Revenue momentum remains strong with 16.6% year-over-year growth in 2026Q4, supported by a sustained 69.7% gross margin that reflects successful premium pricing power.
| Metric | Mar'26 | Mar'25 | Mar'24 | Apr'23 | Apr'22 | Mar'21 | Mar'20 | Mar'19 | Mar'18 | Apr'17 | Apr'16 | Mar'15 | Mar'14 | Mar'13 | Mar'12 | Apr'11 | Apr'10 | Mar'09 | Mar'08 | Mar'07 | Apr'06 | Apr'05 | Apr'04 | Mar'03 | Mar'02 | Mar'01 | Apr'00 | Apr'99 | Mar'98 | Mar'97 |
|---|
| Sales/Revenue | 8.11B | 7.08B | 6.63B | 6.44B | 6.22B | 4.4B | 6.16B | 6.31B | 6.18B | 6.65B | 7.41B | 7.62B | 7.45B | 6.94B | 6.86B | 5.66B | 4.98B | 5.02B | 4.88B | 4.3B | 3.75B | 3.31B | 2.65B | 2.44B | 2.36B | 2.23B | 1.95B | 1.71B | 1.47B | 1.18B |
| Revenue Growth % | 14.63% | 6.75% | 2.91% | 3.62% | 41.3% | -28.56% | -2.43% | 2.11% | -7.07% | -10.16% | -2.82% | 2.28% | 7.27% | 1.24% | 21.19% | 13.69% | -0.8% | 2.84% | 13.61% | 14.66% | 13.34% | 24.75% | 8.62% | 3.2% | 6.2% | 14.22% | 13.75% | 16.47% | 24.61% | - |
| Cost of Goods Sold | 2.45B | 2.23B | 2.2B | 2.28B | 2.07B | 1.54B | 2.51B | 2.43B | 2.43B | 3B | 3.22B | 3.24B | 3.14B | 2.79B | 2.86B | 2.34B | 2.08B | 2.29B | 2.24B | 1.96B | 1.72B | 1.62B | 1.33B | 1.23B | 1.22B | 1.16B | 1B | 858.17M | 732.59M | 638.2M |
| COGS % of Revenue | 30.13% | 31.45% | 33.17% | 35.35% | 33.3% | 34.98% | 40.69% | 38.44% | 39.32% | 45.12% | 43.46% | 42.55% | 42.15% | 40.16% | 41.72% | 41.38% | 41.77% | 45.59% | 45.94% | 45.61% | 46.02% | 49.04% | 50.06% | 50.49% | 51.48% | 52.24% | 51.44% | 50.09% | 49.81% | 54.07% |
| Gross Profit | 5.67B | 4.85B | 4.43B | 4.17B | 4.15B | 2.86B | 3.65B | 3.89B | 3.75B | 3.65B | 4.19B | 4.38B | 4.31B | 4.16B | 4B | 3.32B | 2.9B | 2.73B | 2.64B | 2.34B | 2.02B | 1.68B | 1.32B | 1.21B | 1.15B | 1.06B | 953.14M | 868.69M | 738.35M | 542.2M |
| Gross Margin % | 69.87% | 68.55% | 66.83% | 64.65% | 66.7% | 65.02% | 59.31% | 61.56% | 60.68% | 54.88% | 56.54% | 57.45% | 57.85% | 59.84% | 58.28% | 58.62% | 58.23% | 54.41% | 54.06% | 54.39% | 53.98% | 50.96% | 49.94% | 49.51% | 48.52% | 47.76% | 48.91% | 50.71% | 50.2% | 45.93% |
| Gross Profit Growth % | 16.82% | 9.5% | 6.39% | 0.44% | 44.95% | -21.68% | -5.99% | 3.58% | 2.76% | -12.79% | -4.37% | 1.58% | 3.71% | 3.95% | 20.48% | 14.46% | 6.17% | 3.51% | 12.92% | 15.52% | 20.06% | 27.3% | 9.58% | 5.3% | 7.88% | 11.53% | 9.72% | 17.65% | 36.18% | - |
| Operating Expenses | 4.49B | 3.92B | 3.68B | 3.46B | 3.35B | 2.9B | 3.34B | 3.32B | 3.25B | 3.74B | 3.6B | 3.34B | 3.18B | 3.03B | 2.96B | 2.47B | 2.19B | 2.14B | 1.98B | 1.68B | 1.51B | 1.38B | 1.05B | 919.18M | 853.59M | 945.83M | 689.23M | 713.1M | 548.2M | 392.7M |
| OpEx % of Revenue | 55.33% | 55.39% | 55.42% | 53.72% | 53.86% | 66.01% | 54.16% | 52.66% | 52.63% | 56.27% | 48.67% | 43.86% | 42.68% | 43.62% | 43.14% | 43.69% | 44.03% | 42.54% | 40.67% | 39.2% | 40.19% | 41.89% | 39.72% | 37.68% | 36.11% | 42.49% | 35.37% | 41.63% | 37.27% | 33.27% |
