A Business at a Glance
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Floor & Decor Holdings, Inc.
FND
$5.8B
Mkt Cap
$53.75
+1.34%
Floor & Decor Holdings, Inc. (FND) has a current P/E ratio of 28.0, compared to its historical median P/E of 48.1. The stock is currently considered Cheap based on its historical valuation range.
Floor & Decor Holdings, Inc. (FND) has a 5-year average return on invested capital (ROIC) of 13.6%. This indicates solid capital allocation.
Floor & Decor Holdings, Inc. (FND) has a market capitalization of $5.8B. It is classified as a mid-cap stock.
Floor & Decor Holdings, Inc. (FND) does not currently pay a regular dividend.
Based on historical P/E analysis, Floor & Decor Holdings, Inc. (FND) appears cheap. The current P/E of 28.0 is 42% below its historical median of 48.1. The estimated fair value CAGR (P/E method) is 7.1%.
Floor & Decor Holdings, Inc. (FND) operates in the Retail-Lumber & Other Building Materials Dealers industry, within the Consumer Cyclical sector.
Floor & Decor Holdings, Inc. (FND) reported annual revenue of $4.7 billion in its most recent fiscal year, based on SEC EDGAR filings.
Floor & Decor is a multi-channel specialty retailer of hard surface flooring and related accessories founded in 2000, operating 270 warehouse-format stores averaging approximately 76,000 square feet and five small-format design studios across 39 states as of December 2025. The company serves professional installers and commercial businesses ("Pro"), do-it-yourself customers ("DIY"), and buy-it-yourself customers ("BIY"), with Pro customers representing approximately 50% of sales. Floor & Decor's business model centers on direct sourcing from manufacturers and quarries to offer everyday low prices rather than frequent promotions, combined with an extensive in-stock assortment of approximately 4,200 SKUs per store across laminate, vinyl, tile, wood, and natural stone flooring, plus installation materials, tools, decorative accessories, and adjacent categories such as vanities and kitchen cabinets. The company distributes through its warehouse stores, website (FloorandDecor.com) with in-store pickup and delivery options, and through its commercial platform Spartan Surfaces, which generated approximately $243 million in sales in fiscal 2025 and serves healthcare, education, hospitality, and senior living segments. Unit economics are characterized by store-level customization of assortment for local market preferences, with new store classes achieving average first-year sales of approximately $11 million, and capital spending per store for the 2025 class at $10.2 million. The company's competitive moat derives from its scale, direct global sourcing model (with the United States now accounting for approximately 27% of products sold), broad in-stock inventory depth, warehouse format differentiation, and supply house positioning with Pro customers through initiatives including targeted pricing, delivery enhancements, and loyalty programs.
【Cautious demand recovery ahead】 Management expects the hard surface flooring category to remain under pressure through the remainder of fiscal 2026, driven by elevated mortgage rates, housing affordability challenges, and weak consumer sentiment, though customer engagement metrics including quoting activity and sample volume remain solid. The company anticipates gradual sequential improvement in the coming quarters as a solid backlog of quotes converts to sales, supported by initiatives including PRO Loyalty 2.0 relaunch in early 2027 with expanded personalization and enhanced delivery offerings, as well as modest retail pricing actions to offset tariff-related costs and maintain gross margin performance. Capital allocation priorities remain disciplined, with focus on new store openings in Tier I and Tier II markets, investments in commercial flooring platforms and new growth concepts including outdoor and unfinished flooring offerings, and share repurchase activity only after core business investments are met, with no incremental debt planned to support buybacks. Management is committed to maintaining operational discipline and cost management while positioning the company to take market share and exceed customer expectations as housing market conditions gradually improve.
| Metric | Target | Period |
|---|---|---|
| Sales | $4,770,000,000–$4,990,000,000 | FY2026 |
| Comparable store sales | flat to down 4% | FY2026 |
| Gross margin | approximately 43.6%–43.8% | FY2026 |
| Interest expense net | approximately $4 million | FY2026 |
| Tax rate | approximately 22.5%–23.0% | FY2026 |
| Depreciation and amortization | approximately $250 million | FY2026 |
| Adjusted EBITDA | approximately $545 million–$580 million | FY2026 |
| Diluted earnings per share | approximately $1.83–$2.08 | FY2026 |
| CapEx | approximately $250 million–$300 million | FY2026 |
Sales (FY2026): “Sales are expected to be in the range of $4,770,000,000-$4,990,000,000 , or increase by 1.8%-6.5% from fiscal 2025.”
