Flowers Foods, Inc. (FLO) Balance Sheet
FLO balance sheet, 2025
December 31, 2025 · U.S. dollars$4.18B assets = $2.88B liabilities + $1.30B equity
Both columns are drawn to the same scale: what FLO owns equals what it owes plus shareholders’ equity. Hover a block for its value.
FLO financial health
Descriptive bands, not a rating. Fiscal 2025.
FLO balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.76B2016 | $4.18B2025 | +4.7%/yr | |
| Total liabilities | $1.55B2016 | $2.88B2025 | +7.1%/yr | |
| Shareholders’ equity | $1.21B2016 | $1.30B2025 | +0.8%/yr | |
| Cash & short-term investments | $6.4M2016 | $12.1M2025 | +7.3%/yr | |
| Total debt | $978.1M2016 | $2.08B2025 | +8.8%/yr | |
| Net cash (debt) | −$971.7M2016 | −$2.07B2025 | −$1.1B | |
| Working capital | $126.6M2016 | −$247.1M2025 | −$373.7M | |
| Book value per share | $5.752016 | $6.152025 | +0.7%/yr | |
| Current ratio | 1.382016 | 0.752025 | −0.64 | |
| Debt / equity | 0.812016 | 1.602025 | +0.79 | |
| Shares outstanding | 210.4M2016 | 212.1M2025 | +0.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FLO assets
FLO liabilities and equity
FLO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
FLO balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $12.1M | $5.0M | $22.5M | $165.1M | $185.9M | $307.5M | $11.0M | $25.3M | $5.1M | $6.4M |
| Cash & equivalents | $12.1M | $5.0M | $22.5M | $165.1M | $185.9M | $307.5M | $11.0M | $25.3M | $5.1M | $6.4M |
| Short-term investments | — | — | — | — | — | — | — | $501,000 | $259,000 | $3.0M |
| Receivables | $378.3M | $347.5M | $345.6M | $349.5M | $318.2M | $302.2M | $299.5M | $291.4M | $290.2M | $272.8M |
| Inventory | $299.2M | $262.7M | $270.9M | $242.3M | $203.5M | $193.3M | $194.5M | $187.7M | $172.4M | $170.4M |
| Other current assets | $39.5M | $41.1M | $48.7M | $48.0M | $38.6M | $35.2M | $48.8M | $13.0M | $15.5M | $6.1M |
| Total current assets | $729.1M | $656.4M | $687.7M | $804.9M | $746.1M | $838.2M | $553.9M | $517.4M | $483.2M | $455.8M |
| Property, plant & equipment (net) | $1.27B | $1.28B | $1.24B | $1.12B | $1.09B | $1.03B | $1.12B | $743.8M | $732.0M | $781.0M |
| Goodwill & intangible assets | $2.03B | $1.31B | $1.34B | $1.21B | $1.24B | $1.26B | $1.30B | $1.34B | $1.21B | $1.30B |
| Long-term investments | $3.7M | $3.8M | $7.9M | $136.9M | $154.3M | $176.4M | $198.6M | $204.1M | $187.7M | $154.9M |
| Other non-current assets | $144.8M | $150.9M | $155.9M | $37.0M | $21.0M | $14.7M | $12.6M | $39.9M | $49.5M | $67.8M |
| Total assets | $4.18B | $3.40B | $3.43B | $3.31B | $3.25B | $3.32B | $3.18B | $2.85B | $2.66B | $2.76B |
| Liabilities | ||||||||||
| Accounts payable | $312.7M | $260.7M | $318.6M | $343.4M | $268.5M | $225.9M | $233.0M | $242.1M | $181.4M | $173.1M |
| Short-term debt | $477.0M | $83.0M | $65.8M | $63.7M | $65.1M | $68.8M | $78.5M | $21.4M | $17.8M | $31.4M |