| Selling, General & Admin | 4.37B | 3.86B | 3.6B | 3.41B | 3.31B | 2.65B | 3.27B | 3.2B | 3.12B | 3.2B | 3.41B | 3.3B | 3.14B | 2.97B | 2.92B | 2.44B | 2.16B | 2.04B | 1.93B | 1.66B | 1.48B | 1.38B | 1.03B | 904.74M | 837.59M | 822.27M | 689.23M | 608.13M | 520.8M | 378.9M |
| SG&A % of Revenue | 53.88% | 54.57% | 54.29% | 52.9% | 53.16% | 60.21% | 53.04% | 50.77% | 50.54% | 48.03% | 46.08% | 43.31% | 42.17% | 42.78% | 42.51% | 43.16% | 43.32% | 40.57% | 39.6% | 38.73% | 39.42% | 41.68% | 38.93% | 37.09% | 35.44% | 36.94% | 35.37% | 35.5% | 35.41% | 32.1% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 118.1M | 57.8M | 74.9M | 52.7M | 43.5M | 255.1M | 69.2M | 119.4M | 129.2M | 547.8M | 191.4M | 42.2M | 38M | 58M | 43M | 30.5M | 35.2M | 99.2M | 52.2M | 20.2M | 28.9M | 7.2M | 20.9M | 14.44M | 16M | 123.55M | 0 | 104.97M | 27.4M | 13.8M |
| Operating Income | 1.18B | 932.1M | 756.4M | 704.2M | 798.4M | -43.6M | 317M | 561.8M | 498.2M | -92.3M | 582.8M | 1.04B | 1.13B | 1.13B | 1.04B | 845.1M | 706.9M | 595.5M | 653.4M | 652.6M | 516.6M | 299.7M | 270.9M | 288.42M | 293.21M | 117.22M | 263.91M | 155.59M | 190.15M | 149.5M |
| Operating Margin % | 14.53% | 13.17% | 11.41% | 10.93% | 12.84% | -0.99% | 5.15% | 8.9% | 8.06% | -1.39% | 7.87% | 13.59% | 15.17% | 16.23% | 15.15% | 14.93% | 14.2% | 11.87% | 13.39% | 15.19% | 13.79% | 9.07% | 10.22% | 11.82% | 12.4% | 5.27% | 13.54% | 9.08% | 12.93% | 12.67% |
| Operating Income Growth % | 26.51% | 23.23% | 7.41% | -11.8% | 1931.19% | -113.75% | -43.57% | 12.77% | 639.76% | -115.84% | -43.71% | -8.37% | 0.27% | 8.47% | 22.94% | 19.55% | 18.71% | -8.86% | 0.12% | 26.33% | 72.37% | 10.63% | -6.07% | -1.64% | 150.14% | -55.58% | 69.63% | -18.18% | 27.19% | - |
| EBITDA | 1.18B | 1.15B | 985.4M | 924.7M | 1.03B | 204M | 586.5M | 843.1M | 793.4M | 215.2M | 892.8M | 1.06B | 1.17B | 1.36B | 1.07B | 870.5M | 728.6M | 779.9M | 854.7M | 797.3M | 643.6M | 403.33M | 354.09M | 367.06M | 377.13M | 195.82M | 330.19M | 201.99M | 217.55M | 163.3M |
| EBITDA Margin % | 14.51% | 16.27% | 14.86% | 14.35% | 16.53% | 4.64% | 9.52% | 13.36% | 12.83% | 3.23% | 12.06% | 13.92% | 15.64% | 19.57% | 15.57% | 15.38% | 14.63% | 15.54% | 17.51% | 18.56% | 17.18% | 12.2% | 13.36% | 15.05% | 15.96% | 8.8% | 16.94% | 11.79% | 14.79% | 13.83% |
| EBITDA Growth % | 2.26% | 16.88% | 6.56% | -10.06% | 403.97% | -65.22% | -30.44% | 6.26% | 268.68% | -75.9% | -15.81% | -8.98% | -14.29% | 27.29% | 22.68% | 19.48% | -6.58% | -8.75% | 7.2% | 23.88% | 59.57% | 13.91% | -3.53% | -2.67% | 92.59% | -40.69% | 63.47% | -7.15% | 33.22% | - |
| D&A (Non-Cash Add-back) | 0 | 219.6M | 229M | 220.5M | 229.7M | 247.6M | 269.5M | 281.3M | 295.2M | 307.5M | 310M | 25M | 35M | 232.3M | 28.9M | 25.4M | 21.7M | 184.4M | 201.3M | 144.7M | 127M | 103.63M | 83.19M | 78.64M | 83.92M | 78.6M | 66.28M | 46.4M | 27.4M | 13.8M |
