At a glance
Floor & Decor Holdings Inc is worth $4.96B, about 25 times its fiscal 2025 earnings. Revenue grew 5.1% to $4.68B in fiscal 2025, with 4.5% kept as profit; over 5 years it has grown 14.1% a year. It pays no dividend. The stock returned −33.9% over the past year with dividends reinvested and −18.8% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 52.9% in the 2020 crash (S&P 500: 33.7%) and 53.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 21 months after the lows.
The business in plain English
Floor & Decor is a US specialty retailer of hard surface flooring: tile, laminate and vinyl, wood and natural stone, plus the installation materials, tools and decorative accessories needed to finish a job. As of December 25, 2025, it ran 270 warehouse-format stores and five small design studios across 39 states. Stores average about 76,000 square feet and stock roughly 4,200 items each, so customers can buy job-size quantities straight off the shelf.
Its customers include "Pros" (professional installers and commercial businesses) and homeowners, who either do the work themselves or buy materials and hire an installer. Pros get credit, free storage, a dedicated sales staff and a loyalty program. The company buys most products directly from manufacturers, working with more than 240 vendors. That cuts out wholesalers and supports everyday low prices instead of frequent promotions. Its gross margin, the share of sales left after paying for the goods, was 43.6% in fiscal 2025.
Revenue was about $4.68 billion in fiscal 2025. By category, laminate and vinyl made up 24.6% of sales, tile 22.7%, installation materials and tools 20.4%, and decorative accessories and wall tile 16.4%. Wood (7.1%) and natural stone (4.3%) were smaller. The main growth plan is more stores: management sees room for at least 500 US warehouse stores over the long term.
Price history
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FND -33.9% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Laminate and vinyl | $1.15B | 24.6% |
| Tile | $1.06B | 22.7% |
| Installation materials and tools | $957.2M | 20.4% |
| Decorative accessories and wall tile | $770.0M | 16.4% |
| Wood | $332.8M | 7.1% |
| Natural stone | $202.0M | 4.3% |
| Adjacent categories | $115.7M | 2.5% |
| Other | $87.1M | 1.9% |
Latest results
- In Q3 FY2026 (ended Sep 24, 2026), revenue was $1.21B, up 3% from a year earlier, and net income was $64.8M (+13.2%).
- For fiscal 2025, revenue was $4.68B (+5.1% year over year; +14.1% a year from FY2020 to FY2025) with a 4.5% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +14.1% good |
|---|---|
| Operating margin | 5.8% watch |
| Free cash flow margin | 1.4% watch |
| Return on equity (FY2025) | 8.7% watch |
| Return on assets (FY2025) | 3.8% watch |
| Net cash (cash minus debt) | $197.0M good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $2.43B | $195.0M | $193.7M |
| FY2021 | $3.43B | $283.2M | $-106.3M |
| FY2022 | $4.26B | $298.2M | $-344.1M |
| FY2023 | $4.41B | $246.0M | $256.0M |
| FY2024 | $4.46B | $205.9M | $156.3M |
| FY2025 | $4.68B | $208.6M | $64.1M |
Valuation snapshot
| Market value | $4.96B |
|---|---|
| P/E ratio | 24.8 |
| Dividend yield | None |
Rank among 1514 US companies
Market value at each year end
Floor & Decor Holdings’s market value went from $4.61B at the end of 2017 to $4.96B on Oct 28, 2026, up 8%; since the end of 2025 it is down 24%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $4.96B | -24.5% |
| 2025 | $6.56B | -38.6% |
| 2024 | $10.69B | -10.1% |
| 2023 | $11.89B | +60.9% |
| 2022 | $7.39B | -46.2% |
| 2021 | $13.73B | +42.2% |
| 2020 | $9.66B | +88.1% |
| 2019 | $5.13B | +103.7% |
| 2018 | $2.52B | -45.3% |
| 2017 | $4.61B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| FND price data to Oct 28, 2026 | -21.9% | -33.9% | -15.0% | -18.8% | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -21.9% |
| 2025 | -38.9% |
| 2024 | -10.6% |
| 2023 | +60.2% |
| 2022 | -46.4% |
| 2021 | +40.0% |
| 2020 | +82.7% |
| 2019 | +96.2% |
| 2018 | -46.8% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 46.3% over that stretch · deepest drop along the way 52.9%, back to its old high 3 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 45.7% over that stretch · deepest drop along the way 53%, back to its old high 21.2 months after the low |
Insider activity
Form 4 filings from 2025-10-30 to 2026-10-30 (25 read): 2 open-market purchases ($373K) and 2 sales ($14.3M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 7, 2026 | Thomas V Taylor Executive Chair, Director | sell | $13.6M |
| May 4, 2026 | Ersan Sayman EVP - MERCHANDISING | sell | $734K |
| May 4, 2026 | Bradley Paulsen Chief Executive Officer, Director | buy | $251K |
| May 4, 2026 | Bryan Langley EVP & CHIEF FINANCIAL OFFICER | buy | $122K |
Who owns it
Large shareholders (13G filings)
| FMR LLC | 12.7% | Apr 30, 2026 |
| BlackRock, Inc. | 9.3% | Jan 31, 2025 |
| PRINCIPAL GLOBAL INVESTORS | 5.7% | Sep 30, 2025 |
| Capital World Investors | 5.3% | Jun 30, 2026 |
| Vanguard Capital Management | 5.24% | Mar 31, 2026 |
| T. Rowe Price Associates, Inc. | 2.3% | Dec 31, 2025 |
| Capital Research Global Investors | 1.3% | May 30, 2025 |
ETFs with the most weight in FND
| RISN Inspire Tactical Balanced ETF | 2.72% |
| QMID WisdomTree U.S. MidCap Quality Growth Fund | 0.91% |
| FFND One Global ETF | 0.88% |
| HOMZ Hoya Capital Housing ETF | 0.61% |
| MIDE Xtrackers S&P MidCap 400 Scored & Screened ETF | 0.5% |
| IQSM NYLI Candriam U.S. Mid Cap Equity ETF | 0.45% |
| IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 0.39% |
| FLDZ RiverNorth Patriot ETF | 0.37% |
What could go wrong
- New stores cost more and may earn less. Growth relies on opening many more stores. Newer stores have had higher construction, occupancy and operating costs than older ones, and the company has limited experience with smaller stores in smaller markets.
