Flowers Foods Inc Financials
This page shows Flowers Foods Inc (FLO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
The core business kept generating cash, but debt-funded expansion and higher financing costs drove an earnings reset.
From FY2024 to FY2026, revenue moved only from$5.10B to$5.26B , but total assets jumped to$4.18B , goodwill rose to$1.05B , and long-term debt increased to$1.36B . With FY2026 investing outflow at$943.2M versus capex of just$127.1M , the balance sheet expanded far faster than the income statement, so recent capital deployment looks more like debt-funded expansion than routine maintenance—and it has not yet produced stronger earnings.
Gross margin stayed broadly stable near
Cash conversion was much stronger than reported profit: FY2026 operating cash flow was
Financial Health Signals
Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Flowers Foods Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Flowers Foods Inc has an operating margin of 3.3%, meaning the company retains $3 of operating profit per $100 of revenue. This results in a moderate score of 32/100, indicating healthy but not exceptional operating efficiency. This is down from 6.8% the prior year.
Flowers Foods Inc's revenue grew a modest 3.0% year-over-year to $5.3B. This slow but positive growth earns a score of 36/100.
Flowers Foods Inc carries a low D/E ratio of 1.04, meaning only $1.04 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 81/100, indicating a strong balance sheet with room for future borrowing.
Flowers Foods Inc's current ratio of 0.75 is below the typical benchmark, resulting in a score of 10/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Flowers Foods Inc has a free cash flow margin of 6.1%, earning a moderate score of 39/100. The company generates positive cash flow after capital investments, but with room for improvement.
Flowers Foods Inc's ROE of 6.4% shows moderate profitability relative to equity, earning a score of 34/100. This is down from 17.6% the prior year.
Flowers Foods Inc scores 2.00, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Flowers Foods Inc passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Flowers Foods Inc generates $5.32 in operating cash flow ($446.2M OCF vs $83.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Flowers Foods Inc earns $2.3 in operating income for every $1 of interest expense ($174.0M vs $76.7M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Flowers Foods Inc generated $5.3B in revenue in fiscal year 2026. This represents an increase of 3.0% from the prior year.
Flowers Foods Inc's EBITDA was $341.4M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 32.7% from the prior year.
Flowers Foods Inc reported $83.8M in net income in fiscal year 2026. This represents a decrease of 66.2% from the prior year.
Flowers Foods Inc earned $0.40 per diluted share (EPS) in fiscal year 2026. This represents a decrease of 65.8% from the prior year.
Cash & Balance Sheet
Flowers Foods Inc generated $319.1M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 13.7% from the prior year.
Flowers Foods Inc held $12.1M in cash against $1.4B in long-term debt as of fiscal year 2026.
Flowers Foods Inc paid $0.98 per share in dividends in fiscal year 2026. This represents an increase of 3.4% from the prior year.
Flowers Foods Inc had 212M shares outstanding in fiscal year 2026. This represents an increase of 0.3% from the prior year.
Margins & Returns
Flowers Foods Inc's gross margin was 48.9% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is down 0.6 percentage points from the prior year.
Flowers Foods Inc's operating margin was 3.3% in fiscal year 2026, reflecting core business profitability. This is down 3.5 percentage points from the prior year.
Flowers Foods Inc's net profit margin was 1.6% in fiscal year 2026, showing the share of revenue converted to profit. This is down 3.3 percentage points from the prior year.
Flowers Foods Inc's ROE was 6.4% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 11.2 percentage points from the prior year.
Capital Allocation
Flowers Foods Inc invested $9K in research and development in fiscal year 2026. This represents a decrease of 99.8% from the prior year.
Flowers Foods Inc spent $5.5M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 75.8% from the prior year.
Flowers Foods Inc invested $127.1M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents a decrease of 3.8% from the prior year.