| Deferred revenue | $2.3M | $2.4M | $3.2M | $3.9M | $4.0M | $4.8M | $5.3M | $5.5M | $172.4M | $122.2M |
| Total current liabilities | $976.2M | $548.6M | $659.2M | $564.4M | $519.9M | $504.1M | $528.1M | $389.4M | $381.9M | $329.1M |
| Long-term debt | $1.36B | $1.02B | $1.05B | $891.8M | $890.6M | $960.1M | $862.8M | $990.6M | $820.1M | $946.7M |
| Lease obligations | $325.1M | $323.0M | $284.5M | $282.9M | $300.5M | $345.8M | $404.5M | — | — | — |
| Other long-term liabilities | $548.7M | $420.1M | $367.9M | $413.4M | $431.5M | $485.8M | $523.4M | $207.2M | $207.1M | $275.2M |
| Total liabilities | $2.88B | $1.99B | $2.08B | $1.87B | $1.84B | $1.95B | $1.91B | $1.59B | $1.41B | $1.55B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $199,000 | $199,000 | $199,000 | $199,000 | $199,000 | $199,000 | $199,000 | $199,000 | $199,000 | $199,000 |
| Retained earnings (deficit) | $852.1M | $977.6M | $932.5M | $1.00B | $962.4M | $932.1M | $947.0M | $945.4M | $919.7M | $910.5M |
| Treasury stock | — | — | — | −$252.6M | −$232.3M | −$225.4M | −$226.3M | −$231.6M | −$235.5M | −$261.8M |
| Accumulated other comprehensive income | −$1.1M | $6.8M | $621,000 | $1.5M | $2.6M | $6.4M | −$106.0M | −$109.2M | −$84.6M | −$83.3M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $1.30B | $1.41B | $1.35B | $1.44B | $1.41B | $1.37B | $1.26B | $1.26B | $1.25B | $1.21B |
| Key figures | ||||||||||
| Total debt | $2.08B | $1.36B | $1.35B | $1.19B | $1.21B | $1.32B | $1.28B | $1.01B | $837.9M | $978.1M |
| Net cash (debt) | −$2.07B | −$1.35B | −$1.33B | −$1.03B | −$1.02B | −$1.02B | −$1.27B | −$986.8M | −$832.8M | −$971.7M |
| Working capital | −$247.1M | $107.8M | $28.6M | $240.5M | $226.2M | $334.1M | $25.8M | $127.9M | $101.4M | $126.6M |
| Tangible book value | −$729.0M | $103.8M | $16.2M | $233.7M | $170.6M | $112.8M | −$32.0M | −$82.0M | $43.5M | −$91.5M |
| Book value per share | $6.15 | $6.65 | $6.34 | $6.77 | $6.62 | $6.47 | $5.96 | $5.95 | $5.94 | $5.75 |
| Shares outstanding | 212.1M | 212.1M | 213.4M | 213.2M | 213.0M | 212.3M | 212.0M | 211.6M | 210.4M | 210.4M |
| Current ratio | 0.75 | 1.20 | 1.04 | 1.43 | 1.44 | 1.66 | 1.05 | 1.33 | 1.27 | 1.38 |
| Quick ratio | 0.40 | 0.64 | 0.56 | 0.91 | 0.97 | 1.21 | 0.59 | 0.81 | 0.77 | 0.85 |
| Debt / equity | 1.60 | 0.96 | 1.00 | 0.83 | 0.86 | 0.96 | 1.02 | 0.80 | 0.67 | 0.81 |
| Equity / assets | 31.2% | 41.5% | 39.4% | 43.6% | 43.4% | 41.3% | 39.8% | 44.2% | 47.0% | 43.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $52.8M | $11.5M | $12.1M | $16.7M | $11.0M | $7.3M | $5.0M | $15.0M | $6.9M | $15.8M | $22.5M | $14.6M |
| Cash & equivalents | $52.8M | $11.5M | $12.1M | $16.7M | $11.0M | $7.3M | $5.0M | $15.0M | $6.9M | $15.8M | $22.5M | $14.6M |
| Receivables | $385.0M | $401.2M | $378.3M | $396.0M | $391.7M | $374.1M | $347.5M | $399.1M | $400.4M | $370.3M | $345.6M | $377.1M |
