One-glance verdict
Undervalued
$59.09 our estimate vs market $31.53
Wall Street consensus: $34.00 (-42.5% lower than our fair-value estimate)
47% below our estimate, below the bear case
Fundamentals snapshot
Oxford Industries, Inc.
OXM · NYQ · Consumer Cyclical · Apparel Manufacturing
Current price
$31.53
52-week range
$28.20 - $50.94
Market cap
$472.26M
Balance sheet
Stretched
4.32x Stretched
Net debt $515.07M. Interest coverage shows how many times profit covers the interest bill.
What stands out
2 Rewards
3 Risks
2 rewards · 3 risks
- Reward Free cash flow was positive in 10/10 years.
- Reward Dividend yield is 8.9% with 40-year payout history.
- Risk Net debt grew 37.2% over 3 years.
- Risk Operating margin compressed from 15.5% to 6.5% over 3 years.
What this company does
Oxford Industries, Inc.
Oxford Industries owns a family of well-known clothing brands, including the vacation-themed Tommy Bahama and the vibrant Lilly Pulitzer. The company makes its money selling upscale apparel and accessories from these brands through its own stores, other retailers, and online. Because Oxford focuses on premium, non-essential items, its success often depends on customers feeling confident enough to spend on lifestyle and resort wear.
How the company got here
Founded in 1942 as a manufacturer of military uniforms, Oxford Industries has transformed itself over the decades. Originally focused on producing private label apparel (clothing made for other brands) for large retailers, the company made a major shift in strategy. Starting in the early 2000s, it began acquiring distinctive lifestyle brands, which are brands that aim to embody a particular interest or way of life for their customers. Key acquisitions like Tommy Bahama in 2003 and Lilly Pulitzer in 2010 reshaped the company into a portfolio of high-end, consumer-focused brands.
What it actually does
Oxford Industries is a collection of well-known apparel and lifestyle brands that you might see at the mall or in a resort town. The company designs, sources, and sells clothing, swimwear, accessories, and even home furnishings under its various brand names. It sells these products directly to shoppers through its own retail stores and websites, which accounts for the majority of its business. It also sells products through wholesale channels (selling in bulk to other retailers like department stores and specialty shops).
Tommy Bahama
This is Oxford's largest and most well-known brand, making up more than half of the company's sales. It sells men's and women's clothing with a relaxed, island-resort theme, targeting affluent customers generally over the age of 35. Beyond just clothing, Tommy Bahama extends its brand to footwear, home furnishings, and accessories. Uniquely, this segment also includes restaurants and bars, often located next to its retail stores, to create a complete lifestyle experience for customers.
Lilly Pulitzer
Known for its bright, colorful, and preppy prints, this brand is a significant part of Oxford's business, especially in women's apparel. It offers upscale dresses, sportswear, and accessories for women and girls, inspired by a Palm Beach resort lifestyle. Lilly Pulitzer has a very loyal, multi-generational following and sells its products through its own stores, website, and select high-end retailers. The brand also licenses its name for other products like stationery and home goods.
Johnny Was
Acquired in 2022, this brand offers women's clothing with a modern bohemian and vintage-inspired style, often featuring detailed embroidery. It targets the affordable luxury market, with products including apparel, accessories, and home goods. Johnny Was sells through its own stores and website, as well as through wholesale partners like Neiman Marcus and Saks Fifth Avenue. This acquisition helped Oxford diversify its fashion styles, price points, and customer base.
Emerging Brands
This segment is a collection of smaller, distinct lifestyle brands that Oxford is growing. It includes Southern Tide, known for its coastal-inspired casual wear, and The Beaufort Bonnet Company, which sells upscale children's clothing. Other brands in this group are Duck Head and Jack Rogers, which have their own unique heritage and style. This group allows Oxford to reach different niche markets and develop the next generation of larger brands.
