MOHAWK INDUSTRIES INC MHK
Unless this Form 10-K indicates otherwise or the context otherwise requires, the terms "we," "our," "us," "Mohawk," or "the Company" as used in this Form 10-K refer to Mohawk Industries, Inc.
Mohawk is a leading global flooring manufacturer that creates products to enhance residential and commercial spaces around the world. The Company's vertically integrated manufacturing and distribution processes provide competitive advantages in ceramic tile, carpet, rugs, laminate, wood, stone, luxury vinyl tile ("LVT"), hybrid and sheet vinyl flooring. The Company's industry-leading innovation develops products and technologies that differentiate its brands in the marketplace and satisfy all flooring-related remodeling and new construction requirements. The Company's brands are among the most recognized in the industry and include American Olean®, Daltile®, Decortiles®, Durkan®, Eliane®, Elizabeth®, Feltex®, Godfrey Hirst®, IVC Home®, Karastan®, Kerama Marazzi®, Marazzi®, Moduleo®, Mohawk®, Pergo®, Quick-Step®, Unilin® and Vitromex®. During the past two decades, the Company has transformed its business from an American carpet manufacturer into the world's largest flooring company with operations in Asia, Europe, North America, Oceania and South America. The Company had annual net sales in 2025 of $10.8 billion. Approximately 54% of this amount was generated by sales in the United States, and approximately 46% was generated by sales outside the United States. The Company has three reporting segments: Global Ceramic, Flooring North America ("Flooring NA") and Flooring Rest of the World ("Flooring ROW") with their 2025 net sales representing 40%, 34% and 26%, respectively, of the Company's total revenue. Selected financial information for the three segments, geographic net sales and the location of long-lived assets are set forth in Note 17, Segment Reporting.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.79B | $10.84B | $11.14B | $11.74B | $11.20B | $9.55B | $9.97B | $9.98B | $9.49B | $8.96B |
| Cost of revenue | $8.21B | $8.15B | $8.43B | $8.79B | $7.93B | $7.12B | $7.29B | $7.15B | $6.49B | $6.15B |
| Gross profit | $2.57B | $2.69B | $2.71B | $2.94B | $3.27B | $2.43B | $2.68B | $2.84B | $3.00B | $2.81B |
| SG&A | $2.06B | $1.98B | $2.12B | $2.00B | $1.93B | $1.79B | $1.85B | $1.74B | $1.64B | $1.53B |
| Total operating expenses | $103.4M | $58.5M | $133.9M | — | — | — | — | — | — | — |
| Operating income | $489.8M | $693.5M | -$291.9M | $244.2M | $1.34B | $636.0M | $827.2M | $1.10B | $1.35B | $1.28B |
| Interest expense | $17.8M | $48.5M | $77.5M | $51.9M | $57.3M | $52.4M | $41.3M | $38.8M | $31.1M | $40.5M |
| Pre-tax income | $468.7M | $643.0M | -$364.0M | $183.9M | $1.29B | $584.4M | $749.5M | $1.05B | $1.32B | $1.24B |
| Income tax | $98.8M | $128.2M | $84.9M | $158.1M | $256.4M | $68.6M | $5.0M | $184.3M | $343.2M | $307.6M |
| Net income | $369.9M | $514.7M | -$449.0M | $25.2M | $1.03B | $515.6M | $744.2M | $861.7M | $971.6M | $930.4M |
| EPS, basic | 5.96 | 8.13 | -7.05 | 0.40 | 15.01 | 7.24 | 10.34 | 11.53 | 13.07 | 12.55 |
