Cash flow Gildan Activewear Inc.

Equities

GIL

CA3759161035

Apparel & Accessories

Market Closed - Toronto S.E. Other stock markets 04:00:00 2025-07-07 pm EDT			5-day change	1st Jan Change
69.53 ^CAD	+0.71%		+3.99%	+2.78%

Jun. 19	Gildan Activewear Inc., Q1 2025 Earnings Call, Apr 29, 2025
Apr. 30	Toronto Stocks Retreat as March GDP Edges Higher; Gildan Activewear Up on 1Q Results, Outlook	DJ

480461ca.R0_mF-zGaBSEfw9bDNYJ9WgWqBD5PJBSWr9vJCHHRlk.DBunWpukImz9FGxsU-NclDxfx0-bStsZb_ZcFxKDJSsVCa5hrfAfLc9IZA

Published financial data: GILDAN ACTIVEWEAR INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	1.98B	2.92B	3.24B	3.2B	3.27B
Total Revenues	1.98B	2.92B	3.24B	3.2B	3.27B
Cost of Goods Sold, Total	1.79B	2.09B	2.28B	2.32B	2.27B
Gross Profit	193M	830M	959M	880M	1B
Selling General & Admin Expenses, Total	272M	314M	324M	330M	308M
Provision for Bad Debts	15.45M	-2.62M	2.15M	-	-
Other Operating Expenses, Total	288M	312M	326M	330M	308M
Operating Income	-94.7M	519M	632M	550M	696M
Interest Expense, Total	-33.67M	-17.73M	-28.76M	-57.2M	-85.45M
Net Interest Expenses	-33.67M	-17.73M	-28.76M	-57.2M	-85.45M
Currency Exchange Gains (Loss)	-229K	-782K	2.33M	-153K	3.51M
Other Non Operating Income (Expenses)	-14.63M	-8.82M	-10.52M	-22.31M	-22.21M
EBT, Excl. Unusual Items	-143M	491M	595M	470M	591M
Restructuring Charges	-96.95M	-17.22M	521K	-45.76M	5.33M
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	-82.7M
EBT, Incl. Unusual Items	-229M	625M	566M	564M	514M
Income Tax Expense	-4.09M	17.38M	24.89M	30.6M	113M
Earnings From Continuing Operations	-225M	607M	542M	534M	401M
Net Income to Company	-225M	607M	542M	534M	401M
Net Income - (IS)	-225M	607M	542M	534M	401M
Net Income to Common Incl Extra Items	-225M	607M	542M	534M	401M
Net Income to Common Excl. Extra Items	-225M	607M	542M	534M	401M
Per Share Items
Net EPS - Basic	-1.14	3.08	2.94	3.03	2.46
Basic EPS - Continuing Operations	-1.14	3.08	2.94	3.03	2.46
Basic Weighted Average Shares Outstanding	198M	197M	184M	176M	163M
Net EPS - Diluted	-1.14	3.07	2.93	3.03	2.46
Diluted EPS - Continuing Operations	-1.14	3.07	2.93	3.03	2.46
Diluted Weighted Average Shares Outstanding	198M	198M	185M	176M	163M
Normalized Basic EPS	-0.45	1.56	2.02	1.67	2.27
Normalized Diluted EPS	-0.45	1.55	2.02	1.67	2.27
Dividend Per Share	-	0.46	0.68	0.74	0.82
Payout Ratio	-13.56	14.9	22.86	24.7	33.3
Supplemental Items
EBITDA	31.73M	635M	737M	652M	815M
EBITA	-80.4M	531M	646M	558M	704M
EBIT	-94.7M	519M	632M	550M	696M
EBITDAR	35.53M	638M	741M	656M	818M
Effective Tax Rate - (Ratio)	1.78	2.78	4.39	5.42	22.02
Total Current Taxes	3.63M	18.34M	25.04M	20.46M	101M
Total Deferred Taxes	-7.72M	-965K	-151K	10.15M	12.66M
