Hanesbrands Inc Financials
Hanesbrands Inc (HBI) reported $3.5B in revenue over the twelve months to Sep 27, 2025, up 1.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Hanesbrands is using working-capital release and debt paydown to keep cash positive while earnings remain under pressure.
The striking figure is not the 64.3x debt-to-equity ratio itself; it mainly reflects equity shrunk to$34M , leaving almost no capital cushion beneath the debt stack. Long-term debt actually fell from$3.61B in FY2022 to$2.19B in FY2024, so leverage looks harsher because the denominator collapsed, not because borrowing kept rising.
From FY2022 to FY2024, gross margin expanded from
FY2024 still produced operating cash flow of
Financial Health Signals
Scored against operating companies for FY2024. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Hanesbrands Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Hanesbrands Inc has an operating margin of 5.3%, meaning the company retains $5 of operating profit per $100 of revenue. This results in a moderate score of 60/100, indicating healthy but not exceptional operating efficiency. This is down from 7.3% the prior year.
Hanesbrands Inc's revenue declined 3.6% year-over-year, from $3.6B to $3.5B. This contraction results in a growth score of 18/100.
Hanesbrands Inc has elevated debt relative to equity (D/E of 64.28), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 6/100, reflecting increased financial risk.
Hanesbrands Inc's current ratio of 1.37 indicates adequate short-term liquidity, earning a score of 36/100. The company can meet its near-term obligations, though with limited headroom.
Hanesbrands Inc has a free cash flow margin of 6.5%, earning a moderate score of 48/100. The company generates positive cash flow after capital investments, but with room for improvement.
Hanesbrands Inc posts a -942.2% return on equity (ROE), meaning it loses $942 for every $100 of shareholders' equity. This results in a returns score of 55/100. This is down from -4.2% the prior year.
Hanesbrands Inc scores 1.67, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Hanesbrands Inc passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
Hanesbrands Inc reported a net loss of $320.4M while generating $264.2M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Hanesbrands Inc earns $0.95 in operating income for every $1 of interest expense ($185.9M vs $195.9M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Hanesbrands Inc generated $3.5B in revenue in fiscal year 2024. This represents a decrease of 3.6% from the prior year.
Hanesbrands Inc's EBITDA was $265.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 23.5% from the prior year.
Hanesbrands Inc reported -$320.4M in net income in fiscal year 2024. This represents a decrease of 1707.7% from the prior year.
Hanesbrands Inc earned -$0.91 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 1720.0% from the prior year.
Cash & Balance Sheet
Hanesbrands Inc generated $226.4M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 56.3% from the prior year.
Hanesbrands Inc held $214.9M in cash against $2.2B in long-term debt as of fiscal year 2024.
Not reported for fiscal year 2024.
Margins & Returns
Hanesbrands Inc's gross margin was 38.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 3.3 percentage points from the prior year.
Hanesbrands Inc's operating margin was 5.3% in fiscal year 2024, reflecting core business profitability. This is down 2.0 percentage points from the prior year.
Hanesbrands Inc's net profit margin was -9.1% in fiscal year 2024, showing the share of revenue converted to profit. This is down 8.6 percentage points from the prior year.
Hanesbrands Inc's ROE was -942.2% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 937.9 percentage points from the prior year.
Capital Allocation
Hanesbrands Inc invested $16.0M in research and development in fiscal year 2024. This represents a decrease of 12.9% from the prior year.
Hanesbrands Inc repurchased no shares in fiscal year 2024.
Hanesbrands Inc invested $37.9M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 14.0% from the prior year.
HBI Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $891.7M-10.1% | $991.3M+30.4% | $760.1M-14.4% | $888.5M-1.3% | $900.4M-7.6% | $973.9M+30.8% | $744.7M-12.4% | $850.3M |
| Cost of Revenue | $528.2M-8.8% | $579.4M+30.7% | $443.4M-11.0% | $498.2M-5.4% | $526.9M-22.0% | $675.6M+51.1% | $447.2M-12.1% | $508.7M |
| Gross Profit | $363.4M-11.8% | $411.9M+30.1% | $316.7M-18.9% | $390.3M+4.5% | $373.5M+25.2% | $298.3M+0.3% | $297.4M-12.9% | $341.6M |
| SG&A Expenses | $255.9M-0.5% | $257.3M+8.6% | $236.8M-12.5% | $270.6M-3.2% | $279.4M-22.7% | $361.5M+38.0% | $262.0M+6.0% | $247.2M |
| Operating Income | $107.5M-30.5% | $154.7M+93.5% | $79.9M-33.2% | $119.7M+27.3% | $94.0M+248.8% | -$63.2M-278.5% | $35.4M-62.5% | $94.4M |
| Interest Expense | $47.1M-0.9% | $47.5M+9.7% | $43.3M-6.8% | $46.5M-4.2% | $48.5M-3.5% | $50.3M-0.6% | $50.6M-5.8% | $53.7M |
| Income Tax | -$219.5M-1841.6% | $12.6M+143.8% | $5.2M-43.3% | $9.1M-20.3% | $11.4M-0.5% | $11.5M+34.0% | $8.6M+113.2% | -$65.1M |
| Net Income | $270.7M+231.7% | $81.6M+963.1% | -$9.5M+26.6% | -$12.9M-143.0% | $30.0M+110.0% | -$298.4M-662.7% | -$39.1M-150.2% | $77.9M |
| EPS (Diluted) | $0.76+230.4% | $0.23+866.7% | -$0.03+25.0% | -$0.04-150.0% | $0.08+109.4% | -$0.85-672.7% | -$0.11-150.0% | $0.22 |
Not reported in any period shown, so not listed: R&D Expenses.
