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AGING Analysis Report
Jun 7, 2026
19 days ago · 100% complete

Ralph Lauren Corporation

RL NYSE Categories PDF
Consumer Cyclical · Apparel - Manufacturers
New York City, NY 10022, United States IPO 1997 corporate.ralphlauren.com Updated Jun 7, 5:20pm
Price
$366.55
Market Cap
$22.4B
Employees
23,400
Beta
1.37
Avg Volume
652,149
CEO
Patrice Jean Louis Louvet
Business Description

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men's, women's, and children's clothing; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, lighting, tabletop, kitchen linens, floor coverings, and giftware; and fragrances. It sells apparel and accessories under the Ralph Lauren Collection, Ralph Lauren Purple Label, Polo Ralph Lauren, Double RL, Lauren Ralph Lauren, Polo Golf Ralph Lauren, Ralph Lauren Golf, RLX Ralph Lauren, Polo Ralph Lauren Children, and Chaps brands; women's fragrances under the Ralph Lauren Collection, Woman by Ralph Lauren, Romance Collection, and Ralph Collection brand names; and men's fragrances under the Polo Blue, Ralph's Club, Safari, Purple Label, Polo Red, Polo Green, Polo Black, Polo Sport, and Big Pony Men's brand names. The company's restaurant collection includes The Polo Bar in New York City; RL Restaurant in Chicago; Ralph's in Paris; The Bar at Ralph Lauren located in Milan; and Ralph's Coffee concept. It sells its products to department stores, specialty stores, and golf and pro shops, as well as directly to consumers through its retail stores, concession-based shop-within-shops, and its digital commerce sites. The company directly operates 504 retail stores and 684 concession-based shop-within-shops; and operates 175 Ralph Lauren stores, 329 factory stores, and 148 stores and shops through licensing partners. Ralph Lauren Corporation was founded in 1967 and is headquartered in New York, New York.

Business History
Generated: Jun 7, 2026 5:25pm
Price Overview
Last updated: Jun 7, 2026 5:22pm (19d ago)
$366.55
-0.17 (-0.05%)
Day Range
$360.65 – $369.39
52-Week Range
$258.13 – $393.41
50-Day MA
$358.80
200-Day MA
$344.31
Volume
592,554.00
Analyst Price Targets
Low $405.00
Consensus $435.78
High $511.00
(60 analysts)
Share Structure
Outstanding 60,999,812.00
Float 59,129,740.00
Free Float 96.9%
High free float — 96.9% of shares trade freely, ~3.1% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Last updated: Jun 7, 2026 5:29pm (19d ago)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Last updated: Jun 7, 2026 5:29pm (19d ago)
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
Industry comparison last run: Jun 7, 2026 5:24pm
P/E Ratio (Price per dollar of earnings)
API
Stock Price / EPS (Diluted)
23.76
Stock Price: $366.55
EPS (Diluted): 15.42
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
7.04
Stock Price: $366.55
Total Equity: $2.84B
Shares: 62,300,000
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
19.84
Market Cap: $22.36B
Total Debt: $1.45B
Cash: $1.99B
EBITDA: $1.18B
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$21.0B
Market Cap: $22.36B
Total Debt: $1.45B
Cash: $1.99B
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
69.9%
Gross Profit: $5.67B
Revenue: $8.11B
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
14.5%
Operating Income: $1.18B
Revenue: $8.11B
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
11.6%
Net Income: $941.10M
Revenue: $8.11B
ROE (Profit from shareholder equity)
API
Net Income / Total Equity
34.8%
Net Income: $941.10M
Total Equity: $2.84B
ROIC (Profit from all invested capital)
API
NOPAT / Invested Capital
19.6%
Operating Income: $1.18B
Tax Rate: 20.1%
Equity: $2.84B
Total Debt: $1.45B
Cash: $1.99B
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
2.10
Current Assets: $3.89B
Current Liabilities: $1.85B
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
0.51
Short-Term Debt: $211.70M
Long-Term Debt: $1.24B
Total Debt: $1.45B
Total Equity: $2.84B
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$130.25
Revenue: $8.11B
Shares: 62,300,000
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$45.59
Total Equity: $2.84B
Shares: 62,300,000
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$11.98
Operating CF: $1.15B
CapEx: -$408.10M
Shares: 62,300,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
1.1%
Last Dividend: N/A
Stock Price: $366.55
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
Dividends Paid: N/A
Net Income: $941.10M
Dividends paid not available in cash flow statement
Industry Benchmarks
Last run: Jun 7, 2026 5:24pm
Compares RL against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis
Last run: Jun 7, 2026 5:28:34 pm

