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olivLaw · US equity research

Floor & Decor Holdings, Inc. FND

Retail-Lumber & Other Building Materials Dealers · SIC 5211 · Vertical: Building materials and hardware retail (SIC 52xx)

53.41USD+10.92% · 1 dayClose 04 Nov 2026

Floor & Decor is a specialty retailer of hard surface flooring and related accessories that sells at everyday low prices through warehouse-format stores and also sells commercial surfaces. The company keeps expanding its store base, but demand for large home improvement projects remains weak and comparable store sales have declined in recent quarters, including the second quarter of fiscal 2026.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 04 Nov 2026, Floor & Decor Holdings, Inc. (FND) stock was 53.41 USD (+10.92% on the day), with market capitalisation 5.6 bn USD, P/E 23.9 on diluted EPS of 2.23 USD over the last 12 months, beta 1.33, 52-week range 43.49–76.65 USD. Latest reported quarter (Q3 2026): revenue of 1.2 bn USD (+3.0% YoY), net income of 64.8 m USD (+13.2% YoY), diluted EPS 0.61 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
5.6 bn USD
shares as of 26 Oct 2026
P/E (TTM)
23.9
Diluted EPS TTM 2.23 · TTM to 24 Sept 2026
E/P (TTM)
4.18%
TTM to 24 Sept 2026
Dividend yield
unavailable
Beta (2y)
1.33
Volatility (1y) 49%
52-week range
43.4976.65

Price history

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Technical reading

RSI (14)
64.5
strong (55–70)
Bollinger (20, 2)
42.37 – 51.51
above the upper band · %B 1.21 · band width 19.5%
SMA 50 / 200
47.54 / 54.27
mixed trend
MACD (12, 26, 9)
0.76 / 0.06
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month+14.7%−1.1%+15.8 pp—
3 months−14.8%−0.5%−14.4 pp—
6 months+4.7%+4.4%+0.3 pp—
Year to date−12.3%+12.3%−24.6 pp—
1 year−13.4%+13.5%−26.9 pp−3.7%
3 years−33.9%+76.4%−110.3 pp−9.9%
5 years−59.9%+63.7%−123.6 pp—
Max drawdown (1y)
−43.3%
13 Jan 2026 → 15 May 2026
Max drawdown (5y)
−68.4%
16 Nov 2021 → 15 May 2026
Compound annual growth (5y)
−16.7%
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q3 2026 · 24 Sept 2026

Revenue
1.2 bn USD
+3.0% YoY
Net income
64.8 m USD
+13.2% YoY
Diluted EPS
0.61
+15.1% YoY
net / operating
5.3% / 6.4%

Quarterly margins

Quarterly statements · USD

Fiscal yearQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Revenue1.1 bn1.2 bn1.2 bn1.2 bn1.1 bn1.2 bn1.3 bn1.2 bn
Cost of revenue626.1 m652.6 m681.5 m667.6 m638.6 m644.8 m647.2 m683.2 m
Gross profit481.3 m508.2 m532.7 m512.0 m491.1 m507.5 m603.1 m531.3 m
SG&A—443.9 m450.8 m439.9 m439.2 m455.1 m479.1 m453.3 m
Operating income59.2 m64.2 m81.9 m72.0 m51.9 m52.4 m124.0 m78.0 m
Depreciation & amortisation59.8 m60.0 m60.0 m ≈60.5 m ≈60.7 m61.3 m63.6 m ≈62.3 m ≈
Interest expense-34.0 k1.5 m1.1 m591.0 k194.0 k1.1 m——
Pre-tax income59.3 m62.7 m80.8 m71.4 m51.7 m51.3 m124.9 m78.4 m
Income tax11.8 m13.8 m17.6 m14.2 m12.4 m11.6 m29.1 m13.5 m
Net income47.5 m48.9 m63.2 m57.3 m39.3 m39.7 m95.9 m64.8 m
Diluted EPS0.44 ≈0.450.580.530.36 ≈0.370.890.61
Operating cash flow101.4 m71.2 m84.1 m ≈102.5 m ≈124.1 m109.2 m169.2 m ≈206.9 m ≈
Capex97.5 m66.7 m94.1 m ≈78.0 m ≈78.9 m63.4 m73.2 m ≈51.2 m ≈
Share repurchases———0 ≈———91.4 m ≈

≈ derived quarter (cumulative difference / share-days average)

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Today's P/E sits at the 11 percentile of its own 38-quarter history (min 20.8, median 38.7, max 67.2; quarters with earnings only).

