Flexsteel Industries, Inc. Financial Ratios — FLXS Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	8.81	10.25	9.59	10.19	13.84	13.53	12.05	8.34	-16.5	-16.61	14.84	1.13	8.73	5.89	10.57
Return on Assets (%)	6.46	7.55	7.03	7.44	9.81	9.86	9.2	6.37	-12.11	-10.92	8.63	0.66	5.28	3.73	7.24
Return on Capital (%)	8.81	10.25	9.59	10.19	13.39	13.12	12.05	8.34	- -	- -	12.94	0.96	- -	4.38	7.9
Return on Invested Capital (%)	8.91	9.67	8.86	11.37	11.8	11.28	10.43	7.86	- -	- -	10.95	0.92	- -	4.97	10.48
Gross Margin (%)	22.77	24.22	23.43	22.86	23.53	22.73	23.18	20.08	15.77	14.46	20.2	13.35	18.02	21.14	22.21
EBITDA Margin (%)	5.77	6.56	6.23	7.46	8.38	8.67	9.39	6.88	-0.88	-3	7.09	2.04	3.13	5.04	7.91
Operating Margin (%)	4.97	5.75	5.25	6.51	7.32	7.16	7.7	5.37	-2.56	-5.28	6	1.09	1.97	4.07	7.08
Incremental Operating Margin (%)	-5.01	26.58	0.07	15.79	19.87	4.87	-0.96	-48.09	- -	- -	42.98	-34.89	-1.2	47.46	51.02
Pretax Margin (%)	4.77	5.87	5.41	5.43	7.62	7.58	8.02	5.14	-9.61	-9.2	6.57	1.08	2.34	3.77	6.11
Profit Margin (%)	3.07	3.71	3.41	3.42	4.78	4.85	5.07	3.61	-7.35	-7.32	4.81	0.34	3.75	2.55	4.57
Net Income to Common Margin (%)	3.07	3.71	3.41	3.42	4.78	4.85	5.07	3.61	-7.35	-7.32	4.81	0.34	3.75	2.55	4.57
Effective Tax Rate (%)	35.73	36.77	37.02	37.02	37.29	36.1	36.72	29.69	- -	- -	26.76	68.61	- -	32.3	25.26
Dvd Payout Ratio (%)	17.65	19.4	32.04	28.84	22.94	22.51	25.49	38.19	-21.22	-26.16	11.38	211.06	21.93	30.58	17.64
Sustainable Growth Rate (%)	7.26	8.26	6.52	7.25	10.66	10.48	8.98	5.15	-20	-20.95	13.15	-1.25	6.82	4.09	8.7

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	- -	- -	- -	- -	12	- -	- -	- -	- -	12	34	78	100	70	59
ST Debt	- -	- -	- -	- -	12	- -	- -	- -	- -	4	6	6	7	8	8
LT Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	8	28	72	93	63	52
Total Debt/EBITDA	- -	- -	- -	- -	0.3	- -	- -	- -	- -	-1.09	0.99	7.02	8.15	3.39	1.7
Net Debt/EBITDA	-0.91	-0.61	-0.45	-0.68	0.27	-0.85	-0.66	-0.82	5.68	4.37	0.06	3.2	2.02	- -	-1.15
Total Debt/EBIT	- -	- -	- -	- -	0.35	- -	- -	- -	- -	-0.62	1.17	13.13	12.95	4.19	1.9
Net Debt/EBIT	-1.06	-0.69	-0.54	-0.78	0.31	-1.03	-0.8	-1.06	1.96	2.49	0.08	5.98	3.21	- -	-1.28
EBITDA to Interest Expense	- -	- -	- -	- -	300.9	628.17	- -	- -	- -	-134.38	3,396.3	13.31	9.19	13.42	498.6
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	300.9	628.17	- -	- -	- -	-134.38	3,396.3	13.31	9.19	13.42	498.6
EBIT to Interest Expense	- -	- -	- -	- -	262.86	518.67	- -	- -	- -	-236.45	2,875.3	7.12	5.78	10.84	446.4
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	1	2	- -
Common Equity/Total Assets	74.33	72.99	73.6	72.6	69.36	76.4	76.39	76.48	69.96	61.25	55.69	60.83	60.26	66.5	70.43
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	4.33	16.56	54.52	65.84	41.83	30.72
