NYSE : GIL
Gildan Activewear Inc. — Financial statements
Consumer Discretionary · Apparel Manufacturing · Canada
Last price 40.66 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 7.52B
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Financial statements
Gildan Activewear Inc. (GIL) reported revenue of 4.74B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 4.74B | 3.62B | 3.27B | 3.20B | 3.24B | 2.92B |
| Cost of Revenue | 3.15B | 2.45B | 2.27B | 2.32B | 2.28B | 2.09B |
| Gross Profit | 1.58B | 1.17B | 1.00B | 876.95M | 959.51M | 830.21M |
| Selling, General & Admin | 630.38M | 386.55M | 308.07M | 324.09M | 326.26M | 314.17M |
| Operating Expenses | 630.38M | 386.55M | 308.07M | 324.09M | 326.26M | 311.55M |
| Operating Income | 953.59M | 778.72M | 695.61M | 552.86M | 633.25M | 518.65M |
| Interest Expense | -179.73M | -117.84M | -85.45M | -57.20M | -28.76M | -17.73M |
| Currency Exchange Gain (Loss) | 335.00K | 2.41M | 3.51M | -153.00K | 2.33M | -782.00K |
| Other Non Operating Income (Expenses) | -48.00M | -36.79M | -22.21M | -22.31M | -10.52M | -8.82M |
| EBT Excluding Unusual Items | 727.20M | 626.50M | 591.46M | 473.19M | 596.30M | 491.32M |
| Merger & Restructuring Charges | -485.77M | -155.98M | 5.33M | -45.76M | -480.00K | -17.23M |
| Gain (Loss) on Sale of Assets | 25.01M | |||||
| Asset Writedown | 40.77M | -62.29M | 31.46M | |||
| Other Unusual Items | 1.07M | 675.00K | -82.70M | -6.30M | 18.30M | |
| Pretax Income | 242.51M | 471.19M | 514.09M | 564.18M | 566.43M | 624.56M |
| Income Tax Expense | 35.84M | 77.26M | 113.22M | 30.60M | 24.89M | 17.38M |
| Earnings From Continuing Operations | 206.67M | 393.94M | 400.87M | 533.58M | 541.54M | 607.18M |
| Earnings From Discontinued Operations | -146.15M | 4.94M | ||||
| Net Income | 60.52M | 398.88M | 400.87M | 533.58M | 541.54M | 607.18M |
| Net Income to Common | 60.52M | 398.88M | 400.87M | 533.58M | 541.54M | 607.18M |
| Shares Outstanding (Basic) | 169.93M | 153.00M | 162.93M | 175.94M | 184.13M | 197.01M |
| Shares Outstanding (Diluted) | 169.97M | 153.07M | 163.18M | 176.22M | 184.53M | 197.59M |
| EPS (Basic) | 0.36 | 2.61 | 2.46 | 3.03 | 2.94 | 3.08 |
| EPS (Diluted) | 0.35 | 2.60 | 2.46 | 3.03 | 2.93 | 3.07 |
| Free Cash Flow | 528.66M | 499.88M | 356.06M | 343.32M | 174.36M | 490.05M |
| Free Cash Flow Per Share | 3.11 | 3.27 | 2.18 | 1.95 | 0.94 | 2.48 |
| Dividend Per Share | 0.95 | 0.90 | 0.82 | 0.74 | 0.68 | 0.46 |
| Gross Margin | 33.43% | 32.20% | 30.69% | 27.44% | 29.61% | 28.41% |
| Operating Margin | 20.13% | 21.52% | 21.27% | 17.30% | 19.54% | 17.75% |
| Profit Margin | 1.28% | 11.02% | 12.26% | 16.70% | 16.71% | 20.78% |
| Free Cash Flow Margin | 11.16% | 13.81% | 10.89% | 10.74% | 5.38% | 16.77% |
| EBITDA | 1.11B | 902.26M | 814.55M | 655.58M | 738.01M | 634.83M |
| EBITDA Margin | 23.41% | 24.93% | 24.91% | 20.51% | 22.78% | 21.72% |
| D&A For EBITDA | 155.69M | 123.54M | 118.94M | 102.72M | 104.75M | 116.17M |
| EBIT | 953.59M | 778.72M | 695.61M | 552.86M | 633.25M | 518.65M |
| EBIT Margin | 20.13% | 21.52% | 21.27% | 17.30% | 19.54% | 17.75% |
