Revenue growth accelerated to 32.5% in 2026Q1, though gross margins remain subject to significant seasonal fluctuations, ranging from 30.6% to 41.2% over the past two years.
| Metric | TTM | Jan'26 | Jan'25 | Jan'24 | Jan'23 | Jan'22 | Jan'21 | Jan'20 | Jan'19 | Jan'18 | Jan'17 | Jan'16 | Jan'15 | Jan'14 | Jan'13 | Jan'12 | Jan'11 |
|---|
| Sales/Revenue | 5.08B | 4.76B | 3.88B | 3.56B | 3.08B | 2.85B | 1.96B | 1.85B | 1.56B | 1.28B | 1B | 831.95M | 680.22M | 535.4M | 418.82M | 297.11M | 197.19M |
| Revenue Growth % | 25.87% | 22.9% | 8.91% | 15.7% | 8% | 45.17% | 6.25% | 18.41% | 22.01% | 27.77% | 20.25% | 22.31% | 27.05% | 27.83% | 40.96% | 50.67% | - |
| Cost of Goods Sold | 3.31B | 3.24B | 2.52B | 2.29B | 1.98B | 1.82B | 1.31B | 1.17B | 994.48M | 814.79M | 643.37M | 540.02M | 442.43M | 347.39M | 268.99M | 192.25M | 131.05M |
| COGS % of Revenue | - | 68.04% | 65.11% | 64.21% | 64.39% | 63.82% | 66.75% | 63.5% | 63.77% | 63.75% | 64.31% | 64.91% | 65.04% | 64.88% | 64.22% | 64.71% | 66.46% |
| Gross Profit | 1.77B | 1.52B | 1.35B | 1.27B | 1.1B | 1.03B | 652.33M | 673.97M | 565.09M | 463.41M | 357.04M | 291.93M | 237.79M | 188.02M | 149.84M | 104.86M | 66.14M |
| Gross Margin % | 34.83% | 31.96% | 34.89% | 35.79% | 35.61% | 36.18% | 33.25% | 36.5% | 36.23% | 36.25% | 35.69% | 35.09% | 34.96% | 35.12% | 35.78% | 35.29% | 33.54% |
| Gross Profit Growth % | - | 12.56% | 6.19% | 16.28% | 6.31% | 57.96% | -3.21% | 19.27% | 21.94% | 29.79% | 22.3% | 22.77% | 26.47% | 25.48% | 42.89% | 58.54% | - |
| Operating Expenses | 1.21B | 1.07B | 1.03B | 888.25M | 750.45M | 650.56M | 497.53M | 456.68M | 377.9M | 306.02M | 243.07M | 198.99M | 160.78M | 134.28M | 112.18M | 78.64M | 54.34M |
| OpEx % of Revenue | - | 22.36% | 26.54% | 24.96% | 24.39% | 22.84% | 25.36% | 24.73% | 24.23% | 23.94% | 24.3% | 23.92% | 23.64% | 25.08% | 26.78% | 26.47% | 27.56% |
| Selling, General & Admin | 838.66M | 1.07B | 861.4M | 757.51M | 644.83M | 565.73M | 497.53M | 456.68M | 377.9M | 306.02M | 243.07M | 198.99M | 160.78M | 134.28M | 112.18M | 78.64M | 54.34M |
| SG&A % of Revenue | - | 22.36% | 22.22% | 21.28% | 20.96% | 19.86% | 25.36% | 24.73% | 24.23% | 23.94% | 24.3% | 23.92% | 23.64% | 25.08% | 26.78% | 26.47% | 27.56% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 3M | 0 | 167.45M | 130.75M | 105.62M | 84.83M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 560.79M | 457.4M | 323.82M | 385.57M | 345.04M | 379.88M | 154.8M | 217.28M | 187.18M | 157.39M | 113.96M | 92.94M | 77.02M | 53.74M | 37.65M | 26.22M | 11.8M |
| Operating Margin % | 11.04% | 9.6% | 8.35% | 10.83% | 11.22% | 13.34% | 7.89% | 11.77% | 12% | 12.31% | 11.39% | 11.17% | 11.32% | 10.04% | 8.99% | 8.83% | 5.99% |
| Operating Income Growth % | - | 41.25% | -16.02% | 11.75% | -9.17% | 145.4% | -28.76% | 16.08% | 18.93% | 38.11% | 22.62% | 20.68% | 43.32% | 42.71% | 43.6% | 122.14% | - |
| EBITDA | 757.48M | 649.52M | 491.26M | 516.32M | 450.66M | 464.71M | 224.15M | 272.26M | 228.63M | 190.63M | 140.59M | 115.17M | 94.22M | 67.21M | 47.25M | 33.29M | 16.61M |
| EBITDA Margin % | 14.91% | 13.63% | 12.67% | 14.51% | 14.65% | 16.32% | 11.42% | 14.74% | 14.66% | 14.91% | 14.05% | 13.84% | 13.85% | 12.55% | 11.28% | 11.21% | 8.42% |
| EBITDA Growth % | 46.99% | 32.21% | -4.85% | 14.57% | -3.02% | 107.32% | -17.67% | 19.08% | 19.94% | 35.59% | 22.08% | 22.24% | 40.19% | 42.23% | 41.94% | 100.45% | - |
