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FLXS

Flexsteel Industries NasdaqGS:FLXS Stock Report

Last Price

US$15.70

Market Cap

US$83.3m

7D

0.8%

1Y

-48.7%

Updated

30 Sep, 2022

Data

Company Financials +
FLXS fundamental analysis
Snowflake Score
Valuation2/6
Future Growth3/6
Past Performance1/6
Financial Health5/6
Dividends3/6

FLXS Stock Overview

Flexsteel Industries, Inc., together with its subsidiaries, operates as a manufacturer, importer, and online marketer of upholstered furniture for residential and contract markets in the United States.

Flexsteel Industries Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Flexsteel Industries
Historical stock prices
Current Share PriceUS$15.70
52 Week HighUS$31.65
52 Week LowUS$14.88
Beta0.66
1 Month Change-10.23%
3 Month Change-12.68%
1 Year Change-48.74%
3 Year Change12.46%
5 Year Change-68.41%
Change since IPO30.83%

Recent News & Updates

Sep 13

Flexsteel declares $0.15 dividend

Flexsteel (NASDAQ:FLXS) declares $0.15/share quarterly dividend, in line with previous. Forward yield 3.58% Payable Oct. 10; for shareholders of record Sept. 28; ex-div Sept. 27. See FLXS Dividend Scorecard, Yield Chart, & Dividend Growth.

Shareholder Returns

FLXSUS Consumer DurablesUS Market
7D0.8%-3.1%-2.5%
1Y-48.7%-33.6%-23.2%

Return vs Industry: FLXS underperformed the US Consumer Durables industry which returned -32.6% over the past year.

Return vs Market: FLXS underperformed the US Market which returned -21.5% over the past year.

Price Volatility

Is FLXS's price volatile compared to industry and market?
FLXS volatility
FLXS Average Weekly Movement6.6%
Consumer Durables Industry Average Movement6.2%
Market Average Movement6.9%
10% most volatile stocks in US Market15.6%
10% least volatile stocks in US Market2.8%

Stable Share Price: FLXS is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: FLXS's weekly volatility (7%) 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 furniture for residential and contract markets in the United States. It provides 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, kitchen storage, bedroom furniture, and outdoor furniture. The company distributes its products through e-commerce channels and dealer network.

Flexsteel Industries Fundamentals Summary

How do Flexsteel Industries's earnings and revenue compare to its market cap?
FLXS fundamental statistics
Market CapUS$83.26m
Earnings (TTM)US$1.85m
Revenue (TTM)US$544.28m

44.9x

P/E Ratio

0.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FLXS income statement (TTM)
RevenueUS$544.28m
Cost of RevenueUS$471.60m
Gross ProfitUS$72.68m
Other ExpensesUS$70.83m
EarningsUS$1.85m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.35
Gross Margin13.35%
Net Profit Margin0.34%
Debt/Equity Ratio28.7%

How did FLXS perform over the long term?

See historical performance and comparison

Dividends

3.8%

Current Dividend Yield

205%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

FLXS key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.3x
Enterprise Value/EBITDA14.3x
PEG Ratio0.5x

Price to Earnings Ratio vs Peers

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

FLXS PE Ratio vs Peers
The above table shows the PE ratio for FLXS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average15.2x
LIVE Live Ventures
2.4xn/aUS$77.1m
BSET Bassett Furniture Industries
5.6x-53.0%US$143.6m
HOFT Hooker Furnishings
46x78.9%US$156.8m
LOVE Lovesac
7x32.6%US$309.5m
FLXS Flexsteel Industries
44.9x85.0%US$83.3m

Price-To-Earnings vs Peers: FLXS is expensive based on its Price-To-Earnings Ratio (44.9x) compared to the peer average (15.2x).


Price to Earnings Ratio vs Industry

How does FLXS's PE Ratio compare vs other companies in the US Consumer Durables Industry?

Price-To-Earnings vs Industry: FLXS is expensive based on its Price-To-Earnings Ratio (44.9x) compared to the US Consumer Durables industry average (6.2x)


Price to Earnings Ratio vs Fair Ratio

What is FLXS'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.