| EPS, diluted | 5.93 | 8.09 | -7.05 | 0.39 | 14.94 | 7.22 | 10.30 | 11.47 | 12.98 | 12.48 |
| Shares, diluted (wtd. avg.) | $62.4M | $63.6M | $63.7M | $64.1M | $69.1M | $71.4M | $72.3M | $74.8M | $74.8M | $74.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $856.1M | $666.6M | $642.6M | $509.6M | $268.9M | $768.6M | $134.8M | $119.0M | $84.9M | $121.7M |
| Short-term investments | $0 | $0 | $0 | $158.0M | $323.0M | $571.7M | $42.5M | — | — | — |
| Receivables | $1.92B | $1.76B | $1.87B | $1.90B | $1.84B | $1.71B | $1.53B | $1.61B | $1.56B | $1.38B |
| Inventory | $2.66B | $2.51B | $2.55B | $2.79B | $2.39B | $1.91B | $2.28B | $2.29B | $1.95B | $1.68B |
| Total current assets | $5.97B | $5.45B | $5.60B | $5.90B | $5.24B | $5.36B | $4.43B | $4.51B | $4.07B | $3.47B |
| Property, plant and equipment | $4.77B | $4.58B | $4.99B | $4.66B | $4.64B | $4.59B | $4.70B | $4.70B | $4.27B | $3.37B |
| Goodwill | $1.21B | $1.11B | $1.16B | $1.93B | $2.61B | $2.65B | $2.57B | $2.52B | $2.47B | $2.27B |
| Other intangibles | $117.4M | $134.1M | $169.6M | $189.6M | $205.1M | $224.3M | $226.1M | $254.4M | $247.6M | $254.5M |
| Total assets | $13.69B | $12.74B | $13.52B | $14.12B | $14.22B | $14.33B | $13.39B | $13.10B | $12.09B | $10.23B |
| Accounts payable | $2.31B | $2.00B | $2.04B | $2.12B | $2.22B | $1.90B | $1.56B | $1.52B | $1.45B | $1.34B |
| Short-term debt | $289.3M | $559.4M | $1.00B | $840.6M | $624.5M | $377.3M | $1.05B | $1.74B | $1.20B | $1.38B |
| Total current liabilities | $2.72B | $2.67B | $3.15B | $3.07B | $2.95B | $2.37B | $2.71B | $3.27B | $2.66B | $2.72B |
| Long-term debt | $1.74B | $1.68B | $1.70B | $1.98B | $1.70B | $2.36B | $1.52B | $1.52B | $1.56B | $1.13B |
| Total liabilities | $5.31B | $5.22B | $5.93B | $6.10B | $5.80B | $5.79B | $5.26B | $5.66B | $5.00B | $4.42B |
| Retained earnings | $7.50B | $7.28B | $6.97B | $7.41B | $7.69B | $7.56B | $7.23B | $6.59B | $6.00B | $5.03B |
| Total equity | $8.37B | $7.51B | $7.59B | $7.99B | $8.43B | $8.54B | $8.13B | $7.44B | $7.07B | $5.78B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.06B | $1.13B | $1.33B | $669.2M | $1.31B | $1.77B | $1.42B | $1.18B | $1.19B | $1.35B |
| Depreciation and amortisation | $652.6M | $638.3M | $630.3M | $595.5M | $591.7M | $607.5M | $576.5M | $521.8M | $446.7M | $409.5M |
| Stock-based compensation | $30.0M | $27.5M | $20.9M | $22.4M | $25.7M | $19.7M | $23.6M | $31.4M | $36.3M | $35.1M |
| Capital expenditure | $440.0M | $454.4M | $612.9M | $580.7M | $676.1M | $425.6M | $545.5M | $794.1M | $906.0M | $672.1M |
| Investing cash flow | -$441.9M | -$454.4M | -$970.3M | -$625.3M | -$556.8M | -$954.8M | -$616.0M | -$1.33B | -$1.24B | -$672.1M |
| Financing cash flow | -$470.0M | -$629.5M | -$210.6M | $194.3M | -$1.23B | -$188.2M | -$789.9M | $198.0M | -$7.0M | -$641.6M |
| Buybacks | $149.8M | $162.8M | $0 | $307.6M | $900.3M | $188.6M | $100.1M | $274.1M | $0 | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000851968-26-000011.
Others in SIC 2273
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| TILE | INTERFACE INC | $2.15B | 19.0x | 5.4% |