Flexsteel Industries, Inc. (FLXS) 10-Year Financial Performance & Capital Metrics

FLXS • • Industrial / General

Consumer CyclicalHome FurnishingsHome Furniture & FurnishingsResidential Upholstered Furniture

AboutFlexsteel Industries, Inc., together with its subsidiaries, operates as a manufacturer, importer, and online marketer of upholstered and wooden furniture for residential and contract markets in the United States. It offers upholstered furniture, such as sofas, loveseats, chairs, reclining and rocker-reclining chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, and bedroom furniture. The company distributes its products through e-commerce channels and dealer network. Flexsteel Industries, Inc. was founded in 1893 and is based in Dubuque, Iowa.Show more

Revenue $441M +6.9%
EBITDA $30M +43.6%
Net Income $20M +91.4%
EPS (Diluted) 3.55 +85.9%
Gross Margin 22.21% +5.1%
EBITDA Margin 6.86% +34.4%
Operating Margin 6.03% +45.8%
Net Margin 4.57% +79.1%
ROE 12.67% +75.6%
ROIC 9.9% +75.7%
Debt/Equity 0.35 -24.5%
Interest Coverage 380.21 +3350.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓High quality earnings: Operating CF exceeds net income
✓Trading at only 1.4x book value
✓Efficient asset utilization: 1.6x turnover

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-0.57%

5Y3.75%

3Y-6.77%

TTM5.81%

Profit (Net Income) CAGR

10Y-1.01%

5Y-

3Y121.56%

TTM61.72%

EPS CAGR

10Y2.08%

5Y-

3Y133.18%

TTM62.45%

ROCE

10Y Avg5.32%

5Y Avg8.87%

3Y Avg8.22%

Latest12.25%

Peer Comparison

Residential Upholstered Furniture

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LZBLa-Z-Boy Incorporated	1.62B	39.29	16.72	3.04%	4.29%	8.6%	6.97%	0.48
FLXSFlexsteel Industries, Inc.	223.12M	41.78	11.77	6.86%	5.04%	13.07%	15.11%	0.35
NTZNatuzzi S.p.A.	33.15M	3.01	-2.15	-2.99%	-5.59%	-32.74%		1.71