| EBIT | 1.18B | 994.8M | 819.6M | 732.3M | 808.6M | -26.3M | 344M | 603.2M | 507.4M | -92.5M | 572.8M | 1B | 1.12B | 1.11B | 1.04B | 843.7M | 711.5M | 614.1M | 653.4M | 657.2M | 525.6M | 302M | 290.5M | 302.86M | 309.21M | 240.78M | 263.91M | 260.56M | 190.15M | 149.5M |
| Net Interest Income | -500K | 29.9M | 30.8M | -8.2M | -48.5M | -38.8M | 16.8M | 20.1M | -5.9M | -5.1M | -14.7M | -10.6M | -17M | -16M | -13M | -10.6M | -9.8M | -4.6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 53.7M | 74M | 73M | 32.2M | 5.5M | 9.7M | 34.4M | 40.8M | 12.3M | 7.3M | 6.3M | 6.1M | 3M | 5.7M | 11M | 7.7M | 12.4M | 22M | 0 | 26.1M | 13.7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 54.2M | 44.1M | 42.2M | 40.4M | 54M | 48.5M | 17.6M | 20.7M | 18.2M | 12.4M | 21M | 16.7M | 20M | 22M | 24M | 18.3M | 22.2M | 26.6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -1.5M | 18.6M | 21M | -12.3M | -43.8M | -31.2M | 9.4M | 20.7M | -9M | -12.6M | -31M | -48M | -34M | -38M | -24M | -19.7M | -17.6M | -8M | -11.3M | -9.3M | -13.7M | -1.9M | -7.8M | -14.03M | -17.21M | -19.27M | -15.03M | -2.76M | 9.45M | -9.4M |
| Pretax Income | 1.18B | 950.7M | 777.4M | 691.9M | 754.6M | -74.8M | 326.4M | 582.5M | 489.2M | -104.9M | 552M | 987M | 1.1B | 1.09B | 1.02B | 825.4M | 689.3M | 587.5M | 642.1M | 643.3M | 502.9M | 299.37M | 261.93M | 274.39M | 276M | 97.95M | 248.89M | 152.9M | 199.6M | 140.1M |
| Pretax Margin % | 14.51% | 13.43% | 11.72% | 10.74% | 12.13% | -1.7% | 5.3% | 9.23% | 7.91% | -1.58% | 7.45% | 12.95% | 14.71% | 15.69% | 14.8% | 14.58% | 13.84% | 11.71% | 13.16% | 14.98% | 13.42% | 9.06% | 9.89% | 11.25% | 11.68% | 4.4% | 12.77% | 8.93% | 13.57% | 11.87% |
| Income Tax | 236.6M | 207.8M | 131.1M | 169.2M | 154.5M | 46.3M | -57.9M | 151.6M | 326.4M | -5.6M | 155.4M | 285.2M | 320M | 339M | 334M | 257.8M | 209.8M | 181.5M | 222.3M | 242.4M | 194.9M | 107.4M | 93.9M | 100.15M | 103.5M | 38.69M | 101.42M | 62.28M | 52.02M | 22.8M |
| Effective Tax Rate % | 20.09% | 21.86% | 16.86% | 24.45% | 20.47% | -61.9% | -17.74% | 26.03% | 66.72% | 5.34% | 28.15% | 28.9% | 29.2% | 31.12% | 32.9% | 31.23% | 30.44% | 30.89% | 34.62% | 37.68% | 38.76% | 35.88% | 35.85% | 36.5% | 37.5% | 39.5% | 40.75% | 40.73% | 26.06% | 16.27% |
| Net Income | 941.1M | 742.9M | 646.3M | 522.7M | 600.1M | -121.1M | 384.3M | 430.9M | 162.8M | -99.3M | 396M | 702M | 776M | 750M | 681M | 567.6M | 479.5M | 406M | 419.8M | 400.9M | 308M | 190.43M | 170.95M | 174.24M | 172.5M | 59.26M | 143.5M | 90.6M | 147.6M | 117.3M |
| Net Margin % | 11.6% | 10.49% | 9.75% | 8.11% | 9.65% | -2.75% | 6.24% | 6.83% | 2.63% | -1.49% | 5.35% | 9.21% | 10.42% | 10.8% | 9.93% | 10.03% | 9.63% | 8.09% | 8.6% | 9.33% | 8.22% | 5.76% | 6.45% | 7.14% | 7.3% | 2.66% | 7.36% | 5.29% | 10.03% | 9.94% |
| Net Income Growth % | 26.68% | 14.95% | 23.65% | -12.9% | 595.54% | -131.51% | -10.81% | 164.68% | 263.95% | -125.08% | -43.59% | -9.54% | 3.47% | 10.13% | 19.98% | 18.37% | 18.1% | -3.29% | 4.71% | 30.16% | 61.74% | 11.39% | -1.88% | 1.01% | 191.08% | -58.7% | 58.39% | -38.62% | 25.83% | - |