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	4.83	13.98	29.7	33.84	24.87	19.96
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	3.21	9.37	26.69	32.09	22.92	18.25
Total Debt/Equity (%)	- -	- -	- -	- -	6.37	- -	- -	- -	- -	6.85	20.03	59.36	70.91	46.83	35.37
Total Debt/Capital (%)	- -	- -	- -	- -	6.56	- -	- -	- -	- -	7.64	16.92	32.33	36.45	27.84	22.98
Total Debt/Total Assets (%)	- -	- -	- -	- -	4.87	- -	- -	- -	- -	5.06	11.34	29.06	34.56	25.66	21.02
Net Debt to Equity	-13.91	-10.02	-7.23	-13.3	5.69	-17.54	-12.51	-11.48	-10.83	-27.46	1.28	27.03	17.59	0.04	-23.83
Net Debt/Capital (%)	-17.12	-11.78	-8.36	-17	5.89	-24.22	-16.28	-14.63	-14.29	-44.16	1.09	14.85	9.15	0.02	-18.33
EBITDA	20	23	24	33	39	43	44	34	-4	-11	34	11	12	21	35
EBITDA-CapEx	20	23	24	33	39	43	44	34	-4	-11	34	11	12	21	35
Operating Income (Loss)	17	20	20	29	34	36	36	26	-11	-19	29	6	8	17	31

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	0.65	0.44	0.31	0.6	0.02	1.1	1.26	1.07	0.47	0.9	0.01	0.03	0.06	0.08	0.65
Current Ratio	4.64	4.26	4.2	4.5	3.25	5.29	5.25	4.63	3.47	3.4	2.29	2.94	3.1	2.57	2.78
Quick Ratio	1.78	1.49	1.32	1.65	0.9	2.44	2.4	2.08	1.26	1.5	0.57	0.67	0.75	0.81	1.21
CFO/Avg Current Liab	0.47	0.3	0.18	0.45	0.07	1.28	0.75	0.7	0.15	0.36	-0.43	0.1	0.38	0.55	0.6
Common Equity/Total Assets	74.33	72.99	73.6	72.6	69.36	76.4	76.39	76.48	69.96	61.25	55.69	60.83	60.26	66.5	70.43
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	4.33	16.56	54.52	65.84	41.83	30.72
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	4.83	13.98	29.7	33.84	24.87	19.96
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	3.21	9.37	26.69	32.09	22.92	18.25
Total Debt/Equity (%)	- -	- -	- -	- -	6.37	- -	- -	- -	- -	6.85	20.03	59.36	70.91	46.83	35.37
Total Debt/Capital (%)	- -	- -	- -	- -	6.56	- -	- -	- -	- -	7.64	16.92	32.33	36.45	27.84	22.98
Total Debt/Total Assets (%)	- -	- -	- -	- -	4.87	- -	- -	- -	- -	5.06	11.34	29.06	34.56	25.66	21.02
CFO/Total Liabilities	38.22	21.26	14.3	37.35	5.65	145.97	67.17	64.08	13.74	29.61	-25.38	5.83	15.44	25.69	32.26
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	5.74	5.87	6.53	7.56	7.18	9.07	10.34	8.1	4.74	3.71	4.55	3.97	3.13	3.79	4.33

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	10.1	10.82	11.09	11.76	11.17	11.15	10.78	11.7	11.17	10.43	10.86	11.21	9.93	10.02	11.1
Days Sales Outstanding	36.13	33.72	32.93	31.05	32.69	32.74	33.86	31.19	32.67	35	33.61	32.56	36.75	36.44	32.88
Inventory Turnover	3.58	3.41	3.38	3.55	3.37	3.87	3.89	4	3.94	3.82	3.3	3.12	2.45	2.98	3.7
Days Inventory Outstanding	101.87	106.96	108.06	102.7	108.25	94.34	93.91	91.31	92.73	95.49	110.63	117	148.88	122.59	98.77
