Gildan Activewear Inc. (GIL) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+16.3%

$47.64

vs $40.96 price

Levered DCF

$29.50

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.71

Distress zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	23.65×	18.81×	10.91×	9.32×	13.82×	-24×	22.74×	18.29×
P/B	2.7×	5.18×	2.99×	2.68×	4.37×	3.48×	3.29×	3.31×
P/S	2.61×	2.31×	1.82×	1.56×	2.87×	2.74×	2.14×	2.21×
EV / EBITDA	18.68×	12.33×	9.19×	8.22×	11.48×	-123.78×	15.72×	11.82×
Gross margin	30.2%	30.7%	27.5%	30.6%	32.2%	12.6%	24.9%	27.7%
Operating margin	19.8%	18.9%	20.1%	18.6%	22.3%	-9.1%	10.2%	13.9%
Net margin	11.0%	12.3%	16.7%	16.7%	20.8%	-11.4%	9.2%	12.1%
Current ratio	2.11×	2.22×	2.34×	2.69×	3.12×	4.29×	3.58×	3.99×
Debt / equity	1.37×	1.13×	0.56×	0.54×	0.38×	0.69×	0.51×	0.35×
Interest coverage	5.98×	5.74×	8.82×	17.88×	24.78×	-3.76×	7.23×	14.16×
Dividend yield	1.4%	1.8%	2.3%	2.5%	1.1%	0.6%	1.9%	1.5%
Payout ratio	33.9%	33.3%	24.7%	22.9%	14.9%	-13.6%	43.5%	27.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.4%	27.5%	27.4%	28.8%	31.6%	-14.5%	14.2%	18.1%
Return on invested capital	7.0%	15.1%	19.6%	19.2%	23.5%	-6.6%	10.2%	14.3%
Return on assets	3.9%	10.8%	15.3%	15.6%	19.4%	-7.4%	8.0%	11.7%
Free cash flow yield	5.0%	4.7%	5.8%	3.3%	5.8%	6.6%	3.7%	6.4%
Earnings yield	4.2%	5.3%	9.2%	10.7%	7.2%	-4.2%	4.3%	5.5%
Enterprise value	$14.2B	$9.1B	$6.8B	$5.9B	$8.9B	$6B	$6.9B	$7B
Net debt / EBITDA	6.05×	2.11×	1.35×	1.21×	0.7×	-11.9×	1.97×	1.05×
Cash conversion cycle (days)	256	165	158	154	118	124	156	147