At a glance
Mohawk Industries Inc is worth $7.43B, about 22 times its fiscal 2025 earnings. Revenue fell 0.5% to $10.79B in fiscal 2025, with 3.4% kept as profit; over 5 years it has grown 2.5% a year. It pays no dividend; it spent $1.52B buying back its shares over FY2021–FY2025. The stock returned +7.6% over the past year with dividends reinvested and −8.5% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 56.5% in the 2020 crash (S&P 500: 33.7%) and 52.5% in the 2022 bear market (S&P 500: 24.5%).
The business in plain English
Mohawk Industries makes flooring for homes and businesses and describes itself as the world's largest flooring company. Its products include ceramic and porcelain tile, carpet, rugs, laminate, wood, stone, luxury vinyl tile (LVT, which is vinyl planks or tiles made to look like wood or stone) and sheet vinyl. Its brands include Daltile, Marazzi, Mohawk, Karastan, Pergo and Quick-Step. Buyers range from home centers and flooring stores to home builders, distributors and commercial contractors. Its products go into both remodeling and new construction.
Most of its sales depend on homes and commercial buildings being built or remodeled. Mohawk is vertically integrated, meaning it makes much of its own raw material and runs its own factories and distribution. Net sales were $10.8 billion in 2025. About 54% came from the United States, 31% from Europe and 7% from Latin America. Profit margins are thin: net income was 3.4% of sales in 2025.
The company reports three segments. Global Ceramic is the largest, with about 40% of 2025 sales ($4.3 billion). It covers tile, natural stone, porcelain slabs and quartz countertops. Flooring North America, with about 34%, covers carpet, rugs, laminate, wood and vinyl flooring. Flooring Rest of the World, with about 26%, offers similar flooring in other regions. It also makes roofing panels, insulation boards and chipboard, mainly for Europe, and earns fees by licensing flooring patents.
Price history
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MHK +7.6% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Ceramic & Stone | $4.22B | 39.1% |
| Carpet & Resilient | $3.73B | 34.6% |
| Laminate & Wood | $1.75B | 16.2% |
| Other | $1.08B | 10% |
By business segment
| Global Ceramic | $4.29B | 39.8% |
| Flooring NA | $3.64B | 33.7% |
| Flooring ROW | $2.86B | 26.5% |
By geography
| United States | $5.81B | 53.9% |
| Europe | $3.37B | 31.2% |
| Other | $876.9M | 8.1% |
| Latin America | $728.0M | 6.7% |
Latest results
- In Q3 FY2026 (ended Oct 3, 2026), revenue was $2.79B, up 1% from a year earlier, and net income was $163.1M (+49.9%).
- For fiscal 2025, revenue was $10.79B (-0.5% year over year; +2.5% a year from FY2020 to FY2025) with a 3.4% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +2.5% watch |
|---|---|
| Operating margin | 4.5% weak |
| Free cash flow margin | 5.7% watch |
| Return on equity (FY2025) | 4.4% weak |
| Return on assets (FY2025) | 2.7% weak |
| Net cash (cash minus debt) | $-965.9M weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $9.55B | $515.6M | $1.34B |
| FY2021 | $11.20B | $1.03B | $633.0M |
| FY2022 | $11.74B | $25.2M | $88.5M |
| FY2023 | $11.14B | $-449.0M | $716.3M |
| FY2024 | $10.84B | $514.7M | $679.5M |
| FY2025 | $10.79B | $369.9M | $616.2M |
Valuation snapshot
| Market value | $7.43B |
|---|---|
| P/E ratio | 21.5 |
| Dividend yield | None |
Rank among 1514 US companies
Market value at each year end
Mohawk Industries’s market value went from $14.77B at the end of 2016 to $7.43B on Oct 28, 2026, down 50%; since the end of 2025 it is up 10%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $7.43B | +9.9% |
| 2025 | $6.76B | -10.1% |
| 2024 | $7.52B | +14.1% |
| 2023 | $6.59B | +1.5% |
| 2022 | $6.49B | -47.4% |
| 2021 | $12.34B | +23.0% |
| 2020 | $10.04B | +2.7% |
| 2019 | $9.77B | +12.6% |
| 2018 | $8.68B | -57.7% |
| 2017 | $20.51B | +38.9% |
| 2016 | $14.77B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| MHK price data to Oct 28, 2026 | +16.9% | +7.6% | +18.6% | -8.5% | -3.6% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +16.9% |
| 2025 | -8.3% |
| 2024 | +15.1% |
| 2023 | +1.3% |
| 2022 | -43.9% |
| 2021 | +29.3% |
| 2020 | +3.4% |
| 2019 | +16.6% |
| 2018 | -57.6% |
| 2017 | +38.2% |
| 2016 | +5.4% |
| 2015 | +21.9% |
| 2014 | +4.3% |
| 2013 | +64.6% |
| 2012 | +51.2% |
| 2011 | +5.4% |
| 2010 | +19.2% |
| 2009 | +10.8% |
| 2008 | -42.2% |
| 2007 | -0.6% |
| 2006 | -13.9% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 79.2% over that stretch · deepest drop along the way 80.1%, back to its old high 43.8 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 51.8% over that stretch · deepest drop along the way 56.5%, back to its old high 8.9 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 47.7% over that stretch · deepest drop along the way 52.5%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 0 open-market purchases and 73 sales ($29.3M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Sep 14, 2026 | Jeffrey S Lorberbaum CHIEF EXECUTIVE OFFICER, Director, 10% owner | sell | $4.9M |
| Sep 11, 2026 | Jeffrey S Lorberbaum CHIEF EXECUTIVE OFFICER, Director, 10% owner | sell | $2.4M |
| Aug 5, 2026 | Bernard Thiers Director | sell | $1.8M |
| Aug 3, 2026 | Jeffrey S Lorberbaum CHIEF EXECUTIVE OFFICER, Director, 10% owner | sell | $1.3M |
| Aug 3, 2026 | Jeffrey S Lorberbaum CHIEF EXECUTIVE OFFICER, Director, 10% owner | sell | $1.2M |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 8.9% | Sep 30, 2026 |
| AQR Capital Management, LLC | 6.99% | Mar 31, 2026 |
| Dimensional Fund Advisors LP | 5.1% | Dec 31, 2025 |
| JPMORGAN CHASE & CO. | 5% | Dec 31, 2024 |
ETFs with the most weight in MHK
| SPVM Invesco S&P 500 Value with Momentum ETF | 1.45% |
| FXR First Trust Industrials/Producer Durables AlphaDEX Fund | 1.23% |
| BUSA Brandes U.S. Value ETF | 1.02% |
| FNK First Trust Mid Cap Value AlphaDEX Fund | 0.75% |
| HOMZ Hoya Capital Housing ETF | 0.7% |
| FLOW Global X U.S. Cash Flow Kings 100 ETF | 0.64% |
| DFSV Dimensional US Small Cap Value ETF | 0.63% |
| DFAT Dimensional U.S. Targeted Value ETF | 0.44% |
What could go wrong
- Housing and remodeling slowdowns. Most sales depend on building and remodeling homes and commercial spaces. High interest rates and inflation have already hurt mortgage affordability and raised project costs, and downturns tend to cut flooring demand.