Profit & Loss

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Sales/Revenue+	500.11M	468.76M	489.18M	443.59M	366.93M	478.93M	544.28M	393.69M	412.75M	441.07M
Revenue Growth %	0.07%	-0.06%	0.04%	-0.09%	-0.17%	0.31%	0.14%	-0.28%	0.05%	0.07%
Cost of Goods Sold+	386.41M	360.11M	390.96M	373.65M	313.87M	382.19M	471.6M	322.75M	325.51M	343.13M
COGS % of Revenue	0.77%	0.77%	0.8%	0.84%	0.86%	0.8%	0.87%	0.82%	0.79%	0.78%
Gross Profit+	113.7M	108.65M	98.22M	69.94M	53.05M	96.73M	72.68M	70.95M	87.24M	97.94M
Gross Margin %	0.23%	0.23%	0.2%	0.16%	0.14%	0.2%	0.13%	0.18%	0.21%	0.22%
Gross Profit Growth %	0.03%	-0.04%	-0.1%	-0.29%	-0.24%	0.82%	-0.25%	-0.02%	0.23%	0.12%
Operating Expenses+	75.63M	71.39M	73.71M	113.09M	87.45M	65.53M	66.06M	60.41M	70.16M	71.33M
OpEx % of Revenue	0.15%	0.15%	0.15%	0.25%	0.24%	0.14%	0.12%	0.15%	0.17%	0.16%
Selling, General & Admin	77.91M	72.56M	71.95M	81.3M	72.44M	67.98M	66.73M	62.85M	70.44M	66.7M
SG&A % of Revenue	0.16%	0.15%	0.15%	0.18%	0.2%	0.14%	0.12%	0.16%	0.17%	0.15%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-2.28M	-1.18M	1.76M	31.8M	15.01M	-2.45M	-670K	-2.44M	-280K	4.63M
Operating Income+	38.07M	37.26M	24.5M	-43.15M	-34.4M	31.2M	6.62M	10.54M	17.08M	26.61M
Operating Margin %	0.08%	0.08%	0.05%	-0.1%	-0.09%	0.07%	0.01%	0.03%	0.04%	0.06%
Operating Income Growth %	0.11%	-0.02%	-0.34%	-2.76%	0.2%	1.91%	-0.79%	0.59%	0.62%	0.56%
EBITDA+	45.62M	45.2M	31.87M	-35.71M	-26.02M	36.41M	11.79M	15.11M	21.08M	30.27M
EBITDA Margin %	0.09%	0.1%	0.07%	-0.08%	-0.07%	0.08%	0.02%	0.04%	0.05%	0.07%
EBITDA Growth %	0.16%	-0.01%	-0.29%	-2.12%	0.27%	2.4%	-0.68%	0.28%	0.39%	0.44%
D&A (Non-Cash Add-back)	7.56M	7.94M	7.37M	7.44M	8.37M	5.21M	5.17M	4.57M	4M	3.65M
EBIT	38M	37.59M	25.13M	-42.61M	-33.67M	31.48M	6.74M	10.56M	17.1M	27.04M
Net Interest Income+	-69K	0	0	0	-82K	-10K	-835K	-1.34M	-1.55M	351K
Interest Income	0	0	0	0	0	0	0	0	0	421K
Interest Expense	69K	0	0	0	82K	10K	835K	1.34M	1.55M	70K
Other Income/Expense	-141K	322K	621K	546K	638K	267K	-714K	-1.32M	-1.53M	351K
Pretax Income+	37.93M	37.59M	25.13M	-42.61M	-33.76M	31.47M	5.9M	9.22M	15.55M	26.97M
Pretax Margin %	0.08%	0.08%	0.05%	-0.1%	-0.09%	0.07%	0.01%	0.02%	0.04%	0.06%
Income Tax+	13.69M	13.8M	7.46M	-10M	-6.91M	8.42M	4.05M	-5.56M	5.02M	6.81M
Effective Tax Rate %	0.64%	0.63%	0.7%	0.77%	0.8%	0.73%	0.31%	1.6%	0.68%	0.75%
Net Income+	24.24M	23.79M	17.67M	-32.6M	-26.84M	23.05M	1.85M	14.78M	10.53M	20.15M
Net Margin %	0.05%	0.05%	0.04%	-0.07%	-0.07%	0.05%	0%	0.04%	0.03%	0.05%
Net Income Growth %	0.09%	-0.02%	-0.26%	-2.85%	0.18%	1.86%	-0.92%	6.98%	-0.29%	0.91%
Net Income (Continuing)	24.24M	23.79M	17.67M	-32.6M	-26.84M	23.05M	1.85M	14.78M	10.53M	20.15M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	3.12	3.02	2.23	-4.13	-3.37	3.09	0.28	2.74	1.91	3.55
EPS Growth %	0.08%	-0.03%	-0.26%	-2.85%	0.18%	1.92%	-0.91%	8.79%	-0.3%	0.86%
EPS (Basic)	3.19	3.06	2.25	-4.13	-3.37	3.20	0.29	2.83	2.04	3.84
Diluted Shares Outstanding	7.76M	7.89M	7.92M	7.89M	7.96M	7.47M	6.5M	5.38M	5.52M	5.68M
Basic Shares Outstanding	7.59M	7.78M	7.85M	7.89M	7.96M	7.2M	6.33M	5.22M	5.17M	5.25M
Dividend Payout Ratio	0.23%	0.25%	0.38%	-	-	0.11%	2.11%	0.22%	0.31%	0.18%

