Revenue growth remains inconsistent with a 2.2% decline in 2026Q1, while operating margins remain thin at 1.6% due to a high fixed-cost structure.
| Metric | TTM | Nov'25 | Nov'24 | Nov'23 | Nov'22 | Nov'21 | Nov'20 | Nov'19 | Nov'18 | Nov'17 | Nov'16 | Nov'15 | Nov'14 | Nov'13 | Nov'12 | Nov'11 | Nov'10 | Nov'09 | Nov'08 | Nov'07 | Nov'06 | Nov'05 | Nov'04 | Nov'03 | Nov'02 | Nov'01 | Nov'00 | Nov'99 | Nov'98 | Nov'97 | Nov'96 |
|---|
| Sales/Revenue | 333.46M | 335.28M | 329.92M | 390.14M | 485.6M | 430.89M | 337.67M | 452.09M | 456.86M | 452.5M | 432.04M | 430.93M | 340.74M | 321.29M | 269.67M | 253.21M | 235.25M | 232.72M | 288.3M | 295.38M | 328.21M | 335.21M | 315.65M | 316.86M | 323.49M | 305.68M | 367.44M | 394.4M | 397.6M | 446.9M | 450.7M |
| Revenue Growth % | 2.44% | 1.62% | -15.43% | -19.66% | 12.7% | 27.6% | -25.31% | -1.04% | 0.96% | 4.74% | 0.26% | 26.47% | 6.05% | 19.14% | 6.5% | 7.63% | 1.09% | -19.28% | -2.4% | -10% | -2.09% | 6.19% | -0.38% | -2.05% | 5.83% | -16.81% | -6.83% | -0.8% | -11.03% | -0.84% | -8.17% |
| Cost of Goods Sold | 146.44M | 146.6M | 150.51M | 183.65M | 237.26M | 209.8M | 163.57M | 225.61M | 179.58M | 177.58M | 167.52M | 179.29M | 158.32M | 155.29M | 128.35M | 125.64M | 122.57M | 129.88M | 173.4M | 195M | 225.32M | 236.39M | 234.61M | 234.86M | 254.99M | 254.46M | 292.25M | 300.9M | 317M | 390.7M | 372.9M |
| COGS % of Revenue | - | 43.72% | 45.62% | 47.07% | 48.86% | 48.69% | 48.44% | 49.9% | 39.31% | 39.24% | 38.77% | 41.61% | 46.46% | 48.33% | 47.59% | 49.62% | 52.1% | 55.81% | 60.15% | 66.02% | 68.65% | 70.52% | 74.33% | 74.12% | 78.83% | 83.24% | 79.54% | 76.29% | 79.73% | 87.42% | 82.74% |
| Gross Profit | 187.02M | 188.68M | 179.41M | 206.49M | 248.34M | 221.09M | 174.1M | 226.48M | 277.27M | 274.92M | 264.52M | 251.64M | 182.42M | 165.99M | 141.32M | 127.57M | 112.69M | 102.84M | 114.9M | 100.38M | 102.89M | 98.82M | 81.04M | 82M | 68.49M | 51.22M | 75.19M | 93.5M | 80.6M | 56.2M | 77.8M |
| Gross Margin % | 56.08% | 56.28% | 54.38% | 52.93% | 51.14% | 51.31% | 51.56% | 50.1% | 60.69% | 60.76% | 61.23% | 58.39% | 53.54% | 51.67% | 52.41% | 50.38% | 47.9% | 44.19% | 39.85% | 33.98% | 31.35% | 29.48% | 25.67% | 25.88% | 21.17% | 16.76% | 20.46% | 23.71% | 20.27% | 12.58% | 17.26% |
| Gross Profit Growth % | - | 5.17% | -13.11% | -16.85% | 12.33% | 26.98% | -23.12% | -18.32% | 0.85% | 3.93% | 5.12% | 37.94% | 9.9% | 17.46% | 10.78% | 13.2% | 9.58% | -10.5% | 14.46% | -2.44% | 4.13% | 21.93% | -1.16% | 19.71% | 33.73% | -31.88% | -19.58% | 16% | 43.42% | -27.76% | -15.16% |
| Operating Expenses | 180.39M | 180.36M | 195.68M | 209.62M | 213.47M | 196.83M | 176.41M | 227.07M | 262.42M | 247.91M | 236.33M | 224.67M | 167.29M | 155.99M | 136.24M | 122.02M | 116.89M | 118.99M | 128.28M | 112.6M | 103.36M | 91.27M | 77.31M | 83.23M | 62.24M | 56.13M | 71.71M | 81M | 70.9M | 90.9M | 70.5M |
