INTERFACE INC

Listed Company

TILECIK 0000715787NasdaqLarge AcceleratedCarpets & RugsGeorgiaFY ends Jan 3

Period

FY 2025

Revenue

$1.39B

Net Income

$116.10M

Total Assets

$1.21B

Equity

$640.67M

Shares Out

57.96M

Op. Cash Flow

$167.91M

Business

INTERFACE INC is a global flooring solutions company and sustainability leader that designs, manufactures and sells modular carpet and resilient flooring for commercial and residential interiors. It offers carpet tile and luxury vinyl tile (LVT), nora rubber flooring, FLOR area rugs, installation systems (TacTiles), adhesives, and turnkey project management through InterfaceSERVICES. The company operates two reportable segments—Americas (AMS) and Europe, Africa, Asia and Australia (EAAA)—which sell the same product lines within their regions. Products are distributed directly to end users and indirectly through installers, distributors and showrooms worldwide.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	1,387	1,316	1,261	1,298	1,200
Cost of sales	849	833	820	860	768
Gross profit	537	483	441	438	433
Selling, general and administrative expenses	373	349	339	324	324
Restructuring, asset impairment, other (gains) and charges	0	0	−3	2	4
Operating income	164	134	105	75	105
Interest expense	20	23	32	30	30
Other expense (income), net	8	−2	9	4	2
Income before income tax expense	137	114	64	42	73
Income Tax Expense (Benefit)	21	27	19	22	17
Net income	116	87	45	20	55
Earnings per share basic (in dollars per share)	1.99	1.49	0.77	0.33	0.94
Earnings per share diluted (in dollars per share)	1.96	1.48	0.76	0.33	0.94
Common shares outstanding basic (in shares)	58	58	58	59	59
Common shares outstanding diluted (in shares)	59	59	58	59	59

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	71	99	110	98	97
Accounts receivable, net	174	171	163	183	172
Inventories, net	275	261	279	306	265
Prepaid expenses and other current assets	34	33	31	30	38
Total current assets	555	564	584	617	572
Property, plant and equipment, net	309	282	291	298	330
Operating lease right-of-use assets	78	77	88	82	91
Deferred tax assets	25	25	22	18	24
Goodwill	112	100	105	102	147
Intangible assets, net	51	48	56	60	—
Other assets	76	75	84	90	90
Total assets	1,207	1,171	1,230	1,267	1,330
Accounts payable	65	69	63	78	86
Accrued expenses	148	135	131	120	146
Current portion of operating lease liabilities	16	12	12	12	15
Current portion of long-term debt	9	482,000	9	10	15
Total current liabilities	237	217	215	220	262
Long-term debt	173	302	409	510	503
Operating lease liabilities	67	68	78	72	78
Deferred income taxes	23	32	34	39	37
Other long-term liabilities	65	63	69	64	87
Total liabilities	566	682	804	905	967
Commitments and contingencies (Note 17)	—	—	—	—	—
Preferred stock, par value $1.00 per share; $5,000 shares authorized; none issued or outstanding at December 28, 2025 and December 29, 2024	0	0	0	0	0
Common stock, par value $0.10 per share; 120,000 shares authorized; 57,891 and 58,304 shares issued and outstanding at December 28, 2025 and December 29, 2024, respectively	6	6	6	6	6
Additional paid-in capital	249	261	253	244	253
Retained earnings	518	405	321	279	261
Accumulated other comprehensive loss foreign currency translation	−93	−143	−120	−139	−100
Accumulated other comprehensive loss pension liability	−39	−40	−34	−28	−54
Total shareholders equity	641	489	426	362	363
Total liabilities and shareholders equity	1,207	1,171	1,230	1,267	1,330

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	39	39	41	40	46
Share-based compensation expense	14	13	10	9	5
Loss (gain) on disposal of property, plant and equipment, net	0	264,000	−2	4	4
Loss on foreign subsidiary liquidation	0	2	6	0	0
Bad debt expense	1	1	53,000	26,000	−263,000
Deferred income taxes	−13	−3	−10	10	−16
Other	−5	−8	1	3	−16
Amortization of acquired intangible assets	3	5	5	5	6
Loss on debt extinguishment	2	0	0	—	—
Accounts receivable	5	−14	22	−17	−36
Inventories	2	10	31	−50	−47
Prepaid expenses and other current assets	590,000	−3	−302,000	7	−5
Accounts payable and accrued expenses	2	18	−6	−24	74
Cash provided by operating activities	168	148	142	43	87
Capital expenditures	−46	−34	−26	−18	−28
Proceeds from sale of property, plant and equipment	0	1	7	0	0
Cash used in investing activities	−46	−30	−20	−18	−28
Term loan borrowings	170	0	0	—	—
Revolving loan borrowings	42	34	90	206	76
Revolving loan repayments	−36	−34	−114	−189	−72
Senior notes repayment	−300	0	0	—	—
Term loan repayments	−390,000	−115	−81	−13	−60
Repurchase of common stock	−18	0	0	−17	0
Dividends paid	−4	−2	−2	−2	−2
Tax withholding payments for share-based compensation	−8	−5	−2	−402,000	−193,000
Payments for debt extinguishment costs	−620,000	0	0	0	0
Debt issuance costs	−1	0	0	−1	−36,000
Finance lease payments	−3	−3	−2	−2	−2
Cash used in financing activities	−159	−125	−112	−19	−61
Net cash (used in) provided by operating, investing and financing activities	−38	−7	11	5	−2
Effect of exchange rate changes on cash	10	−4	2	−5	−4
Net (decrease) increase	−28	−11	13	312,000	−6
Proceeds from Insurance Settlement, Investing Activities	0	2	0	0	—

Filings

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