Five Below Financials
This page shows Five Below (FIVE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Cash conversion became the dominant FY2026 story as growth required far less reinvestment than in the prior two years.
The key shift was free cash flow jumping to$412M from$107M , not just because sales were higher but because operating cash flow improved while capital spending fell sharply. With cash conversion rising from2.8% to8.6% of revenue, FY2026 looks like a year when the expansion model turned meaningfully less cash-hungry.
Margin recovery was real, but it was not a straight line of scale benefits: over FY2024-FY2026, revenue kept rising while SG&A consumed enough of the gross profit gain to keep operating profitability below its earlier peak. FY2026’s operating margin improved to
Liquidity strengthened alongside growth, with cash climbing to
Financial Health Signals
Scored against operating companies for FY2026. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Five Below's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Five Below has an operating margin of 9.6%, meaning the company retains $10 of operating profit per $100 of revenue. This strong profitability earns a score of 72/100, reflecting efficient cost management and pricing power. This is up from 8.3% the prior year.
Five Below's revenue surged 22.9% year-over-year to $4.8B, reflecting rapid business expansion. This strong growth earns a score of 77/100.
Five Below has a moderate D/E ratio of 1.19. This balance of debt and equity financing earns a leverage score of 43/100.
Five Below's current ratio of 2.10 indicates adequate short-term liquidity, earning a score of 60/100. The company can meet its near-term obligations, though with limited headroom.
Five Below has a free cash flow margin of 8.6%, earning a moderate score of 52/100. The company generates positive cash flow after capital investments, but with room for improvement.
Five Below earns a strong 15.5% return on equity (ROE), meaning it generates $16 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 75/100. This is up from 13.7% the prior year.
Five Below scores 4.59, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($11.5B) relative to total liabilities ($2.7B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Five Below passes 7 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Five Below generates $1.64 in operating cash flow ($586.4M OCF vs $358.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Five Below generated $4.8B in revenue in fiscal year 2026. This represents an increase of 22.9% from the prior year.
Five Below's EBITDA was $649.5M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 32.2% from the prior year.
Five Below reported $358.6M in net income in fiscal year 2026. This represents an increase of 41.4% from the prior year.
Five Below earned $6.47 per diluted share (EPS) in fiscal year 2026. This represents an increase of 40.7% from the prior year.
Cash & Balance Sheet
Five Below generated $411.7M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 286.0% from the prior year.
Five Below held $638.9M in cash against $0 in long-term debt as of fiscal year 2026.
Five Below had 55M shares outstanding in fiscal year 2026. This represents an increase of 0.3% from the prior year.
Margins & Returns
Five Below's gross margin was 36.0% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 1.1 percentage points from the prior year.
Five Below's operating margin was 9.6% in fiscal year 2026, reflecting core business profitability. This is up 1.2 percentage points from the prior year.
Five Below's net profit margin was 7.5% in fiscal year 2026, showing the share of revenue converted to profit. This is up 1.0 percentage points from the prior year.
Five Below's ROE was 15.5% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is up 1.9 percentage points from the prior year.
Capital Allocation
Five Below spent $0 on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.
Five Below invested $174.7M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents a decrease of 46.1% from the prior year.