| D&A (Non-Cash Add-back) | 196.68M | 192.12M | 167.45M | 130.75M | 105.62M | 84.83M | 69.34M | 54.98M | 41.45M | 33.24M | 26.63M | 22.23M | 17.2M | 13.47M | 9.6M | 7.07M | 4.8M |
| EBIT | 586.38M | 480.37M | 338.67M | 401.1M | 347.53M | 370.18M | 154.8M | 217.28M | 187.18M | 157.39M | 113.96M | 92.94M | 77.02M | 53.74M | 37.65M | 26.22M | 11.8M |
| Net Interest Income | 19.61M | 17M | 0 | 0 | 0 | -3.48M | -1.74M | 4.29M | 4.62M | 1.46M | 299K | 40K | -125K | -1.51M | -2.37M | 0 | -28K |
| Interest Income | 19.61M | 17M | 0 | 0 | 0 | 0 | 0 | 4.29M | 4.62M | 1.46M | 299K | 40K | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 3.48M | 1.74M | 0 | 0 | 0 | 0 | 0 | 125K | 1.51M | 2.37M | 0 | 28K |
| Other Income/Expense | 25.58M | 22.97M | 14.85M | 15.53M | 2.49M | -13.18M | -1.74M | 4.29M | 4.62M | 1.46M | 299K | -285K | -357K | -1.78M | -3.56M | 16K | -28K |
| Pretax Income | 586.38M | 480.37M | 338.67M | 401.1M | 347.53M | 366.7M | 153.07M | 221.57M | 191.81M | 158.85M | 114.26M | 92.66M | 76.66M | 51.96M | 34.09M | 26.24M | 11.78M |
| Pretax Margin % | 11.54% | 10.08% | 8.74% | 11.27% | 11.3% | 12.87% | 7.8% | 12% | 12.3% | 12.43% | 11.42% | 11.14% | 11.27% | 9.7% | 8.14% | 8.83% | 5.97% |
| Income Tax | 145.83M | 121.73M | 85.05M | 100M | 86.01M | 87.89M | 29.71M | 46.51M | 42.16M | 56.4M | 42.42M | 34.98M | 28.64M | 19.82M | 14.07M | 10.16M | 4.75M |
| Effective Tax Rate % | 24.87% | 25.34% | 25.11% | 24.93% | 24.75% | 23.97% | 19.41% | 20.99% | 21.98% | 35.5% | 37.13% | 37.75% | 37.35% | 38.14% | 41.27% | 38.72% | 40.36% |
| Net Income | 440.55M | 358.64M | 253.61M | 301.11M | 261.53M | 278.81M | 123.36M | 175.06M | 149.65M | 102.45M | 71.84M | 57.68M | 48.02M | 32.14M | 20.02M | 16.08M | 7.02M |
| Net Margin % | 8.67% | 7.53% | 6.54% | 8.46% | 8.5% | 9.79% | 6.29% | 9.48% | 9.6% | 8.02% | 7.18% | 6.93% | 7.06% | 6% | 4.78% | 5.41% | 3.56% |
| Net Income Growth % | 67.32% | 41.41% | -15.77% | 15.13% | -6.2% | 126.01% | -29.53% | 16.98% | 46.06% | 42.61% | 24.55% | 20.11% | 49.41% | 60.51% | 24.55% | 128.93% | - |
| Net Income (Continuing) | 440.55M | 358.64M | 253.61M | 301.11M | 261.53M | 278.81M | 123.36M | 175.06M | 149.65M | 102.45M | 71.84M | 57.68M | 48.02M | 32.14M | 20.02M | 16.08M | 7.02M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 7.92 | 6.46 | 4.60 | 5.41 | 4.69 | 4.95 | 2.20 | 3.12 | 2.66 | 1.84 | 1.30 | 1.05 | 0.88 | 0.59 | -1.28 | 0.00 | -0.02 |
| EPS Growth % | 66.04% | 40.43% | -14.97% | 15.35% | -5.25% | 125% | -29.49% | 17.29% | 44.57% | 41.54% | 23.81% | 19.32% | 49.15% | 146.09% | - | 106.79% | - |
| EPS (Basic) | - | 6.51 | 4.61 | 5.43 | 4.71 | 4.98 | 2.21 | 3.14 | 2.68 | 1.86 | 1.31 | 1.06 | 0.89 | 0.59 | -1.28 | 0.00 | -0.02 |
| Diluted Shares Outstanding | 55.61M | 55.6M | 55.16M | 55.62M | 55.75M | 56.3M | 56.06M | 56.17M | 56.22M | 55.56M | 55.13M | 54.79M | 54.57M | 53.74M | 35.44M | 50.26M | 50.26M |
| Basic Shares Outstanding | 55.26M | 55.18M | 55.05M | 55.49M | 55.55M | 56M | 55.82M | 55.82M | 55.76M | 55.21M | 54.85M | 54.51M | 54.22M | 53.29M | 35.44M | 50.26M | 50.26M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 496.63% | - | 2739.81% |
Supply chain tariff exposure