Balance Sheet

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Total Current Assets+	176.44M	195.25M	189.63M	165.97M	181.84M	228.54M	190.07M	170.64M	155.38M	172.37M
Cash & Short-Term Investments	36.78M	46.83M	43.7M	22.25M	48.2M	1.34M	2.18M	3.37M	4.76M	40.01M
Cash Only	36.78M	28.87M	27.75M	22.25M	48.2M	1.34M	2.18M	3.37M	4.76M	40.01M
Short-Term Investments	0	17.96M	15.95M	0	0	0	0	0	0	0
Accounts Receivable	44.62M	42.36M	41.25M	38.16M	32.22M	55.99M	41.11M	38.17M	44.24M	35.23M
Days Sales Outstanding	32.56	32.98	30.78	31.4	32.05	42.67	27.57	35.39	39.12	29.15
Inventory	85.9M	99.4M	96.2M	93.66M	70.56M	161.13M	141.21M	122.08M	96.58M	89.14M
Days Inventory Outstanding	81.14	100.75	89.82	91.49	82.06	153.88	109.29	138.06	108.29	94.82
Other Current Assets	9.14M	6.66M	8.48M	11.9M	30.86M	10.09M	5.57M	7.03M	9.8M	8M
Total Non-Current Assets+	70.45M	74.8M	94.66M	88.32M	55.42M	68.24M	78.67M	119.91M	119.08M	110.11M
Property, Plant & Equipment	64.12M	70.66M	90.72M	79.24M	51.99M	66.84M	76.73M	106.95M	98.15M	77.76M
Fixed Asset Turnover	7.80x	6.63x	5.39x	5.60x	7.06x	7.17x	7.09x	3.68x	4.21x	5.67x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0	19.04M
Other Non-Current Assets	2.67M	2.39M	2.48M	1.52M	1.31M	1.4M	1.94M	5.81M	12.33M	872K
Total Assets+	246.9M	270.05M	284.29M	254.29M	237.26M	296.78M	268.74M	290.55M	274.46M	282.49M
Asset Turnover	2.03x	1.74x	1.72x	1.74x	1.55x	1.61x	2.03x	1.35x	1.50x	1.56x
Asset Growth %	0.01%	0.09%	0.05%	-0.11%	-0.07%	0.25%	-0.09%	0.08%	-0.06%	0.03%
Total Current Liabilities+	33.36M	37.2M	40.93M	47.76M	53.46M	99.75M	64.63M	55.1M	60.41M	62.01M
Accounts Payable	11.02M	16.76M	17.23M	18.41M	27.75M	67.77M	32.15M	24.75M	25.83M	25.62M
Days Payables Outstanding	10.41	16.99	16.08	17.99	32.27	64.72	24.88	27.98	28.96	27.25
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	0	0	3.6M	3.6M	3.6M	3.57M	3.57M	0	0	0
Current Ratio	5.29x	5.25x	4.63x	3.47x	3.40x	2.29x	2.94x	3.10x	2.57x	2.78x
Quick Ratio	2.71x	2.58x	2.28x	1.51x	2.08x	0.68x	0.76x	0.88x	0.97x	1.34x
Cash Conversion Cycle	103.3	116.75	104.51	104.9	81.84	131.82	111.98	145.46	118.45	96.72
Total Non-Current Liabilities+	3.89M	2.09M	1.67M	1.1M	8.29M	29.06M	72.55M	93.82M	63.69M	52.61M
Long-Term Debt	0	0	0	0	0	3.5M	37.74M	28.27M	4.82M	0
Capital Lease Obligations	0	0	0	0	7.61M	24.32M	33.99M	64.97M	58.08M	51.56M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	3.89M	2.09M	1.67M	1.1M	685K	1.24M	823K	577K	791K	1.05M
Total Liabilities	37.25M	39.28M	42.59M	48.86M	61.75M	128.81M	137.18M	148.93M	124.09M	114.62M
Total Debt+	0	0	0	0	12.02M	33.65M	78.09M	100.43M	70.42M	59.37M
Net Debt	-36.78M	-28.87M	-27.75M	-22.25M	-36.18M	32.31M	75.91M	97.06M	65.65M	19.36M
Debt / Equity	-	-	-	-	0.07x	0.20x	0.59x	0.71x	0.47x	0.35x
Debt / EBITDA	-	-	-	-	-	0.92x	6.62x	6.64x	3.34x	1.96x
Net Debt / EBITDA	-0.81x	-0.64x	-0.87x	-	-	0.89x	6.44x	6.42x	3.11x	0.64x
Interest Coverage	551.71x	-	-	-	-419.45x	3120.00x	7.92x	7.86x	11.02x	380.21x
Total Equity+	209.65M	230.76M	241.7M	205.43M	175.5M	167.97M	131.56M	141.62M	150.37M	167.86M
Equity Growth %	0.12%	0.1%	0.05%	-0.15%	-0.15%	-0.04%	-0.22%	0.08%	0.06%	0.12%
Book Value per Share	27.00	29.26	30.52	26.04	22.06	22.49	20.23	26.30	27.25	29.56
Total Shareholders' Equity	209.65M	230.76M	241.7M	205.43M	175.5M	167.97M	131.56M	141.62M	150.37M	167.86M