Normalized Net Income	-89.52M	307M	372M	294M	370M
Interest Capitalized	1.6M	1.6M	2.3M	6.8M	-
Interest on Long-Term Debt	35.03M	19.17M	31.02M	63.59M	85.02M
Non-Cash Pension Expense	40.14M	22.78M	28.91M	46.71M	23.26M
Supplemental Operating Expense Items
Selling and Marketing Expenses	-	-	-	-	-
General and Administrative Expenses	-	-	-	-	-
Net Rental Expense, Total	3.8M	3.3M	3.8M	3.2M	3.4M
Imputed Operating Lease Interest Expense	1.03M	551K	1.06M	1.53M	1.68M
Imputed Operating Lease Depreciation	2.77M	2.75M	2.74M	1.67M	1.72M
Stock-Based Comp., SG&A Exp. (Total)	1.9M	2.6M	2.6M	2.2M	5.1M
Stock-Based Comp., Other (Total)	2M	37.4M	32.2M	26.8M	64.3M
Total Stock-Based Compensation	3.9M	40M	34.8M	29M	69.4M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	505M	179M	150M	89.64M	98.8M
Short Term Investments	88.78M	70M	48.27M	45.14M	56.78M
Trading Asset Securities, Total	-	-	-	-	-
Total Cash And Short Term Investments	594M	249M	199M	135M	156M
Accounts Receivable, Total	196M	330M	249M	412M	542M
Other Receivables	4.63M	12.8M	-	-	-
Total Receivables	201M	343M	249M	412M	542M
Inventory	728M	774M	1.23B	1.09B	1.11B
Prepaid Expenses	16.38M	18.11M	29.77M	35.02M	38.07M
Other Current Assets, Total	4.95M	62.76M	23.76M	15.8M	12.11M
Total Current Assets	1.54B	1.45B	1.73B	1.69B	1.86B
Gross Property Plant And Equipment	2.04B	2.16B	2.35B	2.48B	2.55B
Accumulated Depreciation	-1.09B	-1.08B	-1.16B	-1.23B	-1.28B
Net Property Plant And Equipment	956M	1.08B	1.19B	1.26B	1.27B
Goodwill	207M	284M	272M	272M	272M
Other Intangibles, Total	290M	307M	230M	261M	253M
Deferred Tax Assets Long-Term	17.69M	17.73M	16M	23.97M	21.8M
Other Long-Term Assets, Total	6M	3.76M	2.51M	14.31M	40.83M
Total Assets	3.02B	3.14B	3.44B	3.51B	3.72B
Liabilities
Accounts Payable, Total	290M	404M	381M	323M	398M
Accrued Expenses, Total	8.53M	13.58M	10.66M	13.88M	18.89M
Short-term Borrowings	27.6M	18.1M	26.9M	12.5M	11.6M
Current Portion of Long-Term Debt	10.94M	4.03M	150M	300M	300M
Current Portion of Leases	15.88M	15.29M	13.83M	14.16M	17.75M
Current Income Taxes Payable	-	7.91M	6.64M	1.64M	29.67M
Other Current Liabilities	6.71M	268K	53.1M	58.52M	61.31M
Total Current Liabilities	360M	464M	642M	724M	837M
Long-Term Debt	1B	600M	780M	685M	1.24B
Long-Term Leases	66.58M	93.81M	80.16M	83.9M	99.67M
Pension & Other Post Retirement Benefits	23.62M	46.67M	45.51M	35.23M	37.67M
Deferred Tax Liability Non Current	-	-	-	18.12M	28.63M
Other Non Current Liabilities	12.24M	13.19M	10.71M	11.08M	19.14M
Total Liabilities	1.46B	1.22B	1.56B	1.56B	2.26B
Common Stock, Total	184M	192M	202M	271M	269M
Additional Paid In Capital	24.94M	58.13M	79.49M	61.36M	69.92M
Retained Earnings	1.36B	1.6B	1.59B	1.61B	1.12B