Comparable store sales (FY2026): “Comparable store sales are estimated to be flat to down 4%.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 4.7B | 4.7B | 4.5B | 4.4B | 4.3B | 3.4B |
| Net Income | 199M | 209M | 206M | 246M | 298M | 283M |
| EPS | $1.85 | $1.92 | $1.90 | $2.28 | $2.78 | $2.64 |
| Free Cash Flow | 105M | 64M | 156M | 256M | -344M | -106M |
| ROIC | 8.6% | 9.3% | 9.7% | 11.6% | 12.3% | 25.2% |
| Gross Margin | 43.7% | 43.6% | 43.3% | 42.1% | 40.5% | 41.4% |
| Debt/Equity | 0.08 | 0.08 | 0.09 | 0.10 | 1.18 | 0.15 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 258M | 270M | 256M | 321M | 397M | 339M |
| Operating Margin | 5.5% | 5.8% | 5.7% | 7.3% | 9.3% | 9.9% |
| ROE | 8.1% | 9.1% | 10.0% | 13.7% | 20.0% | 24.4% |
| Shares Outstanding | 108M | 109M | 108M | 108M | 107M | 107M |
| Metric | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||
| Revenue | 784M | 1.1B | 1.4B | 1.7B | 2.0B | 2.4B | 3.4B | 4.3B | 4.4B | 4.5B | 4.7B | 4.7B |
| Gross Margin | 39.9% | 40.9% | 41.3% | 41.1% | 42.2% | 42.7% | 41.4% | 40.5% | 42.1% | 43.3% | 43.6% | 43.7% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 50M | 64M | 85M | 105M | 132M | 145M | 199M | 214M | 1.5B | 1.7B | 1.8B | 2.2B |
| EBIT | 52M | 69M | 118M | 131M | 159M | 215M | 339M | 397M | 321M | 256M | 270M | 258M |
| Op. Margin | 6.7% | 6.6% | 8.5% | 7.7% | 7.8% | 8.8% | 9.9% | 9.3% | 7.3% | 5.7% | 5.8% | 5.5% |
| Net Income | 27M | 43M | 103M | 116M | 151M | 195M | 283M | 298M | 246M | 206M | 209M | 199M |
| Net Margin | 3.4% | 4.1% | 7.4% | 6.8% | 7.4% | 8.0% | 8.2% | 7.0% | 5.6% | 4.6% | 4.5% | 4.3% |
| Non-Recurring | 152K | -451K | 0 | 0 | 4.1M | 14K | 438K | 20K | 925K | 2.1M | 524K | 524K |
| Returns on Capital | ||||||||||||
| ROIC | N/A | 13.0% | 20.4% | 18.3% | 19.8% | 22.7% | 25.2% | 12.3% | 11.6% | 9.7% | 9.3% | 8.6% |
| ROE | N/A | 19.3% | 35.6% | 22.6% | 22.3% | 22.1% | 24.4% | 20.0% | 13.7% | 10.0% | 9.1% | 8.1% |
| ROA | N/A | 10.4% | 10.8% | 10.1% | 8.5% | 7.5% | 8.6% | 7.4% | 5.5% | 4.2% | 4.0% | 3.6% |
| Cash Flow | ||||||||||||
| Op. Cash Flow | 20M | 89M | 109M | 186M | 205M | 406M | 301M | 112M | 804M | 603M | 382M | 420M |
| Free Cash Flow | -25M | 15M | 7.0M | 34M | 8.7M | 194M | -106M | -344M | 256M | 156M | 64M | 105M |
| Owner Earnings | -2.6M | 58M | 66M | 127M | 122M | 298M | 163M | -65M | 574M | 337M | 111M | 146M |
| CapEx | 45M | 75M | 102M | 151M | 196M | 212M | 408M | 457M | 548M | 447M | 318M | 314M |
| Maint. CapEx | 20M | 29M | 38M | 52M | 74M | 92M | 118M | 155M | 202M | 232M | 241M | 243M |
| Growth CapEx | 25M | 46M | 64M | 99M | 122M | 121M | 289M | 302M | 346M | 214M | 77M | 72M |
| D&A | 20M | 29M | 38M | 52M | 74M | 92M | 118M | 155M | 202M | 232M | 241M | 243M |
| CapEx/OCF | N/A | N/A | 93.6% | 81.6% | 95.8% | 52.3% | 135.3% | 406.0% | 68.1% | 74.1% | 83.2% | 74.9% |
| Capital Allocation | ||||||||||||
| Dividends Paid | 0 | 225M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 3.3M | 3.2M | 5.0M | 6.5M | 8.7M | 16M | 21M | 22M | 27M | 34M | 30M | 31M |
| Debt Repayment | 178M | 215M | 246M | 258M | 100M | 275M | 16M | 837M | 729M | 259M | 0 | 0 |
| Balance Sheet | ||||||||||||