Accounts Payable Turnover	25.41	24.12	22.71	23.12	21.84	24.43	26.9	22.82	20.82	12.6	9.9	9.04	10.67	11.86	13.05
Accounts Payable Turnover Days	14.36	15.13	16.07	15.79	16.71	14.94	13.57	16	17.53	28.97	36.87	40.37	34.2	30.77	27.97
Cash Conversion Cycle	123.64	125.54	124.92	117.96	124.23	112.14	114.2	106.51	107.88	101.52	107.37	109.18	151.43	128.26	103.69
Inventory to Cash Days	-65.74	-73.24	-75.14	-71.65	-75.56	-61.6	-60.04	-60.11	-60.06	-60.48	-77.02	-84.44	-112.13	-86.15	-65.89
Inventories	74	83	92	98	114	86	99	96	94	71	161	141	122	97	89
Raw Materials	9	10	11	12	13	13	15	13	14	11	22	16	19	14	11
Work In Process	4	5	5	5	6	6	7	7	6	4	6	6	4	3	3
Finished Goods	60	67	76	81	95	67	77	76	73	56	132	119	100	80	75
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	98	134	172	241	320	301	421	313	135	100	291	114	100	161	189
- Cash & Cash Equivalents	18	14	11	22	1	37	29	28	22	48	1	2	3	5	40
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	12	- -	- -	- -	- -	12	34	78	100	70	59
Enterprise Value	80	120	161	219	330	264	374	269	112	64	323	190	197	226	208
Total Capital	122	133	142	153	182	189	206	217	178	157	199	242	276	253	258
Total Debt/Capital (%)	- -	- -	- -	- -	6.56	- -	- -	- -	- -	7.64	16.92	32.33	36.45	27.84	22.98
Total Debt / EV	- -	- -	- -	- -	0.04	- -	- -	- -	- -	0.19	0.1	0.41	0.51	0.31	0.28
EV/Sales	0.24	0.34	0.42	0.5	0.71	0.53	0.8	0.55	0.25	0.18	0.67	0.35	0.5	0.55	0.47
EV/EBITDA	4.09	5.21	6.68	6.69	8.45	6.09	8.5	8.01	- -	- -	9.51	17.07	15.98	10.88	5.97
EV/EBIT	4.74	5.93	7.93	7.67	9.67	7.38	10.37	10.26	- -	- -	11.24	31.92	25.39	13.47	6.67
EV/Cash Flow to Firm	5.79	13.39	27.22	13.49	98.64	4.85	14.18	9.87	16.73	3.5	- -	23	7.83	6.87	5.63
EV/Free Cash Flow to Firm	5.79	13.39	27.22	13.49	98.64	4.85	14.18	9.87	16.73	3.5	- -	23	7.83	6.87	5.63
Diluted Market Cap	101	139	179	250	332	308	427	316	135	100	302	117	103	171	205
Diluted Enterprise Value	83	125	168	228	343	271	398	288	112	64	334	193	200	237	224
EV per Share	11.95	17.72	22.83	30.28	44.52	34.78	48.09	34.33	14.24	8.08	44.88	29.99	37.69	43.76	39.72
TTM Sales	339	352	386	439	467	500	469	489	444	367	479	544	394	413	441
TTM EBITDA	20	23	24	33	39	43	44	34	-4	-11	34	11	12	21	35
TTM Operating Income	17	20	20	29	34	36	36	26	-11	-19	29	6	8	17	31
TTM Cash Flow to Firm	14	9	6	16	3	54	26	27	7	18	-33	8	25	33	37
TTM Free Cash Flow to Firm	14	9	6	16	3	54	26	27	7	18	-33	8	25	33	37

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	7.34	15.44	30.25	15.43	101.6	5.66	16.17	11.58	20.05	5.49	-9.23	14.64	4.48	5.38	5.53
EV/EBIT	4.74	5.93	7.93	7.67	9.67	7.38	10.37	10.26	- -	- -	11.24	31.92	25.39	13.47	6.67
Enterprise Value	80	120	161	219	330	264	374	269	112	64	323	190	197	226	208
Low Price	10.08	13.04	18.56	22.27	28.56	27.25	37.93	34.74	16.04	7.81	12.47	17.52	13.46	15.67	28.99
