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Ralph Lauren (RL) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Nov 5, 2026 · Ralph Lauren (RL) Q2 FY27 earnings results →

Q2 FY27 Revenue up 9% year over year to $2.2B · 14¢ of every $1 of revenue kept as net profit · operating margin 16.6%

Ralph Lauren made $2.2B in Q2 FY27 (+9% Y/Y): North America segment $886M, Europe segment $696M, Asia segment $571M. Operating margin 16.6%, net earnings $297M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.

Revenue$2.2B
Year over year+9%
Operating margin16.6%
Net earnings$297M
Operating cash flow$279M

Drawing the Sankey…

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Ralph Lauren Q2 FY27 revenue breakdown: Sankey diagram of revenue (North America segment, Europe segment, Asia segment, Other Non-Reportable Segment-Related), costs, profit and cash flow
Ralph Lauren Q2 FY27 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $2.2B in Q2 FY27, up 9% year over year and up 12% from the previous quarter. North America segment was the largest line at 40% of revenue. Asia segment added $0.13B year over year (up 28%), 69% of the total change. Other Non-Reportable Segment-Related declined 9%.

Gross margin was 74.2%, up 6.3 points from Q2 FY26. Operating profit was $0.36B, a 16.6% margin (up 4.4 points year over year). Of the extra revenue versus Q2 FY26, 65% reached operating profit, above the 12% margin then. Operating expenses grew 13% against revenue growth of 9%. The fastest-growing cost line was Other operating costs (+69%). Net earnings were $0.30B, up 43% year over year. The effective tax rate was 19.7%.

Operating cash flow was $0.28B (up 424% year over year), 94% of net earnings. Non-cash charges added back $0.06B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items used $0.12B. Capital expenditures of $0.06B left free cash flow of $0.22B.

Quarterly history

Ralph Lauren revenue by quarterRalph Lauren revenue by quarter$1.7BQ4 FY25$1.7BQ1 FY26$2.0BQ2 FY26$2.4BQ3 FY26$2.0BQ4 FY26$2.0BQ1 FY27$2.2BQ2 FY27
Ralph Lauren net earnings by quarterRalph Lauren net earnings by quarter$129MQ4 FY25$220MQ1 FY26$208MQ2 FY26$362MQ3 FY26$152MQ4 FY26$262MQ1 FY27$297MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QNov 5, 2026$2.2B+9%16.6%$297M$279M
Q1 FY2710-QAug 6, 2026$2.0B+14%17.5%$262M$339M
Q4 FY2610-KMay 21, 2026$2.0B+17%9.5%$152M$145M
Q3 FY2610-QFeb 5, 2026$2.4B+12%19.6%$362M$780M
Q2 FY2610-QNov 6, 2025$2.0B+16%12.2%$208M$53.2M
Q1 FY2610-QAug 7, 2025$1.7B+14%15.9%$220M$176M
Q4 FY2510-KMay 22, 2025$1.7B+8%9.1%$129M$122M

Charts

Ralph Lauren: revenue growth, year over year and quarter over quarterRalph Lauren: revenue growth, year over year and quarter over quarterY/YQ/Q+8%Q4 FY25+14%+1%Q1 FY26+16%+17%Q2 FY26+12%+20%Q3 FY26+17%-18%Q4 FY26+14%-1%Q1 FY27+9%+12%Q2 FY27
Latest (Q2 FY27): Y/Y +9%, Q/Q +12%.
Ralph Lauren: where the cash came from (+) and went (−), TTM to Q2 FY27Ralph Lauren: where the cash came from (+) and went (−), TTM to Q2 FY27Operating cash flow$1.5BBuybacks−$814MOther investing−$479MDividends−$225MNet borrowing (+) / repaid (−)−$23.8MExchange rates−$16.9MCash drawn (+) / kept (−)$16.4MOther financing−$400K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Ralph Lauren: profit against cash, quarter by quarterRalph Lauren: profit against cash, quarter by quarterNet incomeOperating cash flow$297M$738MQ3 FY25$129M$122MQ4 FY25$220M$176MQ1 FY26$208M$53.2MQ2 FY26$362M$780MQ3 FY26$152M$145MQ4 FY26$262M$339MQ1 FY27$297M$279MQ2 FY27
Latest (Q2 FY27): Net income $297M, Operating cash flow $279M.
Ralph Lauren: diluted shares by fiscal yearRalph Lauren: diluted shares by fiscal year74MFY2174MFY2269MFY2366MFY2464MFY2562MFY26
-15.2% since FY21: buybacks shrank the count.
Ralph Lauren in its industry: growth against margin (7 companies, SIC 2320)Ralph Lauren in its industry: growth against margin (7 companies, SIC 2320)revenue growth, year over year →↑ operating marginmedian +3%median 14%CTASVFCPVHKTBOXMLSEBRL (+9%, 17%)
Men's & Boys' Furnishgs, Work Clothg, & Allied Garments; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Ralph Lauren

