Intrinsic value of PVH Corp. - PVH

Previous Close

$126.07

  Intrinsic Value

$142.39

stock screener

  Rating & Target

hold

+13%

  Value-price divergence*

+74%

Previous close

$126.07

 
Intrinsic value

$142.39

 
Up/down potential

+13%

 
Rating

hold

 
Value-price divergence*

+74%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of PVH stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 9.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.28
  7.10
  6.89
  6.70
  6.53
  6.38
  6.24
  6.12
  6.00
  5.90
  5.81
  5.73
  5.66
  5.59
  5.53
  5.48
  5.43
  5.39
  5.35
  5.32
  5.28
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
Revenue, $m
  8,203
  8,785
  9,391
  10,020
  10,674
  11,355
  12,064
  12,802
  13,570
  14,371
  15,207
  16,079
  16,989
  17,939
  18,931
  19,969
  21,054
  22,188
  23,375
  24,618
  25,919
  27,281
  28,707
  30,202
  31,768
  33,410
  35,131
  36,935
  38,827
  40,811
  42,892
Variable operating expenses, $m
 
  7,373
  7,857
  8,360
  8,883
  9,428
  9,994
  10,584
  11,199
  11,840
  12,508
  12,858
  13,586
  14,346
  15,139
  15,969
  16,837
  17,744
  18,693
  19,687
  20,727
  21,816
  22,957
  24,153
  25,405
  26,718
  28,094
  29,537
  31,050
  32,637
  34,301
Fixed operating expenses, $m
 
  537
  551
  564
  578
  593
  608
  623
  638
  654
  671
  688
  705
  722
  740
  759
  778
  797
  817
  838
  859
  880
  902
  925
  948
  971
  996
  1,021
  1,046
  1,072
  1,099
Total operating expenses, $m
  7,414
  7,910
  8,408
  8,924
  9,461
  10,021
  10,602
  11,207
  11,837
  12,494
  13,179
  13,546
  14,291
  15,068
  15,879
  16,728
  17,615
  18,541
  19,510
  20,525
  21,586
  22,696
  23,859
  25,078
  26,353
  27,689
  29,090
  30,558
  32,096
  33,709
  35,400
Operating income, $m
  789
  876
  983
  1,096
  1,213
  1,335
  1,462
  1,594
  1,733
  1,877
  2,028
  2,533
  2,698
  2,871
  3,052
  3,241
  3,439
  3,647
  3,865
  4,093
  4,333
  4,584
  4,848
  5,125
  5,416
  5,721
  6,041
  6,378
  6,731
  7,102
  7,492
EBITDA, $m
  1,111
  1,418
  1,539
  1,666
  1,797
  1,934
  2,077
  2,226
  2,382
  2,544
  2,714
  2,891
  3,076
  3,270
  3,473
  3,685
  3,908
  4,141
  4,385
  4,641
  4,910
  5,191
  5,487
  5,797
  6,122
  6,464
  6,823
  7,199
  7,595
  8,010
  8,447
Interest expense (income), $m
  105
  112
  128
  144
  160
  178
  196
  215
  235
  255
  276
  299
  322
  346
  372
  398
  426
  455
  485
  517
  550
  584
  621
  659
  698
  740
  784
  830
  878
  928
  981
Earnings before tax, $m
  674
  764
  856
  952
  1,052
  1,157
  1,266
  1,379
  1,498
  1,622
  1,752
  2,234
  2,376
  2,525
  2,680
  2,843
  3,014
  3,192
  3,380
  3,577
  3,783
  4,000
  4,227
  4,466
  4,717
  4,980
  5,257
  5,548
  5,853
  6,174
  6,511
Tax expense, $m
  125
  206
  231
  257
  284
  312
  342
  372
  404
  438
  473
  603
  642
  682
  724
  768
  814
  862
  913
  966
  1,021
  1,080
  1,141
  1,206
  1,274
  1,345
  1,419
  1,498
  1,580
  1,667
  1,758
Net income, $m
  549
  558
  625
  695
  768
  844
  924
  1,007
  1,094
  1,184
  1,279
  1,631
  1,735
  1,843
  1,956
  2,075
  2,200
  2,330
  2,467
  2,611
  2,762
  2,920
  3,086
  3,260
  3,443
  3,636
  3,838
  4,050
  4,273
  4,507
  4,753

