Five Below FIVE

Nasdaq · Retail-Variety Stores · $13.9B

$241.26−4.27%Nov 5 close · Databento

Every report since 2022 →

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FIVE Wire Story Reactions & EOD Technical StudyDaily closes (Databento EOD) pinned with every AlgoThesis Wire story (dot colour = next trading day close) and SEC filing

Nov 5, 2026CLOSE $241.261D −4.27%3M +2.51%SMA20 $228.99SMA50 $231.39RSI(14) 57.5

241.26

RSI (14, Wilder EOD) · 70 Overbought / 30 OversoldRSI 57.5

Data provided by Databento (end of day). Next close = the first close after a story against the close before it; official daily closes only, not a call, not advice.

1 story has a settled next close so far (1 on the Wire). The record starts speaking at three.

The numbers

fiscal 2026, as filed with the SEC · 66-metric EOD snapshot via Databento

Market cap$13.9B

EV / True FCF35.0x

Revenue$4.8B +22.9%

True FCF (ex-SBC)$377.0M +286.0%

Rule of 4031.5%

ROIC23.2%

True FCF Yield2.7%

EPS, diluted$6.47 +40.7%

Modern Valuation (EOD)

Market Cap$13.9B

Enterprise Value$13.2B

EV / True FCF35.04

EV / FCF32.09

EV / Gross Profit—

EV / EBIT28.88

EV / Sales2.77

P / E (GAAP)38.86

P / FCF33.85

P / Oper. CF23.76

P / Book6.35

Owner & Cash Yields

True FCF Yield2.7%

FCF Yield3.0%

Owner Earn. Yield2.4%

Earnings Yield2.6%

Shareholder Yield−0.2%

Buyback Yield0.0%

Dividend Yield—

Dividend / sh$0.00

Payout Ratio0%

FCF / sh$7.48

EPS (diluted)$6.47

Compounder & Returns

Rule of 4031.5%

ROIC23.2%

Cash ROIC (CROIC)28.0%

GP / Assets—

ROE16.3%

ROA7.3%

Gross Margin—

Oper. Margin9.6%

Net Margin7.5%

FCF Margin8.6%

True FCF Margin7.9%

Quality & Dilution

Cash Conversion115%

Accrual Ratio−4.6%

SBC % of FCF8.4%

SBC % of Rev0.7%

Reinvest. Rate30%

Sales Growth Y/Y+22.9%

Sales 3Y CAGR+15.7%

EPS Growth Y/Y+40.7%

FCF Growth Y/Y+286.0%

FCF 3Y CAGR+87.0%

Share Change Y/Y+0.5%

Balance Sheet & Scale

Revenue (FY)$4.8B

Gross Profit (FY)—

Oper. Income (FY)$457.4M

GAAP Net Income$358.6M

True FCF (ex-SBC)$377.0M

Cash & Equiv$723.7M

Total Debt—

Net Cash (Debt)$723.7M

Net Cash % MCap+5.2%

Debt / FCF (yrs)0.0y

Current Ratio2.0155.05M sh

Price & Technicals (EOD)

Perf Week−1.73%

Perf Month+18.13%

Perf Quarter−1.27%

Perf Half Y+9.04%

Perf YTD−2.60%

SMA 20 Dist+5.36%$228.99

SMA 50 Dist+4.26%$231.39

SMA 100 Dist+9.21%$220.91

Window High−8.17%$262.72

Window Low+36.89%$176.25

RSI (14) · Vol57.538%v

Income Distribution & Cash Flow ConversionHow every dollar of FIVE revenue flows through cost of goods, operating expenses, taxes, GAAP net income, and dilution-adjusted free cash flow

Where Every $100 of Revenue Goes (FY2026)

Cost of Revenue (COGS)$3.0B ($64.0 / $100)

SG&A & Other OpEx$1.3B ($26.4 / $100)

Tax & Non-Operating$98.8M ($2.1 / $100)

Net Profit Kept$358.6M ($7.5 / $100)

Earnings Quality: GAAP Profit → True Owner Cash (FY2026)

GAAP Net Income$358.6M (7.5% margin)

Operating Cash Flow (OCF)$586.4M(12.3% of rev)

Less: Capital Expenditures−$174.7M(3.7% of rev)

Standard Free Cash Flow (FCF)$411.7M(8.6% margin)