Common Stock	7.7M	7.82M	7.87M	7.9M	8.01M	8.13M	8.19M	8.29M	8.41M	8.51M
Retained Earnings	180.92M	198.47M	209.55M	170M	137.31M	157.14M	155.28M	166.8M	174.12M	190.44M
Treasury Stock	0	0	0	0	-1.56M	-31.32M	-66.37M	-70.07M	-71.73M	-71.73M
Accumulated OCI	-2.23M	-1.71M	-2.04M	8K	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	54.37M	26.39M	27.29M	6.71M	18.29M	-32.69M	7.99M	22.99M	31.88M	36.98M
Operating CF Margin %	0.11%	0.06%	0.06%	0.02%	0.05%	-0.07%	0.01%	0.06%	0.08%	0.08%
Operating CF Growth %	15.63%	-0.51%	0.03%	-0.75%	1.72%	-2.79%	1.24%	1.88%	0.39%	0.16%
Net Income	24.24M	23.79M	17.67M	-32.6M	-26.84M	23.05M	1.85M	14.78M	10.53M	20.15M
Depreciation & Amortization	7.56M	7.94M	7.37M	7.44M	8.37M	5.21M	5.17M	4.57M	4M	3.65M
Stock-Based Compensation	1.47M	1.61M	501K	1.35M	4.88M	3.74M	1.02M	3.19M	4.65M	3.87M
Deferred Taxes	2.73M	1.61M	286K	-3.51M	3.46M	1.87M	0	-7.15M	-1.45M	-3.84M
Other Non-Cash Items	-2.24M	-2.11M	-1.89M	23.62M	2.85M	-4.48M	-2.04M	-693K	-3M	4.39M
Working Capital Changes	20.61M	-6.44M	3.37M	10.42M	25.58M	-62.08M	1.99M	8.29M	17.16M	8.75M
Change in Receivables	584K	2.36M	1.21M	3.14M	4.42M	-25.24M	15.14M	3.32M	-5.91M	9.25M
Change in Inventory	27.94M	-13.49M	3.19M	2.54M	23.09M	-90.56M	19.91M	19.14M	25.5M	7.44M
Change in Payables	-6.88M	4.03M	-1.87M	5.13M	9.33M	39.89M	-35.81M	-7.32M	1.37M	-579K
Cash from Investing+	-4.69M	-29.67M	-21.35M	-5.17M	16.79M	16.06M	-1.92M	-4.45M	-593K	9.43M
Capital Expenditures	-7.38M	-13.46M	-29.45M	-21.35M	-3.69M	-2.58M	-3.85M	-4.79M	-4.77M	-3.26M
CapEx % of Revenue	0.01%	0.03%	0.06%	0.05%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	2.89M	1.85M	6.15M	248K	20.47M	18.64M	1.94M	340K	4.18M	11.54M
Cash from Financing+	-14.18M	-4.62M	-7.07M	-7.05M	-9.12M	-30.23M	-5.24M	-17.36M	-29.89M	-11.17M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-5.46M	-6.06M	-6.75M	-6.92M	-7.02M	-2.62M	-3.91M	-3.24M	-3.22M	-3.56M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	1.76M	1.49M	-552K	0	-558K	-1.44M	-628K	-951K	-1.65M	-2.83M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	46.98M	12.93M	-2.15M	-14.63M	14.6M	-35.27M	4.14M	18.2M	27.11M	33.72M
FCF Margin %	0.09%	0.03%	-0%	-0.03%	0.04%	-0.07%	0.01%	0.05%	0.07%	0.08%
FCF Growth %	2.38%	-0.72%	-1.17%	-5.8%	2%	-3.42%	1.12%	3.4%	0.49%	0.24%
FCF per Share	6.05	1.64	-0.27	-1.85	1.83	-4.72	0.64	3.38	4.91	5.94
FCF Conversion (FCF/Net Income)	2.24x	1.11x	1.55x	-0.21x	-0.68x	-1.42x	4.31x	1.56x	3.03x	1.83x
Interest Paid	0	0	0	0	82K	10K	743K	1.07M	1.69M	107K
Taxes Paid	10.14M	9.78M	8.46M	1.19M	0	5.56M	823K	4.1M	4.3M	9.4M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	12.23%	10.8%	7.48%	-14.58%	-14.09%	13.42%	1.24%	10.82%	7.21%	12.67%
Return on Invested Capital (ROIC)	15.42%	14.92%	8.84%	-16.3%	-16%	13.78%	2.43%	3.54%	5.63%	9.9%
Gross Margin	22.73%	23.18%	20.08%	15.77%	14.46%	20.2%	13.35%	18.02%	21.14%	22.21%
Net Margin	4.85%	5.07%	3.61%	-7.35%	-7.32%	4.81%	0.34%	3.75%	2.55%	4.57%
Debt / Equity	-	-	-	-	0.07x	0.20x	0.59x	0.71x	0.47x	0.35x
Interest Coverage	551.71x	-	-	-	-419.45x	3120.00x	7.92x	7.86x	11.02x	380.21x
FCF Conversion	2.24x	1.11x	1.55x	-0.21x	-0.68x	-1.42x	4.31x	1.56x	3.03x	1.83x
Revenue Growth	7.11%	-6.27%	4.36%	-9.32%	-17.28%	30.52%	13.65%	-27.67%	4.84%	6.86%