| Net Income (Continuing) | 941.1M | 742.9M | 646.3M | 522.7M | 600.1M | -121.1M | 384.3M | 430.9M | 162.8M | -99.3M | 396M | 702M | 776M | 750M | 681M | 567.6M | 479.5M | 406M | 421.9M | 416.2M | 321.5M | 190.4M | 169.2M | 174.24M | 172.5M | 59.26M | 147.46M | 90.55M | 147.57M | 117.3M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5.5M | 4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 15.11 | 11.61 | 9.72 | 7.58 | 8.08 | -1.65 | 4.98 | 5.27 | 1.97 | -1.20 | 4.62 | 7.88 | 8.43 | 8.00 | 7.13 | 5.75 | 4.73 | 4.01 | 3.99 | 3.73 | 2.87 | 1.83 | 1.69 | 1.76 | 1.75 | 0.58 | 1.45 | 0.91 | 1.20 | 0.89 |
| EPS Growth % | 30.15% | 19.44% | 28.23% | -6.19% | 589.7% | -133.13% | -5.5% | 167.51% | 264.17% | -125.97% | -41.37% | -6.52% | 5.38% | 12.2% | 24% | 21.56% | 17.96% | 0.5% | 6.97% | 29.97% | 56.83% | 8.28% | -3.98% | 0.57% | 201.72% | -60% | 59.34% | -24.17% | 34.83% | - |
| EPS (Basic) | 15.42 | 11.86 | 9.91 | 7.72 | 8.22 | -1.65 | 5.07 | 5.35 | 1.99 | -1.20 | 4.65 | 7.96 | 8.60 | 8.21 | 7.35 | 5.91 | 4.85 | 4.09 | 4.10 | 3.84 | 2.96 | 1.88 | 1.73 | 1.77 | 1.77 | 0.59 | 1.45 | 0.91 | 1.20 | 0.89 |
| Diluted Shares Outstanding | 62.3M | 64M | 66.5M | 69M | 74.3M | 73.5M | 77.2M | 81.7M | 82.5M | 82.7M | 85.9M | 89.1M | 92M | 93.7M | 95.5M | 98.7M | 101.3M | 101.3M | 105.2M | 107.6M | 107.2M | 104.1M | 101M | 99.26M | 98.52M | 97.45M | 99.04M | 99.97M | 100.22M | 100.27M |
| Basic Shares Outstanding | 61M | 62.6M | 65.2M | 67.7M | 73M | 73.5M | 75.8M | 80.6M | 81.7M | 82.7M | 85.2M | 88.2M | 90.1M | 91.3M | 92.7M | 96M | 98.9M | 99.2M | 102.3M | 104.4M | 104.2M | 101.5M | 99M | 98.33M | 97.47M | 96.77M | 98.93M | 99.81M | 100.22M | 100.27M |
| Dividend Payout Ratio | 23% | 27.07% | 30.11% | 37.94% | 25% | - | 53.06% | 44.26% | 99.75% | - | 42.93% | 22.51% | 19.2% | 17.04% | 10.91% | 6.78% | 5.15% | 4.9% | 4.88% | 5.21% | 6.75% | 11.4% | 8.66% | - | - | - | - | - | 32.83% | 76.98% |
Brand Elevation Execution Risk
According to recent financial disclosures, Ralph Lauren achieved a 16.6% year-over-year revenue growth in 2026Q4, signaling that the company's strategic pivot toward brand elevation and direct-to-consumer channels is successfully capturing market share despite broader macroeconomic headwinds impacting the consumer cyclical sector's overall performance.
The acceleration in top-line growth suggests that the company's focus on Average Unit Retail (AUR) expansion is resonating with its target demographic. Investors should monitor whether this growth trajectory remains sustainable as the company laps these higher revenue bases in upcoming fiscal periods.
As reported in quarterly filings, Ralph Lauren maintained a robust gross margin of 69.7% in 2026Q4, which underscores the company's significant pricing power and successful reduction in promotional activity compared to peers like PVH Corp and V.F. Corporation, which operate at substantially lower margin profiles.