EV/Sales	0.24	0.34	0.42	0.5	0.71	0.53	0.8	0.55	0.25	0.18	0.67	0.35	0.5	0.55	0.47
EV/EBITDA	4.09	5.21	6.68	6.69	8.45	6.09	8.5	8.01	- -	- -	9.51	17.07	15.98	10.88	5.97
Price/Earnings	9.39	10.26	13.05	16.09	14.34	12.42	17.7	17.73	- -	- -	12.62	61.48	6.76	15.25	9.38
Price/Earnings Average	9.58	8.36	11.6	14.37	11.18	12.7	16.5	20.03	-6.41	-4.4	9.83	91.85	6.18	12.92	11.27
Price/Earnings High	12.65	11.42	14.08	19.51	15.35	15.25	20.61	25.67	-9.78	-6.32	15.97	146.8	8	20.45	17.16
Price/Earnings Low	6.48	6.77	9.94	10.74	9.51	8.54	12.41	15.43	-3.88	-2.31	3.9	59.84	4.76	7.7	7.55
Price/Book Value	0.8	1.01	1.21	1.58	1.89	1.6	2.04	1.44	0.76	0.69	1.76	0.7	0.57	0.88	0.95
Price/Book Value Average	0.82	0.82	1.08	1.41	1.47	1.63	1.9	1.63	1.18	0.81	1.37	1.04	0.52	0.75	1.14
Price/Book Value High	1.08	1.13	1.31	1.92	2.02	1.96	2.38	2.09	1.79	1.17	2.23	1.66	0.68	1.18	1.74
Price/Book Value Low	0.55	0.67	0.92	1.06	1.25	1.1	1.43	1.25	0.71	0.43	0.54	0.68	0.4	0.44	0.76
Price/Tangible Book Value	0.76	0.96	1.14	1.45	1.71	1.44	1.82	1.3	0.66	0.57	1.73	0.87	0.71	1.07	1.13
Price/Tangible Book Value Average	0.78	0.78	1.01	1.29	1.33	1.47	1.7	1.46	1.02	0.67	1.35	1.29	0.64	0.9	1.35
Price/Tangible Book Value High	1.02	1.07	1.22	1.75	1.83	1.76	2.12	1.88	1.55	0.97	2.19	2.07	0.83	1.43	2.06
Price/Tangible Book Value Low	0.52	0.63	0.86	0.97	1.14	0.99	1.28	1.13	0.62	0.35	0.53	0.84	0.5	0.54	0.91
Price/Sales	0.29	0.38	0.44	0.55	0.69	0.6	0.9	0.64	0.3	0.27	0.61	0.21	0.25	0.39	0.43
Price/Sales Average	0.29	0.31	0.39	0.49	0.53	0.62	0.84	0.72	0.47	0.32	0.47	0.31	0.23	0.33	0.51
Price/Sales High	0.39	0.42	0.48	0.67	0.73	0.74	1.05	0.93	0.72	0.46	0.77	0.5	0.3	0.52	0.78
Price/Sales Low	0.2	0.25	0.34	0.37	0.45	0.41	0.63	0.56	0.29	0.17	0.19	0.2	0.18	0.2	0.34
Price/Cash Flow	7.09	14.94	29.07	14.85	97.85	5.53	15.96	11.47	20.05	5.49	-8.9	14.25	4.34	5.04	5.11
Price/Cash Flow Average	7.23	12.18	25.83	13.26	76.24	5.66	14.87	12.97	31.14	6.46	-6.93	21.29	3.97	4.27	6.14
Price/Cash Flow High	9.55	16.62	31.35	18.01	104.68	6.8	18.58	16.62	47.49	9.27	-11.26	34.03	5.14	6.75	9.35
Price/Cash Flow Low	4.89	9.85	22.13	9.92	64.85	3.81	11.19	9.99	18.85	3.4	-2.75	13.87	3.06	2.54	4.11
Price/Free Cash Flow Average	7.49	12.58	26.87	13.78	79.17	5.79	15.07	13.08	31.14	6.46	-7.19	21.88	4.09	4.55	6.64
Price/Free Cash Flow High	9.89	17.17	32.62	18.71	108.7	6.95	18.82	16.77	47.49	9.27	-11.68	34.97	5.3	7.21	10.11
Price/Free Cash Flow Low	5.06	10.18	23.03	10.3	67.34	3.89	11.34	10.08	18.85	3.4	-2.85	14.25	3.15	2.71	4.45
EV/Sales Average	0.24	0.27	0.37	0.44	0.56	0.54	0.78	0.67	0.42	0.22	0.54	0.45	0.48	0.49	0.56
EV/Sales High	0.34	0.38	0.45	0.62	0.76	0.67	0.98	0.87	0.67	0.36	0.84	0.64	0.55	0.68	0.83
EV/Sales Low	0.15	0.21	0.31	0.32	0.48	0.34	0.57	0.5	0.24	0.07	0.25	0.34	0.43	0.36	0.39
