Virco Mfg. Corporation (VIRC) 10-Year Financial Performance & Capital Metrics

VIRC • • Industrial / General

Consumer CyclicalHome FurnishingsSpecialized & Commercial FurnitureCommercial & Laboratory Furniture

AboutVirco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States. It offers seating products, including 4-leg chairs, cantilever chairs, tablet armchairs with work surfaces and compact footprints, steel-frame and floor rockers, stools, series chairs, stack and folding chairs, hard plastic seating, upholstered stack and ergonomic chairs, and plastic stack chairs. The company also provides folding, activity, office, computer, and mobile tables; and computer furniture, such as keyboard mouse trays, CPU holders, support columns, desks and workstations, specialty tables, instructor media stations and towers, and other products. In addition, it offers chair desks, combo units, and tablet arm and caster units, as well as a returns and credenzas. Further, the company provides administrative office furniture, including desks, bookcases, storage cabinets, and other items, as well as wardrobe tower cabinets, file credenzas, and mobile pedestals; laboratory furniture comprising steel-based science tables, table bases, lab stools, and wood-frame science tables; mobile furniture, such as mobile tables for cafeterias, mobile cabinets, and mobile task chairs for school settings and offices; and handling and storage equipment, as well as manufactures stackable storage trucks. It serves educational institutions, convention centers and arenas, hospitality providers, government facilities, and places of worship through its sales and support teams, and dealer network. The company was incorporated in 1950 and is headquartered in Torrance, California.Show more

Revenue $266M -1.1%
EBITDA $34M -9.3%
Net Income $22M -1.2%
EPS (Diluted) 1.32 -1.5%
Gross Margin 43.08% -0.1%
EBITDA Margin 12.6% -8.3%
Operating Margin 10.46% -11.7%
Net Margin 8.13% -0.1%
ROE 21.6% -21.5%
ROIC 18.82% -19.9%
Debt/Equity 0.38 +191.8%
Interest Coverage 79.83 +570.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 25.9%
✓Strong 5Y profit CAGR of 55.5%
✓High quality earnings: Operating CF exceeds net income
✓Trading at only 1.0x book value
✓Efficient asset utilization: 1.4x turnover

✗Weaknesses

✗Weak momentum: RS Rating 18 (bottom 18%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y4.96%

5Y6.86%

3Y12.94%

TTM-15.99%

Profit (Net Income) CAGR

10Y38.24%

5Y55.48%

3Y-

TTM-49.28%

EPS CAGR

10Y36.22%

5Y54.49%

3Y-

TTM-47.49%

ROCE

10Y Avg7.68%

5Y Avg10.63%

3Y Avg19.04%

Latest20.98%

Peer Comparison

Commercial & Laboratory Furniture

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
KEQUKewaunee Scientific Corporation	108.92M	38.00	9.92	18.02%	4.11%	16.37%	11.58%	0.76
VIRCVirco Mfg. Corporation	100.4M	6.37	4.83	-1.07%	5.74%	11.78%	26.73%	0.38
ALHAlliance Laundry Holdings Inc.	4.51B	22.22	0.28	10.5%	7.08%	71.87%	2.26%
EFOIEnergy Focus, Inc.	14M	2.44	-7.63	-14.99%	-24.98%	-30.73%		0.13
MLKNMillerKnoll, Inc.	1.33B	19.50	-36.79	1.14%	-0.68%	-1.78%	7.64%	1.36