| Net Debt | 1.3M | 390M | 189M | 145M | 116M | -99M | 58M | 1.9B | 163M | 9.0M | -53M | -98M |
| Cash & Equiv. | 318K | 451K | 556K | 644K | 27M | 308M | 139M | 9.8M | 34M | 188M | 249M | 294M |
| Long-Term Debt | N/A | 337M | 145M | 142M | 143M | 207M | 196M | 406M | 195M | 195M | 194M | N/A |
| Debt/Equity | N/A | 2.91 | 0.43 | 0.25 | 0.19 | 0.21 | 0.15 | 1.18 | 0.10 | 0.09 | 0.08 | 0.08 |
| Interest Coverage | 5.6 | 5.4 | 8.5 | 14.7 | 18.1 | 25.6 | 68.8 | 35.6 | 32.5 | 92.4 | 79.2 | 86.3 |
| Equity | N/A | 134M | 443M | 584M | 764M | 997M | 1.3B | 1.7B | 1.9B | 2.2B | 2.4B | 2.5B |
| Total Assets | N/A | 831M | 1.1B | 1.2B | 2.3B | 2.9B | 3.7B | 4.4B | 4.7B | 5.1B | 5.5B | 5.6B |
| Total Liabilities | N/A | 697M | 625M | 650M | 1.6B | 1.9B | 2.4B | 2.7B | 2.7B | 2.9B | 3.1B | 3.1B |
| Intangibles | N/A | 109M | 109M | 109M | 109M | 109M | 152M | 152M | 154M | 150M | 147M | 146M |
| Retained Earnings | N/A | 17M | 120M | 244M | 394M | 589M | 872M | 1.2B | 1.4B | 1.6B | 1.8B | 1.9B |
| Working Capital | N/A | 93M | 144M | 155M | 149M | 342M | 241M | 451M | 165M | 248M | 377M | 210M |
| Current Assets | N/A | 336M | 503M | 559M | 701M | 1.0B | 1.3B | 1.5B | 1.3B | 1.5B | 1.5B | 1.6B |
| Current Liabilities | N/A | 244M | 359M | 404M | 553M | 699M | 1.0B | 1.0B | 1.2B | 1.2B | 1.2B | 1.4B |
| Per Share Data | ||||||||||||
| EPS | 0.31 | 0.49 | 1.03 | 1.11 | 1.44 | 1.84 | 2.64 | 2.78 | 2.28 | 1.90 | 1.92 | 1.85 |
| Owner EPS | -0.03 | 0.66 | 0.66 | 1.21 | 1.17 | 2.82 | 1.52 | -0.60 | 5.32 | 3.11 | 1.02 | 1.35 |
| Book Value | N/A | 1.53 | 4.44 | 5.58 | 7.31 | 9.41 | 12.33 | 15.45 | 17.90 | 20.03 | 22.17 | 22.73 |
| Cash Flow/Share | 0.24 | 1.02 | 1.09 | 1.77 | 1.96 | 3.83 | 2.81 | 1.05 | 7.45 | 5.57 | 3.51 | 4.09 |
| Dividends/Share | N/A | 2.56 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 86.5M | 87.8M | 99.8M | 104.7M | 104.6M | 106.0M | 107.3M | 107.3M | 107.9M | 108.4M | 108.7M | 108.1M |
| Valuation | ||||||||||||
| P/E Ratio | N/A | N/A | 48.1 | 23.6 | 35.1 | 51.7 | 49.0 | 24.6 | 50.0 | 52.6 | 32.6 | 29.0 |
| P/FCF | N/A | N/A | 711.6 | 80.2 | 610.8 | 52.1 | N/A | N/A | 48.0 | 69.2 | 106.3 | 55.1 |
| EV/EBIT | N/A | N/A | 43.3 | 21.0 | 33.0 | 45.6 | 40.5 | 18.5 | 38.1 | 41.5 | 24.3 | 22.1 |
| Price/Book | N/A | N/A | 11.2 | 4.7 | 6.9 | 10.1 | 10.5 | 4.4 | 6.4 | 5.0 | 2.8 | 2.4 |
| Price/Sales | N/A | N/A | 2.8 | 2.6 | 2.2 | 2.7 | 3.5 | 2.1 | 2.3 | 2.7 | 1.8 | 1.2 |
| FCF Yield | N/A | N/A | 0.1% | 1.2% | 0.2% | 1.9% | -0.8% | -4.7% | 2.1% | 1.4% | 0.9% | 1.8% |
| Market Cap | 0 | N/A | 4.9B | 2.7B | 5.3B | 10.1B | 13.9B | 7.3B | 12.3B | 10.8B | 6.8B | 5.8B |
| Avg. Price | 0.00 | N/A | 38.76 | 42.25 | 42.06 | 60.80 | 112.04 | 83.21 | 94.51 | 110.01 | 79.04 | 53.75 |
| Year-End Price | 0.00 | N/A | 49.59 | 26.21 | 50.51 | 95.20 | 129.34 | 68.30 | 113.89 | 99.90 | 62.66 | 53.75 |
Floor & Decor Holdings, Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
Floor & Decor Holdings, Inc. trades at 28.0x trailing earnings, compared to its 15-year median P/E of 48.1x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 90.5x vs a median of 60.7x. The company's 5-year average ROIC is 13.6% with a gross margin of 42.2%. At current prices, the estimated annualized return to fair value is +17.1%.
