LEVI STRAUSS & CO
LEVI · Apparel & Other Finishd Prods of Fabrics & Similar Matl · 37.6M shares · -0%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: -$66M (gross $8M, SBC $74M)
Reference price $24.02 · est. market cap ~$903M — last insider sale, 2026-06-12 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B74Iconic denim brand with strong margins and free cash flow; thin quick liquidity is the main caveat.
Strengths
- Strong margins — gross margin 61.7% (88th), operating margin 10.8% (87th)
- Solid free cash flow — FCF $308.2M (88th), OCF margin 8.4%
- Manageable leverage — D/E 0.46
Risks
- Weak quick liquidity — quick ratio 0.94 (9th)
- Wholesale-channel and denim-cycle exposure — qualitative (per 10-K)
- DTC-transition execution per risk factors — qualitative (per 10-K)
Notable findings
- Customer concentration~94% of revenue from one customer/distributor — Sales of Levi’s ® brand products represented approximately 94% of our net revenues in both fiscal year 2025 and 2024
- Exec changeRecent 8-K item 5.02 8-K ↗
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Strong balance sheetStrong balance sheet — $849M cash & investments
- Insider sellingInsider selling — 19 open-market sale(s) by 7 insider(s) (cluster of 7 insiders, ~$40M, last 6mo) Form 4 ↗
- Notable holderHeld by 4 notable fund(s): GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC, STATE STREET CORP +1 more (as of 2026-03-31)
- China exposureThere is uncertainty with respect to potential further changes in trade policy and regulations, sanctions and export controls, which increase volatility in the global economy and foreign currency exch
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
61.7%
Operating margin
10.8%
Net margin
9.2%
Return on equity
25.4%
Return on assets
8.4%
ROIC
16.1%
Revenue growth (QoQ)
-1.3%
Net-income growth
174.5%
Debt / equity
0.5×
Net debt / EBITDA
0.2×
Current ratio
1.6×
Free cash flow
$308M
EBITDA
$884M
Tangible book value
$1.8B
Cash & investments
$849M
Stock comp / revenue
1.3%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-12 | Haas Robert D. | Conversion | 202K | — |
| 2026-06-12 | Haas Robert D. | Sell | 202K | $24.02 |
| 2026-06-11 | Haas Margaret E. | Conversion | 48K | — |
| 2026-06-11 | Haas Margaret E. | Sell | 48K | $24.01 |
| 2026-06-11 | Peter E. Haas Jr. Family Fund | Conversion | 146K | — |
| 2026-06-11 | Peter E. Haas Jr. Family Fund | Sell | 146K | $24.01 |
| 2026-06-11 | Haas Robert D. | Conversion | 489K | — |
| 2026-06-11 | Haas Robert D. | Sell | 489K | $24.11 |
| 2026-06-10 | Haas Robert D. | Sell | 3.2K | $24.00 |
| 2026-06-10 | Haas Robert D. | Conversion | 3.2K | — |
| 2026-06-03 | Jedrzejek David | Sell | 336 | $22.82 |
| 2026-06-01 | Jedrzejek David | Tax withheld | 634 | $23.18 |
