DCF Tool


G-III Apparel Group Ltd. – Hosiery and Sock Mills
behind every great company is an even better story. ours began in 1956, when aron goldfarb came to the united states with a european master craftsman's skill and an unwavering desire to succeed. aron founded g&n sportswear, and in 1972 his son, morris goldfarb - the current chief executive officer - joined the company. now called the g-iii apparel group, the company has quickly become the world's premiere designer and manufacturer of quality leather outerwear dresses, women's suits and sportswear. we understand that we can only succeed so long as we remember the core values that got us here.
Analysis Results
Intrinsic Value $359.11
Latest Price $24.07
Relative Value 93% undervalued
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Cash Flow (Billions)
Analysis Parameters
New Ticker
Analysis Details
Growth Rate Projection

An exponential growth model was fit to the past cash flow data, giving more weight to more recent years. This model determined a growth rate estimate of 29.2%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 10.1%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 29.2%, the cash flows for the next 5 years are projected.

The present value of each year's flow is adjusted to present value using the discount rate.

Year Future flow (billion) Present value (billion)
2024 0.632 0.574
2025 0.816 0.673
2026 1.05 0.789
2027 1.36 0.926
2028 1.76 1.09
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 22.1 billion. This corresponds to a present value of 12.4 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 4.05 billion. Adding in the terminal value gives a total present value of 16.4 billion.

There are presently 45.7 million outstanding shares, so the intrinsic value per share is 359.11.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 1,652,500,000
Current Cash 191,652,000
Current Liabilities 579,069,000
Current Debt 135,518,000
Non-Cash Working Capital (NCWC) 1,017,297,000
Change in NCWC 336,992,000
EBIT 240,224,000
Tax Provision -3,788,000
Depreciation and Amortization 27,762,000
Capital Expenditure -21,528,000
Unlevered Free Cash Flow 583,450,000
Current Assets 1,652,857,000
Current Cash 465,984,000
Current Liabilities 510,805,000
Current Debt 4,237,000
Non-Cash Working Capital (NCWC) 680,305,000
Change in NCWC 85,799,000
EBIT 312,548,000
Tax Provision 70,875,000
Depreciation and Amortization 27,626,000
Capital Expenditure -18,261,000
Unlevered Free Cash Flow 325,963,655
Current Assets 1,344,040,000
Current Cash 351,934,000
Current Liabilities 402,002,000
Current Debt 4,402,000
Non-Cash Working Capital (NCWC) 594,506,000
Change in NCWC 36,477,000
EBIT 100,715,000
Tax Provision 12,203,000
Depreciation and Amortization 38,625,000
Capital Expenditure -16,035,000
Unlevered Free Cash Flow 125,380,579
Current Assets 1,368,688,000
Current Cash 197,372,000
Current Liabilities 613,960,000
Current Debt 673,000
Non-Cash Working Capital (NCWC) 558,029,000
Change in NCWC -44,940,000
EBIT 247,025,000
Tax Provision 38,261,000
Depreciation and Amortization 38,735,000
Capital Expenditure -37,990,000
Unlevered Free Cash Flow 150,927,049
Current Assets 1,253,895,000
Current Cash 70,138,000
Current Liabilities 580,788,000
Current Debt 0
Non-Cash Working Capital (NCWC) 602,969,000
Change in NCWC 36,311,000
EBIT 233,527,000
Tax Provision 45,763,000
Depreciation and Amortization 38,819,000
Capital Expenditure -29,205,000
Unlevered Free Cash Flow 221,317,331
Current Assets 959,601,000
Current Cash 45,776,000
Current Liabilities 347,167,000
Current Debt 0
Non-Cash Working Capital (NCWC) 566,658,000
Change in NCWC 79,096,000
EBIT 162,147,000
Tax Provision 47,925,000
Depreciation and Amortization 37,783,000
Capital Expenditure -34,507,000
Unlevered Free Cash Flow 173,905,955
Current Assets 882,938,000
Current Cash 79,957,000
Current Liabilities 315,419,000
Current Debt 0
Non-Cash Working Capital (NCWC) 487,562,000
Change in NCWC -37,487,000
EBIT 103,944,000
Tax Provision 25,824,000
Depreciation and Amortization 32,481,000
Capital Expenditure -24,928,000
Unlevered Free Cash Flow 39,491,213
Current Assets 902,440,000
Current Cash 132,587,000
Current Liabilities 244,804,000
Current Debt 0
Non-Cash Working Capital (NCWC) 525,049,000
Change in NCWC 95,700,000
EBIT 184,756,000
Tax Provision 64,800,000
Depreciation and Amortization 25,392,000
Capital Expenditure -42,172,000
Unlevered Free Cash Flow 196,841,922
Current Assets 798,866,000
Current Cash 128,354,000
Current Liabilities 241,163,000
Current Debt 0
Non-Cash Working Capital (NCWC) 429,349,000
Change in NCWC 57,633,000
EBIT 164,895,000
Tax Provision 59,450,000
Depreciation and Amortization 20,374,000
Capital Expenditure -42,566,000
Unlevered Free Cash Flow 142,137,534
Current Assets 586,190,000
Current Cash 22,091,000
Current Liabilities 241,226,000
Current Debt 48,843,000
Non-Cash Working Capital (NCWC) 371,716,000
Change in NCWC 50,707,000
EBIT 131,451,000
Tax Provision 45,826,000
Depreciation and Amortization 13,676,000
Capital Expenditure -29,283,000
Unlevered Free Cash Flow 117,267,091
Current Assets 516,585,000
Current Cash 27,360,000
Current Liabilities 233,216,000
Current Debt 65,000,000
Non-Cash Working Capital (NCWC) 321,009,000
Change in NCWC 27,360,000
EBIT 99,769,000
Tax Provision 35,436,000
Depreciation and Amortization 9,941,000
Capital Expenditure -11,615,000
Unlevered Free Cash Flow 87,028,672

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