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Levi Strauss (LEVI) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Oct 7, 2026 · Levi Strauss (LEVI) Q3 FY26 earnings results →

Q3 FY26 Revenue up 4% year over year to $1.6B · 10¢ of every $1 of revenue kept as net profit · operating margin 13.8%

Levi Strauss made $1.6B in Q3 FY26 (+4% Y/Y): Americas $839M, Europe $442M, Asia $293M. Operating margin 13.8%, net earnings $169M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 7, 2026.

Revenue$1.6B
Year over year+4%
Operating margin13.8%
Net earnings$169M
Operating cash flow$103M

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Levi Strauss Q3 FY26 revenue breakdown: Sankey diagram of revenue (Americas, Europe, Asia, Beyond Yoga®), costs, profit and cash flow
Levi Strauss Q3 FY26 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $1.6B in Q3 FY26, up 4% year over year and up 3% from the previous quarter. Americas was the largest line at 52% of revenue. Americas added $0.03B year over year (up 4%), 49% of the total change.

Gross margin was 66.2%, up 4.6 points from Q3 FY25. Operating profit was $0.22B, a 13.8% margin (up 3.0 points year over year). Of the extra revenue versus Q3 FY25, 83% reached operating profit, above the 11% margin then. Operating expenses grew 8% against revenue growth of 4%. Net earnings were $0.17B, down 23% year over year. The effective tax rate was 23.4%.

Operating cash flow was $0.10B (up 315% year over year), 61% of net earnings. Non-cash charges added back $0.05B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.14B. After purchases of property, plant and equipment ($0.06B), adjusted free cash flow as the company reports it was $0.04B.

Quarterly history

Levi Strauss revenue by quarterLevi Strauss revenue by quarter$1.8BQ4 FY24$1.4BQ2 FY25$1.5BQ3 FY25$1.8BQ4 FY25$1.7BQ1 FY26$1.6BQ2 FY26$1.6BQ3 FY26
Levi Strauss net earnings by quarterLevi Strauss net earnings by quarter$183MQ4 FY24$67.0MQ2 FY25$218MQ3 FY25$158MQ4 FY25$176MQ1 FY26$87.3MQ2 FY26$169MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QOct 7, 2026$1.6B+4%13.8%$169M$103M
Q2 FY2610-QJul 8, 2026$1.6B+8%7.8%$87.3M$271M
Q1 FY2610-QApr 7, 2026$1.7B+14%11.4%$176M$212M
Q4 FY2510-KJan 28, 2026$1.8B+0.9%11.9%$158M$267M
Q3 FY2510-QOct 9, 2025$1.5B+7%10.8%$218M$24.8M
Q2 FY2510-QJul 10, 2025$1.4B+6%7.5%$67.0M$186M
Q4 FY2410-KJan 29, 2025$1.8B+12%11.3%$183M$297M