| 2026-05-27 | Peter E. Haas Jr. Family Fund | Sell | 4.3K | $24.00 |
| 2026-05-27 | Haas Margaret E. | Sell | 2.3K | $24.01 |
| 2026-05-27 | Peter E. Haas Jr. Family Fund | Conversion | 4.3K | — |
| 2026-05-27 | Haas Robert D. | Conversion | 5.8K | — |
| 2026-05-27 | Haas Robert D. | Sell | 5.8K | $24.00 |
| 2026-05-27 | Haas Margaret E. | Conversion | 2.3K | — |
| 2026-05-26 | Haas Robert D. | Sell | 192K | $22.68 |
| 2026-05-26 | Haas Robert D. | Conversion | 192K | — |
| 2026-05-22 | Haas Robert D. | Sell | 177K | $22.01 |
| 2026-05-22 | Haas Robert D. | Conversion | 177K | — |
| 2026-05-21 | Haas Robert D. | Conversion | 31K | — |
| 2026-05-21 | Haas Robert D. | Sell | 31K | $22.00 |
| 2026-05-18 | Haas Robert D. | Sell | 100K | $21.13 |
| 2026-05-18 | Haas Robert D. | Conversion | 100K | — |
| 2026-05-06 | Garten Yael | Grant | 145 | — |
| 2026-05-06 | Prime Joshua E | Grant | 98 | — |
| 2026-05-06 | Patrick Artemis | Grant | 63 | — |
| 2026-05-06 | ECKERT ROBERT | Grant | 355 | — |
| 2026-05-06 | MING JENNY J | Grant | 50 | — |
| 2026-05-06 | MARBERGER DAVID S | Grant | 68 | — |
| 2026-05-06 | Alstead Troy | Grant | 80 | — |
| 2026-05-06 | Jones Jeffrey J II | Grant | 62 | — |
| 2026-05-06 | Hillman Karyn | Sell | 39K | $22.91 |
| 2026-05-06 | Beraud Jill | Grant | 50 | — |
| 2026-05-06 | Geballe Daniel W | Grant | 121 | — |
| 2026-05-06 | Rodgers Elliott | Grant | 80 | — |
| 2026-05-05 | Rodgers Elliott | L | 215 | $22.23 |
| 2026-05-01 | Davis Timothy Joseph | Grant | 18K | — |
| 2026-04-22 | Garten Yael | Grant | 8.4K | — |
| 2026-04-22 | Rodgers Elliott | Grant | 8.4K | — |
| 2026-04-22 | Prime Joshua E | Grant | 8.4K | — |
| 2026-04-22 | Patrick Artemis | Grant | 8.4K | — |
| 2026-04-22 | MING JENNY J | Grant | 8.4K | — |
| 2026-04-22 | MARBERGER DAVID S | Grant | 8.4K | — |
| 2026-04-22 | Jones Jeffrey J II | Grant | 8.4K | — |
| 2026-04-22 | Geballe Daniel W | Grant | 8.4K | — |
| 2026-04-22 | ECKERT ROBERT | Grant | 8.4K | — |
| 2026-04-22 | Beraud Jill | Grant | 8.4K | — |
| 2026-04-22 | Alstead Troy | Grant | 13K | — |
| 2026-04-21 | Singh Harmit J | Sell | 122K | $23.52 |
| 2026-04-20 | Singh Harmit J | Sell | 110K | $23.00 |
| 2026-02-25 | Prime Joshua E | Grant | 125 | — |
| 2026-02-25 | Patrick Artemis | Grant | 89 | — |
| 2026-02-25 | MING JENNY J | Grant | 75 | — |
| 2026-02-25 | MARBERGER DAVID S | Grant | 93 | — |
| 2026-02-25 | ECKERT ROBERT | Grant | 316 | — |
| 2026-02-25 | McCormick Christopher J | Grant | 195 | — |
| 2026-02-25 | Alstead Troy | Grant | 75 | — |
| 2026-02-25 | Geballe Daniel W | Grant | 74 | — |
| 2026-02-25 | Jones Jeffrey J II | Grant | 13 | — |
| 2026-02-25 | Garten Yael | Grant | 98 | — |
| 2026-02-25 | Beraud Jill | Grant | 75 | — |
| 2026-02-25 | Rodgers Elliott | Grant | 106 | — |