Less: Stock-Based Comp (SBC)−$34.7M(8.4% of FCF)

True FCF (Owner Cash ex-SBC)$377.0M(7.9% of rev)

Revenue by fiscal year

Operating leverage — margins

GrossOperatingNet

Line Item (USD)	FY2022	FY2023	FY2024	FY2025	FY2026	YoY Δ	4Y CAGR
Income Statement
Revenue	$2.8B	$3.1B	$3.6B	$3.9B	$4.8B	+22.9%	+13.7%
Cost of Revenue (COGS)	$1.8B	$2.0B	$2.3B	$2.5B	$3.0B	+20.8%	+13.8%
Gross Profit	$1.0B	$1.1B	—	—	—	—	+6.3%
Selling, General & Admin (SG&A)	$565.7M	$644.8M	$757.5M	$861.4M	$1.1B	+23.7%	+17.1%
Total Operating Expenses	$650.6M	$750.4M	—	—	—	—	+15.4%
Operating Income (EBIT)	$379.9M	$345.0M	$385.6M	$323.8M	$457.4M	+41.3%	+4.8%
Income Tax Expense	$87.9M	$86.0M	$100.0M	$85.1M	$121.7M	+43.1%	+8.5%
GAAP Net Income	$278.8M	$261.5M	$301.0M	$253.6M	$358.6M	+41.4%	+6.5%
Diluted EPS	$4.95	$4.69	$5.41	$4.60	$6.47	+40.7%	+6.9%
Diluted Shares	56.3M	55.7M	55.6M	55.2M	55.4M	+0.5%	−0.4%
Balance Sheet
Cash & Equivalents	$65.0M	$332.3M	$179.7M	$331.7M	$723.7M	+118.2%	+82.7%
Inventory	$455.1M	$527.7M	$584.6M	$659.5M	$846.6M	+28.4%	+16.8%
Total Current Assets	$904.7M	$1.1B	$1.2B	$1.4B	$1.9B	+41.8%	+20.6%
Total Assets	$2.9B	$3.3B	$3.9B	$4.3B	$4.9B	+13.8%	+14.4%
Total Current Liabilities	$586.9M	$602.6M	$715.9M	$756.4M	$954.0M	+26.1%	+12.9%
Total Debt (Short + Long Term)	$0	$0	$0	$0	$0	—	—
Total Liabilities	$1.8B	$2.0B	$2.3B	$2.5B	$2.7B	+8.4%	+11.7%
Stockholders' Equity	$1.1B	$1.4B	$1.6B	$1.8B	$2.2B	+21.3%	+18.3%
Net Cash / (Net Debt)	$65.0M	$332.3M	$179.7M	$331.7M	$723.7M	+118.2%	+82.7%
Invested Capital	$1.1B	$1.0B	$1.4B	$1.5B	$1.5B	−0.5%	+8.6%
Cash Flow & Capital Allocation
Operating Cash Flow (OCF)	$327.9M	$314.9M	$499.6M	$430.6M	$586.4M	+36.2%	+15.6%
Depreciation & Amortization (D&A)	$84.8M	$105.6M	$130.7M	$167.4M	$192.1M	+14.7%	+22.7%
Stock-Based Compensation (SBC)	$25.8M	$23.6M	$17.9M	$15.6M	$34.7M	+122.5%	+7.7%
Capital Expenditures (CapEx)	$288.2M	$252.0M	$335.1M	$324.0M	$174.7M	−46.1%	−11.8%
Free Cash Flow (FCF)	$39.7M	$63.0M	$164.6M	$106.7M	$411.7M	+286.0%	+79.4%
True FCF (ex-SBC Owner Cash)	$14.0M	$39.4M	$146.7M	$91.1M	$377.0M	+314.0%	+128.0%
Share Repurchases (Buybacks)	$60.0M	$40.0M	$80.5M	$40.2M	$0	−100.0%	—
Dividends Paid	—	—	—	—	$0	—	—

Fundamentals, income distribution and multi-year statements from SEC EDGAR filings (public domain). Valuation multiples, performance and technicals computed from Databento 1D EOD closes. For information only, not investment advice.