Charts

Levi Strauss: revenue growth, year over year and quarter over quarterLevi Strauss: revenue growth, year over year and quarter over quarterY/YQ/Q+12%Q4 FY24+6%-21%Q2 FY25+7%+7%Q3 FY25+1%+14%Q4 FY25+14%-1%Q1 FY26+8%-10%Q2 FY26+4%+3%Q3 FY26
Latest (Q3 FY26): Y/Y +4%, Q/Q +3%.
Levi Strauss: where the cash came from (+) and went (−), TTM to Q3 FY26Levi Strauss: where the cash came from (+) and went (−), TTM to Q3 FY26Operating cash flow$852MOther investing−$241MDividends−$224MCapital spending−$209MOther financing−$208MAsset & business sales$96.3MTaxes on employees’ shares−$35.3MCash drawn (+) / kept (−)−$28.6MNet borrowing (+) / repaid (−)−$1.3MExchange rates−$1.1M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Levi Strauss: profit against cash, quarter by quarterLevi Strauss: profit against cash, quarter by quarterNet incomeOperating cash flow$183M$297MQ4 FY24$135M$52.5MQ1 FY25$67.0M$186MQ2 FY25$218M$24.8MQ3 FY25$158M$267MQ4 FY25$176M$212MQ1 FY26$87.3M$271MQ2 FY26$169M$103MQ3 FY26
Latest (Q3 FY26): Net income $169M, Operating cash flow $103M.
Levi Strauss: diluted shares by fiscal yearLevi Strauss: diluted shares by fiscal year397MFY20410MFY21404MFY22402MFY23402MFY24400MFY25
+0.6% since FY20: more shares outstanding (issuance, stock pay).
Levi Strauss: long-term debt falling due (FY25)Levi Strauss: long-term debt falling due (FY25)$551M2030$500MLater
Cash $758M, short-term investments $90.9M, long-term debt $1.0B at 2025-11-30.
Levi Strauss in its industry: growth against margin (10 companies, SIC 2300)Levi Strauss in its industry: growth against margin (10 companies, SIC 2300)revenue growth, year over year →↑ operating marginmedian +2%median 7%LULUUAACOLMCRIGIIIFIGSSGCJRSHPMNTLEVI (+4%, 14%)
Apparel & Other Finishd Prods of Fabrics & Similar Matl; dot size is quarterly revenue; dashed lines are the industry's medians.

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About Levi Strauss

Levi Strauss & Co. (LS&Co.) is one of the world's largest brand-name apparel companies and a global leader in jeanswear. The company designs and markets jeans, casual wear and related accessories for men, women and children under the Levi's®, Levi Strauss Signature™, and Beyond Yoga® brands. Its products are sold in approximately 120 countries worldwide through a combination of chain retailers, department stores, online sites, and a global footprint of approximately 3,300 retail stores and shop-in-shops. Levi Strauss & Co.'s reported 2025 net revenues were $6.3 billion. For more information, go to http://levistrauss.com , and for financial news and announcements go to http://investors.levistrauss.com .

In its own words, from its 8-K, filed Oct 7, 2026.

Levi Strauss against its Apparel & Other Finishd Prods of Fabrics & Similar Matl peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +4% against the peers' median +2%. Operating margin: 13.8% against the peers' median 7.4%.

CompanyQuarterRevenueY/YOp. margin
LEVI Levi StraussQ3 FY26$1.6B+4%13.8%
LULU lululemon athleticaQ2 FY27$2.4B-4%18.8%
UAA Under ArmourQ2 FY27$1.2B-7%1.2%
COLM Columbia SportswearQ3 2026$963M+2%11.4%
CRI Carter'sQ3 2026$752M-0.7%7.4%
GIII G III Apparel GroupQ2 FY27$554M-10%2.0%
FIGS FigsQ3 2026$191M+26%11.6%
SGC Superior Group of CompaniesQ2 2026$148M+3%0.8%
JRSH Jerash Holdings (US)Q1 FY27$50.2M+27%5.2%

Source: Levi Strauss 10-Q on SEC EDGAR · CIK 94845 · Apparel & Other Finishd Prods of Fabrics & Similar Matl

13F: who owns LEVI and who is buying

Largest holders of LEVI (13F)Largest holders of LEVI (13F)Vanguard Group$193MBank of New York Mellon$120MVanguard Capital Management LLC$102MVanguard Portfolio Management LLC$98.8MTwo Sigma Investments, LP$80.2MBlackRock$69.6MCitadel Advisors LLC$58.3MWellington Management Group LLP$55.1MMorgan Stanley$52.8MDimensional Fund Advisors LP$48.6M
Funds' net buying of LEVI by quarter (13F)Funds' net buying of LEVI by quarter (13F)$86.6M2024-09−$8.7M2024-12$34.5M2025-03$63.6M2025-06−$91.2M2025-09−$27.4M2025-12−$77.7M2026-03$40.1M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on LEVI

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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