Mohawk Industries, Inc. (MHK) 10-Year Financial Performance & Capital Metrics

MHK • • Industrial / General

Consumer CyclicalHome FurnishingsFlooring & Surface ProductsHard Surface Flooring

AboutMohawk Industries, Inc. designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces in the United States, Europe, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW). The Global Ceramic segment provides a range of ceramic tile, porcelain tile, and natural stone products; and sources, markets, and distributes other tile related products. This segment markets and distributes its products under the American Olean, Daltile, Eliane, EmilGroup, KAI, Kerama Marazzi, Marazzi, and Ragno brands. The Flooring NA segment offers floor covering product lines in a range of colors, textures, and patterns, including carpets, carpet tiles, rugs and mats, carpet pads, hardwood, laminate, medium-density fiberboards, luxury vinyl tiles (LVT), and sheet vinyl products. This segment markets and distributes its flooring products under the Aladdin Commercial, Durkan, IVC, Karastan, Mohawk, Mohawk Group, Mohawk Home, Pergo, Portico, and Quick-Step brands. The Flooring ROW segment provides wood flooring and vinyl flooring, as well as laminates, roofing elements, sheet vinyl, LVT, insulation boards, medium-density fiberboards, chipboards, and other woods products under the Feltex, Godfrey Hirst, Hycraft, IVC Commercial, IVC Home, Leoline, Moduleo, Pergo, Quick-Step, and Unilin and Xtratherm brands; and licenses its intellectual property to flooring manufacturers. Mohawk Industries, Inc. was incorporated in 1988 and is headquartered in Calhoun, Georgia.Show more

Revenue $10.84B -2.7%
EBITDA $1.33B +289.2%
Net Income $518M +217.8%
EPS (Diluted) 8.14 +218.0%
Gross Margin 24.8% +1.9%
EBITDA Margin 12.3% +299.9%
Operating Margin 6.41% +348.0%
Net Margin 4.78% +221.0%
ROE 6.82% +221.4%
ROIC 5.3% +356.2%
Debt/Equity 0.35 -15.8%
Interest Coverage 14.32 +485.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 9/9
✓High quality earnings: Operating CF exceeds net income
✓Trading at only 1.0x book value

✗Weaknesses

✗Weak 3Y average ROE of 0.5%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y3.34%

5Y1.68%

3Y-1.09%

TTM-0.82%

Profit (Net Income) CAGR

10Y-0.27%

5Y-7%

3Y-20.57%

TTM-25.32%

EPS CAGR

10Y1.16%

5Y-4.6%

3Y-18.32%

TTM-24.09%

ROCE

10Y Avg8.97%

5Y Avg4.68%

3Y Avg2.09%

Latest6.77%

Peer Comparison

Hard Surface Flooring

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MHKMohawk Industries, Inc.	7.65B	123.68	15.19	-2.68%	3.93%	5.05%	8.89%	0.35
NCLNorthann Corp.	4.62M	0.20	-1.19	9.86%	-135.65%	-9.56%		2.56

