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Five Below

FIVE Nasdaq Specialty Stores Financials FY2016–FY2025

Five Below's revenue rose 22.9% to $4.8 billion in fiscal 2025. Its operating margin was 9.6%, up from 8.3% a year earlier. Free cash flow was $412 million, up 286.0%. The diluted share count rose 0.5%.

Last close · Oct 23, 2026

$223.24

1.2%
Value it Compare
Revenue Total sales reported in the income statement.
$4.8B
22.9% vs prior year
Operating margin Operating income as a share of revenue.
9.6%
1.3 pts
Net income Profit after all expenses, interest and tax.
$359M
41.4%
Free cash flow Cash from operations minus capital spending.
$412M
286.0%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
26.9%
6.7 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$12.4B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
20.0x
On $11.16 EPS (TTM)

About these figures. Five Below reports no borrowings (its credit line is undrawn), so debt is counted as zero.

What Five Below does

Five Below is a discount retailer aimed at kids, teens and their parents. Its stores sell candy, clothing and accessories, party goods, room decor, craft supplies, tech accessories, sports items and newer trend products, most priced at $5 and below, along with some licensed and branded items. It also sells online, with home delivery or pickup in stores.

Five Below reports one business and earns its revenue from selling those goods. At the end of fiscal 2025 (January 31, 2026) it operated 1,921 stores in 46 states, typically about 9,500 square feet and located in shopping centers. It opened 150 net new stores in fiscal 2025 and plans about the same number in fiscal 2026. It says it could eventually have more than 3,500 stores. Net sales grew from $3.6 billion in fiscal 2023 to $4.8 billion in fiscal 2025.

The company buys from a broad range of vendors, most of them based in the U.S., and moves goods through its own distribution centers, which it calls shipcenters. It says it competes with other retailers, and its business is seasonal, with the holiday season the most important.

Legal name
Five Below, Inc.
Fiscal year ends
January 31, 2026
Latest annual report
10-K · Mar 19, 2026
Accession · CIK
0001177609-26-000010
0001177609

Revenue and margins

Five Below had $4.8B of revenue in fiscal 2025, up 22.9% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 19.5% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $412M in fiscal 2025, 8.6% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Five Below returned $0.0M to shareholders in fiscal 2025, 0% of free cash flow. The diluted share count rose 0.5%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Five Below yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of $932M and divides by 55.4M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 20.0x · peers 10.1x · sector 17.7x.

Balance sheet

Cash, debt and the ratios that show how comfortably Five Below can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $342M$399M$460M$529M$932M
Debt incl. finance leases $0.0M$0.0M$0.0M$0.0M$0.0M
Net debt / EBITDA −0.7x−0.9x−0.9x−1.1x−1.4x
Debt / equity 0.0x0.0x0.0x0.0x0.0x
Interest coverage 643.9x642.5x777.4x771.0x963.0x
Current ratio 1.5x1.8x1.7x1.8x2.0x
Quick ratio 0.8x0.9x0.9x0.9x1.1x
Total assets $2.9B$3.3B$3.9B$4.3B$4.9B
Total liabilities $1.8B$2.0B$2.3B$2.5B$2.7B
Shareholders' equity $1.1B$1.4B$1.6B$1.8B$2.2B
Net debt (− = net cash) −$342M−$399M−$460M−$529M−$932M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.1M

