Abercrombie & Fitch Co. /DE/ (ANF) intrinsic value & 10-year financials
Abercrombie & Fitch Co. /DE/ (ANF) has a Graham intrinsic value of $347.44 per share. At $153.26 on Oct 17, 2026, the stock trades 56% below that value. Over the last 10 fiscal years revenue grew 5.2% a year to $5.3B, with an average return on invested capital of 16.3%.
- Graham intrinsic value
- $347.44
- Share price (Oct 17, 2026)
- $153.26
- Price vs Graham value
- 56% below
- Market cap
- $7.4B
- Revenue (FY2026)
- $5.3B
- Revenue growth (10-yr CAGR)
- 5.2%
- ROIC (10-yr avg)
- 16.3%
- Free cash flow (FY2026)
- $378.4M
ANF 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $5.3B | $506.9M | $10.46 | $378.4M | 13.3% | 34.6% |
| FY2025 | $4.9B | $566.2M | $10.69 | $527.5M | 15.0% | 47.8% |
| FY2024 | $4.3B | $328.1M | $6.22 | $495.6M | 11.3% | 30.4% |
| FY2023 | $3.7B | $2.8M | $0.05 | -$166.9M | 2.5% | 4.2% |
| FY2022 | $3.7B | $263.0M | $4.20 | $180.8M | 9.2% | 28.0% |
| FY2021 | $3.1B | -$114.0M | -$1.82 | $303.0M | -0.7% | -1.4% |
| FY2020 | $3.6B | $39.4M | $0.60 | $97.9M | 1.9% | 3.7% |
| FY2019 | $3.6B | $74.5M | $1.08 | $200.5M | 3.5% | 10.9% |
| FY2018 | $3.5B | $7.1M | $0.10 | $178.7M | 2.1% | 4.1% |
| FY2017 | $3.3B | $4.0M | $0.06 | $43.7M | 0.5% | 0.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
ABERCROMBIE & FITCH CO /DE/ has demonstrated mature, steady growth, with revenue compounding at 5.2% annually over the past decade.
ABERCROMBIE & FITCH CO /DE/ has earned high returns on invested capital, averaging 16.3% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Over the decade, ABERCROMBIE & FITCH CO /DE/ shows that management has aggressively returned capital to shareholders by retiring 29.0% of outstanding shares, and that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, ABERCROMBIE & FITCH CO /DE/ is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $347.44 per share.