Interface
TILENASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $31.88 Prior regular-session close from the quote source.
- $31.22–$31.84 Regular-session low and high so far today.
- 448.4K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- $24.40–$40.84 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own TILE if its expanded commercial portfolio can hold price and margins through the cycle, but it is just a cyclical carpet manufacturer if those gains reverse.
TILE price history
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Investment thesis
What must happen next
Interface’s multi-surface portfolio keeps it relevant in commercial flooring specifications, so demand can convert across carpet tile, LVT, nora rubber, and FLOR rather than depending on a single product category.StrengtheningMateriality: High
GAAP annual revenue rose from $1.261 billion in FY2024 to $1.316 billion in FY2025 and $1.387 billion in FY2026. If the portfolio keeps winning specifications, Interface can grow without becoming a pure commodity carpet-volume bet; if it loses specifier relevance, revenue becomes more cyclical and price-driven.
Watch: Architects, designers, and facility managers shift specifications toward Shaw, Mohawk, Tarkett, Milliken, or lower-cost private-label LVT bundles.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual revenue rose from $1.261 billion in FY2024 to $1.316 billion in FY2025 and $1.387 billion in FY2026.
Open source ↗Interface’s design, sustainability, and specified-product positioning allow it to hold price and mix against input-cost pressure rather than competing only on installed flooring cost.StrengtheningMateriality: High
GAAP annual gross profit increased from $441.1 million in FY2024 to $482.9 million in FY2025 and $537.4 million in FY2026. If price and mix hold, incremental revenue is valuable; if competitors force discounting or input costs cannot be passed through, earnings power can fall even with stable sales.
Watch: Resin, nylon, PVC, rubber, energy, or freight costs rise and Interface cannot pass them through to commercial buyers.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual gross profit increased from $441.1 million in FY2024 to $482.9 million in FY2025 and $537.4 million in FY2026.
Open source ↗Interface’s manufacturing scale and cost discipline convert portfolio and gross-margin improvement into operating income rather than being absorbed by selling, design, or overhead costs.StrengtheningMateriality: Medium
GAAP annual operating income increased from $104.5 million in FY2024 to $134.4 million in FY2025 and $164.0 million in FY2026. This determines whether Interface is merely a higher-sales manufacturer or a business with expanding earnings power and operating leverage.
Watch: Factory utilization falls because commercial projects slow, causing fixed manufacturing costs to deleverage.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating income increased from $104.5 million in FY2024 to $134.4 million in FY2025 and $164.0 million in FY2026.
Open source ↗Interface’s earnings quality and working-capital discipline give it cash to reduce balance-sheet risk and reinvest, which matters in a cyclical commercial flooring business.StrengtheningMateriality: Medium
GAAP annual operating cash flow rose from $43.1 million in FY2023 to $142.0 million in FY2024, $148.4 million in FY2025, and $167.9 million in FY2026. If cash conversion holds, owners benefit from resilience and optionality; if cash gets trapped in inventory, receivables, or debt service, accounting earnings overstate value creation.
Watch: A demand miss causes inventory to build or requires discounting before cash is collected.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating cash flow rose from $43.1 million in FY2023 to $142.0 million in FY2024, $148.4 million in FY2025.
Open source ↗
Full investment case & evidence
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Original research
Interface’s multi-surface portfolio keeps it relevant in commercial flooring specifications, so demand can convert across carpet tile, LVT, nora rubber, and FLOR rather than depending on a single product category. If the portfolio keeps winning specifications, Interface can grow without becoming a pure commodity carpet-volume bet; if it loses specifier relevance, revenue becomes more cyclical and price-driven.
Interface’s design, sustainability, and specified-product positioning allow it to hold price and mix against input-cost pressure rather than competing only on installed flooring cost. If price and mix hold, incremental revenue is valuable; if competitors force discounting or input costs cannot be passed through, earnings power can fall even with stable sales.
Interface’s manufacturing scale and cost discipline convert portfolio and gross-margin improvement into operating income rather than being absorbed by selling, design, or overhead costs. This determines whether Interface is merely a higher-sales manufacturer or a business with expanding earnings power and operating leverage.
Interface’s earnings quality and working-capital discipline give it cash to reduce balance-sheet risk and reinvest, which matters in a cyclical commercial flooring business. If cash conversion holds, owners benefit from resilience and optionality; if cash gets trapped in inventory, receivables, or debt service, accounting earnings overstate value creation.
All standing thesis claims
Original report summary
its expanded commercial portfolio can hold price and margins through the cycle, but it is just a cyclical carpet manufacturer if those gains reverse.
Bull case and bear case
Bull case and bear case for Interface
Where the evidence on Interface stands: Strengthening on the latest evidence (Nov 10, 2026). Of its 4 thesis points, 4 strengthening.
Bull case: what the evidence supports
Interface’s multi-surface portfolio keeps it relevant in commercial flooring specifications, so demand can convert across carpet tile, LVT, nora rubber, and FLOR rather than depending on a single product category.
Interface’s design, sustainability, and specified-product positioning allow it to hold price and mix against input-cost pressure rather than competing only on installed flooring cost.
Interface’s manufacturing scale and cost discipline convert portfolio and gross-margin improvement into operating income rather than being absorbed by selling, design, or overhead costs.
Interface’s earnings quality and working-capital discipline give it cash to reduce balance-sheet risk and reinvest, which matters in a cyclical commercial flooring business.
Bear case: what would count against it
Architects, designers, and facility managers shift specifications toward Shaw, Mohawk, Tarkett, Milliken, or lower-cost private-label LVT bundles.
Resin, nylon, PVC, rubber, energy, or freight costs rise and Interface cannot pass them through to commercial buyers.
Factory utilization falls because commercial projects slow, causing fixed manufacturing costs to deleverage.
Thesis-Break Engine
Thesis-break watch · Interface
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MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedReported results of operations (earnings release).
Interface filed an SEC 8-K on 2026-11-06: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedRegulation FD disclosure.
Interface filed an SEC 8-K on 2026-08-11: Regulation FD disclosure. It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Interface filed an SEC 8-K on 2026-08-07: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Architects, designers, and facility managers shift specifications toward Shaw, Mohawk, Tarkett, Milliken, or lower-cost private-label LVT bundles.
- Resin, nylon, PVC, rubber, energy, or freight costs rise and Interface cannot pass them through to commercial buyers.
- Factory utilization falls because commercial projects slow, causing fixed manufacturing costs to deleverage.
- A demand miss causes inventory to build or requires discounting before cash is collected.
TILE news
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Financial statements
TILE income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.