1 insider

Sold, 12 months

$15.4M

7 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Sep 14, 2026 Eric M SpecterCAO Sold 5,500 $248.99 $1.4M Form 4
Sep 10, 2026 Jacob Kimball HawkinsCmoo Sold 818 $248.88 $0.2M Form 4
Sep 9, 2026 Maureen Marie GellermanCHRO Sold 1,610 $248.94 $0.4M Form 4
Sep 4, 2026 Kenneth R BullCOO Sold 10,510 $248.06 $2.6M Form 4
Sep 4, 2026 Michael F Devine IIIDirector Sold 4,250 $250.61 $1.1M Form 4
Jun 29, 2026 Robert LynchDirector Bought 530 $176.06 $0.1M Form 4
Mar 26, 2026 Richard L MarkeeDirector Sold 3,000 $232.04 $0.7M Form 4
Mar 24, 2026 Ronald SargentDirector Sold 10,000 $231.75 $2.3M Form 4
Mar 23, 2026 Ronald SargentDirector Sold 10,000 $231.28 $2.3M Form 4
Mar 20, 2026 Kenneth R BullCOO Sold 10,000 $234.14 $2.3M Form 4
Jan 15, 2026 Kenneth R BullCOO Sold 1,925 $202.29 $0.4M Form 4
Jan 13, 2026 Eric M SpecterCAO Sold 8,500 $201.16 $1.7M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✕ ✕
Current ratio rose ✕ ✓ ✓
Share count didn't rise ✓ ✓ ✕
Gross margin rose ✓ ✕ ✓
Revenue rose relative to assets ✓ ✕ ✓
F-score 6 / 95 / 97 / 9
Accruals ratio −5.5%−4.3%−4.9%
Altman Z'' 3.403.394.07

