FLONYSEFood and Kindred ProductsFiscal year ends January 2
FLOWERS FOODS INC
Financials through Q2 FY2026, quarter ended Jul 18, 2026Last filing: 10-Q on Aug 20, 2026
$5.98−0.13 (-2.13%)
Close on Oct 19, 2026
- Market cap
- $1.27B
- P/E (TTM)
- 23.0
- Dividend yield
- 16.43%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
48.9%−1.1 pts over 5 years
Operating margin
3.3%−4.0 pts over 5 years
Net margin
1.6%−1.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +3.0% | +3.0% | +3.7% | +3.4% | |
| Gross profit | +1.7% | +3.7% | +3.2% | – | |
| Operating income | -50.0% | -16.9% | -11.6% | -5.2% | |
| Net income | -66.2% | -28.4% | -11.3% | -7.8% | |
| EPS, diluted | -65.8% | -28.0% | -11.1% | -7.7% | |
| Free cash flow | +13.7% | +18.5% | -2.2% | +2.7% | |
| Dividend per share | +3.4% | +4.1% | +4.5% | +5.6% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 13.4% | 11.6% | 6.2% | |
| Return on assets | 5.8% | 4.7% | 2.2% | |
| Current ratio | 1.40 | 1.66 | 0.75 | |
| Debt to equity | 0.79 | 0.70 | 1.35 | |
| Net debt to EBITDA | 2.35× | 1.41× | 5.11× | |
| Interest coverage | 7.6× | 8.3× | 2.3× | |
| Inventory turnover | – | 17.4× | 14.4× | |
| Capex to revenue | 2.6% | 2.2% | 2.4% | |
| Diluted shares | 210M | 212M | 212M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Flowers Foods generated $1.91B from operations and spent $1.78B on capital expenditure, dividends and share buybacks. 39% of that went back into the business.
Generated
$1.91B
Used
$1.78B
Capital expenditure$693.31M39%Dividends$969.96M54%Share buybacks$118.10M7%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin1.6%
×Asset turnover1.39×
×Equity multiplier2.79×
=Return on equity, FY20256.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 1.6% | 1.39× | 2.79× | 6.2% |
| FY2024 | 4.9% | 1.50× | 2.47× | 18.0% |
| FY2023 | 2.4% | 1.51× | 2.41× | 8.8% |
| FY2022 | 4.8% | 1.46× | 2.30× | 16.0% |
| FY2021 | 4.8% | 1.32× | 2.36× | 14.8% |
| FY2020 | 3.5% | 1.35× | 2.47× | 11.6% |
| FY2019 | 4.0% | 1.37× | 2.39× | 13.0% |
| FY2018 | 4.0% | 1.44× | 2.19× | 12.5% |
| FY2017 | 3.8% | 1.45× | 2.20× | 12.2% |
| FY2016 | 4.2% | 1.40× | 2.28× | 13.4% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$83.83M
- Cash generatingOperating cash flow above zero$446.20M
- Return on assets improvedROA up on the prior year7.2% → 2.5%
- Earnings backed by cashOperating cash flow above net income$446.20M vs $83.83M
- Less leverageLong-term debt to assets fell30.0% → 32.4%
- Better liquidityCurrent ratio rose1.20 → 0.75
- No dilutionShare count did not rise212M → 212M
- Gross margin improvedGross margin up on the prior year49.50% → 48.87%
- More efficientAsset turnover rose1.49 → 1.55