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  730
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  11,068
  11,079
  11,842
  12,636
  13,461
  14,319
  15,213
  16,143
  17,113
  18,123
  19,176
  20,276
  21,423
  22,621
  23,873
  25,181
  26,549
  27,980
  29,477
  31,044
  32,684
  34,402
  36,201
  38,086
  40,061
  42,131
  44,301
  46,577
  48,962
  51,464
  54,088
Adjusted assets (=assets-cash), $m
  10,338
  11,079
  11,842
  12,636
  13,461
  14,319
  15,213
  16,143
  17,113
  18,123
  19,176
  20,276
  21,423
  22,621
  23,873
  25,181
  26,549
  27,980
  29,477
  31,044
  32,684
  34,402
  36,201
  38,086
  40,061
  42,131
  44,301
  46,577
  48,962
  51,464
  54,088
Revenue / Adjusted assets
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
  0.793
Average production assets, $m
  4,381
  4,691
  5,015
  5,351
  5,700
  6,064
  6,442
  6,836
  7,247
  7,674
  8,120
  8,586
  9,072
  9,579
  10,109
  10,663
  11,243
  11,849
  12,482
  13,146
  13,841
  14,568
  15,330
  16,128
  16,964
  17,841
  18,760
  19,723
  20,734
  21,793
  22,904
Working capital, $m
  1,315
  650
  695
  741
  790
  840
  893
  947
  1,004
  1,063
  1,125
  1,190
  1,257
  1,327
  1,401
  1,478
  1,558
  1,642
  1,730
  1,822
  1,918
  2,019
  2,124
  2,235
  2,351
  2,472
  2,600
  2,733
  2,873
  3,020
  3,174
Total debt, $m
  3,216
  3,645
  4,106
  4,585
  5,083
  5,602
  6,142
  6,704
  7,289
  7,899
  8,536
  9,200
  9,893
  10,616
  11,372
  12,163
  12,989
  13,853
  14,757
  15,704
  16,694
  17,732
  18,818
  19,957
  21,150
  22,400
  23,711
  25,085
  26,526
  28,037
  29,622
Total liabilities, $m
  6,263
  6,692
  7,153
  7,632
  8,130
  8,649
  9,189
  9,751
  10,336
  10,946
  11,583
  12,247
  12,940
  13,663
  14,419
  15,210
  16,036
  16,900
  17,804
  18,751
  19,741
  20,779
  21,865
  23,004
  24,197
  25,447
  26,758
  28,132
  29,573
  31,084
  32,669
Total equity, $m
  4,805
  4,387
  4,689
  5,004
  5,330
  5,670
  6,024
  6,393
  6,777
  7,177
  7,594
  8,029
  8,484
  8,958
  9,454
  9,972
  10,514
  11,080
  11,673
  12,293
  12,943
  13,623
  14,336
  15,082
  15,864
  16,684
  17,543
  18,444
  19,389
  20,380
  21,419
Total liabilities and equity, $m
  11,068
  11,079
  11,842
  12,636
  13,460
  14,319
  15,213
  16,144
  17,113
  18,123
  19,177
  20,276
  21,424
  22,621
  23,873
  25,182
  26,550
  27,980
  29,477
  31,044
  32,684
  34,402
  36,201
  38,086
  40,061
  42,131
  44,301
  46,576
  48,962
  51,464
  54,088
Debt-to-equity ratio
  0.669
  0.830
  0.880
  0.920
  0.950
  0.990
  1.020
  1.050
  1.080
  1.100
  1.120
  1.150
  1.170
  1.190
  1.200
  1.220
  1.240
  1.250
  1.260
  1.280
  1.290
  1.300
  1.310
  1.320
  1.330
  1.340
  1.350
  1.360
  1.370
  1.380
  1.380
Adjusted equity ratio
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  549
  558
  625
  695
  768
  844
  924
  1,007
  1,094
  1,184
  1,279
  1,631
  1,735
  1,843
  1,956
  2,075
  2,200
  2,330
  2,467
  2,611
  2,762
  2,920
  3,086
  3,260
  3,443
  3,636
  3,838
  4,050
  4,273
  4,507
  4,753