Comprehensive Income and Other	-9.04M	64.81M	9.84M	13.65M	-27K
Total Common Equity	1.56B	1.92B	1.88B	1.96B	1.46B
Total Equity	1.56B	1.92B	1.88B	1.96B	1.46B
Total Liabilities And Equity	3.02B	3.14B	3.44B	3.51B	3.72B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	198M	190M	180M	169M	152M
ECS Total Common Shares Outstanding	198M	192M	180M	170M	152M
Book Value / Share	7.86	9.98	10.47	11.52	9.56
Tangible Book Value	1.06B	1.33B	1.38B	1.42B	932M
Tangible Book Value Per Share	5.35	6.91	7.68	8.38	6.11
Total Debt	1.12B	731M	1.05B	1.1B	1.66B
Net Debt	527M	482M	852M	961M	1.51B
Debt Equivalent of Unfunded Proj. Benefit Obligation	19.89M	42.93M	42.13M	31M	32.4M
Debt Equivalent Oper. Leases	30.4M	26.4M	30.4M	25.6M	27.2M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	124M	183M	252M	166M	170M
Inventories - Work In Process, Total	42.59M	53.48M	77.73M	57.94M	65.4M
Inventories - Finished Goods, Total	561M	538M	897M	866M	875M
Land - (BS)	124M	127M	131M	130M	129M
Buildings, Total	571M	583M	591M	601M	651M
Machinery, Total	1.25B	1.28B	1.38B	1.49B	1.61B
Full Time Employees	44K	48K	51K	43K	50K
Accumulated Allowance for Doubtful Accounts (Supple)	18.99M	13.7M	15.39M	11.16M	11.06M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	-225M	607M	542M	534M	401M
Depreciation & Amortization - CF	127M	117M	106M	108M	125M
Amortization of Goodwill and Intangible Assets - (CF)	14.3M	12.82M	13.76M	8.28M	8.1M
Depreciation & Amortization, Total	141M	130M	120M	116M	133M
Amortization of Deferred Charges, Total - (CF)	6.1M	5.26M	5.4M	5.57M	5.14M
(Gain) Loss From Sale Of Asset	25.91M	-	-34.2M	-24.58M	-212K
Asset Writedown & Restructuring Costs	118M	-28.32M	59.03M	-22.63M	-10.95M
Stock-Based Compensation (CF)	2.09M	37.66M	32.39M	26.96M	49.13M
Other Operating Activities, Total	4.69M	-37.67M	-3.11M	-3.9M	-9.73M
Change In Accounts Receivable	125M	-135M	77.94M	-162M	-134M
Change In Inventories	320M	-33.74M	-449M	143M	-20.82M
Change In Accounts Payable	-62.48M	78.5M	35.46M	-58.99M	73.12M
Change In Income Taxes	-5.75M	12.58M	-1.57M	-4.84M	27.59M
Change in Other Net Operating Assets	-34.8M	-18.96M	29.92M	-1.96M	-11.44M
Cash from Operations	415M	618M	413M	547M	501M
Capital Expenditure	-50.67M	-127M	-239M	-203M	-145M
Sale of Property, Plant, and Equipment	830K	-	35.8M	-	-
Cash Acquisitions	-	-164M	-	-	-
Divestitures	-	-	-57K	-	-
Sale (Purchase) of Intangible assets	-7.67M	-2.77M	-5.43M	-4.72M	-5.02M
Other Investing Activities, Total	-	106M	26.41M	53.15M	38.24M
Cash from Investing	-57.51M	-188M	-182M	-155M	-112M
Long-Term Debt Issued, Total	400M	-	330M	300M	300M
Total Debt Issued	400M	-	330M	300M	300M
Long-Term Debt Repaid, Total	-260M	-421M	-16.56M	-270M	-250M