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	8.07B	8.96B	9.49B	9.98B	9.97B	9.55B	11.2B	11.74B	11.14B	10.84B
Revenue Growth %	0.03%	0.11%	0.06%	0.05%	-0%	-0.04%	0.17%	0.05%	-0.05%	-0.03%
Cost of Goods Sold+	5.66B	6.15B	6.49B	7.15B	7.29B	7.12B	7.93B	8.79B	8.43B	8.15B
COGS % of Revenue	0.7%	0.69%	0.68%	0.72%	0.73%	0.75%	0.71%	0.75%	0.76%	0.75%
Gross Profit+	2.41B	2.81B	3B	2.84B	2.68B	2.43B	3.27B	2.94B	2.71B	2.69B
Gross Margin %	0.3%	0.31%	0.32%	0.28%	0.27%	0.25%	0.29%	0.25%	0.24%	0.25%
Gross Profit Growth %	0.12%	0.17%	0.07%	-0.05%	-0.06%	-0.09%	0.34%	-0.1%	-0.08%	-0.01%
Operating Expenses+	1.57B	1.53B	1.64B	1.74B	1.85B	1.79B	1.93B	2.7B	3B	1.99B
OpEx % of Revenue	0.19%	0.17%	0.17%	0.17%	0.19%	0.19%	0.17%	0.23%	0.27%	0.18%
Selling, General & Admin	1.57B	1.53B	1.64B	1.74B	1.85B	1.79B	1.93B	2B	2.12B	1.96B
SG&A % of Revenue	0.19%	0.17%	0.17%	0.17%	0.19%	0.19%	0.17%	0.17%	0.19%	0.18%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	695.8M	877.7M	32.5M
Operating Income+	837.57M	1.28B	1.35B	1.1B	827.22M	636M	1.34B	244.2M	-287.8M	694.7M
Operating Margin %	0.1%	0.14%	0.14%	0.11%	0.08%	0.07%	0.12%	0.02%	-0.03%	0.06%
Operating Income Growth %	0.08%	0.53%	0.06%	-0.19%	-0.24%	-0.23%	1.1%	-0.82%	-2.18%	3.41%
EBITDA+	1.2B	1.69B	1.8B	1.62B	1.4B	1.24B	1.93B	839.7M	342.5M	1.33B
EBITDA Margin %	0.15%	0.19%	0.19%	0.16%	0.14%	0.13%	0.17%	0.07%	0.03%	0.12%
EBITDA Growth %	0.07%	0.41%	0.07%	-0.1%	-0.13%	-0.11%	0.55%	-0.56%	-0.59%	2.89%
D&A (Non-Cash Add-back)	362.65M	409.47M	446.67M	521.76M	576.45M	607.51M	591.71M	595.5M	630.3M	638.3M
EBIT	819.95M	1.28B	1.35B	1.09B	790.82M	636.75M	1.35B	235.8M	-277M	694.5M
Net Interest Income+	-71.09M	-40.55M	-31.11M	-38.83M	-41.27M	-52.38M	-57.25M	-51.9M	-77.5M	-48.5M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	71.09M	40.55M	31.11M	38.83M	41.27M	52.38M	57.25M	51.9M	77.51M	48.5M
Other Income/Expense	-88.7M	-38.82M	-36.32M	-46.13M	-77.68M	-51.63M	-45.02M	-60.3M	-66.7M	-48.7M
Pretax Income+	748.86M	1.24B	1.32B	1.05B	749.54M	584.37M	1.29B	183.9M	-354.5M	646M
Pretax Margin %	0.09%	0.14%	0.14%	0.11%	0.08%	0.06%	0.12%	0.02%	-0.03%	0.06%
Income Tax+	131.88M	307.56M	343.17M	184.35M	4.97M	68.65M	256.44M	158.11M	84.86M	128.2M
Effective Tax Rate %	0.82%	0.75%	0.74%	0.82%	0.99%	0.88%	0.8%	0.14%	1.24%	0.8%
Net Income+	615.3M	930.36M	971.64M	861.7M	744.21M	515.6M	1.03B	25.25M	-439.52M	517.7M
Net Margin %	0.08%	0.1%	0.1%	0.09%	0.07%	0.05%	0.09%	0%	-0.04%	0.05%
Net Income Growth %	0.16%	0.51%	0.04%	-0.11%	-0.14%	-0.31%	1%	-0.98%	-18.41%	2.18%
Net Income (Continuing)	616.99M	933.57M	974.69M	864.86M	744.57M	515.73M	1.03B	25.78M	-439.37M	517.8M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	6.69M	7.04M	7.85M	6.25M	6.61M	6.84M	6.79M	6.41M	6M	5.5M
EPS (Diluted)+	8.31	12.48	12.98	11.52	10.30	7.22	14.94	0.39	-6.90	8.14
EPS Growth %	0.15%	0.5%	0.04%	-0.11%	-0.11%	-0.3%	1.07%	-0.97%	-18.69%	2.18%
EPS (Basic)	8.37	12.55	13.07	11.58	10.34	7.24	15.01	0.40	-6.90	8.18
Diluted Shares Outstanding	74.04M	74.57M	74.84M	74.77M	72.26M	71.4M	69.14M	64.06M	63.66M	63.6M