| Effective Tax Rate | 14.78% | 16.40% | 22.02% | 5.42% | 4.39% | 2.78% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 268.30M | 284.46M | 98.80M | 89.64M | 150.42M | 179.25M |
| Short-Term Investments | 118.40M | 69.23M | 56.78M | 45.14M | 48.27M | 70.00M |
| Cash & Short-Term Investments | 386.70M | 353.69M | 155.58M | 134.78M | 198.69M | 249.24M |
| Accounts Receivable | 1.08B | 955.67M | 542.36M | 412.50M | 248.78M | 329.97M |
| Other Receivables | 37.50M | |||||
| Receivables | 1.11B | 955.67M | 542.36M | 412.50M | 248.78M | 329.97M |
| Inventory | 2.17B | 2.37B | 1.11B | 1.09B | 1.23B | 774.36M |
| Prepaid Expenses | 26.77M | 67.54M | 38.07M | 35.02M | 29.77M | 30.91M |
| Other Current Assets | 836.50M | 962.81M | 12.11M | 15.80M | 23.77M | 62.76M |
| Total Current Assets | 4.53B | 4.71B | 1.86B | 1.69B | 1.73B | 1.45B |
| Property, Plant & Equipment | 1.57B | 1.70B | 1.27B | 1.26B | 1.19B | 1.08B |
| Goodwill | 844.79M | 868.85M | 271.68M | 271.68M | 271.68M | 283.81M |
| Other Intangible Assets | 2.99B | 3.02B | 253.32M | 261.42M | 229.95M | 306.63M |
| Long-Term Deferred Tax Assets | 20.98M | 22.95M | 21.80M | 23.97M | 16.00M | 17.73M |
| Other Long-Term Assets | 98.97M | 139.68M | 40.83M | 14.31M | 2.51M | 3.76M |
| Total Assets | 10.06B | 10.47B | 3.72B | 3.51B | 3.44B | 3.14B |
| Accounts Payable | 876.14M | 1.02B | 398.27M | 323.40M | 380.55M | 355.89M |
| Accrued Expenses | 400.00K | 21.03M | 18.89M | 13.88M | 10.66M | 13.58M |
| Short-Term Debt | 78.90M | 78.10M | 11.60M | 12.50M | 26.90M | 18.10M |
| Current Portion of Long-Term Debt | 945.18M | 450.00M | 300.00M | 300.00M | 150.00M | -4.03M |
| Current Portion of Leases | 57.60M | 59.76M | 17.75M | 14.16M | 13.83M | 15.29M |
| Current Income Taxes Payable | 31.50M | 80.76M | 29.67M | 1.64M | 6.64M | 7.91M |
| Other Current Liabilities | 358.44M | 525.58M | 61.31M | 58.52M | 53.10M | 56.86M |
| Total Current Liabilities | 2.35B | 2.24B | 837.49M | 724.09M | 641.67M | 463.60M |
| Long-Term Debt | 3.59B | 3.86B | 1.24B | 685.00M | 780.00M | 600.00M |
| Long-Term Leases | 264.81M | 254.74M | 99.67M | 83.90M | 80.16M | 93.81M |
| Pension & Post-Retirement Benefits | 104.83M | 118.41M | 37.67M | 35.23M | 45.51M | 46.67M |
| Long-Term Deferred Tax Liabilities | 364.61M | 401.10M | 28.63M | 18.12M | ||
| Other Long-Term Liabilities | 47.66M | 29.43M | 19.14M | 11.08M | 10.71M | 13.19M |
| Total Liabilities | 6.72B | 6.90B | 2.26B | 1.56B | 1.56B | 1.22B |
| Common Stock | 2.31B | 2.30B | 268.56M | 271.21M | 202.33M | 191.73M |
| Additional Paid-In Capital | 76.01M | 112.78M | 69.92M | 61.36M | 79.49M | 58.13M |
| Retained Earnings | 902.37M | 1.17B | 1.12B | 1.61B | 1.59B | 1.60B |
| Comprehensive Income & Other | 47.76M | -20.29M | -27.00K | 13.65M | 9.85M | 64.81M |
| Shareholders' Equity | 3.34B | 3.56B | 1.46B | 1.96B | 1.88B | 1.92B |
| Total Liabilities & Equity | 10.06B | 10.47B | 3.72B | 3.51B | 3.44B | 3.14B |
| Total Debt | 4.93B | 4.71B | 1.66B | 1.10B | 1.05B | 723.18M |
| Net Cash (Debt) | -4.55B | -4.35B | -1.51B | -960.78M | -852.20M | -473.94M |
| Net Cash Per Share | -26.74 | -28.44 | -9.25 | -5.45 | -4.62 | -2.40 |
| Filing Date Shares Outstanding | 185.19M | 185.18M | 151.85M | 168.66M | 179.72M | 190.09M |
