Flowers Foods (FLO) Financials

$17.00 -0.02 (-0.09%)

Closing price 03:59 PM Eastern

Extended Trading

$17.15 +0.15 (+0.85%)

As of 07:48 PM Eastern

Annual Income Statements for Flowers Foods

This table shows Flowers Foods' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/28/2024	12/30/2023	12/31/2022	1/1/2022	1/2/2021	12/28/2019	12/29/2018	12/30/2017	12/31/2016	1/2/2016
Net Income / (Loss) Attributable to Common Shareholders	248	123	228	206	152	165	157	150	164	189
Consolidated Net Income / (Loss)	248	123	228	206	152	165	157	150	164	189
Net Income / (Loss) Continuing Operations	248	123	228	206	152	165	157	150	164	189
Total Pre-Tax Income	329	157	299	271	201	212	197	149	250	293
Total Operating Income	348	173	303	295	321	225	212	156	258	298
Total Gross Profit	2,526	2,459	2,304	2,156	2,192	1,968	1,885	1,911	1,900	1,815
Total Revenue	5,103	5,091	4,806	4,331	4,388	4,124	3,952	3,921	3,927	3,779
Operating Revenue	5,103	5,091	4,806	4,331	4,388	4,124	3,952	3,921	3,927	3,779
Total Cost of Revenue	2,577	2,632	2,502	2,175	2,196	2,156	2,067	2,009	2,027	1,963
Operating Cost of Revenue	2,577	2,632	2,502	2,175	2,196	2,156	2,067	2,009	2,027	1,963
Total Operating Expenses	2,178	2,286	2,001	1,861	1,870	1,743	1,673	1,755	1,642	1,517
Selling, General & Admin Expense	2,001	2,120	1,851	1,720	1,693	1,575	1,507	1,510	1,469	1,382
Depreciation Expense	159	152	142	137	141	144	144	147	141	132
Impairment Charge	10	7.30	7.83	0.00	0.00	-	6.00	-	25	3.77
Restructuring Charge	7.40	7.10	0.00	0.00	35	24	9.77	104	-	-
Other Special Charges / (Income)	0.00	0.00	0.24	0.94	0.11	-0.04	3.21	-24	6.65	-
Total Other Income / (Expense), net	-19	-16	-4.50	-24	-121	-13	-15	-7.06	-8.72	-4.85
Interest Expense	37	37	29	48	39	39	36	37	35	27
Interest & Investment Income	18	21	24	24	27	28	28	23	21	22
Other Income / (Expense), net	0.27	0.27	0.77	0.00	-109	-2.25	-7.25	6.56	5.64	-
Income Tax Expense	81	34	70	65	48	48	40	-0.83	86	104
Basic Earnings per Share	$1.18	$0.58	$1.08	$0.97	$0.72	$0.78	$0.74	$0.72	$0.79	$0.90
Weighted Average Basic Shares Outstanding	211.02M	211.63M	211.90M	211.84M	211.78M	211.61M	211.02M	209.57M	208.51M	210.79M
Diluted Earnings per Share	$1.17	$0.58	$1.07	$0.97	$0.72	$0.78	$0.74	$0.71	$0.78	$0.89
Weighted Average Diluted Shares Outstanding	212.14M	213.36M	213.23M	213.03M	212.35M	211.97M	211.63M	210.44M	210.35M	213.36M
Weighted Average Basic & Diluted Shares Outstanding	210.84M	210.57M	211.27M	211.54M	211.70M	211.58M	212.40M	208.50M	207.30M	210.20M
Cash Dividends to Common per Share	$0.95	$0.91	$0.87	$0.83	$0.79	$0.75	$0.71	$0.67	$0.63	$0.57

This table shows Flowers Foods' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/28/2024	10/5/2024	7/13/2024	4/20/2024	12/30/2023	10/7/2023	7/15/2023	4/22/2023	12/31/2022	10/8/2022
Net Income / (Loss) Attributable to Common Shareholders	43	65	67	73	36	-47	64	71	49	41
Consolidated Net Income / (Loss)	43	65	67	73	36	-47	64	71	49	41
Net Income / (Loss) Continuing Operations	43	65	67	73	36	-47	64	71	49	41
Total Pre-Tax Income	57	86	90	96	46	-63	84	90	64	54
Total Operating Income	61	90	95	102	50	-59	89	94	64	55
Total Gross Profit	543	592	612	780	541	582	602	734	507	543
Total Revenue	1,111	1,191	1,225	1,577	1,129	1,199	1,228	1,534	1,083	1,158
Operating Revenue	1,111	1,191	1,225	1,577	1,129	1,199	1,228	1,534	1,083	1,158
Total Cost of Revenue	568	598	613	797	588	617	626	801	576	616
Operating Cost of Revenue	568	598	613	797	588	617	626	801	576	616
Total Operating Expenses	482	502	516	678	492	641	513	640	443	487
Selling, General & Admin Expense	444	460	471	625	448	604	476	592	410	447
Depreciation Expense	37	37	37	48	37	36	35	44	33	33
Impairment Charge	0.45	4.48	1.38	4.00	6.26	1.03	0.00	0.00	-	6.84
Total Other Income / (Expense), net	-4.17	-4.66	-4.91	-5.61	-3.68	-4.01	-4.19	-3.89	0.27	-1.16
Interest Expense	8.16	8.69	8.98	11	8.21	8.55	9.01	11	6.68	6.80
Interest & Investment Income	3.84	3.91	4.07	5.69	4.33	4.54	4.76	6.95	6.35	5.46
Income Tax Expense	14	21	23	23	10	-17	21	19	15	14
Basic Earnings per Share	$0.20	$0.31	$0.32	$0.35	$0.17	($0.22)	$0.30	$0.33	$0.24	$0.19
Weighted Average Basic Shares Outstanding	211.02M	210.82M	211.36M	211.08M	211.63M	211.52M	212.03M	211.77M	211.90M	212.02M
Diluted Earnings per Share	$0.20	$0.31	$0.32	$0.34	$0.17	($0.22)	$0.30	$0.33	$0.23	$0.19
Weighted Average Diluted Shares Outstanding	212.14M	211.98M	212.32M	212.11M	213.36M	211.52M	213.01M	213.40M	213.23M	213.33M
Weighted Average Basic & Diluted Shares Outstanding	210.84M	210.60M	210.60M	211.14M	210.57M	211.12M	211.32M	211.85M	211.27M	211.13M
Cash Dividends to Common per Share	$0.24	$0.24	$0.24	$0.23	$0.23	$0.23	$0.23	$0.22	$0.22	$0.22