According to recent financial disclosures, FIVE achieved a 32.5% revenue growth rate in 2026Q1, marking a significant acceleration from the 4.0% growth observed in 2024Q4, suggesting that the company's aggressive unit expansion strategy is successfully capturing market share despite a challenging discretionary retail environment.
The sharp uptick in top-line growth appears to validate the company's ongoing geographic penetration and the successful integration of the 'Five Beyond' shop-in-shop concept. Investors should monitor whether this growth remains sustainable as the store base matures and potential market saturation in core Eastern regions begins to weigh on comparable store performance.
As reported in historical income statements, FIVE exhibits extreme gross margin volatility, ranging from 30.6% in 2024Q3 to 41.2% in 2023Q4, which underscores the company's heavy reliance on fourth-quarter holiday volume to offset the lower profitability inherent in its standard discount-oriented inventory mix.
The structural margin ceiling is clearly defined by the company's value-oriented price points, making the business highly sensitive to fluctuations in international freight and raw material costs. The recent expansion of the 'Five Beyond' initiative may indicate a strategic attempt to lift these margins by introducing higher-priced items, though this shift warrants further investigation regarding its impact on core customer loyalty.
Based on the provided income statement data, operating income reached $154.2 million in 2026Q1, demonstrating significant operating leverage as the company scales its footprint and improves overhead efficiency compared to the near-breakeven operating results reported in 2024Q3.
The ability to scale operating income faster than revenue suggests that management is successfully managing fixed occupancy costs across its 1,500+ store fleet. However, the persistence of retail 'shrink' and wage inflation may continue to act as a drag on operating margins, potentially limiting the degree of leverage achievable in the near term.
While recent figures show strong growth, the 194.7% EPS increase in 2026Q1, as noted in the company's filings, may be partially inflated by seasonal timing, raising questions about the long-term durability of the current earnings trajectory in the face of potential import tariff headwinds.
Short-term performance may be masking underlying risks related to the company's heavy reliance on trend-based inventory, which is notoriously difficult to forecast and prone to sudden markdowns. If the 'Five Beyond' strategy fails to resonate as a permanent fixture, the company could face a difficult transition period where it struggles to compete with larger, more diversified retailers on price alone.
Quick answers to the most common questions about buying FIVE stock.
For fiscal year 2025, Five Below, Inc. (FIVE) reported total revenue of $4.76B. This represents a 2316.0% increase compared to $197.2M in 2010.
Five Below, Inc. (FIVE) is profitable, generating $358.6M in net income for the fiscal year ending 2025 with a net profit margin of 7.5%.
Five Below, Inc. (FIVE) reported an operating income of $457.4M, resulting in an operating profit margin of 9.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Five Below, Inc. (FIVE) generated $1.52B in gross profit for the year, representing a gross profit margin of 32.0%. This demonstrates the company's core pricing power and production efficiency.