Levi Strauss & Co.LEVI
NYSE•Consumer Cyclical•Apparel Manufacturing
Levi Strauss & Co. designs, markets, and sells apparels and related accessories for men, women, and children in the United States and internationally. The company offers jeans, casual and dress pants, activewears, tops, shorts, skirts, dresses, jumpsuits, shirts, sweaters, jackets, footwear, and related accessories under the Levi's, Levi Strauss Signature, Denizen, and Beyond Yoga brands. It sells its products through third-party retailers, such as department stores, specialty retailers, third-party e-commerce sites, and franchisees; and directly to consumers through company-operated mainline and outlet stores, company-operated e-commerce sites, and select shop-in-shops located in department stores and other third-party retail locations. The company also operates brand-dedicated stores and shop-in-shops. Levi Strauss & Co. was founded in 1853 and is headquartered in San Francisco, California.
Levi Strauss & Co (LEVI) reported trailing twelve months revenue of $6.50B as of March 2026, a 2.7% increase year-over-year. Quarterly revenue reached $1.74B, reflecting continued top-line momentum.
Levi Strauss & Co generated $618.90M in TTM net income, with quarterly EBITDA of $254.30M. The operating margin contracted from 12.5% to 11.4%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (11.4%) and net margin (10.1%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 8.8% a year ago, signaling stronger bottom-line efficiency.
LEVI trades at a P/E of 14.0x (below the broader market average) and a P/S of 1.3x. The price-to-book ratio of 3.9x reflects a moderate premium to book value.
The company generated $152.10M in free cash flow over the trailing twelve months, a 1178.7% increase year-over-year, indicating cash generation ability. The balance sheet shows $6.57B in total assets with $1.05B in long-term debt against $2.21B in stockholders equity for a debt-to-equity ratio of 0.5, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~8.7% on average, but show some variability — pricing power may be sensitive to market conditions.
ROE averages 18.1% but has fluctuated — the competitive advantage may be cyclical or emerging.
6 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue shows resilience with 5 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~10.4% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.5 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.
Shares decreased 2.2% — net buybacks are reducing shares outstanding and boosting per-share value.