| 2026-02-24 | Rodgers Elliott | L | 216 | $22.00 |
| 2026-02-12 | Gowans Jason | Sell | 40K | $21.83 |
| 2026-02-06 | Gowans Jason | Tax withheld | 1.4K | $20.55 |
| 2026-02-03 | Jedrzejek David | Sell | 2.2K | $19.60 |
| 2026-02-03 | Haas Miriam L | Other | 200 | — |
| 2026-01-30 | Singh Harmit J | Tax withheld | 17K | $19.88 |
| 2026-01-30 | Flore Gianluca | Grant | 38K | — |
| 2026-01-30 | Flore Gianluca | Tax withheld | 6.5K | $19.88 |
| 2026-01-30 | Jedrzejek David | Grant | 14K | — |
| 2026-01-30 | Jedrzejek David | Tax withheld | 3.2K | $19.88 |
| 2026-01-30 | Gass Michelle | Grant | 126K | — |
| 2026-01-30 | Gass Michelle | Tax withheld | 49K | $19.88 |
| 2026-01-30 | Singh Harmit J | Grant | 39K | — |
| 2026-01-30 | Davis Timothy Joseph | Grant | 12K | — |
| 2026-01-27 | Jedrzejek David | Sell | 7.1K | $21.38 |
| 2026-01-27 | Singh Harmit J | Tax withheld | 75K | $21.25 |
| 2026-01-22 | Jedrzejek David | Tax withheld | 4.0K | $21.55 |
| 2026-01-22 | Jedrzejek David | Grant | 12K | — |
| 2026-01-22 | Jedrzejek David | Tax withheld | 4.5K | $21.55 |
| 2026-01-22 | Gass Michelle | Grant | 225K | — |
| 2026-01-22 | Singh Harmit J | Grant | 214K | — |
| 2026-01-22 | Singh Harmit J | Tax withheld | 108K | $21.55 |
| 2026-01-22 | Gass Michelle | Tax withheld | 120K | $21.55 |
| 2026-01-22 | Jedrzejek David | Grant | 10K | — |
| 2026-01-21 | Jones Jeffrey J II | Grant | 2.1K | — |
| 2025-12-11 | Singh Harmit J | Tax withheld | 3.4K | $21.61 |
| 2025-12-11 | Jedrzejek David | Tax withheld | 3.4K | $21.61 |
| 2025-11-10 | Jedrzejek David | Sell | 4.3K | $20.60 |
| 2025-11-06 | Jedrzejek David | Tax withheld | 5.2K | $20.01 |
| 2025-11-04 | Prime Joshua E | Grant | 142 | — |
| 2025-11-04 | McCormick Christopher J | Grant | 221 | — |
| 2025-11-04 | MARBERGER DAVID S | Grant | 106 | — |
| 2025-11-04 | Geballe Daniel W | Grant | 83 | — |
| 2025-11-04 | Patrick Artemis | Grant | 100 | — |
| 2025-11-04 | MING JENNY J | Grant | 85 | — |
| 2025-11-04 | Garten Yael | Grant | 111 | — |
| 2025-11-04 | ECKERT ROBERT | Grant | 358 | — |
| 2025-11-04 | Beraud Jill | Grant | 85 | — |
| 2025-11-04 | Alstead Troy | Grant | 85 | — |
| 2025-11-04 | Rodgers Elliott | Grant | 120 | — |
| 2025-11-03 | Rodgers Elliott | L | 238 | $19.85 |
| 2025-10-01 | Davis Timothy Joseph | Grant | 5.1K | — |
| 2025-10-01 | Haas Margaret E. | Conversion | 50K | — |
| 2025-10-01 | Peter E. Haas Jr. Family Fund | Sell | 150K | $24.19 |
| 2025-10-01 | Peter E. Haas Jr. Family Fund | Conversion | 150K | — |
| 2025-10-01 | Davis Timothy Joseph | Grant | 11K | — |
| 2025-10-01 | Haas Margaret E. | Sell | 50K | $24.14 |
| 2025-08-08 | Garten Yael | Grant | 107 | — |
| 2025-08-08 | Fleischer Spencer C | Grant | 213 | — |
| 2025-08-08 | ECKERT ROBERT | Grant | 346 | — |
