G Iii Apparel Group Ltd

GIII

Apparel & Other Finishd Prods of Fabrics & Similar Matl

Mkt Cap

$1.352B

PE

7.73

Debt

$417.8M

Cash

$507.8M

EV

$1.262B

FCF

$562.9M

Market Cap

$1.352B

P/E Ratio

7.73

Debt

$417.8M

Cash

$507.8M

EV

$1.262B

FCF

$562.9M

Charts data: {"Earnings":[{"time":"2015-01-30","value":108991000},{"time":"2016-01-30","value":114333000},{"time":"2017-01-30","value":51938000},{"time":"2018-01-30","value":62124000},{"time":"2019-01-30","value":138067000},{"time":"2020-01-30","value":143837000},{"time":"2021-01-30","value":23523000},{"time":"2022-01-30","value":200101000},{"time":"2023-01-30","value":-134382000},{"time":"2024-01-30","value":174740000}],"Sales":[{"time":"2015-01-30","value":2116855000},{"time":"2016-01-30","value":2344142000},{"time":"2017-01-30","value":2386435000},{"time":"2018-01-30","value":2806938000},{"time":"2019-01-30","value":3076208000},{"time":"2020-01-30","value":3160464000},{"time":"2021-01-30","value":2055146000},{"time":"2022-01-30","value":2766538000},{"time":"2023-01-30","value":3226728000},{"time":"2024-01-30","value":3098242000}],"Net Margins":[{"time":"2015-01-30","value":0.051487229876396826},{"time":"2016-01-30","value":0.04877392239889904},{"time":"2017-01-30","value":0.02176384439551046},{"time":"2018-01-30","value":0.02213230217411286},{"time":"2019-01-30","value":0.044882205624587154},{"time":"2020-01-30","value":0.045511355294665594},{"time":"2021-01-30","value":0.011445902140285897},{"time":"2022-01-30","value":0.0723290263860464},{"time":"2023-01-30","value":-0.04164652242147463},{"time":"2024-01-30","value":0.05639972603818553}],"Assets":[{"time":"2015-01-30","value":1046718000},{"time":"2016-01-30","value":1184070000},{"time":"2017-01-30","value":1851944000},{"time":"2018-01-30","value":1915177000},{"time":"2019-01-30","value":2208058000},{"time":"2020-01-30","value":2565137000},{"time":"2021-01-30","value":2436386000},{"time":"2022-01-30","value":2742528000},{"time":"2023-01-30","value":2712405000},{"time":"2024-01-30","value":2681164000}],"Stockholders Equity":[{"time":"2015-01-30","value":761258000},{"time":"2016-01-30","value":888127000},{"time":"2017-01-30","value":1021236000},{"time":"2018-01-30","value":1120689000},{"time":"2019-01-30","value":1189009000},{"time":"2020-01-30","value":1290672000},{"time":"2021-01-30","value":1336241000},{"time":"2022-01-30","value":1519912000},{"time":"2023-01-30","value":1385448000},{"time":"2024-01-30","value":1550260000}],"ROE":[{"time":"2015-01-30","value":0.14317222282064687},{"time":"2016-01-30","value":0.12873496695855435},{"time":"2017-01-30","value":0.05085797993803587},{"time":"2018-01-30","value":0.05543375548434936},{"time":"2019-01-30","value":0.11611939018123496},{"time":"2020-01-30","value":0.11144349610125578},{"time":"2021-01-30","value":0.017603860381473102},{"time":"2022-01-30","value":0.13165301675360153},{"time":"2023-01-30","value":-0.09699534013546521},{"time":"2024-01-30","value":0.11271657657425206}],"ROA":[{"time":"2015-01-30","value":0.16092299931786785},{"time":"2016-01-30","value":0.1558049777462481},{"time":"2017-01-30","value":0.0504680487098962},{"time":"2018-01-30","value":0.0804056230834017},{"time":"2019-01-30","value":0.10448729154759522},{"time":"2020-01-30","value":0.08874925588769722},{"time":"2021-01-30","value":0.03400200132491321},{"time":"2022-01-30","value":0.11343293486885093},{"time":"2023-01-30","value":-0.04035606777011545},{"time":"2024-01-30","value":0.10567910056975253}]}