This table details how cash moves in and out of Flowers Foods' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/28/2024	12/30/2023	12/31/2022	1/1/2022	1/2/2021	12/28/2019	12/29/2018	12/30/2017	12/31/2016	1/2/2016
Net Change in Cash & Equivalents	-18	-143	-12	-122	296	-14	20	-1.28	-7.97	6.86
Net Cash From Operating Activities	413	349	361	345	454	367	296	297	357	336
Net Cash From Continuing Operating Activities	413	349	361	345	454	367	296	297	357	336
Net Income / (Loss) Continuing Operations	248	123	228	206	152	165	157	150	164	189
Consolidated Net Income / (Loss)	248	123	228	206	152	165	157	150	164	189
Depreciation Expense	159	152	142	137	141	144	144	147	141	132
Non-Cash Adjustments To Reconcile Net Income	56	52	40	29	163	41	32	58	56	31
Changes in Operating Assets and Liabilities, net	-50	22	-50	-27	-2.24	17	-38	-57	-3.85	-17
Net Cash From Investing Activities	-173	-404	-151	-191	-74	-97	-302	-35	-77	-470
Net Cash From Continuing Investing Activities	-173	-404	-151	-191	-74	-97	-302	-35	-77	-470
Purchase of Property, Plant & Equipment	-181	-139	-177	-205	-101	-106	-103	-82	-111	-105
Acquisitions	0.00	-275	0.00	-10	0.00	0.00	-200	-	-	-395
Purchase of Investments	0.00	-1.98	-9.00	0.00	-	-	-	-	-	-
Sale of Property, Plant & Equipment	2.14	2.31	7.68	3.00	5.37	2.65	1.91	3.94	18	14
Sale and/or Maturity of Investments	26	28	39	32	32	29	27	25	22	23
Other Investing Activities, net	-19	-18	-11	-11	-10	-23	-28	-24	-6.06	-6.83
Net Cash From Financing Activities	-258	-88	-222	-275	-84	-284	26	-263	-288	141
Net Cash From Continuing Financing Activities	-258	-88	-222	-275	-84	-284	26	-263	-288	141
Repayment of Debt	-355	-743	-329	-585	-389	-720	-28	-751	-2,150	-818
Repurchase of Common Equity	-23	-46	-35	-9.51	-0.78	-7.05	-2.49	-2.67	-126	-6.86
Payment of Dividends	-203	-195	-187	-176	-167	-160	-150	-141	-131	-120
Issuance of Debt	324	898	330	498	485	609	206	612	2,092	1,067
Other Financing Activities, net	-0.07	-1.82	-1.60	-1.75	-11	-5.94	0.79	19	28	20
Cash Interest Paid	36	35	28	53	36	36	33	34	27	24
Cash Income Taxes Paid	46	99	53	69	69	39	14	72	84	80

This table details how cash moves in and out of Flowers Foods' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/28/2024	10/5/2024	7/13/2024	4/20/2024	12/30/2023	10/7/2023	7/15/2023	4/22/2023	12/31/2022	10/8/2022
Net Change in Cash & Equivalents	-9.97	8.11	-8.95	-6.71	7.97	2.85	-16	-137	-7.61	19
Net Cash From Operating Activities	130	114	63	105	92	128	71	58	69	108
Net Cash From Continuing Operating Activities	130	114	63	105	92	128	71	58	69	108
Net Income / (Loss) Continuing Operations	43	65	67	73	36	-47	64	71	49	41
Consolidated Net Income / (Loss)	43	65	67	73	36	-47	64	71	49	41
Depreciation Expense	37	37	37	48	37	36	35	44	33	33
Non-Cash Adjustments To Reconcile Net Income	11	14	7.78	23	11	14	10	17	3.34	18
Changes in Operating Assets and Liabilities, net	39	-2.17	-48	-39	8.27	125	-38	-74	-15	17
Net Cash From Investing Activities	-60	-36	-41	-36	-37	-28	-37	-301	-32	-26
Net Cash From Continuing Investing Activities	-60	-36	-41	-36	-37	-28	-37	-301	-32	-26
Purchase of Property, Plant & Equipment	-61	-39	-42	-39	-37	-31	-35	-36	-42	-34
Sale of Property, Plant & Equipment	0.10	1.23	0.75	0.06	0.03	1.50	0.68	0.10	4.35	1.76
Sale and/or Maturity of Investments	5.85	5.97	5.76	7.93	2.86	6.68	6.41	12	8.29	9.58
Other Investing Activities, net	-4.30	-4.20	-5.54	-5.06	-3.22	-5.59	-2.70	-6.86	-2.14	-3.92
Net Cash From Financing Activities	-81	-69	-32	-76	-47	-97	-50	106	-45	-63
Net Cash From Continuing Financing Activities	-81	-69	-32	-76	-47	-97	-50	106	-45	-63
Repayment of Debt	-69	-77	-76	-133	-76	-91	-255	-321	1.61	-328
Payment of Dividends	-51	-51	-51	-51	-48	-49	-49	-49	-46	-47
Issuance of Debt	39	58	109	118	93	47	270	488	-	330
Other Financing Activities, net	0.17	-0.07	-0.07	-0.10	-0.31	-0.46	-0.45	-0.60	-0.29	-0.44

This table presents Flowers Foods' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/28/2024	12/30/2023	12/31/2022	1/1/2022	1/2/2021	12/28/2019	12/29/2018	12/30/2017	12/31/2016	1/2/2016
Total Assets	3,400	3,427	3,313	3,253	3,323	3,178	2,846	2,660	2,761	2,844
Total Current Assets	656	688	805	746	838	554	544	507	477	500
Cash & Equivalents	5.01	23	165	186	307	11	25	5.13	6.41	14
Note & Lease Receivable	335	328	349	305	300	286	287	280	272	270
Inventories, net	263	271	242	203	193	195	188	172	170	168
Other Current Assets	54	66	48	52	37	63	43	50	28	48
Plant, Property, & Equipment, net	964	963	849	799	699	718	744	732	781	805
Plant, Property & Equipment, gross	2,575	2,501	2,297	4,385	2,034	2,003	1,982	1,907	1,891	1,881
Accumulated Depreciation	1,611	1,538	1,447	1,394	1,334	1,285	1,238	1,175	1,110	1,076
Total Noncurrent Assets	1,780	1,776	1,659	1,708	1,785	1,906	1,558	1,421	1,503	1,539
Noncurrent Note & Lease Receivables	108	124	139	158	182	221	204	188	155	154
Goodwill	680	678	545	545	545	545	545	465	466	465
Intangible Assets	626	658	664	695	715	750	795	742	836	875
Other Noncurrent Operating Assets	365	317	310	310	343	389	6.93	10	9.76	7.88
Total Liabilities & Shareholders' Equity	3,400	3,427	3,313	3,253	3,323	3,178	2,846	2,660	2,761	2,844
Total Liabilities	1,990	2,075	1,870	1,842	1,950	1,914	1,587	1,409	1,551	1,601
Total Current Liabilities	549	659	564	520	504	528	400	394	341	404
Accounts Payable	261	319	343	269	226	233	242	181	173	172
Accrued Expenses	219	293	175	203	226	201	146	200	156	157
Other Current Liabilities	69	48	46	48	52	61	-	-	-	-
Total Noncurrent Liabilities	1,442	1,416	1,305	1,322	1,446	1,386	1,187	1,015	1,210	1,197
Long-Term Debt	1,022	1,048	892	891	960	863	975	820	947	930
Capital Lease Obligations	254	237	237	253	294	344	16	-	-	-
Noncurrent Deferred & Payable Income Tax Liabilities	124	91	135	134	128	121	103	83	146	146
Noncurrent Employee Benefit Liabilities	5.51	5.80	5.81	7.25	10	14	39	60	70	77
Other Noncurrent Operating Liabilities	36	34	36	38	54	44	54	52	48	44
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-
Total Equity & Noncontrolling Interests	1,410	1,352	1,443	1,411	1,373	1,263	1,258	1,251	1,210	1,243
Total Preferred & Common Equity	1,410	1,352	1,443	1,411	1,373	1,263	1,258	1,251	1,210	1,243
Preferred Stock	0.00	0.00	0.00	-	0.00	0.00	0.00	-	-	-
Total Common Equity	1,410	1,352	1,443	1,411	1,373	1,263	1,258	1,251	1,210	1,243
Common Stock	712	700	690	679	660	649	654	651	645	637
Retained Earnings	978	932	1,004	962	932	947	945	920	911	878
Treasury Stock	-286	-281	-253	-232	-225	-226	-232	-235	-262	-175
Accumulated Other Comprehensive Income / (Loss)	6.83	0.62	1.47	2.59	6.42	-106	-109	-85	-83	-97