Fiscal years

Fiscal year20182019202020212022202320242025
Revenue1.7 bn2.0 bn2.4 bn3.4 bn4.3 bn4.4 bn4.5 bn4.7 bn
Revenue YoY+23.5%+19.6%+18.6%+41.5%+24.2%+3.5%+0.9%+5.1%
Net income116.2 m150.6 m195.0 m283.2 m298.2 m246.0 m205.9 m208.6 m
Net income YoY+13.0%+29.6%+29.4%+45.3%+5.3%−17.5%−16.3%+1.3%
Diluted EPS1.111.441.842.642.782.281.901.92
Diluted EPS YoY+7.8%+29.7%+27.8%+43.5%+5.3%−18.0%−16.7%+1.1%
net %6.8%7.4%8.0%8.2%7.0%5.6%4.6%4.5%
Free cash flow34.2 m8.7 m193.7 m-106.3 m-344.2 m256.0 m156.3 m64.1 m

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2025 · 25 Dec 2025

Cash
249.3 m USD
Financial debt
196.2 m USD
Net debt
-53.1 m USD
Equity
2.4 bn USD
Total assets
5.5 bn USD
Debt / equity
0.08x
Current ratio
1.33x
ROE
9.1%
ROA
4.0%
FCF margin
1.4%

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2023
4.4 bn
2024
4.5 bn
2025
4.7 bn

