## Founding Date | 1977 |

HSN is a subsidiary of Qurate Retail Group

HSN revenue breakdown by business segment: 7.0% from Apparel, 8.0% from Jewelry, 9.0% from Accessories, 13.0% from Beauty, 22.0% from Electronics and 41.0% from Home

USD | FY, 2011 | FY, 2012 | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|---|---|---|---|

## Revenue | 3.2b | 3.3b | 3.4b | 3.6b | 3.7b | 3.6b | 2.3b |

| 5% | 3% | (3%) | (34%) | |||

## Cost of goods sold | 2.0b | 2.1b | 2.2b | 2.3b | 2.4b | 2.4b | 1.5b |

## Gross profit | 1.2b | 1.2b | 1.2b | 1.3b | 1.3b | 1.2b | 810.0m |

| 36% | 36% | 36% | 35% | 36% | 34% | 35% |

## Sales and marketing expense | 577.2m | 662.3m | 695.8m | 745.9m | 743.5m | ||

## General and administrative expense | 242.0m | 224.7m | 210.8m | 241.3m | 193.4m | 590.0m | |

## Operating expense total | 918.1m | 925.0m | 947.2m | 1.0b | 1.0b | 590.0m | |

## Depreciation and amortization | 38.0m | 40.6m | 43.4m | 42.7m | 31.0m | ||

## EBITDA | 220.0m | ||||||

| 9% | ||||||

## EBIT | 232.0m | 258.7m | 282.7m | 284.6m | 284.0m | 205.8m | 103.0m |

| 7% | 8% | 8% | 8% | 8% | 6% | 4% |

## Interest expense | 32.0m | 20.8m | 6.7m | 7.3m | 15.3m | 16.2m | |

## Interest income | 429.0k | 564.0k | 205.0k | 184.0k | 136.0k | 95.0k | |

## Pre tax profit | 200.4m | 219.9m | 276.1m | 277.5m | 268.9m | 189.7m | |

## Income tax expense | 77.3m | 83.4m | 97.7m | 104.5m | 99.6m | 71.0m | |

## Net Income | 123.1m | 130.7m | 178.4m | 173.0m | 169.2m | 118.7m |

- Source: SEC Filings

- Source: SEC Filings

USD | Y, 2009 | FY, 2011 | Y, 2011 | Y, 2012 | FY, 2012 | Y, 2013 | FY, 2013 | FY, 2014 | Y, 2014 | Y, 2015 | FY, 2015 | FY, 2016 |
---|---|---|---|---|---|---|---|---|---|---|---|---|