What management is betting on now
The company's main focus is on selling directly to consumers through its own stores and websites, which gives it more control over brand image and pricing. Management is investing in technology, data analytics (the process of examining data sets to draw conclusions about the information they contain), and its supply chain (the network between a company and its suppliers to produce and distribute a specific product) to support this growth. They are also focused on expanding their newer brands, like Johnny Was, and enhancing the unique retail experiences offered by brands like Tommy Bahama with its restaurants. A key challenge is managing issues at Lilly Pulitzer, where they are working to reset the product assortment and pricing to better appeal to customers.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2025 Q4
$-56.93M
FY2026 Q1
$48.52M
FY2026 Q2
$-27.37M
FY2026 Q3
$52.31M
FY2026 Q4
$-47.92M
FY2027 Q2
$-14.87M
FY2027 Q3
$80.63M
Revenue
$394.38M
Net income
$48.97M
Diluted EPS
3.25
Operating cash flow
$89.40M
Free cash flow
$80.63M
Fetching…
Sources
Revenue
$391.40M
Net income
$14.99M
Diluted EPS
1.00
Operating cash flow
$7.90M
Free cash flow
$-14.87M
Fetching…
Sources
Revenue
$307.34M
Net income
$-63.68M
Diluted EPS
-4.28
Operating cash flow
$-9.09M
Free cash flow
$-47.92M
Fetching…
Sources
Revenue
$403.14M
Net income
$16.69M
Diluted EPS
1.12
Operating cash flow
$83.49M
Free cash flow
$52.31M
Fetching…
Sources
Revenue
$392.86M
Net income
$26.18M
Diluted EPS
1.70
Operating cash flow
$-3.94M
Free cash flow
$-27.37M
Fetching…
Sources
Revenue
$390.51M
Net income
$17.89M
Diluted EPS
1.13
Operating cash flow
$90.51M
Free cash flow
$48.52M
Fetching…
Sources
Revenue
$308.02M
Net income
$-3.94M
Diluted EPS
-0.25
Operating cash flow
$-18.21M
Free cash flow
$-56.93M
Fetching…
Sources
Is it cheap or expensive?
Fair value $59.09 vs current price $31.53
Wall Street consensus is the average analyst price target: $34.00 (-42.5% lower than our fair-value estimate).
Our most-likely fair value is $59.09 a share — about 87.4% above today's price of $31.53, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Stretched
Net debt $515.1M. Interest coverage 4.3x.
Net debt
$515.07M
Interest coverage
4.32x
Oxford Industries, Inc.'s profit covers its interest bill about 4.3 times over. which is stronger than most peers shown here.
Stretched
Worse cushion
Baseline
Better cushion
OXM
BASELINE
Oxford Industries, Inc.
Total debt $524.09M Interest coverage 4.32x This is the baseline the peer rows are being compared against.
Total debt $340.84M Interest coverage 308.17x +7,029% vs OXM Carries about 71.3x more debt cushion than OXM.
Total debt $1.18B Interest coverage 4.21x -3% vs OXM Has roughly the same debt cushion as OXM.
Total debt $1.27B Interest coverage 5.56x +29% vs OXM Carries about 1.3x more debt cushion than OXM.
Total debt $4.95B Interest coverage 3.64x -16% vs OXM Carries about 1.2x less debt cushion than OXM.
What you should know
The case for and against OXM
2 Rewards
3 Risks
Rewards
-
Free cash flow was positive in 10/10 years.
-
Dividend yield is 8.9% with 40-year payout history.
Risks
-
Net debt grew 37.2% over 3 years.
-
Operating margin compressed from 15.5% to 6.5% over 3 years.
-
Return on equity was -1.2% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
13.41x
P/B
0.84x
P/S
0.32x
EV/EBITDA
11.42x
PEG ratio
1.70x
Profitability
How much profit each dollar creates
Gross margin
60.7%
Operating margin
6.5%
Net margin
-0.5%
ROE
-1.2%
ROA
1.0%
Health
Liquidity and balance-sheet strength
Debt / equity
0.93x
Current ratio
1.18x
Quick ratio
0.35x
Total debt
$524.09M
Total cash
$9.02M
Growth
How the business has been compounding
Revenue TTM
$1.47B
Revenue 5Y CAGR
6.7%
EPS TTM
-0.44
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$137.40M
Free CF TTM
$11.31M
FCF margin
0.8%
Dividend
Shareholder payout
Yield
8.9%
Payout ratio
73.3%
Last ex-div date
2026-10-16