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Side-by-side financial comparison of FLOWERS FOODS INC (FLO) and Garmin (GRMN). Click either name above to swap in a different company.
Garmin is the larger business by last-quarter revenue ($2.1B vs $1.2B, roughly 1.7× FLOWERS FOODS INC). On growth, Garmin posted the faster year-over-year revenue change (16.6% vs -75.8%). Over the past eight quarters, Garmin's revenue compounded faster (24.0% CAGR vs -11.6%).
Flowers Foods, headquartered in Thomasville, Georgia, is a producer and marketer of packaged bakery foods in the United States. The company operates 44 bakeries across 19 states that produce a variety of products, including bread, buns, rolls, snack cakes, pastries, and tortillas. As of February 2013, Flowers Foods had grown to be the "second-largest baking company in the United States."
Garmin Ltd. is an American multinational technology company based in Olathe, Kansas. The company designs, develops, manufactures, markets, and distributes GPS-enabled products and other navigation, communication, sensor-based, and information products to the automotive, aviation, marine, outdoors, and sport markets.
FLO vs GRMN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $2.1B |
| Net Profit | — | $528.7M |
| Gross Margin | — | 59.2% |
| Operating Margin | — | 28.9% |
| Net Margin | — | 24.9% |
| Revenue YoY | -75.8% | 16.6% |
| Net Profit YoY | — | 21.3% |
| EPS (diluted) | — | $2.72 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.2B | $2.1B | ||
| Q3 25 | $1.2B | $1.8B | ||
| Q2 25 | $1.6B | $1.8B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | $1.2B | $1.8B | ||
| Q3 24 | $1.2B | $1.6B | ||
| Q2 24 | $1.6B | $1.5B | ||
| Q1 24 | — | $1.4B |
| Q4 25 | $39.5M | $528.7M | ||
| Q3 25 | $58.4M | $401.6M | ||
| Q2 25 | $53.0M | $400.8M | ||
| Q1 25 | — | $332.8M | ||
| Q4 24 | $65.0M | $435.7M | ||
| Q3 24 | $67.0M | $399.1M | ||
| Q2 24 | $73.0M | $300.6M | ||
| Q1 24 | — | $276.0M |
| Q4 25 | — | 59.2% | ||
| Q3 25 | — | 59.1% | ||
| Q2 25 | — | 58.8% | ||
| Q1 25 | — | 57.6% | ||
| Q4 24 | — | 59.3% | ||
| Q3 24 | — | 60.0% | ||
| Q2 24 | — | 57.3% | ||
| Q1 24 | — | 58.1% |
| Q4 25 | 5.4% | 28.9% | ||
| Q3 25 | 7.5% | 25.8% | ||
| Q2 25 | 5.5% | 26.0% | ||
| Q1 25 | — | 21.7% | ||
| Q4 24 | 7.6% | 28.3% | ||
| Q3 24 | 7.8% | 27.6% | ||
| Q2 24 | 6.4% | 22.7% | ||
| Q1 24 | — | 21.6% |
| Q4 25 | 3.2% | 24.9% | ||
| Q3 25 | 4.7% | 22.7% | ||
| Q2 25 | 3.4% | 22.1% | ||
| Q1 25 | — | 21.7% | ||
| Q4 24 | 5.5% | 23.9% | ||
| Q3 24 | 5.5% | 25.2% | ||
| Q2 24 | 4.6% | 20.0% | ||
| Q1 24 | — | 20.0% |
| Q4 25 | $0.19 | $2.72 | ||
| Q3 25 | $0.28 | $2.08 | ||
| Q2 25 | $0.25 | $2.07 | ||
| Q1 25 | — | $1.72 | ||
| Q4 24 | $0.31 | $2.24 | ||
| Q3 24 | $0.32 | $2.07 | ||
| Q2 24 | $0.34 | $1.56 | ||
