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The Moat Index

FLOWERS FOODS, INC

FLO · Consumer Staples · $1.8B mkt cap · FY2025 filings · Not rated ·

Not rated

—/ 100
Not rated

We don't have enough comparable filing data to score FLO on every filter, so we don't publish a composite. Missing: pricingPower.

19 years of fundamentals

The business, in plain English

Across the filed record, revenue grew from $2.4B (FY2008) to $5.3B (FY2025) — about 4.7% a year compounded over 17 years.

It earned 4.2% on invested capital in FY2025, with a median of 10.2% across 18 filed years. The Returns on Capital filter above scores it 28/100.

The balance sheet carried $1.8B of total debt in FY2025 against $124.1M of owner earnings — roughly 14.1 years of owner earnings to retire it all. Balance-Sheet Safety scores it 1/100.

The share count rose 132.8% between FY2010 and FY2025 — existing owners have been diluted over the record. Capital Discipline scores it 17/100.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

FY2007–FY2025 · 19 fiscal years, normalized from FLO’s SEC filings

RevenueSales, as filed$5.3B FY2025
$0$2B$4B2007201320192025
Gross marginRevenue kept after cost of goods47.7% FY2010
0%20%40%2007201320192025
Return on invested capitalOperating profit on the capital employed4.2% FY2025
0%10%20%2007201320192025
Owner earningsCash an owner could take out$124.1M FY2025
$0$100M$200M2007201320192025

Gaps in a line mean that item isn’t in FLO’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

6 logged readings since Jul 17, 2026 · append-only, never rewritten

Moat Score over timeLast scored reading of each day, on the 0–100 scale

No composite readings yet — FLO’s filings don’t give the engine enough comparable data to score, and we log that honestly instead of guessing a number.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — FLO hasn't been rated on any logged capture, so there's no tier to change from.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Track record

How FLOWERS FOODS, INC’s moat rated in each of the years we can reconstruct from its filings — scored only on what was knowable at the time — and what its price and returns did afterward. The score never saw a price; the two are joined only in hindsight, for education, not as a signal.

As-of scores 2011–2025, one methodology version · reconstructed from filings on file each Dec 31 — never with hindsight

As-of Moat Score (dot colored by tier)Indexed price (total-return (dividends reinvested))Rated Wide-moat that year

How to read this: each dot is what the engine would have scored FLO on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.

0406080100WideNarrowShallowNo moatAs-of Moat Score100200Indexed price · log scale (2012 = 100)201120142017202020232026

Two tracks, one timeline: the score has its own 0–100 scale (top), the price its own 100-based scale (bottom) — never a shared axis. The price path is a total-return (dividends reinvested) index built from the same data the forward returns use; gaps in the score line are years with no reconstructed rating (see the table for why). The Table view carries every value.

What followed, in the years it rated Wide

In the reconstructed history shown, FLO did not rate Wide-moat in any year, so there is no wide-moat track record to report. That absence is itself the honest answer — we don’t manufacture a comparison where the rating never earned one.

Consumer Staples context

Not ranked — FLO doesn’t have enough comparable filing data for a composite score, so we don’t place it on the board.

Consumer Staples leaders by Moat Score

  1. #1MNST Monster Beverage Corp93.0Wide moat
  2. #2FIZZ National Beverage Corp.80.5Wide moat
  3. #3MED Medifast, Inc.80.4Wide moat

All Consumer Staples companies on the Index →

Common questions about FLO

Does FLOWERS FOODS, INC have an economic moat?
We don't publish a Moat Score for FLOWERS FOODS, INC (FLO): its SEC filings don't provide enough comparable data to score every filter, and the Index records that gap rather than a guessed number. Missing inputs: pricing power.
Is FLO stock trading below its intrinsic value?
Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $10.86 per share versus a recent price of $8.49 — 22% below value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has FLO's Moat Score changed over time?
The record logs 6 readings since Jul 17, 2026, none with a composite — FLO hasn't had enough comparable filing data to score. No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.
Embed this score on your site

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell FLO. See the disclaimer.