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
Not applicable for Mature Earner companies
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
Not applicable for Mature Earner companies
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
Not applicable for Mature Earner companies
4h Dividend Discount Model — For dividend/income stocks only
Not applicable for Mature Earner companies
4i Book Value Analysis — For deep value / turnaround stocks only
Not applicable for Mature Earner companies
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
Not applicable for Mature Earner companies
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 7, 2026 5:29pm (19d ago)
Metric 2022 2023 2024 2025 2026
Revenue $6.2B $6.4B $6.6B $7.1B $8.1B
Cost of Revenue $2.1B $2.3B $2.2B $2.2B $2.4B
Gross Profit $4.1B $4.2B $4.4B $4.9B $5.7B
Operating Expenses $3.3B $3.5B $3.7B $3.9B $4.5B
Operating Income $798.4M $704.2M $756.4M $932.1M $1.2B
Net Income $600.1M $522.7M $646.3M $742.9M $941.1M
EBITDA $1.0B $952.8M $1.0B $1.2B $1.2B
EPS $8.22 $7.72 $9.91 $11.86 $15.42
EPS (Diluted)
Balance Sheet (Annual)
Last updated: Jun 7, 2026 5:23pm (19d ago)
Metric 2022 2023 2024 2025 2026
Cash & Equivalents $1.9B $1.5B $1.7B $1.9B $2.0B
Total Current Assets $4.2B $3.3B $3.4B $3.8B $3.9B
Total Assets $7.7B $6.8B $6.6B $7.0B $6.4B
Current Liabilities $2.3B $1.5B $1.5B $2.1B $1.8B
Long-Term Debt $1.1B $2.3B $2.2B $742.9M $1.2B
Total Liabilities $5.2B $4.4B $4.2B $4.5B $3.6B
Total Equity $2.5B $2.4B $2.5B $2.6B $2.8B
Retained Earnings $6.3B $6.6B $7.1B $7.6B $8.3B
Cash Flow (Annual)
Last updated: Jun 7, 2026 5:29pm (19d ago)
Metric 2022 2023 2024 2025 2026
Operating Cash Flow $715.9M $411.0M $1.1B $1.2B $1.2B
Capital Expenditure -$166.9M -$217.5M -$164.8M -$216.2M -$408.1M
Free Cash Flow $549.0M $193.5M $904.9M $1.0B $746.1M
Acquisitions (net) $0 $0 $0 $0 $0
Debt Repayment
Dividends Paid
Stock Buybacks -$492.6M -$488.6M -$449.7M -$480.9M -$623.8M
Net Change in Cash -$716.0M -$335.1M $133.7M $258.8M $65.3M
Analyst Estimates (Annual)
Last updated: Jun 7, 2026 5:22pm (19d ago)
Metric 2027 2028 2029 2030
Revenue $8.6B
$8.4B – $8.7B
$9.0B
$8.9B – $9.2B
$9.5B
$9.5B – $9.5B
$9.9B
$9.6B – $10.1B
EBITDA $1.4B
$1.3B – $1.4B
$1.4B
$1.4B – $1.5B
$1.5B
$1.5B – $1.5B
$1.6B
$1.5B – $1.6B
Net Income $1.1B
$1.1B – $1.2B
$1.3B
$1.2B – $1.3B
$1.3B
$1.3B – $1.5B
$1.5B
$1.4B – $1.5B
EPS
Growth Trends (YoY %)
Last updated: Jun 7, 2026 5:29pm (19d ago)
Metric 2023 2024 2025 2026
Revenue Growth +3.6% +2.9% +6.7% +14.6%
Gross Profit Growth +0.4% +6.4% +9.5% +16.8%
Operating Income Growth -11.8% +7.4% +23.2% +26.5%
Net Income Growth -12.9% +23.6% +14.9% +26.7%
EBITDA Growth -8.2% +10.1% +15.8% -3.0%
Insider Trading (Recent)
Last updated: Jun 7, 2026 5:28pm (19d ago)
Type codes PPurchase SSale AAward / grant MOption exercise FIn-kind (tax) CConversion GGift DReturn to issuer
All SEC Form 4 codes
Open market
P Purchase
Open-market or private purchase of shares.
S Sale
Open-market or private sale of shares.
Compensation (Rule 16b-3)
A Award / grant
Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
D Return to issuer
Securities disposed back to the company under Rule 16b-3.
F In-kind (tax)
Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
I Discretionary
Discretionary transaction under an employee plan — Rule 16b-3(f).
M Option exercise
Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
C Conversion
Conversion of a derivative security into the underlying shares.
E Short expiration
Expiration of a short derivative position.
H Long expiration
Expiration or cancellation of a long derivative position with value received.
O OTM exercise
Exercise of an out-of-the-money derivative.
X ITM exercise
Exercise of an in-the-money or at-the-money derivative.
Other exempt
G Gift
Bona fide gift of securities.
L Small acquisition
Small acquisition under Rule 16a-6.
W Inheritance
Acquisition or disposition by will or the laws of descent.
Z Voting trust
Deposit into or withdrawal from a voting trust.
Other
J Other
Other acquisition or disposition (explained in a Form 4 footnote).
K Equity swap
Transaction in an equity swap or similar instrument.
U Tender / buyout
Disposition via tender of shares in a change-of-control transaction.

Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.

Date Insider Type Shares Price Value
2026-06-03 Ranftl Robert P. S-Sale 6,500.00 $359.56 $2.3M
2026-06-01 Ranftl Robert P. A-Award 6,254.00 $0.00 $0
2026-06-01 Ranftl Robert P. F-InKind 2,347.00 $365.87 $858,685
2026-06-01 Ranftl Robert P. A-Award 4,650.00 $0.00 $0
2026-06-01 Ranftl Robert P. F-InKind 2,048.00 $365.87 $749,292
2026-06-01 Louvet Patrice A-Award 46,276.00 $0.00 $0
2026-06-01 Louvet Patrice F-InKind 23,215.00 $365.87 $8.5M
2026-06-01 Louvet Patrice A-Award 34,411.00 $0.00 $0
2026-06-01 Louvet Patrice F-InKind 17,567.00 $365.87 $6.4M
2026-06-01 LAUREN RALPH A-Award 95,842.00 $0.00 $0
2026-06-01 LAUREN RALPH F-InKind 52,592.00 $365.87 $19.2M
2026-06-01 LAUREN RALPH A-Award 66,796.00 $0.00 $0
2026-06-01 LAUREN RALPH F-InKind 36,939.00 $365.87 $13.5M
2026-06-01 Lauren David R. A-Award 4,168.00 $0.00 $0
2026-06-01 Lauren David R. F-InKind 1,899.00 $365.87 $694,778
2026-06-01 Lauren David R. A-Award 3,099.00 $0.00 $0
2026-06-01 Lauren David R. F-InKind 1,715.00 $365.87 $627,458
2026-06-01 Alagoz Halide A-Award 5,002.00 $0.00 $0
2026-06-01 Alagoz Halide F-InKind 2,367.00 $365.87 $866,002
2026-06-01 Alagoz Halide A-Award 3,719.00 $0.00 $0
Dividend History (Last 20)
Last updated: Jun 7, 2026 5:22pm (19d ago)
Date Dividend Declaration Record Payment
2026-06-26 $1.00 2026-05-14 2026-06-26 2026-07-10
2026-03-27 $0.91 2026-03-13 2026-03-27 2026-04-10
2025-12-26 $0.91 2025-12-12 2025-12-26 2026-01-09
2025-09-26 $0.91 2025-09-12 2025-09-26 2025-10-10
2025-06-27 $0.91 2025-05-22 2025-06-27 2025-07-11
2025-03-28 $0.83 2025-03-14 2025-03-28 2025-04-11
2024-12-27 $0.83 2024-12-13 2024-12-27 2025-01-10
2024-09-27 $0.83 2024-09-13 2024-09-27 2024-10-11
2024-06-28 $0.83 2024-05-23 2024-06-28 2024-07-12
2024-03-27 $0.75 2024-03-14 2024-03-28 2024-04-12
2023-12-28 $0.75 2023-12-15 2023-12-29 2024-01-12
2023-09-28 $0.75 2023-09-15 2023-09-29 2023-10-13
2023-06-29 $0.75 2023-06-16 2023-06-30 2023-07-14
2023-03-30 $0.75 2023-03-17 2023-03-31 2023-04-14
2022-12-29 $0.75 2022-12-16 2022-12-30 2023-01-13
2022-09-29 $0.75 2022-09-16 2022-09-30 2022-10-14
2022-06-30 $0.75 2022-05-24 2022-07-01 2022-07-15
2022-03-31 $0.69 2022-03-18 2022-04-01 2022-04-15
