Balance Sheet Gildan Activewear Inc.

Equities

GIL

CA3759161035

Apparel & Accessories

Delayed Toronto S.E. Other stock markets 04:00:00 2025-02-07 pm EST			5-day change	1st Jan Change
73.09 ^CAD	-1.58%		-2.48%	+8.04%

Feb. 05	Gildan Activewear Target Lifted to $78 at National Bank	MT
Jan. 23	Gildan Activewear Inc. Unveils Fresh Styles and Product Innovations at the Impressions Expo	CI

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Published financial data: GILDAN ACTIVEWEAR INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	2.82B	1.98B	2.92B	3.24B	3.2B
Total Revenues	2.82B	1.98B	2.92B	3.24B	3.2B
Cost of Goods Sold, Total	2.08B	1.79B	2.09B	2.28B	2.32B
Gross Profit	740M	193M	830M	959M	880M
Selling General & Admin Expenses, Total	340M	272M	314M	324M	330M
Provision for Bad Debts	27.65M	15.45M	-2.62M	2.15M	-
Other Operating Expenses, Total	368M	288M	312M	326M	330M
Operating Income	372M	-94.7M	519M	632M	550M
Interest Expense, Total	-32.09M	-33.67M	-17.73M	-28.76M	-57.2M
Net Interest Expenses	-32.09M	-33.67M	-17.73M	-28.76M	-57.2M
Currency Exchange Gains (Loss)	929K	-229K	-782K	2.33M	-153K
Other Non Operating Income (Expenses)	-8.01M	-14.63M	-8.82M	-10.52M	-22.31M
EBT, Excl. Unusual Items	333M	-143M	491M	595M	470M
Restructuring Charges	-83.33M	-96.95M	-17.22M	521K	-45.76M
Impairment of Goodwill	-	-21.23M	-	-	-
Asset Writedown	-	-72.76M	31.46M	-62.29M	40.77M
Insurance Settlements	-	111M	101M	32.9M	74.17M
Other Unusual Items	-	-6.2M	18.3M	-	25.01M
EBT, Incl. Unusual Items	250M	-229M	625M	566M	564M
Income Tax Expense	-9.98M	-4.09M	17.38M	24.89M	30.6M
Earnings From Continuing Operations	260M	-225M	607M	542M	534M
Net Income to Company	260M	-225M	607M	542M	534M
Net Income - (IS)	260M	-225M	607M	542M	534M
Net Income to Common Incl Extra Items	260M	-225M	607M	542M	534M
Net Income to Common Excl. Extra Items	260M	-225M	607M	542M	534M
Per Share Items
Net EPS - Basic	1.27	-1.14	3.08	2.94	3.03
Basic EPS - Continuing Operations	1.27	-1.14	3.08	2.94	3.03
Basic Weighted Average Shares Outstanding	204M	198M	197M	184M	176M
Net EPS - Diluted	1.27	-1.14	3.07	2.93	3.03
Diluted EPS - Continuing Operations	1.27	-1.14	3.07	2.93	3.03
Diluted Weighted Average Shares Outstanding	205M	198M	198M	185M	176M
Normalized Basic EPS	1.02	-0.45	1.56	2.02	1.67
Normalized Diluted EPS	1.02	-0.45	1.55	2.02	1.67
Dividend Per Share	0.56	-	0.46	0.68	0.74
Payout Ratio	42.47	-13.56	14.9	22.86	24.7
Supplemental Items
EBITDA	511M	31.73M	635M	737M	652M
EBITA	390M	-80.4M	531M	646M	558M
EBIT	372M	-94.7M	519M	632M	550M
EBITDAR	514M	35.53M	638M	741M	656M
Effective Tax Rate - (Ratio)	-4	1.78	2.78	4.39	5.42
Total Current Taxes	13.64M	3.63M	18.34M	25.04M	20.46M
Total Deferred Taxes	-23.62M	-7.72M	-965K	-151K	10.15M
Normalized Net Income	208M	-89.52M	307M	372M	294M