| Total Common Shares Outstanding | 185.19M | 185.15M | 152.41M | 169.99M | 179.71M | 192.27M |
| Working Capital | 2.18B | 2.47B | 1.02B | 963.45M | 1.09B | 983.63M |
| Book Value Per Share | 18.04 | 19.24 | 9.56 | 11.52 | 10.47 | 9.98 |
| Tangible Book Value | -497.15M | -328.04M | 931.65M | 1.42B | 1.38B | 1.33B |
| Tangible Book Value Per Share | -2.68 | -1.77 | 6.11 | 8.38 | 7.68 | 6.91 |
| Land | 173.94M | 128.91M | 129.57M | 130.94M | 127.07M | |
| Buildings | 767.48M | 650.53M | 601.49M | 591.30M | 582.64M | |
| Machinery | 1.84B | 1.61B | 1.49B | 1.38B | 1.28B | |
| Construction In Progress | 47.06M | 57.71M | 185.25M | 172.75M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 60.52M | 398.88M | 400.87M | 533.58M | 541.54M | 607.18M |
| Depreciation & Amortization | 190.38M | 142.20M | 133.07M | 116.08M | 119.53M | 130.14M |
| Other Amortization | 8.30M | 5.37M | 5.14M | 5.57M | 5.40M | 5.26M |
| Loss (Gain) From Sale of Assets | 5.18M | 4.16M | -212.00K | -24.58M | -34.20M | -43.66M |
| Asset Writedown & Restructuring Costs | 100.90M | 22.06M | -10.95M | -22.63M | 59.03M | -28.32M |
| Stock-Based Compensation | 50.92M | 47.95M | 49.13M | 26.96M | 32.39M | 37.66M |
| Other Operating Activities | 2.75M | -3.12M | -9.73M | -3.90M | -3.11M | 5.99M |
| Change in Accounts Receivable | -32.84M | -87.33M | -134.37M | -161.89M | 77.94M | -135.10M |
| Change in Inventory | 232.14M | -117.17M | -20.82M | 143.22M | -448.84M | -33.74M |
| Change in Accounts Payable | -118.21M | 153.67M | 73.12M | -58.99M | 35.46M | 78.50M |
| Change in Income Taxes | -42.73M | 10.58M | 27.59M | -4.84M | -1.57M | 12.58M |
| Change in Other Net Operating Assets | 5.39M | 29.07M | -11.44M | -1.96M | 29.91M | -18.96M |
| Operating Cash Flow | 628.32M | 606.32M | 501.39M | 546.61M | 413.49M | 617.51M |
| Capital Expenditures | -99.66M | -106.44M | -145.33M | -203.29M | -239.13M | -127.46M |
| Sale of Property, Plant & Equipment | -169.00K | 35.80M | ||||
| Cash Acquisitions | -122.72M | -122.72M | -163.97M | |||
| Divestitures | -21.95M | -57.00K | ||||
| Sale (Purchase) of Intangibles | -7.88M | -7.37M | -5.02M | -4.72M | -5.43M | -2.77M |
| Other Investing Activities | 521.00K | 521.00K | 38.24M | 53.15M | 26.41M | 106.36M |
| Investing Cash Flow | -251.85M | -236.00M | -112.12M | -154.86M | -182.40M | -187.83M |
| Long-Term Debt Issued | 3.03B | 800.00M | 300.00M | 330.00M | ||
| Total Debt Issued | 2.96B | 3.03B | 800.00M | 300.00M | 330.00M | |
| Long-Term Debt Repaid | -2.76B | -250.24M | -269.89M | -16.56M | -421.47M | |
| Lease Payments | -64.85M | -25.66M | -15.24M | -24.89M | -16.56M | -21.47M |
| Net Debt Issued (Repaid) | 214.83M | 265.12M | 549.76M | 30.11M | 313.44M | -421.47M |
| Issuance of Common Stock | 1.77M | 10.07M | 6.87M | 55.09M | 14.97M | 9.43M |
| Repurchase of Common Stock | -179.94M | -251.89M | -802.50M | -406.18M | -462.91M | -252.24M |
| Common Dividends Paid | -159.17M | -135.24M | -133.47M | -131.80M | -123.77M | -90.46M |
| Other Financing Activities | -63.42M | -65.12M | ||||
| Financing Cash Flow | -185.92M | -177.06M | -379.35M | -452.78M | -258.27M | -754.75M |