This table presents Flowers Foods' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	10/5/2024	7/13/2024	4/20/2024	10/7/2023	7/15/2023	4/22/2023	10/8/2022
Total Assets	3,430	3,428	3,429	3,435	3,506	3,482	3,343
Total Current Assets	708	703	688	715	749	716	835
Cash & Equivalents	15	6.87	16	15	12	28	173
Note & Lease Receivable	387	390	359	365	429	372	369
Inventories, net	259	260	265	266	257	265	239
Other Current Assets	46	46	49	69	52	52	55
Plant, Property, & Equipment, net	948	955	959	962	962	959	838
Plant, Property & Equipment, gross	2,548	2,554	2,532	2,490	2,467	2,438	2,289
Accumulated Depreciation	1,600	1,599	1,573	1,528	1,505	1,479	1,451
Total Noncurrent Assets	1,775	1,770	1,782	1,758	1,795	1,807	1,670
Noncurrent Note & Lease Receivables	113	114	119	115	132	135	144
Goodwill	680	680	680	678	678	676	545
Intangible Assets	634	641	648	665	675	682	672
Other Noncurrent Operating Assets	349	336	335	301	310	313	309
Total Liabilities & Shareholders' Equity	3,430	3,428	3,429	3,435	3,506	3,482	3,343
Total Liabilities	2,023	2,044	2,053	2,060	2,036	2,020	1,909
Total Current Liabilities	569	589	622	670	555	542	595
Accounts Payable	287	299	304	329	328	343	349
Accrued Expenses	217	230	261	292	177	148	197
Other Current Liabilities	65	60	58	50	51	51	49
Total Noncurrent Liabilities	1,454	1,454	1,431	1,390	1,480	1,478	1,314
Long-Term Debt	1,054	1,069	1,044	1,038	1,075	1,063	892
Capital Lease Obligations	251	244	247	222	231	237	235
Noncurrent Deferred & Payable Income Tax Liabilities	108	100	98	91	134	136	145
Noncurrent Employee Benefit Liabilities	5.32	5.57	5.70	5.50	5.61	5.80	6.80
Other Noncurrent Operating Liabilities	36	35	36	34	35	36	36
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,407	1,384	1,376	1,375	1,470	1,462	1,435
Total Preferred & Common Equity	1,407	1,384	1,376	1,375	1,470	1,462	1,435
Preferred Stock	0.00	0.00	0.00	0.00	0.00	-	0.00
Total Common Equity	1,407	1,384	1,376	1,375	1,470	1,462	1,435
Common Stock	705	699	694	694	688	684	684
Retained Earnings	985	971	954	945	1,041	1,026	1,002
Treasury Stock	-286	-286	-273	-266	-262	-248	-253
Accumulated Other Comprehensive Income / (Loss)	2.24	0.94	0.53	1.33	2.66	-0.69	0.80