Profit & Loss

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Sales/Revenue+	168.59M	173.42M	189.29M	200.72M	191.06M	152.79M	184.83M	231.06M	269.12M	266.24M
Revenue Growth %	0.03%	0.03%	0.09%	0.06%	-0.05%	-0.2%	0.21%	0.25%	0.16%	-0.01%
Cost of Goods Sold+	108.98M	110.87M	123.82M	133.63M	119.39M	97.87M	123.9M	145.72M	153.06M	151.55M
COGS % of Revenue	0.65%	0.64%	0.65%	0.67%	0.62%	0.64%	0.67%	0.63%	0.57%	0.57%
Gross Profit+	59.61M	62.54M	65.47M	67.08M	71.67M	54.92M	60.93M	85.34M	116.06M	114.69M
Gross Margin %	0.35%	0.36%	0.35%	0.33%	0.38%	0.36%	0.33%	0.37%	0.43%	0.43%
Gross Profit Growth %	0.08%	0.05%	0.05%	0.02%	0.07%	-0.23%	0.11%	0.4%	0.36%	-0.01%
Operating Expenses+	53.66M	56.6M	61.53M	66.01M	66.49M	56.36M	63.46M	75.32M	84.18M	86.83M
OpEx % of Revenue	0.32%	0.33%	0.33%	0.33%	0.35%	0.37%	0.34%	0.33%	0.31%	0.33%
Selling, General & Admin	53.65M	56.6M	61.51M	66.01M	66.45M	56.37M	63.46M	75.51M	85.19M	85.53M
SG&A % of Revenue	0.32%	0.33%	0.32%	0.33%	0.35%	0.37%	0.34%	0.33%	0.32%	0.32%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	-1.01M	1.3M
Operating Income+	5.95M	5.94M	3.96M	2.33M	-580K	-1.44M	-2.53M	5.48M	31.88M	27.86M
Operating Margin %	0.04%	0.03%	0.02%	0.01%	-0%	-0.01%	-0.01%	0.02%	0.12%	0.1%
Operating Income Growth %	1.51%	-0%	-0.33%	-0.41%	-1.25%	-1.48%	-0.76%	3.16%	4.82%	-0.13%
EBITDA+	10.71M	10.97M	9.43M	8.12M	5.53M	4.23M	1.64M	9.48M	36.97M	33.55M
EBITDA Margin %	0.06%	0.06%	0.05%	0.04%	0.03%	0.03%	0.01%	0.04%	0.14%	0.13%
EBITDA Growth %	0.58%	0.02%	-0.14%	-0.14%	-0.32%	-0.23%	-0.61%	4.77%	2.9%	-0.09%
D&A (Non-Cash Add-back)	4.76M	5.03M	5.47M	5.79M	6.11M	5.67M	4.17M	4M	5.1M	5.69M
EBIT	5.96M	5.94M	3.94M	1.07M	5.19M	-1.45M	-2.53M	10.02M	31.92M	28.77M
Net Interest Income+	-1.28M	-1.22M	-1.54M	-2.19M	-2.46M	-1.54M	-1.2M	-1.98M	-2.68M	-349K
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	1.28M	1.22M	1.54M	2.19M	2.46M	1.54M	1.2M	1.98M	2.68M	349K
Other Income/Expense	-1.28M	-1.22M	-2.73M	-3.45M	-3.19M	-3.71M	-3.39M	-2.79M	-2.64M	565K
Pretax Income+	4.67M	4.73M	2.41M	-1.12M	2.73M	-2.98M	-3.73M	8.04M	29.24M	28.42M
Pretax Margin %	0.03%	0.03%	0.01%	-0.01%	0.01%	-0.02%	-0.02%	0.03%	0.11%	0.11%
Income Tax+	118K	-18.03M	5.62M	497K	345K	-744K	11.41M	-8.5M	7.33M	6.78M
Effective Tax Rate %	0.97%	4.81%	-1.33%	1.44%	0.87%	0.75%	4.06%	2.06%	0.75%	0.76%
Net Income+	4.55M	22.76M	-3.21M	-1.61M	2.38M	-2.23M	-15.14M	16.55M	21.91M	21.64M
Net Margin %	0.03%	0.13%	-0.02%	-0.01%	0.01%	-0.01%	-0.08%	0.07%	0.08%	0.08%
Net Income Growth %	4.36%	4%	-1.14%	0.5%	2.48%	-1.94%	-5.78%	2.09%	0.32%	-0.01%
Net Income (Continuing)	4.55M	22.76M	-3.21M	-1.61M	2.38M	-2.23M	-15.14M	16.55M	21.91M	21.64M
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)+	0.30	1.49	-0.21	-0.10	0.15	-0.14	-0.95	1.02	1.34	1.32
EPS Growth %	4%	3.97%	-1.14%	0.52%	2.5%	-1.93%	-5.79%	2.07%	0.31%	-0.01%
EPS (Basic)	0.31	1.51	-0.21	-0.10	0.15	-0.14	-0.95	1.03	1.34	1.32
Diluted Shares Outstanding	15.12M	15.27M	15.24M	15.42M	15.69M	15.76M	15.95M	16.19M	16.39M	16.37M
Basic Shares Outstanding	14.91M	15.07M	15.24M	15.42M	15.59M	15.76M	15.95M	16.14M	16.3M	16.36M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	0.01%	0.07%

