Floor & Decor Holdings Inc., founded in 2000, is a specialty retailer offering a diverse range of hard surface flooring products such as ceramic, porcelain, natural stone, wood, and laminate. Under the leadership of CEO Doug Pitman since 2018, the company has grown its network to over 160 stores across the United States while capturing an estimated 5-6% market share in its niche. It leverages exclusive product lines like its Premium Collection and efficient supply chain operations to serve both professional contractors and DIY homeowners. With plans to expand its store footprint and enhance digital initiatives, Floor & Decor is well-positioned to capitalize on rising consumer demand in the flooring market.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
4,684,090
4,455,770
4,413,880
4,264,470
Cost of Sales
2,640,180
2,527,520
2,555,540
2,536,760
Gross Profit
2,043,910
1,928,250
1,858,350
1,727,720
Selling, General & Administrative Expenses
1,773,840
1,672,080
1,536,920
1,292,310
Other Operating Expenses
—
—
—
38,642
Operating Profit
270,070
256,176
321,428
396,760
Interest Expense
(3,409)
(2,773)
(9,897)
(11,138)
Total Non-Operating Income
(3,409)
(2,773)
(9,897)
(11,138)
Income Before Provision for Income Taxes
266,661
253,403
311,531
385,622
Provision for Income Taxes
58,014
47,531
65,551
87,427
Consolidated Net Income
208,647
205,872
245,980
298,195
Net Income Attributable to Common Shareholders
208,647
205,872
245,980
298,195
Basic EPS
1.94
1.92
2.31
2.82
Diluted EPS
1.92
1.90
2.28
2.78
Basic Weighted Average Shares Outstanding
107,639
107,075
106,264
105,626
Diluted Weighted Average Shares Outstanding
108,419
108,319
107,882
107,443
Shares Outstanding
107,774
107,357
106,738
106,151
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
249,296
187,669
34,382
9,794
Total Cash and Cash Equivalents
249,296
187,669
34,382
9,794
Accounts Receivable
94,068
101,486
99,513
94,732
Other Receivables
7,270
21,735
27,870
7,325
Total Trade Receivables
101,338
123,221
127,383
102,057
Inventories
1,133,080
1,132,600
1,106,150
1,292,340
Other Current Assets
44,214
48,896
48,725
53,298
Total Current Assets
1,527,930
1,492,390
1,316,640
1,457,490
Net Property, Plant & Equipment
3,473,900
3,117,830
2,912,540
2,463,690
Net Intangible Assets
146,536
150,203
153,869
152,353
Goodwill
257,940
257,940
257,940
255,473
Other Long-Term Assets
63,052
32,125
21,559
22,239
Total Assets
5,469,360
5,050,480
4,662,550
4,351,240
Accounts Payable
683,675
794,855
679,265
590,883
Accrued Expenses
298,740
295,425
332,940
298,019
Current Portion of Long-Term Debt
2,629
2,103
2,103
2,103
Current Portion of Leases
155,661
138,646
126,428
105,693
Unearned Revenue
10,685
13,163
11,277
10,060
Total Current Liabilities
1,151,390
1,244,190
1,152,010
1,006,760
Long-Term Debt
193,589
194,527
194,939
405,551
Leases
1,639,600
1,351,280
1,301,750
1,227,510
Other Long-Term Liabilities
75,945
90,319
82,854
54,250
Total Long-Term Liabilities
1,909,130
1,636,130
1,579,550
1,687,310
Total Liabilities
3,060,520
2,880,320
2,731,560
2,694,070
Common Stock
108
107
107
106
Additional Paid-in Capital
577,786
547,818
513,060
482,312
Accumulated Other Comprehensive Income
22
(40)
1,422
4,337
Retained Earnings
1,830,920
1,622,270
1,416,400
1,170,420
Total Common Shareholders' Equity
2,408,840
2,170,160
1,930,990
1,657,180
Total Shareholders' Equity
2,408,840
2,170,160
1,930,990
1,657,180
Total Liabilities and Shareholders' Equity
5,469,360
5,050,480
4,662,550
4,351,240
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
208,647
205,872
245,980
298,195
Depreciation & Amortization
241,160
232,473
201,869
155,023
Share-Based Compensation Expense
29,505
33,695
27,240
22,233
Other Adjustments
(20,407)
(570)
27,256
5,188
Changes in Trade Receivables
7,418
(1,973)
1,151
(12,150)
Changes in Inventories
(484)
(26,449)
194,890
(283,438)
Changes in Accounts Payable
(115,030)
122,338
96,985
(84,732)
Changes in Accrued Expenses
26,002
31,477
7,507
38,716
Changes in Income Taxes Payable
14,133
5,657
(18,413)
(8,865)
Changes in Unearned Revenue
(2,478)
1,886
1,217
(4,432)
Changes in Other Operating Activities
(6,630)
(1,251)
17,907
(13,288)
Cash from Operating Activities
381,836
603,155
803,589
112,450
Capital Expenditure
(317,764)
(446,826)
(547,613)
(456,600)
Proceeds from Sale of Property, Plant & Equipment
—
—
—
4,773
Payments for Business Acquisitions
—
—
(17,353)
(3,810)
Cash from Investing Activities
(317,764)
(446,826)
(564,966)
(455,637)
Issuance of Short-Term Debt
—
258,600
518,900
1,047,100
Repayments of Short-Term Debt
—
(258,600)
(729,100)
(836,900)
Net Issuance / (Repayments) of Short-Term Debt
—
0
(210,200)
210,200
Repayments of Long-Term Debt
(2,103)
(2,103)
(2,103)
(2,103)
Net Issuance / (Repayments) of Long-Term Debt
(2,103)
(2,103)
(2,103)
(2,103)
Issuance of Common Shares
9,423
15,574
16,119
11,971
Repurchases of Common Shares
(8,959)
(14,511)
(12,610)
(2,224)
Net Issuance / (Repurchases) of Common Shares
464
1,063
3,509
9,747
Other Financing Activities
(806)
(2,002)
(5,241)
(4,307)
Cash from Financing Activities
(2,445)
(3,042)
(214,035)
213,537
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash