Five Below Past Earnings Performance
Past criteria checks 5/6
Five Below has been growing earnings at an average annual rate of 11.4%, while the Specialty Retail industry saw earnings declining at 6.9% annually. Revenues have been growing at an average rate of 13.5% per year. Five Below's return on equity is 25%, and it has net margins of 11.7%.
Key information
11.39%
Earnings growth rate
11.74%
EPS growth rate
| Specialty Retail Industry Growth | 26.64% |
| Revenue growth rate | 13.50% |
| Return on equity | 25.01% |
| Net Margin | 11.65% |
| Last Earnings Update | 01 Aug 2026 |
Recent past performance updates
Recent updates
Seeking Alpha • Sep 03
Five Below Q2: Continued Outperformance As Comparable Sales Growth Shines
Summary Five Below, Inc. just released its Q2 earnings, and the results were impressive. The discount retailer reported comparable sales growth well above consensus estimates, while also putting out expectation-beating forward guidance. The share gains post-release add to YTD share appreciation of about 30%. At 26x forward earnings, FIVE shares aren’t overly expensive, though I would hesitate to chase the stock higher at the top end of its 52-week range. I view FIVE shares as adequately priced at current trading levels. Read the full article on Seeking Alpha
Narrative Update • Sep 03
FIVE: Fair Outlook Will Hinge On Sustaining Trend Driven Store Traffic
Five Below's analyst fair value estimate has been raised from $210 to $235 as analysts point to stronger Q2 expectations, firmer comp and merchandising trends, and recent rounds of higher Street price targets that reflect increased confidence in the business model. Analyst Commentary Recent Street research around Five Below shows a mix of optimism and caution.
Narrative Update • Aug 13
FIVE: Merchandising And Store Execution Will Drive Future Repricing
Analysts have nudged their fair value estimate for Five Below higher to about $335 from roughly $322, pointing to recent upgrades and higher price targets that emphasize what they see as more durable comps, merchandising gains, and a shift toward a longer-term growth story rather than just squish-driven demand. Analyst Commentary on Five Below Recent research commentary on Five Below has tilted more positive, with several bullish analysts framing the stock as a longer term growth story supported by merchandising execution, store productivity, and what they view as more sustainable comparable sales trends.Narrative Update • Jul 02
FIVE: Elevated Multiple Will Rely On Sustained Trend Driven Traffic Momentum
The analyst price target for Five Below has been raised from $185 to $210. Analysts cite a mix of slightly lower assumed revenue growth, improved profit margins, and a modestly lower future P/E multiple, informed by recent research that highlights both strong recent comps tied to Squishy Dumplings and questions about how durable that momentum will be.Narrative Update • Jun 18
FIVE: Strong Comps And Margin Execution Will Support Future Repricing
For Five Below, the updated analyst price target implies a fair value shift from $305.00 to about $321.69. Analysts are factoring in solid recent comps and margin performance while also accounting for lower revenue growth, slightly softer profit margins, and a higher future P/E multiple.Analysis Article • Jun 16
Five Below (FIVE) Stock Could Be 26.7% Undervalued After Earnings And Raised Guidance
Five Below (FIVE) has drawn fresh attention after reporting first quarter results, updating guidance for 2026, and benefiting from viral Cardi B social media posts that spotlighted the retailer to a wider audience. See our latest analysis for Five Below. Five Below’s share price has been choppy in recent months, with a 7 day share price return of 3.98% but a 30 day share price return that is down 9.23%, while the 1 year total shareholder return of 53.33% points to stronger longer term...