FLO Income Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.2B+0.5% | $1.2B-1.3% | $1.2B-20.0% | $1.6B+39.9% | $1.1B-6.7% | $1.2B-2.8% | $1.2B-22.3% | $1.6B |
| Cost of Revenue | $634.5M-0.7% | $638.7M+0.4% | $636.1M-18.3% | $778.3M+36.9% | $568.5M-5.0% | $598.2M-2.5% | $613.4M-23.1% | $797.2M |
| Gross Profit | $598.4M+1.8% | $587.9M-3.1% | $606.8M-21.8% | $775.9M+43.0% | $542.7M-8.4% | $592.4M-3.2% | $611.6M-21.6% | $779.6M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $492.4M+3.4% | $476.0M+0.5% | $473.5M-25.3% | $633.5M+42.7% | $444.0M-3.5% | $460.4M-2.3% | $471.4M-24.6% | $625.3M |
| Operating Income | -$71.1M-206.9% | $66.5M-28.8% | $93.4M+9.7% | $85.1M+38.8% | $61.4M-32.0% | $90.2M-5.3% | $95.2M-6.2% | $101.5M |
| Interest Expense | $19.9M+9.2% | $18.2M-3.5% | $18.9M-4.1% | $19.7M+141.0% | $8.2M-6.1% | $8.7M-3.2% | $9.0M-20.6% | $11.3M |
| Income Tax | -$19.7M-256.0% | $12.6M-37.2% | $20.1M+10.4% | $18.2M+32.1% | $13.8M-32.9% | $20.5M-12.4% | $23.5M+1.7% | $23.1M |
| Net Income | -$67.1M-269.7% | $39.5M-32.3% | $58.4M+10.1% | $53.0M+22.9% | $43.1M-33.6% | $65.0M-3.0% | $67.0M-8.3% | $73.0M |
| EPS (Diluted) | N/A | $0.19-32.1% | $0.28+12.0% | $0.25 | N/A | $0.31-3.1% | $0.32-5.9% | $0.34 |
FLO Balance Sheet
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.2B-3.8% | $4.3B+0.1% | $4.3B+0.4% | $4.3B+27.2% | $3.4B-0.9% | $3.4B+0.1% | $3.4B0.0% | $3.4B |
| Current Assets | $729.1M-3.0% | $751.8M+1.5% | $740.7M+3.5% | $715.3M+9.0% | $656.4M-7.3% | $707.7M+0.7% | $702.8M+2.1% | $688.4M |
| Cash & Equivalents | $12.1M-27.7% | $16.7M+51.5% | $11.0M+50.5% | $7.3M+46.7% | $5.0M-66.6% | $15.0M+118.1% | $6.9M-56.6% | $15.8M |
| Inventory | $201.7M-0.9% | $203.4M-3.2% | $210.2M+1.5% | $207.1M+20.5% | $171.9M+1.3% | $169.7M+0.3% | $169.2M-3.8% | $176.0M |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $1.0B0.0% | $1.0B0.0% | $1.0B-1.8% | $1.1B+56.9% | $679.9M0.0% | $679.9M0.0% | $679.9M0.0% | $679.9M |
| Total Liabilities | $2.9B-1.7% | $2.9B+0.4% | $2.9B+0.2% | $2.9B+46.3% | $2.0B-1.6% | $2.0B-1.0% | $2.0B-0.5% | $2.1B |
| Current Liabilities | $976.2M+1.9% | $957.6M+62.5% | $589.3M+3.6% | $568.7M+3.7% | $548.6M-3.6% | $569.1M-3.5% | $589.5M-5.3% | $622.4M |
| Long-Term Debt | $1.4B-1.8% | $1.4B-21.1% | $1.7B-2.3% | $1.8B+75.2% | $1.0B-3.1% | $1.1B-1.4% | $1.1B+2.4% | $1.0B |
| Total Equity | $1.3B-8.2% | $1.4B-0.5% | $1.4B+0.9% | $1.4B+0.4% | $1.4B+0.3% | $1.4B+1.6% | $1.4B+0.6% | $1.4B |
| Retained Earnings | $852.1M-12.3% | $971.4M-1.3% | $984.1M+0.6% | $978.2M+0.1% | $977.6M-0.8% | $985.0M+1.5% | $970.5M+1.7% | $954.4M |
FLO Cash Flow Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $125.4M+130.6% | $54.4M-58.4% | $130.8M-3.5% | $135.6M+4.1% | $130.3M+14.3% | $113.9M+80.1% | $63.3M-39.8% | $105.1M |
| Capital Expenditures | $46.8M+95.5% | $23.9M-22.3% | $30.8M+20.6% | $25.6M-43.8% | $45.5M+79.2% | $25.4M-9.1% | $27.9M-16.2% | $33.3M |
| Free Cash Flow | $78.6M+158.3% | $30.4M-69.6% | $100.0M-9.1% | $110.1M+29.8% | $84.8M-4.2% | $88.6M+150.5% | $35.4M-50.8% | $71.8M |
| Investing Cash Flow | -$47.8M-98.9% | -$24.0M+32.1% | -$35.4M+95.8% | -$836.0M-1299.7% | -$59.7M-63.9% | -$36.4M+10.2% | -$40.6M-12.9% | -$35.9M |
| Financing Cash Flow | -$82.3M-233.4% | -$24.7M+73.1% | -$91.8M-113.1% | $702.7M+972.5% | -$80.5M-16.0% | -$69.4M-119.3% | -$31.6M+58.3% | -$75.9M |
| Dividends Paid | $52.3M0.0% | $52.3M-0.3% | $52.4M+0.2% | $52.3M+3.5% | $50.5M0.0% | $50.5M-0.6% | $50.8M-0.5% | $51.1M |
| Share Buybacks | $0 | $0 | $0-100.0% | $5.5M | $0 | $0-100.0% | $13.8M+55.7% | $8.9M |
FLO Financial Ratios
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 48.5%+0.6pp | 47.9%-0.9pp | 48.8%-1.1pp | 49.9%+1.1pp | 48.8%-0.9pp | 49.8%-0.2pp | 49.9%+0.5pp | 49.4% |
| Operating Margin | -5.8%-11.2pp | 5.4%-2.1pp | 7.5%+2.0pp | 5.5%-0.0pp | 5.5%-2.1pp | 7.6%-0.2pp | 7.8%+1.3pp | 6.4% |
| Net Margin | -5.4%-8.7pp | 3.2%-1.5pp | 4.7%+1.3pp | 3.4%-0.5pp | 3.9%-1.6pp | 5.5%0.0pp | 5.5%+0.8pp | 4.6% |
| Return on Equity | -5.1%-7.9pp | 2.8%-1.3pp | 4.1%+0.3pp | 3.7%+0.7pp | 3.1%-1.6pp | 4.6%-0.2pp | 4.8%-0.5pp | 5.3% |