FIVE Income Statement
| Metric | Q2'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.3B+23.8% | $1.0B+1.1% | $1.0B+5.8% | $970.5M-30.2% | $1.4B+64.9% | $843.7M+1.6% | $830.1M+2.2% | $811.9M |
| Cost of Revenue | $807.0M+17.5% | $686.9M+0.3% | $684.5M+5.9% | $646.6M | N/A | $585.7M+4.9% | $558.3M+1.8% | $548.3M |
| Gross Profit | $478.6M+36.2% | $351.4M+2.6% | $342.4M+5.7% | $323.9M | N/A | $258.0M-5.1% | $271.8M+3.1% | $263.5M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $273.3M+5.4% | $259.2M+7.0% | $242.3M+7.0% | $226.5M | N/A | $215.4M+14.1% | $188.8M-0.7% | $190.2M |
| Operating Income | $154.2M+256.2% | $43.3M-17.3% | $52.4M+3.0% | $50.8M-79.4% | $246.8M+40820.1% | -$606K-101.5% | $41.5M+14.8% | $36.1M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $39.4M+212.7% | $12.6M-16.7% | $15.1M-1.3% | $15.3M | N/A | $515K-95.5% | $11.6M+19.5% | $9.7M |
| Net Income | $123.1M+237.1% | $36.5M-14.6% | $42.8M+3.9% | $41.1M-78.0% | $187.5M+11011.9% | $1.7M-94.9% | $33.0M+4.9% | $31.5M |
| EPS (Diluted) | $2.21+234.8% | $0.66-14.3% | $0.77+2.7% | $0.75-77.9% | $3.39+11200.0% | $0.03-95.0% | $0.60+5.3% | $0.57 |
FIVE Balance Sheet
| Metric | Q2'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $5.1B+5.5% | $4.8B+4.0% | $4.6B+3.5% | $4.5B+2.6% | $4.3B+3.7% | $4.2B+4.3% | $4.0B+1.7% | $3.9B |
| Current Assets | $2.1B+17.1% | $1.8B+11.1% | $1.6B+7.6% | $1.5B+9.0% | $1.4B+11.5% | $1.2B+8.4% | $1.1B-2.8% | $1.2B |
| Cash & Equivalents | $638.9M+82.0% | $351.0M-37.6% | $562.7M+31.6% | $427.5M+28.9% | $331.7M+95.5% | $169.7M-18.8% | $209.0M+117.1% | $96.3M |
| Inventory | $813.3M-26.9% | $1.1B+39.1% | $799.6M+13.9% | $702.1M+6.5% | $659.5M-19.4% | $817.8M+27.8% | $639.9M+1.6% | $630.0M |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $2.7B-3.4% | $2.8B+5.2% | $2.7B+4.0% | $2.6B+2.5% | $2.5B-1.5% | $2.6B+6.8% | $2.4B+1.8% | $2.4B |
| Current Liabilities | $982.7M-10.4% | $1.1B+18.6% | $924.6M+7.3% | $861.7M+13.9% | $756.4M-13.6% | $875.4M+27.8% | $685.2M-7.6% | $741.6M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $2.3B+18.6% | $2.0B+2.3% | $1.9B+2.6% | $1.9B+2.8% | $1.8B+11.9% | $1.6B+0.5% | $1.6B+1.5% | $1.6B |
| Retained Earnings | $2.1B+20.3% | $1.8B+2.1% | $1.7B+2.5% | $1.7B+2.5% | $1.7B+12.8% | $1.5B+0.1% | $1.5B+2.3% | $1.4B |
FIVE Cash Flow Statement
| Metric | Q2'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $227.2M+383.6% | -$80.1M-186.2% | $93.0M-29.9% | $132.7M-63.5% | $363.5M+1288.8% | -$30.6M-142.9% | $71.3M+169.5% | $26.4M |
| Capital Expenditures | $37.2M-29.9% | $53.0M+18.6% | $44.7M+23.5% | $36.2M-30.6% | $52.1M-35.1% | $80.4M-22.4% | $103.6M+17.9% | $87.9M |
| Free Cash Flow | $190.0M+242.7% | -$133.2M-375.8% | $48.3M-49.9% | $96.5M-69.0% | $311.4M+380.6% | -$111.0M-243.0% | -$32.4M+47.3% | -$61.4M |
| Investing Cash Flow | -$303.1M-132.4% | -$130.4M-393.7% | $44.4M+224.5% | -$35.7M+82.4% | -$202.3M-2239.7% | -$8.6M-116.9% | $51.1M+169.9% | -$73.1M |
| Financing Cash Flow | -$9.0M-619.6% | -$1.2M+40.7% | -$2.1M-67.7% | -$1.3M-266.8% | $752K+777.5% | -$111K+98.8% | -$9.6M+74.0% | -$36.8M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | $0 | $0 | $0+100.0% | -$13K | $0-100.0% | $10.1M-66.6% | $30.2M |
FIVE Financial Ratios
| Metric | Q2'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 37.2%+3.4pp | 33.9%+0.5pp | 33.3%-0.0pp | 33.4% | N/A | 30.6%-2.2pp | 32.7%+0.3pp | 32.5% |
| Operating Margin | 12.0%+7.8pp | 4.2%-0.9pp | 5.1%-0.1pp | 5.2%-12.5pp | 17.7%+17.8pp | -0.1%-5.1pp | 5.0%+0.6pp | 4.5% |