Basic Shares Outstanding	73.52M	74.1M	74.36M	74.41M	71.99M	71.21M	68.85M	63.83M	63.66M	63.3M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	3.25B	3.47B	4.07B	4.51B	4.43B	5.36B	5.24B	5.9B	5.6B	5.5B
Cash & Short-Term Investments	81.69M	121.67M	84.88M	119.05M	177.28M	1.34B	591.89M	667.62M	642.6M	666.6M
Cash Only	81.69M	121.67M	84.88M	119.05M	134.78M	768.63M	268.89M	509.62M	642.6M	666.6M
Short-Term Investments	0	0	0	0	42.5M	571.74M	323M	158M	0	0
Accounts Receivable	1.26B	1.38B	1.56B	1.61B	1.53B	1.71B	1.84B	1.9B	1.87B	1.8B
Days Sales Outstanding	56.87	56.07	59.92	58.72	55.89	65.32	59.96	59.23	61.45	60.77
Inventory	1.61B	1.68B	1.95B	2.29B	2.28B	1.91B	2.39B	2.79B	2.55B	2.51B
Days Inventory Outstanding	103.63	99.52	109.51	116.85	114.2	98.05	110.06	115.96	110.55	112.58
Other Current Assets	44.89M	30.22M	104.42M	74.92M	27.68M	31.34M	20.16M	30.7M	19.3M	22.3M
Total Non-Current Assets+	6.68B	6.76B	8.02B	8.59B	8.96B	8.96B	8.99B	8.23B	7.96B	7.28B
Property, Plant & Equipment	3.15B	3.37B	4.27B	4.7B	5.02B	4.91B	5.03B	5.05B	5.42B	4.95B
Fixed Asset Turnover	2.56x	2.66x	2.22x	2.12x	1.99x	1.94x	2.23x	2.32x	2.05x	2.19x
Goodwill	2.29B	2.27B	2.47B	2.52B	2.57B	2.65B	2.61B	1.93B	1.16B	1.11B
Intangible Assets	936.54M	834.61M	891.77M	961.81M	928.88M	951.61M	899.98M	857.95M	875.3M	791.9M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	0	0	0	0	0	0	0	0	0	0
Total Assets+	9.93B	10.23B	12.09B	13.1B	13.39B	14.33B	14.22B	14.12B	13.56B	12.78B
Asset Turnover	0.81x	0.88x	0.78x	0.76x	0.74x	0.67x	0.79x	0.83x	0.82x	0.85x
Asset Growth %	0.2%	0.03%	0.18%	0.08%	0.02%	0.07%	-0.01%	-0.01%	-0.04%	-0.06%
Total Current Liabilities+	3.26B	2.72B	2.66B	3.27B	2.71B	2.37B	2.95B	3.07B	3.15B	2.67B
Accounts Payable	696.97M	729.41M	810.03M	811.88M	824.96M	1.02B	1.23B	1.09B	1.04B	978.5M
Days Payables Outstanding	44.94	43.32	45.52	41.47	41.28	52.12	56.54	45.41	44.97	43.83
Short-Term Debt	2B	1.38B	1.2B	1.74B	1.05B	377.25M	624.5M	840.57M	1B	559.4M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	181.02M	193.21M	207.44M	197.51M	192.99M	222.24M	256.43M	980.45M	937.4M	976.3M
Current Ratio	1.00x	1.28x	1.53x	1.38x	1.63x	2.26x	1.78x	1.92x	1.78x	2.06x
Quick Ratio	0.50x	0.66x	0.80x	0.68x	0.79x	1.46x	0.97x	1.01x	0.97x	1.12x
Cash Conversion Cycle	115.56	112.26	123.91	134.1	128.81	111.25	113.48	129.79	127.03	129.52
Total Non-Current Liabilities+	1.81B	1.73B	2.37B	2.39B	2.55B	3.42B	2.85B	3.03B	2.78B	2.55B
Long-Term Debt	1.19B	1.13B	1.56B	1.52B	1.52B	2.36B	1.7B	1.98B	1.7B	1.68B
Capital Lease Obligations	0	0	0	0	228.16M	234.73M	297.39M	296.14M	337.5M	283M
Deferred Tax Liabilities	388.13M	361.42M	328.1M	413.74M	473.89M	493.67M	495.52M	444.66M	391.5M	255.2M
Other Non-Current Liabilities	237.41M	238.63M	484.49M	463.48M	327.22M	330.06M	356.75M	312.87M	354M	333.8M
Total Liabilities	5.07B	4.45B	5.03B	5.66B	5.26B	5.79B	5.8B	6.1B	5.93B	5.22B
Total Debt+	3.19B	2.51B	2.76B	3.26B	2.9B	3.07B	2.73B	3.22B	3.15B	2.63B
Net Debt	3.11B	2.39B	2.68B	3.14B	2.77B	2.3B	2.46B	2.71B	2.51B	1.96B