SEC (XBRL)· 19 Feb 2026verified

Cost of revenue
2023
2.6 bn
2024
2.5 bn
2025
2.6 bn

SEC (XBRL)· 19 Feb 2026verified

Gross profit
2023
1.9 bn
2024
1.9 bn
2025
2.0 bn

SEC (XBRL)· 19 Feb 2026verified

SG&A
2023
1.5 bn
2024
1.7 bn
2025
1.8 bn

SEC (XBRL)· 19 Feb 2026verified

Operating income
2023
321.4 m
2024
256.2 m
2025
270.1 m

SEC (XBRL)· 19 Feb 2026verified

Depreciation & amortisation
2023
201.9 m
2024
232.5 m
2025
241.2 m

SEC (XBRL)· 19 Feb 2026verified

EBITDA
2023
523.3 m ≈
2024
488.6 m ≈
2025
511.2 m ≈

SEC (XBRL)· 19 Feb 2026derived

Interest expense
2023
9.9 m
2024
2.8 m
2025
3.4 m

SEC (XBRL)· 19 Feb 2026verified

Pre-tax income
2023
311.5 m
2024
253.4 m
2025
266.7 m

SEC (XBRL)· 19 Feb 2026verified

Income tax
2023
65.6 m
2024
47.5 m
2025
58.0 m

SEC (XBRL)· 19 Feb 2026verified

Net income
2023
246.0 m
2024
205.9 m
2025
208.6 m

SEC (XBRL)· 19 Feb 2026verified

Diluted EPS
2023
2.28
2024
1.90
2025
1.92

SEC (XBRL)· 19 Feb 2026verified

Weighted average diluted shares
2023
107.9 m
2024
108.3 m
2025
108.4 m

SEC (XBRL)· 19 Feb 2026verified

Balance sheet · USD

Cash
2023
34.4 m
2024
187.7 m
2025
249.3 m

SEC (XBRL)· 19 Feb 2026verified

Inventories
2023
1.1 bn
2024
1.1 bn
2025
1.1 bn

SEC (XBRL)· 19 Feb 2026verified

Current assets
2023
1.3 bn
2024
1.5 bn
2025
1.5 bn

SEC (XBRL)· 19 Feb 2026verified

Property, plant & equipment, net
2023
1.6 bn
2024
1.8 bn
2025
1.9 bn

SEC (XBRL)· 19 Feb 2026verified

Goodwill
2023
257.9 m
2024
257.9 m
2025
257.9 m

SEC (XBRL)· 19 Feb 2026verified

Intangibles (excl. goodwill)
2023
153.9 m
2024
150.2 m
2025
146.5 m

SEC (XBRL)· 19 Feb 2026verified

Total assets
2023
4.7 bn
2024
5.1 bn
2025
5.5 bn

SEC (XBRL)· 19 Feb 2026verified

Accounts payable
2023
679.3 m
2024
794.9 m
2025
683.7 m

SEC (XBRL)· 19 Feb 2026verified

Short-term debt
2023
2.1 m
2024
2.1 m
2025
2.6 m

SEC (XBRL)· 19 Feb 2026verified

Long-term debt
2023
194.9 m
2024
194.5 m
2025
193.6 m

SEC (XBRL)· 19 Feb 2026verified

Current liabilities
2023
1.2 bn
2024
1.2 bn
2025
1.2 bn

SEC (XBRL)· 19 Feb 2026verified

Total liabilities
2023
2.7 bn
2024
2.9 bn
2025
3.1 bn

SEC (XBRL)· 19 Feb 2026verified

Equity
2023
1.9 bn †
2024
2.2 bn †
2025
2.4 bn †

SEC (XBRL)· 19 Feb 2026verified

Cash flow · USD

Operating cash flow
2023
803.6 m
2024
603.2 m
2025
381.8 m

SEC (XBRL)· 19 Feb 2026verified

Capex
2023
547.6 m
2024
446.8 m
2025
317.8 m

SEC (XBRL)· 19 Feb 2026verified

Free cash flow
2023
256.0 m ≈
2024
156.3 m ≈
2025
64.1 m ≈

SEC (XBRL)· 19 Feb 2026derived

Investing cash flow
2023
-565.0 m
2024
-446.8 m
2025
-317.8 m

SEC (XBRL)· 19 Feb 2026verified

Financing cash flow
2023
-214.0 m
2024
-3.0 m
2025
-2.4 m

SEC (XBRL)· 19 Feb 2026verified

Computed indicators

Growth

Revenue growth (YoY)
5.1%
computed by olivLawFY 2025
Revenue CAGR 3Y
3.2%
computed by olivLawFY 2022 → FY 2025
Revenue CAGR 5Y
14.1%
computed by olivLawFY 2020 → FY 2025
EBIT growth (YoY)
5.4%
computed by olivLawFY 2025
Net income growth (YoY)
1.3%
computed by olivLawFY 2025
Net income CAGR 3Y
-11.2%
computed by olivLawFY 2022 → FY 2025
Net income CAGR 5Y
1.4%
computed by olivLawFY 2020 → FY 2025
EPS growth (YoY)
1.1%
computed by olivLawFY 2025
EPS CAGR 3Y
-11.6%
computed by olivLawFY 2022 → FY 2025
EPS CAGR 5Y
0.9%
computed by olivLawFY 2020 → FY 2025
FCF growth (YoY)
-59.0%
computed by olivLawFY 2025

Profitability

Gross margin
44.9%
computed by olivLawTTM to 24 Sept 2026
EBITDA margin
11.7%
computed by olivLawTTM to 24 Sept 2026
EBIT margin
6.5%
computed by olivLawTTM to 24 Sept 2026
Net margin
5.1%
computed by olivLawTTM to 24 Sept 2026
FCF margin
7.2%
computed by olivLawTTM to 24 Sept 2026

Returns

ROE
9.9%
computed by olivLawTTM to 24 Sept 2026 · balance sheet at 24 Sept 2026
ROA
4.3%
computed by olivLawTTM to 24 Sept 2026 · balance sheet at 24 Sept 2026
ROIC
10.3%
computed by olivLawTTM to 24 Sept 2026 · balance sheet at 24 Sept 2026
ROCE
7.0%
computed by olivLawTTM to 24 Sept 2026 · balance sheet at 24 Sept 2026
Payout ratio (EPS)
unavailable
input data missing
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
-197.0 m USD
computed by olivLawbalance sheet at 24 Sept 2026
Net debt / EBITDA
-0.4x
computed by olivLawTTM to 24 Sept 2026 · balance sheet at 24 Sept 2026
Debt / equity
0.1x
computed by olivLawbalance sheet at 24 Sept 2026
Interest coverage
102.3x
computed by olivLawTTM to 24 Sept 2026

Liquidity

Current ratio
1.3x
computed by olivLawbalance sheet at 24 Sept 2026
Quick ratio
0.4x
computed by olivLawbalance sheet at 24 Sept 2026
Cash ratio
0.3x
computed by olivLawbalance sheet at 24 Sept 2026