## Cash | 354.3m | 381.8m | 381.8m | 222.1m | 222.1m | 196.4m | 196.4m | 160.0m | 160.0m | 63.9m | 63.9m | 42.7m |

## Accounts Receivable | 222.6m | 249.9m | 265.1m | 317.8m | 306.6m | |||||||

## Prepaid Expenses | 45.0m | 46.2m | 48.6m | 44.7m | 45.4m | |||||||

## Inventories | 296.5m | 330.9m | 327.3m | 327.3m | 398.7m | 398.7m | 428.0m | 428.0m | 391.1m | |||

## Current Assets | 970.1m | 876.7m | 867.3m | 867.3m | 953.9m | 953.9m | 843.9m | 843.9m | 813.0m | |||

## PP&E | 158.4m | 171.3m | 178.7m | 178.7m | 193.9m | 193.9m | 211.8m | 211.8m | 211.1m | |||

## Goodwill | 9.9m | 9.9m | 9.9m | 9.9m | 9.9m | 9.9m | 9.9m | 9.9m | ||||

## Total Assets | 1.4b | 1.3b | 1.3b | 1.3b | 1.4b | 1.4b | 1.3b | 1.3b | 1.3b | |||

## Accounts Payable | 270.2m | 267.1m | 255.6m | 255.3m | 254.7m | 3.0b | ||||||

## Short-term debt | 9.4m | 12.5m | 17.2m | 25.0m | ||||||||

## Current Liabilities | 464.2m | 491.8m | 476.1m | 476.1m | 513.5m | 513.5m | 514.7m | 514.7m | 544.1m | |||

## Long-term debt | 239.1m | 240.6m | 468.8m | 210.9m | 615.0m | |||||||

## Total Debt | 239.1m | 250.0m | 12.5m | 228.1m | 25.0m | |||||||

## Total Liabilities | 805.3m | 827.4m | 808.8m | 829.9m | 1.2b | 1.1b | ||||||

## Common Stock | 584.0k | 549.0k | 530.0k | 524.0k | 524.0k | |||||||

## Preferred Stock | ||||||||||||

## Additional Paid-in Capital | 2.2b | 2.0b | 1.8b | 1.8b | 1.7b | 1.7b | 1.1b | 1.1b | 1.0b | |||

## Retained Earnings | (1.6b) | (1.5b) | (1.3b) | (1.3b) | (1.1b) | (1.1b) | (939.7m) | (939.7m) | (820.9m) | |||

## Total Equity | 589.7m | 504.5m | 529.1m | 602.3m | 146.6m | 146.6m | 195.5m | |||||

## Debt to Equity Ratio | 0 x | 0.2 x | ||||||||||

## Debt to Assets Ratio | 0 x | 0 x | ||||||||||

## Financial Leverage | 2.4 x | 2.6 x | 2.5 x | 2.4 x | 9.2 x | 9.2 x | 6.7 x |

- Source: SEC Filings

- Source: SEC Filings

USD | FY, 2011 | FY, 2012 | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
---|---|---|---|---|---|---|

## Net Income | 123.1m | 130.7m | 178.4m | 173.0m | 169.2m | 118.7m |

## Depreciation and Amortization | 37.0m | 38.0m | 40.6m | 43.9m | 43.4m | 42.7m |

## Accounts Receivable | (46.7m) | (52.0m) | (38.2m) | (76.7m) | (22.8m) | (51.7m) |

## Inventories | (70.0k) | (36.1m) | 3.6m | (71.4m) | (29.3m) | 7.6m |

## Cash From Operating Activities | 166.3m | 147.4m | 231.9m | 138.7m | 203.5m | 236.5m |

## Purchases of PP&E | (42.3m) | (45.8m) | (52.0m) | (47.3m) | (60.7m) | (41.7m) |

## Capital Expenditures | (9.1m) | |||||

## Cash From Investing Activities | (42.3m) | (62.1m) | (61.1m) | (47.6m) | (62.1m) | (42.4m) |

## Short-term Borrowings | (140.0m) | (262.0m) | ||||

## Long-term Borrowings | (69.8m) | (253.5m) | (9.4m) | (12.5m) | (228.1m) | (25.0m) |

## Dividends Paid | (7.4m) | (31.0m) | (42.3m) | (57.8m) | (597.9m) | (73.2m) |

## Cash From Financing Activities | (96.4m) | (239.5m) | (196.4m) | (127.5m) | (237.5m) | (215.3m) |

## Net Change in Cash | 27.5m | (159.7m) | (25.7m) | (36.4m) | (96.1m) | (21.2m) |

## Interest Paid | 29.2m | 30.0m | ||||

## Income Taxes Paid | 73.8m | 52.7m | ||||

## Free Cash Flow | 222.8m | 138.7m | 203.5m |

- Source: SEC Filings

- Source: SEC Filings

USD | Y, 2009 |
---|

FY, 2014 | Q1, 2015 | Q3, 2015 | FY, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | FY, 2016 | Q1, 2017 | Q2, 2017 | |
---|---|---|---|---|---|---|---|---|---|---|

## Brands | 8 | 8 | 6 | |||||||

## Catalogs Circulated | 325 m | 82.8 m | 331 m | 83.7 m | 85.9 m | 73.2 m | 300 m | 66.1 m | 70.1 m | |

## Homes Reached (HSN) | 95 m | 93.7 m | 91.4 m | |||||||

## Homes Reached (HSN2) | 34.2 m | 49.8 m | 47.5 m | |||||||

## Stores | 11 | 12 | 14 | 14 | 11 | 17 | 16 | 17 | 16 | |

## Units Shipped | 63.6 m | 15.2 m | 15.1 m | 64.3 m | 15 m | 14.2 m | 14.9 m | 63.1 m | 13.8 m | 14.2 m |