| 2025-08-08 | Beraud Jill | Grant | 82 | — |
| 2025-08-08 | Alstead Troy | Grant | 82 | — |
| 2025-08-08 | Rodgers Elliott | Grant | 116 | — |
| 2025-08-08 | Prime Joshua E | Grant | 137 | — |
| 2025-08-08 | Patrick Artemis | Grant | 97 | — |
| 2025-08-08 | MING JENNY J | Grant | 82 | — |
| 2025-08-08 | McCormick Christopher J | Grant | 213 | — |
| 2025-08-08 | MARBERGER DAVID S | Grant | 102 | — |
| 2025-08-08 | Geballe Daniel W | Grant | 80 | — |
| 2025-08-07 | Rodgers Elliott | L | 233 | $20.14 |
| 2025-07-29 | Flore Gianluca | Tax withheld | 24K | $20.51 |
| 2025-07-19 | Haas Robert D. | Gift | 250K | — |
| 2025-07-14 | Haas Bradley J. | Sell | 1.1K | $21.32 |
| 2025-07-11 | Stirling Lisa | Sell | 3.6K | $22.00 |
| 2025-07-01 | Stirling Lisa | Tax withheld | 226 | $18.87 |
| 2025-06-23 | Jedrzejek David | Sell | 461 | $18.00 |
| 2025-06-02 | Jedrzejek David | Tax withheld | 515 | $17.09 |
| 2025-05-20 | Jedrzejek David | Sell | 15K | $18.00 |
| 2025-05-09 | Patrick Artemis | Grant | 104 | — |
| 2025-05-09 | Prime Joshua E | Grant | 147 | — |
| 2025-05-09 | Alstead Troy | Grant | 88 | — |
| 2025-05-09 | ECKERT ROBERT | Grant | 370 | — |
| 2025-05-09 | Fleischer Spencer C | Grant | 229 | — |
| 2025-05-09 | Garten Yael | Grant | 115 | — |
| 2025-05-09 | MARBERGER DAVID S | Grant | 109 | — |
| 2025-05-09 | McCormick Christopher J | Grant | 229 | — |
| 2025-05-09 | Beraud Jill | Grant | 88 | — |
| 2025-05-09 | MING JENNY J | Grant | 88 | — |
| 2025-05-09 | Rodgers Elliott | Grant | 124 | — |
| 2025-05-08 | Rodgers Elliott | L | 253 | $17.09 |
| 2025-04-26 | Geballe Daniel W | Grant | 12K | — |
| 2025-04-23 | Garten Yael | Grant | 12K | — |
| 2025-04-23 | Rodgers Elliott | Grant | 12K | — |
| 2025-04-23 | Prime Joshua E | Grant | 12K | — |
| 2025-04-23 | MING JENNY J | Grant | 12K | — |
| 2025-04-23 | McCormick Christopher J | Grant | 12K | — |
| 2025-04-23 | MARBERGER DAVID S | Grant | 12K | — |
| 2025-04-23 | Friedman David A | Grant | 12K | — |
| 2025-04-23 | Fleischer Spencer C | Grant | 12K | — |
| 2025-04-23 | ECKERT ROBERT | Grant | 18K | — |
| 2025-04-23 | Beraud Jill | Conversion | 109K | — |
| 2025-04-23 | Beraud Jill | Grant | 12K | — |
| 2025-04-23 | Patrick Artemis | Grant | 12K | — |
| 2025-04-23 | Alstead Troy | Grant | 12K | — |
| 2025-03-03 | Friedman David A | Sell | 4.2K | $18.02 |
| 2025-02-28 | Prime Joshua E | Grant | 112 | — |
| 2025-02-28 | MING JENNY J | Grant | 56 | — |
| 2025-02-28 | Alstead Troy | Grant | 56 | — |
| 2025-02-28 | McCormick Christopher J | Grant | 134 | — |
| 2025-02-28 | MARBERGER DAVID S | Grant | 76 | — |
| 2025-02-28 | Garten Yael | Grant | 82 | — |
| 2025-02-28 | Friedman David A | Grant | 56 | — |
| 2025-02-28 | Rodgers Elliott | Grant | 91 | — |
| 2025-02-28 | ECKERT ROBERT | Grant | 220 | — |
