Floor & Decor vs Harley-Davidson
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The short version
- Floor & Decor is the larger business, with $4.7B of revenue in fiscal 2025 against $4.5B for Harley-Davidson.
- Floor & Decor grew revenue faster (5.1%, against −13.8%).
- Harley-Davidson kept more of each dollar of sales as operating profit (8.6% operating margin, against 5.8%).
- Harley-Davidson turned more of its sales into free cash flow (9.3% FCF margin, against 1.4%).
- Floor & Decor earned a higher return on the capital invested in it (9.3%, against 4.8%).
- Investors pay more for each dollar of Floor & Decor’s earnings: a P/E of 22.2x against 15.9x for Harley-Davidson.
| Latest fiscal year | FND · FY25 | HOG · FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.2B | $3.1B |
| Revenue | $4.7B | $4.5B |
| Free cash flow | $64.1M | $415M |
| Net income | $209M | $339M |
| Growth | ||
| Revenue growth | 5.1% | −13.8% |
| 5-year growth | 14.1% | 2.0% |
| Share count change | 0.1% | −8.3% |
| Profitability | ||
| Gross margin | 43.6% | 38.7% |
| Operating margin | 5.8% | 8.6% |
| Net margin | 4.5% | 7.6% |
| FCF margin | 1.4% | 9.3% |
| Return on capital | 9.3% | 4.8% |
| Return on equity | 9.1% | 10.7% |
| Balance sheet | ||
| Net debt | −$53.1M | −$125M |
| Net debt / EBITDA | −0.1x | −0.2x |
| Dividends and buybacks | $0.0M | $440M |
| Valuation & quality | ||
| P/E | 22.2x | 15.9x |
| Piotroski F-score | 6 | 6 |
Revenue
FY16
FND $1.1B
HOG $6.0B
FY17
FND $1.4B
HOG $5.6B
FY18
FND $1.7B
HOG $5.7B
FY19
FND $2.0B
HOG $5.4B
FY20
FND $2.4B
HOG $4.1B
FY21
FND $3.4B
HOG $5.3B
FY22
FND $4.3B
HOG $5.8B
FY23
FND $4.4B
HOG $5.8B
FY24
FND $4.5B
HOG $5.2B
FY25
FND $4.7B
HOG $4.5B
FND
HOG
Operating margin
FY16
FND 6.6%
HOG 17.5%
FY17
FND 8.5%
HOG 15.6%
FY18
FND 7.7%
HOG 12.5%
FY19
FND 7.8%
HOG 10.4%
FY20
FND 8.9%
HOG 0.2%
FY21
FND 9.9%
HOG 15.4%
FY22
FND 9.3%
HOG 15.8%
FY23
FND 7.3%
HOG 13.4%
FY24
FND 5.8%
HOG 8.0%
FY25
FND 5.8%
HOG 8.6%
FND
HOG
Free cash flow
FY16
FND $14.8M
HOG $918M
FY17
FND $7.0M
HOG $799M
FY18
FND $34.2M
HOG $992M
FY19
FND $8.7M
HOG $687M
FY20
FND $194M
HOG $1.0B
FY21
FND −$106M
HOG $856M
FY22
FND −$344M
HOG $397M
FY23
FND $256M
HOG $547M
FY24
FND $156M
HOG $867M
FY25
FND $64.1M
HOG $415M
FND
HOG
Return on capital
FY16
FND —
HOG 8.9%
FY17
FND 20.4%
HOG 6.6%
FY18
FND 18.3%
HOG 6.8%
FY19
FND 19.8%
HOG 5.1%
FY20
FND 22.7%
HOG 0.1%
FY21
FND 25.2%
HOG 8.7%
FY22
FND 17.9%
HOG 9.1%
FY23
FND 12.2%
HOG 7.3%
FY24
FND 9.7%
HOG 4.1%
FY25
FND 9.3%
HOG 4.8%
FND
HOG
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.