Latest Ratios: P/E Ratio 19.6x · EV/EBITDA 12.9x · ROE 12.7%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $372M | $205M | $171M | $103M | $117M | $302M | $100M | $135M | $316M | $427M | $308M |
| Enterprise Value | $392M | $224M | $237M | $200M | $193M | $334M | $64M | $112M | $288M | $398M | $271M |
| P/E Ratio → | 19.59 | 10.15 | 16.26 | 6.97 | 64.29 | 13.07 | — | — | 17.89 | 17.92 | 12.70 |
| P/S Ratio | 0.84 | 0.46 | 0.42 | 0.26 | 0.22 | 0.63 | 0.27 | 0.30 | 0.65 | 0.91 | 0.62 |
| P/B Ratio | 2.35 | 1.22 | 1.14 | 0.73 | 0.89 | 1.80 | 0.57 | 0.66 | 1.31 | 1.85 | 1.47 |
| P/FCF | 11.05 | 6.07 | 6.32 | 5.65 | 28.27 | — | 6.88 | — | — | 33.00 | 6.55 |
| P/OCF | 10.07 | 5.53 | 5.38 | 4.48 | 14.64 | — | 5.49 | 20.05 | 11.58 | 16.17 | 5.66 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.51 | 0.57 | 0.51 | 0.35 | 0.70 | 0.18 | 0.25 | 0.59 | 0.85 | 0.54 |
| EV / EBITDA | 12.95 | 7.40 | 11.25 | 13.23 | 16.37 | 9.17 | — | — | 9.04 | 8.80 | 5.94 |
| EV / EBIT | 14.72 | 8.28 | 13.86 | 18.94 | 28.64 | 10.61 | — | — | 11.47 | 10.58 | 7.13 |
| EV / FCF | — | 6.64 | 8.74 | 10.99 | 46.61 | — | 4.40 | — | — | 30.77 | 5.77 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 22.2% | 22.2% | 21.1% | 18.0% | 13.4% | 20.2% | 14.5% | 15.8% | 20.1% | 23.2% | 22.7% |
| Operating Margin | 6.0% | 6.0% | 4.1% | 2.7% | 1.2% | 6.5% | -9.4% | -9.7% | 5.0% | 7.9% | 7.6% |
| Net Profit Margin | 4.6% | 4.6% | 2.6% | 3.8% | 0.3% | 4.8% | -7.3% | -7.4% | 3.6% | 5.1% | 4.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.7% | 12.7% | 7.2% | 10.8% | 1.2% | 13.4% | -14.1% | -14.6% | 7.5% | 10.8% | 12.2% |
| ROA | 7.2% | 7.2% | 3.7% | 5.3% | 0.7% | 8.6% | -10.9% | -12.1% | 6.4% | 9.2% | 9.9% |
| ROIC | 9.9% | 9.9% | 5.6% | 3.5% | 2.4% | 13.8% | -16.0% | -16.3% | 8.8% | 14.9% | 15.4% |
| ROCE | 12.3% | 12.3% | 7.6% | 4.8% | 3.3% | 16.4% | -17.6% | -19.2% | 10.3% | 16.7% | 18.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.35 | 0.35 | 0.47 | 0.71 | 0.59 | 0.20 | 0.07 | — | — | — | — |
| Debt / EBITDA | 1.96 | 1.96 | 3.34 | 6.64 | 6.62 | 0.92 | — | — | — | — | — |
| Net Debt / Equity | — | 0.12 | 0.44 | 0.69 | 0.58 | 0.19 | -0.21 | -0.11 | -0.11 | -0.13 | -0.18 |
| Net Debt / EBITDA | 0.64 | 0.64 | 3.11 | 6.42 | 6.44 | 0.89 | — | — | -0.87 | -0.64 | -0.81 |
| Debt / FCF | — | 0.57 | 2.42 | 5.33 | 18.34 | — | -2.48 | — | — | -2.23 | -0.78 |
| Interest Coverage | 386.23 | 386.23 | 11.03 | 7.87 | 8.07 | 3147.70 | -410.67 | — | — | — | 550.67 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.78 | 2.78 | 2.57 | 3.10 | 2.94 | 2.29 | 3.40 | 3.47 | 4.63 | 5.25 | 5.29 |
| Quick Ratio | 1.34 | 1.34 | 0.97 | 0.88 | 0.76 | 0.68 | 2.08 | 1.51 | 2.28 | 2.58 | 2.71 |
| Cash Ratio | 0.65 | 0.65 | 0.08 | 0.06 | 0.03 | 0.01 | 0.90 | 0.47 | 1.07 | 1.26 | 1.10 |
| Asset Turnover | — | 1.56 | 1.50 | 1.35 | 2.03 | 1.61 | 1.55 | 1.74 | 1.72 | 1.74 | 2.03 |
| Inventory Turnover | 3.85 | 3.85 | 3.37 | 2.64 | 3.34 | 2.37 | 4.45 | 3.99 | 4.06 | 3.62 | 4.50 |
| Days Sales Outstanding | — | 29.15 | 39.12 | 35.39 | 27.57 | 42.67 | 32.05 | 31.40 | 30.78 | 32.98 | 32.56 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.9% | 1.7% | 1.9% | 3.1% | 3.3% | 0.9% | 7.0% | 5.1% | 2.1% | 1.4% | 1.8% |
| Payout Ratio | 17.6% | 17.6% | 30.6% | 21.9% | 211.1% | 11.4% | — | — | 38.2% | 25.5% | 22.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.1% | 9.9% | 6.1% | 14.3% | 1.6% | 7.7% | — | — | 5.6% | 5.6% | 7.9% |
| FCF Yield | 9.1% | 16.5% | 15.8% | 17.7% | 3.5% | — | 14.5% | — | — | 3.0% | 15.3% |
| Buyback Yield | 0.0% | 0.0% | 1.0% | 3.6% | 29.9% | 9.9% | 1.6% | 0.0% | 0.0% | 0.3% | 0.1% |
| Total Shareholder Yield | 0.9% | 1.7% | 2.8% | 6.7% | 33.3% | 10.7% | 8.5% | 5.1% | 2.1% | 1.7% | 1.8% |
| Shares Outstanding | — | $6M | $6M | $5M | $7M | $7M | $8M | $8M | $8M | $8M | $8M |
Cyclical housing market sensitivity
According to current market data, Flexsteel trades at a forward P/E of 15.40, which suggests that investors are pricing in a cautious outlook for the furniture sector despite the company's recent revenue growth of 6.86% and its relatively modest valuation compared to high-growth industry peers.