HBI Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.3B+6.4% | $4.0B+5.2% | $3.8B-0.5% | $3.8B-29.7% | $5.5B+1.5% | $5.4B-3.8% | $5.6B-0.9% | $5.6B |
| Current Assets | $1.9B+1.0% | $1.9B+8.6% | $1.7B-0.1% | $1.7B-26.7% | $2.3B+2.4% | $2.3B-1.6% | $2.3B+2.1% | $2.3B |
| Cash & Equivalents | $217.6M-1.3% | $220.3M+25.2% | $175.9M-18.1% | $214.9M-32.2% | $316.8M+48.5% | $213.3M+21.2% | $176.0M-5.0% | $185.2M |
| Inventory | $991.0M+3.5% | $957.0M-2.1% | $977.3M+12.2% | $871.0M-2.9% | $897.2M-2.1% | $916.7M-11.1% | $1.0B+7.9% | $956.4M |
| Accounts Receivable | $455.0M-6.6% | $487.0M+42.4% | $342.1M-9.1% | $376.2M-18.8% | $463.3M0.0% | $463.3M+16.3% | $398.5M-5.9% | $423.7M |
| Goodwill | $649.6M+0.2% | $648.4M+1.2% | $640.6M+0.3% | $638.4M-3.6% | $662.1M+1.3% | $653.9M+0.7% | $649.1M-1.6% | $659.4M |
| Total Liabilities | $3.8B-0.6% | $3.9B+2.0% | $3.8B-0.8% | $3.8B-28.3% | $5.3B-0.1% | $5.3B+1.2% | $5.3B+0.6% | $5.2B |
| Current Liabilities | $1.2B+1.4% | $1.2B+10.9% | $1.1B-11.3% | $1.2B-20.8% | $1.6B+0.6% | $1.6B+7.3% | $1.5B+5.0% | $1.4B |
| Long-Term Debt | $2.2B-2.6% | $2.3B-2.4% | $2.3B+6.2% | $2.2B-31.9% | $3.2B-0.4% | $3.2B-0.4% | $3.2B+0.1% | $3.2B |
| Total Equity | $446.4M+168.4% | $166.4M+282.9% | $43.4M+27.7% | $34.0M-77.2% | $149.3M+131.9% | $64.4M-81.0% | $338.2M-19.4% | $419.4M |
| Retained Earnings | $577.5M+88.3% | $306.8M+36.2% | $225.1M-4.0% | $234.5M-5.2% | $247.4M+13.8% | $217.4M-57.8% | $515.8M-7.0% | $554.8M |
HBI Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $27.6M-24.0% | $36.3M+133.6% | -$108.2M-260.4% | $67.4M-26.9% | $92.2M+17.6% | $78.4M+199.7% | $26.2M-90.5% | $274.4M |
| Capital Expenditures | $5.3M-41.2% | $9.1M-19.4% | $11.2M+96.9% | $5.7M+39.7% | $4.1M-47.8% | $7.8M-61.3% | $20.3M+145.1% | $8.3M |
| Free Cash Flow | $22.3M-18.3% | $27.2M+122.8% | -$119.4M-293.5% | $61.7M-30.0% | $88.1M+24.8% | $70.6M+1093.6% | $5.9M-97.8% | $266.1M |
| Investing Cash Flow | -$3.9M+65.9% | -$11.4M-164.9% | $17.6M-97.9% | $844.9M+11509.5% | -$7.4M-75.9% | -$4.2M+79.2% | -$20.2M-149.6% | -$8.1M |
| Financing Cash Flow | -$26.8M-266.0% | $16.1M-68.4% | $51.1M+105.1% | -$1.0B-609935.8% | -$165K+99.5% | -$32.5M-336.2% | -$7.5M+97.3% | -$272.3M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0 |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0 |
HBI Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 40.8%-0.8pp | 41.5%-0.1pp | 41.7%-2.3pp | 43.9%+2.5pp | 41.5%+10.8pp | 30.6%-9.3pp | 39.9%-0.2pp | 40.2% |
| Operating Margin | 12.1%-3.5pp | 15.6%+5.1pp | 10.5%-3.0pp | 13.5%+3.0pp | 10.4%+16.9pp | -6.5%-11.3pp | 4.8%-6.3pp | 11.1% |
| Net Margin | 30.4%+22.1pp | 8.2%+9.5pp | -1.2%+0.2pp | -1.5%-4.8pp | 3.3%+34.0pp | -30.6%-25.4pp | -5.3%-14.4pp | 9.2% |
| Return on Equity | 60.6%+11.6pp | 49.1%+70.8pp | -21.8%+16.1pp | -37.9%-57.9pp | 20.1%+483.4pp | -463.3%-451.7pp | -11.6%-30.2pp | 18.6% |
| Return on Assets | 6.3%+4.3pp | 2.0%+2.3pp | -0.3%+0.1pp | -0.3%-0.9pp | 0.5%+6.1pp | -5.5%-4.9pp | -0.7%-2.1pp | 1.4% |
| Current Ratio | 1.510.0x | 1.520.0x | 1.55+0.2x | 1.37-0.1x | 1.490.0x | 1.46-0.1x | 1.590.0x | 1.64 |
| Debt-to-Equity | 4.94-8.7x | 13.62-39.8x | 53.45-10.8x | 64.28+42.8x | 21.50-28.6x | 50.06+40.5x | 9.57+1.9x | 7.72 |
| FCF Margin | 2.5%-0.2pp | 2.8%+18.5pp | -15.7%-22.7pp | 7.0%-2.8pp | 9.8%+2.5pp | 7.2%+6.5pp | 0.8%-30.5pp | 31.3% |
