Professional
Added to YB: 2026-01-12
Pitch date: 2026-01-09
FND [neutral]
Floor & Decor Holdings, Inc.
Author Info
Company Info
Floor & Decor Holdings, Inc., together with its subsidiaries, operates as a multi-channel specialty retailer of hard surface flooring and related accessories, and commercial surfaces seller in the United States.
Market Cap
$7.8B
Pitch Price
N/A
Price Target
215.00 (+219%)
Dividend
N/A
EV/EBITDA
11.45
P/E
36.37
EV/Sales
2.06
Sector
Specialty Retail
Category
turnaround
Bristlemoon Global Fund Portfolio Holding: Floor & Decor Holdings, Inc.
FND (holding update): Category killer flooring retailer w/ 75K sq ft warehouses vs competitors' 3-5K, stocking 2,350+ SKUs vs ~650, enabling job-ready quantities for Pro customers (50% of sales). 11% avg comp growth 14yrs, 24% revenue CAGR 2011-24. Currently underearning due to housing downturn - existing home sales collapsed from 6.5M to <4.5M. Stock down 5yrs despite quality biz. 262 stores vs 500 target. Bull case: mortgage rates normalizing could drive housing recovery, young stores ramping, 35% incremental operating leverage. Bear: prolonged housing weakness. Trading 32x depressed earnings, ~$140-215 upside on recovery.
Read full article (14 min)