NYSE : FLO
Flowers Foods, Inc. — Financial statements
Consumer Staples · Packaged Foods · United States
Last price 6.27 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.33B
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Financial statements
Flowers Foods, Inc. (FLO) reported revenue of 5.22B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year February - January; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 5.22B | 5.26B | 5.10B | 5.09B | 4.81B | 4.33B |
| Cost of Revenue | 2.68B | 2.69B | 2.58B | 2.63B | 2.50B | 2.18B |
| Gross Profit | 2.54B | 2.57B | 2.53B | 2.46B | 2.30B | 2.16B |
| Selling, General & Admin | 2.03B | 2.03B | 1.99B | 1.96B | 1.80B | 1.72B |
| Other Operating Expenses | 694.00K | 2.66M | ||||
| Operating Expenses | 2.20B | 2.20B | 2.15B | 2.11B | 1.94B | 1.85B |
| Operating Income | 336.43M | 365.53M | 379.59M | 350.30M | 365.24M | 302.97M |
| Interest Expense | -80.63M | -76.67M | -37.13M | -36.61M | -28.92M | -31.53M |
| Interest & Investment Income | 17.00M | 17.37M | 17.51M | 20.58M | 23.64M | 23.53M |
| EBT Excluding Unusual Items | 272.80M | 306.23M | 359.97M | 334.27M | 359.96M | 294.97M |
| Merger & Restructuring Charges | -42.70M | -54.28M | -19.13M | -32.33M | -52.51M | |
| Gain (Loss) on Sale of Investments | -4.00M | -5.50M | ||||
| Asset Writedown | -135.98M | -135.98M | -4.10M | -1.80M | -1.00M | |
| Legal Settlements | -14.40M | -902.00K | -3.80M | -137.53M | -7.50M | |
| Other Unusual Items | -236.00K | -24.20M | ||||
| Pretax Income | 79.72M | 115.07M | 328.94M | 157.11M | 298.71M | 270.77M |
| Income Tax Expense | 24.54M | 31.24M | 80.83M | 33.69M | 70.32M | 64.58M |
| Net Income | 55.17M | 83.83M | 248.12M | 123.42M | 228.39M | 206.19M |
| Net Income to Common | 55.17M | 83.83M | 248.12M | 123.42M | 228.39M | 206.19M |
| Shares Outstanding (Basic) | 211.70M | 211.34M | 211.02M | 211.63M | 211.90M | 211.84M |
| Shares Outstanding (Diluted) | 212.34M | 212.11M | 212.14M | 213.36M | 213.23M | 213.03M |
| EPS (Basic) | 0.26 | 0.40 | 1.18 | 0.58 | 1.08 | 0.97 |
| EPS (Diluted) | 0.26 | 0.40 | 1.17 | 0.58 | 1.07 | 0.97 |
| Free Cash Flow | 306.06M | 319.09M | 280.58M | 220.28M | 191.82M | 143.96M |
| Free Cash Flow Per Share | 1.44 | 1.50 | 1.32 | 1.03 | 0.90 | 0.68 |
| Dividend Per Share | 0.87 | 0.98 | 0.95 | 0.91 | 0.87 | 0.83 |
| Gross Margin | 48.63% | 48.87% | 49.50% | 48.30% | 47.94% | 49.77% |
| Operating Margin | 6.44% | 6.95% | 7.44% | 6.88% | 7.60% | 7.00% |
| Profit Margin | 1.06% | 1.59% | 4.86% | 2.42% | 4.75% | 4.76% |
| Free Cash Flow Margin | 5.86% | 6.07% | 5.50% | 4.33% | 3.99% | 3.32% |