- Tariffs could raise the cost of imports. The company buys most of its products from suppliers outside the US. New tariffs, trade policy shifts or stricter import enforcement could raise costs or disrupt deliveries to stores.
- A major leadership transition is under way. The 10-K says the company is going through a significant leadership transition and depends on key people. Changes at the top can disrupt strategy, store growth plans and day-to-day execution.
- Deep inventory can become a burden. The model relies on keeping large amounts of stock in every store. If demand stays weak, goods can pile up and force heavier discounting, squeezing margins and cash flow.
- High mortgage rates and slow home sales. Sales depend on remodeling. The 10-K says high rates and low home sales have cut customer traffic and average purchase size, causing negative comparable store sales (sales at established stores).
- Price pressure from flooring and home rivals. It competes with specialty flooring stores and large home improvement chains. Tougher competition could force price cuts, reduce demand for its products and shrink its market share.
Recent events
- Quarterly results released; Executive or board change; Investor presentation or announcement
- Quarterly results released
- Major agreement signed; Major agreement ended; New debt or financial obligation
- Shareholder vote results
- Quarterly results released; Other company announcement
- Quarterly results released
- Executive or board change
- Quarterly results released
For income and retirement investors
Floor & Decor pays no dividend, and its 10-K filed February 19, 2026, says the company does not expect to pay cash dividends. It bought back none of its own shares from fiscal 2021 through fiscal 2025, and its share count rose about 1.2% between August 2021 and July 2026. For an income investor, that means returns come only from the share price; raising cash means selling shares, possibly after a fall. The stock has dropped hard in downturns. In the 2020 COVID crash it fell 52.9% from February 24 to March 18, 2020, then regained its earlier high by June 18, about three months later. In the 2022 bear market it fell 53% from January 3 to June 16, 2022, and took about 21 months to recover, in March 2024. As of October 28, 2026, it was 33.9% below its level a year earlier. A single stock like this carries more risk than a diversified fund.
Questions investors ask
How does Floor & Decor make money?
It sells hard surface flooring and the materials needed to install it. Revenue was about $4.68 billion in fiscal 2025. Laminate and vinyl made up 24.6% of sales, tile 22.7%, installation materials and tools 20.4%, and decorative accessories and wall tile 16.4%. Buyers include professional installers, commercial businesses and homeowners. The company says buying most products directly from manufacturers lets it offer everyday low prices. Its gross margin, the share of sales left after paying for the goods, was 43.6%.
Does Floor & Decor pay a dividend?
No. Floor & Decor does not pay a dividend, and its 10-K filed February 19, 2026, says the company does not expect to pay cash dividends. It also bought back none of its own shares from fiscal 2021 through fiscal 2025. Its growth plan centers on opening new stores. For income seekers, that means no regular payouts; any return depends on the share price.
How many stores does Floor & Decor have?
As of December 25, 2025, Floor & Decor operated 270 warehouse-format stores and five small-format design studios across 39 states. The warehouse stores average about 76,000 square feet and carry roughly 4,200 items each. Management believes the US could support at least 500 warehouse stores over the long term, with new stores ranging from 50,000 to 75,000 square feet. About half its stores had been open less than five years. The 10-K notes that newer stores have had higher building and operating costs and may be less profitable.
Is Floor & Decor profitable?
Yes, though profits are lower than in fiscal 2022. Net income was $208.6 million in fiscal 2025, a net margin of 4.5%, down from $298.2 million in fiscal 2022. Free cash flow, the cash left after running the business and investing in it, was $64.1 million, or 1.4% of sales. In the quarter ended June 25, 2026, net income rose 51.7% from a year earlier to $95.9 million. On that date it held $320.6 million in cash and investments against $195.3 million of debt.
How has Floor & Decor stock performed?
Poorly over the past several years. As of October 28, 2026, the share price was down 33.9% over one year and 65% over five years, an average loss of 18.8% a year. It fell 38.9% in calendar 2025 and 21.9% in 2026 through October 28. The ride has been bumpy: its largest peak-to-low drop over the prior three years was 67.5%. At that date it traded at 24.8 times fiscal 2025 earnings per share, a measure called the price-to-earnings ratio.