| OpEx % of Revenue | - | 53.79% | 59.31% | 53.73% | 43.96% | 45.68% | 52.24% | 50.23% | 57.44% | 54.79% | 54.7% | 52.14% | 49.1% | 48.55% | 50.52% | 48.19% | 49.69% | 51.13% | 44.5% | 38.12% | 31.49% | 27.23% | 24.49% | 26.27% | 19.24% | 18.36% | 19.52% | 20.54% | 17.83% | 20.34% | 15.64% |
| Selling, General & Admin | 179.2M | 180.36M | 187.96M | 205.23M | 218.07M | 196.83M | 176.41M | 219.03M | 262.42M | 248.96M | 237.24M | 224.46M | 167.29M | 155.99M | 134.8M | 122.02M | 117.38M | 121.43M | 129.76M | 112.44M | 103.55M | 91.27M | 77.14M | 80.03M | 60.99M | 54.48M | 61.68M | 72.6M | 64M | 84.7M | 64.2M |
| SG&A % of Revenue | - | 53.79% | 56.97% | 52.6% | 44.91% | 45.68% | 52.24% | 48.45% | 57.44% | 55.02% | 54.91% | 52.09% | 49.1% | 48.55% | 49.99% | 48.19% | 49.89% | 52.18% | 45.01% | 38.07% | 31.55% | 27.23% | 24.44% | 25.26% | 18.85% | 17.82% | 16.79% | 18.41% | 16.1% | 18.95% | 14.24% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 0 | 7.73M | 4.4M | -4.59M | 1K | 0 | 8.04M | 0 | -1.05M | -910K | 209K | 0 | 0 | 1.44M | 0 | -488K | -2.43M | -1.48M | 159K | -190K | 0 | 170K | 3.2M | 1.25M | 1.66M | 10.03M | 8.4M | 6.9M | 6.2M | 6.3M |
| Operating Income | 6.62M | 7.83M | -16.27M | -3.13M | 34.87M | 24.26M | -1.02M | -595K | 14.08M | 27.02M | 28.19M | 25.99M | 15.13M | 10.01M | 6.15M | -19.86M | -4.69M | -16.15M | -13.45M | -12.06M | -656K | 7.09M | 3.9M | 26.99B | 6.26M | -4.91M | 3.48M | 12.5M | 9.7M | -34.7M | 7.3M |
| Operating Margin % | 1.99% | 2.33% | -4.93% | -0.8% | 7.18% | 5.63% | -0.3% | -0.13% | 3.08% | 5.97% | 6.53% | 6.03% | 4.44% | 3.11% | 2.28% | -7.84% | -1.99% | -6.94% | -4.66% | -4.08% | -0.2% | 2.12% | 1.23% | 8519.23% | 1.93% | -1.61% | 0.95% | 3.17% | 2.44% | -7.76% | 1.62% |
| Operating Income Growth % | - | 148.11% | -418.95% | -108.99% | 43.73% | 2482.81% | -71.09% | -104.22% | -47.87% | -4.17% | 8.48% | 71.76% | 51.23% | 62.68% | 130.97% | -323.66% | 70.99% | -20.14% | -11.53% | -1737.8% | -109.25% | 82.04% | -99.99% | 431386.22% | 227.36% | -240.99% | -72.13% | 28.87% | 127.95% | -575.34% | -57.56% |
| EBITDA | 15.41M | 16.63M | -6.35M | 7.01M | 44.91M | 38.85M | 12.46M | 14.13M | 28.3M | 41.05M | 41.06M | 36.13M | 22.45M | 16.2M | 11.62M | -14.34M | 1.28M | -9.55M | -5.93M | -2.97M | 8.6M | 16.77M | 14.05M | 27B | 17.06M | 6.4M | 13.52M | 20.9M | 16.6M | -28.5M | 13.6M |
| EBITDA Margin % | 4.62% | 4.96% | -1.93% | 1.8% | 9.25% | 9.02% | 3.69% | 3.13% | 6.19% | 9.07% | 9.5% | 8.38% | 6.59% | 5.04% | 4.31% | -5.66% | 0.54% | -4.1% | -2.06% | -1% | 2.62% | 5% | 4.45% | 8522.55% | 5.27% | 2.1% | 3.68% | 5.3% | 4.18% | -6.38% | 3.02% |
| EBITDA Growth % | 887.69% | 361.82% | -190.65% | -84.4% | 15.58% | 211.8% | -11.8% | -50.07% | -31.07% | -0.02% | 13.67% | 60.94% | 38.54% | 39.4% | 181.04% | -1221.42% | 113.39% | -60.96% | -99.97% | -134.51% | -48.73% | 19.36% | -99.95% | 158190.15% | 166.4% | -52.62% | -35.33% | 25.9% | 158.25% | -309.56% | -47.29% |