| 2025-02-28 | Beraud Jill | Grant | 56 | — |
| 2025-02-28 | Patrick Artemis | Grant | 15 | — |
| 2025-02-28 | Fleischer Spencer C | Grant | 134 | — |
| 2025-02-27 | Rodgers Elliott | L | 187 | $17.50 |
| 2025-02-03 | Friedman David A | Sell | 4.2K | $18.44 |
| 2025-02-03 | Patrick Artemis | Grant | 2.2K | — |
| 2025-01-31 | Flore Gianluca | Grant | 39K | — |
| 2025-01-31 | Jedrzejek David | Grant | 14K | — |
| 2025-01-31 | Singh Harmit J | Grant | 42K | — |
| 2025-01-31 | Stirling Lisa | Grant | 14K | — |
| 2025-01-31 | O'Neill Elizabeth T | Grant | 18K | — |
| 2025-01-31 | Gass Michelle | Grant | 133K | — |
| 2025-01-24 | Stirling Lisa | Tax withheld | 6.0K | $17.54 |
| 2025-01-24 | Singh Harmit J | Tax withheld | 7.3K | $17.54 |
| 2025-01-24 | O'Neill Elizabeth T | Tax withheld | 6.9K | $17.54 |
| 2025-01-24 | Jedrzejek David | Tax withheld | 3.4K | $17.54 |
| 2025-01-24 | Gass Michelle | Tax withheld | 32K | $17.54 |
| 2025-01-24 | Flore Gianluca | Tax withheld | 3.0K | $17.54 |
| 2025-01-17 | Singh Harmit J | Grant | 42K | — |
| 2025-01-17 | Singh Harmit J | Tax withheld | 23K | $17.37 |
| 2025-01-17 | Jedrzejek David | Grant | 5.9K | — |
| 2025-01-17 | Jedrzejek David | Tax withheld | 2.4K | $17.37 |
| 2025-01-17 | Stirling Lisa | Grant | 5.9K | — |
| 2025-01-17 | Stirling Lisa | Tax withheld | 3.5K | $17.37 |
| 2025-01-17 | O'Neill Elizabeth T | Grant | 19K | — |
| 2025-01-17 | O'Neill Elizabeth T | Tax withheld | 6.7K | $17.37 |
| 2025-01-06 | O'Neill Elizabeth T | Conversion | 19K | — |
| 2025-01-06 | Friedman David A | Sell | 4.2K | $18.00 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (3)
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-15 | Exec/director change | filing ↗ |
| 2026-04-27 | Shareholder vote | filing ↗ |
| 2026-04-27 | 5.03Exhibits | filing ↗ |
| 2026-04-07 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-04-07 | ResultsExhibits | filing ↗ |
| 2026-01-29 | Exec/director change | filing ↗ |
| 2026-01-28 | ResultsExhibits | filing ↗ |
| 2025-12-16 | Exec/director changeReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-15 | 2026-06-10 | 0001999371-26-012853 ↗ |
| 8-K | 2026-04-27 | 2026-04-22 | 0000094845-26-000027 ↗ |
| 8-K | 2026-04-27 | 2026-04-23 | 0000094845-26-000026 ↗ |
| 8-K | 2026-04-07 | 2026-04-03 | 0001999371-26-007834 ↗ |
| 8-K | 2026-04-07 | 2026-04-07 | 0000094845-26-000021 ↗ |
| 10-Q | 2026-04-07 | 2026-03-01 | 0000094845-26-000020 ↗ |
| 8-K | 2026-01-29 | 2026-01-23 | 0001999371-26-002055 ↗ |
| 8-K | 2026-01-28 | 2026-01-28 | 0000094845-26-000009 ↗ |
| 10-K | 2026-01-28 | 2025-11-30 | 0000094845-26-000008 ↗ |
| 8-K | 2025-12-16 | 2025-12-11 | 0001999371-25-020440 ↗ |
| 10-Q | 2025-10-09 | 2025-08-31 | 0000094845-25-000050 ↗ |
| 8-K | 2025-10-09 | 2025-10-09 | 0000094845-25-000051 ↗ |