Flexsteel Industries, Inc. (FLXS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+296.8%

$287.68

vs $72.50 price

Levered DCF

$463.84

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

6.27

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	11.53×	9.38×	16.13×	6.75×	62.07×	12.62×	-3.75×	-4.22×
P/B	2.86×	1.13×	1.13×	0.71×	0.87×	1.73×	0.57×	0.67×
P/S	0.83×	0.43×	0.41×	0.25×	0.21×	0.61×	0.27×	0.31×
EV / EBITDA	8.99×	6.79×	11.18×	13.01×	15.94×	8.81×	-2.54×	-3.28×
Gross margin	24.7%	22.2%	21.1%	18.0%	13.4%	20.2%	14.5%	15.8%
Operating margin	9.3%	6.0%	4.1%	2.7%	1.2%	6.5%	-9.4%	-9.7%
Net margin	7.2%	4.6%	2.6%	3.8%	0.3%	4.8%	-7.3%	-7.4%
Current ratio	2.09×	2.78×	2.57×	3.1×	2.94×	2.29×	3.4×	3.47×
Debt / equity	0.39×	0.35×	0.47×	0.71×	0.59×	0.2×	0.07×	0×
Interest coverage	1,934.09×	380.21×	11.02×	7.86×	7.92×	3,120×	-419.45×	0×
Dividend yield	1.1%	1.9%	1.9%	3.2%	3.4%	0.9%	7.0%	5.0%
Payout ratio	13.2%	17.6%	30.6%	21.9%	211.1%	11.4%	-26.2%	-21.2%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	24.8%	12.0%	7.0%	10.4%	1.4%	13.7%	-15.3%	-15.9%
Return on invested capital	17.2%	8.7%	5.2%	4.3%	1.0%	11.3%	-14.5%	-16.0%
Return on assets	13.0%	7.1%	3.8%	5.1%	0.7%	7.8%	-11.3%	-12.8%
Free cash flow yield	12.5%	17.8%	15.9%	18.2%	3.6%	-12.1%	14.5%	-10.6%
Earnings yield	8.7%	10.7%	6.2%	14.8%	1.6%	7.9%	-26.7%	-23.7%
Enterprise value	$416.9M	$208.5M	$235.8M	$196.9M	$189.8M	$323.1M	$64.3M	$115.2M
Net debt / EBITDA	0.76×	0.63×	3.11×	6.41×	6.37×	0.88×	1.43×	0.63×
Cash conversion cycle (days)	91	97	118	145	112	132	82	105