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Side-by-side financial comparison of FLOWERS FOODS INC (FLO) and Oatly Group AB (OTLY). Click either name above to swap in a different company.
FLOWERS FOODS INC is the larger business by last-quarter revenue ($1.2B vs $456.6M, roughly 2.7× Oatly Group AB). FLOWERS FOODS INC runs the higher net margin — 3.2% vs -18.5%, a 21.8% gap on every dollar of revenue. On growth, Oatly Group AB posted the faster year-over-year revenue change (8.1% vs 3.0%). FLOWERS FOODS INC produced more free cash flow last quarter ($30.4M vs $-11.3M).
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."
Oatly Group AB is a Swedish food company, publicly traded on the American stock market, that produces alternatives to dairy products from oats, including oat milk. Oatly was formed in the 1990s using research from Lund University. Oatly has headquarters in Malmö and a production and development centre in Landskrona.
FLO vs OTLY — Head-to-Head
Income Statement — Q3 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $456.6M |
| Net Profit | $39.5M | $-84.6M |
| Gross Margin | — | 32.2% |
| Operating Margin | 5.4% | -5.9% |
| Net Margin | 3.2% | -18.5% |
| Revenue YoY | 3.0% | 8.1% |
| Net Profit YoY | -39.2% | 32.8% |
| EPS (diluted) | $0.19 | $-0.14 |
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 | $456.6M | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.6B | $208.4M | ||
| Q4 24 | $1.2B | $422.3M | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.6B | $202.2M | ||
| Q4 23 | $1.1B | — |
| Q4 25 | $39.5M | $-84.6M | ||
| Q3 25 | $58.4M | — | ||
| Q2 25 | $53.0M | $-55.9M | ||
| Q4 24 | $65.0M | $-126.0M | ||
| Q3 24 | $67.0M | — | ||
| Q2 24 | $73.0M | $-30.4M | ||
| Q4 23 | — | — |
| Q4 25 | — | 32.2% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 32.5% | ||
| Q4 24 | — | 29.3% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 29.2% | ||
| Q4 23 | — | — |
| Q4 25 | 5.4% | -5.9% | ||
| Q3 25 | 7.5% | — | ||
| Q2 25 | 5.5% | -10.6% | ||
| Q4 24 | 7.6% | -28.1% | ||
| Q3 24 | 7.8% | — | ||
| Q2 24 | 6.4% | -19.3% | ||
| Q4 23 | 4.4% | — |
| Q4 25 | 3.2% | -18.5% | ||
| Q3 25 | 4.7% | — | ||
| Q2 25 | 3.4% | -26.9% | ||
| Q4 24 | 5.5% | -29.8% | ||
| Q3 24 | 5.5% | — | ||
| Q2 24 | 4.6% | -15.1% | ||
| Q4 23 | — | — |
| Q4 25 | $0.19 | $-0.14 | ||
| Q3 25 | $0.28 | — | ||
| Q2 25 | $0.25 | $-0.09 | ||
| Q4 24 | $0.31 | $-0.21 | ||
| Q3 24 | $0.32 | — | ||
| Q2 24 | $0.34 | $-0.05 | ||
| Q4 23 | $0.17 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $16.7M | $64.3M |
| Total DebtLower is stronger | $1.8B | $523.0M |
| Stockholders' EquityBook value | $1.4B | $19.7M |
| Total Assets | $4.3B | $787.2M |
| Debt / EquityLower = less leverage | 1.25× | 26.59× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $16.7M | $64.3M | ||
| Q3 25 | $11.0M | — | ||
| Q2 25 | $7.3M | $67.9M | ||
| Q4 24 | $15.0M | $98.9M | ||
| Q3 24 | $6.9M | — | ||
| Q2 24 | $15.8M | $142.7M | ||
| Q4 23 | $22.5M | — |
| Q4 25 | $1.8B | $523.0M | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.8B | $120.6M | ||
| Q4 24 | $1.1B | $446.4M | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.0B | — | ||
| Q4 23 | $1.0B | — |
| Q4 25 | $1.4B | $19.7M | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | $96.7M | ||
| Q4 24 | $1.4B | $106.1M | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | $245.8M | ||
| Q4 23 | $1.4B | — |
| Q4 25 | $4.3B | $787.2M | ||
| Q3 25 | $4.3B | — | ||
| Q2 25 | $4.3B | $803.1M | ||
| Q4 24 | $3.4B | $804.0M | ||
| Q3 24 | $3.4B | — | ||
| Q2 24 | $3.4B | — | ||
| Q4 23 | $3.4B | — |
| Q4 25 | 1.25× | 26.59× | ||
| Q3 25 | 1.23× | — | ||
| Q2 25 | 1.26× | 1.25× | ||
| Q4 24 | 0.75× | 4.21× | ||
| Q3 24 | 0.77× | — | ||
| Q2 24 | 0.76× | — | ||
| Q4 23 | 0.78× | — |
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 | $54.4M | $-8.7M |
| Free Cash FlowOCF − Capex | $30.4M | $-11.3M |
| FCF MarginFCF / Revenue | 2.5% | -2.5% |
| Capex IntensityCapex / Revenue | 2.0% | 0.6% |
| Cash ConversionOCF / Net Profit | 1.38× | — |
| TTM Free Cash FlowTrailing 4 quarters | $325.3M | $-189.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $54.4M | $-8.7M | ||
| Q3 25 | $130.8M | — | ||
| Q2 25 | $135.6M | $-15.0M | ||
| Q4 24 | $113.9M | $-28.4M | ||
| Q3 24 | $63.3M | — | ||
| Q2 24 | $105.1M | $-86.0M | ||
| Q4 23 | $92.0M | — |
| Q4 25 | $30.4M | $-11.3M | ||
| Q3 25 | $100.0M | — | ||
| Q2 25 | $110.1M | $-24.8M | ||
| Q4 24 | $88.6M | $-47.9M | ||
| Q3 24 | $35.4M | — | ||
| Q2 24 | $71.8M | $-105.7M | ||
| Q4 23 | $60.0M | — |
| Q4 25 | 2.5% | -2.5% | ||
| Q3 25 | 8.0% | — | ||
| Q2 25 | 7.1% | -11.9% | ||
| Q4 24 | 7.4% | -11.3% | ||
| Q3 24 | 2.9% | — | ||
| Q2 24 | 4.6% | -52.3% | ||
| Q4 23 | 5.3% | — |
| Q4 25 | 2.0% | 0.6% | ||
| Q3 25 | 2.5% | — | ||
| Q2 25 | 1.6% | 4.7% | ||
| Q4 24 | 2.1% | 4.6% | ||
| Q3 24 | 2.3% | — | ||
| Q2 24 | 2.1% | 9.7% | ||
| Q4 23 | 2.8% | — |
| Q4 25 | 1.38× | — | ||
| Q3 25 | 2.24× | — | ||
| Q2 25 | 2.56× | — | ||
| Q4 24 | 1.75× | — | ||
| Q3 24 | 0.94× | — | ||
| Q2 24 | 1.44× | — | ||
| Q4 23 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