| Inventory | $207.6M | $301.0M | $299.2M | $299.4M | $304.3M | $299.1M | $262.7M | $258.9M | $259.8M | $264.6M | $270.9M | $266.1M |
| Other current assets | $141.1M | $47.8M | $39.5M | $39.7M | $33.6M | $34.8M | $41.1M | $34.7M | $35.7M | $37.8M | $48.7M | $56.7M |
| Total current assets | $786.3M | $761.5M | $729.1M | $751.8M | $740.7M | $715.3M | $656.4M | $707.7M | $702.8M | $688.4M | $687.7M | $714.6M |
| Property, plant & equipment (net) | $2.97B | $1.25B | $1.27B | $1.27B | $1.27B | $1.27B | $1.28B | $1.26B | $1.25B | $1.25B | $1.24B | $1.22B |
| Goodwill & intangible assets | $1.53B | $2.02B | $2.03B | $2.18B | $2.19B | $2.19B | $1.31B | $1.31B | $1.32B | $1.33B | $1.34B | $1.34B |
| Long-term investments | $3.6M | $3.6M | $3.7M | $3.7M | $3.7M | $3.7M | $3.8M | $3.9M | $3.9M | $3.9M | $7.9M | $13.3M |
| Other non-current assets | $0 | $146.0M | $144.8M | $147.7M | $148.0M | $145.3M | $150.9M | $148.2M | $149.6M | $155.3M | $155.9M | $139.0M |
| Total assets | $4.19B | $4.18B | $4.18B | $4.35B | $4.34B | $4.33B | $3.40B | $3.43B | $3.43B | $3.43B | $3.43B | $3.43B |
| Liabilities | ||||||||||||
| Accounts payable | $330.7M | $330.0M | $312.7M | $319.0M | $328.4M | $329.8M | $260.7M | $286.9M | $298.9M | $303.6M | $318.6M | $328.6M |
| Short-term debt | $479.5M | $473.4M | $477.0M | $482.6M | $84.1M | $81.8M | $83.0M | $76.5M | $75.8M | $65.2M | $65.8M | $61.0M |
| Deferred revenue | — | $2.3M | $2.3M | $2.2M | $2.1M | $2.2M | $2.4M | $2.6M | $2.7M | $2.9M | $3.2M | $3.3M |
| Total current liabilities | $1.02B | $988.2M | $976.2M | $957.6M | $589.2M | $568.7M | $548.6M | $569.1M | $589.5M | $622.4M | $659.2M | $669.9M |
| Long-term debt | $1.29B | $1.32B | $1.36B | $1.38B | $1.75B | $1.79B | $1.02B | $1.05B | $1.07B | $1.04B | $1.05B | $1.04B |
| Lease obligations | $317.1M | $318.9M | $325.1M | $337.2M | $328.3M | $333.0M | $323.0M | $315.8M | $304.1M | $305.2M | $284.5M | $271.6M |
| Other long-term liabilities | $557.8M | $566.0M | $548.7M | $591.2M | $578.3M | $552.0M | $420.1M | $400.2M | $385.3M | $387.3M | $367.9M | $352.3M |
| Total liabilities | $2.86B | $2.88B | $2.88B | $2.93B | $2.92B | $2.91B | $1.99B | $2.02B | $2.04B | $2.05B | $2.08B | $2.06B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $199,000 | $199,000 | $199,000 | $199,000 | $199,000 | $199,000 | $199,000 | $199,000 | $199,000 | $199,000 | $199,000 | $199,000 |
| Retained earnings (deficit) | $853.8M | $839.7M | $852.1M | $971.4M | $984.1M | $978.2M | $977.6M | $985.0M | $970.5M | $954.4M | $932.5M | $945.3M |
| Accumulated other comprehensive income | $1.7M | $1.7M | −$1.1M | $3.1M | $4.2M | $5.2M | $6.8M | $2.2M | $943,000 | $532,000 | $621,000 | $1.3M |
| Total shareholders' equity | $1.32B | $1.30B | $1.30B | $1.42B | $1.43B | $1.42B | $1.41B | $1.41B | $1.38B | $1.38B | $1.35B | $1.37B |
| Key figures | ||||||||||||
