Discounted Cash Flow (DCF) Analysis Unlevered

Hanesbrands Inc. (HBI)
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 | - |