# Five Below, Inc. (FIVE)

> Source: Nexqual · https://nexqual.com/FIVE · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Five Below, Inc. (FIVE), nexqual.com/FIVE" · informational, not investment advice.

**Price:** USD 225.87 (+0.79% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 224.1 · day 221.62–226.51 · 52w 143.02–263.88 · market cap $12.4B · NMS

## Key facts
- Last four reported quarters (through Aug 1, 2026): revenue $5.31B, net income $619M (11.7% margin), free cash flow $599M (SEC filings).
- Valuation: P/E 20.1x (avg 28.5x at the last 3 fiscal year-ends).
- 2 of 80 tracked superinvestors hold FIVE (13F, Q2 2026): 0 new, 0 added, 2 reduced, 0 unchanged.
- Analysts: Buy (mean 2.27 on a 1–5 scale) (26 analysts), mean target USD 305.27 (range 226–420).
- Total return with dividends: 1Y +43.8% vs S&P 500 +14.9%; 5Y +17.2% vs S&P 500 +80.3%.
- Next earnings: 2026-12-02, EPS estimate USD 1.14, revenue estimate $1.22B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.85B | $3.08B | $3.56B | $3.88B | $4.76B | $5.31B |
| Gross profit | $1.03B | $1.10B | $1.27B | $1.35B | $1.71B | — |
| Operating income | $380M | $345M | $386M | $324M | $457M | $784M |
| Net income | $279M | $262M | $301M | $254M | $359M | $619M |
| EPS (diluted) | $4.95 | $4.69 | $5.41 | $4.60 | $6.47 | — |
| Free cash flow | $39.7M | $63.0M | $165M | $107M | $412M | $599M |
| Gross margin | 36.2% | 35.6% | 35.8% | 34.9% | 36.0% | — |
| Operating margin | 13.3% | 11.2% | 10.8% | 8.4% | 9.6% | 14.7% |
| Net margin | 9.8% | 8.5% | 8.5% | 6.5% | 7.5% | 11.7% |
| Revenue growth | +45.2% | +8.0% | +15.7% | +8.9% | +22.9% | — |
| Cash + short-term investments | $342M | $399M | $460M | $529M | $932M | — |
Fiscal years end Jan. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Aug 1, 2026)
P/E 20.1x · P/S 2.3x · P/FCF 20.8x · P/B 5.0x · FCF yield 4.82% · Earnings yield 4.98%
P/E at fiscal year-ends: Jan 2026 29.6x, Feb 2025 18.9x, Feb 2024 37.1x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold FIVE. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Francois Rochon | Giverny Capital | 3.62% | $108M | Reduced -3.1% |
| Christopher Bloomstran | Semper Augustus | 2.15% | $19.0M | Reduced -45.2% |

## Analysts
Consensus Buy (mean 2.27 on a 1–5 scale), 26 analysts; mean target USD 305.27 (low 226, high 420).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-29 | Evercore ISI Group | Target lowered | In-Line | $260 → $250 |
| 2026-09-04 | Goldman Sachs | Target raised | Buy | $257 → $306 |
| 2026-09-03 | JP Morgan | Target raised | Overweight | $325 → $368 |
| 2026-09-03 | Jefferies | Target raised | Buy | $350 → $420 |
| 2026-09-03 | Telsey Advisory Group | Target raised | Outperform | $280 → $305 |
| 2026-09-03 | Evercore ISI Group | Target raised | In-Line | $245 → $260 |
| 2026-09-03 | Citigroup | Target raised | Neutral | $235 → $265 |
| 2026-09-03 | Truist Securities | Target raised | Buy | $273 → $297 |
| 2026-09-03 | UBS | Target raised | Buy | $285 → $325 |
| 2026-09-03 | Morgan Stanley | Target raised | Equal-Weight | $235 → $300 |
| 2026-09-03 | Guggenheim | Target raised | Buy | $250 → $290 |
| 2026-09-03 | Wells Fargo | Target raised | Overweight | $260 → $295 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +43.8% | +17.2% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +44.0% | +3.2% |
| Volatility (annualized) | 38.4% | 47.0% |
| Max drawdown | -28.9% (Apr 2026→Jul 2026) | -73.6% (Nov 2021→Mar 2025) |

## Peers (Specialty Retail)
GME (GameStop Corporation) USD 25.39 -3.42% · DKS (Dick's Sporting Goods Inc) USD 148.78 +4.80% · MUSA (Murphy USA Inc.) USD 532.1 -0.82% · TSCO (Tractor Supply Company) USD 34.73 +6.24% · BBY (Best Buy Co., Inc.) USD 99.83 +6.07% · CASY (Caseys General Stores, Inc.) USD 713.65 +2.66%

## More
Full page: https://nexqual.com/FIVE · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in FIVE's own 10-K filed 2026-03-19 (https://www.sec.gov/Archives/edgar/data/1177609/000117760926000010/five-20260131.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | ByteDance | "Our digital experience, anchored by our mobile e-commerce website, mobile app and social media presence is growing rapidly as we utilize Instagram, TikTok and Facebook to engage our customers with compelling digital cont…" |
| Supplier | Meta Platforms (META) | "Our digital experience, anchored by our mobile e-commerce website, mobile app and social media presence is growing rapidly as we utilize Instagram, TikTok and Facebook to engage our customers with compelling digital cont…" |
| Customer | Cheap Holdings | "The Company was incorporated in Pennsylvania in January 2002 under the name of Cheap Holdings, Inc. by David Schlessinger and Thomas Vellios, who recognized a market need for a fun and affordable shopping destination aim…" |

## Revenue by product line (quarter ended 2026-08-01)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Leisure | $644.2M | 51.1% | +36.9% |
| Fashion and home | $337.7M | 26.8% | +9.2% |
| Snack and seasonal | $279.6M | 22.2% | +13.1% |
| Total revenue | $1.26B | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-10-31) | $1.14 | $0.84 | +36.0% | $1.22B | 22 |
| Next quarter (ends 2027-01-31) | $5.21 | $4.74 | +10.0% | $1.94B | 22 |
| Current fiscal year (ends 2027-01-31) | $10.25 | $9.10 | +12.6% | $5.71B | 24 |
| Next fiscal year (ends 2028-01-31) | $11.06 | $9.76 | +13.3% | $6.24B | 25 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-12-18 (includes earnings 2026-12-02): ±14.8%; earnings reaction alone ±7.5%; last 8 reports averaged ±7.1%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 40.2% | ±9.2% |
| 2026-12-18 | 56 | 46.4% | ±14.8% |
| 2027-01-15 | 84 | 45.0% | ±17.4% |
| 2027-02-19 | 119 | 42.7% | ±19.6% |
| 2027-05-21 | 210 | 42.9% | ±26.1% |