Haverty Furniture Companies, Inc. (HVT) 10-Year Financial Performance & Capital Metrics

HVT • • Industrial / General

Consumer CyclicalHome Improvement RetailHome Furnishings RetailMid-Market Furniture Retailers

AboutHaverty Furniture Companies, Inc. operates as a specialty retailer of residential furniture and accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products and eclectic looks; and mattress product lines under the Sealy, Stearns and Foster, Tempur-Pedic, and Serta names, as well as private label Skye name. The company sells home furnishings through its retail stores, as well as through its Website. As of December 31, 2021, it operated 121 showrooms in 16 states in the Southern and Midwestern regions. Haverty Furniture Companies, Inc. was founded in 1885 and is headquartered in Atlanta, Georgia.Show more

Revenue $723M -16.1%
EBITDA $41M -51.7%
Net Income $20M -64.6%
EPS (Diluted) 1.19 -64.6%
Gross Margin 60.74% +0.1%
EBITDA Margin 5.74% -42.4%
Operating Margin 2.75% -64.8%
Net Margin 2.76% -57.7%
ROE 6.48% -65.6%
ROIC 3.67% -71.2%
Debt/Equity 0.71 +0.5%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Good 3Y average ROE of 19.4%
✓Healthy dividend yield of 4.7%
✓Trading near 52-week high
✓Trading at only 1.4x book value
✓Efficient asset utilization: 1.1x turnover

✗Weaknesses

✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-0.61%

5Y-2.06%

3Y-10.63%

TTM-1.05%

Profit (Net Income) CAGR

10Y8.8%

5Y-1.81%

3Y-39.65%

TTM-69.33%

EPS CAGR

10Y12.39%

5Y1.96%

3Y-37.61%

TTM-69.38%

ROCE

10Y Avg12.97%

5Y Avg15.1%

3Y Avg13.82%

Latest3.84%

Peer Comparison

Mid-Market Furniture Retailers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
HVTHaverty Furniture Companies, Inc.	394.53M	26.22	22.03	-16.15%	1.11%	2.68%	6.8%	0.71

