Episode Details

VF Corporation Q1 2026 earnings breakdown - conversational walkthrough with a price-aware verdict and Wall Street consensus comparison. THE CALL: HOLD (3/5 conviction, MODERATE) - CURRENT @ $16.02 - same - BUY below $13.50 with $12.00 stop - AVOID above $21.50 TRIGGER: Two consecutive quarters of positive Vans year over year revenue growth and net debt under $3.5 billion would upgrade this to a Buy. WINDOW: 12-24 months. TRACKER: charged-alpha.com/calls/VFC WALL STREET CONSENSUS - Ratings: 0 Strong Buy / 9 Buy / 13 Hold / 4 Sell / 0 Strong Sell - HOLD - Median 12-month price target: $20.00 (range $18 - $25) - Charged Alpha vs consensus: Charged Alpha call is broadly in line with consensus. THESIS VFC is a deleveraging turnaround where free cash flow funds debt paydown and Reinvent program execution under CEO Bracken Darrell. Bull lever: If Vans stabilizes and TNF holds momentum, FY2028 EPS power of $1.30 plus a re-rate from 1.1x to 1.5x EV/Sales implies a $22 to $25 stock. Key risk: Net debt of $4.16 billion against just $1 billion of EBITDA gives no margin for error if a fashion cycle turns or recession hits. QUALITY CHECK - Management quality grade: B (Bracken Darrell, who took the CEO seat in July 2023 after a successful run at Logitech, is two and a half years into the Reinvent turnaround. FY2026 results validate the playbook: cost outs, brand reset, deleveraging. But Vans is still negative and execution risk remains.) - Earnings quality grade: B (Cash conversion is strong on a TTM basis at 2.4 times net income, and SBC is low at 0.6% of revenue. The goodwill and intangibles exposure from past acquisitions remains a watch item but is no longer growing.) CHAPTERS 0:00 Hook 0:33 The Print 1:46 The Trend 2:39 The Segments 3:27 The FCF Bridge 4:19 Guidance & The Narrative Diff 5:11 Peer Dot-Plot 5:54 Management & Earnings Quality 7:07 S8_Call KEY METRICS - Q4 FY2026 - Revenue: $2,166M (+1.04% YoY, +1.2% vs est) - EPS GAAP: -$0.30 (vs -$0.34 est, +11.8% beat) - Gross margin: 52.5% - Operating margin: -3.2% (seasonal Q4) - FY FCF: $1.14B (+30% YoY) - full-year positive - Net debt: $4.16B (4.3x EBITDA, improving) SEGMENT HIGHLIGHTS - The North Face: stable, modest comps - Vans: still declining YoY, management focused - Supreme: contributing; collab pipeline active - Dickies: flat workwear demand GUIDANCE - FY27 revenue in-line with estimates - Reinvent program on track; FCF debt paydown priority DATA SOURCES - FMP (financialmodelingprep.com) - VF Corporation Q4 FY2026 Earnings Release (2026-05-20) DISCLAIMER This is for informational and entertainment purposes only. Not financial advice. Charged Alpha does not have a position in VFC. Do your own research before any investment decision. #VFC #VFCorporation #NorthFace #Vans #Supreme #apparel #earnings #investing #ChargedAlpha