Total Debt Repaid	-260M	-421M	-16.56M	-270M	-250M
Issuance of Common Stock	2.85M	9.43M	14.97M	55.09M	507M
Repurchase of Common Stock	-28.34M	-252M	-463M	-406M	-803M
Common Dividends Paid	-30.55M	-90.46M	-124M	-132M	-133M
Common & Preferred Stock Dividends Paid	-30.55M	-90.46M	-124M	-132M	-133M
Cash from Financing	83.54M	-755M	-258M	-453M	-379M
Foreign Exchange Rate Adjustments	80K	-942K	-1.64M	259K	-764K
Net Change in Cash	441M	-326M	-28.83M	-60.78M	9.16M
Supplemental Items
Cash Interest Paid	35.65M	22.2M	29.98M	66.4M	78.23M
Cash Income Tax Paid (Refund)	9.32M	5.74M	26.53M	24.34M	47.95M
Levered Free Cash Flow	401M	232M	-21.21M	172M	399M
Unlevered Free Cash Flow	423M	243M	-3.23M	208M	452M
Change In Net Working Capital	-389M	127M	314M	78.01M	39.63M
Net Debt Issued / Repaid	140M	-421M	313M	30.11M	49.76M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	-1.9	10.53	12.02	9.88	12.03
Return on Total Capital	-2.16	12.16	14.17	11.48	14.08
Return On Equity %	-13.28	34.91	28.49	27.79	23.48
Return on Common Equity	-13.28	34.91	28.49	27.79	23.48
Margin Analysis
Gross Profit Margin %	9.74	28.41	29.58	27.54	30.69
SG&A Margin	13.74	10.75	10	10.34	9.42
EBITDA Margin %	1.6	21.72	22.74	20.41	24.91
EBITA Margin %	-4.06	18.19	19.94	17.46	21.52
EBIT Margin %	-4.78	17.75	19.51	17.2	21.27
Income From Continuing Operations Margin %	-11.37	20.78	16.71	16.7	12.26
Net Income Margin %	-11.37	20.78	16.71	16.7	12.26
Net Avail. For Common Margin %	-11.37	20.78	16.71	16.7	12.26
Normalized Net Income Margin	-4.52	10.51	11.48	9.19	11.3
Levered Free Cash Flow Margin	20.26	7.93	-0.65	5.39	12.2
Unlevered Free Cash Flow Margin	21.32	8.31	-0.1	6.51	13.83
Asset Turnover
Asset Turnover	0.64	0.95	0.99	0.92	0.9
Fixed Assets Turnover	1.96	2.87	2.85	2.61	2.59
Receivables Turnover (Average Receivables)	7.66	11.1	11.2	9.67	6.85
Inventory Turnover (Average Inventory)	2.01	2.79	2.28	2	2.06
Short Term Liquidity
Current Ratio	4.29	3.12	2.69	2.33	2.22
Quick Ratio	2.21	1.28	0.7	0.76	0.83
Operating Cash Flow to Current Liabilities	1.15	1.33	0.64	0.75	0.6
Days Sales Outstanding (Average Receivables)	48.44	32.78	32.51	37.66	53.14
Days Outstanding Inventory (Average Inventory)	184.65	130.68	159.54	181.96	176.63
Average Days Payable Outstanding	80.86	59.09	49.03	58.79	57.4
Cash Conversion Cycle (Average Days)	152.23	104.37	143.01	160.83	172.36
Long Term Solvency
Total Debt/Equity	71.91	38.1	55.83	55.97	114.3
Total Debt / Total Capital	41.83	27.59	35.83	35.88	53.34
LT Debt/Equity	68.42	36.15	45.7	39.28	91.69
Long-Term Debt / Total Capital	39.8	26.18	29.33	25.18	42.78
Total Liabilities / Total Assets	48.4	38.81	45.29	44.31	60.79
EBIT / Interest Expense	-2.81	29.26	21.98	9.61	8.14