2021-12-22 $0.69 2021-12-10 2021-12-24 2022-01-07
2021-09-23 $0.69 2021-09-10 2021-09-24 2021-10-08
Narrative Economics
The story the market is telling about this stock — the intangible X-factor (founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for RL — it's generated by the pipeline (market-narrative step).
Delvantic AI Findings
Independent analyst synthesis · Delvantic - Cairn AI · generated 2026-06-07 17:29:17
Reviews the pipeline's own verdicts
Verdict Fully valued, not 62% overvalued — fair value $290-310 on sustained 14% op margins; wait for a consumer-cyclical pullback toward $300 before initiating, hold if owned.

Looking at the raw numbers first: RL printed $8.11B revenue FY26 vs $7.08B prior (+14.6%), with net income jumping from $743M to $941M (+27%). Gross margin expanded from 68.5% to 69.9%, operating margin from 13.2% to 14.5%. That's genuine operating leverage, not financial engineering. Quarterly cadence shows clear seasonality (Dec quarter $2.41B at 15% NM is the holiday peak) but the YoY comparisons hold up across every quarter. FCF of $746M against $941M NI is a 79% conversion — fine, not spectacular, and the momentum table flags fcf_cagr at -9.2%, which is the real wart here: earnings up 21% CAGR, FCF down. That's working capital and capex absorption, and it deserves more scrutiny than the synthesis gave it.

Now the prior models. The valuation synthesis screaming "$140 fair value vs $367" is doing a lot of heavy lifting on what I suspect is a mid-30s margin terminal assumption that ignores the rerate luxury peers (LVMH, Hermès, Brunello Cucinelli) command — 25-40x earnings is normal in that cohort. RL at 23.8x TTM PE with 21% earnings CAGR and 35% ROE is not obviously a 2.6x-overvalued stock; PEG is roughly 1.1. The synthesis verdict of -61.9% downside feels mechanically derived from a DCF that won't credit the brand's positioning. That said, the Market Forces note about "cyclical peak" and the narrative model's "moderate durability" are the right concerns: 14.5% operating margin is a high-water mark for RL historically (it was 11-12% in FY22-23), and luxury-accessible brands mean-revert hard in consumer downturns. China exposure and US aspirational-luxury demand are the swing variables.

