MARKETS / NYSE / FLO

NYSE · FOOD AND KINDRED PRODUCTS · LARGE CAP

Flowers Foods Inc. FLO

18 fiscal years on record · USD · FY2025 reported · SEC filings only

14 YEARS OF DIVIDEND GROWTH

Revenue

$5.3B

▲ 3.0% YoY

Net income

$83.8M

▼ 66.2% YoY

Free cash flow

$319.1M

▲ 13.7% YoY

In brief

What this company does

Flowers Foods, Inc. produces and markets packaged bakery foods, including breads, buns, rolls, snack items such as bars, cakes, cookies and crackers, bagels, English muffins, tortillas, and baking mixes, sold under brand names including Nature's Own, Dave's Killer Bread, Canyon Bakehouse, Simple Mills, Wonder, and Tastykake. In Fiscal 2025, its top 10 customers accounted for 57.7% of sales, and its largest customer, Walmart/Sam's Club, represented 21.5% of the company's sales. As of January 3, 2026, Flowers and its subsidiaries had approximately 10,300 employees located throughout the U.S., along with approximately 5,500 full-time leased and temporary employees. As of January 3, 2026, the company's distribution network comprised 4,274 independent distributor-owned and operated territories, 133 territories classified as available for sale, and 1,365 other company-operated territories, for a total of 5,772 territories. Following the acquisition of Simple Mills, the company identified two operating segments, legacy Flowers Foods and Simple Mills, and aggregates them into one reportable segment because Simple Mills shares similar economic characteristics with legacy Flowers Foods. Flowers Foods, Inc. was founded in 1919 as a Georgia corporation and is headquartered in Thomasville, Georgia.

Written from the business description in FLOWERS FOODS, INC's annual report to the U.S. Securities and Exchange Commission, filed 25 February 2026. Every sentence was checked against that document before publication.

Growth

USD 5.3B

Revenue, FY2025 · full 18-year series below

Revenue $B Net income $B

FY2025 · Revenue 5.3 · Net income 0.1

Compound annual growth

Revenue

+3.0%

+3.7%

+3.4%

+4.9%

Net income

−28.4%

−11.3%

−7.8%

−3.2%

EPS, diluted

−28.0%

−11.1%

−7.7%

Dividend / share

+4.1%

+4.5%

+5.6%

Returned to shareholders

−1.0%

+5.0%

+6.0%

+5.1%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +3.7% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

2 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 3.3% · Net 1.6%

ROE

FY2025 · ROE 6.2%

Gross margin48.9%

Operating margin3.3%

Net margin1.6%

Return on assets2.2%

EBITDAUSD 341.4M

Each USD of equity produced 6 cents of profit this year.

Cash & shareholders

USD 214.8M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 319.1

Net buybacks $M Dividends $M

FY2025 · Dividends 209.3 · Net buybacks 5.5

Dividends paidUSD 209.3M

Net buybacksUSD 5.5M

Share of profit256.3%

Consecutive raises14 years (since the 2011 share-count change)

USD 209.3M in dividends and USD 5.5M in buybacks — 256% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 4.2B

EquityUSD 1.3B

CashUSD 12.1M

Gross debtUSD 1.8B

Net debtUSD 1.7B

Current ratio0.75×

Net debt stands at 134% of equity.

The 18-year record

18 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Revenue $B	5.3	5.1	5.1	4.8	4.3	4.4	4.1	4.0	3.9	3.9	3.8	3.7	3.7	3.0	2.8	2.6	2.6	2.4
Operating income $B	0.2	0.3	0.2	0.3	0.3	0.3	0.2	0.2	0.2	0.3	0.3	0.3	0.3	0.2	0.2	0.2	0.2	0.2
EBITDA $B	0.3	0.5	0.3	0.4	0.4	0.5	0.4	0.4	0.3	0.4	0.4	0.4	0.5	0.3	0.3	0.3	0.3	0.3
Income tax $B	0.0	0.1	0.0	0.1	0.1	0.0	0.0	0.0	−0.0	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1
Net income $B	0.1	0.2	0.1	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.1	0.1	0.1	0.1	0.1
Free cash flow $B	0.3	0.3	0.2	0.2	0.2	0.4	0.3	0.2	0.2	0.3	0.2	0.2	0.2	0.1	0.1	0.2	0.2	0.0
EPS, diluted $	0.40	1.17	0.58	1.07	0.97	0.72	0.78	0.74	0.71	0.78	0.89	0.82	1.09	0.66	0.60	0.99	0.94	1.28
Dividend / sh $	0.98	0.95	0.91	0.87	0.83	0.79	0.75	0.71	0.67	0.62	0.57	0.48	0.44	0.42	0.39	0.52	0.45	0.57
Payout %	250	82	158	82	85	110	97	96	94	80	64	58	40	64	64	52	48	45
ROE %	6.2	18.0	8.8	16.0	14.8	11.6	13.0	12.5	12.2	13.4	16.0	16.0	23.9	15.9	15.5	18.1	18.2	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 70 reconciliationsAUDITED

Reconciled in 18 of 19 fiscal years. 13 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityFood and Kindred Products

Listed onNYSE

Incorporated inGeorgia

Fiscal year endsJanuary 2

Data on record since2008