| Net Margin | 9.6%+6.0pp | 3.5%-0.6pp | 4.2%-0.1pp | 4.2%-9.2pp | 13.5%+13.3pp | 0.2%-3.8pp | 4.0%+0.1pp | 3.9% |
| Return on Equity | 5.3%+3.4pp | 1.9%-0.4pp | 2.2%+0.0pp | 2.2%-8.2pp | 10.4%+10.3pp | 0.1%-1.9pp | 2.1%+0.1pp | 2.0% |
| Return on Assets | 2.4%+1.7pp | 0.8%-0.2pp | 0.9%0.0pp | 0.9%-3.4pp | 4.3%+4.3pp | 0.0%-0.8pp | 0.8%+0.0pp | 0.8% |
| Current Ratio | 2.10+0.5 | 1.60-0.1 | 1.710.0 | 1.71-0.1 | 1.79+0.4 | 1.38-0.2 | 1.63+0.1 | 1.55 |
| Debt-to-Equity | 1.19-0.3 | 1.46+0.0 | 1.42+0.0 | 1.400.0 | 1.40-0.2 | 1.59+0.1 | 1.500.0 | 1.49 |
| FCF Margin | 14.8%+27.6pp | -12.8%-17.5pp | 4.7%-5.2pp | 9.9%-12.4pp | 22.4%+35.5pp | -13.2%-9.3pp | -3.9%+3.7pp | -7.6% |
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Frequently Asked Questions
What is Five Below's annual revenue?
Five Below (FIVE) reported $4.8B in total revenue for fiscal year 2026. This represents a 22.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Five Below's revenue growing?
Five Below (FIVE) revenue grew by 22.9% year-over-year, from $3.9B to $4.8B in fiscal year 2026.
Is Five Below profitable?
Yes, Five Below (FIVE) reported a net income of $358.6M in fiscal year 2026, with a net profit margin of 7.5%.
What is Five Below's EBITDA?
Five Below (FIVE) had EBITDA of $649.5M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
What is Five Below's gross margin?
Five Below (FIVE) had a gross margin of 36.0% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
What is Five Below's operating margin?
Five Below (FIVE) had an operating margin of 9.6% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is Five Below's net profit margin?
Five Below (FIVE) had a net profit margin of 7.5% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
What is Five Below's return on equity (ROE)?
Five Below (FIVE) has a return on equity of 15.5% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Five Below's free cash flow?
Five Below (FIVE) generated $411.7M in free cash flow during fiscal year 2026. This represents a 286.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Five Below's operating cash flow?
Five Below (FIVE) generated $586.4M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Five Below's total assets?
Five Below (FIVE) had $5.1B in total assets as of fiscal year 2026, including both current and long-term assets.
What are Five Below's capital expenditures?
Five Below (FIVE) invested $174.7M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
What is Five Below's current ratio?
Five Below (FIVE) had a current ratio of 2.10 as of fiscal year 2026, which is generally considered healthy.
What is Five Below's debt-to-equity ratio?
Five Below (FIVE) had a debt-to-equity ratio of 1.19 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Five Below's return on assets (ROA)?
Five Below (FIVE) had a return on assets of 7.1% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Five Below's Altman Z-Score?
Five Below (FIVE) has an Altman Z-Score of 4.59, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Five Below's Piotroski F-Score?
Five Below (FIVE) has a Piotroski F-Score of 7 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Five Below's earnings high quality?
Five Below (FIVE) has an earnings quality ratio of 1.64x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Five Below?
Five Below (FIVE) scores 63 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.