Oxford Industries Inc

OXM

Men's & Boys' Furnishgs, Work Clothg, & Allied Garments

Mkt Cap

$1.671B

PE

27.53

Debt

$29.3M

Cash

$7.604M

EV

$1.693B

FCF

$170.2M

Market Cap

$1.671B

P/E Ratio

27.53

Debt

$29.3M

Cash

$7.604M

EV

$1.693B

FCF

$170.2M

Charts data: {"Earnings":[{"time":"2015-01-30","value":45758000},{"time":"2016-01-29","value":30562000},{"time":"2017-01-27","value":52461000},{"time":"2018-02-02","value":65090000},{"time":"2019-02-01","value":66291000},{"time":"2020-01-31","value":68493000},{"time":"2021-01-29","value":-95692000},{"time":"2022-01-28","value":131321000},{"time":"2023-01-27","value":165735000},{"time":"2024-02-02","value":60703000}],"Sales":[{"time":"2015-01-30","value":997806000},{"time":"2016-01-29","value":969290000},{"time":"2017-01-27","value":1022588000},{"time":"2018-02-02","value":1086211000},{"time":"2019-02-01","value":1107466000},{"time":"2020-01-31","value":1122790000},{"time":"2021-01-29","value":748833000},{"time":"2022-01-28","value":1142079000},{"time":"2023-01-27","value":1411528000},{"time":"2024-02-02","value":1571475000}],"Net Margins":[{"time":"2015-01-30","value":0.04585861379867429},{"time":"2016-01-29","value":0.03153029537083845},{"time":"2017-01-27","value":0.05130218621771427},{"time":"2018-02-02","value":0.05992390060494692},{"time":"2019-02-01","value":0.0598582710439869},{"time":"2020-01-31","value":0.061002502694181455},{"time":"2021-01-29","value":-0.12778817172854295},{"time":"2022-01-28","value":0.11498416484323765},{"time":"2023-01-27","value":0.11741531163391729},{"time":"2024-02-02","value":0.038628040535166004}],"Assets":[{"time":"2015-01-30","value":645067000},{"time":"2016-01-29","value":582690000},{"time":"2017-01-27","value":685159000},{"time":"2018-02-02","value":699941000},{"time":"2019-02-01","value":727254000},{"time":"2020-01-31","value":1033369000},{"time":"2021-01-29","value":865634000},{"time":"2022-01-28","value":957642000},{"time":"2023-01-27","value":1188665000},{"time":"2024-02-02","value":1097844000}],"Stockholders Equity":[{"time":"2015-01-30","value":290605000},{"time":"2016-01-29","value":334400000},{"time":"2017-01-27","value":376130000},{"time":"2018-02-02","value":429824000},{"time":"2019-02-01","value":478355000},{"time":"2020-01-31","value":528598000},{"time":"2021-01-29","value":405728000},{"time":"2022-01-28","value":507664000},{"time":"2023-01-27","value":556270000},{"time":"2024-02-02","value":560914000}],"ROE":[{"time":"2015-01-30","value":0.15745771752034549},{"time":"2016-01-29","value":0.09139354066985646},{"time":"2017-01-27","value":0.1394757131842714},{"time":"2018-02-02","value":0.15143407534246575},{"time":"2019-02-01","value":0.1385811792497204},{"time":"2020-01-31","value":0.1295748375892455},{"time":"2021-01-29","value":-0.23585259089833582},{"time":"2022-01-28","value":0.258676998959942},{"time":"2023-01-27","value":0.2979398493537311},{"time":"2024-02-02","value":0.1082215812049619}],"ROA":[{"time":"2015-01-30","value":0.12960359156490722},{"time":"2016-01-29","value":0.16735142185381593},{"time":"2017-01-27","value":0.13118706752739145},{"time":"2018-02-02","value":0.12286749883204441},{"time":"2019-02-01","value":0.12456720760559585},{"time":"2020-01-31","value":0.09065009691600967},{"time":"2021-01-29","value":-0.1430731694919562},{"time":"2022-01-28","value":0.17282345594700316},{"time":"2023-01-27","value":0.18405017393462414},{"time":"2024-02-02","value":0.07376457857400505}]}

