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Specialty business services · Industrials · Fiscal year ends Dec 31
Frontdoor reported revenue of $2.1B in the fiscal year ended Dec 2025, up 13.6% from the year before. Operating income was $417M, an operating margin of 19.9%, and net income was $255M. Operating cash flow of $416M less capital expenditure of $26M left free cash flow of $390M. Net debt was $607M.
Ranks among the 21 specialty business services companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 1,602 | 1,662 | 1,780 | 1,843 | 2,093 |
| Cost of revenue | 818 | 952 | 895 | 852 | 936 |
| Gross profit | 784 | 710 | 885 | 991 | 1,157 |
| Selling, general & admin | 511 | 521 | 581 | 612 | 669 |
| Operating incomederived: pre-tax income + interest | 207 | 124 | 269 | 349 | 417 |
| Interest expense | 39.0 | 31.0 | 40.0 | 40.0 | 79.0 |
| Pre-tax income | 168 | 93.0 | 229 | 309 | 338 |
| Income tax | 39.0 | 22.0 | 57.0 | 74.0 | 84.0 |
| Net income | 128 | 71.0 | 171 | 235 | 255 |
| Diluted EPS | 1.50 | 0.87 | 2.12 | 3.01 | 3.42 |
| Diluted shares | 85.5 | 82.0 | 80.9 | 78.0 | 74.5 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 262 | 292 | 325 | 421 | 566 |
| Receivables | 7.0 | 5.0 | 6.0 | 10.0 | 10.0 |
| Current assets | 295 | 330 | 363 | 488 | 624 |
| Net PP&E | 66.0 | 66.0 | 60.0 | 73.0 | 57.0 |
| Goodwill | 512 | 503 | 503 | 967 | 959 |
| Total assets | 1,069 | 1,082 | 1,089 | 2,107 | 2,142 |
| Payables | 66.0 | 80.0 | 76.0 | 71.0 | 89.0 |
| Deferred revenue | 155 | 121 | 102 | 123 | 107 |
| Current liabilities | 378 | 364 | 331 | 369 | 402 |
| Long-term debt | 608 | 609 | 593 | 1,199 | 1,173 |
| Total liabilities | 1,067 | 1,021 | 953 | 1,868 | 1,900 |
| Shareholders' equity | 2.0 | 61.0 | 136 | 239 | 242 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 185 | 142 | 202 | 270 | 416 |
| Capital expenditure | 31.0 | 40.0 | 32.0 | 39.0 | 26.0 |
| Free cash flow | 154 | 102 | 170 | 231 | 390 |
| Depreciation & amortisation | 35.0 | 34.0 | 37.0 | 39.0 | 89.0 |
| Stock-based compensation | 25.0 | 22.0 | 26.0 | 26.0 | 34.0 |
| Acquisitions | – | 0.0 | 0.0 | 583 | −3.0 |
| Share buybacks | 103 | 59.0 | 121 | 161 | 283 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 3.7% | 7.1% | 3.5% | 13.6% |
| Operating income growth (YoY) | – | −40.1% | 116.9% | 29.7% | 19.5% |
| EPS growth (YoY) | – | −42.0% | 143.7% | 42.0% | 13.6% |
| Gross margin | 48.9% | 42.7% | 49.7% | 53.8% | 55.3% |
| Operating margin | 12.9% | 7.5% | 15.1% | 18.9% | 19.9% |
| Net margin | 8.0% | 4.3% | 9.6% | 12.8% | 12.2% |
| Return on equityBlank when equity is negative | 6400.0% | 116.4% | 125.7% | 98.3% | 105.4% |
| ROCEEBIT ÷ (assets − current liabilities) | 30.0% | 17.3% | 35.5% | 20.1% | 24.0% |
| Free cash flow margin | 9.6% | 6.1% | 9.6% | 12.5% | 18.6% |
| Cash conversion (CFO ÷ net income) | 1.45x | 2.00x | 1.18x | 1.15x | 1.63x |
| Receivable days | 2 | 1 | 1 | 2 | 2 |
| Payable days | 29 | 31 | 31 | 30 | 35 |
| Interest cover | 5.31x | 4.00x | 6.72x | 8.72x | 5.28x |
| Debt ÷ equity | 304x | 9.98x | 4.36x | 5.02x | 4.85x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 346 | 317 | 268 | 778 | 607 |
| Current ratio | 0.78x | 0.91x | 1.10x | 1.32x | 1.55x |
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.