| D&A (Non-Cash Add-back) | 8.79M | 8.8M | 9.92M | 10.14M | 10.04M | 14.6M | 13.48M | 14.72M | 14.21M | 14.04M | 12.87M | 10.14M | 7.32M | 6.2M | 5.47M | 5.51M | 5.97M | 6.6M | 7.51M | 9.09M | 9.25M | 9.67M | 10.15M | 10.52M | 10.8M | 11.32M | 10.03M | 8.4M | 6.9M | 6.2M | 6.3M |
| EBIT | 9.17M | 8.81M | -14.34M | -2.47M | 34.1M | 22.79M | -16.74M | -1.73M | 12.26M | 28.11M | 26.33M | 32.48M | 14.79M | 8.44M | 12.31M | 60.66M | -214K | -20.75M | -19.39M | -10.3M | 10.32M | 16.44M | 13.63M | 1.97M | 7.51M | 2.04M | 3.48M | 12.5M | 9.7M | -34.7M | 7.3M |
| Net Interest Income | 1.97M | 1.98M | 2.64M | 2.51M | 264K | 15K | 232K | 562K | 374K | -4K | -432K | -607K | -188K | -255K | -295K | -912K | -1.99M | -3.7M | -4.02M | 2.25M | 3.45M | 3.5M | 4.3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 1.97M | 1.98M | 2.67M | 2.53M | 302K | 48K | 232K | 568K | 431K | 230K | 120K | 0 | 0 | 0 | 0 | 0 | 876K | 0 | 16.83M | 5.92M | 7.32M | 6.74M | 7.08M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 30K | 22K | 38K | 33K | 0 | 6K | 57K | 234K | 552K | 607K | 188K | 255K | 295K | 912K | 2.87M | 3.7M | 20.85M | 3.67M | 3.86M | 3.24M | 2.78M | 3.52M | 0 | 3.33M | 0 | 0 | 0 | 14.4M | 0 |
| Other Income/Expense | 1.1M | 933K | 1.9M | 647K | -803K | -1.5M | -15.71M | -1.15M | -1.88M | 858K | -2.42M | 5.88M | -524K | -1.82M | 5.86M | 79.61M | 2.48M | -8.3M | -9.96M | -1.91M | 7.11M | 6.1M | 6.95M | -5.98B | 2.85M | 1.23M | 11.58M | 13.8M | 11.4M | -7.2M | 15M |
| Pretax Income | 7.72M | 8.76M | -14.37M | -2.49M | 34.06M | 22.76M | -18.01M | -1.74M | 12.21M | 27.88M | 25.78M | 31.87M | 14.61M | 8.19M | 12.01M | 59.75M | -2.21M | -24.45M | -23.41M | -13.97M | 6.46M | 13.2M | 10.85M | 21.01B | 9.11M | -3.68M | 15.07M | 26.3M | 21.1M | -41.9M | 22.3M |
| Pretax Margin % | 2.32% | 2.61% | -4.36% | -0.64% | 7.01% | 5.28% | -5.33% | -0.38% | 2.67% | 6.16% | 5.97% | 7.4% | 4.29% | 2.55% | 4.46% | 23.6% | -0.94% | -10.51% | -8.12% | -4.73% | 1.97% | 3.94% | 3.44% | 6632.29% | 2.82% | -1.21% | 4.1% | 6.67% | 5.31% | -9.38% | 4.95% |
| Income Tax | 2.36M | 2.66M | -4.67M | 683K | 8.7M | 5.84M | -6.54M | 188K | 3.99M | 9.62M | 9.95M | 11.44M | 5.31M | 3.09M | -14.7M | 4.41M | -206K | -1.75M | 16.95M | -4.06M | 1.03M | 3.38M | 2.64M | 462K | 2.37M | -1.04M | 4.67M | 8.3M | 5.4M | -22.3M | 3.8M |
| Effective Tax Rate % | 30.57% | 30.37% | 32.53% | -27.45% | 25.55% | 25.64% | 36.28% | -10.8% | 32.67% | 34.51% | 38.59% | 35.88% | 36.34% | 37.75% | -122.35% | 7.38% | 9.33% | 7.17% | -72.38% | 29.06% | 15.89% | 25.62% | 24.34% | 0% | 26% | 28.28% | 31% | 31.56% | 25.59% | 53.22% | 17.04% |
| Net Income | 5.36M | 6.1M | -9.7M | -3.17M | 65.34M | 18.04M | -10.42M | -1.93M | 8.22M | 18.26M | 15.83M | 20.43M | 9.3M | 5.1M | 26.71M | 55.34M | -2M | -22.7M | -40.35M | -9.91M | 5.43M | 9.81M | 8.21M | -470K | 6.74M | -2.64M | 10.03M | 18M | 15.7M | -19.6M | 18.5M |
| Net Margin % | 1.61% | 1.82% | -2.94% | -0.81% | 13.46% | 4.19% | -3.09% | -0.43% | 1.8% | 4.03% | 3.66% | 4.74% | 2.73% | 1.59% | 9.91% | 21.86% | -0.85% | -9.75% | -14% | -3.36% | 1.65% | 2.93% | 2.6% | -0.15% | 2.08% | -0.86% | 2.73% | 4.56% | 3.95% | -4.39% | 4.1% |