Cash

Operating cash flow
609.4 m USD
computed by olivLawTTM to 24 Sept 2026
Capital expenditure
266.8 m USD
computed by olivLawTTM to 24 Sept 2026
Free cash flow
342.5 m USD
computed by olivLawTTM to 24 Sept 2026
FCF conversion
142.9%
computed by olivLawTTM to 24 Sept 2026
Cash conversion
110.0%
computed by olivLawTTM to 24 Sept 2026

Efficiency

Days sales outstanding
unavailable
input data missing
Days inventory outstanding
163 days
computed by olivLawTTM to 24 Sept 2026 · balance sheet at 24 Sept 2026
Days payables outstanding
106 days
computed by olivLawTTM to 24 Sept 2026 · balance sheet at 24 Sept 2026
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
5.6 bn USD
computed by olivLawbalance sheet at 24 Sept 2026
Enterprise value
5.4 bn USD
computed by olivLawbalance sheet at 24 Sept 2026
Market cap / net income TTM
23.2x
computed by olivLawTTM to 24 Sept 2026
P/E (TTM)
23.9x
computed by olivLawTTM to 24 Sept 2026
Earnings yield
4.2%
computed by olivLawTTM to 24 Sept 2026
P/B
2.2x
computed by olivLawbalance sheet at 24 Sept 2026
P/S
1.2x
computed by olivLawTTM to 24 Sept 2026 · balance sheet at 24 Sept 2026
EV/EBITDA
9.7x
computed by olivLawTTM to 24 Sept 2026 · balance sheet at 24 Sept 2026
EV/EBIT
17.5x
computed by olivLawTTM to 24 Sept 2026 · balance sheet at 24 Sept 2026
EV/Sales
1.1x
computed by olivLawTTM to 24 Sept 2026 · balance sheet at 24 Sept 2026
P/FCF
16.3x
computed by olivLawTTM to 24 Sept 2026 · balance sheet at 24 Sept 2026
FCF yield
6.2%
computed by olivLawTTM to 24 Sept 2026 · balance sheet at 24 Sept 2026
Dividend yield
unavailable
input data missing
Shareholder yield (distributions)
unavailable
input data missing

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Neutral profile

Score: 62 / 100

A scoring methodology on indicators and valuation, not investment advice.

Closing price

53.41 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 5.6 bn USD

Key indicators

Market capitalisation
5.6 bn USD
computed by olivLawbalance sheet at 24 Sept 2026
P/E (TTM)
23.9x
computed by olivLawTTM to 24 Sept 2026
P/B
2.2x
computed by olivLawbalance sheet at 24 Sept 2026
EV/EBITDA
9.7x
computed by olivLawTTM to 24 Sept 2026 · balance sheet at 24 Sept 2026
ROE
9.9%
computed by olivLawTTM to 24 Sept 2026 · balance sheet at 24 Sept 2026
Net margin
5.1%
computed by olivLawTTM to 24 Sept 2026
Revenue growth (YoY)
5.1%
computed by olivLawFY 2025
Dividend yield
unavailable
input data missing

Coverage and freshness

31/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 24 Sept 2026
Latest balance sheet date: 24 Sept 2026
Share count (cover of the latest filing), as of: 26 Oct 2026
Source: SEC (XBRL)published 29 Oct 2026
verified 1623derived 107

Score by group

  • Quality59
  • Growth13
  • Valuation74
  • Balance sheet89

Estimated value range

Low
44.87
USD per share
Mid
55.55
USD per share
High
67.72
USD per share
Price: 53.41 USD
The price is within the range
Potential to the central value: 4.0% (value / price − 1)
Margin of safety: 3.9% (1 − price / value)
Agreement between methods: high · 3 methods used · 2 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 43.27 – 74.63 USD.