The contrarian case the models underweight: if RL sustains 14-15% op margins and grows MSD-HSD, FY28 EPS could reach $16-18, putting the stock at 21-23x forward — not absurd for a brand executing a credible luxury repositioning. The bull narrative isn't fantasy; DTC mix shift and wholesale pruning are real margin drivers, and Asia is genuinely a multi-year runway. The contrarian case the models overweight: insider selling on 6/3 is one 6,500-share sale against a wall of equity awards on 6/1 — that's routine vesting/tax-withholding mechanics ("F-InKind" entries), not a smoke signal. The "Unusual Selling Activity" tag looks like a false positive from automated transaction tagging.

Where the data is thin: balance sheet shows cash of $1.99B but total debt and equity are blank, which means I can't independently verify the 7.04 P/B or compute net debt/EBITDA. EV/EBITDA of 19.8x is TTM-tagged (anomaly flag confirms), and against an annual EBITDA of roughly $1.4B implies EV around $28B — consistent with $22B cap + ~$1B net debt + lease liabilities. Not cheap, but not the bubble the synthesis implies. The FCF deterioration is the single number that would make me pause: $746M FCF against a $22.4B cap is a 3.3% FCF yield, and if that doesn't recover toward $900M+ in FY27, the multiple compresses fast. Where I land: the synthesis $140 fair value is too punitive — it's pricing RL as if it's still 2019 Polo with department-store dependency. The narrative model's framing is better: $367 prices in continued execution, and downside on a stumble is real (probably $260-280, not $140). I dissent from the "overvalued by 62%" call but agree the stock is priced for perfection in a consumer-cyclical context with a strong dollar headwind and China uncertainty.

Net: this is a quality compounder trading at a full but defensible multiple, with asymmetric downside if luxury-accessible spending rolls over. I wouldn't short it at $367 and I wouldn't chase it here either. A 15-20% pullback on any quarterly miss creates the entry; current price is a hold-not-buy.

GPT Critique
Second-opinion review · gpt-4o · generated 2026-06-07 17:29:21
Reviews the Opus findings above
Verdict I agree with Opus—fully valued at $366, though I slightly lean towards the lower end of their fair value range, at $290, accounting for FCF concerns and macro risks.

From my analysis of Ralph Lauren Corporation's financials, the company has shown a robust revenue growth trajectory with a 14.6% year-over-year increase, culminating in $8.11B for FY26. The net income also saw a significant uplift, reaching $941.1M, indicating a 27% rise year-over-year. These figures suggest strong operational leverage, especially with gross margins expanding from 68.5% to 69.9% and operating margins increasing from 13.2% to 14.5%. However, the decline in free cash flow (FCF) by 9.2% CAGR despite the earnings growth is a point of concern. This divergence suggests a potential strain from working capital or capex, which needs further scrutiny.

Opus argues that the stock is fully valued at $366.55, suggesting a fair value in the range of $290-310 based on sustained operational margins of 14%. I partially agree with Opus on this valuation, as the current price multiples (PE of 23.8x and EV/EBITDA of 19.8x) appear high but not excessively so compared to luxury peers. However, I diverge from Opus's assertion that the market's valuation is fully justified. The narrative-driven premium is substantial, and the stock's current valuation does price in a near-perfect execution of strategy, especially considering the challenges in the consumer cyclical sector and uncertainties in the Chinese market.

Opus mentions that the valuation synthesis's call of a $140 fair value is overly punitive, dismissing it for not accounting for the luxury brand's transformation. I agree that the synthesis appears to undervalue the brand's repositioning efforts and margin expansion. However, I align more with Opus's caution regarding the cyclical peak and potential downside if consumer spending wanes. The insider selling tagged as "Unusual Selling Activity" is, as Opus notes, likely routine and not a significant red flag, though it does warrant monitoring.

A careful skeptic might argue that both my view and Opus's are too optimistic about the potential for sustained high margins amidst macroeconomic headwinds. They could point to the FCF decline as indicative of deeper operational issues that could undermine future profitability, questioning whether the company's strategic pivot will be enough to offset broader industry challenges.

Community AI Feedback
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My Notes personal — only you see this
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30