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Discounted Cash Flow (DCF) Analysis Unlevered


Hanesbrands Inc.

Hanesbrands Inc. (HBI)

Consumer Cyclical

Operating Data

Year
A/P
2013
Actual
2014
Projected
2015
Projected
2016
Projected
2017
Projected
2018
Projected
2019
Projected
2020
Projected
2021
Projected
2022
Projected
2023
Projected
Revenue 4,627.80----------
Revenue (%)
EBITDA 588.66----------
EBITDA (%)
EBIT 497.95----------
EBIT (%)
Depreciation 90.70----------
Depreciation (%)

Balance Sheet Data

Year
A/P
2013
Actual
2014
Projected
2015
Projected
2016
Projected
2017
Projected
2018
Projected
2019
Projected
2020
Projected
2021
Projected
2022
Projected
2023
Projected
Total Cash 115.70----------
Total Cash (%)
Account Receivables 578.48----------
Account Receivables (%)
Inventories 1,283.29----------
Inventories (%)
Accounts Payable 466.48----------
Accounts Payable (%)
Capital Expenditure -43.50----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 15.08
Diluted Shares Outstanding 360.73
Cost of Debt
Tax Rate 14.50
After-tax Cost of Debt -0.67
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.97
Total Debt 3,534.18
Total Equity 5,439.85
Total Capital 8,974.03
Debt Weighting 39.38
Equity Weighting 60.62
Wacc

Build Up Free Cash

Year
A/P
2013
Actual
2014
Projected
2015
Projected
2016
Projected
2017
Projected
2018
Projected
2019
Projected
2020
Projected
2021
Projected
2022
Projected
2023
Projected
Revenue 4,627.80----------
EBITDA 588.66----------
EBIT 497.95----------
Tax Rate 16.50%27.68%13.00%5.97%88.43%14.50%27.68%27.68%27.68%27.68%27.68%
EBIAT 415.79----------
Depreciation 90.70----------
Accounts Receivable -----------
Inventories -----------
Accounts Payable -----------
Capital Expenditure -----------
UFCF 506.49----------
WACC
PV UFCF ----------
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.73
Free cash flow (t + 1) -
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -
Equity Value -
Shares Outstanding 360.73
Equity Value Per Share -