Interface (TILE) FY2024 results: revenue $1.3 billion, up 4.3% on the year

Interface Inc. (TILE) reported revenue of $1.3 billion for fiscal 2024, the year ended 29 December 2024, up 4.3% on the year before. Net income was $87 million, up 95.3%, and diluted earnings per share $1.48. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2025.

Revenue

$1.3 billion

+4.3% on the year

FY2017FY2024

Operating margin

10.2%

8.3% a year earlier

FY2017FY2024

Net income

$87 million

+95.3% on the year

FY2017FY2024

Diluted EPS

$1.48

+94.7% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,316	1,261	1,298	+4.3%
Cost of revenue	833	820	860	+1.5%
Gross profit	483	441	438	+9.5%
Gross margin	36.7%	35.0%	33.7%
Research and development	15.1	17.0	19.1	-11.2%
Selling, general and administrative	349	339	324	+2.8%
Operating income	134	105	75.4	+28.6%
Operating margin	10.2%	8.3%	5.8%
Interest expense	23.2	31.8	29.9	-27.0%
Pre-tax income	114	63.7	41.9	+78.4%
Income tax	26.6	19.1	22.4	+39.0%
Effective tax rate	23.4%	30.1%	53.3%
Net income	86.9	44.5	19.6	+95.3%
Net margin	6.6%	3.5%	1.5%
Diluted EPS	$1.48	$0.76	$0.33	+94.7%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	148	142	43.1	+4.5%
Capital expenditure	33.8	26.1	18.4	+29.4%
Free cash flow	115	116	24.6	-1.1%
Free cash flow margin	8.7%	9.2%	1.9%
Cash from investing	-30.4	-19.5	-18.4
Cash from financing	-125	-112	-19.5
Depreciation and amortisation	39.3	40.8	40.3	-3.5%
Share-based compensation	12.9	10.3	8.5	+25.7%
Buybacks	0.0	0.0	17.2
Dividends paid	2.3	2.3	2.4	+0.6%
Dividend per share	$0.04	$0.04	$0.04	0.0%
Diluted shares, weighted	59m	58m	59m	+0.9%
Shares outstanding at period end	58m	58m	58m	+0.3%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	489	426	362	+14.8%
Debt	303	417	520	-27.4%
Operating lease liabilities	68.1	78.3	72.3	-13.0%
Finance lease liabilities	5.8	5.0	4.1	+15.1%
Other liabilities	305	304	308	+0.5%
Total liabilities and equity	1,171	1,230	1,267	-4.8%
Goodwill	99.9	105	102	-5.3%
Intangible assets	48.3	56.3	59.8	-14.2%
Investments	0.0	0.0	0.0
Cash and equivalents	99.2	110	97.6	-10.2%
Receivables	171	163	183	+4.7%
Inventory	261	279	306	-6.6%
Other assets	492	515	518	-4.6%
Total assets	1,171	1,230	1,267	-4.8%

10-K for the year ended 29 December 2024, filed 26 February 2025: the filing.