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LEVI

Levi Strauss & Co.

LEVI

Levi Strauss & Co. • NYSE
$22.03 ▲ 0.96% (+0.21)
Market Cap $8.74 B
52w High $24.82
52w Low $12.17
Dividend Yield 0.54%
P/E 16.82
Volume 1.00M
Outstanding Shares 396.69M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.543B ▲ $784.2M ▼ $218.1M ▲ 14.131% ▲ $0.2 ▲ $223.2M ▲
Q2-2025 $1.446B ▼ $797.8M ▲ $67M ▼ 4.633% ▼ $0.17 ▼ $164.7M ▼
Q1-2025 $1.527B ▼ $756M ▼ $135M ▼ 8.842% ▼ $0.34 ▼ $236.7M ▼
Q4-2024 $1.84B ▲ $914.7M ▲ $182.6M ▲ 9.926% ▲ $0.46 ▲ $265.7M ▲
Q3-2024 $1.517B $880.4M $20.7M 1.365% $0.052 $80M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $707.5M ▼ $6.656B ▲ $4.494B ▲ $2.163B ▲
Q2-2025 $736.7M ▲ $6.533B ▲ $4.443B ▲ $2.09B ▲
Q1-2025 $574.4M ▼ $6.198B ▼ $4.164B ▼ $2.034B ▲
Q4-2024 $690M ▲ $6.375B ▲ $4.405B ▲ $1.97B ▲
Q3-2024 $577.1M $6.253B $4.38B $1.873B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $218.1M ▲ $24.8M ▼ $120M ▲ $-184.7M ▼ $-40.8M ▼ $-39.4M ▼
Q2-2025 $67M ▼ $185.5M ▲ $-58.6M ▲ $-54.9M ▲ $79.2M ▲ $146M ▲
Q1-2025 $135M ▼ $52.5M ▼ $-71.1M ▲ $-97.5M ▼ $-115.6M ▼ $-14.1M ▼
Q4-2024 $182.6M ▲ $297.3M ▲ $-88.9M ▼ $-90.2M ▼ $112.9M ▲ $231.6M ▲
Q3-2024 $20.7M $52.3M $-50.8M $-66.2M $-64.3M $2.3M

Five-Year Company Overview

Income Statement

Income Statement Levi’s has grown sales steadily over the last five years, bouncing back strongly from the pandemic and then edging higher each year. Profitability, however, peaked a few years ago and has since come under pressure, with operating and net income now meaningfully lower than those earlier highs. This suggests the brand is still good at generating demand, but cost inflation, discounting, or mix shifts are squeezing earnings. Overall, the income statement shows a solid, resilient business, but one working hard to keep profit margins from eroding.

Balance Sheet

Balance Sheet The balance sheet looks generally sound and relatively stable over time. Total assets have inched up, equity has grown, and debt has stayed fairly steady, pointing to a controlled use of borrowing rather than aggressive leverage. Cash levels have moved around, recently recovering from a dip but still below the unusually high pandemic-era figure, which is normal as operations normalized. In broad terms, Levi’s appears to be managing its resources conservatively while still investing in the business.

Cash Flow

Cash Flow Cash generation has improved meaningfully in the most recent year, with operating cash flow well above prior years and free cash flow comfortably positive. Earlier years show more volatility, hinting at swings in inventory and working capital as the company navigated supply chain and demand shifts. Capital spending has been steady and manageable, indicating ongoing investment in stores, technology, and manufacturing without overextending. The recent step-up in cash flow gives Levi’s more room to fund growth, service debt, and return capital, if desired.

Competitive Edge

Competitive Edge Levi’s competitive strength rests heavily on its iconic global brand and deep heritage in denim, which few rivals can match. The company is deliberately shifting more business toward its own stores and websites, which can deepen customer relationships and support better margins than wholesale channels. A broad international presence, a mix of wholesale and direct-to-consumer, and strong loyalty and marketing programs give it resilience against fashion cycles and new entrants. The main risk is that denim and casualwear are highly competitive and trend-driven, so Levi’s must keep its styles and brand image fresh to defend its position.

Innovation and R&D

Innovation and R&D Levi’s invests meaningfully in product and process innovation rather than classic lab-style R&D. Initiatives like laser-based finishing (Project F.L.X.), water-saving techniques, and its Eureka Innovation Lab show a clear focus on more efficient, more sustainable manufacturing. The company also leans into customization, premium and circular product lines, and data-driven retail and e-commerce to make the brand feel modern and personal. These efforts help differentiate Levi’s in a crowded apparel market and could support pricing power and customer loyalty over time, though the payoffs can be gradual and require ongoing spending.

Summary

Overall, Levi Strauss & Co. combines a powerful, long-standing brand with steady revenue growth and improving cash generation, even as profit margins have been pressured compared with earlier post-pandemic peaks. The balance sheet appears disciplined, and cash flows recently strengthened, giving the company financial flexibility. Strategically, Levi’s is leaning into direct-to-consumer, digital tools, sustainability, and customization to protect and extend its moat in a tough, fashion-sensitive industry. The key things to watch are whether these initiatives can restore stronger profitability and keep the brand culturally relevant amid intense competition and changing consumer tastes.

NEWS

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