Latest Ratios: P/E Ratio -7.1x · EV/EBITDA 16.6x · ROE -141.4%. (2003–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.3B | $2.9B | $1.6B | $2.2B | $5.9B | $5.1B | $5.4B | $4.4B | $7.7B | $8.3B | $11.9B |
| Enterprise Value | $4.6B | $5.2B | $5.0B | $6.3B | $9.1B | $8.7B | $9.0B | $8.0B | $11.3B | $11.6B | $14.2B |
| P/E Ratio → | -7.11 | — | — | — | 76.00 | — | 9.04 | 8.02 | 123.00 | 15.41 | 27.76 |
| P/S Ratio | 0.65 | 0.83 | 0.43 | 0.58 | 0.87 | 0.84 | 0.84 | 0.65 | 1.19 | 1.38 | 2.07 |
| P/B Ratio | 66.99 | 85.21 | 3.73 | 5.59 | 8.38 | 6.32 | 4.38 | 4.58 | 11.26 | 6.78 | 9.31 |
| P/FCF | 10.11 | 12.80 | 3.02 | — | 10.62 | 13.03 | 7.72 | 7.94 | 13.48 | 13.76 | 83.05 |
| P/OCF | 8.66 | 10.97 | 2.78 | — | 9.44 | 11.47 | 6.75 | 6.91 | 11.78 | 13.70 | 52.33 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.49 | 1.37 | 1.63 | 1.34 | 1.42 | 1.40 | 1.17 | 1.74 | 1.92 | 2.47 |
| EV / EBITDA | 16.64 | 18.83 | 13.41 | 16.83 | 9.99 | 49.76 | 9.16 | 7.99 | 13.12 | 12.96 | 20.29 |
| EV / EBIT | 24.88 | 37.79 | 21.79 | 24.27 | 12.16 | 395.90 | 10.95 | 8.64 | 16.01 | 15.99 | 23.97 |
| EV / FCF | — | 23.13 | 9.62 | — | 16.41 | 22.08 | 12.80 | 14.28 | 19.66 | 19.20 | 99.17 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.8% | 38.8% | 35.5% | 34.9% | 39.0% | 26.2% | 37.8% | 39.0% | 39.3% | 38.4% | 37.3% |
| Operating Margin | 5.3% | 5.3% | 7.3% | 6.9% | 11.7% | 0.7% | 13.2% | 12.8% | 11.4% | 13.1% | 10.4% |
| Net Profit Margin | -9.1% | -9.1% | -0.5% | -3.3% | 1.1% | -1.2% | 9.3% | 7.9% | 1.1% | 8.9% | 7.5% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -141.4% | -141.4% | -4.3% | -23.1% | 10.2% | -7.4% | 54.4% | 65.2% | 7.7% | 43.2% | 32.2% |
| ROA | -6.8% | -6.8% | -0.3% | -1.9% | 1.0% | -1.0% | 8.2% | 7.6% | 1.1% | 8.6% | 7.9% |
| ROIC | 4.5% | 4.5% | 4.8% | 4.8% | 14.4% | 0.7% | 13.7% | 14.9% | 12.6% | 14.7% | 13.3% |
| ROCE | 5.4% | 5.4% | 5.9% | 5.7% | 15.4% | 0.8% | 15.7% | 16.8% | 14.1% | 16.8% | 15.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 75.02 | 75.02 | 8.59 | 10.80 | 5.33 | 5.49 | 3.15 | 4.10 | 5.78 | 3.06 | 2.06 |
| Debt / EBITDA | 9.18 | 9.18 | 9.70 | 11.51 | 4.11 | 25.53 | 3.97 | 3.98 | 4.62 | 4.19 | 3.75 |
| Net Debt / Equity | — | 68.70 | 8.14 | 10.20 | 4.56 | 4.39 | 2.88 | 3.66 | 5.16 | 2.68 | 1.81 |
| Net Debt / EBITDA | 8.40 | 8.40 | 9.20 | 10.87 | 3.52 | 20.39 | 3.63 | 3.55 | 4.12 | 3.67 | 3.30 |
| Debt / FCF | — | 10.32 | 6.60 | — | 5.79 | 9.05 | 5.08 | 6.34 | 6.18 | 5.44 | 16.12 |
| Interest Coverage | 0.95 | 0.95 | 1.24 | 2.03 | 4.89 | 0.26 | 4.81 | 4.46 | 4.22 | 5.17 | 5.04 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.37 | 1.37 | 1.64 | 1.75 | 1.52 | 1.61 | 1.82 | 1.73 | 1.90 | 2.06 | 1.94 |
| Quick Ratio | 0.68 | 0.68 | 0.95 | 0.64 | 0.84 | 0.97 | 0.74 | 0.72 | 0.85 | 0.91 | 0.73 |
| Cash Ratio | 0.17 | 0.17 | 0.13 | 0.13 | 0.23 | 0.42 | 0.19 | 0.21 | 0.24 | 0.29 | 0.21 |
| Asset Turnover | — | 0.91 | 0.65 | 0.59 | 0.96 | 0.79 | 0.87 | 0.94 | 0.94 | 0.87 | 1.02 |
| Inventory Turnover | 2.47 | 2.47 | 2.45 | 1.27 | 2.62 | 3.31 | 2.10 | 2.02 | 2.12 | 2.04 | 1.98 |
| Days Sales Outstanding | — | 39.15 | 42.49 | 68.17 | 47.99 | 45.76 | 46.31 | 46.72 | 50.95 | 49.30 | 43.33 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | 9.4% | 3.6% | 4.1% | 4.0% | 4.9% | 2.8% | 2.0% | 1.4% |
| Payout Ratio | — | — | — | — | 271.3% | — | 36.1% | 40.1% | 297.6% | 31.0% | 37.6% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | 1.3% | — | 11.1% | 12.5% | 0.8% | 6.5% | 3.6% |
| FCF Yield | 9.9% | 7.8% | 33.1% | — | 9.4% | 7.7% | 13.0% | 12.6% | 7.4% | 7.3% | 1.2% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 1.1% | 0.0% | 3.9% | 0.0% | 0.0% | 5.2% | 4.6% | 3.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 10.5% | 3.6% | 8.0% | 4.0% | 4.9% | 8.0% | 6.6% | 4.3% |
| Shares Outstanding | — | $352M | $351M | $350M | $352M | $353M | $366M | $365M | $369M | $385M | $404M |