Floor & Decor Holdings, Inc. (FND) has a net profit margin of 4.5%. This is a modest margin.
Floor & Decor Holdings, Inc. (FND) generated $64 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Floor & Decor Holdings, Inc. (FND) has a debt-to-equity ratio of 0.08. This indicates a conservatively financed balance sheet.
Floor & Decor Holdings, Inc. (FND) reported earnings per share (EPS) of $1.92 in its most recent fiscal year.
Floor & Decor Holdings, Inc. (FND) has a return on equity (ROE) of 9.1%. This indicates moderate shareholder returns.
Floor & Decor Holdings, Inc. (FND) has a 5-year average gross margin of 42.2%. This indicates decent pricing power.
The Ledger Terminal provides 11 years of financial data for Floor & Decor Holdings, Inc. (FND), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Floor & Decor Holdings, Inc. (FND) has a book value per share of $22.17, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects the hard surface flooring category to remain under pressure through the remainder of fiscal 2026, driven by elevated mortgage rates, housing affordability challenges, and weak consumer sentiment, though customer engagement metrics including quoting activity and sample volume remain solid. The company anticipates gradual sequential improvement in the coming quarters as a solid backlog of quotes converts to sales, supported by initiatives including PRO Loyalty 2.0 relaunch in early 2027 with expanded personalization and enhanced delivery offerings, as well as modest retail pricing actions to offset tariff-related costs and maintain gross margin performance. Capital allocation priorities remain disciplined, with focus on new store openings in Tier I and Tier II markets, investments in commercial flooring platforms and new growth concepts including outdoor and unfinished flooring offerings, and share repurchase activity only after core business investments are met, with no incremental debt planned to support buybacks. Management is committed to maintaining operational discipline and cost management while positioning the company to take market share and exceed customer expectations as housing market conditions gradually improve.
Based on recent SEC filings and earnings calls, Floor & Decor Holdings, Inc. (FND) has provided the following forward guidance: Sales: $4,770,000,000–$4,990,000,000 (FY2026); Comparable store sales: flat to down 4% (FY2026); Gross margin: approximately 43.6%–43.8% (FY2026); Interest expense net: approximately $4 million (FY2026); Tax rate: approximately 22.5%–23.0% (FY2026), plus 4 additional metrics.
Gross margin (FY2026): “Gross margin is expected to be approximately 43.6%-43.8%.”
Interest expense net (FY2026): “Interest expense net is expected to be approximately $4 million.”
Tax rate (FY2026): “Tax rate is expected to be approximately 22.5%-23.0%.”
Depreciation and amortization (FY2026): “Depreciation and amortization is expected to be approximately $250 million.”
Adjusted EBITDA (FY2026): “Adjusted EBITDA is expected to be approximately $545 million-$580 million.”
Diluted earnings per share (FY2026): “Diluted earnings per share is estimated to be approximately $1.83-$2.08.”