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	804.87M	821.57M	819.87M	817.73M	802.29M	748.25M	1.01B	1.05B	862.13M	722.9M
Revenue Growth %	0.05%	0.02%	-0%	-0%	-0.02%	-0.07%	0.35%	0.03%	-0.18%	-0.16%
Cost of Goods Sold+	374.09M	378.23M	374.94M	371.19M	367.8M	329.26M	438.17M	442.99M	339.04M	283.82M
COGS % of Revenue	0.46%	0.46%	0.46%	0.45%	0.46%	0.44%	0.43%	0.42%	0.39%	0.39%
Gross Profit+	430.78M	443.34M	444.92M	446.54M	434.49M	418.99M	574.63M	604.23M	523.09M	439.08M
Gross Margin %	0.54%	0.54%	0.54%	0.55%	0.54%	0.56%	0.57%	0.58%	0.61%	0.61%
Gross Profit Growth %	0.04%	0.03%	0%	0%	-0.03%	-0.04%	0.37%	0.05%	-0.13%	-0.16%
Operating Expenses+	384.83M	399.39M	402.95M	404.86M	407.46M	377.29M	456.27M	486.3M	455.81M	419.22M
OpEx % of Revenue	0.48%	0.49%	0.49%	0.5%	0.51%	0.5%	0.45%	0.46%	0.53%	0.58%
Selling, General & Admin	384.8M	399.24M	402.88M	404.86M	407.46M	377.29M	456.27M	486.3M	455.81M	419.22M
SG&A % of Revenue	0.48%	0.49%	0.49%	0.5%	0.51%	0.5%	0.45%	0.46%	0.53%	0.58%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	28K	154K	63K	0	0	0	0	0	0	0
Operating Income+	45.95M	43.95M	41.98M	41.69M	27.03M	41.71M	118.36M	117.93M	67.28M	19.86M
Operating Margin %	0.06%	0.05%	0.05%	0.05%	0.03%	0.06%	0.12%	0.11%	0.08%	0.03%
Operating Income Growth %	0.76%	-0.04%	-0.04%	-0.01%	-0.35%	0.54%	1.84%	-0%	-0.43%	-0.7%
EBITDA+	71.7M	72.99M	72.49M	71.49M	47.63M	59.91M	134.66M	134.85M	85.88M	41.47M
EBITDA Margin %	0.09%	0.09%	0.09%	0.09%	0.06%	0.08%	0.13%	0.13%	0.1%	0.06%
EBITDA Growth %	0.47%	0.02%	-0.01%	-0.01%	-0.33%	0.26%	1.25%	0%	-0.36%	-0.52%
D&A (Non-Cash Add-back)	25.76M	29.05M	30.52M	29.81M	20.6M	18.21M	16.3M	16.93M	18.6M	21.61M
EBIT	45.95M	43.95M	41.98M	41.69M	27.03M	41.71M	118.36M	117.93M	67.28M	19.86M
Net Interest Income+	-2.29M	-2.23M	-2.11M	-1.42M	1.29M	126K	231K	1.62M	5.51M	6.08M
Interest Income	326K	335K	401K	1.03M	1.29M	126K	231K	1.62M	5.51M	6.08M
Interest Expense	2.62M	2.57M	2.51M	2.45M	0	0	0	0	0	0
Other Income/Expense	-672K	1.87M	1.25M	-1.28M	1.69M	35.02M	177K	1.57M	5.43M	6.3M
Pretax Income+	45.27M	45.82M	43.22M	40.41M	28.72M	76.73M	118.53M	119.5M	72.71M	26.15M
Pretax Margin %	0.06%	0.06%	0.05%	0.05%	0.04%	0.1%	0.12%	0.11%	0.08%	0.04%
Income Tax+	17.49M	17.46M	22.15M	10.1M	6.86M	17.58M	27.73M	30.14M	16.39M	6.2M
Effective Tax Rate %	0.61%	0.62%	0.49%	0.75%	0.76%	0.77%	0.77%	0.75%	0.77%	0.76%
Net Income+	27.79M	28.36M	21.07M	30.31M	21.86M	59.15M	90.8M	89.36M	56.32M	19.96M
Net Margin %	0.03%	0.03%	0.03%	0.04%	0.03%	0.08%	0.09%	0.09%	0.07%	0.03%
Net Income Growth %	2.24%	0.02%	-0.26%	0.44%	-0.28%	1.71%	0.54%	-0.02%	-0.37%	-0.65%
Net Income (Continuing)	27.79M	28.36M	21.07M	30.31M	21.86M	59.15M	90.8M	89.36M	56.32M	19.96M
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)+	1.22	1.30	0.98	1.42	1.08	3.12	4.90	5.24	3.36	1.19
EPS Growth %	2.3%	0.07%	-0.25%	0.45%	-0.24%	1.89%	0.57%	0.07%	-0.36%	-0.65%
EPS (Basic)	1.24	1.32	0.99	1.48	1.10	3.17	5.03	5.87	3.76	1.22
Diluted Shares Outstanding	22.8M	21.85M	21.6M	21.3M	20.18M	18.93M	18.54M	17.04M	16.77M	16.75M
Basic Shares Outstanding	22.5M	21.51M	21.22M	20.54M	19.89M	18.65M	18.04M	15.23M	14.99M	16.34M
Dividend Payout Ratio	0.29%	1.07%	0.54%	1.17%	0.69%	0.85%	0.58%	0.38%	0.63%	1.03%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	218.71M	194.12M	210.69M	201.85M	204.52M	316.24M	309.06M	276.25M	251.59M	238.9M