Interest Capitalized	1.3M	1.6M	1.6M	2.3M	6.8M
Interest on Long-Term Debt	33.1M	35.03M	19.17M	31.02M	63.59M
Non-Cash Pension Expense	35.26M	40.14M	22.78M	28.91M	46.71M
Supplemental Operating Expense Items
Selling and Marketing Expenses	-	-	-	-	-
General and Administrative Expenses	-	-	-	-	-
Net Rental Expense, Total	3.4M	3.8M	3.3M	3.8M	3.2M
Imputed Operating Lease Interest Expense	1.09M	1.03M	551K	1.06M	1.53M
Imputed Operating Lease Depreciation	2.31M	2.77M	2.75M	2.74M	1.67M
Stock-Based Comp., SG&A Exp. (Total)	2M	1.9M	2.6M	2.6M	2.2M
Stock-Based Comp., Other (Total)	16.1M	2M	37.4M	32.2M	26.8M
Total Stock-Based Compensation	18.1M	3.9M	40M	34.8M	29M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	64.13M	505M	179M	150M	89.64M
Short Term Investments	45.95M	88.78M	70M	48.27M	45.14M
Trading Asset Securities, Total	3.68M	-	-	-	-
Total Cash And Short Term Investments	114M	594M	249M	199M	135M
Accounts Receivable, Total	321M	196M	330M	249M	412M
Other Receivables	-	4.63M	12.8M	-	-
Total Receivables	321M	201M	343M	249M	412M
Inventory	1.05B	728M	774M	1.23B	1.09B
Prepaid Expenses	21.3M	16.38M	18.11M	29.77M	35.02M
Other Current Assets, Total	6.14M	4.95M	62.76M	23.76M	15.8M
Total Current Assets	1.51B	1.54B	1.45B	1.73B	1.69B
Gross Property Plant And Equipment	2.13B	2.04B	2.16B	2.35B	2.48B
Accumulated Depreciation	-1.06B	-1.09B	-1.08B	-1.16B	-1.23B
Net Property Plant And Equipment	1.07B	956M	1.08B	1.19B	1.26B
Goodwill	228M	207M	284M	272M	272M
Other Intangibles, Total	384M	290M	307M	230M	261M
Deferred Tax Assets Long-Term	9.92M	17.69M	17.73M	16M	23.97M
Other Long-Term Assets, Total	6.73M	6M	3.76M	2.51M	14.31M
Total Assets	3.21B	3.02B	3.14B	3.44B	3.51B
Liabilities
Accounts Payable, Total	348M	290M	404M	381M	323M
Accrued Expenses, Total	7.64M	8.53M	13.58M	10.66M	13.88M
Short-term Borrowings	39.6M	27.6M	18.1M	26.9M	12.5M
Current Portion of Long-Term Debt	2.06M	10.94M	4.03M	150M	300M
Current Portion of Leases	14.52M	15.88M	15.29M	13.83M	14.16M
Current Income Taxes Payable	1.26M	-	7.91M	6.64M	1.64M
Other Current Liabilities	9.01M	6.71M	268K	53.1M	58.52M
Total Current Liabilities	422M	360M	464M	642M	724M
Long-Term Debt	845M	1B	600M	780M	685M
Long-Term Leases	66.98M	66.58M	93.81M	80.16M	83.9M
Pension & Other Post Retirement Benefits	31.4M	23.62M	46.67M	45.51M	35.23M
Deferred Tax Liability Non Current	-	-	-	-	18.12M
Other Non Current Liabilities	10.79M	12.24M	13.19M	10.71M	11.08M
Total Liabilities	1.38B	1.46B	1.22B	1.56B	1.56B
Common Stock, Total	174M	184M	192M	202M	271M
Additional Paid In Capital	32.77M	24.94M	58.13M	79.49M	61.36M
Retained Earnings	1.63B	1.36B	1.6B	1.59B	1.61B
Comprehensive Income and Other	-535K	-9.04M	64.81M	9.84M	13.65M
Total Common Equity	1.83B	1.56B	1.92B	1.88B	1.96B
Total Equity	1.83B	1.56B	1.92B	1.88B	1.96B
