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In this Form 10-K, all references to the Company, Movado Group, we, us or our include Movado Group, Inc. and its subsidiaries, unless the context requires otherwise. Its portfolio of watch brands is currently comprised of owned brands MOVADO , CONCORD , EBEL , OLIVIA BURTON and MVMT as well as licensed brands COACH , TOMMY HILFIGER , HUGO BOSS , LACOSTE , CALVIN KLEIN and KATE SPADE NEW YORK .
$29.82
+$1.37 (+4.82%)
Price from 10 days ago
Operating margin is thin at 4.44%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue growth slowed to 2.7%, essentially flat. This is a business that needs a catalyst.
Even for strong businesses, today's 21x P/E means the stock needs to keep delivering. There's no margin of safety if growth disappoints.
21.1x earnings, 10.0x FCF. Valuation is in a reasonable range. The main question is whether the business can re-accelerate or if current trajectory is already priced in.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$682M
▲ +2.7% YoY
Net Income (TTM)
$32M
▲ +44.6% YoY
Op. Margin
5.36%
▲ +1.4pp YoY
ROIC
4.78%
▲ +1.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$68M
▲ +664.0% YoY
Op. Cash Flow (TTM)
$72M
▲ +3951.1% YoY
Net Debt
-$152M
Net Cash Position
Cash & Equiv.
$225M
3Y CAGR: -3.4%
3Y CAGR: +4.2%
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