| Q1 24 | — | $1.43 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $12.1M | $2.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $9.0B |
| Total Assets | $4.2B | $11.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $16.7M | $2.3B | ||
| Q3 25 | $11.0M | $2.1B | ||
| Q2 25 | $7.3M | $2.1B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | $15.0M | $2.1B | ||
| Q3 24 | $6.9M | $2.0B | ||
| Q2 24 | $15.8M | $1.9B | ||
| Q1 24 | — | $1.9B |
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.4B | $9.0B | ||
| Q3 25 | $1.4B | $8.5B | ||
| Q2 25 | $1.4B | $8.1B | ||
| Q1 25 | — | $8.2B | ||
| Q4 24 | $1.4B | $7.8B | ||
| Q3 24 | $1.4B | $7.5B | ||
| Q2 24 | $1.4B | $7.0B | ||
| Q1 24 | — | $7.2B |
| Q4 25 | $4.3B | $11.0B | ||
| Q3 25 | $4.3B | $10.5B | ||
| Q2 25 | $4.3B | $10.3B | ||
| Q1 25 | — | $9.8B | ||
| Q4 24 | $3.4B | $9.6B | ||
| Q3 24 | $3.4B | $9.3B | ||
| Q2 24 | $3.4B | $8.9B | ||
| Q1 24 | — | $8.6B |
| Q4 25 | 1.25× | — | ||
| Q3 25 | 1.23× | — | ||
| Q2 25 | 1.26× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.75× | — | ||
| Q3 24 | 0.77× | — | ||
| Q2 24 | 0.76× | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $125.4M | $553.8M |
| Free Cash FlowOCF − Capex | — | $429.6M |
| FCF MarginFCF / Revenue | — | 20.2% |
| Capex IntensityCapex / Revenue | — | 5.8% |
| Cash ConversionOCF / Net Profit | — | 1.05× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $54.4M | $553.8M | ||
| Q3 25 | $130.8M | $485.6M | ||
| Q2 25 | $135.6M | $173.2M | ||
| Q1 25 | — | $420.8M | ||
| Q4 24 | $113.9M | $483.9M | ||
| Q3 24 | $63.3M | $258.0M | ||
| Q2 24 | $105.1M | $255.3M | ||
| Q1 24 | — | $435.3M |
| Q4 25 | $30.4M | $429.6M | ||
| Q3 25 | $100.0M | $425.1M | ||
| Q2 25 | $110.1M | $127.5M | ||
| Q1 25 | — | $380.7M | ||
| Q4 24 | $88.6M | $399.2M | ||
| Q3 24 | $35.4M | $219.4M | ||
| Q2 24 | $71.8M | $218.2M | ||
| Q1 24 | — | $402.1M |
| Q4 25 | 2.5% | 20.2% | ||
| Q3 25 | 8.0% | 24.0% | ||
| Q2 25 | 7.1% | 7.0% | ||
| Q1 25 | — | 24.8% | ||
| Q4 24 | 7.4% | 21.9% | ||
| Q3 24 | 2.9% | 13.8% | ||
| Q2 24 | 4.6% | 14.5% | ||
| Q1 24 | — | 29.1% |
| Q4 25 | 2.0% | 5.8% | ||
| Q3 25 | 2.5% | 3.4% | ||
| Q2 25 | 1.6% | 2.5% | ||
| Q1 25 | — | 2.6% | ||
| Q4 24 | 2.1% | 4.6% | ||
| Q3 24 | 2.3% | 2.4% | ||
| Q2 24 | 2.1% | 2.5% | ||
| Q1 24 | — | 2.4% |
| Q4 25 | 1.38× | 1.05× | ||
| Q3 25 | 2.24× | 1.21× | ||
| Q2 25 | 2.56× | 0.43× | ||
| Q1 25 | — | 1.26× | ||
| Q4 24 | 1.75× | 1.11× | ||
| Q3 24 | 0.94× | 0.65× | ||
| Q2 24 | 1.44× | 0.85× | ||
| Q1 24 | — | 1.58× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FLO
Segment breakdown not available.
GRMN
| Fitness Segment | $765.8M | 36% |
| Outdoor Segment | $627.6M | 30% |
| Marine Segment | $296.9M | 14% |
| Aviation Segment | $274.2M | 13% |
| Auto Oem Segment | $160.4M | 8% |
