Abercrombie & Fitch FY2026 forward P/E valuation

Abercrombie & Fitch Co (ANF)
By@hypertonx
Assumptions as of 2026-08-26
USD
Updated Sep 10, 2026 · Revised 4 times
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Abercrombie & Fitch FY2026 forward P/E valuation

Forward P/E valuation for Abercrombie & Fitch using management's updated fiscal 2026 sales, operating-margin, tax-rate, diluted-share, and EPS outlook after second-quarter results. The base case uses management's approximately 5% sales growth outlook, the midpoint of the 14.5%-15.0% operating-margin range, and an 11.0x target P/E within the monitored 10x-12x peer range. The multiple is held below the prior 11.5x because the outlook now includes a material IEEPA tariff refund benefit and Hollister comparable sales were still negative, even though overall guidance moved meaningfully higher.

as of 2026-08-26

Fair value
$144.77
Upside / downside
1.5%
Modeled FY2026 EPS
$13.16
Modeled FY2026 net income
$579.1
Implied equity value
$6.4k
Current P/E on modeled EPS
10.8
Modeled FY2026 revenue
$5.5k
Modeled FY2026 operating income
$815.6

Capital structure

44.0M

Market

$142.60$/share
Latest ANF quote · updated Oct 9, 2026 1:59 PM MDT

Operating assumptions

14.8%
5.0%
29.0%

Valuation

11.0

Sources

  1. September 10 Modeledge reference share price $142.93; market price alone is not used to revise operating forecasts. (accessed 2026-09-10)
  2. September 10 sector/news search did not establish a company-specific cause for the 6.02% decline. AEO's results are sector context, not a confirmed causal attribution. No price-based change to the existing ANF earnings/multiple assumptions. (accessed 2026-09-10)
  3. Second-quarter fiscal 2026 net sales were $1.267 billion, up 5%, comparable sales were flat, operating margin was 19.9%, diluted EPS was $4.17, and operating income included about $100 million of IEEPA tariff refunds. — abercrombieandfitchcompany.gcs-web.com (accessed 2026-08-26)
  4. Second-quarter sales grew 5% in Americas, 2% in EMEA, and 19% in APAC; Abercrombie brand sales grew 8% with 4% comparable sales, while Hollister sales grew 2% with comparable sales down 3%. — abercrombieandfitchcompany.gcs-web.com (accessed 2026-08-26)
  5. Management updated fiscal 2026 guidance to about 5% net sales growth, 14.5%-15.0% operating margin, about 29% effective tax rate, $13.10-$13.60 diluted EPS, at least $500 million of repurchases, and about 44 million diluted weighted-average shares. — abercrombieandfitchcompany.gcs-web.com (accessed 2026-08-26)
  6. At August 1, 2026, cash and equivalents were $628 million, marketable securities were $10 million, inventories were $592 million, and year-to-date share repurchases were $282 million with $568 million remaining on the authorization. — abercrombieandfitchcompany.gcs-web.com (accessed 2026-08-26)
  7. Fiscal 2025 net sales were $5.266 billion. — sec.gov (accessed 2026-08-26)
  8. ANF traded near $143.59 per share during the August 26, 2026 post-earnings session. — nyse.com (accessed 2026-08-26)

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