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FND

Floor & Decor Holdings, Inc.

FND

Floor & Decor Holdings, Inc. • NYSE
$63.62 ▼ -1.82% (-1.18)
Market Cap $6.85 B
52w High $115.52
52w Low $55.11
Dividend Yield 0%
P/E 31.81
Volume 1.07M
Outstanding Shares 107.74M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.18B ▼ $371.433M ▼ $57.26M ▼ 4.854% ▼ $0.53 ▼ $133.894M ▼
Q2-2025 $1.214B ▲ $450.794M ▲ $63.178M ▲ 5.203% ▲ $0.59 ▲ $141.882M ▲
Q1-2025 $1.161B ▲ $443.939M ▲ $48.878M ▲ 4.211% ▼ $0.45 ▲ $124.194M ▲
Q4-2024 $1.107B ▼ $422.101M ▲ $47.484M ▼ 4.288% ▼ $0.44 ▼ $119.003M ▼
Q3-2024 $1.118B $419.553M $51.69M 4.624% $0.48 $124.2M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $204.484M ▲ $5.521B ▲ $3.159B ▲ $2.362B ▲
Q2-2025 $176.876M ▼ $5.411B ▲ $3.117B ▼ $2.294B ▲
Q1-2025 $186.93M ▼ $5.368B ▲ $3.147B ▲ $2.222B ▲
Q4-2024 $187.669M ▲ $5.05B ▲ $2.88B ▲ $2.17B ▲
Q3-2024 $180.771M $4.932B $2.821B $2.111B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $57.26M ▼ $102.492M ▲ $-78.012M ▲ $3.128M ▲ $27.608M ▲ $24.48M ▲
Q2-2025 $63.178M ▲ $84.112M ▲ $-94.099M ▼ $-67K ▲ $-10.054M ▼ $-9.987M ▼
Q1-2025 $48.878M ▲ $71.164M ▼ $-66.728M ▲ $-5.175M ▼ $-739K ▼ $4.436M ▲
Q4-2024 $47.484M ▼ $101.387M ▼ $-97.466M ▲ $2.977M ▼ $6.898M ▼ $3.921M ▼
Q3-2024 $51.69M $160.288M $-123.746M $6.166M $42.708M $36.542M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Adjacent Categories
Adjacent Categories
 $30.00M ▲$30.00M ▲$30.00M ▲$30.00M ▲
Installation Materials And Tools
Installation Materials And Tools
 $230.00M ▲$240.00M ▲$250.00M ▲$250.00M ▲
Natural Stone
Natural Stone
 $50.00M ▲$50.00M ▲$50.00M ▲$50.00M ▲
Product and Service Other
Product and Service Other
 $20.00M ▲$20.00M ▲$30.00M ▲$30.00M ▲
Tile
Tile
 $250.00M ▲$260.00M ▲$280.00M ▲$270.00M ▼
Wood
Wood
 $70.00M ▲$80.00M ▲$90.00M ▲$80.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Floor & Decor shows a clear pattern of steady sales growth over the past five years, even after the big home-improvement boom during the pandemic. The top line has kept moving upward, which suggests the concept continues to attract both new and repeat customers. Profitability, however, has softened from its peak. While gross profit has grown along with sales, operating income and net income have slipped from earlier highs. This points to margin pressure – likely from higher costs, a more promotional environment, ongoing investments in growth, or a mix of all three. In plain terms: the business is selling more, but making a bit less on each dollar than it did at its best point. Earnings per share follow the same pattern as net income: strong compared with a few years ago, but off the highs. Overall, the income statement reflects a mature high-growth retailer transitioning from a surge period into a more normal, competitive environment where efficiency and cost control matter more.

Balance Sheet

Balance Sheet The balance sheet has grown steadily, with total assets and shareholders’ equity rising year after year. This is what you’d expect from a chain that keeps opening new stores and building out infrastructure. Debt levels have been relatively stable, increasing only gradually as the company scales. That suggests a controlled use of borrowing rather than an aggressive, high‑risk buildout. Equity has grown faster than debt, which indicates that retained earnings and reinvestment are playing a large role in funding expansion. Cash on hand has moved around more: it was comfortable earlier in the period, dipped very low at one point, and then recovered somewhat. The company does not appear to run with a large cash cushion, so ongoing access to credit lines and continued healthy cash generation are important. Overall, the balance sheet looks expansion‑oriented but not highly stretched, with leverage used as a tool rather than a crutch.