| Net Income Growth % | 180.66% | 162.92% | -205.74% | -104.85% | 262.18% | 273.13% | -440.51% | -123.46% | -54.98% | 15.33% | -22.53% | 119.73% | 82.48% | -80.92% | -51.73% | 2864.34% | 91.18% | 43.75% | -307.21% | -282.54% | -44.68% | 19.55% | 1846.6% | -106.97% | 355.15% | -126.34% | -44.27% | 14.65% | 180.1% | -205.95% | -19.21% |
| Net Income (Continuing) | 5.36M | 6.1M | -9.7M | -3.17M | 25.36M | 16.92M | -11.48M | -1.93M | 8.22M | 18.26M | 15.83M | 20.43M | 9.3M | 5.1M | 26.71M | 55.34M | -2M | -22.7M | -40.35M | -9.91M | 5.43M | 9.81M | 8.21M | 4.41M | 6.74M | -2.64M | 10.4M | 18M | 15.7M | -19.6M | 18.5M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 39.98M | 1.12M | 1.06M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.62 | 0.70 | -1.11 | -0.36 | 2.70 | 1.83 | -1.05 | -0.19 | 0.77 | 1.70 | 1.46 | 1.88 | 0.87 | 0.47 | 2.41 | 4.79 | -0.17 | -1.99 | -3.46 | -0.84 | 0.46 | 0.82 | 0.69 | -0.04 | 0.57 | -0.23 | 0.85 | 1.44 | 1.20 | -1.50 | 1.39 |
| EPS Growth % | 83.03% | 163.06% | -208.33% | -113.33% | 47.54% | 274.29% | -452.63% | -124.68% | -54.71% | 16.44% | -22.34% | 116.09% | 85.11% | -80.5% | -49.69% | 2917.65% | 91.46% | 42.49% | -311.9% | -282.61% | -43.9% | 18.84% | 1825% | -107.02% | 347.83% | -127.06% | -40.97% | 20% | 180% | -207.91% | -14.72% |
| EPS (Basic) | - | 0.70 | -1.11 | -0.36 | 2.70 | 1.83 | -1.05 | -0.19 | 0.77 | 1.71 | 1.47 | 1.91 | 0.88 | 0.48 | 2.43 | 4.84 | -0.17 | -1.99 | -3.46 | -0.84 | 0.46 | 0.83 | 0.70 | -0.04 | 0.58 | -0.23 | 0.85 | 1.44 | 1.21 | -1.50 | 1.39 |
| Diluted Shares Outstanding | 8.71M | 8.71M | 8.76M | 8.78M | 9.4M | 9.84M | 9.97M | 10.29M | 10.69M | 10.74M | 10.84M | 10.87M | 10.69M | 10.84M | 11.08M | 11.54M | 11.46M | 11.4M | 11.66M | 11.81M | 11.92M | 11.97M | 11.9M | 11.75M | 11.83M | 11.49M | 11.8M | 12.5M | 13.08M | 13.08M | 13.43M |
| Basic Shares Outstanding | 8.68M | 8.68M | 8.76M | 8.78M | 9.39M | 9.84M | 9.97M | 10.29M | 10.67M | 10.68M | 10.77M | 10.7M | 10.57M | 10.62M | 10.99M | 11.44M | 11.46M | 11.4M | 11.66M | 11.81M | 11.81M | 11.78M | 11.68M | 11.61M | 11.62M | 11.49M | 11.8M | 12.5M | 12.98M | 13.07M | 13.31M |
| Dividend Payout Ratio | - | 113.75% | - | - | 30.85% | 42.62% | - | - | 107.08% | 42.31% | 39.87% | 28.32% | 55.44% | 57.59% | 80.26% | 1.26% | - | - | - | - | 174.05% | 96.12% | 113.96% | - | 138.82% | - | 94.67% | 55.56% | 66.24% | - | 57.3% |
Cyclical Housing Market Sensitivity
According to recent financial disclosures, BSET's revenue growth remains inconsistent, fluctuating between a 5.1% increase in 2025Q4 and a 2.2% decline in 2026Q1, reflecting the broader challenges of a housing market that continues to suppress demand for large-scale, high-end furniture sets across the company's retail footprint.
