PVH Corp. (PVH)

NYSEConsumer DiscretionaryApparel - ManufacturersSnapshot 2026-10-23

$84.98+0.85%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge PVH Corp.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

+0.0%

+10% or more+5%0%−5%−10% or less

12.50 → 12.50 EPS · FY ending Feb 1, 2028 · 6 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 24, 2026 to Oct 24, 2026: (new ÷ prior − 1). Contributor count changed from 6 to 6; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Measure / period	Management expectations	Analyst expectations
FY 2026 · Q3
Revenue	—	2.26B
EPS	—	2.628
FY 2026 · Annual
Revenue	—	8.91B
EPS	$11.8–$12.1non-GAAP	12.066
Operating margin	About 8.8%non-GAAP	—
FY 2027 · Annual
Revenue	—	9.05B
EPS	—	12.498

What the Thesis Depends On

4 published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Maintain strong cash flow from operations above $580M	Cash flow from operations has improved strongly to over $580M.	Intact	Cash flow from operations falls below $400M over next 4 quarters	Cash from operations: $382.9M FY2026-Q2; GAAP. Published target: Cash from operations >= $580M. Target period is not explicitly aligned with this observation. Source published Sep 2, 2026382,900,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Aug 2, 2026 Source: stock_quarterly_financials_fmp. Reference: 2026-Q2. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Achieve EPS between $11.8 and $12.1 in FY26	A primary condition in PVH Corp.'s published investment case. The stated target is EPS $11.8 to $12.1.	Intact	EPS falls below $11.0 in FY26	Diluted EPS: $-2.23 per share FY2027-Q2; GAAP. Published target: EPS $11.8 to $12.1. Target period is not explicitly aligned with this observation. Source published Sep 2, 2026-2.23 USD/share · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2027-Q2 · Period ending Aug 2, 2026 Source: company_financial_results. Reference: 3c3cd68d-6d51-4025-88a6-e593ad37bbf3. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Maintain operating margin near 8.8% in FY26	A primary condition in PVH Corp.'s published investment case. The stated target is 8.8% operating margin.	Intact	Operating margin falls below 7.5% in FY26	Operating margin: -9.1% FY2027-Q2; GAAP. Published target: 8.8% operating margin. Target period is not explicitly aligned with this observation. Source published Sep 2, 2026-9.103481 percent · calculatedSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2027-Q2 · Period ending Aug 2, 2026 Source: company_financial_results. Reference: 3c3cd68d-6d51-4025-88a6-e593ad37bbf3. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Stabilize revenue growth near 0.5% in next 12 months	A supporting condition in PVH Corp.'s published investment case. The stated target is >=0% revenue growth.	Under Pressure	Revenue growth falls below -2% next 12 months	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2028 · fiscal year ending 2028-02-01 · fmp