On the Wire

what FIVE did at the next close after each story

Sep 3

Five Below raises full-year outlook after strong second-quarter sales growth

Investing.com · 4:30 AM ET

−1.28%

What happened · big days

20 big days in a year, and what we hold on each

A big day is a close more than 4.07% from the one before, three times FIVE’s median day (1.36%). On 5 of the 20, its peer group moved the same way at least half as far. We show what we hold. We never name a cause.

every other trading daya big day, numbered in the list below±4.07%Hover a bar for its day. Click a big day to open it.

Shaded: since our stories began, Jun 10. Tap a bar for its day.

#DayFIVEWhat we hold that dayGroup (median of 4) · each

1 Jan 12, 2026+4.11%
Before our storiesgroup +2.5%, moved with FIVE
1Jan 12, 2026+4.11%
Before our stories
+2.5% moved with FIVEDG +4.3 · WMT +3.0 · COST +2.0 · TGT +0.6
2 Feb 6, 2026+4.39%
Before our storiesgroup +2.3%, moved with FIVE
2Feb 6, 2026+4.39%
Before our stories
+2.3% moved with FIVETGT +4.2 · WMT +3.3 · DG +1.2 · COST +1.2
3 Mar 19, 2026+10.68%
Resultsgroup −0.6%, did not move with it
3Mar 19, 2026+10.68%
ResultsFirst close after the Mar 18 results filing
−0.6% did not move with itTGT −0.5 · COST −0.5 · WMT −0.7 · DG −2.5
4 Apr 17, 2026+4.98%
Before our storiesgroup +2.4%, did not move with it
4Apr 17, 2026+4.98%
Before our stories
+2.4% did not move with itTGT +3.2 · DG +2.6 · WMT +2.1 · COST +1.3
5 Apr 20, 2026+4.85%
Before our storiesgroup +0.1%, did not move with it
5Apr 20, 2026+4.85%
Before our stories
+0.1% did not move with itTGT +1.8 · WMT +0.3 · DG −0.2 · COST −0.2
6 Apr 21, 2026−4.28%
Before our storiesgroup +1.1%, did not move with it
6Apr 21, 2026−4.28%
Before our stories
+1.1% did not move with itDG −1.9 · COST +0.8 · WMT +1.3 · TGT +1.5
7 May 7, 2026−5.52%
Before our storiesgroup +0.1%, did not move with it
7May 7, 2026−5.52%
Before our stories
+0.1% did not move with itTGT −3.3 · WMT +0.1 · DG +0.1 · COST +1.6
8 May 11, 2026−6.71%
Before our storiesgroup −3.8%, moved with FIVE
8May 11, 2026−6.71%
Before our stories
−3.8% moved with FIVEDG −7.6 · TGT −5.4 · WMT −2.2 · COST −0.9
9 May 28, 2026+4.13%
Before our storiesgroup +0.3%, did not move with it
9May 28, 2026+4.13%
Before our stories
+0.3% did not move with itDG +5.3 · WMT +0.3 · TGT +0.3 · COST −0.8
10 Jun 4, 2026−13.78%
Resultsgroup −0.0%, did not move with it
10Jun 4, 2026−13.78%
ResultsFirst close after the Jun 3 results filing
−0.0% did not move with itDG −1.5 · TGT −0.8 · WMT +0.7 · COST +1.1
11 Jun 29, 2026−5.38%
Nothing on FIVEgroup −1.3%, did not move with it
11Jun 29, 2026−5.38%
Nothing on FIVENo FIVE story, brief or results filing in our record that day
−1.3% did not move with itTGT −4.6 · DG −1.7 · WMT −0.9 · COST −0.6
12 Jul 30, 2026+4.62%
Nothing on FIVEgroup −1.5%, did not move with it
12Jul 30, 2026+4.62%
Nothing on FIVENo FIVE story, brief or results filing in our record that day
−1.5% did not move with itDG −0.9 · TGT −0.9 · COST −2.0 · WMT −2.7
13 Aug 7, 2026+5.73%
Nothing on FIVEgroup −0.2%, did not move with it
13Aug 7, 2026+5.73%
Nothing on FIVENo FIVE story, brief or results filing in our record that day
−0.2% did not move with itTGT +1.8 · COST −0.1 · WMT −0.2 · DG −0.7
14 Aug 21, 2026+5.89%
Nothing on FIVEgroup +1.9%, did not move with it
14Aug 21, 2026+5.89%
Nothing on FIVENo FIVE story, brief or results filing in our record that day
+1.9% did not move with itTGT +4.5 · DG +2.4 · COST +1.5 · WMT −0.1
15 Aug 24, 2026+4.99%
Nothing on FIVEgroup +2.6%, moved with FIVE
15Aug 24, 2026+4.99%
Nothing on FIVENo FIVE story, brief or results filing in our record that day
+2.6% moved with FIVEWMT +2.7 · TGT +2.7 · COST +2.5 · DG +1.6
16 Sep 4, 2026+5.10%
Nothing on FIVEgroup −0.4%, did not move with it
16Sep 4, 2026+5.10%
Nothing on FIVENo FIVE story, brief or results filing in our record that day
−0.4% did not move with itDG +1.5 · TGT +0.3 · COST −1.0 · WMT −1.2
17 Sep 15, 2026−5.42%
Nothing on FIVEgroup −2.3%, did not move with it
17Sep 15, 2026−5.42%
Nothing on FIVENo FIVE story, brief or results filing in our record that day
−2.3% did not move with itDG −3.5 · TGT −2.7 · COST −1.9 · WMT −0.9
18 Oct 29, 2026+4.70%
Nothing on FIVEgroup +2.0%, did not move with it
18Oct 29, 2026+4.70%
Nothing on FIVENo FIVE story, brief or results filing in our record that day
+2.0% did not move with itDG +3.1 · WMT +2.1 · TGT +1.9 · COST +1.4
19 Nov 4, 2026+6.70%
Nothing on FIVEgroup +4.5%, moved with FIVE
19Nov 4, 2026+6.70%
Nothing on FIVENo FIVE story, brief or results filing in our record that day
+4.5% moved with FIVEDG +8.5 · TGT +5.6 · WMT +3.5 · COST +2.7
20 Nov 5, 2026−4.27%
Nothing on FIVE
20Nov 5, 2026−4.27%
Nothing on FIVENo FIVE story, brief or results filing in our record that day
No group that day

