Levi Strauss forward adjusted EPS valuation

Sources

1. October 8 Model Edge reference LEVI price $19.05, refreshed 2026-10-08T15:00:48.37819-06:00. Market-relative outputs use this quote; intrinsic assumptions only change on evidence. (accessed 2026-10-08)
2. October 7 Q3 call explains net tariff refunds/reinvestment, DTC issues and distribution savings delayed to 2027 without quantified FY2027 EPS guidance. — modeledge.ai (accessed 2026-10-08)
3. October 7 Model Edge reference LEVI quote $19.51, refreshed 2026-10-07T15:03:00.554351-06:00. Market-relative outputs use this price; valuation changes are separately explained. (accessed 2026-10-07)
4. October 7: FY2026 adjusted diluted EPS guidance raised to $1.54–$1.56; use midpoint $1.55 versus $1.49, retain 16x base P/E. Preserve prior analyst scenario deviations (-$0.09/+0.11), giving $1.46/$1.66 bear/bull EPS at unchanged 13x/19x; these are analyst cases, not issuer guidance. Update the diagnostic diluted-share count from 389.6M to Q3 weighted-average 390.620582M; this does not separately change EPS-based per-share value. Q3 revenue $1,609.7M (+4.3% reported/+4.5% organic), DTC +2.3%, comp +0.4%, US DTC -1% and adjusted EPS $0.48. EPS includes about $0.16 tariff-refund benefit less $0.05 reinvestment: do not treat all the beat as recurring. Full-year guidance includes $60M redeployment; preserve the existing guided-adjusted-EPS method and flag normalized post-refund earnings. 10-Q confirms $78.6M tariff recovery, $57.1M received, $4.7M related interest; do not add the refund again as free cash. Completed $200M ASR retired 9.4M total shares; prospective $100M ASR is not completed dilution reduction. Base fair value $23.84 to $24.80; price $19.51 (-4.97%). The release is after the regular session, so it is not asserted to explain the full session's price decline. — sec.gov (accessed 2026-10-07)
5. Additional supporting source for October 7 review; see the dated evidence note. — modeledge.ai (accessed 2026-10-07)
6. September 30 Modeledge reference LEVI price $19.7, refreshed 2026-09-30T15:27:34.975637-06:00. This quote refresh changes market-relative outputs; any intrinsic effects are separately explained. For USAU only, the existing financing-price formula mechanically links valuation to price. (accessed 2026-09-30)
7. September 30 8-K appoints John Vandemore CFO from November 1. Terms include $1.35M salary, 110% target bonus, annual equity target $4.25M from 2027, $4M sign-on cash paid in two installments and $5.5M each of RSUs/SARs with service/price conditions. Do not expense all grant values as immediate cash or equate dollar awards to issued shares. No revised earnings outlook: retain $1.49 EPS, 16x and $23.84 intrinsic value. — modeledge.ai (accessed 2026-09-30)
8. Levi Strauss raised FY2026 adjusted diluted EPS guidance to $1.46-$1.52 and guided reported revenue growth to 7.0%-7.5%. — sec.gov (accessed 2026-07-18)
9. Q2 FY2026 diluted weighted-average shares were approximately 389.6 million. — sec.gov (accessed 2026-07-18)