EBITDA / Interest Expense	1.38	36.6	26.14	11.64	9.7
(EBITDA - Capex) / Interest Expense	-0.13	29.41	17.82	8.08	8
Total Debt / EBITDA	24.17	1.13	1.4	1.65	2.01
Net Debt / EBITDA	11.36	0.74	1.13	1.44	1.82
Total Debt / (EBITDA - Capex)	-261.67	1.4	2.05	2.37	2.44
Net Debt / (EBITDA - Capex)	-123.01	0.92	1.66	2.08	2.21
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-29.84	47.51	10.88	-1.38	2.34
Gross Profit, 1 Yr. Growth %	-73.93	329.58	15.45	-8.28	14.45
EBITDA, 1 Yr. Growth %	-93.79	1.89K	16.1	-11.6	24.25
EBITA, 1 Yr. Growth %	-120.64	-762.7	21.55	-13.77	25.41
EBIT, 1 Yr. Growth %	-125.43	-648.84	21.9	-13.2	25.82
Earnings From Cont. Operations, 1 Yr. Growth %	-186.71	-369.52	-10.81	-1.47	-24.87
Net Income, 1 Yr. Growth %	-186.71	-369.52	-10.81	-1.47	-24.87
Normalized Net Income, 1 Yr. Growth %	-142.99	-443.51	21.16	-21.18	24.99
Diluted EPS Before Extra, 1 Yr. Growth %	-189.76	-369.3	-4.56	3.41	-18.81
Accounts Receivable, 1 Yr. Growth %	-38.78	67.94	-24.6	65.8	31.48
Inventory, 1 Yr. Growth %	-30.8	6.37	58.32	-11.13	1.94
Net Property, Plant and Equip., 1 Yr. Growth %	-10.51	12.68	10.73	5.27	1.02
Total Assets, 1 Yr. Growth %	-5.92	3.83	9.68	2.17	5.7
Tangible Book Value, 1 Yr. Growth %	-13.12	25.1	3.88	3.17	-34.59
Common Equity, 1 Yr. Growth %	-15.02	23.13	-1.94	4	-25.58
Cash From Operations, 1 Yr. Growth %	14.96	48.79	-33.04	32.19	-8.27
Capital Expenditures, 1 Yr. Growth %	-60.62	151.54	87.61	-14.99	-28.51
Levered Free Cash Flow, 1 Yr. Growth %	119.18	-42.3	-108.85	-937.61	128.75
Unlevered Free Cash Flow, 1 Yr. Growth %	107.91	-42.55	-101.29	-8.09K	115.25
Dividend Per Share, 1 Yr. Growth %	-	-	46.32	10.06	10.22
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-17.47	1.73	27.89	4.57	0.46
Gross Profit, 2 Yr. CAGR %	-51.06	5.89	122.7	2.96	2.28
EBITDA, 2 Yr. CAGR %	-76.83	11.5	380.44	1.37	5.06
EBITA, 2 Yr. CAGR %	-58.21	16.8	183.82	2.46	4.29
EBIT, 2 Yr. CAGR %	-53.47	18.03	158.66	2.95	4.81
Earnings From Cont. Operations, 2 Yr. CAGR %	-19.86	52.87	55.04	-6.26	-13.96
Net Income, 2 Yr. CAGR %	-19.86	52.87	55.04	-6.26	-13.96
Normalized Net Income, 2 Yr. CAGR %	-40.63	21.44	104.01	-2.19	-0.41
Diluted EPS Before Extra, 2 Yr. CAGR %	-17.11	55.48	60.32	-0.65	-8.37
Accounts Receivable, 2 Yr. CAGR %	-21.29	1.4	12.53	11.81	47.65
Inventory, 2 Yr. CAGR %	-12	-14.21	29.77	18.61	-4.82
Net Property, Plant and Equip., 2 Yr. CAGR %	-1.74	0.42	11.7	7.96	3.12
Total Assets, 2 Yr. CAGR %	0.27	-1.17	6.71	5.86	3.92
Tangible Book Value, 2 Yr. CAGR %	-10.12	4.25	14	3.53	-17.85
Common Equity, 2 Yr. CAGR %	-10.27	2.29	9.88	0.99	-12.03
Cash From Operations, 2 Yr. CAGR %	-12.21	30.78	-0.19	-5.92	10.12
