Five Below vs Floor & Decor
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The short version
- Five Below is the larger business, with $4.8B of revenue in fiscal 2025 against $4.7B for Floor & Decor.
- Five Below grew revenue faster (22.9%, against 5.1%).
- Five Below kept more of each dollar of sales as operating profit (9.6% operating margin, against 5.8%).
- Five Below turned more of its sales into free cash flow (8.6% FCF margin, against 1.4%).
- Five Below earned a higher return on the capital invested in it (26.9%, against 9.3%).
- Investors pay more for each dollar of Floor & Decor’s earnings: a P/E of 22.2x against 20.0x for Five Below.
| Latest fiscal year | FIVE · FY25 | FND · FY25 |
|---|---|---|
| Size | ||
| Market cap | $12.4B | $5.2B |
| Revenue | $4.8B | $4.7B |
| Free cash flow | $412M | $64.1M |
| Net income | $359M | $209M |
| Growth | ||
| Revenue growth | 22.9% | 5.1% |
| 5-year growth | 19.4% | 14.1% |
| Share count change | 0.5% | 0.1% |
| Profitability | ||
| Gross margin | 36.0% | 43.6% |
| Operating margin | 9.6% | 5.8% |
| Net margin | 7.5% | 4.5% |
| FCF margin | 8.6% | 1.4% |
| Return on capital | 26.9% | 9.3% |
| Return on equity | 17.9% | 9.1% |
| Balance sheet | ||
| Net debt | −$932M | −$53.1M |
| Net debt / EBITDA | −1.4x | −0.1x |
| Dividends and buybacks | $0.0M | $0.0M |
| Valuation & quality | ||
| P/E | 20.0x | 22.2x |
| Piotroski F-score | 7 | 6 |
Revenue
FY16
FIVE $1.0B
FND $1.1B
FY17
FIVE $1.3B
FND $1.4B
FY18
FIVE $1.6B
FND $1.7B
FY19
FIVE $1.8B
FND $2.0B
FY20
FIVE $2.0B
FND $2.4B
FY21
FIVE $2.8B
FND $3.4B
FY22
FIVE $3.1B
FND $4.3B
FY23
FIVE $3.6B
FND $4.4B
FY24
FIVE $3.9B
FND $4.5B
FY25
FIVE $4.8B
FND $4.7B
FIVE
FND
Operating margin
FY16
FIVE 11.4%
FND 6.6%
FY17
FIVE 12.3%
FND 8.5%
FY18
FIVE 12.0%
FND 7.7%
FY19
FIVE 11.8%
FND 7.8%
FY20
FIVE 7.9%
FND 8.9%
FY21
FIVE 13.3%
FND 9.9%
FY22
FIVE 11.2%
FND 9.3%
FY23
FIVE 10.8%
FND 7.3%
FY24
FIVE 8.4%
FND 5.8%
FY25
FIVE 9.6%
FND 5.8%
FIVE
FND
Free cash flow
FY16
FIVE $61.8M
FND $14.8M
FY17
FIVE $99.6M
FND $7.0M
FY18
FIVE $70.4M
FND $34.2M
FY19
FIVE −$25.3M
FND $8.7M
FY20
FIVE $166M
FND $194M
FY21
FIVE $39.8M
FND −$106M
FY22
FIVE $63.0M
FND −$344M
FY23
FIVE $165M
FND $256M
FY24
FIVE $107M
FND $156M
FY25
FIVE $412M
FND $64.1M
FIVE
FND
Return on capital
FY16
FIVE 44.4%
FND —
FY17
FIVE 51.9%
FND 20.4%
FY18
FIVE 59.4%
FND 18.3%
FY19
FIVE 44.3%
FND 19.8%
FY20
FIVE 25.7%
FND 22.7%
FY21
FIVE 46.2%
FND 25.2%
FY22
FIVE 29.8%
FND 17.9%
FY23
FIVE 27.7%
FND 12.2%
FY24
FIVE 20.2%
FND 9.7%
FY25
FIVE 26.9%
FND 9.3%
FIVE
FND
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.