Cash & Short-Term Investments	83.38M	63.48M	79.49M	71.54M	75.74M	200.06M	166.15M	123.13M	120.64M	120.03M
Cash Only	70.66M	63.48M	79.49M	71.54M	75.74M	200.06M	166.15M	123.13M	120.64M	120.03M
Short-Term Investments	12.72M	0	0	0	0	0	0	0	0	0
Accounts Receivable	5.95M	4.24M	2.41M	1.83M	1.53M	0	0	0	0	0
Days Sales Outstanding	2.7	1.89	1.07	0.82	0.69	-	-	-	-	-
Inventory	108.9M	102.02M	103.44M	105.84M	104.82M	89.91M	112.03M	118.33M	93.96M	83.42M
Days Inventory Outstanding	106.25	98.45	100.69	104.07	104.02	99.67	93.32	97.5	101.15	107.28
Other Current Assets	14.35M	15.53M	14.04M	14.53M	14.79M	16.7M	18.46M	25.09M	19.93M	20.87M
Total Non-Current Assets+	252.54M	260.39M	250.64M	238.33M	355.55M	364.13M	377.23M	372.8M	402.54M	409.85M
Property, Plant & Equipment	229.28M	233.67M	229.22M	216.85M	332.01M	337.12M	348.45M	344.87M	373.89M	377.03M
Fixed Asset Turnover	3.51x	3.52x	3.58x	3.77x	2.42x	2.22x	2.91x	3.04x	2.31x	1.92x
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	655K	462K	254K	226K	0	0	0	0	0	0
Other Non-Current Assets	6.01M	8.35M	9.05M	8.93M	10.34M	11.2M	12.4M	12.43M	13.01M	15.74M
Total Assets+	471.25M	454.5M	461.33M	440.18M	560.07M	680.37M	686.29M	649.05M	654.13M	648.75M
Asset Turnover	1.71x	1.81x	1.78x	1.86x	1.43x	1.10x	1.48x	1.61x	1.32x	1.11x
Asset Growth %	0.02%	-0.04%	0.02%	-0.05%	0.27%	0.21%	0.01%	-0.05%	0.01%	-0.01%
Total Current Liabilities+	93.96M	95.95M	89.68M	88.23M	127.02M	204.04M	210.38M	154.43M	138.26M	131.56M
Accounts Payable	27.82M	25.66M	20.5M	19.84M	27.83M	31.43M	31.23M	23.34M	18.78M	14.91M
Days Payables Outstanding	27.14	24.76	19.96	19.51	27.62	34.84	26.02	19.23	20.22	19.18
Short-Term Debt	3.05M	3.46M	3.79M	4.02M	0	0	0	0	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	25.61M	28.36M	24.38M	23.45M	17.75M	27.37M	26.92M	28.15M	26.98M	0
Current Ratio	2.33x	2.02x	2.35x	2.29x	1.61x	1.55x	1.47x	1.79x	1.82x	1.82x
Quick Ratio	1.17x	0.96x	1.20x	1.09x	0.78x	1.11x	0.94x	1.02x	1.14x	1.18x
Cash Conversion Cycle	81.81	75.57	81.81	85.38	77.09	-	-	-	-	-
Total Non-Current Liabilities+	75.55M	76.68M	77.5M	77.32M	172.55M	223.36M	219.94M	205.22M	207.5M	209.62M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	50.07M	52.01M	50.8M	46.78M	149.59M	200.2M	196.77M	186.84M	180.4M	182.1M
Deferred Tax Liabilities	10.18M	11.42M	7.57M	8.2M	0	0	0	0	0	0
Other Non-Current Liabilities	25.48M	24.67M	26.7M	30.54M	22.96M	23.16M	23.17M	18.37M	27.11M	27.52M
Total Liabilities	169.51M	172.63M	167.19M	165.55M	299.57M	427.4M	430.32M	359.65M	345.77M	341.19M
Total Debt+	53.13M	55.47M	54.59M	50.8M	179M	233.67M	230.35M	221.29M	217.75M	218.38M
Net Debt	-17.53M	-8.01M	-24.9M	-20.73M	103.27M	33.61M	64.21M	98.16M	97.12M	98.34M
Debt / Equity	0.18x	0.20x	0.19x	0.18x	0.69x	0.92x	0.90x	0.76x	0.71x	0.71x
Debt / EBITDA	0.74x	0.76x	0.75x	0.71x	3.76x	3.90x	1.71x	1.64x	2.54x	5.27x
Net Debt / EBITDA	-0.24x	-0.11x	-0.34x	-0.29x	2.17x	0.56x	0.48x	0.73x	1.13x	2.37x
Interest Coverage	17.57x	17.11x	16.71x	17.01x	-	-	-	-	-	-
Total Equity+	301.74M	281.87M	294.14M	274.63M	260.5M	252.97M	255.97M	289.4M	308.37M	307.56M
Equity Growth %	0.03%	-0.07%	0.04%	-0.07%	-0.05%	-0.03%	0.01%	0.13%	0.07%	-0%
Book Value per Share	13.24	12.90	13.62	12.90	12.91	13.36	13.80	16.99	18.38	18.37
Total Shareholders' Equity	301.74M	281.87M	294.14M	274.63M	260.5M	252.97M	255.97M	289.4M	308.37M	307.56M
