PVH Corp. (PVH) Stock Price & How to Invest

PVH Corp designs, sources, markets and sells apparel, footwear and accessories under two owned brands, TOMMY HILFIGER and Calvin Klein, plus a small Heritage Brands business that licenses names such as Van Heusen and Nike for certain categories. In fiscal 2025, the year ended February 1, 2026, revenue was ~$8.95 billion: Tommy Hilfiger contributed ~$4.77 billion (~53%), Calvin Klein ~$3.96 billion (~44%) and Heritage Brands only ~$215 million. Distribution is split almost evenly between wholesale (~$4.41 billion) and company-operated retail (~$4.12 billion, of which ~$772 million is owned digital commerce), with ~$421 million of licensing royalties on top. The selling base is about 1,350 free-standing stores and about 1,450 shop-in-shop and concession locations, run by roughly 26,000 associates across more than 40 countries. Geography matters more than most US investors assume: EMEA produced ~$4.34 billion of fiscal 2025 revenue (~49%), the Americas ~$3.06 billion (~34%) and APAC ~$1.55 billion (~17%), with US domestic revenue of only ~$2.58 billion, so this is a European company that happens to be listed in New York. Segments were recut into EMEA, Americas, APAC and Licensing at the start of fiscal 2025 to pair the two global brands with regional execution.

The investment picture is a valuation argument. About 46.1 million shares at ~$82 puts the market value near ~$3.8 billion against ~$9.0 billion of trailing revenue and management's own fiscal 2026 guidance of ~$11.80 to ~$12.10 in non-GAAP earnings per share. The market discounts it for reasons that are specific and documented rather than vague. PVH was placed on China's List of Unreliable Entities in February 2025 and, as of the quarterly report filed in June 2026, remains on it with no measures yet imposed, while China accounts for roughly 6% of revenue and roughly 20% of pre-impairment operating profit. Tariffs on goods entering the US are guided to cost about ~$195 million of gross operating profit in fiscal 2026, or roughly ~$3.30 per share, partly offset by mitigation and an expected ~$100 million of refunds. EMEA, the largest region, had its full-year outlook cut in June 2026 on the prolonged effects of the Middle East conflict. Reported GAAP results add to the confusion: fiscal 2025 GAAP earnings were just ~$0.52 per share because of a ~$480 million pre-tax noncash impairment taken in the first quarter, against ~$11.40 on a non-GAAP basis. Set against all that, the company produced ~$680 million of operating cash flow in fiscal 2025 and retired about 9% of its diluted share count.

The China listing is the overhang that has no timetable: MOFCOM placed PVH on the List of Unreliable Entities in February 2025 over Xinjiang cotton sourcing, no measures have been imposed as of the report filed in June 2026, and the potential remedies range from fines to bans on importing, exporting or investing in China, in a market supplying roughly 6% of revenue and roughly 20% of pre-impairment operating profit. EMEA, at about half of group revenue, was the reason full-year guidance came down in June 2026, with first-quarter EMEA revenue off ~5% in constant currency on the prolonged effects of the Middle East conflict. Tariff exposure is both large and unsettled: the outlook assumes a ~15% blended rate and a ~$195 million gross hit, and the company describes the offsetting ~$100 million of refunds as uncertain in amount and timing and dependent on processes outside its control, with the rate itself in flux after the Supreme Court ruling and the subsequent Section 122 executive order. The balance sheet leaves less room than the multiple suggests, with ~$2.28 billion of debt against ~$593 million of cash and a further ~$1.9 billion of operating lease liabilities on a ~$3.8 billion market capitalisation. Finally, after the June 3, 2026 guidance cut and a same-week analyst downgrade, several plaintiff firms including Schall, Bronstein Gewirtz & Grossman and Levi & Korsinsky publicly announced investigations into whether PVH misled investors; as of mid-August 2026 no securities class action complaint with a case number has been identified and PVH's own filings describe only ordinary-course litigation, and the chief financial officer post is currently held on an interim basis.

12 analysts publish price targets on PVH, averaging $91.83 against a $82.47 price as of August 2026, or +11.3%. The published targets run from $70.00 to $128.00, a moderate spread, and the ratings split 6 buy, 5 hold, 2 sell. Over the last six months there have been 3 raises and 8 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full PVH forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on PVH Corp.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. The PVH+ Plan and the shift toward direct-to-consumer. PVH+ is the multi-year plan to run Calvin Klein and Tommy Hilfiger as demand-driven global brands with regional commercial execution, and the clearest read on whether it is working is the channel split. The most optimistic published target, $128.00, assumes this works close to its best case.

The case against. The China listing is the overhang that has no timetable: MOFCOM placed PVH on the List of Unreliable Entities in February 2025 over Xinjiang cotton sourcing, no measures have been imposed as of the report filed in June 2026, and the potential remedies range from fines to bans on importing, exporting or investing in China, in a market supplying roughly 6% of revenue and roughly 20% of pre-impairment operating profit. The most pessimistic target, $70.00, is roughly what PVH is worth if this bites instead.

Read the full bull and bear case on PVH, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see PVH Corp.'s investor relations page or your broker.

• Q1 FY2026 Revenue (13 weeks ended May 3, 2026): ~$2.03 billion, up ~2% reported and down ~2% in constant currency
• Q1 FY2026 EPS: ~$1.90 GAAP and ~$2.01 non-GAAP, above the ~$1.65 to ~$1.80 guided
• Revenue (TTM): ~$9.0 billion
• FY2026 Non-GAAP EPS Guidance: ~$11.80 to ~$12.10, versus ~$0.52 GAAP and ~$11.40 non-GAAP in FY2025
• Gross Margin: ~58.6% in Q1 FY2026, flat year over year, after ~57.5% for FY2025
• Net Debt: ~$1.7 billion (~$2.28 billion of debt less ~$593 million of cash), plus ~$1.9 billion of operating lease liabilities

At roughly ~$82 a share on about 46.1 million shares, the ~$3.8 billion market value equals about ~0.4x trailing revenue and under 7x the midpoint of the company's own FY2026 non-GAAP earnings guidance. Screens disagree wildly on this one because GAAP earnings collapsed to ~$0.52 per share in FY2025 on a ~$480 million pre-tax noncash impairment recorded in the first quarter of that year, while the non-GAAP figure was ~$11.40. Adding net debt, enterprise value of roughly ~$5.5 billion sits near ~7x the ~$790 million of operating profit implied by the ~8.8% non-GAAP margin guide, so the sub-1x sales multiple reflects thin margins and geopolitical risk rather than a business that cannot earn money.

Other names that sit close to PVH: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get PVH exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so PVH sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where PVH fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

PVH is priced as if the brands are worth less than half a year of sales, so the case for and against it both turn on the same three unresolved items: the China listing, the tariff bill, and European demand.

Whether PVH is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is PVH a buy or a sell?, and where the stock could go from here in the PVH stock forecast.

For income investors, whether PVH pays a dividend and how the payout looks is covered in does PVH pay a dividend? And to weigh PVH against a peer, read the full side-by-side comparisons: PVH vs VFC and PVH vs KTB.