This table displays calculated financial ratios and metrics derived from Flowers Foods' official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/28/2024	12/30/2023	12/31/2022	1/1/2022	1/2/2021	12/28/2019	12/29/2018	12/30/2017	12/31/2016	1/2/2016
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.25%	5.93%	10.97%	-1.30%	6.40%	4.36%	0.79%	-0.16%	3.93%	0.79%
EBITDA Growth	56.31%	-27.16%	3.35%	21.82%	-3.60%	5.21%	12.78%	-23.50%	-5.88%	6.36%
EBIT Growth	101.32%	-43.04%	3.07%	38.59%	-4.65%	8.82%	25.89%	-38.27%	-11.41%	8.16%
NOPAT Growth	93.46%	-41.43%	3.23%	-7.95%	39.50%	3.33%	7.66%	-7.24%	-11.87%	6.52%
Net Income Growth	101.04%	-45.96%	10.77%	35.37%	-7.43%	4.69%	4.69%	-8.34%	-13.43%	7.65%
EPS Growth	101.72%	-45.79%	10.31%	34.72%	-7.69%	5.41%	4.23%	-8.97%	-12.36%	8.54%
Operating Cash Flow Growth	18.12%	-3.20%	4.72%	-24.17%	23.85%	24.02%	-0.50%	-16.60%	6.22%	6.50%
Free Cash Flow Firm Growth	374.20%	-136.94%	10.15%	-54.64%	748.83%	-1,655.93%	-98.25%	-9.20%	246.54%	-159.51%
Invested Capital Growth	2.56%	8.61%	1.63%	2.12%	-5.80%	10.53%	8.02%	-2.94%	-3.29%	19.42%
Revenue Q/Q Growth	-0.35%	0.92%	2.11%	-0.90%	2.46%	0.91%	0.18%	0.13%	0.26%	-0.50%
EBITDA Q/Q Growth	2.32%	-2.88%	2.75%	-5.23%	25.93%	-6.17%	-4.66%	11.03%	-7.02%	2.95%
EBIT Q/Q Growth	3.48%	-7.45%	3.79%	-7.62%	53.80%	-10.02%	-7.57%	23.12%	-10.32%	3.52%
NOPAT Q/Q Growth	3.09%	-6.83%	3.61%	-7.13%	26.85%	-9.90%	-23.84%	72.35%	-11.15%	2.41%
Net Income Q/Q Growth	3.09%	-9.48%	4.23%	-7.41%	54.30%	-10.17%	-26.85%	77.39%	-10.50%	2.29%
EPS Q/Q Growth	2.63%	-9.38%	3.88%	-7.62%	53.19%	-9.30%	-26.73%	73.17%	-9.30%	1.14%
Operating Cash Flow Q/Q Growth	10.22%	6.94%	12.45%	-14.96%	0.26%	7.32%	-3.12%	0.89%	4.58%	-10.60%
Free Cash Flow Firm Q/Q Growth	10.10%	16.30%	118.23%	-88.21%	10.04%	77.69%	-98.02%	16.33%	55.65%	-770.51%
Invested Capital Q/Q Growth	-0.58%	-0.21%	0.77%	114.46%	-1.33%	-1.89%	8.75%	2.09%	0.33%	5.51%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	49.50%	48.30%	47.94%	49.77%	49.95%	47.73%	47.70%	48.75%	48.39%	48.04%
EBITDA Margin	9.95%	6.38%	9.28%	9.96%	8.07%	8.91%	8.84%	7.90%	10.31%	11.38%
Operating Margin	6.82%	3.40%	6.31%	6.81%	7.33%	5.47%	5.37%	3.99%	6.58%	7.88%
EBIT Margin	6.83%	3.40%	6.33%	6.81%	4.85%	5.41%	5.19%	4.16%	6.72%	7.88%
Profit (Net Income) Margin	4.86%	2.42%	4.75%	4.76%	3.47%	3.99%	3.98%	3.83%	4.17%	5.01%
Tax Burden Percent	75.43%	78.56%	76.46%	76.15%	75.89%	77.58%	79.71%	100.55%	65.63%	64.56%
Interest Burden Percent	94.37%	90.74%	98.26%	91.81%	94.32%	95.03%	96.13%	91.64%	94.56%	98.37%
Effective Tax Rate	24.57%	21.44%	23.54%	23.85%	24.11%	22.42%	20.29%	-0.55%	34.37%	35.44%
Return on Invested Capital (ROIC)	9.92%	5.41%	9.71%	9.58%	10.20%	7.46%	7.89%	7.51%	7.84%	9.53%
ROIC Less NNEP Spread (ROIC-NNEP)	8.77%	4.30%	9.35%	7.65%	1.66%	6.50%	6.53%	6.69%	7.23%	9.15%
Return on Net Nonoperating Assets (RNNOA)	8.05%	3.42%	6.29%	5.23%	1.35%	5.59%	4.64%	4.69%	5.51%	6.46%
Return on Equity (ROE)	17.97%	8.83%	16.00%	14.81%	11.55%	13.05%	12.53%	12.20%	13.35%	15.99%
Cash Return on Invested Capital (CROIC)	7.39%	-2.84%	8.10%	7.49%	16.18%	-2.54%	0.18%	10.49%	11.19%	-8.18%
Operating Return on Assets (OROA)	10.21%	5.14%	9.26%	8.97%	6.55%	7.41%	7.45%	6.01%	9.42%	11.34%
Return on Assets (ROA)	7.27%	3.66%	6.96%	6.27%	4.69%	5.46%	5.71%	5.54%	5.84%	7.20%
Return on Common Equity (ROCE)	17.97%	8.83%	16.00%	14.81%	11.55%	13.05%	12.53%	12.20%	13.35%	15.99%
Return on Equity Simple (ROE_SIMPLE)	17.60%	9.13%	15.82%	14.61%	11.09%	13.02%	12.49%	12.00%	13.53%	15.22%
Net Operating Profit after Tax (NOPAT)	263	136	232	225	244	175	169	157	169	192
NOPAT Margin	5.15%	2.67%	4.82%	5.19%	5.56%	4.24%	4.28%	4.01%	4.32%	5.09%
Net Nonoperating Expense Percent (NNEP)	1.15%	1.11%	0.36%	1.93%	8.54%	0.95%	1.36%	0.82%	0.61%	0.37%
Return On Investment Capital (ROIC_SIMPLE)	9.78%	5.15%	9.01%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	50.50%	51.70%	52.06%	50.23%	50.05%	52.27%	52.30%	51.25%	51.61%	51.96%
SG&A Expenses to Revenue	39.21%	41.64%	38.51%	39.71%	38.59%	38.19%	38.14%	38.51%	37.42%	36.56%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	42.68%	44.90%	41.63%	42.96%	42.62%	42.26%	42.33%	44.76%	41.81%	40.16%
Earnings before Interest and Taxes (EBIT)	349	173	304	295	213	223	205	163	264	298
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	508	325	446	431	354	367	349	310	405	430
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.06	3.37	3.88	3.76	3.08	3.10	2.53	2.58	2.63	2.71
Price to Tangible Book Value (P/TBV)	41.51	280.70	23.98	31.10	37.47	0.00	0.00	74.12	0.00	0.00
Price to Revenue (P/Rev)	0.84	0.90	1.17	1.23	0.96	0.95	0.80	0.82	0.81	0.89
Price to Earnings (P/E)	17.37	36.95	24.54	25.73	27.75	23.84	20.23	21.46	19.44	17.81
Dividend Yield	4.64%	4.21%	3.28%	3.31%	3.95%	4.04%	4.71%	4.36%	4.08%	3.57%
Earnings Yield	5.76%	2.71%	4.08%	3.89%	3.60%	4.19%	4.94%	4.66%	5.14%	5.61%
Enterprise Value to Invested Capital (EV/IC)	2.08	2.23	2.73	2.64	2.23	2.08	1.87	1.96	1.95	1.98
Enterprise Value to Revenue (EV/Rev)	1.09	1.14	1.37	1.45	1.18	1.24	1.05	1.03	1.05	1.15
Enterprise Value to EBITDA (EV/EBITDA)	10.99	17.92	14.73	14.51	14.61	13.94	11.90	13.07	10.22	10.14
Enterprise Value to EBIT (EV/EBIT)	16.01	33.63	21.61	21.24	24.31	22.95	20.26	24.85	15.67	14.64
Enterprise Value to NOPAT (EV/NOPAT)	21.25	42.87	28.33	27.89	21.21	29.28	24.55	25.75	24.40	22.67
Enterprise Value to Operating Cash Flow (EV/OCF)	13.53	16.67	18.20	18.17	11.38	13.96	14.05	13.61	11.60	12.99
Enterprise Value to Free Cash Flow (EV/FCFF)	28.51	0.00	33.98	35.69	13.37	0.00	1,084.35	18.43	17.10	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.91	0.95	0.78	0.81	0.91	0.96	0.80	0.67	0.79	0.81