The current P/S ratio of 0.89 indicates that the market assigns a discount to Flexsteel's revenue, likely reflecting concerns over the company's lack of a direct-to-consumer retail footprint. This valuation appears to hinge on the firm's ability to maintain margins in a high-interest-rate environment that typically suppresses discretionary home furnishing expenditures.
As reported in financial statements, Flexsteel's ROIC has fluctuated between -1.8% and 5.5% over the last ten quarters, indicating that the company is struggling to consistently generate returns that exceed its cost of capital during periods of significant macroeconomic volatility and shifting consumer demand.
The modest ROIC trend suggests that the company's proprietary Blue Steel Spring technology, while a differentiator, has not yet translated into superior pricing power or high-margin returns. Investors should monitor whether management can improve asset utilization to drive higher returns on invested capital as the housing market eventually stabilizes.
Based on the company's reported figures, the cash conversion cycle has remained elevated, peaking at 138 days in 2024Q2 before moderating to 95 days in 2026Q3, which highlights the inherent challenges in managing inventory levels across a complex, import-heavy supply chain in a cyclical industry.
The high days inventory outstanding, which reached 108 days in 2025Q1, suggests that Flexsteel carries significant inventory risk, potentially tying up capital that could otherwise be deployed for growth. The recent improvement in the CCC appears to be a positive development, though it warrants further investigation to determine if it is sustainable or merely a result of temporary de-stocking.
According to recent SEC filings, Flexsteel's current ratio has consistently remained above 2.5, reaching 3.44 in 2026Q3, which provides a substantial liquidity buffer that protects the company from operational shocks and allows for potential opportunistic capital allocation in a challenging economic climate.
The company's ability to maintain such high liquidity while operating in a cyclical sector is a testament to its conservative financial management. This strong position may allow the firm to weather prolonged industry downturns better than more leveraged competitors, though it raises questions about whether this capital is being utilized efficiently.
The P/E ratio is frequently misapplied to Flexsteel, as it obscures the significant impact of LIFO inventory accounting and non-operating items that often distort reported earnings in this specific manufacturing business model, leading to potentially misleading conclusions about the company's true underlying earning power.
Analysts should instead focus on EV/EBITDA or P/FCF to better capture the cash-generating capability of the business, as these metrics are less sensitive to the accounting distortions inherent in the company's inventory valuation methods. Relying solely on P/E may lead to an inaccurate assessment of the firm's valuation relative to its peers.
Includes 30+ ratios · 30 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying FLXS stock.
Flexsteel Industries, Inc.'s current P/E ratio is 19.6x. The historical average is 15.3x. This places it at the 96th percentile of its historical range.
Flexsteel Industries, Inc.'s current EV/EBITDA is 12.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.7x.
Flexsteel Industries, Inc.'s return on equity (ROE) is 12.7%. The historical average is 7.0%.
Based on historical data, Flexsteel Industries, Inc. is trading at a P/E of 19.6x. This is at the 96th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Flexsteel Industries, Inc.'s current dividend yield is 0.90% with a payout ratio of 17.6%.
Flexsteel Industries, Inc. has 22.2% gross margin and 6.0% operating margin.
Flexsteel Industries, Inc.'s Debt/EBITDA ratio is 2.0x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.