Total Liabilities And Equity	3.21B	3.02B	3.14B	3.44B	3.51B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	199M	198M	190M	180M	169M
ECS Total Common Shares Outstanding	199M	198M	192M	180M	170M
Book Value / Share	9.22	7.86	9.98	10.47	11.52
Tangible Book Value	1.22B	1.06B	1.33B	1.38B	1.42B
Tangible Book Value Per Share	6.14	5.35	6.91	7.68	8.38
Total Debt	968M	1.12B	731M	1.05B	1.1B
Net Debt	854M	527M	482M	852M	961M
Debt Equivalent of Unfunded Proj. Benefit Obligation	27.77M	19.89M	42.93M	42.13M	31M
Debt Equivalent Oper. Leases	27.2M	30.4M	26.4M	30.4M	25.6M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	153M	124M	183M	252M	166M
Inventories - Work In Process, Total	75.54M	42.59M	53.48M	77.73M	57.94M
Inventories - Finished Goods, Total	824M	561M	538M	897M	866M
Land - (BS)	120M	124M	127M	131M	130M
Buildings, Total	559M	571M	583M	591M	601M
Machinery, Total	1.32B	1.25B	1.28B	1.38B	1.49B
Full Time Employees	53K	44K	48K	51K	43K
Accumulated Allowance for Doubtful Accounts (Supple)	7.18M	18.99M	13.7M	15.39M	11.16M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	260M	-225M	607M	542M	534M
Depreciation & Amortization - CF	134M	127M	117M	106M	108M
Amortization of Goodwill and Intangible Assets - (CF)	17.29M	14.3M	12.82M	13.76M	8.28M
Depreciation & Amortization, Total	152M	141M	130M	120M	116M
Amortization of Deferred Charges, Total - (CF)	5.21M	6.1M	5.26M	5.4M	5.57M
(Gain) Loss From Sale Of Asset	1.4M	25.91M	-	-34.2M	-24.58M
Asset Writedown & Restructuring Costs	13.06M	118M	-28.32M	59.03M	-22.63M
Stock-Based Compensation (CF)	16.27M	2.09M	37.66M	32.39M	26.96M
Other Operating Activities, Total	-11.98M	4.69M	-37.67M	-3.11M	-3.9M
Change In Accounts Receivable	-3.52M	125M	-135M	77.94M	-162M
Change In Inventories	-115M	320M	-33.74M	-449M	143M
Change In Accounts Payable	49.62M	-62.48M	78.5M	35.46M	-58.99M
Change In Income Taxes	2.97M	-5.75M	12.58M	-1.57M	-4.84M
Change in Other Net Operating Assets	-8.32M	-34.8M	-18.96M	29.92M	-1.96M
Cash from Operations	361M	415M	618M	413M	547M
Capital Expenditure	-129M	-50.67M	-127M	-239M	-203M
Sale of Property, Plant, and Equipment	5.78M	830K	-	35.8M	-
Cash Acquisitions	-1.3M	-	-164M	-	-
Divestitures	-	-	-	-57K	-
Sale (Purchase) of Intangible assets	-11.56M	-7.67M	-2.77M	-5.43M	-4.72M
Other Investing Activities, Total	-	-	106M	26.41M	53.15M
Cash from Investing	-136M	-57.51M	-188M	-182M	-155M
Long-Term Debt Issued, Total	176M	400M	-	330M	300M
Total Debt Issued	176M	400M	-	330M	300M
Long-Term Debt Repaid, Total	-13.53M	-260M	-421M	-16.56M	-270M
Total Debt Repaid	-13.53M	-260M	-421M	-16.56M	-270M
Issuance of Common Stock	10.32M	2.85M	9.43M	14.97M	55.09M
Repurchase of Common Stock	-270M	-28.34M	-252M	-463M	-406M
Common Dividends Paid	-110M	-30.55M	-90.46M	-124M	-132M
Common & Preferred Stock Dividends Paid	-110M	-30.55M	-90.46M	-124M	-132M
