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Apparel & textiles · Consumer Cyclical · Fiscal year ends Dec 31
Mohawk Industries reported revenue of $10.8B in the fiscal year ended Dec 2025, down 0.5% from the year before. Operating income was $490M, an operating margin of 4.5%, and net income was $370M. Operating cash flow of $1.1B less capital expenditure of $440M left free cash flow of $616M. Net debt was $1.2B.
Ranks among the 15 apparel & textiles 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 | 11,201 | 11,737 | 11,135 | 10,837 | 10,785 |
| Cost of revenue | 7,932 | 8,794 | 8,430 | 8,150 | 8,211 |
| Gross profit | 3,269 | 2,943 | 2,706 | 2,687 | 2,575 |
| Selling, general & admin | 1,934 | 2,003 | 2,120 | 1,985 | 2,065 |
| Operating income | 1,335 | 244 | −292 | 694 | 490 |
| Interest expense | 57.3 | 51.9 | 77.5 | 48.5 | 17.8 |
| Pre-tax income | 1,290 | 184 | −364 | 643 | 469 |
| Income tax | 256 | 158 | 84.9 | 128 | 98.8 |
| Net income | 1,033 | 25.2 | −449 | 515 | 370 |
| Diluted EPS | 14.94 | 0.39 | −7.05 | 8.09 | 5.93 |
| Diluted shares | 69.1 | 64.1 | 63.7 | 63.6 | 62.4 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 269 | 510 | 643 | 667 | 856 |
| Receivables | 1,840 | 1,905 | 1,875 | 1,762 | 1,924 |
| Inventory | 2,392 | 2,794 | 2,552 | 2,514 | 2,662 |
| Current assets | 5,238 | 5,895 | 5,604 | 5,455 | 5,967 |
| Net PP&E | 4,637 | 4,661 | 4,993 | 4,580 | 4,772 |
| Goodwill | 2,608 | 1,928 | 1,160 | 1,112 | 1,210 |
| Total assets | 14,225 | 14,120 | 13,521 | 12,737 | 13,687 |
| Payables | 1,229 | 1,094 | 1,038 | 979 | 1,089 |
| Deferred revenue | 65.7 | 72.6 | 68.0 | 63.4 | 74.3 |
| Current liabilities | 2,946 | 3,070 | 3,146 | 2,672 | 2,722 |
| Short-term debt | 625 | 841 | 1,002 | 559 | 289 |
| Long-term debt | 1,700 | 1,979 | 1,702 | 1,677 | 1,741 |
| Total liabilities | 5,796 | 6,103 | 5,931 | 5,222 | 5,309 |
| Shareholders' equity | 8,421 | 8,012 | 7,623 | 7,509 | 8,373 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 1,309 | 669 | 1,329 | 1,134 | 1,056 |
| Capital expenditure | 676 | 581 | 613 | 454 | 440 |
| Free cash flow | 633 | 88.5 | 716 | 680 | 616 |
| Depreciation & amortisation | 592 | 596 | 630 | 638 | 653 |
| Stock-based compensation | 25.7 | 22.4 | 20.9 | 27.5 | 30.0 |
| Acquisitions | 124 | 210 | 515 | 0.0 | 6.9 |
| Share buybacks | 900 | 308 | 0.0 | 163 | 150 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 4.8% | −5.1% | −2.7% | −0.5% |
| Operating income growth (YoY) | – | −81.7% | −219.5% | – | −29.4% |
| EPS growth (YoY) | – | −97.4% | −1907.7% | – | −26.7% |
| Gross margin | 29.2% | 25.1% | 24.3% | 24.8% | 23.9% |
| Operating margin | 11.9% | 2.1% | −2.6% | 6.4% | 4.5% |
| Net margin | 9.2% | 0.2% | −4.0% | 4.7% | 3.4% |
| Return on equityBlank when equity is negative | 12.3% | 0.3% | −5.9% | 6.9% | 4.4% |
| ROCEEBIT ÷ (assets − current liabilities) | 11.8% | 2.2% | −2.8% | 6.9% | 4.5% |
| Free cash flow margin | 5.7% | 0.8% | 6.4% | 6.3% | 5.7% |
| Cash conversion (CFO ÷ net income) | 1.27x | 26.6x | −2.96x | 2.20x | 2.86x |
| Receivable days | 60 | 59 | 61 | 59 | 65 |
| Inventory days | 110 | 116 | 110 | 113 | 118 |
| Payable days | 57 | 45 | 45 | 44 | 48 |
| Interest cover | 23.3x | 4.70x | −3.77x | 14.3x | 27.5x |
| Debt ÷ equity | 0.28x | 0.35x | 0.35x | 0.30x | 0.24x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 2,056 | 2,310 | 2,061 | 1,570 | 1,174 |
| Current ratio | 1.78x | 1.92x | 1.78x | 2.04x | 2.19x |
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.