undamentalytics Newsletter
Sign in

Levi Strauss & Co key statistics and ratios

In fiscal 2025, Levi Strauss & Co had return on equity of 27.2%, an operating margin of 10.8%, debt equal to 45.6% of equity and a current ratio of 1.55. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Nov 20092010Nov 20102011Nov 20112012Nov 20122013Nov 20132014Nov 20142015Nov 20152016Nov 20162017Nov 20172018Nov 20182019Nov 20192020Nov 20202021Nov 20212022Nov 20222023Nov 20232024Dec 20242025Nov 2025LTMAug 2026
Gross margin48.1%50.4%48.1%47.7%50.2%49.4%50.5%51.2%52.3%53.8%53.8%52.8%58.1%57.5%57.5%60.6%61.7%62.8%
Operating margin9.2%8.6%7.1%7.2%9.9%6.6%9.6%10.2%9.8%9.7%9.8%−1.9%11.9%10.5%6.1%4.4%10.8%11.3%
Net margin3.7%3.5%2.9%3.1%4.9%2.2%4.7%6.4%5.7%5.1%6.8%−2.9%9.6%9.2%4.3%3.5%9.2%8.8%
Free-cash-flow margin7.4%−0.2%−2.7%9.7%6.8%3.4%2.5%4.5%8.3%4.7%4.1%7.6%9.9%−0.6%2.1%11.1%4.9%9.6%
Return on equity—————65.3%86.6%69.3%46.6%41.7%35.5%−8.9%37.3%31.9%12.6%10.5%27.2%25.1%
Return on assets—5.0%4.3%4.5%7.3%3.5%7.2%9.9%8.9%8.2%10.2%−2.6%9.6%9.5%4.1%3.4%8.7%8.6%
Asset turnover—1.411.481.431.491.581.551.551.551.621.480.901.001.030.970.970.950.97
Current ratio—2.172.002.112.341.691.812.212.272.172.462.021.451.431.481.421.551.63
Debt to equity————900.5%798.7%349.0%205.1%154.6%159.4%64.9%120.4%61.6%52.5%49.9%50.7%45.6%43.2%
Interest cover (operating income ÷ interest)2.5x2.8x2.5x2.5x3.6x2.7x5.3x6.3x7.0x9.8x8.6xn/m9.4x25.2x7.7x6.3x13.9x14.4x
Effective tax rate20.6%36.6%33.4%28.0%29.3%32.2%32.4%28.5%18.4%43.0%17.3%—4.6%12.4%5.9%3.3%20.8%21.9%
SG&A as % of revenue38.9%41.8%41.1%40.5%40.3%40.1%40.6%41.0%42.5%44.1%44.0%52.7%46.2%46.7%49.6%51.3%50.5%51.0%
Capital spending as % of revenue2.0%3.5%2.7%1.8%2.0%1.5%2.3%2.3%2.4%2.9%3.0%2.9%2.9%4.3%5.4%3.8%3.5%3.1%
Free cash flow ÷ net income201.4%−5.3%−93.3%310.8%139.4%150.4%54.3%70.0%144.7%92.2%60.0%—103.1%−6.9%48.8%318.6%53.3%109.0%
Dividends ÷ net income13.2%12.8%14.5%13.9%10.9%28.3%23.9%20.6%24.9%31.8%28.9%—18.9%30.6%76.3%94.3%36.8%38.0%
Dividends and buybacks ÷ free cash flow6.5%——4.6%9.6%22.1%47.6%30.7%23.3%44.9%49.4%35.3%33.4%—162.9%43.0%79.0%34.8%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

5 of 7 checks passed · August 30, 2026
What it owns · $6.9bn
Short-term assets $3.2bnLonger-term assets $3.7bn
What it owes, and who funded it · $6.9bn
Short-term liabilities $2.0bnLonger-term liabilities $2.5bnShareholders' equity $2.4bn
  • Short-term assets cover short-term liabilities $3.2bn of assets due within a year against $2.0bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $3.2bn short-term assets against $2.5bn of longer-dated liabilities.
  • More cash than debt $641m of cash against $1.0bn of debt.
  • Debt below 40% of shareholders' equity Debt is 43% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 59% to 43% over five years.
  • A year's operating cash flow covers at least 20% of debt $852m of operating cash flow against $1.0bn of debt.
  • Operating profit covers interest at least five times over Operating income of $754m against $52m of interest.

From Levi Strauss & Co's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

56 /100

Moderate moat

How hard Levi Strauss &'s competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 12 / 20

    Cash operating profit has been a median 9.5% of total assets over 10 years.

  • Pricing power 17 / 20

    Gross margin has been a median 56.9%, moving by 3.8 percentage points (standard deviation) across 10 years.

  • Durability 2 / 20

    Operating margin has been a median 10.0%; its worst year was -1.0%.

  • Cash conversion 12 / 20

    Free cash flow was positive in 9 of 10 years, at a median 6.1% of revenue.

  • Discipline 18 / 20

    The diluted share count fell 4.3% over five years; stock-based pay has been a median 1.1% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (61 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: LEVI vs TPRLEVI vs RLLEVI vs PVHLEVI vs UAA

More: Apparel, Accessories & Luxury Goods stocks compared, Consumer Discretionary sector, rankings of US companies

Figures from Levi Strauss & Co's SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Levi Strauss & Co.