| EBITDA | 486.93M | 514.75M | 520.70M | 487.81M | 496.99M | 427.88M |
| EBITDA Margin | 9.32% | 9.79% | 10.20% | 9.58% | 10.34% | 9.88% |
| D&A For EBITDA | 150.50M | 149.23M | 141.11M | 137.51M | 131.76M | 124.91M |
| EBIT | 336.43M | 365.53M | 379.59M | 350.30M | 365.24M | 302.97M |
| EBIT Margin | 6.44% | 6.95% | 7.44% | 6.88% | 7.60% | 7.00% |
| Effective Tax Rate | 30.79% | 27.15% | 24.57% | 21.45% | 23.54% | 23.85% |
Balance sheet
Fiscal year February - January; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 52.77M | 12.10M | 5.00M | 22.53M | 165.13M | 185.87M |
| Cash & Short-Term Investments | 52.77M | 12.10M | 5.00M | 22.53M | 165.13M | 185.87M |
| Accounts Receivable | 365.45M | 351.28M | 336.44M | 345.58M | 348.60M | 295.99M |
| Other Receivables | 13.47M | 25.75M | 12.71M | 17.36M | 13.00M | |
| Receivables | 400.49M | 399.27M | 369.27M | 372.71M | 375.07M | 338.08M |
| Inventory | 309.76M | 299.22M | 262.69M | 270.88M | 242.31M | 203.46M |
| Prepaid Expenses | 14.01M | 13.95M | 14.34M | 15.05M | 14.21M | 12.58M |
| Other Current Assets | 9.32M | 4.57M | 5.06M | 6.55M | 8.21M | 6.13M |
| Total Current Assets | 786.35M | 729.09M | 656.36M | 687.71M | 804.94M | 746.12M |
| Property, Plant & Equipment | 1.24B | 1.27B | 1.28B | 1.24B | 1.12B | 1.09B |
| Long-Term Investments | 3.84M | 3.70M | 11.48M | 7.92M | 11.51M | 3.15M |
| Goodwill | 1.05B | 1.05B | 679.90M | 677.80M | 545.24M | 545.24M |
| Other Intangible Assets | 965.48M | 984.66M | 626.37M | 657.74M | 664.38M | 695.43M |
| Long-Term Accounts Receivable | 3.96M | |||||
| Long-Term Deferred Charges | 3.42M | 1.90M | 783.00K | 1.21M | 1.61M | 2.79M |
| Other Long-Term Assets | 35.15M | 34.40M | 34.36M | 31.16M | 19.93M | 15.06M |
| Total Assets | 4.19B | 4.18B | 3.40B | 3.43B | 3.31B | 3.25B |
| Accounts Payable | 330.70M | 312.68M | 260.71M | 318.60M | 343.38M | 268.50M |
| Accrued Expenses | 162.12M | 161.33M | 170.76M | 136.11M | 129.24M | 127.99M |
| Short-Term Debt | 4.43M | 3.63M | 14.46M | 18.18M | 17.96M | 17.16M |
| Current Portion of Long-Term Debt | 399.88M | 399.57M | ||||
| Current Portion of Leases | 75.16M | 73.78M | 68.52M | 47.61M | 45.77M | 47.97M |
| Current Income Taxes Payable | 14.50M | 6.79M | 7.66M | 7.98M | 11.97M | 7.56M |
| Current Unearned Revenue | 2.57M | 2.29M | 2.38M | 3.22M | 3.89M | 4.04M |
| Other Current Liabilities | 28.83M | 16.09M | 24.11M | 127.46M | 12.22M | 46.69M |
| Total Current Liabilities | 1.02B | 976.16M | 548.60M | 659.15M | 564.42M | 519.92M |
| Long-Term Debt | 1.29B | 1.36B | 1.02B | 1.05B | 891.84M | 890.61M |