- Tariffs raise costs on imported products. US tariffs have raised Mohawk's cost of imported goods and lowered margins on some products. Raising prices to cover them could lose market share, and its US factories may not gain as hoped.
- Low-priced imports and price competition. Some foreign rivals have lower input costs or state subsidies. The company also warns of dumping, meaning selling below fair value. Overcapacity can force Mohawk to cut prices or lose market share.
- Foreign sales bring currency and Russia risks. About 46% of sales come from outside the US, including emerging markets. Currency swings can change reported results, and the company flags specific risks tied to its operations in Russia.
- Rising input costs may squeeze margins. If raw materials, labor, energy or fuel get more expensive, Mohawk may not be able to raise prices enough to cover them. Profit was 3.4% of sales in 2025, which leaves little cushion.
- Write-downs and loan covenant pressure. Weak business conditions have forced asset write-downs, called impairments, before and could again. Breaking loan covenants, the conditions in its credit agreements, could force early repayment and cut off further borrowing.
Recent events
- Quarterly results released; Investor presentation or announcement; Other company announcement
- Executive or board change; Investor presentation or announcement
- Quarterly results released
- Executive or board change; Investor presentation or announcement
- Executive or board change; Shareholder vote results
- Major agreement signed; New debt or financial obligation
- Quarterly results released
- Quarterly results released
- Executive or board change
- Executive or board change; Investor presentation or announcement
For income and retirement investors
Mohawk Industries does not pay a dividend. It paid none from FY2021 through FY2025, so there is no dividend record to judge, and the stock provides no regular cash income. Instead, Mohawk spent about $1.52 billion over those five years on buybacks (repurchasing its own shares), including about $900 million in FY2021. The share count was about 67.7 million in both October 2021 and July 2026, so it did not shrink over that span.
The stock has fallen hard in downturns. It dropped about 80% in the 2008 financial crisis and took roughly 44 months to recover. It fell 56.5% in the 2020 COVID crash but recovered within about nine months. In the 2022 bear market it fell 52.5% and had not regained that peak as of October 28, 2026. A single stock carries more risk than a diversified fund, where one company's troubles matter less.
Questions investors ask
Does Mohawk Industries pay a dividend?
No. Mohawk Industries paid no dividends from FY2021 through FY2025. Instead, it returned cash by buying back its own shares, spending about $1.52 billion over those five years. Shareholders get returns only from changes in the share price, not from regular cash payments. That matters for retirees who rely on their portfolio for income.
How does Mohawk Industries make money?
Mohawk makes money by manufacturing and selling flooring. Its 2025 net sales were $10.8 billion. About 39% came from ceramic tile and stone, 35% from carpet and resilient flooring (vinyl products such as luxury vinyl tile) and 16% from laminate and wood. It sells through home centers, flooring retailers, builders, distributors and commercial contractors. About 54% of sales were in the United States. It also earns fees from licensing some of its flooring patents.
Is Mohawk Industries profitable?
Yes, but its margins are thin and its earnings swing. Mohawk earned $369.9 million in 2025 on $10.8 billion of sales. That is a 3.4% net margin, or 3.4 cents of profit per dollar of sales. Net income fell 28.1% from 2024, and the company lost $449 million in 2023. In the quarter ended July 4, 2026, net income rose 33.9% from a year earlier to $196.1 million, on sales up 6.8%. As of October 28, 2026, the stock traded at about 21.5 times 2025 earnings.
How has Mohawk stock performed over the long term?
It has lost ground over five and ten years but gained over three. As of October 28, 2026, the share price was down about 36% over five years and 31% over ten years, and up 67% over three years. The stock is volatile. Its one-year beta of 1.27 means it has swung more than the overall market. Its worst drop in about 21 years of price history was 83.4%, and it fell 43.89% in calendar 2022.
How much debt does Mohawk Industries have?
About $1.92 billion of total debt as of July 4, 2026. Against that it held $849.6 million of cash and investments, which leaves net debt of roughly $1.07 billion. That is small next to shareholders' equity of $8.54 billion. Free cash flow, the cash left after running the business and investing in plants and equipment, was $616.2 million in 2025. The company's annual report (10-K) warns that breaking its loan covenants could force early repayment.