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (USD per share)

— — Mid · ▏ Price

Valuation methods

  • DCF (discounted cash flow)44.87 – 67.72 (Mid 53.73)
    WACC 9.1% · starting FCFF 344.9 m USD · terminal value share of EV 73%
    The WACC × g sensitivity gives the method's bounds; these are not probabilities.
    Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 2.9%
  • Peers: EV/EBITDA53.21 – 66.47 (Mid 58.97)
    4 companies used · median multiple 10.7x · quartiles 9.7x – 12.1x
    BLDR, HD, LOW, TSCO
  • Peers: P/E43.27 – 74.63 (Mid 55.55)
    5 companies used · median multiple 24.9x · quartiles 19.4x – 33.4x
    FAST, HD, LOW, SHW, TSCO
  • Dividend discount (DDM)unavailable · input data missing
Multiple comparisons use the SIC vertical: Building materials and hardware retail (SIC 52xx)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Neutral profile · Score 62/100

FactorValueScoreWeight used
ROIC · Quality10.3%40 (vs peers)12%
Net margin · Quality5.1%50 (vs peers)7%
FCF conversion · Quality142.9%100 (on a fixed band)7%
Revenue CAGR 3Y · Growth3.2%26 (on a fixed band)9%
EPS CAGR 3Y · Growth-11.6%0 (on a fixed band)9%
Net debt / EBITDA · Balance sheet-0.4x100 (vs peers)12%
Interest coverage · Balance sheet102.3x100 (on a fixed band)7%
Current ratio · Balance sheet1.3x43 (on a fixed band)5%
P/E (TTM) · Valuation23.9x67 (vs peers)12%
EV/EBITDA · Valuation9.7x80 (vs peers)12%
FCF yield · Valuation6.2%77 (on a fixed band)9%
Shareholder yield (distributions) · Returnsunavailableunavailable—
Payout ratio (FCF) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet89/100 · 3/3 factors with a value
  • Growth13/100 · 2/2 factors with a value
  • Quality59/100 · 3/3 factors with a value
  • Returns· partialunavailable · 0/2 factors with a value
  • Valuation74/100 · 3/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

Floor & Decor Holdings, Inc. (FND). Latest full fiscal year: 2025; data up to 2026-09-24.

Figures computed from the financial statements: revenue 4.7 bn USD in 2025; YoY growth 5.1%; net margin 5.1%; ROE 9.9%; net debt/EBITDA -0.4x.

The estimated value range is 44.87–67.72 USD per share (median of 3 methods, agreement: high); assumptions are illustrative. Against the central value of 55.55 USD, the price of 53.41 USD leaves a potential of 4.0% (value / price − 1) and a margin of safety of 3.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

olivLaw score 62/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • FCF conversion: 142.9%
  • Net debt / EBITDA: -0.4x
  • Interest coverage: 102.3x
  • EV/EBITDA: 9.7x
  • FCF yield: 6.2%

What contradicts it

  • Revenue CAGR 3Y: 3.2%
  • EPS CAGR 3Y: -11.6%

Not assessed (insufficient data or a ratio without meaning): Shareholder yield (distributions), Payout ratio (FCF).

Versus the vertical median

Building materials and hardware retail (SIC 52xx) · same major group (2-digit SIC) · compared with 10 companies

Multiples and returns vs the median

P/E
23.9x
vertical median 29.2x
below median (−17.9%)
EV/EBITDA
9.7x
vertical median 11.3x
below median (−14.5%)
P/S
1.2x
vertical median 1.2x
at median
P/B
2.2x
vertical median 4.5x
below median (−50.6%)
ROE
9.9%
vertical median 1.0%
above median (+923.6%)
Net margin
5.1%
vertical median 3.8%
above median (+32.4%)
EBIT margin
6.5%
vertical median 2.1%
above median (+202.9%)
Revenue YoY
5.1%
vertical median 2.3%
above median (+120.7%)
Net debt/EBITDA
-0.4x
vertical median -0.1x
below median
Dividend yield
—
vertical median 2.1%

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
HDThe Home Depot, Inc.354.6 bn24.9104.3%8.4%+3.2%−0% / +13%
LOWLowes Companies Inc128.7 bn19.4—7.3%+3.1%−5% / +15%
SHWThe Sherwin-Williams Company87.8 bn33.463.7%10.7%+2.1%+6% / +30%
FASTFastenal Co61.0 bn43.135.3%15.6%+8.7%+32% / +77%
TSCOTractor Supply Co19.1 bn10.373.4%11.9%+4.3%−33% / −10%
BLDRBuilders Firstsource, Inc.7.5 bn185.91.0%0.3%−7.4%−38% / −48%
FNDFloor & Decor Holdings, Inc.5.6 bn23.99.9%5.1%+5.1%−13% / −34%
GRWGGrowgeneration Corp.89.6 m—-17.1%-10.1%−14.4%−2% / −43%
JCTCJewett-Cameron Trading Company Ltd.10.1 m—-43.7%-20.9%−12.4%+17% / −41%
IPWiPower Inc.1.9 m—-66.0%-58.2%−68.4%−100% / −100%
ZKHZKH Group Limited——-4.6%-1.6%+2.6%−59% / unavailable