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Where Hanesbrands Inc Ranks
Frequently Asked Questions
What is Hanesbrands Inc's annual revenue?
Hanesbrands Inc (HBI) reported $3.5B in total revenue for fiscal year 2024. This represents a -3.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Hanesbrands Inc's revenue growing?
Hanesbrands Inc (HBI) revenue declined by 3.6% year-over-year, from $3.6B to $3.5B in fiscal year 2024.
Is Hanesbrands Inc profitable?
No, Hanesbrands Inc (HBI) reported a net income of -$320.4M in fiscal year 2024, with a net profit margin of -9.1%.
What is Hanesbrands Inc's EBITDA?
Hanesbrands Inc (HBI) had EBITDA of $265.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Hanesbrands Inc have?
As of fiscal year 2024, Hanesbrands Inc (HBI) had $214.9M in cash and equivalents against $2.2B in long-term debt.
What is Hanesbrands Inc's gross margin?
Hanesbrands Inc (HBI) had a gross margin of 38.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Hanesbrands Inc's operating margin?
Hanesbrands Inc (HBI) had an operating margin of 5.3% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Hanesbrands Inc's net profit margin?
Hanesbrands Inc (HBI) had a net profit margin of -9.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Hanesbrands Inc's return on equity (ROE)?
Hanesbrands Inc (HBI) has a return on equity of -942.2% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Hanesbrands Inc's free cash flow?
Hanesbrands Inc (HBI) generated $226.4M in free cash flow during fiscal year 2024. This represents a -56.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Hanesbrands Inc's operating cash flow?
Hanesbrands Inc (HBI) generated $264.2M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Hanesbrands Inc's total assets?
Hanesbrands Inc (HBI) had $3.8B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Hanesbrands Inc's capital expenditures?
Hanesbrands Inc (HBI) invested $37.9M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Hanesbrands Inc spend on research and development?
Hanesbrands Inc (HBI) invested $16.0M in research and development during fiscal year 2024.
What is Hanesbrands Inc's current ratio?
Hanesbrands Inc (HBI) had a current ratio of 1.37 as of fiscal year 2024, which is considered adequate.
What is Hanesbrands Inc's debt-to-equity ratio?
Hanesbrands Inc (HBI) had a debt-to-equity ratio of 64.28 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Hanesbrands Inc's return on assets (ROA)?
Hanesbrands Inc (HBI) had a return on assets of -8.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Hanesbrands Inc's Altman Z-Score?
Hanesbrands Inc (HBI) has an Altman Z-Score of 1.67, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Hanesbrands Inc's Piotroski F-Score?
Hanesbrands Inc (HBI) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Hanesbrands Inc's earnings high quality?
Hanesbrands Inc (HBI) reported a net loss of $320.4M while generating $264.2M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Hanesbrands Inc cover its interest payments?
Hanesbrands Inc (HBI) has an interest coverage ratio of 0.95x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Hanesbrands Inc?
Hanesbrands Inc (HBI) scores 37 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.