| Total debt | $2.01B | $2.05B | $2.08B | $2.13B | $2.09B | $2.13B | $1.36B | $1.38B | $1.39B | $1.36B | $1.35B | $1.32B |
| Net cash (debt) | −$1.96B | −$2.04B | −$2.07B | −$2.11B | −$2.08B | −$2.12B | −$1.35B | −$1.37B | −$1.38B | −$1.34B | −$1.33B | −$1.31B |
| Working capital | −$231.9M | −$226.7M | −$247.1M | −$205.7M | $151.4M | $146.6M | $107.8M | $138.7M | $113.3M | $66.0M | $28.6M | $44.7M |
| Tangible book value | −$206.1M | −$718.3M | −$729.0M | −$756.8M | −$759.3M | −$774.3M | $103.8M | $93.1M | $63.7M | $48.0M | $16.2M | $31.8M |
| Book value per share | $6.23 | $6.13 | $6.17 | $6.70 | $6.73 | $6.67 | $6.65 | $6.64 | $6.52 | $6.49 | $6.37 | $6.50 |
| Shares outstanding | 212.5M | 212.6M | 211.4M | 212.1M | 212.0M | 212.1M | 212.2M | 212.0M | 212.3M | 212.1M | 212.3M | 211.5M |
| Current ratio | 0.77 | 0.77 | 0.75 | 0.79 | 1.26 | 1.26 | 1.20 | 1.24 | 1.19 | 1.11 | 1.04 | 1.07 |
| Quick ratio | 0.43 | 0.42 | 0.40 | 0.43 | 0.68 | 0.67 | 0.64 | 0.73 | 0.69 | 0.62 | 0.56 | 0.58 |
| Debt / equity | 1.52 | 1.57 | 1.60 | 1.50 | 1.46 | 1.51 | 0.96 | 0.98 | 1.00 | 0.99 | 1.00 | 0.96 |
| Equity / assets | 31.6% | 31.2% | 31.2% | 32.7% | 32.9% | 32.7% | 41.5% | 41.0% | 40.4% | 40.1% | 39.4% | 40.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 25, 2026); data from EODHD.
FLO financial position
At the end of fiscal 2025 (December 31, 2025), Flowers Foods had total assets of $4.2 billion (up 23.0% from a year earlier), total liabilities of $2.9 billion and shareholders' equity of $1.3 billion. It held $12.1 million in cash and short-term investments against $2.1 billion of debt, net debt of $2.1 billion. Its current ratio was 0.75. In the latest quarter (ended June 30, 2026) total assets were $4.2 billion and equity $1.3 billion.
Related: FLO income statement, FLO cash flow statement, FLO key metrics. See the FLO stock overview for the latest quote and news.
FLO balance sheet FAQ
What are Flowers Foods's total assets?
Flowers Foods reported total assets of $4.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $3.4 billion a year earlier.
How much debt does Flowers Foods have?
Flowers Foods had $2.1 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.60.
How much cash does Flowers Foods have?
Flowers Foods held $12.1 million in cash and short-term investments at the end of fiscal 2025; with $2.1 billion of debt that is net debt of $2.1 billion.
What is Flowers Foods's book value?
Flowers Foods's shareholders' equity (book value) was $1.3 billion at the end of fiscal 2025, or $6.15 per share.
What is Flowers Foods's current ratio?
Flowers Foods had current assets of $729.1 million and current liabilities of $976.2 million, a current ratio of 0.75 (current liabilities exceed current assets).
How much goodwill does Flowers Foods have?
Flowers Foods carried $2.0 billion of goodwill and intangible assets, 48.6% of total assets, at the end of fiscal 2025.