Steelcase Inc.

NYSE:SCS Stock Report

Market Cap: US$1.3b

Steelcase Valuation

Is SCS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of SCS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SCS ($11.74) is trading below our estimate of fair value ($33.63)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SCS?

Key metric: As SCS is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for SCS. This is calculated by dividing SCS's market cap by their current earnings.
What is SCS's PE Ratio?
PE Ratio12x
EarningsUS$111.30m
Market CapUS$1.34b

Price to Earnings Ratio vs Peers

How does SCS's PE Ratio compare to its peers?

The above table shows the PE ratio for SCS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.8x
TILE Interface
16.9x10.8%US$1.4b
MLKN MillerKnoll
23.8x55.2%US$1.5b
HNI HNI
19.9x19.2%US$2.5b
NL NL Industries
6.7xn/aUS$388.8m
SCS Steelcase
12x7.5%US$1.3b

Price-To-Earnings vs Peers: SCS is good value based on its Price-To-Earnings Ratio (12x) compared to the peer average (16.8x).

Price to Earnings Ratio vs Industry

How does SCS's PE Ratio compare vs other companies in the US Commercial Services Industry?

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SGTM Sustainable Green Team
3.2xn/aUS$35.60m
PGTK Pacific Green Technologies
3.6xn/aUS$28.52m
OMEX Odyssey Marine Exploration
0.6xn/aUS$7.76m
BLPG Blue Line Protection Group
3.6xn/aUS$454.58k
SCS 12.0xIndustry Avg. 31.3xNo. of Companies8PE020406080100+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SCS is good value based on its Price-To-Earnings Ratio (12x) compared to the US Commercial Services industry average (31.3x).

Price to Earnings Ratio vs Fair Ratio

What is SCS's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SCS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12x
Fair PE Ratio19.7x

Price-To-Earnings vs Fair Ratio: SCS is good value based on its Price-To-Earnings Ratio (12x) compared to the estimated Fair Price-To-Earnings Ratio (19.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst SCS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$11.74
US$16.50
+40.5%
5.2%US$18.00US$16.00n/a4
Dec ’25US$13.47
US$16.50
+22.5%
5.2%US$18.00US$16.00n/a4
Nov ’25US$12.14
US$16.50
+35.9%
5.2%US$18.00US$16.00n/a4
Oct ’25US$13.20
US$16.67
+26.3%
5.7%US$18.00US$16.00n/a3
Sep ’25US$14.14
US$16.67
+17.9%
5.7%US$18.00US$16.00n/a3
Aug ’25US$14.11
US$16.67
+18.1%
5.7%US$18.00US$16.00n/a3
Jul ’25US$12.96
US$16.67
+28.6%
5.7%US$18.00US$16.00n/a3
Jun ’25US$13.66
US$15.59
+14.1%
2.6%US$16.00US$15.18n/a2
May ’25US$12.03
US$15.59
+29.6%
2.6%US$16.00US$15.18n/a2
Apr ’25US$13.03
US$15.59
+19.6%
2.6%US$16.00US$15.18n/a2
Mar ’25US$13.40
US$14.50
+8.2%
10.3%US$16.00US$13.00n/a2
Feb ’25US$12.91
US$14.50
+12.3%
10.3%US$16.00US$13.00n/a2
Jan ’25US$13.52
US$14.50
+7.2%
10.3%US$16.00US$13.00n/a2
Dec ’24US$12.46
US$11.38
-8.7%
5.4%US$12.00US$10.76US$13.472
Nov ’24US$11.12
US$11.38
+2.3%
5.4%US$12.00US$10.76US$12.142
Oct ’24US$11.17
US$11.38
+1.9%
5.4%US$12.00US$10.76US$13.202
Sep ’24US$9.17
US$10.25
+11.8%
7.3%US$11.00US$9.50US$14.142
Aug ’24US$8.66
US$10.25
+18.4%
7.3%US$11.00US$9.50US$14.112
Jul ’24US$7.71
US$10.25
+32.9%
7.3%US$11.00US$9.50US$12.962
Jun ’24US$6.55
US$10.80
+64.9%
11.1%US$12.00US$9.60US$13.662
May ’24US$8.02
US$10.80
+34.7%
11.1%US$12.00US$9.60US$12.032
Apr ’24US$8.42
US$10.80
+28.3%
11.1%US$12.00US$9.60US$13.032
Mar ’24US$7.94
US$9.00
+13.4%
22.2%US$11.00US$7.00US$13.402
Feb ’24US$7.80
US$9.00
+15.4%
22.2%US$11.00US$7.00US$12.912
Jan ’24US$7.07
US$9.00
+27.3%
22.2%US$11.00US$7.00US$13.522
Dec ’23US$8.07
US$10.50
+30.1%
4.8%US$11.00US$10.00US$12.462

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 02:00
End of Day Share Price 2024/12/20 00:00
Earnings2024/11/22
Annual Earnings2024/02/23

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Steelcase Inc. is covered by 10 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Matthew McCallBB&T Capital Markets
Reuben GarnerBenchmark Company
Chen YangBerenberg