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Hanesbrands Piotroski F-Score

: 4 (As of Today)
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The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Hanesbrands has an F-score of 4 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Hanesbrands's Piotroski F-Score or its related term are showing as below:

NYSE:HBI' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 8
Current: 4

3
8

During the past 13 years, the highest Piotroski F-Score of Hanesbrands was 8. The lowest was 3. And the median was 6.


Hanesbrands Piotroski F-Score Historical Data

The historical data trend for Hanesbrands's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Hanesbrands Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 6.00 8.00 7.00 3.00

Hanesbrands Quarterly Data
Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 5.00 3.00 4.00 4.00

Competitive Comparison

For the Apparel Manufacturing subindustry, Hanesbrands's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Hanesbrands Piotroski F-Score Distribution

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Hanesbrands's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Hanesbrands's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jun21) TTM:Last Year (Jun20) TTM:
Net Income was 103.278 + -332.164 + -263.262 + 128.676 = $-363 Mil.
Cash Flow from Operations was 249.015 + 217.247 + 16.946 + 195.31 = $679 Mil.
Revenue was 1808.266 + 1800.843 + 1508.029 + 1751.311 = $6,868 Mil.
Gross Profit was 616.713 + 124.807 + 602.681 + 681.629 = $2,026 Mil.
Average Total Assets from the begining of this year (Jun20)
to the end of this year (Jun21) was
(8112.96 + 8159.684 + 7698.874 + 6989.253 + 7277.989) / 5 = $7647.752 Mil.
Total Assets at the begining of this year (Jun20) was $8,113 Mil.
Long-Term Debt & Capital Lease Obligation was $3,947 Mil.
Total Current Assets was $3,621 Mil.
Total Current Liabilities was $2,256 Mil.
Net Income was 185.091 + 184.986 + -7.874 + 161.181 = $523 Mil.

Revenue was 1866.967 + 1751.005 + 1203.07 + 1543.083 = $6,364 Mil.
Gross Profit was 717.033 + 706.743 + 418.168 + 513.862 = $2,356 Mil.
Average Total Assets from the begining of last year (Jun19)
to the end of last year (Jun20) was
(7876.892 + 7773.298 + 7353.986 + 7943.259 + 8112.96) / 5 = $7812.079 Mil.
Total Assets at the begining of last year (Jun19) was $7,877 Mil.
Long-Term Debt & Capital Lease Obligation was $4,348 Mil.
Total Current Assets was $4,032 Mil.
Total Current Liabilities was $2,002 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Hanesbrands's current Net Income (TTM) was -363. ==> Negative ==> Score 0.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Hanesbrands's current Cash Flow from Operations (TTM) was 679. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Jun20)
=-363.472/8112.96
=-0.0448014

ROA (Last Year)=Net Income/Total Assets (Jun19)
=523.384/7876.892
=0.0664455

Hanesbrands's return on assets of this year was -0.0448014. Hanesbrands's return on assets of last year was 0.0664455. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Hanesbrands's current Net Income (TTM) was -363. Hanesbrands's current Cash Flow from Operations (TTM) was 679. ==> 679 > -363 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=3946.862/7647.752
=0.51608133

Gearing (Last Year: Jun20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun19 to Jun20
=4348.201/7812.079
=0.55659972

Hanesbrands's gearing of this year was 0.51608133. Hanesbrands's gearing of last year was 0.55659972. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Jun21)=Total Current Assets/Total Current Liabilities
=3620.614/2255.956
=1.60491339

Current Ratio (Last Year: Jun20)=Total Current Assets/Total Current Liabilities
=4031.805/2002.248
=2.01363917

Hanesbrands's current ratio of this year was 1.60491339. Hanesbrands's current ratio of last year was 2.01363917. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Hanesbrands's number of shares in issue this year was 352.052. Hanesbrands's number of shares in issue last year was 350.829. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=2025.83/6868.449
=0.29494723

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=2355.806/6364.125
=0.37016966

Hanesbrands's gross margin of this year was 0.29494723. Hanesbrands's gross margin of last year was 0.37016966. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jun20)
=6868.449/8112.96
=0.8466021

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun19)
=6364.125/7876.892
=0.80794874

Hanesbrands's asset turnover of this year was 0.8466021. Hanesbrands's asset turnover of last year was 0.80794874. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+1+0+1+1+0+0+0+1
=4

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Hanesbrands has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Hanesbrands  (NYSE:HBI) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Hanesbrands Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Hanesbrands's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Hanesbrands Business Description

Hanesbrands logo
Traded in Other Exchanges
Address
1000 East Hanes Mill Road, Winston-Salem, NC, USA, 27105
Hanesbrands manufactures basic and athletic apparel under brands including Hanes, Champion, Playtex, Bali, and Bonds. The company sells wholesale to discount, midmarket, and department store retailers as well as direct to consumers. Hanesbrands is vertically integrated as it produces more than 70% of its products in company-controlled factories in more than three dozen nations. Hanesbrands distributes products in the Americas, Europe, and Asia-Pacific. The company was founded in 1901 and is based in Winston-Salem, North Carolina.
Executives
Upchurch W Howard Jr officer: Group President, IW Americas 1000 EAST HANES MILL ROAD WINSTON SALEM NC 27106
Griffin Bobby J director C/O UNITED RENTALS, INC. 100 FIRST STAMFORD PL STE 700 STAMFORD CT 06902
Oliver Kristin L officer: Chief Human Resources Officer 11215 METRO PARKWAY FORT MYERS FL 33966
Ziegler Ann Elizabeth director ONE EAST WACKER DR CHICAGO IL 60601
Bratspies Stephen B director, officer: Chief Executive Officer 1000 E. HANES MILL ROAD WINSTON-SALEM NC 27105
Ram Jonathan officer: Group Pres., Global Activewear 1000 E. HANES MILL ROAD WINSTON-SALEM NC 27105
Bortolussi David L officer: Group Pres, Innerwear Intl 1000 E. HANES MILL ROAD WINSTON-SALEM NC 27105
Lewis Markland Scott officer: CAO and Interim CFO 1000 EAST HANES MILL ROAD LEGAL DEPARTMENT WINSTON-SALEM NC 27105
Faircloth Michael E. officer: Group Pres, Global Ops 1000 EAST HANES MILL ROAD WINSTON-SALEM NC 27105
Breig Geralyn director ONE OLD COUNTRY ROAD SUITE 500 CARLE PLACE NY 11514
Evans Gerald director, officer: Chief Executive Officer 1000 EAST HANES MILL ROAD WINSTON-SALEM NC 27105
Singer David V director 13024 BALLANTYNE CORPORATE PL SUITE 900 CHARLOTTE NC 28277
Moran Robert F director C/O GNC HOLDINGS, INC. 300 SIXTH AVENUE PITTSBURGH PA 15222
Johnson Joia M officer: Chief Admin Ofcr, GC&Corp Sec C/O HANESBRANDS INC. 1000 EAST HANES MILL ROAD WINSTON SALEM NC 27105
Moison Franck J director C/O COLGATE PALMOLIVE CO 300 PARK AVE 15TH FL NEW YORK NY 10022

Hanesbrands Headlines

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