Debt / Equity	0.66x	0.43x	0.39x	0.44x	0.36x	0.36x	0.32x	0.40x	0.41x	0.35x
Debt / EBITDA	2.66x	1.49x	1.53x	2.01x	2.07x	2.47x	1.42x	3.84x	9.20x	1.97x
Net Debt / EBITDA	2.59x	1.41x	1.49x	1.94x	1.97x	1.85x	1.28x	3.23x	7.32x	1.47x
Interest Coverage	11.78x	31.57x	43.53x	28.21x	20.04x	12.14x	23.32x	4.71x	-3.71x	14.32x
Total Equity+	4.86B	5.78B	7.07B	7.44B	8.13B	8.54B	8.43B	8.02B	7.63B	7.56B
Equity Growth %	0.1%	0.19%	0.22%	0.05%	0.09%	0.05%	-0.01%	-0.05%	-0.05%	-0.01%
Book Value per Share	65.65	77.56	94.43	99.50	112.45	119.62	121.89	125.16	119.85	118.82
Total Shareholders' Equity	4.85B	5.78B	7.06B	7.43B	8.12B	8.53B	8.42B	8.01B	7.62B	7.55B
Common Stock	813K	815K	818K	797K	790K	776K	729K	709K	700K	700K
Retained Earnings	4.1B	5.03B	6B	6.59B	7.23B	7.56B	7.69B	7.41B	6.97B	7.33B
Treasury Stock	-215.79M	-215.79M	-215.77M	-215.75M	-215.71M	-215.65M	-215.55M	-215.49M	-215.3M	-215.3M
Accumulated OCI	-793.57M	-833.03M	-558.53M	-791.61M	-765.82M	-695.14M	-966.95M	-1.11B	-1.08B	-1.53B
Minority Interest	6.69M	7.04M	7.85M	6.25M	6.61M	6.84M	6.79M	6.41M	6M	5.5M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	911.87M	1.33B	1.19B	1.18B	1.42B	1.77B	1.31B	669.15M	1.32B	1.13B
Operating CF Margin %	0.11%	0.15%	0.13%	0.12%	0.14%	0.19%	0.12%	0.06%	0.12%	0.1%
Operating CF Growth %	0.38%	0.46%	-0.1%	-0.01%	0.2%	0.25%	-0.26%	-0.49%	0.98%	-0.14%
Net Income	615.11M	930.24M	971.59M	857.81M	744.21M	515.6M	1.03B	25.25M	-439.52M	517.7M
Depreciation & Amortization	362.65M	409.47M	446.67M	577.35M	618.27M	789.61M	649.78M	647.86M	808.93M	815.8M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	-28.88M	-34.01M	-75.59M	88.46M	-107.84M	22.32M	-4.93M	-51.1M	-109.95M	-58.2M
Other Non-Cash Items	70.52M	128.69M	80.81M	41.62M	134.02M	-52.28M	-15.78M	714.73M	797.25M	53.7M
Working Capital Changes	-107.52M	-106.83M	-229.89M	-383.9M	30.11M	494.59M	-353.11M	-667.59M	266.91M	-195.1M
Change in Receivables	-14.38M	-158.89M	-60.57M	13.86M	81.95M	-54.98M	-207.05M	-84.38M	150.55M	-49.2M
Change in Inventory	6.4M	-81.92M	-153.25M	-255.39M	7.21M	357.52M	-519.23M	-409.6M	281.28M	-79.1M
Change in Payables	783K	80.88M	25.36M	-69.85M	-52.06M	255.47M	360.79M	-94.14M	-194.01M	43.8M
Cash from Investing+	-1.87B	-672.13M	-1.24B	-1.37B	-616.04M	-954.8M	-556.75M	-625.34M	-970.34M	-454.4M
Capital Expenditures	-503.66M	-672.13M	-906M	-794.11M	-545.46M	-425.56M	-676.12M	-580.74M	-612.93M	-454.4M
CapEx % of Revenue	0.06%	0.08%	0.1%	0.08%	0.05%	0.04%	0.06%	0.05%	0.06%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0	0	0	0	0
Cash from Financing+	964.08M	-623.9M	-7M	232.97M	-789.88M	-188.19M	-1.23B	194.35M	-205.09M	-629.5M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-2.05M	-1.75M	-13.9M	-9.93M	-8.78M	-3.54M	-11.66M	-23.45M	-39.08M	-24.2M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	408.22M	655.43M	287.6M	387.23M	873.3M	1.34B	633M	88.41M	710.71M	679.5M
FCF Margin %	0.05%	0.07%	0.03%	0.04%	0.09%	0.14%	0.06%	0.01%	0.06%	0.06%
FCF Growth %	3.07%	0.61%	-0.56%	0.35%	1.26%	0.54%	-0.53%	-0.86%	7.04%	-0.04%