Common Stock	31.04M	31.13M	31.24M	31.36M	31.48M	31.6M	31.72M	31.81M	32.02M	32.21M
Retained Earnings	279.76M	277.71M	287.39M	282.37M	296M	304.63M	342.98M	398.39M	419.47M	418.96M
Treasury Stock	-90.3M	-111.41M	-111.32M	-129.03M	-158.1M	-177.54M	-219.01M	-248.76M	-255.45M	-260M
Accumulated OCI	-1.94M	-1.83M	-2.14M	-1.47M	-2.09M	-2.56M	-2.29M	-756K	-983K	-869K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	52.23M	60.05M	52.46M	70.39M	63.42M	130.19M	97.24M	51.02M	97.2M	58.91M
Operating CF Margin %	0.06%	0.07%	0.06%	0.09%	0.08%	0.17%	0.1%	0.05%	0.11%	0.08%
Operating CF Growth %	-0.06%	0.15%	-0.13%	0.34%	-0.1%	1.05%	-0.25%	-0.48%	0.91%	-0.39%
Net Income	27.79M	28.36M	21.07M	30.31M	21.86M	59.15M	90.8M	89.36M	56.32M	19.96M
Depreciation & Amortization	25.76M	29.05M	30.52M	29.81M	20.6M	18.21M	16.3M	16.93M	18.6M	21.61M
Stock-Based Compensation	4.03M	3.87M	3.82M	4.36M	3.44M	4.38M	8.21M	7.2M	8.01M	6.74M
Deferred Taxes	-3.02M	-1.12M	5.56M	-439K	-2.69M	-2.46M	234K	361K	-1.17M	-1.47M
Other Non-Cash Items	-243K	-836K	325K	890K	3.12M	-34.15M	792K	1.09M	1.23M	970K
Working Capital Changes	-2.08M	737K	-8.84M	5.47M	17.09M	85.07M	-19.1M	-63.91M	14.21M	11.1M
Change in Receivables	960K	1.51M	1.82M	535K	247K	0	6.45M	0	0	0
Change in Inventory	-2.31M	6.88M	-2.11M	-2.4M	1.02M	14.91M	-22.12M	-6.3M	24.38M	10.54M
Change in Payables	2.5M	-2.03M	-10.5M	1.49M	0	0	-6.45M	-5.98M	-6.68M	-11.38M
Cash from Investing+	-28.36M	-13.19M	-21.61M	-18.97M	-14.57M	65.36M	-34M	-28.32M	-53.06M	-31.63M
Capital Expenditures	-27.14M	-29.84M	-24.46M	-21.47M	-16.84M	-10.93M	-34.09M	-28.41M	-53.12M	-32.09M
CapEx % of Revenue	0.03%	0.04%	0.03%	0.03%	0.02%	0.01%	0.03%	0.03%	0.06%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	1.51M	3.93M	2.86M	2.5M	2.27M	76.28M	88K	86K	53K	461K
Cash from Financing+	-18.7M	-54.05M	-14.84M	-59.22M	-46.26M	-71.18M	-97.15M	-65.62M	-46.29M	-28.74M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-8.06M	-30.41M	-11.39M	-35.46M	-15.06M	-50.52M	-52.45M	-33.95M	-35.24M	-20.47M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	5.9M	771K	35K	-1.23M	-1.44M	-951K	-2.89M	-1.68M	-4.16M	-3.28M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	25.09M	30.22M	27.99M	48.92M	46.58M	119.26M	63.15M	22.6M	44.09M	26.82M
FCF Margin %	0.03%	0.04%	0.03%	0.06%	0.06%	0.16%	0.06%	0.02%	0.05%	0.04%
FCF Growth %	0.02%	0.2%	-0.07%	0.75%	-0.05%	1.56%	-0.47%	-0.64%	0.95%	-0.39%
FCF per Share	1.10	1.38	1.30	2.30	2.31	6.30	3.41	1.33	2.63	1.60
FCF Conversion (FCF/Net Income)	1.88x	2.12x	2.49x	2.32x	2.90x	2.20x	1.07x	0.57x	1.73x	2.95x
Interest Paid	0	0	0	2.42M	126K	365K	126K	127K	162K	163K
Taxes Paid	0	0	0	8.41M	9.07M	18.17M	32.4M	27.96M	23.26M	3.4M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	9.36%	9.72%	7.32%	10.66%	8.17%	23.04%	35.68%	32.77%	18.84%	6.48%
Return on Invested Capital (ROIC)	12.31%	11.81%	11.59%	11.95%	6.56%	9.62%	29.26%	24.99%	12.73%	3.67%
Gross Margin	53.52%	53.96%	54.27%	54.61%	54.16%	56%	56.74%	57.7%	60.67%	60.74%
Net Margin	3.45%	3.45%	2.57%	3.71%	2.73%	7.9%	8.97%	8.53%	6.53%	2.76%
Debt / Equity	0.18x	0.20x	0.19x	0.18x	0.69x	0.92x	0.90x	0.76x	0.71x	0.71x
Interest Coverage	17.57x	17.11x	16.71x	17.01x	-	-	-	-	-	-
FCF Conversion	1.88x	2.12x	2.49x	2.32x	2.90x	2.20x	1.07x	0.57x	1.73x	2.95x
Revenue Growth	4.75%	2.08%	-0.21%	-0.26%	-1.89%	-6.74%	35.36%	3.4%	-17.67%	-16.15%