Balance Sheet

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Total Current Assets+	46.77M	48.49M	55.71M	63.11M	58.34M	50.97M	68.85M	89.07M	89.03M	102.17M
Cash & Short-Term Investments	815K	788K	534K	738K	1.15M	402K	1.36M	1.06M	5.29M	26.87M
Cash Only	815K	788K	534K	738K	1.15M	402K	1.36M	1.06M	5.29M	26.87M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	9.93M	10.41M	11.59M	13.47M	12.12M	9.98M	18.04M	18.52M	23.18M	17.06M
Days Sales Outstanding	21.5	21.9	22.34	24.49	23.15	23.85	35.62	29.26	31.44	23.39
Inventory	34.6M	35.69M	42.06M	47.29M	43.33M	38.27M	47.37M	67.41M	58.37M	55.65M
Days Inventory Outstanding	115.89	117.49	123.98	129.16	132.47	142.73	139.56	168.84	139.2	134.03
Other Current Assets	351K	0	0	0	0	0	0	2.08M	2.19M	2.6M
Total Non-Current Assets+	42.66M	59.69M	60.91M	60M	80.65M	74.07M	57.6M	61.06M	57.42M	89.77M
Property, Plant & Equipment	34.82M	34.33M	42.44M	41.92M	61.22M	54.42M	49.2M	44.68M	41.08M	72.02M
Fixed Asset Turnover	4.84x	5.05x	4.46x	4.79x	3.12x	2.81x	3.76x	5.17x	6.55x	3.70x
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	0
Other Non-Current Assets	7.14M	8.36M	8.38M	8.48M	8.2M	7.93M	8M	8.58M	9.71M	11.93M
Total Assets+	89.44M	108.19M	116.62M	123.11M	138.99M	125.04M	126.44M	150.13M	146.44M	191.95M
Asset Turnover	1.89x	1.60x	1.62x	1.63x	1.37x	1.22x	1.46x	1.54x	1.84x	1.39x
Asset Growth %	0.09%	0.21%	0.08%	0.06%	0.13%	-0.1%	0.01%	0.19%	-0.02%	0.31%
Total Current Liabilities+	22.78M	21.59M	27.72M	32.13M	25.12M	22.11M	36.28M	48.52M	38.53M	34.27M
Accounts Payable	12.98M	12.39M	14.11M	17.76M	10.59M	8.42M	19.79M	19.45M	12.95M	11.59M
Days Payables Outstanding	43.48	40.78	41.58	48.51	32.37	31.41	58.29	48.71	30.87	27.92
Short-Term Debt	663K	68K	4.68M	5.5M	4.53M	5.56M	5.07M	12.44M	248K	258K
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	0	0	4.16M	4.29M	2.74M	-96K	1.09M	4.47M	10.88M	11.06M
Current Ratio	2.05x	2.25x	2.01x	1.96x	2.32x	2.31x	1.90x	1.84x	2.31x	2.98x
Quick Ratio	0.53x	0.59x	0.49x	0.49x	0.60x	0.57x	0.59x	0.45x	0.80x	1.36x
Cash Conversion Cycle	93.91	98.61	104.74	105.14	123.25	135.17	116.9	149.38	139.77	129.5
Total Non-Current Liabilities+	33.34M	27.25M	29.19M	33.96M	59.06M	48.74M	42.72M	33.54M	16.73M	48.41M
Long-Term Debt	6.1M	4.94M	12M	15.91M	15.82M	9.55M	14.17M	14.38M	4.14M	3.88M
Capital Lease Obligations	0	0	0	0	19.79M	15.62M	11.44M	6.8M	1.83M	36.01M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	27.25M	22.3M	18.19M	18.05M	23.45M	23.57M	17.11M	12.36M	10.77M	8.52M
