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SCS

Steelcase NYSE:SCS Stock Report

Last Price

US$11.73

Market Cap

US$1.3b

7D

-3.0%

1Y

-18.9%

Updated

24 May, 2022

Data

Company Financials +
SCS fundamental analysis
Snowflake Score
Valuation3/6
Future Growth3/6
Past Performance0/6
Financial Health3/6
Dividends3/6

SCS Stock Overview

Steelcase Inc. provides a portfolio of furniture and architectural products in the United States and internationally.

Steelcase Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Steelcase
Historical stock prices
Current Share PriceUS$11.73
52 Week HighUS$15.84
52 Week LowUS$10.66
Beta1.18
1 Month Change-1.92%
3 Month Change-2.98%
1 Year Change-18.94%
3 Year Change-30.01%
5 Year Change-29.55%
Change since IPO-65.12%

Recent News & Updates

Apr 07
Steelcase (NYSE:SCS) Will Be Hoping To Turn Its Returns On Capital Around

Steelcase (NYSE:SCS) Will Be Hoping To Turn Its Returns On Capital Around

What are the early trends we should look for to identify a stock that could multiply in value over the long term...

Mar 06

Steelcase: A Recovery Will Push Shares Higher

Steelcase has struggled since the pandemic began, but the picture for the business is showing signs of improvement. The process may take time, but it's probable that financial results will revert back to where they were in prior years. If this comes to pass, shares could offer a nice bit of upside for long-term investors.

Feb 17
Is Steelcase (NYSE:SCS) Using Too Much Debt?

Is Steelcase (NYSE:SCS) Using Too Much Debt?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...

Dec 21
Be Wary Of Steelcase (NYSE:SCS) And Its Returns On Capital

Be Wary Of Steelcase (NYSE:SCS) And Its Returns On Capital

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...

Shareholder Returns

SCSUS Commercial ServicesUS Market
7D-3.0%-1.5%-4.0%
1Y-18.9%-4.7%-13.2%

Return vs Industry: SCS underperformed the US Commercial Services industry which returned -5.3% over the past year.

Return vs Market: SCS underperformed the US Market which returned -12.3% over the past year.

Price Volatility

Is SCS's price volatile compared to industry and market?
SCS volatility
SCS Average Weekly Movement5.3%
Commercial Services Industry Average Movement7.4%
Market Average Movement7.8%
10% most volatile stocks in US Market16.8%
10% least volatile stocks in US Market2.9%

Stable Share Price: SCS is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: SCS's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
191211,700Sara Armbrusterhttps://www.steelcase.com

Steelcase Inc. provides a portfolio of furniture and architectural products in the United States and internationally. It operates through Americas, EMEA, and Other segments. The company’s furniture portfolio includes furniture systems, seating, storage, fixed and height-adjustable desks, benches, and tables, as well as complementary products, such as work accessories, lighting, and mobile power and screens.

Steelcase Fundamentals Summary

How do Steelcase's earnings and revenue compare to its market cap?
SCS fundamental statistics
Market CapUS$1.32b
Earnings (TTM)US$3.90m
Revenue (TTM)US$2.77b

339.1x

P/E Ratio

0.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SCS income statement (TTM)
RevenueUS$2.77b
Cost of RevenueUS$2.01b
Gross ProfitUS$761.50m
Other ExpensesUS$757.60m
EarningsUS$3.90m

Last Reported Earnings

Feb 25, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.035
Gross Margin27.46%
Net Profit Margin0.14%
Debt/Equity Ratio56.6%

How did SCS perform over the long term?

See historical performance and comparison

Dividends

4.9%

Current Dividend Yield

1,561%

Payout Ratio

Valuation

Is Steelcase undervalued compared to its fair value and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: SCS ($11.73) is trading below our estimate of fair value ($26.88)

Significantly Below Fair Value: SCS is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: SCS is poor value based on its Price-To-Earnings Ratio (339.1x) compared to the US Commercial Services industry average (21.9x).

