Income Statement Research
Review the full annual statement in one scroll, from headline results to detailed SEC line items, margin conversion, and growth diagnostics.
Snapshot
V. F. CORPORATION's top line, gross profit, operating income, and bottom-line conversion. Values in USD millions.
Revenue
-5.1%Compound growth, FY2022 to FY2026
Gross profit
-5.0%Compound growth, FY2022 to FY2026
Operating Income
-22.9%Compound growth, FY2022 to FY2026
Net income
-34.5%Compound growth, FY2022 to FY2026
Headline results
Four lines, five fiscal years, straight from the filings.
V. F. CORPORATION headline income statement — FY2026
Trend
The same four lines drawn across the window.
All values shown in USD millions unless noted otherwise.
Line items
The full annual income statement layer for V. F. CORPORATION, from revenue down to share counts.
Statement basis
USD millions, except per-share and share-count rows.
V. F. CORPORATION expanded income statement — FY2026
Expanded annual statement lines sourced from the SEC EDGAR database for V. F. CORPORATION.
Margins
How much of V. F. CORPORATION's revenue survives through gross profit, operating income, and net income.
Gross margin
+27 bpsFY2026, versus FY2022
Operating Margin
-778 bpsFY2026, versus FY2022
Net income margin
-906 bpsFY2026, versus FY2022
Observation window
yearsFY2022 through FY2026
Margin table
Side-by-side read of gross, operating and net margin.
V. F. CORPORATION margins — FY2026
Margin trend
The shape of profitability across the window.
Margins are calculated from annual SEC facts using reported revenue as the denominator.
Year on year
Every headline line of V. F. CORPORATION's statement measured against the immediately prior period.
Revenue YoY
FY2025FY2026 versus FY2025
Gross profit YoY
FY2025FY2026 versus FY2025
Op. income YoY
FY2025FY2026 versus FY2025
Net income YoY
FY2025FY2026 versus FY2025
Year-on-year table
Contractions are tinted so slowdowns are obvious.
V. F. CORPORATION year-on-year change — FY2026
Momentum
Whether the business is accelerating or rolling over.
Year-on-year change compares each annual period against the immediately prior year inside the selected window.
Compound growth
Compounded annual growth from FY2022 to FY2026, which filters out one-year noise.
Revenue CAGR
4yrFY2022 to FY2026
Gross profit CAGR
4yrFY2022 to FY2026
Op. income CAGR
4yrFY2022 to FY2026
Net income CAGR
4yrFY2022 to FY2026
Compound rates use the first and last reported year in the window, so a gap in either endpoint suppresses the figure.
Commentary
A written read of the filing-backed figures above. The statement itself remains the source of truth.
This explanation uses an earlier data snapshot or evidence version. Compare its generation date with the current filing figures.
Over the five-year period, V. F. CORPORATION’s revenue gradually declined from approximately USD 11.8 billion in 2022 to about USD 9.6 billion in 2026, with a notable drop between 2022 and 2023. Gross profit followed a similar pattern, decreasing from around USD 6.46 billion to USD 5.26 billion. Operating income exhibited marked volatility: after reaching USD 1.63 billion in 2022, it fell nearly 39% to roughly USD 998 million in 2023, then turned negative by approximately USD 144 million in 2024—indicating a significant operational setback. A recovery trend appears in 2025 and 2026 with operating income climbing to USD 304 million and USD 577 million respectively, yet these figures remain below its earlier peak. Net income experienced even sharper fluctuations. The robust net income of USD 1.39 billion in 2022 dramatically dropped to about USD 119 million in 2023 and plunged further into a loss of nearly USD 969 million in 2024, marking a series of swings well over 20% year-over-year. By 2025, losses began to narrow, and by 2026 the company returned to modest profitability with a net income of approximately USD 255 million. Given the competitive and dynamic nature of the retail and apparel industry, these year-over-year swings, likely driven by market conditions and internal operational challenges, suggest that while there are signs of recovery in recent years, the company is still grappling with sustaining consistent operational efficiency and profitability. Overall, the financial health of V. F. CORPORATION appears to be in a transitional phase, and continued improvements in revenue stability and operational execution will be critical for long-term sustainability.
This analysis is for informational purposes only and does not constitute financial advice or a recommendation for any investment decision. Please consult a qualified financial professional for personalised guidance.