The erratic top-line performance suggests that the company is struggling to find a consistent growth catalyst in the current interest rate environment. Investors should monitor whether the recent divestiture of logistics assets will allow for a more focused retail strategy or if it removes a critical lever for driving customer delivery volume.
As reported in quarterly filings, BSET maintains a gross margin hovering near 56%, yet operating margins remain thin at 1.6% in 2026Q1, indicating that the company's high fixed-cost structure leaves little room for profitability when sales volume fails to meet the necessary threshold for operational absorption.
The disparity between gross and operating margins highlights a vulnerability to even minor fluctuations in revenue. This suggests that the company's current retail-heavy model may require further rationalization to improve bottom-line resilience during periods of cyclical downturn.
Based on the provided income statement data, BSET's SG&A expenses consistently consume the vast majority of gross profit, with operating income failing to scale meaningfully even during periods of modest revenue growth, which suggests a lack of operating leverage inherent in the current high-touch retail design model.
The inability to significantly expand operating margins during revenue upticks implies that the company's cost base is largely fixed rather than variable. This warrants further investigation into whether management can successfully implement cost-saving initiatives without compromising the specialized design services that differentiate the brand.
While BSET has returned to positive operating income, the 2026Q1 operating margin of 1.6% remains precarious, and as noted in historical filings, the company has previously experienced significant operating losses, suggesting that the current path to profitability may be more fragile than the recent quarterly figures imply.
Short-term improvements in net income may be masking underlying structural weaknesses in the core wholesale and retail segments. Investors should be cautious of assuming that the current level of profitability is sustainable without a meaningful recovery in the broader U.S. housing turnover rate.
Quick answers to the most common questions about buying BSET stock.
For fiscal year 2025, Bassett Furniture Industries, Incorporated (BSET) reported total revenue of $335.3M. This represents a 25.6% decline compared to $450.7M in 1996.
Bassett Furniture Industries, Incorporated (BSET) is profitable, generating $6.1M in net income for the fiscal year ending 2025 with a net profit margin of 1.8%.
Bassett Furniture Industries, Incorporated (BSET) reported an operating income of $7.8M, resulting in an operating profit margin of 2.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Bassett Furniture Industries, Incorporated (BSET) generated $188.7M in gross profit for the year, representing a gross profit margin of 56.3%. This demonstrates the company's core pricing power and production efficiency.