Levi StraussLEVI +0.77%85 Operating Margin % is 11.86% as of Feb. 2026, which is 21% above its 10-year median of 9.81. GuruFocus rates LEVI with a GF Score™ of 85/100 and a GF Value™ of $20.66 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 1,043 Manufacturing - Apparel & Accessories companies, Levi Strauss ranks better than 80.15% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. Levi Strauss's Operating Income for the
three
months ended in Feb. 2026 was $207 Mil. Levi Strauss's Revenue for the
three
months ended in Feb. 2026 was $1,743 Mil. Therefore, Levi Strauss's Operating Margin % for the quarter that ended in Feb. 2026 was 11.86%.
Good Sign:
Levi Strauss & Co operating margin is expanding. Margin expansion is usually a good sign.
The historical rank and industry rank for Levi Strauss's Operating Margin % or its related term are showing as below:
LEVI'
s Operating Margin % Range Over the Past 10 Years
Min: 2.15 Med: 9.81 Max: 11.91
Current: 10.93
Levi Strauss's 5-Year Average Operating Margin % Growth Rate was 23.00% per year.
Levi Strauss's Operating Income for the
three
months ended in Feb. 2026 was $207 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2026 was $710 Mil.
Levi Strauss (NYSE:LEVI) Operating Margin % Explanation
Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.
Be Aware
Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokias Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
Levi Strauss Operating Margin % Related Terms
Levi Strauss Operating Margin % Historical Data
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The historical data trend for Levi Strauss's Operating Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
LEVI vs VFC, PVH, KTB: Operating Margin % Comparison
For the Apparel Manufacturing subindustry, Levi Strauss's Operating Margin %, along with its competitors' market caps and Operating Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Levi Strauss Operating Margin % vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Levi Strauss's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Levi Strauss's Operating Margin % falls into.
Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.
Levi Strauss's Operating Margin % for the fiscal year that ended in Nov. 2025 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Levi Strauss (LEVI) has a Operating Margin % of 11.86% as of Feb. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Levi Strauss and its competitors. This is 21% above median its historical median of 9.81. Over the past decade, Levi Strauss' Operating Margin % has ranged from 2.15 to 11.91. According to the industry distribution chart, Levi Strauss ranks #207 out of 1043 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 19.8%.
Is Levi Strauss' Operating Margin % too high?
Levi Strauss' current Operating Margin % of 11.86% is 21% above median its 10-year median of 9.81. Over the past 10 years, this metric has ranged from a low of 2.15 to a high of 11.91. The Manufacturing - Apparel & Accessories industry median Operating Margin % is 4.08. Levi Strauss' value of 11.86% is 190.7% above this industry median. Based on the distribution chart, Levi Strauss ranks #207 out of 1043 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. Overall, Levi Strauss has a GF Score™ of 85/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Levi Strauss' Operating Margin % compare to VFC and PVH?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Levi Strauss ranks #207 out of 1043 companies for Operating Margin %. This places Levi Strauss in the top 20% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 4.08. Levi Strauss' value of 11.86% is 190.7% above this benchmark. Historically, Levi Strauss' own Operating Margin % has ranged from 2.15 to 11.91 over the past decade. While the company's 10-year median is 9.81 vs. the industry median of 4.08, Levi Strauss has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Margin % for a Manufacturing - Apparel & Accessories company?
The median Operating Margin % among Manufacturing - Apparel & Accessories companies is 4.08, based on 1,043 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Levi Strauss's current Operating Margin % of 11.86% is 190.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on Levi Strauss and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Operating Margin % is 4.08 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Levi Strauss's current Operating Margin % is 11.86%, which is 21% above median its own 10-year median of 9.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Levi Strauss stock overvalued right now?
Based on GuruFocus' analysis, Levi Strauss (LEVI) is currently considered Modestly Overvalued. The stock's GF Value™ is $20.66, compared to a current price of $23.55 — trading 14% above its estimated fair value. The current Operating Margin % is 11.86%, which is 21% above median its 10-year median of 9.81 and 190.7% above the Manufacturing - Apparel & Accessories industry median of 4.08. Levi Strauss' overall GF Score™ is 85/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For Levi Strauss (LEVI), the current Operating Margin % is 11.86% as of Feb. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Levi Strauss (LEVI) Overvalued in 2026?
Based on GuruFocus' analysis, Levi Strauss stock appears to be overvalued.
The current stock price of $23.55 is trading 14% above its estimated GF Value™ of $20.66.
GuruFocus considers Levi Strauss to be Modestly Overvalued.
Key valuation signals for LEVI:
Operating Margin %: 11.86% (21% above median its 10-year median of 9.81)
GF Value™: $20.66 vs. price of $23.55 (14% above fair value)
Industry Position: 190.7% above the Manufacturing - Apparel & Accessories median (#207 of 1043)
No single metric tells the full story. See the LEVI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Levi Strauss & Co is involved in designing, marketing, and selling products that include jeans, casual and dresses pants, tops, shorts, skirts, jackets, footwear, and related accessories directly or through third parties and licensees for men, women, and children under Levi's, Dockers, Signature by Levi Strauss & Co. and Denizen brands. The company manages its business according to three regional segments: the Americas, which is the key revenue driver; Europe; and Asia.
85GF Score
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