Carter's, Inc. CRI

Consumer DiscretionarySpecialty RetailersUnited States of America

Last close 31.54 USD on Nov 1, 2026, −0.6% year to date

Quant rating

Quant rating D Rank 269 of 344 in Consumer Discretionary

Growth D 280 of 344
Valuation A 7 of 344
Quality D 280 of 344
Revisions D 287 of 344
Momentum D 263 of 344

Wall Street consensus Hold (2.71)Average target 37.33 USD +18.4%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 1.2B
Enterprise value: 1.1B
52-week range: 27.86 – 44.40
3-year range: 23.65 – 87.92
Dividend yield: 3.17%
Beta (5 years): 0.85
Shares outstanding: 36.7M
Next earnings: Oct 30, 2026

About the company

Carter's, Inc. is a marketer of young children's apparel in North America. Its segments include U.S. Retail, U.S. Wholesale, and International. The U.S. Retail segment includes sales of products in the United States through its retail stores and eCommerce websites. The U.S. Wholesale segment consists of sales in the United States of products to its wholesale partners. The International segment includes sales of products outside the United States, through its retail stores and e-commerce websites in Canada and Mexico, and sales to its international wholesale customers and licensees. It owns Carter's and OshKosh B'gosh brands. These brands are sold in department stores, national chains, and specialty retailers domestically and internationally. They are also sold through nearly 1,000 Company-operated stores in the United States, Canada, and Mexico and online at www.carters.com, www.oshkosh.com, www.cartersoshkosh.ca, and www.carters.com.mx. It also owns Little Planet and Skip Hop brands.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	2,898	2,844	2,946	3,213	3,486	–
Revenue growth	1.9%	−3.4%	−8.3%	−7.9%	15.3%	−0.8%
EPS (basic, normalized)	3.47	6.06	6.19	6.90	7.87	–
EPS growth	−42.7%	−2.1%	−10.3%	−12.3%	–	–
Gross margin	45.4%	48.0%	47.4%	45.8%	47.5%	46.8%
Net margin	3.1%	6.4%	7.7%	7.7%	9.6%	6.9%
ROE	10.3%	21.8%	28.3%	28.6%	36.0%	25.0%

Balance sheet, last quarter
Cash & short-term investments (mil)	526
Current ratio	2.47x
Long-term debt (mil)	568
Net debt (mil)	−85.8
Total equity (mil)	1,054
Net debt / equity	−0.08x
Net debt / EBITDA	−0.37x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	2,898	+1.9%	0.4x	232	−29.6%	4.6x	3.47	−42.7%	9.1x
2026	2,947	+1.7%	0.4x	236	+1.8%	4.5x	3.21	−7.5%	9.8x
2027	2,966	+0.7%	0.4x	261	+10.3%	4.1x	3.39	+5.6%	9.3x
2028	2,984	+0.6%	0.4x	287	+10.1%	3.7x	3.41	+0.5%	9.3x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	2,947	−1.0%	−1.4%	−1.9%	3.21	−1.9%	−1.3%	+2.9%
2027	2,966	−2.0%	−2.1%	−2.3%	3.39	−8.2%	−6.2%	−5.3%
2028	2,984	−2.0%	−2.4%	−2.5%	3.41	−14.3%	−14.2%	−12.2%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	661	564	758	860	630	585	758	925	681	615
Sales mean (mil)	640	568	756	838	624	565	770	922	661	606
Surprise	+3.3%	−0.7%	+0.4%	+2.6%	+1.0%	+3.6%	−1.5%	+0.3%	+3.1%	+1.6%
EPS reported	1.04	0.76	1.68	2.59	0.66	0.17	0.74	1.90	0.39	0.26
EPS mean	0.77	0.49	1.40	1.92	0.53	0.39	0.73	1.74	0.13	0.06
Surprise	+34.9%	+55.0%	+20.2%	+35.1%	+24.6%	−56.5%	+0.7%	+9.0%	+210.6%	+321.3%

Peer comparison Specialty Retailers

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
CRI Carter's, Inc.	1.2B	−0.37x	3.1%	1.13x	9.8x	9.3x	4.5x	4.1x
ROST Ross Stores Inc	72.9B	−1.02x	9.4%	10.82x	27.4x	25.4x	17.4x	16.5x
ULTA Ulta Beauty Inc	27.4B	0.07x	9.3%	10.37x	22.1x	19.9x	13.8x	13.0x
TPR Tapestry, Inc.	23.1B	0.56x	19.1%	33.67x	14.6x	13.1x	10.9x	10.2x
AS Amer Sports Inc	16.4B	0.35x	6.5%	2.39x	22.2x	18.0x	10.7x	9.0x
BURL Burlington Stores, Inc.	14.9B	0.94x	5.3%	7.44x	20.1x	17.4x	10.7x	9.5x
Mean		0.09x	8.8%	10.97x	19.4x	17.2x	11.3x	10.4x
Median		0.21x	7.9%	8.90x	21.1x	17.7x	10.8x	9.8x