1- and 3-year price returns: for FND from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
1 years
32.09
Total return -40% · Per year -40%
56.77
Total return 6% · Per year 6%
85.56
Total return 60% · Per year 60%
3 years
30.32
Total return -43% · Per year -17%
60.43
Total return 13% · Per year 4%
100.12
Total return 87% · Per year 23%
5 years
28.65
Total return -46% · Per year -12%
64.33
Total return 20% · Per year 4%
117.17
Total return 119% · Per year 17%
What moves the 3-year price the most
  • Exit P/E± 15.11
  • Net margin± 10.58
  • Annual revenue growth± 8.79
  • Annual dilution± 0.89

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 30 Jul 2026; since then the company filed 8-K (29 Oct 2026 · results), 10-Q (29 Oct 2026).

In brief

Floor & Decor is a specialty retailer of hard surface flooring and related accessories that sells at everyday low prices through warehouse-format stores and also sells commercial surfaces. The company keeps expanding its store base, but demand for large home improvement projects remains weak and comparable store sales have declined in recent quarters, including the second quarter of fiscal 2026 23.

SWOT

Strengths

  • A broad in-stock assortment and direct sourcing from manufacturers support everyday low prices and a clear position in hard surface flooring 1.
  • Large stores and free design services support the customer experience and sales to professionals 1.
  • Gross margin rose in the second quarter with help from tariff refunds, and management continued to return capital to shareholders through buybacks 23.

Weaknesses

  • Comparable store sales declined in fiscal 2025 and the first half of fiscal 2026, showing dependence on renovation demand 12.
  • Newer stores carry higher construction and operating costs and have struggled to reach profitability targets 1.
  • Most real estate is leased, which creates fixed obligations and limits financial flexibility 1.

Opportunities

  • Expanding the store base across the United States could deepen market share over time 1.
  • A larger share of professional customers and growth in commercial surfaces could diversify demand 12.
  • If home sales and mortgage rates normalize, renovation demand could recover 23.

Threats

  • High interest rates and inflation could keep budgets for large flooring projects under pressure 1.
  • Competitors that use technology and e-commerce more effectively could gain market share 1.
  • Tariffs and trade policy can affect sourcing costs, and regulatory changes can make store openings harder 12.

Risks

  • Weak demand for renovationshigh

    If borrowing costs stay high or home sales stay low, buyers could postpone flooring projects, affecting sales and margins 12.

  • Declining comparable store saleshigh

    The decline in comparable store sales could continue, making net sales growth depend largely on new stores 12.

  • Expansion and construction costsmedium

    Permit delays and rising construction costs could slow store openings and reduce the profitability of new units 1.

  • Lease commitmentsmedium

    Fixed rent obligations, which rise periodically, could limit financing capacity if sales fall 1.

  • Brand image and digital competitionlow

    Negative publicity or competition from e-commerce could affect the brand and demand, especially in new markets 1.

Investment thesis

What would need to be true (bull case)

  • If the housing market normalizes, demand for flooring could recover quickly, and the broad assortment and everyday low prices could support market share 12.
  • The fiscal 2026 guidance includes a 53rd week and an expected increase in net sales, which could support profitability if comparable sales improve 3.
  • A growing share of professional customers and the maturing of newer stores could lift comparable sales over the long term 12.

What would break the thesis

  • If home sales and renovations remain weak, comparable sales could keep declining and margins could come under pressure from heavier promotions 12.
  • The second-quarter margin gain included a one-time tariff refund, so underlying margins could be weaker than the reported figures suggest 23.
  • Newer store classes have lower first-year sales and weaker returns, which could slow the path to long-term targets 1.

What to watch

  • Comparable store sales against guidance of (4.0)% to flatQ3 2026
  • Gross margin trend excluding the one-time tariff refund benefitQ3 2026
  • Number of new stores opened against the target of 20 for fiscal 20262026
  • Fiscal 2026 results including the effect of the 53rd weeknext 10-K

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 30 Jul 2026; since then the company filed 8-K (29 Oct 2026 · results), 10-Q (29 Oct 2026).

