FLXS

Flexsteel IndustriesNasdaqGS:FLXS Stock Report

Market Cap

US$225.2m

7D

-1.2%

1Y

36.3%

Updated

22 Sep, 2021

Data

Company Financials
FLXS fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance1/6
Financial Health4/6
Dividends3/6

FLXS Overview

Flexsteel 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.

Flexsteel Industries Competitors

Tempur Sealy International

NYSE:TPX

US$9.5b

Purple Innovation

NasdaqGS:PRPL

US$1.5b

La-Z-Boy

NYSE:LZB

US$1.5b

Lovesac

NasdaqGM:LOVE

US$1.1b

Price History & Performance

Summary of all time highs, changes and price drops for Flexsteel Industries
Historical stock prices
Current Share PriceUS$33.01
52 Week HighUS$22.80
52 Week LowUS$51.13
Beta0.97
1 Month Change-9.34%
3 Month Change-23.54%
1 Year Change36.29%
3 Year Change8.55%
5 Year Change-38.55%
Change since IPO175.08%

Recent News & Updates

Aug 25

Flexsteel: Record EPS And Retail Backlog Equal 44% Upside

Very strong fourth quarter with record full-year adjusted earnings per share of $2.99. Record retail home furnishings backlog of $152 million. Flexsteel stock has gone up 50% since our initiation, yet it is trading -37% below 5-year highs: our analysis leads to 44% more upside based on attractive fundamentals and valuations. Temporary setbacks in the supply chain labelled by management as near-term, and Flexsteel looks ahead – light very visible at the end of the tunnel. Lumber prices down close to -46% YTD and mortgage rates dipped down to 2.78% levels.

Apr 27

Flexsteel: 33% Revenue Growth, Backlog Doubles, 8x P/E Makes This Stock Very Attractive

Stellar 3Q: Backlog Doubled, 33% Organic Sales, and 3% Buyback Photo by imaginima/E+ via Getty Images Flexsteel (FLXS) reported stellar results for the third quarter ended March. These numbers smashed past our expectations, with GAAP EPS of $0.67 versus -$0.66 in the prior year. The company reported organic sales [excluding

Shareholder Returns

FLXSUS Consumer DurablesUS Market
7D-1.2%-1.3%-1.8%
1Y36.3%32.1%31.5%

Return vs Industry: FLXS matched the US Consumer Durables industry which returned 36.1% over the past year.

Return vs Market: FLXS exceeded the US Market which returned 33% over the past year.

Price Volatility

Is FLXS's price volatile compared to industry and market?
FLXS volatility
FLXS Beta0.97
Industry Beta1.45
Market Beta1

Stable Share Price: FLXS is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: FLXS's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1893665Jerry Dittmerhttps://www.flexsteel.com

Flexsteel 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.

Valuation

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

9.77x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: FLXS ($33.01) is trading above our estimate of fair value ($2.88)

Significantly Below Fair Value: FLXS is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: FLXS is good value based on its PE Ratio (9.8x) compared to the US Consumer Durables industry average (10.8x).

PE vs Market: FLXS is good value based on its PE Ratio (9.8x) compared to the US market (17.5x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate FLXS's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: FLXS is good value based on its PB Ratio (1.3x) compared to the US Consumer Durables industry average (2x).


Future Growth

How is Flexsteel Industries forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

12.0%

Forecasted Consumer Durables industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Flexsteel Industries has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Past Performance

How has Flexsteel Industries performed over the past 5 years?

-48.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FLXS has a high level of non-cash earnings.

Growing Profit Margin: FLXS became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: FLXS's earnings have declined by 48.8% per year over the past 5 years.

Accelerating Growth: FLXS has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: FLXS has become profitable in the last year, making it difficult to compare its past year earnings growth to the Consumer Durables industry (71.4%).


Return on Equity

High ROE: FLXS's Return on Equity (13.7%) is considered low.


Financial Health

How is Flexsteel Industries's financial position?


Financial Position Analysis

Short Term Liabilities: FLXS's short term assets ($228.5M) exceed its short term liabilities ($99.8M).

Long Term Liabilities: FLXS's short term assets ($228.5M) exceed its long term liabilities ($29.1M).


Debt to Equity History and Analysis

Debt Level: FLXS's debt to equity ratio (2.1%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if FLXS's debt to equity ratio has reduced over the past 5 years.

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

Interest Coverage: FLXS's interest payments on its debt are well covered by EBIT (2879.8x coverage).


Balance Sheet


Dividend

What is Flexsteel Industries's current dividend yield, its reliability and sustainability?

1.82%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FLXS's dividend (1.82%) is higher than the bottom 25% of dividend payers in the US market (1.35%).

High Dividend: FLXS's dividend (1.82%) is low compared to the top 25% of dividend payers in the US market (3.65%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (14.1%), FLXS's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

2.5yrs

Average management tenure


CEO

Jerry Dittmer (63 yo)

2.75yrs

Tenure

US$1,590,214

Compensation

Mr. Jerald K. Dittmer, also known as Jerry, has been President, Chief Executive Officer and Director at Flexsteel Industries, Inc. since December 28, 2018. Mr. Dittmer served as President and Chief Executi...


CEO Compensation Analysis

Compensation vs Market: Jerry's total compensation ($USD1.59M) is above average for companies of similar size in the US market ($USD1.10M).

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


Leadership Team

Experienced Management: FLXS's management team is considered experienced (2.5 years average tenure).


Board Members

Experienced Board: FLXS's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.


Ownership

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


Insider Trading Volume

Insider Buying: FLXS insiders have bought more shares than they have sold 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

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


Key Information

  • Name: Flexsteel Industries, Inc.
  • Ticker: FLXS
  • Exchange: NasdaqGS
  • Founded: 1893
  • Industry: Home Furnishings
  • Sector: Consumer Durables
  • Market Cap: US$225.196m
  • Shares outstanding: 6.82m
  • Website: https://www.flexsteel.com

Number of Employees


Location

  • Flexsteel Industries, Inc.
  • 385 Bell Street
  • Dubuque
  • Iowa
  • 52001-0877
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/22 00:11
End of Day Share Price2021/09/21 00:00
Earnings2021/06/30
Annual Earnings2021/06/30


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.