PE vs Market: SCS is poor value based on its Price-To-Earnings Ratio (339.1x) compared to the US market (15.1x).


Price to Earnings Growth Ratio

PEG Ratio: SCS is poor value based on its PEG Ratio (8x)


Price to Book Ratio

PB vs Industry: SCS is good value based on its Price-To-Book Ratio (1.6x) compared to the US Commercial Services industry average (1.8x).


Future Growth

How is Steelcase forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


42.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SCS's forecast earnings growth (42.4% per year) is above the savings rate (1.9%).

Earnings vs Market: SCS's earnings (42.4% per year) are forecast to grow faster than the US market (12.3% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: SCS's revenue (6.2% per year) is forecast to grow slower than the US market (7.8% per year).

High Growth Revenue: SCS's revenue (6.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SCS's Return on Equity is forecast to be low in 3 years time (12.6%).


Past Performance

How has Steelcase performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-18.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SCS has a large one-off gain of $1.3M impacting its February 25 2022 financial results.

Growing Profit Margin: SCS's current net profit margins (0.1%) are lower than last year (1%).


Past Earnings Growth Analysis

Earnings Trend: SCS's earnings have declined by 18.5% per year over the past 5 years.

Accelerating Growth: SCS's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SCS had negative earnings growth (-85.1%) over the past year, making it difficult to compare to the Commercial Services industry average (30.2%).


Return on Equity

High ROE: SCS's Return on Equity (0.5%) is considered low.


Financial Health

How is Steelcase's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: SCS's short term assets ($959.2M) exceed its short term liabilities ($567.2M).

Long Term Liabilities: SCS's short term assets ($959.2M) exceed its long term liabilities ($841.6M).


Debt to Equity History and Analysis

Debt Level: SCS's net debt to equity ratio (33%) is considered satisfactory.

Reducing Debt: SCS's debt to equity ratio has increased from 38.8% to 56.6% over the past 5 years.

Debt Coverage: SCS's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: SCS's interest payments on its debt are not well covered by EBIT (0.7x coverage).


Balance Sheet


Dividend

What is Steelcase current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


4.94%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: SCS's dividend (4.94%) is higher than the bottom 25% of dividend payers in the US market (1.57%).

High Dividend: SCS's dividend (4.94%) is in the top 25% of dividend payers in the US market (4.05%)


Stability and Growth of Payments

Stable Dividend: SCS's dividend payments have been volatile in the past 10 years.

Growing Dividend: SCS's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (1561.1%), SCS's dividend payments are not well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: SCS is paying a dividend but the company has no free cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

8.2yrs

Average management tenure


CEO

Sara Armbruster (50 yo)

8.33yrs

Tenure

US$1,339,548

Compensation

Ms. Sara E. Armbruster has been an Executive Vice President and Director of at Steelcase Inc. since April 2021. She had been Vice President of Strategy, Research and Digital Transformation at Steelcase, In...


CEO Compensation Analysis

Compensation vs Market: Sara's total compensation ($USD1.34M) is below average for companies of similar size in the US market ($USD5.43M).

Compensation vs Earnings: Sara's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: SCS's management team is seasoned and experienced (8.2 years average tenure).


Board Members

Experienced Board: SCS's board of directors are considered experienced (5.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: SCS insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Steelcase Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Steelcase Inc.
  • Ticker: SCS
  • Exchange: NYSE
  • Founded: 1912
  • Industry: Office Services and Supplies
  • Sector: Commercial Services
  • Implied Market Cap: US$1.322b
  • Shares outstanding: 112.73m
  • Website: https://www.steelcase.com

Number of Employees


Location

  • Steelcase Inc.
  • 901 44th Street SE
  • Grand Rapids
  • Michigan
  • 49508
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/24 00:00
End of Day Share Price2022/05/24 00:00
Earnings2022/02/25
Annual Earnings2022/02/25


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.