Narrative Update • Jun 03
FIVE: Comp Execution And Store Expansion Will Drive Bullish 2026 Outlook
Analysts have nudged their fair value estimate for Five Below to about $264 from roughly $261, reflecting updated models that include higher comparable sales expectations and revised retail sector assumptions from recent Street research. Analyst Commentary Bullish analysts are generally lifting their fair value views in response to refreshed models and higher comparable sales assumptions, which feeds into the modest increase in the consolidated fair value estimate to about US$264.Narrative Update • Apr 28
FIVE: New Leadership And Earnings Setup Will Support Future Repricing
Analysts have raised their average price targets on Five Below by a wide range, from $5 up to $45, as they factor in slightly higher modeled revenue growth near 12.6%, a modestly higher profit margin near 9.0%, and an updated discount rate of about 8.8%, while keeping a long term fair value estimate around $305 unchanged. Analyst Commentary Recent Street research around Five Below has been largely constructive, with a cluster of price target revisions and several rating changes that lean positive.Narrative Update • Apr 14
FIVE: New Leadership Execution And Margin Expansion Will Shape Bullish 2026 Outlook
Analysts have raised the implied fair value estimate for Five Below by about $32 to $261.32. They cite a series of recent price target increases across Wall Street and updated assumptions that factor in slightly lower revenue growth expectations, offset by higher projected profit margins and a modestly reduced future P/E multiple.Narrative Update • Mar 31
FIVE: Higher Margin Outlook Under New Leadership Will Support Repricing
The analyst fair value estimate for Five Below has shifted from $125.00 to $305.00. This change reflects a series of higher Street price targets that generally cite assumptions of stronger revenue growth, higher profit margins, and a higher future P/E multiple under current management.Narrative Update • Mar 17
FIVE: Holiday Strength And New Leadership Reset Will Shape Balanced 2026 Outlook
The analyst price target for Five Below has been raised by about $12 to reflect a higher fair value estimate of $229, as analysts factor in stronger assumptions for revenue growth, profit margins, and future P/E multiples following a series of upward target revisions across the Street. Analyst Commentary Street research on Five Below has leaned more positive recently, with several firms lifting price targets and reiterating constructive views on the long term growth story.Narrative Update • Mar 02
FIVE: Elevated P/E Will Likely Crack On Execution Dependent Holiday Momentum
Analysts have lifted their average price targets on Five Below to a range of roughly $193 to $267, citing improving results under new leadership, stronger holiday execution, and expectations for a higher P/E multiple as management initiatives around merchandising, store operations, and marketing take hold. Analyst Commentary Recent research has generally tilted positive on Five Below, with several firms lifting price targets into a band that now runs from about $193 to $267.Narrative Update • Feb 16
FIVE: Elevated Multiple Will Likely Crack On Execution Dependent Holiday Momentum
Our analyst fair value estimate for Five Below has been raised from about $125 to $185. This change reflects higher assumed revenue growth, a slightly lower discount rate, modestly stronger profit margins, and a richer future P/E multiple that aligns with recent analyst price target hikes following positive management updates and holiday results.Narrative Update • Feb 02
FIVE: Holiday Execution And Merchandising Initiatives Will Support Future Margin Expansion
The analyst price target for Five Below has moved higher, with our fair value estimate shifting from $213.71 to $217.33 as analysts respond to a series of price target increases across the Street tied to recent holiday performance updates, management meetings, and expectations for margins and comparable sales. Analyst Commentary Street research on Five Below has turned more constructive overall, with a cluster of price target changes following strong holiday updates and investor meetings.Narrative Update • Jan 19
FIVE: Raised Guidance And Execution Support Future Margin And Valuation Balance
Analysts have raised their implied fair value estimate for Five Below from about $186 to roughly $214. This reflects updated assumptions for slightly higher revenue, improved profit margins, and a modestly richer future P/E multiple following a series of price target increases across Wall Street.Narrative Update • Jan 04
FIVE: Raised Guidance And Expansion Will Support Future Margin And Traffic Upside
Analysts have raised their price target on Five Below by $23 to $186, citing improving expectations for revenue growth, profit margins, and overall fair value. Analyst Commentary Recent commentary from JPMorgan highlights a constructive shift in sentiment around Five Below, with the firm upgrading the stock to Overweight and setting a $186 price target.Narrative Update • Dec 14
FIVE: Elevated Expectations Will Likely Expose Fragile Turnaround Momentum
Five Below's analyst price target has been raised from approximately $109 to about $125. Analysts point to improving profit margins, beatable second half and 2026 expectations, and strengthened leadership as drivers of a more favorable long term outlook, despite slightly lower projected revenue growth.Narrative Update • Nov 30