Capital Expenditures, 2 Yr. CAGR %	-31.39	-0.47	117.24	26.29	-22.04
Levered Free Cash Flow, 2 Yr. CAGR %	13.78	12.47	-77.02	-15.2	340.26
Unlevered Free Cash Flow, 2 Yr. CAGR %	13.88	9.3	-91.26	-8.9	1.22K
Dividend Per Share, 2 Yr. CAGR %	-	-8.84	-	26.9	10.14
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-10.36	0.16	4.69	17.28	3.82
Gross Profit, 3 Yr. CAGR %	-37.77	0.99	8.98	65.75	6.53
EBITDA, 3 Yr. CAGR %	-62.07	2.41	13.01	173.38	8.66
EBITA, 3 Yr. CAGR %	-43.45	4.91	18.36	90.9	9.81
EBIT, 3 Yr. CAGR %	-39.32	5.84	19.3	79.84	10.28
Earnings From Cont. Operations, 3 Yr. CAGR %	-14.65	20.07	27.74	33.3	-12.93
Net Income, 3 Yr. CAGR %	-14.65	20.07	27.74	33.3	-12.93
Normalized Net Income, 3 Yr. CAGR %	-28.97	6.53	21.35	48.67	6.38
Diluted EPS Before Extra, 3 Yr. CAGR %	-10.87	22.77	32.14	38.52	-7.12
Accounts Receivable, 3 Yr. CAGR %	-6.88	1.33	-8.14	28.05	18.02
Inventory, 3 Yr. CAGR %	-8.35	-6.26	5.23	14.38	12.77
Net Property, Plant and Equip., 3 Yr. CAGR %	-2.63	2.85	3.75	9.51	5.6
Total Assets, 3 Yr. CAGR %	0.45	1.44	2.32	5.18	5.8
Tangible Book Value, 3 Yr. CAGR %	-9.29	0.35	4.13	10.27	-11.17
Common Equity, 3 Yr. CAGR %	-8.74	-0.29	0.86	7.88	-8.79
Cash From Operations, 3 Yr. CAGR %	-12.21	4.67	4.63	9.61	-6.71
Capital Expenditures, 3 Yr. CAGR %	-18.02	5.79	22.94	58.9	4.47
Levered Free Cash Flow, 3 Yr. CAGR %	-1.05	-9.26	-51.26	-24.56	18.5
Unlevered Free Cash Flow, 3 Yr. CAGR %	-0.22	-9.34	-74.85	-21.03	21.72
Dividend Per Share, 3 Yr. CAGR %	-	-0.57	6.73	-	21.08
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-5.06	2.48	3.33	1.9	2.98
Gross Profit, 5 Yr. CAGR %	-22.43	2.9	3.65	1.77	6.27
EBITDA, 5 Yr. CAGR %	-42.23	4.04	4.86	2	9.79
EBITA, 5 Yr. CAGR %	-27.34	5.78	7.76	3.92	12.55
EBIT, 5 Yr. CAGR %	-24.22	6.24	8.32	4.67	13.32
Earnings From Cont. Operations, 5 Yr. CAGR %	-8.23	11.86	8.37	8.75	9.06
Net Income, 5 Yr. CAGR %	-8.23	11.86	8.37	8.75	9.06
Normalized Net Income, 5 Yr. CAGR %	-17.01	6.21	8.29	2.95	12.16
Diluted EPS Before Extra, 5 Yr. CAGR %	-4.24	15.87	12.72	12.8	14.14
Accounts Receivable, 5 Yr. CAGR %	-8.49	3.51	0.44	5.4	11.06
Inventory, 5 Yr. CAGR %	-3.08	-4.1	5.33	2.99	1.09
Net Property, Plant and Equip., 5 Yr. CAGR %	-1.75	0.01	2.87	4.86	3.5
Total Assets, 5 Yr. CAGR %	1.28	0.96	2.91	3.19	2.96
Tangible Book Value, 5 Yr. CAGR %	-8.55	-3.2	-0.61	1.61	-5.29
Common Equity, 5 Yr. CAGR %	-6.56	-1.97	-1.71	0.22	-4.51
Cash From Operations, 5 Yr. CAGR %	7.97	2.8	-7.58	0.3	6.79
Capital Expenditures, 5 Yr. CAGR %	-27.64	-0.3	21.06	13.56	2.46
Levered Free Cash Flow, 5 Yr. CAGR %	-	9.2	-44.81	-11.08	16.85
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	9.07	-62.32	-8.57	17.36
Dividend Per Share, 5 Yr. CAGR %	-	7.12	11.49	9.62	8.08