brand's intangible assets and market position rather than just its book equity. Alternative valuation metrics such as a price-to-sales ratio of 1.35 and an EV/EBITDA of 10.86 provide context that the stock is trading at a reasonable premium relative to its sales volume and enterprise value adjusted for earnings quality. Price volatility is framed within a 52-week range bounded by a high of $24.82 and a low of $12.17, illustrating the stock's recent trading dynamics and investor sentiment shifts over the past year. The company exhibits a beta of 1.34, meaning its share price is expected to be 34% more volatile than the broader market, which aligns with the cyclical nature of the consumer apparel sector and potential sensitivity to macroeconomic headwinds.
Growth & Income
Levi Strauss & Co. demonstrated dynamic expansion with revenue growth of 14.1% and earnings growth of 32.6% year-over-year, signaling that earnings are accelerating at a rate significantly faster than revenue, likely driven by cost synergies, mix shifts toward higher-margin products, or efficiency gains. As a consistent dividend payer, the company offers a dividend yield of 2.5% with a payout ratio of 40.4%, a level that is sustainable given the strong earnings growth and healthy free cash flow generation relative to the dividend obligations. The combination of robust double-digit revenue expansion and triple-digit earnings growth, alongside a reliable dividend stream, positions the company as a compounder capable of delivering total shareholder returns through both price appreciation and income distribution.