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Industrial distribution · Industrials · Fiscal year ends Sep 27
Central Garden & Pet reported revenue of $3.1B in the fiscal year ended Sep 2025, down 2.2% from the year before. Operating income was $250M, an operating margin of 8.0%, and net income was $163M. Operating cash flow of $333M less capital expenditure of $41M left free cash flow of $291M. Net debt was $309M.
Ranks among the 15 industrial distribution companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue | 3,304 | 3,339 | 3,310 | 3,200 | 3,129 |
| Cost of revenue | 2,333 | 2,346 | 2,363 | 2,257 | 2,132 |
| Gross profit | 971 | 992 | 947 | 944 | 997 |
| Selling, general & admin | 716 | 732 | 736 | 758 | 747 |
| Operating income | 254 | 260 | 211 | 185 | 250 |
| Interest expense | 58.6 | 58.3 | 57.0 | 57.5 | 57.7 |
| Pre-tax income | 195 | 199 | 162 | 142 | 217 |
| Income tax | 42.0 | 46.2 | 36.3 | 33.1 | 52.8 |
| Net income | 152 | 152 | 126 | 108 | 163 |
| Diluted EPS | 2.75 | 2.24 | 1.88 | 1.62 | 2.55 |
| Diluted shares | 55.2 | 68.0 | 66.8 | 66.9 | 63.8 |
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 426 | 177 | 489 | 754 | 882 |
| Receivables | 385 | 377 | 333 | 326 | 325 |
| Inventory | 685 | 938 | 838 | 758 | 722 |
| Current assets | 1,544 | 1,554 | 1,707 | 1,887 | 1,976 |
| Net PP&E | 329 | 397 | 392 | 379 | 363 |
| Goodwill | 369 | 546 | 546 | 551 | 555 |
| Total assets | 3,117 | 3,282 | 3,379 | 3,553 | 3,626 |
| Payables | 246 | 216 | 191 | 213 | 235 |
| Current liabilities | 522 | 466 | 458 | 515 | 539 |
| Short-term debt | 1.1 | 0.3 | 0.2 | 0.2 | 0.1 |
| Long-term debt | 1,185 | 1,186 | 1,188 | 1,190 | 1,192 |
| Total liabilities | 1,893 | 1,947 | 1,926 | 1,996 | 2,041 |
| Shareholders' equity | 1,222 | 1,334 | 1,451 | 1,556 | 1,583 |
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 251 | −34.0 | 382 | 395 | 333 |
| Capital expenditure | 80.3 | 115 | 54.0 | 43.1 | 41.4 |
| Free cash flow | 171 | −149 | 328 | 352 | 291 |
| Depreciation & amortisation | 74.7 | 80.9 | 87.7 | 90.8 | 84.9 |
| Stock-based compensation | 23.1 | 25.8 | 28.0 | 20.6 | 21.1 |
| Acquisitions | 820 | 0.0 | 0.0 | 60.2 | 3.3 |
| Share buybacks | 27.9 | 62.3 | 37.2 | 24.1 | 155 |
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 1.1% | −0.9% | −3.3% | −2.2% |
| Operating income growth (YoY) | – | 2.2% | −19.0% | −12.0% | 34.9% |
| EPS growth (YoY) | – | −18.5% | −16.1% | −13.8% | 57.4% |
| Gross margin | 29.4% | 29.7% | 28.6% | 29.5% | 31.9% |
| Operating margin | 7.7% | 7.8% | 6.4% | 5.8% | 8.0% |
| Net margin | 4.6% | 4.6% | 3.8% | 3.4% | 5.2% |
| Return on equityBlank when equity is negative | 12.4% | 11.4% | 8.7% | 6.9% | 10.3% |
| ROCEEBIT ÷ (assets − current liabilities) | 9.8% | 9.2% | 7.2% | 6.1% | 8.1% |
| Free cash flow margin | 5.2% | −4.5% | 9.9% | 11.0% | 9.3% |
| Cash conversion (CFO ÷ net income) | 1.65x | −0.22x | 3.04x | 3.66x | 2.04x |
| Receivable days | 43 | 41 | 37 | 37 | 38 |
| Inventory days | 107 | 146 | 129 | 123 | 124 |
| Payable days | 38 | 34 | 29 | 34 | 40 |
| Interest cover | 4.34x | 4.46x | 3.69x | 3.22x | 4.33x |
| Debt ÷ equity | 0.97x | 0.89x | 0.82x | 0.76x | 0.75x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 759 | 1,009 | 699 | 436 | 309 |
| Current ratio | 2.96x | 3.34x | 3.73x | 3.66x | 3.67x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.