FCF per Share	5.51	8.79	3.84	5.18	12.08	18.83	9.15	1.38	11.16	10.68
FCF Conversion (FCF/Net Income)	1.48x	1.43x	1.23x	1.37x	1.91x	3.43x	1.27x	26.50x	-3.01x	2.19x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	137.5M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	13.26%	17.48%	15.12%	11.88%	9.56%	6.19%	12.18%	0.31%	-5.62%	6.82%
Return on Invested Capital (ROIC)	8.63%	11.89%	11.34%	8.08%	5.78%	4.39%	9.22%	1.69%	-2.07%	5.3%
Gross Margin	29.87%	31.4%	31.57%	28.43%	26.84%	25.45%	29.18%	25.08%	24.33%	24.8%
Net Margin	7.62%	10.38%	10.24%	8.63%	7.46%	5.4%	9.22%	0.22%	-3.95%	4.78%
Debt / Equity	0.66x	0.43x	0.39x	0.44x	0.36x	0.36x	0.32x	0.40x	0.41x	0.35x
Interest Coverage	11.78x	31.57x	43.53x	28.21x	20.04x	12.14x	23.32x	4.71x	-3.71x	14.32x
FCF Conversion	1.48x	1.43x	1.23x	1.37x	1.91x	3.43x	1.27x	26.50x	-3.01x	2.19x
Revenue Growth	3.44%	11%	5.94%	5.19%	-0.13%	-4.2%	17.26%	4.79%	-5.13%	-2.68%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Global Ceramic	3.01B	3.17B	3.41B	3.62B	3.69B	3.46B	3.94B	4.32B	4.29B	4.19B
Global Ceramic Growth	-	5.37%	7.26%	6.35%	1.81%	-6.22%	13.93%	9.69%	-0.63%	-2.51%
Carpet And Resilient	-	-	-	3.9B	3.92B	3.74B	4.29B	4.24B	3.96B	3.87B
Carpet And Resilient Growth	-	-	-	-	0.46%	-4.74%	14.94%	-1.36%	-6.62%	-2.25%
Laminate and Wood	-	-	-	1.55B	1.5B	1.54B	1.85B	1.96B	1.73B	1.73B
Laminate and Wood Growth	-	-	-	-	-3.35%	2.52%	20.39%	6.03%	-11.80%	-0.21%
Flooring NA	3.6B	3.87B	4.01B	-	-	-	-	-	-	-
Flooring NA Growth	-	7.32%	3.75%	-	-	-	-	-	-	-
Flooring ROW	1.46B	1.92B	2.08B	-	-	-	-	-	-	-
Flooring ROW Growth	-	31.69%	8.17%	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	-	-	-	6.1B	5.82B	5.53B	6.18B	6.49B	6.04B	5.94B
UNITED STATES Growth	-	-	-	-	-4.61%	-5.02%	11.78%	4.99%	-6.93%	-1.66%
Europe	-	-	-	2.58B	2.53B	2.49B	3.12B	3.15B	3.38B	3.19B
Europe Growth	-	-	-	-	-1.95%	-1.80%	25.38%	1.10%	7.26%	-5.52%
Latin America	-	-	-	-	-	-	-	-	767.77M	750.5M
Latin America Growth	-	-	-	-	-	-	-	-	-	-2.25%
RUSSIAN FEDERATION	-	-	-	349.22M	385.39M	385.83M	450.01M	549.6M	-	-
RUSSIAN FEDERATION Growth	-	-	-	-	10.36%	0.11%	16.63%	22.13%	-	-
North America	5.4B	5.84B	6.01B	-	-	-	-	-	-	-
North America Growth	-	8.21%	2.85%	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Mohawk Industries, Inc. (MHK) has a price-to-earnings (P/E) ratio of 15.2x. This is roughly in line with market averages.

Growth & Financials

Mohawk Industries, Inc. (MHK) reported $10.72B in revenue for fiscal year 2024. This represents a 90% increase from $5.64B in 2011.

Mohawk Industries, Inc. (MHK) saw revenue decline by 2.7% over the past year.

Yes, Mohawk Industries, Inc. (MHK) is profitable, generating $421.1M in net income for fiscal year 2024 (4.8% net margin).

Dividend & Returns

Mohawk Industries, Inc. (MHK) has a return on equity (ROE) of 6.8%. This is below average, suggesting room for improvement.

Mohawk Industries, Inc. (MHK) generated $587.2M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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