The ability to sustain gross margins near the 70% threshold indicates that the brand's luxury halo effectively supports premium pricing across its product tiers. This structural advantage appears to insulate the company from the commodity cost volatility that typically plagues apparel manufacturers.
Based on the provided income statement data, operating margins fluctuated significantly from 7.9% in 2026Q4 to 20.9% in 2026Q3, reflecting the inherent seasonality of the business and the high fixed-cost nature of the company's global flagship real estate and marketing infrastructure.
While the company demonstrates an ability to scale operating income during peak holiday quarters, the volatility in operating margins suggests that SG&A expenses remain relatively rigid. Analysts should evaluate whether management can achieve greater efficiency in non-peak quarters to smooth out these profitability swings.
Data from recent income statements indicates that SG&A expenses have been managed with relative discipline, hovering around $1.1B to $1.2B per quarter, which has allowed the company to translate revenue growth into improved bottom-line performance as the brand elevation strategy continues to gain traction.
The company's cost structure appears heavily weighted toward marketing and real estate, which are essential for maintaining brand desirability. The lack of R&D spending is typical for the industry, shifting the focus of expense management entirely toward optimizing the retail footprint and marketing spend.
While current figures appear strong, a critical challenge to the narrative is whether the brand elevation strategy risks alienating the core consumer base, as evidenced by the potential for margin compression if promotional activity must be reintroduced to clear inventory during periods of softening consumer demand.
Short-term investors should remain cautious regarding the reliance on high-margin luxury tiers to drive overall profitability. If the macroeconomic environment deteriorates, the company may face a difficult choice between protecting its premium brand image and maintaining volume through discounting.
Quick answers to the most common questions about buying RL stock.
For fiscal year 2026, Ralph Lauren Corporation (RL) reported total revenue of $8.11B. This represents a 587.4% increase compared to $1.18B in 1997.
Ralph Lauren Corporation (RL) is profitable, generating $941.1M in net income for the fiscal year ending 2026 with a net profit margin of 11.6%.
Ralph Lauren Corporation (RL) reported an operating income of $1.18B, resulting in an operating profit margin of 14.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Ralph Lauren Corporation (RL) generated $5.67B in gross profit for the year, representing a gross profit margin of 69.9%. This demonstrates the company's core pricing power and production efficiency.