Revenue by Segment

	2022	2023	2024
Upholstery	445.31M	370.92M	322.62M
Upholstery Growth	-	-16.70%	-13.02%
Case Goods	371.85M	298.63M	235.03M
Case Goods Growth	-	-19.69%	-21.30%
Bedroom Furniture	168.43M	132.07M	102.94M
Bedroom Furniture Growth	-	-21.59%	-22.06%
Accessories and Other	144.85M	117.78M	99.6M
Accessories and Other Growth	-	-18.69%	-15.43%
Dining Room Furniture	118.14M	97.97M	78.36M
Dining Room Furniture Growth	-	-17.07%	-20.01%
Mattresses	85.21M	74.8M	65.65M
Mattresses Growth	-	-12.22%	-12.23%
Occasional	85.28M	68.59M	53.73M
Occasional Growth	-	-19.57%	-21.67%

Frequently Asked Questions

Valuation & Price

Haverty Furniture Companies, Inc. (HVT) has a price-to-earnings (P/E) ratio of 22.0x. This is roughly in line with market averages.

Growth & Financials

Haverty Furniture Companies, Inc. (HVT) reported $741.4M in revenue for fiscal year 2024. This represents a 19% increase from $620.9M in 2011.

Haverty Furniture Companies, Inc. (HVT) saw revenue decline by 16.1% over the past year.

Yes, Haverty Furniture Companies, Inc. (HVT) is profitable, generating $8.2M in net income for fiscal year 2024 (2.8% net margin).

Dividend & Returns

Yes, Haverty Furniture Companies, Inc. (HVT) pays a dividend with a yield of 4.66%. This makes it attractive for income-focused investors.

Haverty Furniture Companies, Inc. (HVT) has a return on equity (ROE) of 6.5%. This is below average, suggesting room for improvement.

Haverty Furniture Companies, Inc. (HVT) generated $39.1M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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