Flexsteel Industries Inc. (FLXS) intrinsic value & 10-year financials
Flexsteel Industries Inc. (FLXS) has a Graham intrinsic value of $34.85 per share. At $84.01 on Oct 17, 2026, the stock trades 141% above that value. Over the last 10 fiscal years revenue shrank 1.4% a year to $441.1M, with an average return on invested capital of 3.2%.
- Graham intrinsic value
- $34.85
- Share price (Oct 17, 2026)
- $84.01
- Price vs Graham value
- 141% above
- Market cap
- $477.0M
- Revenue (FY2025)
- $441.1M
- Revenue growth (10-yr CAGR)
- -1.4%
- ROIC (10-yr avg)
- 3.2%
- Free cash flow (FY2025)
- $33.7M
FLXS 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $441.1M | $20.2M | $3.55 | $33.7M | 6.0% | 10.4% |
| FY2024 | $412.8M | $10.5M | $1.91 | $27.1M | 4.1% | 5.7% |
| FY2023 | $393.7M | $14.8M | $2.74 | $18.2M | 2.7% | 5.8% |
| FY2022 | $544.3M | $1.9M | $0.28 | $4.1M | 1.2% | 1.9% |
| FY2021 | $478.9M | $23.0M | $3.09 | -$35.3M | 6.5% | 14.0% |
| FY2020 | $366.9M | -$26.8M | -$3.37 | $14.6M | -9.4% | -20.3% |
| FY2019 | $443.6M | -$32.6M | -$4.13 | -$14.6M | -9.7% | -14.8% |
| FY2018 | $489.2M | $17.7M | $2.23 | -$2.2M | 5.0% | 7.3% |
| FY2017 | $468.8M | $23.8M | $3.02 | $12.9M | 7.9% | 10.7% |
| FY2016 | $500.1M | $24.2M | $3.12 | $47.0M | 7.6% | 11.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
FLEXSTEEL INDUSTRIES INC is facing top-line stagnation, with revenue contracting over the decade.
FLEXSTEEL INDUSTRIES INC has historically struggled to out-earn its cost of capital, averaging just 3.2% ROIC.
Over the decade, FLEXSTEEL INDUSTRIES INC shows that management has aggressively returned capital to shareholders by retiring 26.9% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, FLEXSTEEL INDUSTRIES INC is modeled at 1.4% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $34.85 per share.