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Five Below FIVE $12.4B 22.9% 9.6% 8.6% 26.9% 20.0x 7
Academy Sports + Outdoors ASO $3.8B 2.0% 8.5% 3.7% 17.6% 10.1x 7 Compare →
Sally Beauty SBH $1.7B −0.4% 8.9% 4.7% 16.1% 9.1x 8 Compare →
Signet Jewelers SIG $4.6B 1.6% 5.8% 7.7% 24.9% 13.6x 8 Compare →
MarineMax HZO $1.2B −5.0% 1.5% 0.5% 1.4% — 5 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.0B $1.3B $1.6B $1.8B $2.0B $2.8B $3.1B $3.6B $3.9B $4.8B
Gross profit $357M $463M $565M $674M $652M $1.0B $1.1B $1.3B $1.4B $1.7B
Operating income $114M $157M $187M $217M $155M $380M $345M $386M $324M $457M
Interest expense $0.0M $0.0M $0.0M $0.0M $0.8M $0.6M $0.5M $0.5M $0.4M $0.5M
Pretax income $114M $159M $192M $222M $153M $367M $348M $401M $339M $480M
Income tax $42.4M $56.4M $42.2M $46.5M $29.7M $87.9M $86.0M $100M $85.1M $122M
Net income $71.8M $103M $150M $175M $123M $279M $262M $301M $254M $359M
Diluted EPS $1.30 $1.84 $2.66 $3.12 $2.20 $4.95 $4.69 $5.41 $4.60 $6.47
Diluted shares 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B
Cash flow
Cash from operations $107M $167M $184M $187M $366M $328M $315M $500M $431M $586M
Capital expenditure $44.8M $67.8M $114M $212M $200M $288M $252M $335M $324M $175M
Free cash flow $61.8M $99.6M $70.4M −$25.3M $166M $39.8M $63.0M $165M $107M $412M
Depreciation and amortization $26.6M $33.2M $55.0M $55.0M $69.3M $84.8M $106M $131M $167M $192M
Stock-based compensation $12.0M $16.4M $12.0M $12.4M $9.6M $25.8M $23.6M $17.9M $15.6M $34.7M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $2.0M $36.9M $12.7M $60.0M $40.0M $80.5M $40.2M $0.0M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.0M $0.0M $2.0M $36.9M $12.7M $60.0M $40.0M $80.5M $40.2M $0.0M
Balance sheet
Cash and short-term investments $154M $245M $337M $262M $410M $342M $399M $460M $529M $932M
Total debt $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $340M $479M $642M $666M $755M $905M $1.1B $1.2B $1.4B $1.9B
Current liabilities $117M $165M $253M $351M $436M $587M $603M $716M $756M $954M
Inventory $154M $187M $244M $324M $281M $455M $528M $585M $660M $847M
Property and equipment, net $138M $180M $301M $439M $565M $778M $926M $1.1B $1.3B $1.2B
Total assets $501M $696M $952M $2.0B $2.3B $2.9B $3.3B $3.9B $4.3B $4.9B
Total liabilities $169M $237M $337M $1.2B $1.4B $1.8B $2.0B $2.3B $2.5B $2.7B
Shareholders' equity $331M $459M $615M $760M $882M $1.1B $1.4B $1.6B $1.8B $2.2B
Margins
Gross margin 35.7% 36.3% 36.2% 36.5% 33.3% 36.2% 35.6% 35.8% 34.9% 36.0%
Operating margin 11.4% 12.3% 12.0% 11.8% 7.9% 13.3% 11.2% 10.8% 8.4% 9.6%
EBITDA margin 14.1% 14.9% 15.5% 14.7% 11.4% 16.3% 14.7% 14.5% 12.7% 13.6%
Net margin 7.2% 8.0% 9.6% 9.5% 6.3% 9.8% 8.5% 8.5% 6.5% 7.5%
FCF margin 6.2% 7.8% 4.5% −1.4% 8.5% 1.4% 2.1% 4.6% 2.8% 8.6%
Returns
Return on capital 44.4% 51.9% 59.4% 44.3% 25.7% 46.2% 29.8% 27.7% 20.2% 26.9%
Return on capital employed 33.8% 34.4% 30.4% 18.8% 8.9% 18.2% 13.8% 13.1% 9.6% 12.1%
Return on equity 25.0% 25.9% 27.9% 25.5% 15.0% 27.9% 21.1% 20.4% 15.0% 17.9%
Return on assets 16.1% 17.1% 18.2% 12.0% 5.8% 10.7% 8.4% 8.4% 6.2% 7.7%
Growth
Revenue growth 20.3% 27.8% 22.0% 18.4% 6.3% 45.2% 8.0% 15.7% 8.9% 22.9%
Net income growth 24.6% 42.6% 46.1% 17.0% −29.5% 126.0% −6.2% 15.1% −15.8% 41.4%
EPS growth 23.8% 41.5% 44.6% 17.3% −29.5% 125.0% −5.3% 15.4% −15.0% 40.7%
FCF growth 77.4% 61.1% −29.3% −135.9% — −76.0% 58.4% 161.3% −35.2% 286.0%
Share count change 0.6% 0.8% 1.2% −0.1% −0.2% 0.4% −1.0% −0.2% −0.8% 0.5%
Financial health
Net debt / EBITDA −1.1x −1.3x −1.4x −1.0x −1.8x −0.7x −0.9x −0.9x −1.1x −1.4x
Debt / equity 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x
Interest coverage 11,396.2x 39,347.8x 62,394.7x — 204.5x 643.9x 642.5x 777.4x 771.0x 963.0x
Current ratio 2.9x 2.9x 2.5x 1.9x 1.7x 1.5x 1.8x 1.7x 1.8x 2.0x
Quick ratio 1.6x 1.8x 1.6x 1.0x 1.1x 0.8x 0.9x 0.9x 0.9x 1.1x
Capital allocation
Capex / revenue 4.5% 5.3% 7.3% 11.5% 10.2% 10.1% 8.2% 9.4% 8.4% 3.7%
Stock comp / revenue 1.2% 1.3% 0.8% 0.7% 0.5% 0.9% 0.8% 0.5% 0.4% 0.7%
Payouts / FCF 0.0% 0.0% 2.8% — 7.6% 151.0% 63.5% 48.9% 37.7% 0.0%
Quality scores
Piotroski F-score 5.0 6.0 4.0 5.0 4.0 6.0 5.0 6.0 5.0 7.0
Altman Z'' 6.6 7.0 6.8 3.2 2.8 3.2 3.4 3.4 3.4 4.1
Accruals ratio −7.8% −10.9% −4.2% −0.8% −11.4% −1.9% −1.7% −5.5% −4.3% −4.9%

Source: SEC EDGAR XBRL filings (CIK 0001177609). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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