LEVI STRAUSS & CO

Listed Company

LEVICIK 0000094845NYSELarge AcceleratedApparel & Other Finishd Prods Of Fabrics & Similar MatlDelawareFY ends Nov 29

Period

FY 2025

Revenue

$6.28B

Net Income

$578.10M

Total Assets

$6.85B

Equity

$2.28B

Shares Out

375.87M

Op. Cash Flow

$529.60M

Business

LEVI STRAUSS & CO is a global apparel company that designs, markets and sells clothing and accessories under the Levi’s and related brands. It offers a range of products including denim jeans, tops, outerwear, footwear and licensed accessories, plus associated design and brand services. The company operates through key channels and segments including wholesale, company-operated retail stores, digital commerce, and licensing/franchise arrangements. It distributes products worldwide through its own stores and websites, third-party retailers, department stores, franchisees and independent distributors.

Summary from filing dated 2025-01-29

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-11-30	FY 2024 2024-11-30	FY 2023 2023-11-30	FY 2022 2022-11-30	FY 2021 2021-11-30
Net revenues	6,282	6,032	5,842	6,169	5,764
Cost of goods sold	2,404	2,375	2,481	2,620	2,417
Gross profit	3,878	3,657	3,361	3,549	3,347
Selling, general and administrative expenses	3,173	3,092	2,896	2,882	2,661
Restructuring charges, net	25	186	20	—	—
Goodwill and other intangible asset impairment charges	3	117	90	12	0
Operating income	678	263	354	647	686
Interest expense	−49	−42	−46	−26	—
Other income (expense), net	5	−3	−42	29	3
Income from continuing operations before income taxes	634	218	266	650	580
Income tax expense	132	7	16	81	27
Net income from continuing operations	502	210	251	—	—
Net income (loss) from discontinued operations, net of taxes	76	200,000	−1	—	—
Net income	578	211	250	569	554
Continuing operations - Basic (usd per share)	1.27	0.53	0.63	—	—
Discontinued operations - Basic (usd per share)	0.19	0	0	—	—
Net income - Basic (usd per share)	1.46	0.53	0.63	1.43	1.38
Continuing operations - Diluted (usd per share)	1.26	0.52	0.62	—	—
Discontinued operations - Diluted (usd per share)	0.19	0	0	—	—
Net income - Diluted (usd per share)	1.45	0.52	0.62	1.41	1.35
Basic (in shares)	396	398	397	397	402
Diluted (in shares)	400	402	402	404	410

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-11-30	FY 2024 2024-11-30	FY 2023 2023-11-30	FY 2022 2022-11-30	FY 2021 2021-11-30
Cash and cash equivalents	758	690	399	430	810
Short-term investments in marketable securities	91	0	0	71	92
Trade receivables, net	775	710	753	697	708
Inventories	1,238	1,131	1,290	1,417	898
Other current assets	239	212	196	214	203
Current assets held for sale	54	108	—	—	—
Total current assets	3,154	2,851	2,638	2,828	2,710
Property, plant and equipment, net	682	687	681	623	503
Goodwill	281	278	304	366	387
Other intangible assets, net	194	197	268	287	291
Deferred tax assets, net	830	799	730	625	573
Operating lease right-of-use assets, net	1,148	1,066	1,034	970	1,104
Other non-current assets	539	464	401	340	333
Non-current assets held for sale	21	35	—	—	—
Total assets	6,849	6,376	6,054	6,038	5,900
Accounts payable	598	663	568	657	525
Accrued salaries, wages and employee benefits	245	234	215	247	275
Accrued sales returns and allowances	226	193	190	180	209
Short-term operating lease liabilities	261	247	246	236	245
Other accrued liabilities	703	672	569	662	615
Total current liabilities	2,033	2,011	1,788	1,982	1,870
Long-term debt	1,039	994	1,009	985	1,021
Long-term operating lease liabilities	1,006	943	—	—	—
Long-term employee related benefits	253	254	102	105	109
Other long-term liabilities	240	204	50	55	59
Total liabilities	4,570	4,405	4,007	4,134	4,234
Commitments and contingencies	—	—	—	—	—
Common stock $0.001 par value; 1,200,000,000 Class A shares authorized; 103,620,225 shares and 103,984,741 shares issued and outstanding as of November 30, 2025 and December 1, 2024, respectively; and 422,000,000 Class B shares authorized, 286,756,831 shares and 291,411,568 shares issued and outstanding, as of November 30, 2025 and December 1, 2024, respectively	400,000	400,000	400,000	400,000	400,000
Additional paid-in capital	788	733	687	626	585
Retained earnings	1,897	1,672	1,750	1,699	1,475
Accumulated other comprehensive loss	−407	−435	−391	−422	−394
Equity, Attributable to Parent, Total	2,279	1,971	2,046	1,904	—
Total liabilities and stockholders equity	6,849	6,376	6,054	6,038	5,900

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-11-30	FY 2024 2024-11-30	FY 2023 2023-11-30	FY 2022 2022-11-30	FY 2021 2021-11-30
Depreciation and amortization	206	193	165	159	143
Property, plant, equipment and right-of-use asset impairment, and gain/loss on early lease terminations, net	16	22	66	26	22
Gain on sale of business, prior to costs to sell	−156	0	0	—	—
Gain on sale of assets	−9	0	0	—	—
Realized (gain) loss on foreign currency contracts not designated for hedge accounting	−24	17	−16	—	—
Realized gain on foreign currency contracts designated for hedge accounting	−12	−2	−7	—	—
Stock-based compensation	82	63	74	61	60
Benefit from deferred income taxes	−16	−91	−104	−60	—
Other, net	20	18	26	12	34
Net change in operating assets and liabilities	−158	351	−109	−550	−24
Net cash provided by operating activities	530	898	436	228	737
Proceeds from sale of business	195	0	0	—	—
Purchases of property, plant and equipment	−221	−228	−314	−267	−167
Net proceeds from sales of assets	23	0	0	—	—
Payments to acquire business	0	−34	−12	0	−391
Proceeds (payments) on settlement of forward foreign exchange contracts not designated for hedge accounting	24	−17	16	12	−18
Payments to acquire short-term investments	−135	0	0	−73	−123
Proceeds from sale, maturity and collection of short-term investments	46	0	71	93	127
Other investing activities, net	0	−2	−2	−1	0
Net cash used for investing activities	−69	−281	−241	−236	−572
Proceeds from issuance of long-term debt, net of issuance costs	543	0	0	—	—
Repayments of long-term debt including extinguishment costs	550	0	0	—	—
Proceeds from senior revolving credit facility	0	0	200	404	0
Repayments of senior revolving credit facility	0	0	−200	−404	0
Accelerated share repurchase	−120	0	0	—	0
Repurchase of common stock	−31	−90	−8	−176	−86
Tax withholdings on equity awards	−22	−25	−23	−29	−109
Dividend to stockholders	−213	−199	−191	−174	−104
Other financing activities, net	−7	−6	7	14	−7
Net cash (used for) provided by financing activities	−400	−319	−214	−365	−841
Effect of exchange rate changes on cash and cash equivalents and restricted cash	7	−7	−12	−8	−12
Net increase (decrease) in cash and cash equivalents and restricted cash	68	291	−31	−381	−687
Property, plant and equipment acquired and not yet paid at end of period	51	65	60	93	72
Cash paid for interest during the period	37	38	43	38	54
Income taxes	160	102	89	129	110

Filings

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