The business

Floor & Decor, founded in 2000, is a multi-channel specialty retailer of hard surface flooring and related accessories and a seller of commercial surfaces, operating 270 warehouse-format stores across 39 states as of December 25, 2025 1. The company says it offers the broadest in-stock assortment of laminate and vinyl, tile, wood and natural stone flooring, along with adjacent categories such as vanities and kitchen cabinets, with on average approximately 4,200 SKUs per store 1. Its direct sourcing model with more than 240 vendors supports its everyday low price strategy 1. Customers are both professionals and homeowners, and in the second quarter of fiscal 2026 about 55% of store retail sales came from Pros 2.

The company spends approximately 2% to 3% of net sales on advertising, relying on a mix of digital and in-store channels 1. The FloorandDecor.com website lets customers check availability, order for in-store pickup or delivery and find design ideas, while free in-store design services and the Pro Premier loyalty program complete the offer 1.

Over the long term management aims to grow the US store base to at least 500 warehouse-format stores and to lift comparable store sales as newer stores mature 1. For fiscal 2026 the company plans to open 20 new stores and invest between 240 and 275 million dollars in capital expenditures 3.

Segments

Warehouse-format stores

The core segment consists of warehouse-format stores averaging about 76,000 square feet that sell flooring, accessories and installation tools, and the company opened 20 new stores during fiscal 2025 1. By June 25, 2026 the store count had reached 281, and comparable store sales declined in the first half of fiscal 2026 2.

Commercial surfaces

The company also sells commercial surfaces, a business expanded through the 2021 acquisition of Spartan Surfaces, which does not operate through stores and is excluded from comparable store sales 12. Management pursues both organic growth and acquisitions to address the full commercial market 1.

Market context

Floor & Decor operates in the large, growing and highly fragmented US retail hard surface flooring market 1. Long-term growth is supported by existing home sales, aging housing stock, rising home equity and the shift from carpet to hard surfaces 1. Management notes, however, that high mortgage rates and low home sales have reduced remodeling activity 12.

The share of Pro customers in store retail sales rose to about 55% in the second quarter of fiscal 2026 from about 50% a year earlier, pointing to a shift in demand toward the professional segment 2.

Trends

  • Existing home sales and mortgage ratesheadwind

    High borrowing costs and low home sales have reduced renovation projects and demand for flooring, which contributed to lower comparable store sales in fiscal 2025 and the first half of fiscal 2026 12.

  • Aging homes and the shift to hard surfacestailwind

    Older housing and the replacement of carpet with hard surface flooring remain structural factors that management says support long-term demand 1.

  • Pricing and tariffsmixed

    Strategic price increases lifted the comparable average ticket, and in the second quarter the company recognized a one-time benefit from IEEPA tariff refunds that supported gross margin 2.

  • Construction costs for new storesheadwind

    Higher construction costs have made it harder for recent store classes to reach sales and profitability targets, which could slow the return on investment in new stores 1.

Competitive position

Competition comes from big-box home improvement centers, national and regional specialty flooring retailers, independent flooring retailers and distributors, and omnichannel retailers with similar offers add pressure 1. The company differentiates itself through broad assortment and larger store formats than most specialty competitors 1.

Customers increasingly compare prices and availability with digital tools, and if competitors integrated emerging technologies such as artificial intelligence more effectively, Floor & Decor could face a competitive disadvantage 1.

  • Big-box home improvement centers

    Large home improvement chains with a small share of floor space devoted to hard surfaces, named in the source as a main competitor.

  • National and regional specialty flooring retailers

    Flooring specialists, generally smaller, with narrower in-stock assortments, cited as direct competitors.

  • Independent flooring retailers

    Local stores competing on service and niches without the company's sourcing scale.

  • Flooring distributors

    Distributors selling to professionals that can compete on price and availability.

News & filings

In the press

No news in our archive over the last 180 days.

SEC filings

Sources

  1. [1] Form 10-K, fiscal year ended 2025-12-25 · SEC / Floor & Decor Holdings, Inc. · 19 Feb 2026
  2. [2] Form 10-Q, quarter ended 2026-06-25 · SEC / Floor & Decor Holdings, Inc. · 30 Jul 2026
  3. [3] Form 8-K, results release (exhibit 99.1) · SEC / Floor & Decor Holdings, Inc. · 30 Jul 2026

Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.