Depreciation, amort., depletion, $m
  322
  542
  556
  570
  585
  600
  615
  632
  649
  667
  685
  358
  378
  399
  421
  444
  468
  494
  520
  548
  577
  607
  639
  672
  707
  743
  782
  822
  864
  908
  954
Funds from operations, $m
  1,084
  1,100
  1,181
  1,265
  1,353
  1,444
  1,539
  1,639
  1,743
  1,851
  1,964
  1,989
  2,113
  2,242
  2,378
  2,520
  2,668
  2,824
  2,988
  3,159
  3,338
  3,527
  3,725
  3,932
  4,150
  4,379
  4,619
  4,872
  5,137
  5,415
  5,707
Change in working capital, $m
  129
  43
  45
  47
  48
  50
  52
  55
  57
  59
  62
  65
  67
  70
  73
  77
  80
  84
  88
  92
  96
  101
  106
  111
  116
  121
  127
  134
  140
  147
  154
Cash from operations, $m
  955
  1,057
  1,136
  1,218
  1,304
  1,394
  1,487
  1,584
  1,686
  1,792
  1,902
  1,924
  2,045
  2,172
  2,304
  2,443
  2,588
  2,740
  2,900
  3,067
  3,242
  3,426
  3,619
  3,822
  4,034
  4,258
  4,492
  4,738
  4,997
  5,268
  5,553
Maintenance CAPEX, $m
  0
  -183
  -195
  -209
  -223
  -238
  -253
  -268
  -285
  -302
  -320
  -338
  -358
  -378
  -399
  -421
  -444
  -468
  -494
  -520
  -548
  -577
  -607
  -639
  -672
  -707
  -743
  -782
  -822
  -864
  -908
New CAPEX, $m
  -247
  -311
  -323
  -336
  -349
  -364
  -378
  -394
  -410
  -428
  -446
  -465
  -486
  -507
  -530
  -554
  -579
  -606
  -634
  -663
  -695
  -727
  -762
  -798
  -836
  -877
  -919
  -963
  -1,010
  -1,059
  -1,111
Cash from investing activities, $m
  -481
  -494
  -518
  -545
  -572
  -602
  -631
  -662
  -695
  -730
  -766
  -803
  -844
  -885
  -929
  -975
  -1,023
  -1,074
  -1,128
  -1,183
  -1,243
  -1,304
  -1,369
  -1,437
  -1,508
  -1,584
  -1,662
  -1,745
  -1,832
  -1,923
  -2,019
Free cash flow, $m
  474
  563
  617
  673
  732
  793
  856
  922
  990
  1,062
  1,136
  1,120
  1,202
  1,286
  1,375
  1,468
  1,564
  1,666
  1,772
  1,883
  2,000
  2,122
  2,250
  2,385
  2,526
  2,674
  2,830
  2,993
  3,165
  3,345
  3,534
Issuance/(repayment) of debt, $m
  15
  448
  461
  479
  498
  519
  540
  562
  585
  610
  636
  664
  693
  724
  756
  790
  826
  864
  904
  946
  991
  1,037
  1,087
  1,138
  1,193
  1,250
  1,311
  1,374
  1,441
  1,511
  1,585
Issuance/(repurchase) of shares, $m
  -309
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -291
  448
  461
  479
  498
  519
  540
  562
  585
  610
  636
  664
  693
  724
  756
  790
  826
  864
  904
  946
  991
  1,037
  1,087
  1,138
  1,193
  1,250
  1,311
  1,374
  1,441
  1,511
  1,585
Total cash flow (excl. dividends), $m
  186
  1,011
  1,078
  1,153
  1,230
  1,311
  1,396
  1,484
  1,576
  1,672
  1,773
  1,784
  1,895
  2,010
  2,131
  2,258
  2,391
  2,530
  2,676
  2,830
  2,991
  3,160
  3,337
  3,523
  3,719
  3,924
  4,140
  4,367
  4,605
  4,856
  5,119
Retained Cash Flow (-), $m
  -253
  -293
  -302
  -314
  -327
  -340
  -354
  -368
  -384
  -400
  -417
  -435
  -454
  -474
  -496
  -518
  -542
  -567
  -593
  -620
  -650
  -680
  -712
  -746
  -782
  -820
  -859
  -901
  -945
  -991
  -1,039
Prev. year cash balance distribution, $m
 