| Return on Assets | -1.6%-2.5pp | 0.9%-0.4pp | 1.3%+0.1pp | 1.2%-0.0pp | 1.3%-0.6pp | 1.9%-0.1pp | 1.9%-0.2pp | 2.1% |
| Current Ratio | 0.75-0.0 | 0.79-0.5 | 1.260.0 | 1.26+0.1 | 1.20-0.0 | 1.24+0.1 | 1.19+0.1 | 1.11 |
| Debt-to-Equity | 1.04+0.1 | 0.97-0.3 | 1.23-0.0 | 1.26+0.5 | 0.72-0.0 | 0.75-0.0 | 0.77+0.0 | 0.76 |
| FCF Margin | 6.4%+3.9pp | 2.5%-5.6pp | 8.1%+1.0pp | 7.1%-0.6pp | 7.6%+0.2pp | 7.4%+4.5pp | 2.9%-1.7pp | 4.5% |
Note: The current ratio is below 1.0 (0.75), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Flowers Foods Inc's annual revenue?
Flowers Foods Inc (FLO) reported $5.3B in total revenue for fiscal year 2026. This represents a 3.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Flowers Foods Inc's revenue growing?
Flowers Foods Inc (FLO) revenue grew by 3% year-over-year, from $5.1B to $5.3B in fiscal year 2026.
Is Flowers Foods Inc profitable?
Yes, Flowers Foods Inc (FLO) reported a net income of $83.8M in fiscal year 2026, with a net profit margin of 1.6%.
What is Flowers Foods Inc's EBITDA?
Flowers Foods Inc (FLO) had EBITDA of $341.4M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Flowers Foods Inc have?
As of fiscal year 2026, Flowers Foods Inc (FLO) had $12.1M in cash and equivalents against $1.4B in long-term debt.
What is Flowers Foods Inc's gross margin?
Flowers Foods Inc (FLO) had a gross margin of 48.9% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
What is Flowers Foods Inc's operating margin?
Flowers Foods Inc (FLO) had an operating margin of 3.3% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is Flowers Foods Inc's net profit margin?
Flowers Foods Inc (FLO) had a net profit margin of 1.6% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
Does Flowers Foods Inc pay dividends?
Yes, Flowers Foods Inc (FLO) paid $0.98 per share in dividends during fiscal year 2026.
What is Flowers Foods Inc's return on equity (ROE)?
Flowers Foods Inc (FLO) has a return on equity of 6.4% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Flowers Foods Inc's free cash flow?
Flowers Foods Inc (FLO) generated $319.1M in free cash flow during fiscal year 2026. This represents a 13.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Flowers Foods Inc's operating cash flow?
Flowers Foods Inc (FLO) generated $446.2M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Flowers Foods Inc's total assets?
Flowers Foods Inc (FLO) had $4.2B in total assets as of fiscal year 2026, including both current and long-term assets.
What are Flowers Foods Inc's capital expenditures?
Flowers Foods Inc (FLO) invested $127.1M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
How much does Flowers Foods Inc spend on research and development?
Flowers Foods Inc (FLO) invested $9K in research and development during fiscal year 2026.
What is Flowers Foods Inc's current ratio?
Flowers Foods Inc (FLO) had a current ratio of 0.75 as of fiscal year 2026, which is below 1.0, which may suggest potential liquidity concerns.
What is Flowers Foods Inc's debt-to-equity ratio?
Flowers Foods Inc (FLO) had a debt-to-equity ratio of 1.04 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Flowers Foods Inc's return on assets (ROA)?
Flowers Foods Inc (FLO) had a return on assets of 2.0% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Flowers Foods Inc's Altman Z-Score?
Flowers Foods Inc (FLO) has an Altman Z-Score of 2.00, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Flowers Foods Inc's Piotroski F-Score?
Flowers Foods Inc (FLO) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Flowers Foods Inc's earnings high quality?
Flowers Foods Inc (FLO) has an earnings quality ratio of 5.32x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Flowers Foods Inc cover its interest payments?
Flowers Foods Inc (FLO) has an interest coverage ratio of 2.3x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Flowers Foods Inc?
Flowers Foods Inc (FLO) scores 39 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.