| Foreign Exchange Rate Adjustments | 1.74M | 2.91M | -764.00K | 259.00K | -1.64M | -942.00K |
| Net Cash Flow | 192.29M | 196.16M | 9.16M | -60.77M | -28.83M | -326.02M |
| Free Cash Flow | 528.66M | 499.88M | 356.06M | 343.32M | 174.36M | 490.05M |
| Free Cash Flow Margin | 11.16% | 13.81% | 10.89% | 10.74% | 5.38% | 16.77% |
| Free Cash Flow Per Share | 3.11 | 3.27 | 2.18 | 1.95 | 0.94 | 2.48 |
| Levered Free Cash Flow | -807.12M | -1.02B | 383.57M | 174.41M | -20.58M | 239.76M |
| Unlevered Free Cash Flow | -694.79M | -942.67M | 436.98M | 210.16M | -2.61M | 250.84M |
| Free Cash Flow After Leases | 463.81M | 474.22M | 340.81M | 318.42M | 157.80M | 468.58M |
| Cash Interest Paid | 190.67M | 108.05M | 78.23M | 66.40M | 29.98M | 22.20M |
| Cash Income Tax Paid | 66.23M | 29.46M | 47.95M | 24.34M | 26.53M | 5.74M |
| Change in Working Capital | 43.75M | -11.18M | -65.92M | -84.47M | -307.09M | -96.74M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 7.35B | 11.70B | 7.22B | 5.65B | 4.92B | 8.22B |
| Enterprise Value | 11.98B | 13.42B | 8.61B | 6.65B | 5.84B | 8.53B |
| Last Close Price | 39.70 | 62.72 | 45.45 | 31.40 | 25.41 | 38.46 |
| PE Ratio | 111.06 | 29.33 | 18.02 | 10.59 | 9.08 | 13.54 |
| PS Ratio | 1.55 | 3.23 | 2.21 | 1.77 | 1.52 | 2.81 |
| PB Ratio | 2.20 | 3.29 | 4.96 | 2.89 | 2.61 | 4.28 |
| P/TBV Ratio | 7.75 | 3.97 | 3.56 | 6.19 | ||
| P/FCF Ratio | 13.91 | 23.41 | 20.29 | 16.46 | 28.21 | 16.78 |
| P/OCF Ratio | 11.70 | 19.30 | 14.41 | 10.34 | 11.90 | 13.32 |
| EV/Sales Ratio | 2.53 | 3.71 | 2.63 | 2.08 | 1.80 | 2.92 |
| EV/EBITDA Ratio | 10.80 | 14.87 | 10.57 | 10.15 | 7.92 | 13.44 |
| EV/EBIT Ratio | 12.56 | 17.23 | 12.37 | 12.04 | 9.22 | 16.45 |
| EV/FCF Ratio | 22.65 | 26.84 | 24.17 | 19.38 | 33.50 | 17.41 |
| Debt / Equity Ratio | 1.48 | 1.32 | 1.14 | 0.56 | 0.56 | 0.38 |
| Debt / EBITDA Ratio | 4.31 | 5.11 | 2.01 | 1.64 | 1.40 | 1.11 |
| Debt / FCF Ratio | 9.33 | 9.41 | 4.68 | 3.19 | 6.03 | 1.48 |
| Net Debt / Equity Ratio | 1.36 | 1.22 | 1.04 | 0.49 | 0.45 | 0.25 |
| Net Debt / EBITDA Ratio | 4.10 | 4.82 | 1.85 | 1.47 | 1.16 | 0.75 |
| Net Debt / FCF Ratio | 8.60 | 8.71 | 4.24 | 2.80 | 4.89 | 0.97 |
| Asset Turnover | 0.67 | 0.51 | 0.91 | 0.92 | 0.98 | 0.95 |
| Inventory Turnover | 1.86 | 1.41 | 2.06 | 2.00 | 2.28 | 2.79 |
| Quick Ratio | 0.64 | 0.59 | 0.83 | 0.76 | 0.70 | 1.25 |
| Current Ratio | 1.93 | 2.11 | 2.22 | 2.33 | 2.69 | 3.12 |
| Return on Equity (ROE) | 8.68% | 15.70% | 23.48% | 27.79% | 28.49% | 34.91% |
| Return on Assets (ROA) | 8.48% | 6.86% | 12.03% | 9.94% | 12.04% | 10.53% |
| Return on Invested Capital (ROIC) | 10.11% | 11.97% | 18.44% | 18.50% | 23.61% | 22.51% |
| Return on Capital Employed (ROCE) | 12.40% | 9.50% | 24.20% | 19.80% | 22.60% | 19.40% |
| Earnings Yield | 0.90% | 3.41% | 5.55% | 9.44% | 11.01% | 7.38% |
| FCF Yield | 7.19% | 4.27% | 4.93% | 6.07% | 3.54% | 5.96% |
| Dividend Yield | 2.51% | 1.43% | 1.73% | 2.24% | 2.47% | 1.08% |
| Payout Ratio | 278.41% | 33.90% | 33.30% | 24.70% | 22.86% | 14.90% |
| Buyback Yield / Dilution | -9.94% | 6.19% | 7.40% | 4.50% | 6.61% | 0.39% |
| Total Shareholder Return | -7.43% | 7.62% | 9.13% | 6.74% | 9.08% | 1.47% |