Long-Term Debt to Equity	0.91	0.95	0.78	0.81	0.91	0.95	0.79	0.66	0.78	0.75
Financial Leverage	0.92	0.80	0.67	0.68	0.81	0.86	0.71	0.70	0.76	0.71
Leverage Ratio	2.47	2.41	2.30	2.36	2.47	2.39	2.19	2.20	2.28	2.22
Compound Leverage Factor	2.33	2.19	2.26	2.17	2.33	2.27	2.11	2.02	2.16	2.18
Debt to Total Capital	47.51%	48.73%	43.89%	44.75%	47.73%	48.92%	44.32%	39.96%	44.19%	44.70%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.15%	0.48%	0.58%	0.53%	3.32%
Long-Term Debt to Total Capital	47.51%	48.73%	43.89%	44.75%	47.73%	48.77%	43.84%	39.37%	43.66%	41.38%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	52.49%	51.27%	56.11%	55.25%	52.27%	51.08%	55.68%	60.04%	55.81%	55.30%
Debt to EBITDA	2.51	3.96	2.53	2.65	3.54	3.29	2.87	2.69	2.37	2.34
Net Debt to EBITDA	2.50	3.89	2.16	2.22	2.67	3.26	2.80	2.67	2.35	2.30
Long-Term Debt to EBITDA	2.51	3.96	2.53	2.65	3.54	3.28	2.84	2.65	2.34	2.16
Debt to NOPAT	4.86	9.46	4.87	5.09	5.14	6.92	5.92	5.29	5.65	5.22
Net Debt to NOPAT	4.84	9.30	4.16	4.26	3.88	6.86	5.77	5.26	5.62	5.15
Long-Term Debt to NOPAT	4.86	9.46	4.87	5.09	5.14	6.90	5.85	5.22	5.59	4.84
Altman Z-Score	3.58	3.36	4.06	3.86	3.35	3.19	3.35	3.58	3.49	3.41
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.20	1.04	1.43	1.44	1.66	1.05	1.36	1.29	1.40	1.24
Quick Ratio	0.62	0.53	0.91	0.94	1.21	0.56	0.78	0.72	0.82	0.70
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	196	-71	193	175	387	-60	3.83	220	242	-165
Operating Cash Flow to CapEx	230.44%	255.43%	212.85%	170.39%	475.01%	353.72%	294.02%	382.46%	383.68%	369.74%
Free Cash Flow to Firm to Interest Expense	5.27	-1.95	6.68	3.68	9.97	-1.54	0.11	6.01	6.93	-6.16
Operating Cash Flow to Interest Expense	11.11	9.54	12.48	7.23	11.72	9.45	8.29	8.13	10.22	12.52
Operating Cash Flow Less CapEx to Interest Expense	6.29	5.81	6.62	2.99	9.25	6.78	5.47	6.01	7.55	9.13
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.50	1.51	1.46	1.32	1.35	1.37	1.44	1.45	1.40	1.44
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	9.66	10.26	11.23	10.96	11.32	11.28	11.48	11.73	11.96	12.44
Fixed Asset Turnover	5.30	5.62	5.83	5.78	6.19	5.64	5.36	5.18	4.95	4.69
Accounts Payable Turnover	8.90	7.95	8.18	8.80	9.57	9.07	9.76	11.34	11.75	12.48
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	37.78	35.58	32.52	33.29	32.23	32.36	31.79	31.13	30.51	29.34
Days Payable Outstanding (DPO)	41.02	45.90	44.63	41.48	38.14	40.22	37.39	32.19	31.07	29.24
Cash Conversion Cycle (CCC)	-3.24	-10.32	-12.12	-8.19	-5.91	-7.86	-5.60	-1.06	-0.56	0.10
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,681	2,614	2,407	2,369	2,319	2,462	2,228	2,062	2,125	2,197
Invested Capital Turnover	1.93	2.03	2.01	1.85	1.84	1.76	1.84	1.87	1.82	1.87
Increase / (Decrease) in Invested Capital	67	207	39	49	-143	235	165	-62	-72	357
Enterprise Value (EV)	5,582	5,822	6,568	6,263	5,174	5,121	4,156	4,048	4,136	4,360
Market Capitalization	4,311	4,560	5,604	5,306	4,227	3,922	3,180	3,221	3,184	3,370
Book Value per Share	$6.70	$6.40	$6.84	$6.68	$6.49	$5.97	$5.97	$5.97	$5.83	$5.86
Tangible Book Value per Share	$0.49	$0.08	$1.11	$0.81	$0.53	($0.15)	($0.39)	$0.21	($0.44)	($0.46)
Total Capital	2,686	2,637	2,572	2,554	2,627	2,473	2,260	2,083	2,168	2,248
Total Debt	1,276	1,285	1,129	1,143	1,254	1,210	1,002	832	958	1,005
Total Long-Term Debt	1,276	1,285	1,129	1,143	1,254	1,206	991	820	947	930
Net Debt	1,271	1,263	964	957	946	1,199	976	827	952	990
Capital Expenditures (CapEx)	179	137	170	202	96	104	101	78	93	91
Debt-free, Cash-free Net Working Capital (DFCFNWC)	103	6.03	75	40	27	18	129	120	141	157
Debt-free Net Working Capital (DFNWC)	108	29	241	226	334	30	154	125	148	171
Net Working Capital (NWC)	108	29	241	226	334	26	143	113	136	97
Net Nonoperating Expense (NNE)	15	12	3.44	18	92	10	12	7.10	5.72	3.13
Net Nonoperating Obligations (NNO)	1,271	1,263	964	957	946	1,199	970	812	915	954
Total Depreciation and Amortization (D&A)	159	152	142	137	141	144	144	147	141	132
Debt-free, Cash-free Net Working Capital to Revenue	2.01%	0.12%	1.57%	0.93%	0.61%	0.45%	3.26%	3.07%	3.60%	4.15%
Debt-free Net Working Capital to Revenue	2.11%	0.56%	5.00%	5.22%	7.61%	0.72%	3.90%	3.20%	3.76%	4.53%
Net Working Capital to Revenue	2.11%	0.56%	5.00%	5.22%	7.61%	0.63%	3.63%	2.89%	3.47%	2.56%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.18	$0.58	$1.08	$0.97	$0.72	$0.78	$0.74	$0.72	$0.79	$0.00
Adjusted Weighted Average Basic Shares Outstanding	211.02M	211.63M	211.90M	211.84M	211.78M	211.61M	211.02M	209.57M	208.51M	210.79M
Adjusted Diluted Earnings per Share	$1.17	$0.58	$1.07	$0.97	$0.72	$0.78	$0.74	$0.71	$0.78	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	212.14M	213.36M	213.23M	213.03M	212.35M	211.97M	211.63M	210.44M	210.35M	213.36M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	210.84M	210.57M	211.27M	211.54M	211.70M	211.58M	210.90M	210.61M	208.90M	212.30M
Normalized Net Operating Profit after Tax (NOPAT)	276	147	238	225	271	193	184	165	190	195
Normalized NOPAT Margin	5.41%	2.89%	4.95%	5.20%	6.18%	4.68%	4.67%	4.22%	4.84%	5.15%
Pre Tax Income Margin	6.45%	3.09%	6.22%	6.25%	4.57%	5.14%	4.99%	3.81%	6.35%	7.76%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	9.39	4.73	10.51	6.19	5.49	5.75	5.75	4.46	7.56	11.11
NOPAT to Interest Expense	7.08	3.71	8.02	4.71	6.29	4.50	4.74	4.30	4.86	7.17
EBIT Less CapEx to Interest Expense	4.56	0.99	4.65	1.94	3.02	3.07	2.93	2.33	4.90	7.72
NOPAT Less CapEx to Interest Expense	2.25	-0.03	2.15	0.47	3.82	1.83	1.92	2.17	2.19	3.79
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	81.83%	158.18%	81.66%	85.31%	109.82%	97.23%	95.58%	93.91%	80.03%	63.66%
Augmented Payout Ratio	90.98%	195.29%	96.80%	89.92%	110.33%	101.52%	97.16%	95.69%	157.15%	67.29%