EV/EBITDA Average	4.18	4.13	5.88	5.9	6.64	6.25	8.26	9.7	-47.68	-7.43	7.62	22.14	15.28	9.7	7.06
EV/EBITDA High	5.82	5.86	7.23	8.26	9.02	7.68	10.48	12.66	-75.71	-12.1	11.79	31.29	17.47	13.51	10.46
EV/EBITDA Low	2.53	3.23	4.97	4.24	5.69	3.93	6.05	7.28	-26.62	-2.36	3.59	16.8	13.58	7.05	4.91
EV/EBIT Average	4.85	4.71	6.98	6.77	7.6	7.58	10.07	12.41	-16.45	-4.22	9.01	41.38	24.29	12.01	7.89
EV/EBIT High	6.75	6.68	8.59	9.47	10.32	9.3	12.78	16.21	-26.12	-6.88	13.93	58.5	27.77	16.72	11.68
EV/EBIT Low	2.94	3.68	5.91	4.87	6.51	4.76	7.38	9.32	-9.18	-1.34	4.25	31.41	21.59	8.73	5.49
Last Price	14.62	19.78	24.38	33.35	43.09	39.62	54.11	39.9	17.06	12.63	40.39	18	19.11	31.06	36.03
High Price	19.69	22	26.29	40.44	46.1	48.67	62.99	57.79	40.42	21.31	51.13	42.98	22.63	41.64	65.87
Enterprise Value Average	82	95	142	193	260	271	364	326	187	82	259	246	188	202	246
Enterprise Value High	114	135	174	270	353	333	461	426	297	133	400	348	215	281	365
Enterprise Value Low	50	74	120	139	223	170	266	245	104	26	122	187	167	147	172

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	7	7	7	7	7	8	8	8	8	8	7	5	5	5	5
Diluted Weighted Avg Shares	7	7	7	8	8	8	8	8	8	8	7	7	5	6	6
Basic Weighted Avg Shares	7	7	7	7	7	8	8	8	8	8	7	6	5	5	5
Revenue per Share	50.71	51.92	54.85	60.65	62.9	65.85	60.24	62.33	56.23	46.12	66.52	86	75.35	79.84	84.03
EBITDA per Share	2.92	3.4	3.42	4.53	5.27	5.71	5.66	4.29	-0.5	-1.38	4.72	1.76	2.36	4.02	6.65
Operating Income per Share	2.52	2.99	2.88	3.95	4.6	4.71	4.64	3.35	-1.44	-2.44	3.99	0.94	1.48	3.25	5.95
Basic EPS, GAAP	1.56	1.93	1.87	2.07	3	3.19	3.06	2.25	-4.13	-3.37	3.2	0.29	2.83	2.04	3.84
Basic EPS from Cont Ops	1.56	1.93	1.87	2.07	3	3.19	3.06	2.25	-4.13	-3.37	3.2	0.29	2.83	2.04	3.84
Diluted EPS, GAAP	1.5	1.86	1.8	2	2.89	3.12	3.02	2.23	-4.13	-3.37	3.09	0.28	2.74	1.91	3.55
Diluted EPS from Cont Ops	1.5	1.86	1.8	2	2.89	3.12	3.02	2.23	-4.13	-3.37	3.09	0.28	2.74	1.91	3.55
Dividend per Share	0.27	0.37	0.6	0.6	0.69	0.72	0.78	0.86	0.88	0.88	0.36	0.62	0.62	0.62	0.68
Cash Flow per Share	2.06	1.32	0.84	2.25	0.44	7.16	3.39	3.48	0.85	2.3	-4.54	1.26	4.4	6.17	7.04
Free Cash Flow per Basic Share	2.06	1.32	0.84	2.25	0.44	7.16	3.39	3.48	0.85	2.3	-4.54	1.26	4.4	6.17	7.04
Cash & Equivalents per Share	2.67	2.06	1.55	3.07	0.17	4.84	6.02	5.57	2.82	6.06	0.19	0.35	0.64	0.92	7.62
Book Value per Share	18.29	19.56	20.13	21.1	22.86	24.83	26.51	27.7	22.55	18.27	22.95	25.83	33.51	35.3	37.9
Tangible Book Value per Share	19.21	20.56	21.48	23.06	25.16	27.6	29.65	30.8	26.04	22.06	23.33	20.79	27.1	29.08	31.98

Flexsteel Industries, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

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Per Share Data Items (USD)