Technical analysis

1M+1.7%
3M−19.4%
1Y+3.1%
3Y−44.5%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Carter's, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	2,898	2,844	2,946	3,213	3,486	3,024
Cost of revenue	1,584	1,479	1,550	1,740	1,832	1,696
Gross profit	1,315	1,365	1,396	1,472	1,654	1,328
Selling, general & administrative expenses	1,185	1,096	1,090	1,110	1,187	1,054
Research & development	–	–	–	–	–	–
Depreciation/amortization	3.7	3.7	3.7	–	–	–
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	10.4	30.0	0	28.9	−1.0	110
Other operating expenses	−18.1	−19.3	−21.4	−25.8	−28.7	−26.3
Operating income	134	255	323	359	497	190
Net interest income (expense)	−20.8	−20.3	−29.2	−41.5	−59.2	−54.5
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	1.1	−3.6	8.0	−1.0	0.4	−0.3
Net income before taxes	114	231	302	317	438	135
Provision for taxes	22.0	45.3	69.7	66.7	98.5	25.3
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	91.8	186	232	250	340	110
Extraordinary items	–	–	–	–	–	–
Net income	91.8	186	232	250	340	110
EBIT, normalized	169	279	322	388	496	300
EBITDA, normalized	225	337	386	453	590	394
Basic EPS, normalized	3.47	6.06	6.19	6.90	7.87	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Carter's, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	509	413	351	212	984	1,102
Receivables	179	195	184	199	231	187
Total inventory	545	502	537	745	648	599
Prepaid expenses	25.2	19.4	16.0	15.9	19.8	57.9
Other current assets	13.6	13.2	13.1	17.9	16.5	0
Total current assets	1,271	1,143	1,101	1,189	1,900	1,946
Property, plant & equipment	778	758	712	682	704	855
Goodwill	209	207	211	209	212	212
Intangibles	289	292	325	329	342	345
Long-term investments	–	19.5	17.3	15.1	17.5	–
Note receivable	–	–	–	–	–	–
Other long-term assets	18.8	14.5	12.6	15.4	13.4	34.0
Total assets	2,565	2,433	2,379	2,440	3,188	3,393
Liabilities
Accounts payable	236	248	242	264	407	472
Payable/accrued	–	–	–	–	–	–
Accrued expenses	241	218	228	224	275	242
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	–	–	–	–	–	–
Other current liabilities	29.0	42.1	41.9	40.8	35.5	78.7
Total current liabilities	506	509	512	529	717	793
Long-term debt	567	498	497	617	991	990
Minority interest	–	–	–	–	–	–
Other liabilities	567	572	524	498	529	672
Total liabilities	1,640	1,579	1,533	1,643	2,238	2,455
Shareholders' equity
Preferred stock	0	0	0	0	0	0
Common stock	0.4	0.4	0.4	0.4	0.4	0.4
Additional paid-in capital	19.6	3.9	0	0	0	17.8
Retained earnings (accumulated deficit)	929	894	869	830	979	953
Treasury stock	–	–	–	–	–	–
Other equity	−24.4	−43.7	−23.9	−34.3	−28.9	−32.8
Total equity	925	855	845	796	950	938
Total liabilities & shareholders' equity	2,565	2,433	2,379	2,440	3,188	3,393

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Carter's, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	91.8	186	232	250	340	110
Depreciation, depletion & amortization	55.3	57.9	64.1	65.3	94.1	94.0
Deferred taxes	−0.2	−6.4	−0.6	−0.7	−13.5	−23.3
Non-cash items	32.7	50.2	11.7	61.6	27.8	80.1
Changes in working capital	−57.3	11.6	221	−288	−180	328
Cash from operations	122	299	529	88.4	268	588
Investing activities
Capital expenditures	−53.7	−56.2	−59.9	−40.4	−37.4	−32.9
Other investing cash flows	0	0	0	0	5.0	1.4
Cash from investing	−53.7	−56.2	−59.9	−40.4	−32.4	−31.5
Financing activities
Financing cash flow items	−16.6	−8.5	−5.0	−25.9	−4.2	−12.7
Cash dividends paid	−56.4	−116	−112	−118	−60.1	−26.3
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	75.0	−50.2	−216	−675	−288	364
Cash from financing	2.0	−175	−333	−819	−353	325
Foreign exchange effects	3.5	−6.1	2.8	−1.3	−1.1	6.1
Net change in cash	74.1	61.7	139	−773	−118	888
Free cash flow	68.6	243	469	48.0	231	556

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.