FLXS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio44.9x
Fair PE Ratio34.3x

Price-To-Earnings vs Fair Ratio: FLXS is expensive based on its Price-To-Earnings Ratio (44.9x) compared to the estimated Fair Price-To-Earnings Ratio (34.3x).


Share Price vs Fair Value

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

Below Fair Value: FLXS ($15.7) is trading below our estimate of fair value ($70.46)

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


Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

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

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


85.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FLXS's forecast earnings growth (85% per year) is above the savings rate (1.9%).

Earnings vs Market: FLXS's earnings (85% per year) are forecast to grow faster than the US market (14.7% per year).

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

Revenue vs Market: FLXS's revenue is expected to decline over the next 3 years (-7.8% per year).

High Growth Revenue: FLXS's revenue is forecast to decline over the next 3 years (-7.8% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FLXS's Return on Equity is forecast to be low in 3 years time (11.3%).


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Past Performance

How has Flexsteel Industries performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-19.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: FLXS has high quality earnings.

Growing Profit Margin: FLXS's current net profit margins (0.3%) are lower than last year (4.8%).


Past Earnings Growth Analysis

Earnings Trend: FLXS's earnings have declined by 19.9% per year over the past 5 years.

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

Earnings vs Industry: FLXS had negative earnings growth (-92%) over the past year, making it difficult to compare to the Consumer Durables industry average (29%).


Return on Equity

High ROE: FLXS's Return on Equity (1.4%) is considered low.


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Financial Health

How is Flexsteel Industries's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: FLXS's short term assets ($190.1M) exceed its short term liabilities ($64.6M).

Long Term Liabilities: FLXS's short term assets ($190.1M) exceed its long term liabilities ($72.6M).


Debt to Equity History and Analysis

Debt Level: FLXS's net debt to equity ratio (27%) 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 debt is well covered by operating cash flow (21.2%).

Interest Coverage: FLXS's interest payments on its debt are well covered by EBIT (7.1x coverage).


Balance Sheet


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Dividend

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

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


3.82%

Current Dividend Yield

Dividend Yield vs Market

Flexsteel Industries Dividend Yield vs Market
How does Flexsteel Industries dividend yield compare to the market?
SegmentDividend Yield
Company (Flexsteel Industries)3.8%
Market Bottom 25% (US)1.7%
Market Top 25% (US)4.7%
Industry Average (Consumer Durables)2.9%
Analyst forecast in 3 Years (Flexsteel Industries)n/a

Notable Dividend: FLXS's dividend (3.82%) is higher than the bottom 25% of dividend payers in the US market (1.66%).

High Dividend: FLXS's dividend (3.82%) is low compared to the top 25% of dividend payers in the US market (4.7%).


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.


Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (204.9%), FLXS's dividend payments are not well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: At its current cash payout ratio (76.9%), FLXS's dividend payments are covered by cash flows.


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Management

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

3.1yrs

Average management tenure


CEO

Jerry Dittmer (64 yo)

3.75yrs

Tenure

US$2,773,181

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

Jerry Dittmer's Compensation vs Flexsteel Industries Earnings
How has Jerry Dittmer's remuneration changed compared to Flexsteel Industries's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

US$2m

Mar 31 2022n/an/a

US$8m

Dec 31 2021n/an/a

US$8m

Sep 30 2021n/an/a

US$24m

Jun 30 2021US$3mUS$656k

US$23m

Mar 31 2021n/an/a

-US$9m

Dec 31 2020n/an/a

-US$19m

Sep 30 2020n/an/a

-US$33m

Jun 30 2020US$2mUS$664k

-US$27m

Mar 31 2020n/an/a

-US$21m

Dec 31 2019n/an/a

-US$31m

Sep 30 2019n/an/a

-US$24m

Jun 30 2019US$3mUS$350k

-US$33m

Compensation vs Market: Jerry's total compensation ($USD2.77M) is above average for companies of similar size in the US market ($USD772.00K).

Compensation vs Earnings: Jerry's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

Experienced Management: FLXS's management team is considered experienced (3.1 years average tenure).


Board Members

Experienced Board: FLXS's board of directors are considered experienced (3.7 years average tenure).


