CATO CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data CATO CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	957	850	830	825	575	769	759	708	650	654
Cost of revenue	602	553	523	509	433	453	510	464	436	432
Gross profit	355	297	307	316	142	316	250	244	213	222
Selling, general and administrative	290	266	263	264	206	267	243	253	231	226
Operating income		16	33.1	43.2	-72.8	39	-3.58	-17.9	-26.4	-12.7
Interest expense	0.18	0.11	0.1	0.03	0.19	0.07	0.09	0.04	0.06	0.12
Interest income	-2.31	-2.43	3.89	4.95	2.7	1.32	1.88	3.92	5.02	4
Pre-tax income	49.1	16	33.1	43.2	-72.8	39	1.77	-13.8	-16.1	-7.5
Income tax	1.9	7.43	2.59	7.31	-25.3	2.12	1.74	10.1	1.94	-1.59
Net income	47.2	8.54	30.5	35.9	-47.5	36.8	0.03	-23.9	-18.1	-5.91
EBITDA		35.6	49.5	58.7	-58.1	51.3	7.5	-8.03	-16.6	-2.68
EPS, basic	1.72	0.34	1.23	1.46	-2.01	1.65	0.00	-1.17	-0.97	-0.31
EPS, diluted	1.72	0.34	1.23	1.46	-2.01	1.65	0.00	-1.17	-0.97	-0.31
Shares, basic (weighted)	26.8	24.9	24	23.7	22.5	21.1	19.9	19.4	19.2	18.8
Shares, diluted (weighted)	26.8	24.9	24	23.7	22.5	21.1	19.9	19.4	19.2	18.8
Dividend per share	1.29	1.32	1.32	1.32	0.33	0.45	0.68	0.68	0.51	0.00

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	49.6	78	24.6	11.8	17.5	19.8	20	23.9	20.3	16.8
Short-term investments	201	119	183	200	126	146	109	79	57.4	56.9
Receivables	30.3	28	28.1	26.1	52.7	55.8	26.5	29.8	24.5	25.5
Inventory	146	122	120	115	84.1	125	112	98.6	111	83.7
Other current assets	15.6	22.3	11.8	5.24	5.84	5.27	6.68	7.78	7.41	7.79
Total current assets	444	372	371	363	291	356	278	243	223	193
Property, plant and equipment	126	109	94.3	88.7	72.6	63.1	70.4	64	60.3	53.7
Lease right-of-use assets			0	201	200	181	174	155	149	154
Other non-current assets	22.4	21.7	21.8	24.1	22.9	24.4	21.6	25	20	20.5
Total assets	606	516	498	685	591	634	553	487	452	421
Accounts payable	105	82.6	84.3	68.4	73.8	110	92	87.8	88.6	65
Accrued liabilities	61.3	52.8	45.7	47.1	40.8	40.4	41.3	37.4	41.7	37.1
Deferred revenue		7.57	7.72	7.66	8.16	8.31	8.52	8.14	7.54	7.48
Total current liabilities	172	139	141	199	182	244	203	188	188	156
Lease liabilities			0	147	143	118	107	92	88.3	96.9
Other non-current liabilities						16.7	14.7	14.5	13.5	11.3
Total liabilities	222	190	181	368	345	380	327	294	290	264
Paid-in capital	95.2	99.9	106	111	115	120	122	127	130	131
Retained earnings	288	226	211	203	129	134	105	64.3	31.9	25
Other comprehensive income	-0.21	-0.32	-0.08	1.42	1.16	-0.28	-1.24	0.4	0.15	0.27
Shareholders' equity	384	326	317	317	246	254	227	192	162	157
Total equity	384	326	317	317	246	254	227	192	162	157
Total liabilities and equity	606	516	498	685	591	634	553	487	452	421