Oxford Industries, Inc., an apparel company, designs, sources, markets, and distributes products of lifestyle and other brands worldwide. The company offers men's and women's sportswear and related products under the Tommy Bahama brand; women's and girl's dresses and sportswear, scarves, bags, jewelry, and belts, as well as footwear and children's apparel and swimwear under the Lilly Pulitzer brand; and men's shirts, pants, shorts, outerwear, ties, swimwear, footwear, and accessories, as well as women and youth products under the Southern Tide brand. It also designs, sources, markets, and distributes premium childrenswear, including bonnets, hats, apparel, swimwear, and accessories through thebeaufortbonnetcompany.com and wholesale specialty retailers; men's apparel, which include pants, shorts, and tops through duckhead.com and wholesale specialty retailers. In addition, the company licenses Tommy Bahama brand for various products, such as indoor and outdoor furniture, beach chairs, bedding and bath linens, fabrics, leather goods and gifts, headwear, hosiery, sleepwear, shampoo, toiletries, fragrances, cigar accessories, distilled spirits, and other products; Lilly Pulitzer for stationery and gift products, home furnishing products, and eyewear; and Southern Tide trademark for bed and bath product. Oxford Industries, Inc. offers products through its retail stores, department stores, specialty stores, multi-branded e-commerce retailers, off-price retailers, and other retailers, as well as e-commerce sites. As of January 29, 2022, it operated 186 brand-specific full-price retail stores; 21 Tommy Bahama food and beverage locations; and 35 Tommy Bahama outlet stores. Oxford Industries, Inc. was founded in 1942 and is headquartered in Atlanta, Georgia.

Sector

10-Q
7/29/23
10-Q
4/29/23
10-K
1/28/23
10-Q
10/29/22
10-Q
7/30/22
10-Q
4/30/22
10-K
1/29/22
10-Q
10/30/21
10-Q
7/31/21
10-Q
5/1/21
10-K
1/30/21
10-Q
10/31/20
10-Q
8/1/20
10-Q
5/2/20
10-K
2/1/20
10-Q
11/2/19
10-Q
8/3/19
10-Q
5/4/19
10-K
2/2/19
10-Q
11/3/18
10-Q
8/4/18
10-Q
5/5/18
10-K
2/3/18

DCF

Discounted Cash Flow Valuation of Oxford Industries Inc

Calculate

Growth Years

Growth

Start

End

Discount

Start

End

Multiple

g\r	+10%	+11%	+12%	+13%	+14%
0%	10	9	8	8	7
+1%	11	10	9	8	8
+2%	13	11	10	9	8
+3%	14	13	11	10	9
+4%	17	14	12	11	10

Years	0	1	2	3	4	5	6	7	8	9	10	TV
FCF	$170.2M	$196M	$223.6M	$252.5M	$282.3M	$312.4M	$342.2M	$371M	$397.9M	$422.3M	$443.4M	$4.434B
DCF		$170.5M	$169.1M	$166M	$161.4M	$155.3M	$147.9M	$139.5M	$130.1M	$120M	$109.6M	$1.096B
Value	$2.566B

Chart P/E ratio

In the chart Earnings are multiplied by this value.

Earnings Growth 19%

Earnings Stability 59%

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

The Net Margin is too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Over time the ROA has been increasing indicating a higher marginal ROA with respect to the calculated one, giving a good sign for continued growth.

Years	01-2016	01-2017	02-2018	02-2019	01-2020	01-2021	01-2022	01-2023	02-2024	TTM
Net Margin	3.2%	5.1%	6%	6%	6.1%	-13%	11%	12%	3.9%	3.9%
ROA	17%	13%	12%	12%	9.1%	-14%	17%	18%	7.4%	7.4%
ROE	9.1%	14%	15%	14%	13%	-24%	26%	30%	11%	11%

What is the average Net Margin?

The average Net Margin over the past 5 years is +4.4%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is +0.87%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +8.38%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is +0.98%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is +11.62%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is +2.42%.

Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Under the assumption that FCF does not diminish and debt does not increase, the current years to repay the debt are acceptable.

The Graham’s stability indicate a relevant drawdown, consider checking when it has occured and why.

Years	01-2016	01-2017	02-2018	02-2019	01-2020	01-2021	01-2022	01-2023	02-2024	TTM
Debt FCF	1.36	1.32	0.57	0.22	-	-	-	1.51	0.17	0.17
Debt Equity	0.13	0.24	0.11	0.03	-	-	-	0.21	0.05	0.05
MIN
Graham Stability	-	-	100%	100%	100%	-140%	100%	100%	90%	-140%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 0.17.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is 0.09.

What is the Graham’s Stability?

Graham’s Stability measure stands at -1.44.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Earnings growth has not been increasing in the past years.

Years	01-2017	02-2019	01-2021	01-2023	Trend
Revenue	6.3%	7.2%	28%	11%	2.8%
Net Income	2.1%	-1.7%	-	-63%	-5.5%
Stockholders Equity	5.9%	3.2%	11%	0.83%	-1.3%
FCF	14%	23%	46%	120%	7.3%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is +7.25%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is +2.81%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is -1.75%.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is -5.47%.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is +3.24%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is -1.31%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is +23.46%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is +7.34%.