Discounted Cash Flow (DCF) Analysis Levered
Hanesbrands Inc. (HBI)
$11.855
+0.09 (+0.81%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 6,471.41 | 6,803.95 | 6,966.92 | 7,229.36 | 7,501.69 | 7,784.27 | 8,077.50 | 8,381.77 | 8,697.51 | 9,025.14 | 9,365.11 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | |||||||||||
| Operating Cash Flow | 655.72 | 643.40 | 803.43 | 749.95 | 778.20 | 807.51 | 837.93 | 869.50 | 902.25 | 936.24 | 971.50 |
| Operating Cash Flow (%) | |||||||||||
| Capital Expenditure | -87.01 | -86.29 | -101.08 | -97.93 | -101.62 | -105.44 | -109.41 | -113.54 | -117.81 | -122.25 | -126.86 |
| Capital Expenditure (%) | |||||||||||
| Free Cash Flow | 568.71 | 557.11 | 702.35 | 652.02 | 676.58 | 702.07 | 728.52 | 755.96 | 784.44 | 813.98 | 844.65 |
Weighted Average Cost Of Capital
| Share price | $ 11.855 |
|---|---|
| Beta | 1.471 |
| Diluted Shares Outstanding | 352.08 |
| Cost of Debt | |
| Tax Rate | 86.71 |
| After-tax Cost of Debt | 0.58% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.657 |
| Total Debt | 3,742.47 |
| Total Equity | 4,173.88 |
| Total Capital | 7,916.35 |
| Debt Weighting | 47.28 |
| Equity Weighting | 52.72 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 6,471.41 | 6,803.95 | 6,966.92 | 7,229.36 | 7,501.69 | 7,784.27 | 8,077.50 | 8,381.77 | 8,697.51 | 9,025.14 | 9,365.11 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 655.72 | 643.40 | 803.43 | 749.95 | 778.20 | 807.51 | 837.93 | 869.50 | 902.25 | 936.24 | 971.50 |
| Capital Expenditure | -87.01 | -86.29 | -101.08 | -97.93 | -101.62 | -105.44 | -109.41 | -113.54 | -117.81 | -122.25 | -126.86 |
| Free Cash Flow | 568.71 | 557.11 | 702.35 | 652.02 | 676.58 | 702.07 | 728.52 | 755.96 | 784.44 | 813.98 | 844.65 |
| WACC | |||||||||||
| PV LFCF | 687.04 | 676.58 | 666.29 | 656.15 | 646.17 | 636.34 | 626.66 | 617.13 | |||
| SUM PV LFCF | 3,353.35 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.37 |
| Free cash flow (t + 1) | 861.54 |
| Terminal Value | 25,564.98 |
| Present Value of Terminal Value | 19,681.60 |
Intrinsic Value
| Enterprise Value | 23,034.95 |
|---|---|
| Net Debt | 3,206.19 |
| Equity Value | 19,828.76 |
| Shares Outstanding | 352.08 |
| Equity Value Per Share | 56.32 |