Is the business good?
How good a business is ANF?
Abercrombie & Fitch Co. earns 75% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
75%
Return on invested capital · cost of capital 9.0% · 66 points above what the capital costs: growth creates value
- Operating margin
- 13%
Operating margin · Apparel Retail median 11% · 12 months to Q1 2026
- Cash conversion
- 0.84×
Cash conversion · 0.78× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- −9.8%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | −0.65% |
| FY2021 | 9.2% |
| FY2022 | 2.5% |
| FY2023 | 11% |
| FY2024 | 15% |
| FY2025 | 13% |
Details›
- Operating margin12 months to Q1 2026
- 13%
- Net margin12 months to Q1 2026
- 9.3%
- Free cash flow margin
- 7.9%
- Revenue, trailing twelve months
- $5.28B
- Free cash flow, trailing twelve months
- $416M
- Net income, trailing twelve months
- $494M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 75%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.