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FLO

Flowers Foods, Inc.

FLO

Flowers Foods, Inc. • NYSE
$10.73 ▲ 1.30% (+0.14)
Market Cap $2.27 B
52w High $22.91
52w Low $10.34
Dividend Yield 0.98%
P/E 11.79
Volume 2.97M
Outstanding Shares 211.18M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.227B ▼ $521.335M ▲ $39.534M ▼ 3.223% ▼ $0.19 ▼ $110.244M ▼
Q2-2025 $1.243B ▼ $513.363M ▼ $58.365M ▲ 4.696% ▲ $0.28 ▲ $137.166M ▼
Q1-2025 $1.554B ▲ $690.751M ▲ $52.998M ▲ 3.41% ▼ $0.25 ▲ $140.144M ▲
Q4-2024 $1.111B ▼ $481.309M ▼ $43.122M ▼ 3.881% ▼ $0.2 ▼ $101.884M ▼
Q3-2024 $1.191B $502.173M $64.984M 5.458% $0.31 $131.539M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $16.731M ▲ $4.35B ▲ $2.929B ▲ $1.42B ▼
Q2-2025 $11.045M ▲ $4.345B ▲ $2.917B ▲ $1.428B ▲
Q1-2025 $7.34M ▲ $4.327B ▲ $2.911B ▲ $1.416B ▲
Q4-2024 $5.005M ▼ $3.4B ▼ $1.99B ▼ $1.41B ▲
Q3-2024 $14.975M $3.43B $2.023B $1.407B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $39.534M ▼ $54.36M ▼ $-24.007M ▲ $-24.667M ▲ $5.686M ▲ $30.421M ▼
Q2-2025 $58.365M ▲ $130.829M ▼ $-35.373M ▲ $-91.751M ▼ $3.705M ▲ $100.019M ▼
Q1-2025 $52.998M ▲ $135.634M ▲ $-836.014M ▼ $702.715M ▲ $2.335M ▲ $110.078M ▲
Q4-2024 $43.122M ▼ $130.294M ▲ $-59.727M ▼ $-80.537M ▼ $-9.97M ▼ $84.83M ▼
Q3-2024 $64.984M $113.949M $-36.437M $-69.403M $8.109M $88.576M

Revenue by Products

Product Q1-2018Q2-2018Q3-2018Q4-2018
Direct Store Delivery
Direct Store Delivery
 $1.02Bn ▲$800.00M ▼$780.00M ▼$750.00M ▼
Warehouse Delivery
Warehouse Delivery
 $190.00M ▲$140.00M ▼$140.00M ▲$130.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has trended upward over the past few years, showing that Flowers Foods continues to grow in a slow‑but‑steady way. Demand looks resilient, which fits with its role as a basic food supplier rather than a highly cyclical business. Profitability dipped in the middle of the period as costs (like ingredients, labor, and logistics) squeezed margins, but there has been a clear recovery more recently. Both operating profit and earnings have improved, suggesting that pricing actions, mix shift toward premium brands, and efficiency programs are starting to show through. Overall, the income statement paints a picture of a stable business that went through a cost-pressure phase but is now regaining profitability, though not in a dramatic way—more of a gradual, controlled improvement.

Balance Sheet

Balance Sheet The balance sheet looks reasonably solid but not especially conservative. Total assets and equity have been fairly steady, indicating no big swings in the scale of the business or its capital base. Debt levels are meaningful but not extreme, and they have inched up rather than surged. The main watchpoint is very low cash on hand, which means the company relies more on ongoing cash generation and access to credit than on a large cash cushion. In simple terms, the company is not overextended, but it doesn’t have a lot of excess liquidity. Balance sheet strength is adequate, supported by a long history and stable business, but not a standout fortress position.

Cash Flow

Cash Flow Cash flow from operations has been consistently positive, which is important for a food manufacturer with steady demand. Even in tougher cost years, the company still generated solid cash from its core business. Capital spending has been moderate and fairly stable, allowing for ongoing investment in plants, automation, and systems without overwhelming the cash profile. After these investments, free cash flow has remained positive every year, with a noticeable improvement in the most recent period. This pattern suggests a business that reliably converts profits into cash and has enough room to fund investments, dividends, and debt service, while still retaining some flexibility—though not with an abundance of surplus cash on the balance sheet.

Competitive Edge

Competitive Edge Flowers Foods holds a strong position as one of the largest packaged bakery companies in the U.S., backed by a portfolio of well-known brands. Its strength is especially visible in key niches like organic, gluten‑free, and other “better‑for‑you” breads, where its brands often lead their categories. A major advantage is its direct‑store‑delivery network, which helps keep shelves stocked with fresh product and deepens relationships with retailers. This system is difficult and expensive for new entrants to replicate, giving Flowers a structural edge. The main competitive pressures come from a much larger global rival and from store brands that compete primarily on price. Flowers combats this by leaning on brand loyalty, product differentiation, and targeted innovation rather than trying to win every segment of the bread aisle.

Innovation and R&D

Innovation and R&D Innovation at Flowers is focused less on lab‑style R&D and more on smart product development and process improvement. On the operations side, the “Bakery of the Future” and investments in automation, data, and supply chain systems are aimed at making plants more efficient, reducing waste, and improving reliability. These efforts help support margins over time. On the product side, the company is clearly leaning into health and wellness trends: organic, gluten‑free, keto, higher‑protein, and smaller‑portion offerings. Recent and planned launches, plus acquisitions like Simple Mills, show a strategy of owning the “better‑for‑you” corner of the bakery and snack market. Overall, Flowers is using innovation to sharpen its cost base and to stay relevant with changing consumer tastes, rather than trying to reinvent its business model from scratch.

Summary

Flowers Foods comes across as a mature, steady consumer staples business with a focus on bread and bakery products. Revenue has grown gradually, profits dipped when costs were high but are now recovering, and cash generation has been consistently healthy. The balance sheet carries moderate debt and very little cash, which is manageable given stable cash flows but leaves less of a buffer for major shocks. Still, the company’s long history, entrenched brands, and essential product category provide some natural stability. Competitively, Flowers trades sheer scale for strength in specific, higher‑value niches and a powerful distribution network. Its strategy of combining efficiency investments with health‑oriented innovation and targeted acquisitions is designed to defend and slowly expand its moat. Overall, the story is one of incremental improvement rather than dramatic transformation: a solid, defensive bakery business leaning on brands, distribution, and “better‑for‑you” innovation to support margins and modest growth in a mature market.

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