A story on the same day is not a cause, and a group move is not proof either. Group: the median of WMT, COST, TGT and DG that day, the largest companies in FIVE’s SEC industry; “moved with FIVE” means the same direction and at least half the size.

What’s next · results

Before the next report: what the first day after the last four did

Six trading days after each results filing (SEC 8-K, Item 2.02). FIVE reports after the close, so day 1 is the next close. 3 of 4 times, day 6 ended on the same side as day 1.

Reported Dec 3, 2025

day 1+3.23%day 6+11.19%

Reported Mar 18, 2026

day 1+10.68%day 6+6.74%

Reported Jun 3, 2026

day 1−13.78%day 6−9.39%

Reported Sep 2, 2026

day 1−1.28%day 6+0.63%

Next report: expected early DecemberEstimated from the dates of its last four results filings. Not announced. Since the Sep 2 report: −0.75%. Four reports is a small sample.

Every report since 2022 →

Each line is FIVE’s close against its close before the filing, on licensed end-of-day closes. What happened after each report, not a forecast; a move on the day is not a cause.

Same industry

FIVE against four retail peers, a year at 100

FIVE is up 58.4% in a year. Target is up 78.8%. Of these four, Dollar General (+39.1%), Walmart (+25.9%) and Costco (+13.4%) did less. Weekly closes, Nov 7, 2025 = 100, on a log scale, so the same percentage move is the same height on every line.

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FIVE +58.4%. Target +78.8%, Dollar General +39.1%, Walmart +25.9%, Costco +13.4%. Weekly closes, Nov 7, 2025 = 100, log scale.

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End-of-day closes (Databento EOD), the last close of each week. The four peers are the largest US-listed companies by market value in FIVE’s SEC industry (Retail-Variety Stores) with a year of closes. It shows what the closes did; a move here is not a cause, a forecast or a call.

The Wire at 7 AM ET, free. Top stories with a bull and a bear case on each, every morning. No account needed.

WMT	Walmart	$1.03T	—
COST	Costco	$464.1B	—
TGT	Target	$74.1B	—
DG	Dollar General	$31.2B	—
DLTR	Dollar Tree	$28.2B	—
BJ	BJ's Wholesale Club	$14.2B	—
OLLI	Ollie's Bargain Outlet	$5.7B	—
PSMT	Pricesmart	$5.1B	—