Cash Flow

Cash Flow Operating cash flow has been generally solid over this five‑year stretch, with some volatility. There was a notable dip in one year, but the business quickly returned to generating healthy cash from operations, which is critical for any retailer funding growth. Free cash flow tells the real story: the company has been consistently spending heavily on new stores, distribution, and technology. In the middle of the period, those investments were so large that free cash flow turned negative for a time. More recently, free cash flow has moved back into positive territory as cash generation strengthened and investment remained high but more balanced. In short, Floor & Decor has been in “build mode,” deliberately pouring cash into growth projects. The recent return to positive free cash flow suggests that, while expansion is still a priority, the business is reaching a scale where it can both grow and fund itself more comfortably from its own cash generation.

Competitive Edge

Competitive Edge Floor & Decor occupies a focused niche: hard‑surface flooring and related materials. Instead of trying to be a general home‑improvement warehouse, it behaves like a category specialist with a very wide selection, high in‑stock availability, and large, warehouse‑style stores. This gives it a clear identity versus big‑box chains and small local shops. Its direct sourcing model is a core advantage. By working directly with hundreds of suppliers around the world, the company can offer a broad, fashion‑forward range of products at competitive prices while protecting its margins. These long‑term supplier relationships, and the ability to co‑develop exclusive products, are difficult for smaller rivals to match. The heavy focus on professional customers – and the decision not to compete with them on installation – further strengthens its moat. Dedicated pro services, rewards programs, and job‑site support make the brand part of the contractor’s toolkit, not just another store. The integrated online and in‑store experience, including design help and inventory visibility, adds another layer of differentiation. Risks to this position include economic sensitivity (flooring is discretionary), competition from large home‑improvement chains and online players, and the execution challenge of opening many new stores while maintaining service and inventory quality.

Innovation and R&D

Innovation and R&D The company does not run a traditional lab‑style R&D program. Instead, its innovation is very practical and customer‑facing, centered on technology, merchandising, and service design. On the digital side, Floor & Decor has built an omnichannel experience around how customers actually shop today: starting online, researching heavily, then visiting a store. Its tools include augmented reality room visualizers, design planning features, and a system that lets shoppers build quotes in‑store and complete purchases later online. These reduce friction, build confidence, and link the website tightly to the store visit. Behind the scenes, data and technology are used to manage a complex global supply chain, monitor inventory in real time, and maintain consistency across large flooring orders. The company also experiments with new categories such as countertops, vanities, and related décor, as well as expanding into commercial flooring through acquisitions. Overall, innovation here is about better experiences and smarter operations rather than breakthrough products. The key watchpoints are continued upgrades to digital tools, deeper integration between online and physical channels, and how well adjacent categories and commercial offerings ramp over time.

Summary

Floor & Decor today looks like a scaled, still‑growing specialty retailer coming off a period of exceptional demand. Revenue continues to rise and the store base continues to expand, supported by a balance sheet that appears managed for growth rather than short‑term optimization. The main trade‑off is that profit margins and earnings have come down from earlier peaks, a sign of a more competitive and cost‑pressured environment. Cash flow shows that management has chosen to invest heavily in new stores, technology, and supply‑chain capabilities; that spending depressed free cash flow for a while but now seems better aligned with the company’s cash‑generating capacity. Strategically, the business enjoys several meaningful advantages: a direct sourcing model, very large and well‑stocked stores, a clear identity in hard‑surface flooring, strong ties to professional customers, and ongoing digital and operational innovation. At the same time, it remains exposed to cycles in housing and remodeling, competition from larger chains and online players, and the risk that rapid expansion could strain service or returns on new investments. Overall, the picture is of a focused, well‑positioned specialty retailer with solid growth and a real moat, but also with margin and execution questions that will likely drive how its story evolves from here.

NEWS

November 20, 2025 · 4:35 PM UTC

Floor & Decor Announces Grand Opening of Vancouver, Washington Store

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November 20, 2025 · 8:35 AM UTC

Floor & Decor Announces Grand Opening of Mount Pleasant, South Carolina Store

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November 18, 2025 · 4:35 PM UTC

Floor & Decor Announces Grand Opening of Woodinville, Washington Store

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November 17, 2025 · 4:35 PM UTC

Floor & Decor Announces Grand Opening of Eagle, Idaho Store

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November 6, 2025 · 4:35 PM UTC

Floor & Decor Announces Grand Opening of Cortlandt Manor, New York Store

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