| Long-Term Leases | 241.94M | 251.30M | 254.47M | 236.90M | 237.09M | 252.55M |
| Long-Term Unearned Revenue | 3.55M | 4.28M | 5.45M | 7.22M | 11.23M | 15.68M |
| Pension & Post-Retirement Benefits | 8.82M | 8.60M | 5.51M | 5.80M | 5.81M | 7.25M |
| Long-Term Deferred Tax Liabilities | 270.36M | 246.96M | 124.23M | 91.25M | 134.83M | 133.76M |
| Other Long-Term Liabilities | 33.10M | 37.52M | 30.43M | 26.71M | 24.46M | 22.28M |
| Total Liabilities | 2.86B | 2.88B | 1.99B | 2.08B | 1.87B | 1.84B |
| Common Stock | 199.00K | 199.00K | 199.00K | 199.00K | 199.00K | 199.00K |
| Additional Paid-In Capital | 729.55M | 730.14M | 711.54M | 699.81M | 689.96M | 678.41M |
| Retained Earnings | 853.76M | 852.07M | 977.55M | 932.47M | 1.00B | 962.38M |
| Treasury Stock | -261.71M | -277.80M | -286.01M | -281.32M | -252.61M | -232.30M |
| Comprehensive Income & Other | 1.70M | -1.13M | 6.83M | 621.00K | 1.47M | 2.59M |
| Shareholders' Equity | 1.32B | 1.30B | 1.41B | 1.35B | 1.44B | 1.41B |
| Total Liabilities & Equity | 4.19B | 4.18B | 3.40B | 3.43B | 3.31B | 3.25B |
| Total Debt | 2.01B | 2.08B | 1.36B | 1.35B | 1.19B | 1.21B |
| Net Cash (Debt) | -1.96B | -2.07B | -1.35B | -1.33B | -1.03B | -1.02B |
| Net Cash Per Share | -9.21 | -9.77 | -6.38 | -6.23 | -4.82 | -4.80 |
| Filing Date Shares Outstanding | 212.06M | 211.55M | 210.84M | 210.57M | 211.27M | 211.54M |
| Total Common Shares Outstanding | 212.06M | 211.18M | 210.60M | 210.42M | 211.13M | 211.39M |
| Working Capital | -231.87M | -247.06M | 107.76M | 28.56M | 240.51M | 226.20M |
| Book Value Per Share | 6.24 | 6.17 | 6.70 | 6.42 | 6.84 | 6.68 |
| Tangible Book Value | -689.09M | -728.95M | 103.85M | 16.24M | 233.66M | 170.60M |
| Tangible Book Value Per Share | -3.25 | -3.45 | 0.49 | 0.08 | 1.11 | 0.81 |
| Land | 134.53M | 130.22M | 128.41M | 111.79M | 112.73M | |
| Buildings | 626.44M | 624.34M | 615.89M | 553.61M | 550.95M | |
| Machinery | 1.80B | 1.76B | 1.70B | 1.49B | 1.44B | |
| Construction In Progress | 63.52M | 60.55M | 58.59M | 137.63M | 87.37M |
Cash flow statement
Fiscal year February - January; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 55.17M | 83.83M | 248.12M | 123.42M | 228.39M | 206.19M |
| Depreciation & Amortization | 150.50M | 149.23M | 141.11M | 137.51M | 131.76M | 126.66M |
| Other Amortization | 18.20M | 18.20M | 18.10M | 14.20M | 10.20M | 9.90M |
| Asset Writedown & Restructuring Costs | 135.98M | 141.48M | 10.31M | 9.61M | 3.90M | |
| Stock-Based Compensation | 32.47M | 32.31M | 29.74M | 26.95M | 25.82M | 21.34M |