Cash from Financing	-208M	83.54M	-755M	-258M	-453M
Foreign Exchange Rate Adjustments	-6K	80K	-942K	-1.64M	259K
Net Change in Cash	17.47M	441M	-326M	-28.83M	-60.78M
Supplemental Items
Cash Interest Paid	33.15M	35.65M	22.2M	29.98M	66.4M
Cash Income Tax Paid (Refund)	10.8M	9.32M	5.74M	26.53M	24.34M
Levered Free Cash Flow	183M	401M	232M	-21.21M	172M
Unlevered Free Cash Flow	203M	423M	243M	-3.23M	208M
Change In Net Working Capital	64.14M	-389M	127M	314M	78.01M
Net Debt Issued / Repaid	162M	140M	-421M	313M	30.11M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	7.49	-1.9	10.53	12.02	9.88
Return on Total Capital	8.55	-2.16	12.16	14.17	11.48
Return On Equity %	13.78	-13.28	34.91	28.49	27.79
Return on Common Equity	13.78	-13.28	34.91	28.49	27.79
Margin Analysis
Gross Profit Margin %	26.22	9.74	28.41	29.58	27.54
SG&A Margin	12.06	13.74	10.75	10	10.34
EBITDA Margin %	18.08	1.6	21.72	22.74	20.41
EBITA Margin %	13.8	-4.06	18.19	19.94	17.46
EBIT Margin %	13.18	-4.78	17.75	19.51	17.2
Income From Continuing Operations Margin %	9.2	-11.37	20.78	16.71	16.7
Net Income Margin %	9.2	-11.37	20.78	16.71	16.7
Net Avail. For Common Margin %	9.2	-11.37	20.78	16.71	16.7
Normalized Net Income Margin	7.37	-4.52	10.51	11.48	9.19
Levered Free Cash Flow Margin	6.49	20.26	7.93	-0.65	5.39
Unlevered Free Cash Flow Margin	7.2	21.32	8.31	-0.1	6.51
Asset Turnover
Asset Turnover	0.91	0.64	0.95	0.99	0.92
Fixed Assets Turnover	2.74	1.96	2.87	2.85	2.61
Receivables Turnover (Average Receivables)	8.85	7.66	11.1	11.2	9.67
Inventory Turnover (Average Inventory)	2.09	2.01	2.79	2.28	2
Short Term Liquidity
Current Ratio	3.58	4.29	3.12	2.69	2.33
Quick Ratio	1.03	2.21	1.28	0.7	0.76
Operating Cash Flow to Current Liabilities	0.85	1.15	1.33	0.64	0.75
Days Sales Outstanding (Average Receivables)	41.12	48.44	32.78	32.51	37.66
Days Outstanding Inventory (Average Inventory)	174.02	184.65	130.68	159.54	181.96
Average Days Payable Outstanding	52.99	80.86	59.09	49.03	58.79
Cash Conversion Cycle (Average Days)	162.15	152.23	104.37	143.01	160.83
Long Term Solvency
Total Debt/Equity	52.78	71.91	38.1	55.83	55.97
Total Debt / Total Capital	34.54	41.83	27.59	35.83	35.88
LT Debt/Equity	49.71	68.42	36.15	45.7	39.28
Long-Term Debt / Total Capital	32.54	39.8	26.18	29.33	25.18
Total Liabilities / Total Assets	42.87	48.4	38.81	45.29	44.31
EBIT / Interest Expense	11.6	-2.81	29.26	21.98	9.61
EBITDA / Interest Expense	16.33	1.38	36.6	26.14	11.64
(EBITDA - Capex) / Interest Expense	12.32	-0.13	29.41	17.82	8.08
Total Debt / EBITDA	1.85	24.17	1.13	1.4	1.65
Net Debt / EBITDA	1.63	11.36	0.74	1.13	1.44
Total Debt / (EBITDA - Capex)	2.45	-261.67	1.4	2.05	2.37
Net Debt / (EBITDA - Capex)	2.16	-123.01	0.92	1.66	2.08
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-2.91	-29.84	47.51	10.88	-1.38