  711
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  1,429
  776
  838
  903
  971
  1,042
  1,115
  1,192
  1,272
  1,356
  1,349
  1,440
  1,536
  1,635
  1,740
  1,849
  1,963
  2,083
  2,209
  2,341
  2,479
  2,625
  2,777
  2,937
  3,105
  3,281
  3,466
  3,661
  3,865
  4,080
Discount rate, %
 
  5.80
  6.09
  6.39
  6.71
  7.05
  7.40
  7.77
  8.16
  8.57
  9.00
  9.45
  9.92
  10.42
  10.94
  11.48
  12.06
  12.66
  13.29
  13.96
  14.66
  15.39
  16.16
  16.97
  17.81
  18.71
  19.64
  20.62
  21.65
  22.74
  23.87
PV of cash for distribution, $m
 
  1,351
  689
  696
  697
  691
  679
  660
  636
  607
  573
  500
  463
  424
  382
  341
  299
  259
  220
  185
  152
  123
  97
  76
  57
  43
  31
  22
  15
  10
  7
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

PVH Corp. is an apparel company. The Company operates through three segments: Calvin Klein, which consists of the Calvin Klein North America and Calvin Klein International segments; Tommy Hilfiger, which consists of the Tommy Hilfiger North America and Tommy Hilfiger International segments, and Heritage Brands, which consists of the Heritage Brands Wholesale and Heritage Brands Retail segments. The Company's brand portfolio consists of various brand names, including Calvin Klein, Tommy Hilfiger, Van Heusen, IZOD, ARROW, Warner's, Olga and Eagle, which are owned, and Speedo, Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, Sean John, MICHAEL Michael Kors, Michael Kors Collection and Chaps, which are licensed, as well as various other licensed and private label brands. The Company designs and markets dress shirts, neckwear, sportswear, jeanswear, intimate apparel, swim products and handbags, footwear and other related products.

FINANCIAL RATIOS  of  PVH Corp. (PVH)

Valuation Ratios
P/E Ratio 18
Price to Sales 1.2
Price to Book 2.1
Price to Tangible Book
Price to Cash Flow 10.4
Price to Free Cash Flow 14
Growth Rates
Sales Growth Rate 2.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -6.4%
Cap. Spend. - 3 Yr. Gr. Rate 0.8%
Financial Strength
Quick Ratio 38
Current Ratio 0
LT Debt to Equity 66.5%
Total Debt to Equity 66.9%
Interest Coverage 7
Management Effectiveness
Return On Assets 5.8%
Ret/ On Assets - 3 Yr. Avg. 5.8%
Return On Total Capital 7%
Ret/ On T. Cap. - 3 Yr. Avg. 6.6%
Return On Equity 11.7%
Return On Equity - 3 Yr. Avg. 11.6%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 53.3%
Gross Margin - 3 Yr. Avg. 52.6%
EBITDA Margin 13.4%
EBITDA Margin - 3 Yr. Avg. 11.8%
Operating Margin 9.6%
Oper. Margin - 3 Yr. Avg. 8.5%
Pre-Tax Margin 8.2%
Pre-Tax Margin - 3 Yr. Avg. 7%
Net Profit Margin 6.7%
Net Profit Margin - 3 Yr. Avg. 6.4%
Effective Tax Rate 18.5%
Eff/ Tax Rate - 3 Yr. Avg. 6%
Payout Ratio 2.2%

PVH stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PVH stock intrinsic value calculation we used $8203 million for the last fiscal year's total revenue generated by PVH Corp.. The default revenue input number comes from 2017 income statement of PVH Corp.. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our PVH stock valuation model: a) initial revenue growth rate of 7.1% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.8%, whose default value for PVH is calculated based on our internal credit rating of PVH Corp., is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of PVH Corp..
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of PVH stock the variable cost ratio is equal to 84.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $524 million in the base year in the intrinsic value calculation for PVH stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for PVH Corp..

Corporate tax rate of 27% is the nominal tax rate for PVH Corp.. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the PVH stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for PVH are equal to 53.4%.

Life of production assets of 24 years is the average useful life of capital assets used in PVH Corp. operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for PVH is equal to 7.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $4805 million for PVH Corp. - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 77.204 million for PVH Corp. is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of PVH Corp. at the current share price and the inputted number of shares is $9.7 billion.

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KORS Michael Kors H 46.16 70.43  str.buy
GES Guess? 16.06 15.31  hold
VFC VF 62.20 48.46  sell
PERY Perry Ellis In 22.35 4.67  str.sell
DLA Delta Apparel 21.82 6.63  str.sell