Founded in 1967 by Mr. Ralph Lauren, we are a global leader in the design, marketing, and distribution of luxury lifestyle products, including apparel, handbags, footwear & accessories, fragrances, home, and hospitality. For nearly 60 years, Ralph Lauren has sought to inspire the dream of a better life through authenticity and timeless style. Our long-standing reputation and distinctive image have been developed across a wide range of products, brands, distribution channels, and international markets. We believe that our global reach, breadth of lifestyle product offerings, and multi-channel distribution network are unique among luxury and apparel companies.

In its own words, from its 10-K, filed May 21, 2026.

Ralph Lauren against its Men's & Boys' Furnishgs, Work Clothg, & Allied Garments peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +9% against the peers' median +3%. Operating margin: 16.6% against the peers' median 13.7%.

CompanyQuarterRevenueY/YOp. margin
RL Ralph LaurenQ2 FY27$2.2B+9%16.6%
CTAS CintasQ1 FY27$3.0B+11%23.6%
VFC V FQ2 FY27$2.7B-4%13.7%
PVH PVHQ2 FY27$2.1B-3%-9.1%
KTB Kontoor BrandsQ3 2026$685M+3%11.2%
OXM Oxford IndustriesQ2 FY27$394M-2%17.4%
LSEB Lseb CreativeQ1 FY27$5K+269%-404.4%

Source: Ralph Lauren 10-Q on SEC EDGAR · CIK 1037038 · Men's & Boys' Furnishgs, Work Clothg, & Allied Garments

Guidance and outlook

Ralph Lauren Tax rate: guidance against what was reportedRalph Lauren Tax rate: guidance against what was reportedguided rangereported (above / within / below)Q2 FY2614.5%Q3 FY2622.0%FY2620.1%Q4 FY2621.5%FY27Q1 FY2723.4%Q2 FY2719.7%Q3 FY27
Met or beat 7 of 9 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Ralph Lauren: what its forward-looking statements are about (10-Q filed 2026-11-05)Ralph Lauren: what its forward-looking statements are about (10-Q filed 2026-11-05)Other6The economy4Legal & regulation2Demand2People2Margins1Costs1Financing1Supply chain1Buybacks & dividends1
21 statements; tone +0.19 (−1 all cautious, +1 all confident); 5 hedged.
Ralph Lauren: outlook statements against the filing beforeRalph Lauren: outlook statements against the filing beforeConfident7Cautious3

13F: who owns RL and who is buying

Largest holders of RL (13F)Largest holders of RL (13F)Vanguard Group$1.7BBlackRock$1.2BVanguard Capital Management LLC$975MVanguard Portfolio Management LLC$778MFMR LLC$750MState Street$593MGeode Capital Management, LLC$473MInvesco$453MTwo Sigma Investments, LP$421MFirst Trust Advisors LP$409M
Funds' net buying of RL by quarter (13F)Funds' net buying of RL by quarter (13F)$34.1M2024-09$846K2024-12−$214M2025-03−$208M2025-06−$240M2025-09$585M2025-12−$111M2026-03$15.2M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on RL

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

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中文版：Ralph Lauren（RL）财报

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