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

NasdaqGS:FLXS Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
11 Jul 22BuyUS$153Derek SchmidtIndividual8.32US$18.39
11 Jul 22BuyUS$8,761Derek SchmidtIndividual469.53US$18.66
04 Apr 22BuyUS$8,653Derek SchmidtIndividual443.52US$19.51
04 Apr 22BuyUS$152Derek SchmidtIndividual7.71US$19.71
01 Mar 22BuyUS$20,480Kathryn DicksonIndividual1,000US$20.48
14 Feb 22BuyUS$22,520Thomas LevineIndividual1,000US$22.52
14 Feb 22BuyUS$382,859Derek SchmidtIndividual17,111US$22.82
11 Feb 22BuyUS$22,889Jerald DittmerIndividual1,000US$22.89
09 Feb 22BuyUS$44,220Kathryn DicksonIndividual2,000US$22.11
27 Jan 22BuyUS$50,979Kathryn DicksonIndividual2,133US$23.90
03 Jan 22BuyUS$8,656Derek SchmidtIndividual319.35US$27.11
24 Nov 21BuyUS$257William CreekmuirIndividual9US$28.50
23 Nov 21BuyUS$49,730William CreekmuirIndividual1,724US$28.90
27 Oct 21BuyUS$82,200Kathryn DicksonIndividual3,000US$27.60
05 Oct 21BuyUS$3,347Matthew KanessIndividual112.32US$29.80
04 Oct 21BuyUS$8,641Derek SchmidtIndividual282.24US$31.09

Ownership Breakdown

What is the ownership structure of FLXS?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders1,468,10927.7%
General Public1,479,64127.9%
Institutions2,355,74044.4%

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


Top Shareholders

Top 25 shareholders own 62.75% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
9.37%
Dimensional Fund Advisors LP
496,824$7.8m-0.84%no data
6.22%
Carolyn Bleile
329,632$5.2m0%no data
5.85%
Steven Bertsch
310,175$4.9m0%no data
5.2%
Jeffrey Bertsch
275,848$4.3m32.06%no data
4.5%
The Vanguard Group, Inc.
238,449$3.7m-23.24%no data
3.59%
Renaissance Technologies LLC
190,493$3.0m0.26%no data
3.57%
Punch & Associates Investment Management, Inc.
189,300$3.0m4.41%0.21%
3.42%
Derek Schmidt
181,591$2.9m2.33%no data
3.09%
Uniplan Investment Counsel, Inc.
164,137$2.6m3.8%0.2%
3%
Royce & Associates, LP
159,000$2.5m-35.1%0.02%
1.99%
BlackRock, Inc.
105,804$1.7m-75.32%no data
1.71%
Jerald Dittmer
90,787$1.4m44.51%no data
1.45%
Millennium Management LLC
76,676$1.2m0%no data
1.34%
RBF Capital LLC
71,100$1.1m26.74%0.09%
1.33%
Jacobs Levy Equity Management Inc
70,780$1.1m572.37%0.01%
1.25%
North Star Investment Management Corporation
66,550$1.0m0%0.1%
1.08%
Geode Capital Management, LLC
57,158$897.4k-49.99%no data
0.82%
Bridgeway Capital Management, LLC
43,400$681.4k0%0.02%
0.74%
Matthew Kaness
38,984$612.0k2.94%no data
0.61%
Eric Rangen
32,101$504.0k3.6%no data
0.56%
FMR LLC
29,455$462.4k-0.02%no data
0.55%
Timothy Newlin
29,154$457.7k8.38%no data
0.52%
Ancora Advisors LLC
27,766$435.9k0%no data
0.52%
Ergoteles LLC
27,600$433.3k0%0.01%
0.48%
Michael McClaflin
25,355$398.1k8.48%no data

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
  • Implied Market Cap: US$83.265m
  • Shares outstanding: 5.30m
  • Website: https://www.flexsteel.com

Number of Employees


Location

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


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FLXSNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDApr 1972

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/30 00:00
End of Day Share Price2022/09/30 00:00
Earnings2022/06/30
Annual Earnings2022/06/30


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.