• V.F average pre-tax profit margin for 2023 was 1.15%, a 85.85% decline from 2022.
• V.F average pre-tax profit margin for 2022 was 8.13%, a 12.96% decline from 2021.
• V.F average pre-tax profit margin for 2021 was 9.34%, a 234.77% decline from 2020.

Pre-tax profit margin can be defined as earnings before taxes as a portion of total revenue.