Pro forma comparison
Also: pro forma basis, same-perimeter comparison
A pro forma comparison restates the prior period as if a business acquired or sold during the year had been owned, or absent, throughout. It puts both years on the same perimeter, so growth reflects trading rather than a change of ownership. The company prepares the restatement, often unaudited, and its quality depends on how fully the acquired business's prior-year figures are disclosed.
After an acquisition, management targets are usually set against the pro forma base, because the reported comparison includes months the group did not own. Reading the reported rate alone credits the deal to trading.
Kontoor Brands' second-quarter 2026 revenue from continuing operations rose 18.6% as reported to $584.3m, but 2.4% against the company's own pro forma prior year of $570.5m; $77.8m of the $91.7m increase is two months of Helly Hansen missing from the 2025 quarter.