This table displays calculated financial ratios and metrics derived from Flowers Foods' official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/28/2024	10/5/2024	7/13/2024	4/20/2024	12/30/2023	10/7/2023	7/15/2023	4/22/2023	12/31/2022	10/8/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.59%	-0.73%	-0.25%	2.76%	4.28%	3.55%	8.77%	6.86%	10.08%	12.68%
EBITDA Growth	12.95%	646.01%	6.83%	8.93%	-10.22%	-126.40%	18.15%	-11.52%	13.44%	5.53%
EBIT Growth	22.96%	252.15%	7.44%	8.30%	-22.15%	-206.69%	23.60%	-16.26%	19.89%	6.55%
NOPAT Growth	20.33%	264.94%	5.36%	4.73%	-20.68%	-200.36%	22.37%	-15.32%	19.90%	4.06%
Net Income Growth	20.87%	239.06%	5.03%	3.30%	-26.59%	-215.30%	18.78%	-17.38%	23.59%	4.31%
EPS Growth	17.65%	240.91%	6.67%	3.03%	-26.09%	-215.79%	20.00%	-17.50%	21.05%	5.56%
Operating Cash Flow Growth	41.57%	-11.26%	-10.83%	81.44%	32.70%	19.23%	18.89%	-53.32%	136.01%	17.33%
Free Cash Flow Firm Growth	87.88%	96.89%	151.88%	160.96%	-1,755.74%	78.07%	-612.20%	77.09%	220.39%	-196.65%
Invested Capital Growth	2.56%	2.94%	-2.66%	-3.04%	8.61%	9.67%	14.23%	14.04%	1.63%	116.29%
Revenue Q/Q Growth	-6.67%	-2.81%	-22.31%	39.66%	-5.86%	-2.34%	-19.97%	41.73%	-6.52%	2.58%
EBITDA Q/Q Growth	-23.08%	-3.34%	-11.85%	72.34%	471.82%	-118.91%	-10.11%	42.04%	9.35%	-15.38%
EBIT Q/Q Growth	-32.06%	-5.16%	-6.24%	103.52%	184.07%	-166.97%	-5.49%	46.30%	15.22%	-22.41%
NOPAT Q/Q Growth	-32.15%	-2.82%	-8.65%	99.78%	193.00%	-162.08%	-9.19%	51.30%	17.67%	-24.31%
Net Income Q/Q Growth	-33.64%	-2.96%	-8.32%	104.74%	176.35%	-173.29%	-9.83%	45.50%	19.91%	-24.50%
EPS Q/Q Growth	-35.48%	-3.13%	-5.88%	100.00%	177.27%	-173.33%	-9.09%	43.48%	21.05%	-24.00%
Operating Cash Flow Q/Q Growth	14.34%	80.09%	-39.83%	14.25%	-28.33%	80.98%	22.44%	-16.44%	-35.60%	80.47%
Free Cash Flow Firm Q/Q Growth	-140.94%	-105.89%	-10.21%	195.07%	38.17%	1.72%	-5.51%	-2,682.29%	100.82%	-3,091.34%
Invested Capital Q/Q Growth	-0.58%	0.24%	1.48%	1.41%	-0.21%	-5.21%	1.08%	13.59%	0.77%	-1.27%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	48.84%	49.75%	49.93%	49.44%	47.94%	48.51%	49.02%	47.81%	46.83%	46.85%
EBITDA Margin	8.84%	10.72%	10.78%	9.50%	7.70%	-1.95%	10.06%	8.96%	8.94%	7.64%
Operating Margin	5.52%	7.57%	7.77%	6.44%	4.42%	-4.95%	7.21%	6.11%	5.92%	4.79%
EBIT Margin	5.52%	7.58%	7.77%	6.44%	4.42%	-4.95%	7.22%	6.11%	5.92%	4.80%
Profit (Net Income) Margin	3.88%	5.46%	5.47%	4.63%	3.16%	-3.90%	5.19%	4.61%	4.49%	3.50%
Tax Burden Percent	75.78%	75.99%	74.06%	76.01%	77.43%	73.83%	75.58%	78.60%	76.00%	74.66%
Interest Burden Percent	92.75%	94.71%	94.97%	94.63%	92.34%	106.65%	95.20%	95.94%	99.76%	97.59%
Effective Tax Rate	24.22%	24.01%	25.94%	23.99%	22.57%	0.00%	24.42%	21.40%	24.00%	25.34%
Return on Invested Capital (ROIC)	8.07%	11.09%	10.83%	9.33%	6.94%	-6.98%	10.52%	9.18%	9.06%	9.63%
ROIC Less NNEP Spread (ROIC-NNEP)	7.80%	10.81%	10.56%	9.01%	6.67%	-7.45%	10.24%	8.91%	9.04%	9.36%
Return on Net Nonoperating Assets (RNNOA)	7.15%	9.85%	9.61%	8.09%	5.32%	-5.83%	7.95%	6.74%	6.09%	2.13%
Return on Equity (ROE)	15.22%	20.94%	20.44%	17.42%	12.25%	-12.81%	18.47%	15.92%	15.14%	11.76%
Cash Return on Invested Capital (CROIC)	7.39%	6.69%	7.92%	8.25%	-2.84%	-3.41%	-4.38%	-4.60%	8.10%	-60.72%
Operating Return on Assets (OROA)	8.26%	11.32%	11.50%	9.57%	6.68%	-7.37%	10.55%	8.80%	8.67%	6.78%
Return on Assets (ROA)	5.80%	8.14%	8.09%	6.88%	4.77%	-5.80%	7.59%	6.63%	6.57%	4.94%
Return on Common Equity (ROCE)	15.22%	20.94%	20.44%	17.42%	12.25%	-12.81%	18.47%	15.92%	15.14%	11.76%
Return on Equity Simple (ROE_SIMPLE)	0.00%	17.11%	9.31%	9.14%	0.00%	9.92%	15.21%	14.61%	0.00%	15.27%
Net Operating Profit after Tax (NOPAT)	46	69	71	77	39	-42	67	74	49	41
NOPAT Margin	4.18%	5.76%	5.76%	4.90%	3.42%	-3.46%	5.45%	4.80%	4.50%	3.57%
Net Nonoperating Expense Percent (NNEP)	0.27%	0.28%	0.27%	0.33%	0.27%	0.47%	0.28%	0.27%	0.01%	0.27%
Return On Investment Capital (ROIC_SIMPLE)	1.73%	-	-	-	1.47%	-	-	-	1.89%	-
Cost of Revenue to Revenue	51.16%	50.25%	50.07%	50.56%	52.06%	51.49%	50.98%	52.19%	53.17%	53.15%
SG&A Expenses to Revenue	39.96%	38.67%	38.48%	39.65%	39.67%	50.36%	38.75%	38.58%	37.86%	38.63%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	43.34%	42.18%	42.15%	42.99%	43.54%	53.46%	41.81%	41.69%	40.94%	42.06%
Earnings before Interest and Taxes (EBIT)	61	90	95	102	50	-59	89	94	64	56
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	98	128	132	150	87	-23	124	138	97	89
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.06	3.35	3.27	3.73	3.37	3.16	3.34	3.73	3.88	3.39
Price to Tangible Book Value (P/TBV)	41.51	50.68	71.04	107.09	280.70	136.75	41.83	52.92	23.98	22.35
Price to Revenue (P/Rev)	0.84	0.92	0.88	1.00	0.90	0.86	0.98	1.11	1.17	1.03
Price to Earnings (P/E)	17.37	19.60	35.12	40.84	36.95	31.88	21.98	25.54	24.54	22.22
Dividend Yield	4.64%	4.20%	4.34%	3.78%	4.21%	4.38%	3.84%	3.41%	3.28%	3.74%
Earnings Yield	5.76%	5.10%	2.85%	2.45%	2.71%	3.14%	4.55%	3.91%	4.08%	4.50%
Enterprise Value to Invested Capital (EV/IC)	2.08	2.23	2.17	2.42	2.23	2.13	2.25	2.46	2.73	2.44
Enterprise Value to Revenue (EV/Rev)	1.09	1.17	1.14	1.25	1.14	1.11	1.24	1.37	1.37	1.24
Enterprise Value to EBITDA (EV/EBITDA)	10.99	12.11	16.90	19.03	17.92	16.72	13.91	15.74	14.73	13.41
Enterprise Value to EBIT (EV/EBIT)	16.01	17.84	31.15	35.49	33.63	29.89	20.57	23.60	21.61	19.88
Enterprise Value to NOPAT (EV/NOPAT)	21.25	23.57	40.90	46.07	42.87	38.36	26.91	30.79	28.33	26.02
Enterprise Value to Operating Cash Flow (EV/OCF)	13.53	16.05	15.01	16.17	16.67	17.12	20.29	22.83	18.20	18.14
Enterprise Value to Free Cash Flow (EV/FCFF)	28.51	33.78	27.01	28.85	0.00	0.00	0.00	0.00	33.98	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.91	0.93	0.95	0.94	0.95	0.92	0.89	0.89	0.78	0.79