| Provision & Write-off of Bad Debts | 6.66M | 7.43M | 8.30M | 8.41M | 8.52M | 6.07M |
| Other Operating Activities | 14.68M | 22.18M | 38.42M | -36.86M | 2.30M | 8.46M |
| Change in Accounts Receivable | -21.96M | -4.95M | -4.51M | 5.01M | -55.42M | -10.60M |
| Change in Inventory | -3.24M | -15.42M | 8.23M | -15.16M | -37.40M | -9.77M |
| Change in Accounts Payable | 1.87M | 40.20M | -59.64M | -26.59M | 82.12M | 38.08M |
| Change in Other Net Operating Assets | 30.95M | -28.27M | -25.51M | 102.86M | -39.30M | -51.72M |
| Operating Cash Flow | 421.29M | 446.20M | 412.66M | 349.35M | 360.89M | 344.61M |
| Capital Expenditures | -115.22M | -127.11M | -132.09M | -129.08M | -169.07M | -200.65M |
| Sale of Property, Plant & Equipment | 616.00K | 616.00K | 2.14M | 2.31M | 7.68M | 3.00M |
| Cash Acquisitions | -48.00K | -791.93M | -274.75M | |||
| Sale (Purchase) of Intangibles | 23.11M | -10.20M | ||||
| Investment in Securities | -1.98M | -9.00M | ||||
| Other Investing Activities | -24.99M | -24.73M | -42.72M | -310.00K | 19.30M | 16.42M |
| Investing Cash Flow | -116.53M | -943.15M | -172.67M | -403.81M | -151.09M | -191.44M |
| Short-Term Debt Issued | 220.00K | 799.00K | 261.00K | |||
| Long-Term Debt Issued | 1.01B | 323.70M | 898.00M | 330.00M | 497.57M | |
| Total Debt Issued | 192.10M | 1.01B | 323.70M | 898.22M | 330.80M | 497.83M |
| Short-Term Debt Repaid | -10.82M | -3.72M | ||||
| Long-Term Debt Repaid | -266.38M | -351.57M | -744.82M | -331.60M | -581.17M | |
| Total Debt Repaid | -263.70M | -277.21M | -355.29M | -744.82M | -331.60M | -581.17M |
| Net Debt Issued (Repaid) | -71.60M | 728.97M | -31.59M | 153.40M | -798.00K | -83.34M |
| Repurchase of Common Stock | -3.82M | -5.50M | -22.70M | -45.80M | -34.59M | -9.51M |
| Common Dividends Paid | -185.56M | -209.31M | -203.03M | -195.22M | -186.50M | -175.90M |
| Other Financing Activities | -2.06M | -10.12M | -190.00K | -533.00K | -282.00K | -6.02M |
| Financing Cash Flow | -263.04M | 504.05M | -257.52M | -88.15M | -222.17M | -274.78M |
| Foreign Exchange Rate Adjustments | -8.37M | |||||
| Net Cash Flow | 41.72M | 7.09M | -17.52M | -142.61M | -20.74M | -121.61M |
| Free Cash Flow | 306.06M | 319.09M | 280.58M | 220.28M | 191.82M | 143.96M |
| Free Cash Flow Margin | 5.86% | 6.07% | 5.50% | 4.33% | 3.99% | 3.32% |
| Free Cash Flow Per Share | 1.44 | 1.50 | 1.32 | 1.03 | 0.90 | 0.68 |
| Levered Free Cash Flow | 298.54M | 221.08M | 156.99M | 312.92M | 175.26M | 106.66M |
| Unlevered Free Cash Flow | 348.93M | 268.99M | 180.19M | 335.80M | 193.34M | 126.37M |
| Cash Interest Paid | 60.36M | 60.36M | 35.95M | 34.59M | 27.59M | 52.62M |