Excessive debt leverage
According to current market data, HBI trades at a forward P/E of 9.82, which, when contrasted with the lack of a trailing P/E, suggests that investors are pricing the company as a distressed turnaround candidate rather than a stable consumer staple peer like Gildan Activewear.
The valuation gap relative to peers indicates significant market skepticism regarding the company's ability to restore historical earnings power. Investors should monitor whether the forward multiple expands as deleveraging progresses, or if the current discount persists due to structural concerns regarding the brand's long-term relevance.
Based on reported financial statements, HBI's ROIC has remained consistently low, hovering between -1.3% and 4.5% over the last ten quarters, which suggests that the company is currently failing to generate returns that exceed its cost of capital in a meaningful or sustainable fashion.
The persistent decay in return on invested capital appears to be driven by both margin compression and an inefficient asset base that has not yet been fully rationalized. This trend warrants further investigation into whether the current manufacturing-heavy model can ever achieve the returns seen in more asset-light apparel competitors.
As reported in recent quarterly filings, HBI's cash conversion cycle has reached as high as 764 days, a figure that significantly lags industry norms and highlights the extreme difficulty the company faces in managing its inventory-heavy, vertically integrated supply chain during periods of weak retail demand.
The elevated days inventory outstanding, which peaked at 1,158 days in 2024Q1, suggests that the company is struggling to align production with actual sell-through at retail. This inefficiency ties up critical liquidity and forces the company to rely more heavily on debt to fund its ongoing operations.
According to the balance sheet, HBI's debt-to-equity ratio reached a staggering 75.02 in 2024Q4, a level that appears unsustainable and severely restricts the company's ability to invest in brand revitalization or respond to competitive threats without further compromising its already fragile financial position.
The high interest coverage volatility, with ratios dipping as low as 0.70, indicates that debt service is becoming increasingly burdensome relative to operating cash flow. Investors should monitor the company's ability to refinance upcoming maturities, as any disruption in credit access could necessitate further dilutive actions.
The P/E ratio is frequently misapplied to HBI, as the company's significant non-recurring restructuring charges and high interest expenses render GAAP earnings a poor proxy for the underlying cash-generating capability of the core apparel business model.
Analysts should instead focus on EV/EBITDA or free cash flow yields to better understand the company's operational health, as these metrics strip away the distortions caused by the current capital structure. Relying on P/E in this context may lead to an inaccurate assessment of the company's true valuation floor.
Includes 30+ ratios · 22 years · Updated daily
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Quick answers to the most common questions about buying HBI stock.
Hanesbrands Inc.'s current P/E ratio is -7.1x. The historical average is 30.3x.
Hanesbrands Inc.'s current EV/EBITDA is 16.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.5x.
Hanesbrands Inc.'s return on equity (ROE) is -141.4%. The historical average is 19.2%.
Based on historical data, Hanesbrands Inc. is trading at a P/E of -7.1x. Compare with industry peers and growth rates for a complete picture.
Hanesbrands Inc. has 38.8% gross margin and 5.3% operating margin.
Hanesbrands Inc.'s Debt/EBITDA ratio is 9.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.