FY2028 EPS$12.50

$12.46 → $12.50 · observed estimates

FY2028 revenue$9.05B

$9.05B → $9.05B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2028 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$12.46	$9,049,393,589	6 / 9
2026-07-25	$12.46	$9,049,393,589	6 / 9
2026-07-26	$12.46	$9,049,393,589	6 / 9
2026-07-27	$12.46	$9,049,393,589	6 / 9
2026-07-28	$12.46	$9,049,393,589	6 / 9
2026-07-29	$12.46	$9,049,393,589	6 / 9
2026-07-30	$12.46	$9,049,393,589	6 / 9
2026-07-31	$12.46	$9,049,393,589	6 / 9
2026-08-01	$12.46	$9,049,393,589	6 / 9
2026-08-02	$12.46	$9,049,393,589	6 / 9
2026-08-03	$12.46	$9,049,393,589	6 / 9
2026-08-04	$12.46	$9,049,393,589	6 / 9
2026-08-05	$12.46	$9,049,393,589	6 / 9
2026-08-06	$12.46	$9,049,393,589	6 / 9
2026-08-07	$12.46	$9,049,393,589	6 / 9
2026-08-08	$12.46	$9,049,393,589	6 / 9
2026-08-09	$12.46	$9,049,393,589	6 / 9
2026-08-10	$12.46	$9,049,393,589	6 / 9
2026-08-12	$12.46	$9,049,393,589	6 / 9
2026-08-13	$12.46	$9,049,393,589	6 / 9
2026-08-14	$12.46	$9,049,393,589	6 / 9
2026-08-15	$12.46	$9,049,393,589	6 / 9
2026-08-16	$12.46	$9,049,393,589	6 / 9
2026-08-17	$12.46	$9,049,393,589	6 / 9
2026-08-18	$12.46	$9,049,393,589	6 / 9
2026-08-19	$12.46	$9,049,393,589	6 / 9
2026-08-20	$12.60	$9,043,747,727	6 / 9
2026-08-21	$12.60	$9,043,747,727	6 / 9
2026-08-22	$12.60	$9,045,863,530	6 / 9
2026-08-23	$12.60	$9,045,863,530	6 / 9
2026-08-24	$12.60	$9,045,863,530	6 / 9
2026-08-25	$12.60	$9,045,863,530	6 / 9
2026-08-26	$12.60	$9,045,863,530	6 / 9
2026-08-27	$12.60	$9,045,863,530	6 / 9
2026-08-28	$12.60	$9,045,863,530	6 / 9
2026-08-29	$12.60	$9,045,863,530	6 / 9
2026-08-30	$12.60	$9,045,863,530	6 / 9
2026-08-31	$12.60	$9,045,863,530	6 / 9
2026-09-01	$12.60	$9,045,863,530	6 / 9
2026-09-02	$12.60	$9,045,863,530	6 / 9
2026-09-03	$12.56	$9,033,921,864	6 / 9
2026-09-04	$12.53	$9,043,528,467	6 / 9
2026-09-05	$12.50	$9,050,863,449	6 / 9
2026-09-06	$12.50	$9,050,863,449	6 / 9
2026-09-07	$12.50	$9,050,863,449	6 / 9
2026-09-08	$12.50	$9,050,863,449	6 / 9
2026-09-09	$12.50	$9,050,863,449	6 / 9
2026-09-10	$12.50	$9,050,863,449	6 / 9
2026-09-11	$12.50	$9,050,863,449	6 / 9
2026-09-12	$12.50	$9,050,863,449	6 / 9
2026-09-13	$12.50	$9,050,863,449	6 / 9
2026-09-14	$12.50	$9,050,863,449	6 / 9
2026-09-15	$12.50	$9,050,863,449	6 / 9
2026-09-16	$12.50	$9,050,863,449	6 / 9
2026-09-17	$12.50	$9,050,863,449	6 / 9
2026-09-18	$12.50	$9,050,863,449	6 / 9
2026-09-19	$12.50	$9,050,863,449	6 / 9
2026-09-20	$12.50	$9,050,863,449	6 / 9
2026-09-21	$12.50	$9,050,863,449	6 / 9
2026-09-22	$12.50	$9,050,863,449	6 / 9
2026-09-23	$12.50	$9,050,863,449	6 / 9
2026-09-24	$12.50	$9,050,863,449	6 / 9
2026-09-25	$12.50	$9,050,863,449	6 / 9
2026-09-26	$12.50	$9,050,863,449	6 / 9
2026-09-27	$12.50	$9,050,863,449	6 / 9
2026-09-28	$12.50	$9,050,863,449	6 / 9
2026-09-29	$12.50	$9,050,863,449	6 / 9
2026-09-30	$12.50	$9,050,863,449	6 / 9
2026-10-01	$12.50	$9,050,863,449	6 / 9
2026-10-02	$12.50	$9,050,863,449	6 / 9
2026-10-03	$12.50	$9,050,863,449	6 / 9
2026-10-04	$12.50	$9,050,863,449	6 / 9
2026-10-05	$12.50	$9,050,863,449	6 / 9
2026-10-06	$12.50	$9,050,863,449	6 / 9
2026-10-07	$12.50	$9,050,863,449	6 / 9
2026-10-08	$12.50	$9,050,866,882	6 / 9
2026-10-09	$12.50	$9,050,866,882	6 / 9
2026-10-10	$12.46	$9,050,866,882	6 / 9
2026-10-11	$12.46	$9,050,866,882	6 / 9
2026-10-12	$12.46	$9,050,866,882	6 / 9
2026-10-13	$12.46	$9,050,866,882	6 / 9
2026-10-14	$12.46	$9,050,866,882	6 / 9
2026-10-15	$12.46	$9,043,450,215	6 / 9
2026-10-16	$12.46	$9,043,450,215	6 / 9
2026-10-17	$12.46	$9,043,450,215	6 / 9
2026-10-18	$12.46	$9,043,450,215	6 / 9
2026-10-19	$12.46	$9,043,450,215	6 / 9
2026-10-20	$12.46	$9,043,450,215	6 / 9
2026-10-21	$12.52	$9,057,246,726	6 / 9
2026-10-22	$12.50	$9,054,883,090	6 / 9
2026-10-23	$12.50	$9,054,883,090	6 / 9
2026-10-24	$12.50	$9,054,883,090	6 / 9

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	7	6	0
2026-06-01	7	7	1
2026-07-01	7	6	1
2026-08-01	6	6	2
2026-09-01	7	5	2
2026-10-01	7	5	2

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 7 Buy / Strong Buy · 5 Hold · 2 Sell / Strong Sell

0 upgrades0 downgrades1 maintains

Recent actions · Sep 25–Oct 24 · 1 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Maintain strong cash flow from operations above $580MCash from operations: $382.9M
Achieve EPS between $11.8 and $12.1 in FY26Diluted EPS: $-2.23 per share
Maintain operating margin near 8.8% in FY26Operating margin: -9.1%
Stabilize revenue growth near 0.5% in next 12 monthsPublished status: Under Pressure

Next proof point

Dec 2, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

4 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.5%Typical daily move · historical

Downside history

-30.7%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

PVH Corp. outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a cyclical apparel business with a recovery element, not a steady compounder at present. The thesis is on watch: company momentum has improved, but recent financial performance remains well below its industry cohort.

What's priced into PVH Corp.

PVH is described as cheap versus peers, while the priced-in assessment is tagged justified and has low fragility. The expectations gap is negative, but the evidence does not spell out which specific expectations the market has already assumed.

What the fundamentals likely do

Near term, recent results are weak overall, though the latest reported earnings event was positive and the company momentum measure improved. Over the multi-year view, direct-to-consumer growth and margin improvement support the thesis, but management execution is volatile and the recent history includes a deep miss.

What PVH Corp. hinges on

A favorable shift would be a guidance raise after the earlier cut, alongside continued growth in direct-to-consumer sales and margin progress. The outlook also depends on sector peers continuing to report strong results; misses or lower guidance from those companies could remove a supportive sector backdrop.