Revenue by Segment

	2012	2013	2014	2015	2019	2020	2021	2022	2023
Residential	275.44M	311.21M	359.56M	393.14M	374.5M	331.88M	476.52M	543.45M	393.69M
Residential Growth	-	12.99%	15.54%	9.34%	-4.74%	-11.38%	43.58%	14.05%	-27.56%
Contract Product	-	-	-	-	69.1M	35.05M	2.41M	835K	-
Contract Product Growth	-	-	-	-	-	-49.28%	-93.13%	-65.30%	-
Commercial	76.65M	74.97M	78.98M	73.76M	-	-	-	-	-
Commercial Growth	-	-2.18%	5.34%	-6.61%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Flexsteel Industries, Inc. (FLXS) has a price-to-earnings (P/E) ratio of 11.8x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Flexsteel Industries, Inc. (FLXS) reported $446.7M in revenue for fiscal year 2025. This represents a 27% increase from $352.1M in 2012.

Flexsteel Industries, Inc. (FLXS) grew revenue by 6.9% over the past year. This is steady growth.

Yes, Flexsteel Industries, Inc. (FLXS) is profitable, generating $22.5M in net income for fiscal year 2025 (4.6% net margin).

Dividend & Returns

Yes, Flexsteel Industries, Inc. (FLXS) pays a dividend with a yield of 1.50%. This makes it attractive for income-focused investors.

Flexsteel Industries, Inc. (FLXS) has a return on equity (ROE) of 12.7%. This is reasonable for most industries.

Flexsteel Industries, Inc. (FLXS) generated $34.5M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

...