COMPANY NEWS

▶ Michael Kors Shows Rising Price Performance With Jump To 81 RS Rating   [Sep-20-17 03:00AM  Investor's Business Daily]
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▶ Luxury Retailer Designing New Base After Soaring On Earnings   [Sep-15-17 11:12AM  Investor's Business Daily]
▶ Can This 2017 IPO Stock Break Out And Take Flight?   [Sep-14-17 11:21AM  Investor's Business Daily]
▶ Ralph Lauren Trying To Close In On Key Technical Benchmark   [03:00AM  Investor's Business Daily]
▶ Coach Stock Down 15% in a Month: What Gives?   [Sep-11-17 04:05PM  Zacks]
▶ G-III Apparel Sees RS Rating Climb To 77   [Sep-07-17 03:00AM  Investor's Business Daily]
▶ Stocks Showing Improved Relative Strength: Ralph Lauren   [03:00AM  Investor's Business Daily]
▶ ETFs with exposure to PVH Corp. : September 6, 2017   [Sep-05-17 09:50PM  Capital Cube]
▶ Stocks Generating Improved Relative Strength: Hanesbrands   [03:00AM  Investor's Business Daily]
▶ PVH: Telsey Advisory, Cowen & Co. Raise Price Targets   [Aug-31-17 07:36AM  Market Realist]
▶ Under Armour's stock dives on Kevin Durant's comments   [Aug-30-17 12:59PM  Yahoo Finance Video]
▶ A Look at PVH Corps 2Q17 Revenue Drivers   [Aug-29-17 01:06PM  Market Realist]
▶ Inside PVH Corps 2Q17 Earnings   [09:40AM  Market Realist]
▶ Consumer Sector: Post-Earnings Coverage for August 2125   [Aug-28-17 11:08AM  Market Realist]
▶ These 2 Retailers Had Vision, and It Saved Them from Ruin   [Aug-27-17 08:00PM  TheStreet.com]
▶ Company News For August 25, 2017   [Aug-25-17 09:46AM  Zacks]
▶ Cramer: These 2 Retailers Had Vision, and It Saved Them   [Aug-24-17 07:01PM  TheStreet.com]
▶ PVH Has the Right Fit for Longs   [02:47PM  TheStreet.com]
▶ Stocks to Watch: Dollar Tree, PVH, HP Inc., Sears, Staples   [09:27AM  The Wall Street Journal]
▶ PVH Corp.: Cramer's Top Takeaways   [06:42AM  TheStreet.com]
▶ [$$] Apparel Retailers Pushing Discounts to Win Customers   [12:22AM  The Wall Street Journal]
▶ PVH beats Street 2Q forecasts   [Aug-23-17 09:26PM  Associated Press]
▶ [$$] Apparel Retailers Pushing Discounts to Win Customers   [06:58PM  The Wall Street Journal]
▶ PVH taking market share in Europe   [06:48PM  CNBC Videos]
▶ PVH Corp beats on top and bottom line   [04:32PM  CNBC Videos]
▶ PVH beats Street 2Q forecasts   [04:26PM  Associated Press]
▶ Consumer Sector Pre-Earnings Coverage for August 2225, 2017   [Aug-21-17 02:07PM  Market Realist]
▶ [$$] Where to Shop for Retail Stocks   [Aug-18-17 11:22PM  Barrons.com]
▶ What Wall Street Thinks of PVH Corp Now   [Aug-17-17 07:36AM  Market Realist]
▶ How Will PVH Corps Earnings Shape up in 2Q17?   [Aug-16-17 10:36AM  Market Realist]
▶ Can PVH Corp Top Street Expectations Again?   [Aug-15-17 04:59PM  Market Realist]
▶ The Case For Buying Retail---Selectively   [Aug-14-17 02:32PM  Barrons.com]
▶ Narrative is changing on retail: Jim Cramer   [Aug-08-17 09:05AM  CNBC Videos]
▶ 1Q18: Will Michael Kors Post another Weak Quarter?   [Aug-04-17 05:30PM  Market Realist]
▶ Two big calls of the day   [Aug-03-17 01:50PM  CNBC Videos]
▶ PVH Corp. Releases 2016 Corporate Responsibility Report   [Jul-31-17 10:30AM  Business Wire]
▶ Cramer: Are Clothing Retailers Making Nice With Amazon?   [Jul-21-17 11:33AM  TheStreet.com]
▶ Top Ranked Momentum Stocks to Buy for July 17th   [Jul-17-17 09:30AM  Zacks]
▶ What Wall Street Recommends for VFC ahead of 2Q17 Results   [Jul-14-17 07:36AM  Market Realist]
▶ Sale in retail stocks? 4 trades   [Jul-13-17 05:00PM  CNBC Videos]
▶ How Has VFC Stock Performed?   [10:37AM  Market Realist]
▶ VFCs Earnings Likely to Drop 20% in 2Q17   [09:08AM  Market Realist]
▶ Why VFC Will Likely See Another Quarter of Sales Declines   [Jul-12-17 06:05PM  Market Realist]
Financial statements of PVH
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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