Total Liabilities	56.12M	48.83M	56.91M	66.09M	84.17M	70.85M	79M	82.06M	55.27M	82.68M
Total Debt+	6.76M	5.01M	16.68M	21.41M	43.79M	35.4M	35.42M	38.7M	11.96M	41.82M
Net Debt	5.95M	4.22M	16.15M	20.68M	42.64M	35M	34.06M	37.65M	6.67M	14.95M
Debt / Equity	0.20x	0.08x	0.28x	0.38x	0.80x	0.65x	0.75x	0.57x	0.13x	0.38x
Debt / EBITDA	0.63x	0.46x	1.77x	2.64x	7.92x	8.37x	21.57x	4.08x	0.32x	1.25x
Net Debt / EBITDA	0.56x	0.38x	1.71x	2.55x	7.71x	8.27x	20.74x	3.97x	0.18x	0.45x
Interest Coverage	4.64x	4.88x	2.56x	1.06x	-0.24x	-0.93x	-2.12x	2.77x	11.90x	79.83x
Total Equity+	33.31M	59.35M	59.71M	57.03M	54.82M	54.19M	47.45M	68.06M	91.18M	109.27M
Equity Growth %	0.48%	0.78%	0.01%	-0.04%	-0.04%	-0.01%	-0.12%	0.43%	0.34%	0.2%
Book Value per Share	2.20	3.89	3.92	3.70	3.49	3.44	2.97	4.20	5.56	6.67
Total Shareholders' Equity	33.31M	59.35M	59.71M	57.03M	54.82M	54.19M	47.45M	68.06M	91.18M	109.27M
Common Stock	150K	152K	154K	155K	157K	159K	161K	162K	164K	161K
Retained Earnings	-69.14M	-46.38M	-49.65M	-52.19M	-49.81M	-52.04M	-67.18M	-50.63M	-29.05M	-8.87M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-14.33M	-11.39M	-9.26M	-9.04M	-14.31M	-13.59M	-6.03M	-2.36M	-1.31M	422K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Cash from Operations+	7.51M	5.86M	1.68M	2.36M	9.76M	7.8M	-401K	-3.79M	26.96M	33.13M
Operating CF Margin %	0.04%	0.03%	0.01%	0.01%	0.05%	0.05%	-0%	-0.02%	0.1%	0.12%
Operating CF Growth %	3.53%	-0.22%	-0.71%	0.4%	3.13%	-0.2%	-1.05%	-8.45%	8.12%	0.23%
Net Income	4.55M	22.76M	-3.21M	-1.61M	2.38M	-2.23M	-15.14M	16.55M	21.91M	21.64M
Depreciation & Amortization	4.76M	5.03M	5.47M	5.79M	5.77M	5.09M	4.57M	4.54M	5.1M	5.69M
Stock-Based Compensation	493K	609K	830K	908K	924K	1.01M	1.01M	612K	595K	395K
Deferred Taxes	77K	-18.12M	5.82M	419K	209K	-742K	11.32M	-8.71M	800K	230K
Other Non-Cash Items	3.1M	2.11M	1.49M	1.33M	1.23M	2.4M	960K	-132K	-1.9M	-2.12M
Working Capital Changes	-5.47M	-6.52M	-8.71M	-4.47M	-759K	2.27M	-3.12M	-16.65M	460K	7.29M
Change in Receivables	544K	14K	-1.47M	-1.87M	1.41M	2M	-8.06M	-720K	0	10.16M
Change in Inventory	-8.28M	-1.71M	-6.86M	-5.23M	3.96M	5.06M	-9.1M	-20.03M	9.04M	2.72M
Change in Payables	2.84M	-4.15M	-748K	2.63M	-6.03M	-4.89M	13.86M	4.02M	0	-1.09M
Cash from Investing+	-4.2M	-4.47M	-13.27M	-5.45M	-4.26M	-2.13M	-2.37M	-3.33M	-4.76M	-5.56M
Capital Expenditures	-4.26M	-4.41M	-13.41M	-5.39M	-4.22M	-2.15M	-3M	-3.33M	-5.25M	0
CapEx % of Revenue	0.03%	0.03%	0.07%	0.03%	0.02%	0.01%	0.02%	0.01%	0.02%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	64K	-63K	141K	-5.39M	-4.2M	-2.07M	624K	2.74M	489K	-5.56M
