Levi Strauss & Co. (LEVI) Stock

Levi Strauss & Co. (LEVI) is a Consumer Discretionary stock trading at $21.09 (as of 2026-08-25), with a market capitalization of $8.22B and a trailing P/E of 12.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Levi Strauss & Co. operates as an apparel company. The company designs, markets, and sells jeans, casual and dress pants, activewear, tops, shorts, skirts, dresses, jackets, footwear, and related accessories for men, women, and children in the Americas, Europe, and Asia. It also sells its products under the Levi's, Dockers, Signature by Levi Strauss & Co., and Denizen brands. In addition, the company licenses Levi's and Dockers trademarks for various product categories, including footwear, belts, wallets and bags, outerwear, sweaters, dress shirts, kids wear, sleepwear, and hosiery. Further, it sells its products through third-party retailers, such as department stores, specialty retailers, third-party e-commerce sites, and franchisees who operate brand-dedicated stores; and directly to consumers through various formats, including company-operated mainline and outlet stores, company-operated e-commerce sites, and select shop-in-shops located in department stores, and other third-party retail locations. The company also operates approximately 3,100 brand-dedicated stores and shop-in-shops. The company was founded in 1853 and is headquartered in San Francisco, California.

Understand Levi Strauss & Co.: how it makes money

Levi Strauss designs and sells jeans, casualwear, activewear, and accessories under the Levi's, Dockers, and Denizen brands, selling through its own stores, e-commerce, and wholesale partners. Over half of revenue now flows through DTC channels, and the company holds more global jeans market share than its next two rivals combined.

The profit engine is the majority-DTC mix (52%+ of net revenue) that lets Levi's set its own pricing, avoid wholesale markdowns, and layer margin upside via productivity and merchandising on a 63% gross-margin base that currently converts to only 8% operating margin.

Business quality (Mixed): Strong brand and expanding DTC mix, but the 8% operating margin leaves little cushion against tariff-driven cost shocks and one-off operational delays, so 'Mixed' is the fair read for now.

Valuation: At 13× earnings, LEVI trades 17% below the Apparel average (16×).

Bull case

  • Category leadership is structural: Management noted on the Q4 FY25 call that Levi's holds more global jeans market share than its next two competitors combined, giving the brand pricing power and a durable moat that supports the +8% YoY revenue growth seen in the quarter ($1.6B).
  • Activewear opens a second curve: Beyond Yoga grew 45% in Q4 and is expanding into new active-lifestyle categories, giving the group a fast-growing, higher-margin complement to the core jeans business and reducing single-category concentration over time.
  • Trades 17% below apparel peers: At a P/E of 13.3x versus the 16.0x apparel industry average, the stock carries a discount despite 8% revenue growth and a 63% gross margin, leaving room for re-rating if operating margin moves toward the 8%→mid-single-digit range management is targeting.

Bear case

  • Tariffs are a 2026 cost wedge: Management flagged on the Q4 FY25 call that tariffs pressured gross margin in the quarter and remain a material 2026 cost headwind, directly threatening the 63% gross margin that funds the entire operating structure.
  • Q1 EBIT guided down 140 bps: First-quarter EBIT margin is expected to decline 140 basis points year over year, signaling that near-term margin expansion is stalled and the 8% operating margin may compress further before productivity gains materialize.
  • Logistics transition is slipping: The U.S. distribution-center transition is taking longer than expected, a multi-timezone operational risk that can delay the very DTC productivity and merchandising improvements management cited as the source of future margin upside.
Valuation — source: SEC EDGAR (first-party)
Price$21.09
Market Cap$8.22B
P/E Ratio12.9
EV / EBITDA9.2
Price / Book3.62
Price / Sales1.24
FCF Yield6.8%
DCF Value (model)$20.69
DCF Upside vs Price-1.9%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$6.28B
Net Margin9.2%
Revenue Growth (YoY)8.0%
EPS Growth (YoY)35.3%
FCF Growth (YoY)58.2%
Financial Health — source: SEC EDGAR
Altman Z-Score2.94 (grey)
Piotroski F-Score7/9 (strong)
Valuation vs Sector & Industry
Stock P/E12.9
Sector P/E (Consumer Discretionary)20.8
Industry P/E (Apparel)15.3
vs Sector-38.2%
vs Industry-15.7%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($193.31M)
Institutional Holders Tracked10
Company
SectorConsumer Discretionary
IndustryApparel
CEOMichelle D. Gass
Employees18,700
CountryUS
IPO Date2019-03-21

Related Companies (Apparel; 8 comparable apparel companies)

  • Under Armour, Inc. (UAA)
  • Columbia Sportswear Company (COLM)
  • G-III Apparel Group, Ltd. (GIII)
  • Carter's, Inc. (CRI)
  • Ralph Lauren Corporation (RL)
  • FIGS, Inc. (FIGS)
  • PVH Corp. (PVH)
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LEVI earnings history · LEVI institutional & insider holders · LEVI KPIs & operating metrics · LEVI financials · LEVI investor presentations & press releases · LEVI SEC filings · LEVI peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-25.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.