Floor & Decor Reports Fiscal 2025 Fourth Quarter and Full-Year Results
Floor & Decor Holdings, Inc. (NYSE: FND) (“Floor & Decor” or the “Company”) announced its financial results for the fourth quarter and full fiscal year ending December 25, 2025. The results reflect the Company’s continued focus on strategic growth, disciplined execution, and operational resilience.
CEO Statement
Brad Paulsen, Chief Executive Officer, commented, “We are pleased to report fiscal 2025 fourth quarter diluted earnings per share of $0.36, consistent with the midpoint of guidance provided on our third quarter call. For the full year, diluted EPS was $1.92, compared to $1.90 in the prior year. I’m incredibly proud of our teams’ accomplishments in 2025. Despite softness in comparable store sales driven by the housing market, we expanded market share, managed tariff impacts, improved gross margins, opened 20 new warehouse stores, and delivered year-over-year earnings growth. This reflects the strength of our business model and our commitment to disciplined execution and strategic investment in the future.”
Fourth Quarter Fiscal 2025 Highlights
For the quarter ended December 25, 2025, Floor & Decor reported net sales of $1,129.7 million, a 2.0% increase compared to $1,107.4 million in the fourth quarter of 2024. Comparable store sales decreased 4.8%, reflecting ongoing challenges in the housing market.
The Company opened eight new warehouse stores during the quarter, bringing the total to 270 warehouse stores, along with five design studios and five distribution centers.
Operating income for the quarter was $51.9 million, down 12.3% from $59.2 million in the fourth quarter of 2024, and operating margin decreased 80 basis points to 4.6%. Net income was $39.3 million, a decrease of 17.2% from $47.5 million in the prior-year period. Diluted EPS for the quarter was $0.36, down 18.2% from $0.44 in Q4 2024. Adjusted EBITDA, a non-GAAP financial measure, was $119.4 million, slightly lower than $119.8 million in the fourth quarter of the prior year.
Full-Year Fiscal 2025 Performance
For the full fiscal year, net sales reached $4,684.1 million, representing a 5.1% increase over $4,455.8 million in 2024. Comparable store sales declined 1.8% year-over-year.
During fiscal 2025, Floor & Decor opened 20 new warehouse stores, closed one, and opened a new distribution center to support growth and operational efficiency. Operating income for the year was $270.1 million, up 5.4% from $256.2 million in fiscal 2024, while operating margin remained flat at 5.8%. Net income increased 1.3% to $208.6 million from $205.9 million in the prior year. Diluted EPS rose slightly to $1.92 from $1.90. Adjusted EBITDA increased 5.0% to $538.2 million from $512.5 million in 2024.
Financial Metrics and Store Growth
Floor & Decor’s fourth-quarter results show continued resilience despite soft comparable store sales. The increase in net sales, the addition of new warehouse stores, and the growth in adjusted EBITDA highlight the effectiveness of the Company’s strategy. The Company ended fiscal 2025 with 270 warehouse stores, five design studios, and five distribution centers.
The Company’s growth in new store openings demonstrates a focus on expanding market presence and improving customer accessibility. The operating margin remained stable for the full year, reflecting a balance between revenue growth and effective cost management.
Fiscal 2026 Guidance
Looking ahead, Floor & Decor expects fiscal 2026 to include 53 weeks of operations, which will slightly impact year-over-year comparisons. The Company provides the following guidance for fiscal 2026:
- Net sales between $4,880 million and $5,030 million, with the 53rd week expected to contribute approximately $65 million.
- Comparable store sales are projected between (2.0)% and 1.0%.
- Diluted EPS is anticipated between $1.98 and $2.18, including an estimated $0.08 contribution from the 53rd week.
- Adjusted EBITDA is projected between $560 million and $590 million, with approximately $11 million contribution from the 53rd week.
- Depreciation and amortization expense of roughly $245 million.
- Net interest expense of approximately $5 million.
- An effective tax rate of between 21.5% and 22.0% is expected.
- Diluted weighted average shares outstanding are projected at approximately 109 million shares.
- Plans to open 20 new warehouse stores.
- Capital expenditures are expected to range from $250 million to $300 million.
These projections reflect the Company’s ongoing commitment to disciplined growth, operational efficiency, and strategic investments that support long-term profitability.
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