Long-Term Debt to Equity	0.91	0.93	0.95	0.94	0.95	0.92	0.89	0.89	0.78	0.79
Financial Leverage	0.92	0.91	0.91	0.90	0.80	0.78	0.78	0.76	0.67	0.23
Leverage Ratio	2.47	2.47	2.43	2.44	2.41	2.41	2.35	2.33	2.30	2.34
Compound Leverage Factor	2.29	2.34	2.31	2.30	2.23	2.57	2.23	2.24	2.29	2.29
Debt to Total Capital	47.51%	48.13%	48.67%	48.41%	48.73%	47.82%	47.03%	47.08%	43.89%	43.99%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	47.51%	48.13%	48.67%	48.41%	48.73%	47.82%	47.03%	47.08%	43.89%	43.99%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	52.49%	51.87%	51.33%	51.59%	51.27%	52.18%	52.97%	52.92%	56.11%	56.01%
Debt to EBITDA	2.51	2.63	3.80	3.83	3.96	3.77	2.93	3.04	2.53	2.60
Net Debt to EBITDA	2.50	2.60	3.78	3.79	3.89	3.72	2.90	2.98	2.16	2.20
Long-Term Debt to EBITDA	2.51	2.63	3.80	3.83	3.96	3.77	2.93	3.04	2.53	2.60
Debt to NOPAT	4.86	5.12	9.20	9.28	9.46	8.64	5.66	5.95	4.87	5.04
Net Debt to NOPAT	4.84	5.06	9.15	9.16	9.30	8.54	5.61	5.83	4.16	4.26
Long-Term Debt to NOPAT	4.86	5.12	9.20	9.28	9.46	8.64	5.66	5.95	4.87	5.04
Altman Z-Score	3.30	3.43	3.35	3.51	3.24	3.08	3.44	3.59	3.82	3.50
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.20	1.24	1.19	1.11	1.04	1.07	1.35	1.32	1.43	1.41
Quick Ratio	0.62	0.71	0.67	0.60	0.53	0.57	0.79	0.74	0.91	0.91
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-20	-8.48	144	160	-169	-273	-277	-263	10	-1,243
Operating Cash Flow to CapEx	212.63%	298.27%	155.09%	271.03%	249.29%	438.97%	205.14%	160.92%	182.60%	338.61%
Free Cash Flow to Firm to Interest Expense	-2.50	-0.98	16.03	14.18	-20.53	-31.88	-30.79	-24.26	1.52	-182.76
Operating Cash Flow to Interest Expense	15.96	13.12	7.05	9.30	11.21	15.02	7.88	5.35	10.38	15.84
Operating Cash Flow Less CapEx to Interest Expense	8.46	8.72	2.50	5.87	6.71	11.59	4.04	2.02	4.69	11.16
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.50	1.49	1.48	1.49	1.51	1.49	1.46	1.44	1.46	1.41
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	9.66	9.89	10.13	9.93	10.26	10.38	10.60	10.67	11.23	11.09
Fixed Asset Turnover	5.30	5.36	5.35	5.35	5.62	5.61	5.59	5.52	5.83	6.09
Accounts Payable Turnover	8.90	8.44	8.34	8.13	7.95	7.74	8.01	8.05	8.18	7.95
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	37.78	36.91	36.03	36.74	35.58	35.17	34.44	34.22	32.52	32.91
Days Payable Outstanding (DPO)	41.02	43.26	43.75	44.90	45.90	47.18	45.58	45.34	44.63	45.89
Cash Conversion Cycle (CCC)	-3.24	-6.36	-7.72	-8.16	-10.32	-12.00	-11.14	-11.13	-12.12	-12.98
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,681	2,697	2,690	2,651	2,614	2,620	2,764	2,734	2,407	2,389
Invested Capital Turnover	1.93	1.93	1.88	1.91	2.03	2.01	1.93	1.91	2.01	2.69
Increase / (Decrease) in Invested Capital	67	77	-73	-83	207	231	344	337	39	1,284
Enterprise Value (EV)	5,582	6,008	5,835	6,411	5,822	5,592	6,208	6,727	6,568	5,822
Market Capitalization	4,311	4,717	4,529	5,136	4,560	4,347	4,914	5,454	5,604	4,868
Book Value per Share	$6.70	$6.68	$6.56	$6.52	$6.40	$6.51	$6.94	$6.92	$6.84	$6.77
Tangible Book Value per Share	$0.49	$0.44	$0.30	$0.23	$0.08	$0.15	$0.55	$0.49	$1.11	$1.03
Total Capital	2,686	2,712	2,697	2,667	2,637	2,634	2,775	2,762	2,572	2,561
Total Debt	1,276	1,305	1,313	1,291	1,285	1,260	1,305	1,300	1,129	1,127
Total Long-Term Debt	1,276	1,305	1,313	1,291	1,285	1,260	1,305	1,300	1,129	1,127
Net Debt	1,271	1,290	1,306	1,275	1,263	1,245	1,294	1,273	964	954
Capital Expenditures (CapEx)	61	38	41	39	37	29	35	36	38	32
Debt-free, Cash-free Net Working Capital (DFCFNWC)	103	124	106	50	6.03	30	182	146	75	68
Debt-free Net Working Capital (DFNWC)	108	139	113	66	29	45	193	174	241	241
Net Working Capital (NWC)	108	139	113	66	29	45	193	174	241	241
Net Nonoperating Expense (NNE)	3.37	3.54	3.55	4.14	2.96	5.19	3.17	2.99	0.11	0.87
Net Nonoperating Obligations (NNO)	1,271	1,290	1,306	1,275	1,263	1,245	1,294	1,273	964	954
Total Depreciation and Amortization (D&A)	37	37	37	48	37	36	35	44	33	33
Debt-free, Cash-free Net Working Capital to Revenue	2.01%	2.42%	2.07%	0.98%	0.12%	0.60%	3.63%	2.98%	1.57%	1.45%
Debt-free Net Working Capital to Revenue	2.11%	2.71%	2.21%	1.29%	0.56%	0.89%	3.87%	3.54%	5.00%	5.12%
Net Working Capital to Revenue	2.11%	2.71%	2.21%	1.29%	0.56%	0.89%	3.87%	3.54%	5.00%	5.12%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.20	$0.31	$0.32	$0.35	$0.17	($0.22)	$0.30	$0.33	$0.24	$0.19
Adjusted Weighted Average Basic Shares Outstanding	211.02M	210.82M	211.36M	211.08M	211.63M	211.52M	212.03M	211.77M	211.90M	212.02M
Adjusted Diluted Earnings per Share	$0.20	$0.31	$0.32	$0.34	$0.17	($0.22)	$0.30	$0.33	$0.23	$0.19
Adjusted Weighted Average Diluted Shares Outstanding	212.14M	211.98M	212.32M	212.11M	213.36M	211.52M	213.01M	213.40M	213.23M	213.33M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	210.84M	210.60M	210.60M	211.14M	210.57M	211.12M	211.32M	211.85M	211.27M	211.13M
Normalized Net Operating Profit after Tax (NOPAT)	47	72	76	81	44	-41	69	77	49	46
Normalized NOPAT Margin	4.22%	6.04%	6.24%	5.11%	3.87%	-3.40%	5.60%	5.01%	4.50%	4.01%
Pre Tax Income Margin	5.12%	7.18%	7.38%	6.09%	4.08%	-5.28%	6.87%	5.86%	5.91%	4.69%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.52	10.39	10.61	8.99	6.08	-6.94	9.84	8.65	9.59	8.18
NOPAT to Interest Expense	5.70	7.89	7.85	6.83	4.71	-4.86	7.43	6.80	7.29	6.09
EBIT Less CapEx to Interest Expense	0.01	6.00	6.06	5.55	1.58	-10.36	6.00	5.33	3.91	3.50
NOPAT Less CapEx to Interest Expense	-1.81	3.49	3.31	3.40	0.21	-8.28	3.59	3.48	1.61	1.41
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	81.83%	83.51%	154.35%	156.84%	158.18%	141.69%	85.50%	88.45%	81.66%	84.18%
Augmented Payout Ratio	90.98%	99.14%	187.12%	191.59%	195.29%	164.35%	105.32%	105.08%	96.80%	99.96%