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	47.2	8.54	30.5	35.9	-47.5	36.8	0.03	-23.9	-18.1	-5.91
Depreciation and amortization	22.7	19.6	16.5	15.5	14.7	12.4	11.1	9.87	9.82	9.99
Stock-based compensation	4.2	4.2	4.94	4.67	4.09	4.09	2.61	4.17	2.28	1.67
Deferred income tax	-2.88	1.18	1.29	2.12	3.03	-3.19	0.39	8.72	0	0
Change in payables	-8.25	-28.8	-7.66	-8.63	-16.9	57.8	-43.2	-10.1	3.46	-30.5
Cash from operations	72.1	36	60.2	53.4	-30.7	59.8	13.4	0.48	-19.7	-1.46
Capital expenditures	-27.3	-11.1	-4.35	-8.31	-14	-4.11	-19.4	-12.5	-7.87	-3.76
Purchases of investments	-113	-15.8	-158	-218	-74	-142	-54.7	-48.1	-39.6	-25.4
Sales and maturities of investments	125	95.2	91	205	149
Cash from investing	-15.4	67.7	-71.1	-22.6	64.5	-25.3	16	19.8	29	-1.3
Stock issued	0.23	0.1	0.19	0	0
Share buybacks	-42.6	-38.9	-13.3	-9.61	-19.7	-22	-15.2	-2.56	-3.88	-1
Dividends paid	-35.4	-33.7	-32.6	-32.6	-7.91	-9.97	-14.4	-14	-10.5	0
Cash from financing	-77.3	-72	-45.2	-41.6	-27.2	-31.8	-29.3	-16.1	-14.1	-0.85
Net change in cash	-20.6	31.6	-56.1	-10.8	6.62	2.66	0.12	4.12	-4.84	-3.62
Free cash flow	44.8	24.9	55.9	45.1	-44.7	55.7	-6.06	-12.1	-27.6	-5.22
Income taxes paid	14.1	4.36	0.41	4.68	6.83	13.2	29.2	4.12	1.87	0.92

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to August 1, 2026; growth uses fiscal years. Valuation uses the share price of $2.45 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	33.6%	Gross profit / revenue.
Operating margin	-2.1%	Operating income / revenue.
EBITDA margin	-0.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-1.1%	Pre-tax income / revenue.
Net margin	-0.9%	Net income / revenue.
FCF margin	0.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	0.8%	Cash from operations / revenue.
Return on equity (ROE)	-3.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-1.3%	Net income / average total assets.
Return on invested capital (ROIC)	-7.9%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	34.4%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.3%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.6%	Capital expenditures / revenue.
D&A / revenue	1.5%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	0.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-4.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	2.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	4.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-3.8%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	9.4%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	-100.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	-3.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-11.5%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-8.6%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-6.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-8.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-6.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-2.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-2.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-3.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.36x	Current assets / current liabilities.
Quick ratio	0.74x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.61x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	60.3%	Total liabilities / total assets.
Working capital	$55.0M	Current assets - current liabilities.
Tangible book value	$167.9M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.52x	Revenue / average total assets.
Fixed asset turnover	12.4x	Revenue / average property, plant and equipment.
Inventory turnover	5.18x	Cost of revenue / average inventory.
Days inventory	70 days	365 x average inventory / cost of revenue.
Receivables turnover	31.5x	Revenue / average receivables.
Days sales outstanding	12 days	365 x average receivables / revenue.
Days payables	63 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	19 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	70.1%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.29	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$33.88	Revenue / diluted weighted shares.
FCF per share	$0.09	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.29	Cash from operations / diluted weighted shares.
Book value per share	$8.84	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$8.84	Tangible book value / shares outstanding.
Cash per share	$4.93	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	26.0%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$48.9M	Share price x shares outstanding.
Enterprise value	-$44.9M	Market cap + total debt - cash - short-term investments.
P/S	0.08x	Market cap / revenue.
P/B	0.29x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.29x	Market cap / tangible book value, when positive.
P/FCF	30.1x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	9.00x	Market cap / cash from operations, when positive.
FCF yield	3.3%	Free cash flow / market cap.
Earnings yield	-11.4%	Net income / market cap (the inverse of P/E).
Shareholder yield	0.9%	(Dividends paid + share buybacks) / market cap.

What was CATO CORP's revenue in fiscal 2025?

CATO CORP reported revenue of $653.8M for fiscal 2025, 0.6% higher than the year before.

Was CATO CORP profitable in fiscal 2025?

No. It reported a net loss of $5.9M.

How much free cash flow did CATO CORP generate in fiscal 2025?

Cash from operations of $1.5M minus capital expenditures of $3.8M left free cash flow of -$5.2M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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