Cash from Financing+	-2.96M	-1.42M	11.33M	3.29M	-5.09M	-6.41M	3.73M	6.82M	-17.97M	-5.98M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	-930K	0	0	0	0	-327K	-1.46M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	0	-514K	-371K	-156K	-345K	-413K	-285K	-462K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	3.25M	1.45M	-11.73M	-3.03M	5.54M	5.64M	-3.4M	-7.12M	21.71M	26.83M
FCF Margin %	0.02%	0.01%	-0.06%	-0.02%	0.03%	0.04%	-0.02%	-0.03%	0.08%	0.1%
FCF Growth %	2.96%	-0.55%	-9.06%	0.74%	2.83%	0.02%	-1.6%	-1.1%	4.05%	0.24%
FCF per Share	0.21	0.10	-0.77	-0.20	0.35	0.36	-0.21	-0.44	1.32	1.64
FCF Conversion (FCF/Net Income)	1.65x	0.26x	-0.52x	-1.46x	4.10x	-3.49x	0.03x	-0.23x	1.23x	1.53x
Interest Paid	1.28M	1.22M	1.54M	2.19M	2.46M	0	1.2M	1.98M	2.68M	349K
Taxes Paid	72K	49K	46K	96K	81K	0	37K	67K	6.32M	10.71M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	16.28%	49.12%	-5.39%	-2.77%	4.26%	-4.1%	-29.79%	28.65%	27.52%	21.6%
Return on Invested Capital (ROIC)	12.59%	8.67%	4.26%	2.28%	-0.5%	-1.16%	-2.23%	4.39%	23.49%	18.82%
Gross Margin	35.36%	36.07%	34.59%	33.42%	37.51%	35.95%	32.97%	36.93%	43.13%	43.08%
Net Margin	2.7%	13.12%	-1.7%	-0.8%	1.25%	-1.46%	-8.19%	7.16%	8.14%	8.13%
Debt / Equity	0.20x	0.08x	0.28x	0.38x	0.80x	0.65x	0.75x	0.57x	0.13x	0.38x
Interest Coverage	4.64x	4.88x	2.56x	1.06x	-0.24x	-0.93x	-2.12x	2.77x	11.90x	79.83x
FCF Conversion	1.65x	0.26x	-0.52x	-1.46x	4.10x	-3.49x	0.03x	-0.23x	1.23x	1.53x
Revenue Growth	2.77%	2.86%	9.15%	6.04%	-4.81%	-20.03%	20.96%	25.02%	16.47%	-1.07%

Frequently Asked Questions

Valuation & Price

Virco Mfg. Corporation (VIRC) has a price-to-earnings (P/E) ratio of 4.8x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Virco Mfg. Corporation (VIRC) reported $236.9M in revenue for fiscal year 2025. This represents a 42% increase from $166.4M in 2012.

Virco Mfg. Corporation (VIRC) saw revenue decline by 1.1% over the past year.

Yes, Virco Mfg. Corporation (VIRC) is profitable, generating $13.6M in net income for fiscal year 2025 (8.1% net margin).

Dividend & Returns

Yes, Virco Mfg. Corporation (VIRC) pays a dividend with a yield of 1.40%. This makes it attractive for income-focused investors.

Virco Mfg. Corporation (VIRC) has a return on equity (ROE) of 21.6%. This is excellent, indicating efficient use of shareholder capital.

Virco Mfg. Corporation (VIRC) generated $2.1M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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