Flowers Foods (FLO) Financials

$18.69 +0.21 (+1.14%)

As of 04/14/2025 03:58 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	189	164	150	157	165	152	206	228	123	248
Consolidated Net Income / (Loss)	189	164	150	157	165	152	206	228	123	248
Net Income / (Loss) Continuing Operations	189	164	150	157	165	152	206	228	123	248
Total Pre-Tax Income	293	250	149	197	212	201	271	299	157	329
Total Operating Income	298	258	156	212	225	321	295	303	173	348
Total Gross Profit	1,815	1,900	1,911	1,885	1,968	2,192	2,156	2,304	2,459	2,526
Total Revenue	3,779	3,927	3,921	3,952	4,124	4,388	4,331	4,806	5,091	5,103
Operating Revenue	3,779	3,927	3,921	3,952	4,124	4,388	4,331	4,806	5,091	5,103
Total Cost of Revenue	1,963	2,027	2,009	2,067	2,156	2,196	2,175	2,502	2,632	2,577
Operating Cost of Revenue	1,963	2,027	2,009	2,067	2,156	2,196	2,175	2,502	2,632	2,577
Total Operating Expenses	1,517	1,642	1,755	1,673	1,743	1,870	1,861	2,001	2,286	2,178
Selling, General & Admin Expense	1,382	1,469	1,510	1,507	1,575	1,693	1,720	1,851	2,120	2,001
Depreciation Expense	132	141	147	144	144	141	137	142	152	159
Impairment Charge	3.77	25	-	6.00	-	0.00	0.00	7.83	7.30	10
Restructuring Charge	-	-	104	9.77	24	35	0.00	0.00	7.10	7.40
Other Special Charges / (Income)	-	6.65	-24	3.21	-0.04	0.11	0.94	0.24	0.00	0.00
Total Other Income / (Expense), net	-4.85	-8.72	-7.06	-15	-13	-121	-24	-4.50	-16	-19
Interest Expense	27	35	37	36	39	39	48	29	37	37
Interest & Investment Income	22	21	23	28	28	27	24	24	21	18
Other Income / (Expense), net	-	5.64	6.56	-7.25	-2.25	-109	0.00	0.77	0.27	0.27
Income Tax Expense	104	86	-0.83	40	48	48	65	70	34	81
Basic Earnings per Share	$0.90	$0.79	$0.72	$0.74	$0.78	$0.72	$0.97	$1.08	$0.58	$1.18
Weighted Average Basic Shares Outstanding	210.79M	208.51M	209.57M	211.02M	211.61M	211.78M	211.84M	211.90M	211.63M	211.02M
Diluted Earnings per Share	$0.89	$0.78	$0.71	$0.74	$0.78	$0.72	$0.97	$1.07	$0.58	$1.17
Weighted Average Diluted Shares Outstanding	213.36M	210.35M	210.44M	211.63M	211.97M	212.35M	213.03M	213.23M	213.36M	212.14M
Weighted Average Basic & Diluted Shares Outstanding	210.20M	207.30M	208.50M	212.40M	211.58M	211.70M	211.54M	211.27M	210.57M	210.84M
Cash Dividends to Common per Share	$0.57	$0.63	$0.67	$0.71	$0.75	$0.79	$0.83	$0.87	$0.91	$0.95

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

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

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

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

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

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

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

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

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

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

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.

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 4/15/2025 by MarketBeat.com Staff

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Flowers Foods (FLO) Financials

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Flowers Foods (FLO) Financials

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