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through two segments, Wholesale Operations and Retail Operations. Its products include outerwear, dresses, sportswear, swimwear, women's suits, and women's performance wear; and women's handbags, footwear, small leather goods, cold weather accessories, and luggage. The company markets apparel and other products under the proprietary brands, including DKNY, Donna Karan, Karl Lagerfeld, Karl Lagerfeld Paris, Vilebrequin, G.H. Bass, Eliza J, Jessica Howard, Andrew Marc, Marc New York, Wilsons Leather, Sonia Rykiel, and G-III Sports by Carl Banks; and licensed brands, such as Calvin Klein, Tommy Hilfiger, Levi's, Guess?, Kenneth Cole, Cole Haan, Vince Camuto, Margaritaville, and Dockers. It has licenses with the National Football League, National Basketball Association, Major League Baseball, and National Hockey League, as well as approximately 150 U.S. colleges and universities. The company offers its products to department, specialty, and mass merchant retail stores. It also sells its products online. G-III Apparel Group, Ltd. was founded in 1956 and is based in New York, New York.

Sector

10-Q
7/31/23
10-Q
4/30/23
10-K
1/31/23
10-Q
10/31/22
10-Q
7/31/22
10-Q
4/30/22
10-K
1/31/22
10-Q
10/31/21
10-Q
7/31/21
10-Q
4/30/21
10-K
1/31/21
10-Q
10/31/20
10-Q
7/31/20
10-Q
4/30/20
10-K
1/31/20
10-Q
10/31/19
10-Q
7/31/19
10-Q
4/30/19
10-K
1/31/19
10-Q
10/31/18
10-Q
7/31/18
10-Q
4/30/18
10-K
1/31/18

DCF

Discounted Cash Flow Valuation of G Iii Apparel Group Ltd

Calculate

Growth Years

Growth

Start

End

Discount

Start

End

Multiple

g\r	+10%	+11%	+12%	+13%	+14%
0%	10	9	8	8	7
+1%	11	10	9	8	8
+2%	13	11	10	9	8
+3%	14	13	11	10	9
+4%	17	14	12	11	10

Years	0	1	2	3	4	5	6	7	8	9	10	TV
FCF	$562.9M	$731.8M	$931M	$1.159B	$1.41B	$1.676B	$1.946B	$2.205B	$2.438B	$2.628B	$2.759B	$27.59B
DCF		$636.3M	$704M	$761.8M	$805.9M	$833.2M	$841.2M	$829M	$797M	$746.9M	$682M	$6.82B
Value	$14.46B

Chart P/E ratio

In the chart Earnings are multiplied by this value.

Earnings Growth 9.1%

Earnings Stability -0.064%

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

The Net Margin is too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Over time the ROA has been decreasing indicating a lower marginal ROA with respect to the calculated one, this could impede growth.

Years	01-2016	01-2017	01-2018	01-2019	01-2020	01-2021	01-2022	01-2023	01-2024	TTM
Net Margin	4.9%	2.2%	2.2%	4.5%	4.6%	1.1%	7.2%	-4.2%	5.6%	5.6%
ROA	16%	5%	8%	10%	8.9%	3.4%	11%	-4%	11%	11%
ROE	13%	5.1%	5.5%	12%	11%	1.8%	13%	-9.7%	11%	11%

What is the average Net Margin?

The average Net Margin over the past 5 years is +3.15%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is -0.41%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +6.77%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is -0.86%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is +6.54%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is -1.51%.

Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Under the assumption that FCF does not diminish and debt does not increase, the current years to repay the debt are acceptable.

The Graham’s stability indicate a relevant drawdown, consider checking when it has occured and why.

Years	01-2016	01-2017	01-2018	01-2019	01-2020	01-2021	01-2022	01-2023	01-2024	TTM
Debt FCF	-	6.39	9.66	-	2.32	8.72	3.10	-4.91	0.74	0.74
Debt Equity	-	0.51	0.39	-	0.31	0.38	0.34	0.45	0.27	0.27
MIN
Graham Stability	-	-	68%	100%	100%	21%	100%	-110%	100%	-110%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 0.74.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is -1.68.

What is the Graham’s Stability?

Graham’s Stability measure stands at -1.10.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Earnings growth has been increasing in past years.

Years	01-2017	01-2019	01-2021	01-2023	Trend
Revenue	3.8%	0.14%	15%	-4%	-0.42%
Net Income	19%	4.8%	95%	-	77%
Stockholders Equity	6.1%	5.4%	5.1%	12%	-1.4%
FCF	32%	50%	110%	-	6.9%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is +0.14%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is -0.42%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is +4.82%.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is +77.28%.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is +5.45%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is -1.42%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is +49.8%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is +6.94%.