FND Floor & Decor Holdings, Inc.

Overview and Growth

In fiscal 2025, Floor & Decor Holdings, Inc. recorded $4.68B of revenue, net income of $208.65M, and an operating cash inflow of $381.84M. Revenue of $4.68B sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 5.1% above fiscal 2024 revenue of $4.46B, marking a year-over-year increase. Diluted earnings per share were $1.92, translating the period’s attributable earnings into the amount reported for each diluted share. Against diluted EPS of $1.90 in fiscal 2024, the current result was 1.1% higher. The revenue-to-assets relationship was 0.86x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

Gross profit was $2.04B, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross margin was 43.6%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operations produced $270.07M of income after the reported operating expense base, before the remaining non-operating and tax effects. Relative to revenue, operating income represented 5.8%, showing how efficiently sales converted into operating profit. After all reported below-operating-line items, the company recorded net income of $208.65M for the fiscal year. Measured against reported revenue, net income produced a 4.5% margin after operating costs and the remaining recognized items. Pretax income was $266.66M, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. The pretax margin was 5.7%, relating income before taxes directly to revenue. The company recognized $58.01M of income tax for the period, completing the transition from pretax income to net income. The effective relationship between income tax and positive pretax income was 21.8%, without assuming a statutory-rate comparison.

Liquidity and Capital Structure

At period end, the $5.47B asset base was financed through $3.06B of liabilities and $2.41B of equity. The near-term balance sheet paired $1.53B of current assets with $1.15B of current liabilities at the reporting date. At 1.33x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Cash and equivalents totaled $249.30M, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 21.7% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Total debt was $196.22M, establishing the amount of borrowing carried within the company’s capital structure. Against book equity, debt measured 0.08x, placing the company’s financial leverage in clear balance-sheet terms. The debt-to-assets relationship was 3.6%, comparing borrowing with the total asset balance. Relative to total assets, liabilities measured 56.0%, complementing the separate equity-based view of the company’s capital structure. Cash and equivalents equaled 4.6% of total assets, showing the liquid cash component within the company’s broader resource base. Compared with $5.05B in fiscal 2024, the current asset base moved 8.3% and finished higher.

Cash Flow and Earnings Quality

The company reported $381.84M of operating cash flow, a cash inflow that shows the cash generated by operations. The operating-cash-flow-to-net-income relationship was 1.83x, comparing cash generated by operations with the bottom-line earnings result. Capital expenditures used $317.76M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital spending absorbed 83.2% of operating cash flow, quantifying the share of cash from operations directed to investment. The combination of operating cash flow and capital spending produced $64.07M of positive free cash flow for the period. The free-cash-flow margin was 1.4%, measuring cash remaining after capital spending against revenue. The free-cash-flow-to-assets relationship was 1.2%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Dec 25, 2025. Analysis generated Oct 21, 2026.