| Cash Income Tax Paid | 29.04M | 29.04M | 46.38M | 99.12M | 53.04M | 69.40M |
| Change in Working Capital | 7.62M | -8.44M | -81.44M | 66.12M | -49.99M | -34.01M |
Ratios
Fiscal year February - January; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.33B | 2.28B | 4.31B | 4.75B | 6.07B | 5.81B |
| Enterprise Value | 3.28B | 4.39B | 5.68B | 6.06B | 7.09B | 6.76B |
| Last Close Price | 6.27 | 10.12 | 17.94 | 18.93 | 23.26 | 21.54 |
| PE Ratio | 24.06 | 27.18 | 17.38 | 38.51 | 26.57 | 28.16 |
| Forward PE | 9.16 | 10.95 | 15.79 | 18.00 | 22.18 | 22.45 |
| PS Ratio | 0.25 | 0.43 | 0.84 | 0.93 | 1.26 | 1.34 |
| PB Ratio | 1.00 | 1.75 | 3.06 | 3.52 | 4.20 | 4.12 |
| P/TBV Ratio | 41.51 | 292.56 | 25.97 | 34.04 | ||
| P/FCF Ratio | 4.34 | 7.14 | 15.37 | 21.57 | 31.63 | 40.34 |
| P/OCF Ratio | 3.16 | 5.11 | 10.45 | 13.60 | 16.81 | 16.85 |
| PEG Ratio | 8.02 | 3.80 | 12.83 | 6.83 | 67.42 | |
| EV/Sales Ratio | 0.63 | 0.83 | 1.11 | 1.19 | 1.48 | 1.56 |
| EV/EBITDA Ratio | 6.75 | 8.52 | 10.90 | 12.42 | 14.26 | 15.79 |
| EV/EBIT Ratio | 9.76 | 12.00 | 14.96 | 17.30 | 19.40 | 22.30 |
| EV/FCF Ratio | 10.73 | 13.75 | 20.24 | 27.50 | 36.95 | 46.93 |
| Debt / Equity Ratio | 1.52 | 1.60 | 0.96 | 1.00 | 0.83 | 0.86 |
| Debt / EBITDA Ratio | 3.18 | 3.15 | 2.10 | 2.28 | 2.00 | 2.29 |
| Debt / FCF Ratio | 6.56 | 6.53 | 4.84 | 6.13 | 6.22 | 8.39 |
| Net Debt / Equity Ratio | 1.48 | 1.59 | 0.96 | 0.98 | 0.71 | 0.72 |
| Net Debt / EBITDA Ratio | 4.01 | 4.03 | 2.60 | 2.72 | 2.07 | 2.39 |
| Net Debt / FCF Ratio | 6.39 | 6.49 | 4.83 | 6.03 | 5.36 | 7.10 |
| Asset Turnover | 1.23 | 1.39 | 1.50 | 1.51 | 1.46 | 1.32 |
| Inventory Turnover | 8.74 | 9.57 | 9.66 | 10.26 | 11.22 | 10.96 |
| Quick Ratio | 0.42 | 0.40 | 0.65 | 0.58 | 0.91 | 0.95 |
| Current Ratio | 0.77 | 0.75 | 1.20 | 1.04 | 1.43 | 1.44 |
| Return on Equity (ROE) | 4.01% | 6.18% | 17.97% | 8.83% | 16.00% | 14.81% |
| Return on Assets (ROA) | 4.93% | 6.02% | 6.95% | 6.50% | 6.95% | 5.76% |
| Return on Invested Capital (ROIC) | 7.04% | 8.67% | 10.52% | 10.69% | 11.39% | 9.57% |
| Return on Capital Employed (ROCE) | 10.60% | 11.40% | 13.30% | 12.70% | 13.30% | 11.10% |
| Earnings Yield | 4.16% | 3.68% | 5.76% | 2.60% | 3.76% | 3.55% |
| FCF Yield | 23.02% | 14.00% | 6.51% | 4.63% | 3.16% | 2.48% |
| Dividend Yield | 7.97% | 9.11% | 4.64% | 4.03% | 3.03% | 3.02% |
| Payout Ratio | 285.90% | 249.69% | 81.83% | 158.18% | 81.66% | 85.31% |
| Buyback Yield / Dilution | -0.12% | 0.01% | 0.57% | -0.06% | -0.09% | -0.32% |
| Total Shareholder Return | 7.85% | 9.12% | 5.21% | 3.97% | 2.94% | 2.70% |