Tile Shop Holdings (NasdaqCM:TTSH) - Share price, News & Analysis

TTSH fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	2/6
Financial Health	6/6
Dividends	0/6

TTSH Overview

Tile Shop Holdings, Inc. operates as a specialty retailer of natural stone and man-made tiles, setting and maintenance materials, and related accessories.

Rewards

Trading at 58.1% below our estimate of its fair value

Became profitable this year

Risk Analysis

Earnings have declined by 40.3% per year over past 5 years

Tile Shop Holdings Competitors

Home Depot

NYSE:HD

US$389.6b

Lowe's Companies

NYSE:LOW

US$160.0b

Floor & Decor Holdings

NYSE:FND

US$14.1b

Lumber Liquidators Holdings

NYSE:LL

US$540.3m

Price History & Performance

Summary of all time highs, changes and price drops for Tile Shop Holdings
Historical stock prices
Current Share Price	US$8.07
52 Week High	US$3.30
52 Week Low	US$8.90
Beta	1.5
1 Month Change	5.91%
3 Month Change	11.00%
1 Year Change	104.30%
3 Year Change	24.35%
5 Year Change	-51.24%
Change since IPO	-37.68%

Recent News & Updates

Aug 12

Tile Shop: Spotlight On Up-Listing And Recovery

Tile Shop Holdings has already completed its up-listing to the Nasdaq in mid-June 2021; there is still significant potential for the stock to attract sell-side coverage and institutional investor interest. The company's Q2 2021 revenue has also surpassed pre-COVID levels in Q2 2019, with store remodeling and increasing sales contribution from professional customers being key medium-term growth drivers. Tile Shop Holdings' current EV/EBITDA valuations are at the lower end of its historical trading range and represent a significant discount to a key peer.

Shareholder Returns

	TTSH	US Specialty Retail	US Market
7D	3.7%	1.4%	0.9%
1Y	104.3%	45.7%	33.4%

Return vs Industry: TTSH exceeded the US Specialty Retail industry which returned 46.2% over the past year.

Return vs Market: TTSH exceeded the US Market which returned 33.4% over the past year.

Price Volatility

Is TTSH's price volatile compared to industry and market?
TTSH volatility
TTSH Beta	1.5
Industry Beta	1.55
Market Beta	1

Stable Share Price: TTSH is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: TTSH's weekly volatility (4%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1985	1,123	Cabby Lolmaugh	https://www.tileshop.com

Tile Shop Holdings, Inc. operates as a specialty retailer of natural stone and man-made tiles, setting and maintenance materials, and related accessories. It offers marble, travertine, granite, quartz, sandstone, slate, and onyx tiles; and ceramic, porcelain, glass, cement, wood look, and metal tiles primarily under the Rush River and Fired Earth brands. The company also manufactures setting and maintenance materials, such as thinset, grout, sealers, and accessories, including installation tools, shower and bath shelves, drains, and related products under the Superior brand name; and offers customers delivery service through third-party freight providers.

Tile Shop Holdings Fundamentals Summary

How do Tile Shop Holdings's earnings and revenue compare to its market cap?
TTSH fundamental statistics
Market Cap	US$419.38m
Earnings (TTM)	US$14.08m
Revenue (TTM)	US$351.33m

29.8x

P/E Ratio

1.2x

P/S Ratio

Is TTSH overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
TTSH income statement (TTM)
Revenue	US$351.33m
Cost of Revenue	US$109.56m
Gross Profit	US$241.77m
Expenses	US$227.69m
Earnings	US$14.08m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	0.27
Gross Margin	68.82%
Net Profit Margin	4.01%
Debt/Equity Ratio	0%

How did TTSH perform over the long term?

See historical performance and comparison

Valuation

Is Tile Shop Holdings undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: TTSH ($8.07) is trading below our estimate of fair value ($19.27)

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

Price To Earnings Ratio

PE vs Industry: TTSH is poor value based on its PE Ratio (29.8x) compared to the US Specialty Retail industry average (10.1x).

PE vs Market: TTSH is poor value based on its PE Ratio (29.8x) compared to the US market (18.3x).

Price to Earnings Growth Ratio

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

Price to Book Ratio

PB vs Industry: TTSH is good value based on its PB Ratio (2.8x) compared to the US Specialty Retail industry average (3x).

Future Growth

How is Tile Shop Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

19.2%

Forecasted Retail 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 Tile Shop Holdings 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 Tile Shop Holdings performed over the past 5 years?

-40.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: TTSH has high quality earnings.

Growing Profit Margin: TTSH became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: TTSH's earnings have declined by 40.3% per year over the past 5 years.

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

Earnings vs Industry: TTSH has become profitable in the last year, making it difficult to compare its past year earnings growth to the Specialty Retail industry (158.2%).

Return on Equity

High ROE: TTSH's Return on Equity (9.4%) is considered low.

Financial Health

How is Tile Shop Holdings's financial position?

Financial Position Analysis

Short Term Liabilities: TTSH's short term assets ($133.6M) exceed its short term liabilities ($87.5M).

Long Term Liabilities: TTSH's short term assets ($133.6M) exceed its long term liabilities ($118.5M).

Debt to Equity History and Analysis

Debt Level: TTSH is debt free.

Reducing Debt: TTSH has no debt compared to 5 years ago when its debt to equity ratio was 22.6%.

Debt Coverage: TTSH has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: TTSH has no debt, therefore coverage of interest payments is not a concern.

Balance Sheet

Dividend

What is Tile Shop Holdings's current dividend yield, its reliability and sustainability?

Dividend Yield vs Market

Notable Dividend: Unable to evaluate TTSH's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate TTSH's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TTSH's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TTSH's dividend payments have been increasing.

Current Payout to Shareholders

Dividend Coverage: TTSH is not paying a notable dividend for the US market.

Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TTSH's dividend in 3 years as they are not forecast to pay a notable one for the US market.

Next Steps

Explore strong dividend paying companies in the Retail industry.

Management

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

2.4yrs

Average management tenure

CEO

Cabby Lolmaugh (42 yo)

2.75yrs

Tenure

US$579,950

Compensation

Mr. Cabell H. Lolmaugh, also known as Cabby, has been President, Chief Executive Officer and Director of Tile Shop Holdings, Inc. since January 1, 2019. He served as Senior Vice President and Chief Operati...

CEO Compensation Analysis

Compensation vs Market: Cabby's total compensation ($USD579.95K) is below average for companies of similar size in the US market ($USD1.68M).

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

Leadership Team

Experienced Management: TTSH's management team is considered experienced (2.4 years average tenure).

Board Members

Experienced Board: TTSH's board of directors are not considered experienced ( 2 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: Insufficient data to determine if 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.

Data	Last Updated (UTC time)
Company Analysis	2021/10/26 22:37
End of Day Share Price	2021/10/26 00:00
Earnings	2021/06/30
Annual Earnings	2020/12/31

Market Cap

7D

1Y

Updated

Data