FIVE: Leadership Changes And Expansion Will Balance Near-Term Opportunities And Execution Risks
Analysts have modestly increased their price target for Five Below to $163.14 from $161.95, reflecting optimism about leadership changes and favorable industry trends. Analyst Commentary Recent research and rating changes highlight a mix of optimism and caution from Wall Street regarding Five Below's outlook.Narrative Update • Nov 16
FIVE: Recent Leadership and Expansion Moves Will Shape Risk and Reward Ahead
Analysts have slightly increased their price target for Five Below to approximately $161.95. They cite sustained momentum in sales, ongoing margin improvement, and confidence in new leadership as factors contributing to a positive long-term outlook.Narrative Update • Nov 01
FIVE: New Leadership And Store Expansion Will Shape Business Turnaround Ahead
The analyst price target for Five Below has edged higher from approximately $160.10 to $161.86. This reflects analyst confidence in stronger revenue growth and improving profit margins, supported by positive sales momentum, experienced new leadership, and an accelerating business turnaround.Narrative Update • Oct 18
Value Focus And Gen Z Appeal Will Transform Retail Dynamics
Five Below's analyst price target has nudged higher to approximately $160, up slightly from $159. Analysts point to ongoing sales momentum, improved merchandising, and strengthening management as factors supporting the company's outlook.Narrative Update • Oct 04
Value Focus And Gen Z Appeal Will Transform Retail Dynamics
Five Below's analyst price target has been modestly increased to $159 from $157, as analysts cite improved management stability, strong sales momentum, and ongoing turnaround efforts as key drivers supporting a slightly higher valuation outlook. Analyst Commentary Recent Street research on Five Below reflects a mix of optimism surrounding strong operational improvement and cautious notes regarding future risks and potential headwinds.Narrative Update • Aug 27
Pacific Northwest Expansion And Digital Engagement Will Open New Avenues
Analysts modestly raised Five Below’s price target to $141.11, citing robust same-store sales, effective strategic execution, and potential margin tailwinds, while remaining cautious on near-term growth risks and macro headwinds. Analyst Commentary Bullish analysts cite consistently strong same-store sales growth, driven by both increased traffic and higher average ticket sizes, as a key catalyst for raising price targets.Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Five Below makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 01 Aug 26 | 5,314 | 619 | 1,176 | 0 |
| 02 May 26 | 5,079 | 441 | 1,123 | 0 |
| 31 Jan 26 | 4,764 | 359 | 1,065 | 0 |
| 01 Nov 25 | 4,427 | 308 | 1,217 | 0 |
| 02 Aug 25 | 4,232 | 273 | 978 | 0 |
| 03 May 25 | 4,035 | 263 | 1,007 | 0 |
| 01 Feb 25 | 3,877 | 254 | 861 | 0 |
| 02 Nov 24 | 3,823 | 268 | 840 | 0 |
| 03 Aug 24 | 3,716 | 281 | 993 | 0 |
| 04 May 24 | 3,645 | 295 | 784 | 0 |
| 03 Feb 24 | 3,559 | 301 | 758 | 0 |
| 28 Oct 23 | 3,344 | 270 | 632 | 0 |
| 29 Jul 23 | 3,253 | 272 | 646 | 0 |
| 29 Apr 23 | 3,163 | 266 | 644 | 0 |
| 28 Jan 23 | 3,076 | 262 | 645 | 0 |
| 29 Oct 22 | 2,950 | 230 | 648 | 0 |
| 30 Jul 22 | 2,913 | 238 | 621 | 0 |
| 30 Apr 22 | 2,890 | 262 | 593 | 0 |
| 29 Jan 22 | 2,848 | 279 | 566 | 0 |
| 30 Oct 21 | 2,711 | 263 | 543 | 0 |
| 31 Jul 21 | 2,580 | 259 | 510 | 0 |
| 01 May 21 | 2,359 | 224 | 473 | 0 |
| 30 Jan 21 | 1,962 | 123 | 428 | 0 |
| 31 Oct 20 | 1,791 | 110 | 416 | 0 |
| 01 Aug 20 | 1,692 | 100 | 395 | 0 |
| 02 May 20 | 1,683 | 99 | 399 | 0 |
| 01 Feb 20 | 1,847 | 175 | 402 | 0 |
| 02 Nov 19 | 1,762 | 154 | 398 | 0 |
| 03 Aug 19 | 1,698 | 157 | 378 | 0 |
| 04 May 19 | 1,628 | 154 | 359 | 0 |
| 02 Feb 19 | 1,560 | 150 | 336 | 0 |
| 03 Nov 18 | 1,462 | 128 | 321 | 0 |
| 04 Aug 18 | 1,406 | 124 | 303 | 0 |
| 05 May 18 | 1,342 | 116 | 284 | 0 |
| 03 Feb 18 | 1,278 | 102 | 273 | 0 |
| 28 Oct 17 | 1,161 | 85 | 256 | 0 |
| 29 Jul 17 | 1,104 | 80 | 243 | 0 |
| 29 Apr 17 | 1,041 | 73 | 228 | 0 |
| 28 Jan 17 | 1,000 | 72 | 216 | 0 |
| 29 Oct 16 | 939 | 64 | 205 | 0 |
| 30 Jul 16 | 909 | 63 | 196 | 0 |
| 30 Apr 16 | 871 | 60 | 186 | 0 |
| 30 Jan 16 | 832 | 58 | 177 | 0 |
| 31 Oct 15 | 769 | 49 | 170 | 0 |
Quality Earnings: FIVE has a large one-off gain of $169.5M impacting its last 12 months of financial results to 1st August, 2026.
Growing Profit Margin: FIVE's current net profit margins (11.7%) are higher than last year (6.5%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: FIVE's earnings have grown by 11.4% per year over the past 5 years.
Accelerating Growth: FIVE's earnings growth over the past year (126.9%) exceeds its 5-year average (11.4% per year).
Earnings vs Industry: FIVE earnings growth over the past year (126.9%) exceeded the Specialty Retail industry 9.8%.
Return on Equity
High ROE: FIVE's Return on Equity (25%) is considered high.
Return on Assets
Return on Capital Employed
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/09 22:15 |
| End of Day Share Price | 2026/09/09 00:00 |
| Earnings | 2026/08/01 |
| Annual Earnings | 2026/01/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Five Below, Inc. is covered by 40 analysts. 23 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Meredith Adler | Barclays |
| Seth Sigman | Barclays |
| Brian McNamara | Berenberg |