Frequently Asked Questions About Flowers Foods' Financials

When does Flowers Foods's fiscal year end?

According to the most recent income statement we have on file, Flowers Foods' financial year ends in December. Their financial year 2024 ended on December 28, 2024.

How has Flowers Foods' net income changed over the last 9 years?

Flowers Foods' net income appears to be on an upward trend, with a most recent value of $248.12 million in 2024, rising from $189.19 million in 2015. The previous period was $123.42 million in 2023. View Flowers Foods' forecast to see where analysts expect Flowers Foods to go next.

What is Flowers Foods's operating income?

Flowers Foods's total operating income in 2024 was $348.29 million, based on the following breakdown:

Total Gross Profit: $2.53 billion
Total Operating Expenses: $2.18 billion

How has Flowers Foods revenue changed over the last 9 years?

Over the last 9 years, Flowers Foods' total revenue changed from $3.78 billion in 2015 to $5.10 billion in 2024, a change of 35.1%.

How much debt does Flowers Foods have?

Flowers Foods' total liabilities were at $1.99 billion at the end of 2024, a 4.1% decrease from 2023, and a 24.3% increase since 2015.

How much cash does Flowers Foods have?

In the past 9 years, Flowers Foods' cash and equivalents has ranged from $5.01 million in 2024 to $307.48 million in 2020, and is currently $5.01 million as of their latest financial filing in 2024.

How has Flowers Foods' book value per share changed over the last 9 years?

Over the last 9 years, Flowers Foods' book value per share changed from 5.86 in 2015 to 6.70 in 2024, a change of 14.3%.

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This page (NYSE:FLO) was last updated on 5/29/2025 by MarketBeat.com Staff

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Flowers Foods (FLO) Financials

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Flowers Foods (FLO) Financials

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