Flowers Foods, Inc. (FLO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+276.9%

$25.08

vs $6.66 price

Levered DCF

$40.45

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.87

Grey zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	26.97×	17.35×	38.15×	26.61×	28.03×	31.43×	27.87×	24.63×
P/B	1.76×	3.06×	3.5×	4.2×	4.11×	3.49×	3.64×	3.11×
P/S	0.44×	0.84×	0.93×	1.26×	1.34×	1.09×	1.12×	0.99×
EV / EBITDA	12.14×	10.78×	17.56×	15.11×	15.56×	15.25×	14.86×	12.99×
Gross margin	48.9%	49.5%	48.3%	47.9%	49.8%	50.0%	47.7%	47.7%
Operating margin	3.3%	6.8%	3.4%	6.3%	6.8%	7.3%	5.5%	5.4%
Net margin	1.6%	4.9%	2.4%	4.8%	4.8%	3.5%	4.0%	4.0%
Current ratio	0.75×	1.2×	1.04×	1.43×	1.44×	1.66×	1.05×	1.36×
Debt / equity	1.6×	0.96×	1×	0.83×	0.86×	0.96×	1.02×	0.8×
Interest coverage	2.27×	9.38×	4.72×	10.48×	9.35×	8.29×	5.8×	5.95×
Dividend yield	9.1%	4.7%	4.1%	3.1%	3.0%	3.5%	3.5%	3.8%
Payout ratio	249.7%	81.8%	158.2%	81.7%	85.3%	109.8%	97.2%	95.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	6.4%	17.6%	9.1%	15.8%	14.6%	11.1%	13.0%	12.5%
Return on invested capital	3.4%	9.0%	4.8%	8.2%	8.0%	8.4%	6.4%	6.9%
Return on assets	2.0%	7.3%	3.6%	6.9%	6.3%	4.6%	5.2%	5.5%
Free cash flow yield	13.9%	6.5%	4.7%	3.2%	2.3%	7.4%	5.7%	5.0%
Earnings yield	3.7%	5.8%	2.6%	3.8%	3.6%	3.2%	3.6%	4.0%
Enterprise value	$4.4B	$5.7B	$6.1B	$7.1B	$6.8B	$5.8B	$5.9B	$4.9B
Net debt / EBITDA	5.77×	2.58×	3.85×	2.19×	2.33×	2.67×	3.22×	2.62×
Cash conversion cycle (days)	24	25	18	12	16	20	20	17