Ralph Lauren vs Raymond: Revenue, Profit and Business Model
Ralph Lauren reported $8.1B of revenue in FY2026 and $941.1M of net income. Raymond reported ~$257.7M of revenue in FY2026 and ~$619.6M of net income.
Latest financial snapshot
Ralph Lauren
- Latest revenue
- $8.1B (FY2026)
- Net income
- $941.1M
- Net margin
- 11.6%
- Revenue growth
- +2.2% a year, FY2017–FY2026
Raymond
- Latest revenue
- ~$257.7M (FY2026)
- Net income
- ~$619.6M
- Net margin
- 240.4%
- Revenue growth
- -22.6% a year, FY2022–FY2026
Financial summary
Ralph Lauren
Revenue fell from $6.65 billion in FY2017 to a pandemic low of $4.40 billion in FY2021, as the company cut wholesale doors, reduced discounting and sold non-core brands. It then recovered to $6.22 billion in FY2022, $7.08 billion in FY2025 and $8.115 billion in FY2026, when net income reached $941.1 million and gross margin was 69.9%. In the first quarter of FY2027 (ended June 27, 2026) revenue grew 14% to $1.96 billion, net income was $262.2 million ($4.28 per diluted share), and the company returned more than $300 million to shareholders while holding $1.9 billion in cash and short-term investments. Management raised its FY2027 revenue and margin outlook after the quarter.
Raymond
Raymond's reported numbers are distorted by its restructuring. Consolidated revenue fell to about $119 million (₹1,023 crore) in FY24 and rose to ~$230 million (₹1,982 crore) in FY25 and ~$258 million (₹2,222 crore) in FY26 as the apparel and then real estate businesses were moved out, while reported net profit in those years includes large one-time gains linked to the demergers. The cleaner view is the continuing engineering business: about $268 million (₹2,312 crore) of total income and ~$38.9 million (₹335 crore) of EBITDA in FY26, then Q1 FY27 total income of ~$72.8 million (₹628 crore) (+13%), EBITDA of ~$11.6 million (₹100 crore) (15.9% margin) and net profit of ~$3.58 million (₹30.9 crore) (+50%).
Revenue and profit by year
Ralph Lauren
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $8.1B | $941.1M | 11.6% | +14.6% | Source |
| FY2025 | $7.1B | $742.9M | 10.5% | +6.7% | Source |
| FY2024 | $6.6B | $646.3M | 9.7% | +2.9% | Source |
| FY2023 | $6.4B | $522.7M | 8.1% | +3.6% | Source |
| FY2022 | $6.2B | $600.1M | 9.7% | +41.3% | Source |
| FY2021 | $4.4B | -$121.1M | -2.8% | -28.6% | Source |
| FY2020 | $6.2B | $384.3M | 6.2% | -2.4% | Source |
| FY2019 | $6.3B | $430.9M | 6.8% | +2.1% | Source |
| FY2018 | $6.2B | $162.8M | 2.6% | -7.1% | Source |
| FY2017 | $6.7B | -$99.3M | -1.5% | — | Source |
Raymond
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | ~$257.7M | ~$619.6M | 240.4% | +12.1% | Source |
| FY2025 | ~$229.9M | ~$885.2M | 385.0% | +93.7% | Source |
| FY2024 | ~$118.7M | ~$190M | 160.0% | -87.5% | Source |
| FY2023 | ~$952.9M | ~$61.4M | 6.4% | +33.0% | Source |
| FY2022 | ~$716.7M | ~$30.2M | 4.2% | — | Source |
Business model and strategy
Ralph Lauren
How it makes money
Ralph Lauren makes money by designing products and selling them through three channels. Retail (company-operated stores, concessions and digital commerce) is the largest channel and gives the company control over pricing and presentation. Wholesale sells to department stores and specialty retailers, mainly in North America and Europe.
Growth strategy
Ralph Lauren's Next Great Chapter: Drive plan focuses on growing its core products (such as polos, cable knits and Oxford shirts), expanding high-potential categories like women's apparel, outerwear and handbags, and expanding in key cities, especially in China and Europe.
Competitive advantage
Ralph Lauren's advantage is a single, consistent brand identity built over almost 60 years, which lets it sell across apparel, home, hospitality (The Polo Bar, Ralph's Coffee) and licensed beauty. High visibility partnerships such as outfitting Team USA at the Olympics since 2008 and Wimbledon officials keep the brand in front of global audiences. That equity supports a gross margin of about 70% in FY2026.
Raymond
How it makes money
Raymond Limited earns money by manufacturing engineered components for industrial customers under long-term supply contracts. 1. Aerospace & Defence (JK Maini Global Aerospace): machined and assembled parts for aircraft engines, airframes and defence programmes, sold to global OEMs and tier-1 suppliers;
Growth strategy
Raymond's growth plan is to tilt the mix toward aerospace and defence: add capacity, win multi-programme orders (such as a September 2026 order covering more than 300 part numbers), move up to higher-value assemblies, and use auto and EV precision parts as a steady base business.
Competitive advantage
Raymond's edge is qualification: aero-engine and airframe parts require years of customer audits and approvals, and JK Maini already supplies global programmes, giving it a multi-year order book that new entrants cannot quickly replicate. It also pairs that aerospace business with a cash-generating auto and tools base and a net cash balance sheet (about $15 million (₹129 crore) at June 30, 2026).
Questions about Ralph Lauren vs Raymond
Which company has higher revenue — Ralph Lauren Corporation or Raymond?
Ralph Lauren Corporation reported $8.1B (FY2026), while Raymond reported ~$257.7M (FY2026). By last reported revenue, Ralph Lauren Corporation is the larger business, with Raymond reporting a smaller revenue base.
What is the market cap of Ralph Lauren Corporation vs Raymond?
Ralph Lauren Corporation's market capitalisation stands at $20.1B, while Raymond's is $910M. Ralph Lauren Corporation carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Raymond.
Which is more financially efficient — Ralph Lauren Corporation or Raymond?
Ralph Lauren Corporation generates $344k / employee in revenue per employee. A comparable figure for Raymond requires matching employee and revenue data from the same reporting period.
How do Ralph Lauren Corporation and Raymond make money?
Ralph Lauren Corporation and Raymond generate revenue in fundamentally different ways. Ralph Lauren Corporation: Ralph Lauren makes money by designing products and selling them through three channels. Raymond: Raymond Limited earns money by manufacturing engineered components for industrial customers under long-term supply contracts.
Which company is valued higher relative to revenue — Ralph Lauren Corporation or Raymond?
On a price-to-sales (P/S) basis, Ralph Lauren Corporation trades at 2.5x P/S and Raymond at 3.5x P/S. Raymond commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Ralph Lauren Corporation. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Ralph Lauren Corporation bigger than Raymond?
By last reported revenue, Ralph Lauren Corporation ($8.1B (FY2026)) is the larger company compared to Raymond (~$257.7M (FY2026)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Ralph Lauren vs Raymond overview