Flexsteel Industries (Flexsteel Industries) Gross Margin % : 21.93% (As of Dec. 2023)

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What is Flexsteel Industries Gross Margin %?

Gross Margin % is calculated as gross profit divided by its revenue. Flexsteel Industries's Gross Profit for the three months ended in Dec. 2023 was $22.0 Mil. Flexsteel Industries's Revenue for the three months ended in Dec. 2023 was $100.1 Mil. Therefore, Flexsteel Industries's Gross Margin % for the quarter that ended in Dec. 2023 was 21.93%.

Warning Sign:

Flexsteel Industries Inc gross margin has been in long-term decline. The average rate of decline per year is -2%.

The historical rank and industry rank for Flexsteel Industries's Gross Margin % or its related term are showing as below:

FLXS' s Gross Margin % Range Over the Past 10 Years
Min: 13.35 Med: 20.14 Max: 23.53
Current: 20.05

During the past 13 years, the highest Gross Margin % of Flexsteel Industries was 23.53%. The lowest was 13.35%. And the median was 20.14%.

FLXS's Gross Margin % is ranked worse than
77.89% of 407 companies
in the Furnishings, Fixtures & Appliances industry
Industry Median: 28.53 vs FLXS: 20.05

Flexsteel Industries had a gross margin of 21.93% for the quarter that ended in Dec. 2023 => Competition eroding margins

The 5-Year average Growth Rate of Gross Margin for Flexsteel Industries was -2.00% per year.

Flexsteel Industries Gross Margin % Historical Data

The historical data trend for Flexsteel Industries's Gross Margin % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Flexsteel Industries Gross Margin % Chart

Flexsteel Industries Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Gross Margin %

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15.77

14.46

20.20

13.35

18.02

Flexsteel Industries Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Gross Margin %	Get a 7-Day Free Trial															17.01	18.82	19.95	19.46	21.93

Competitive Comparison of Flexsteel Industries's Gross Margin %

For the Furnishings, Fixtures & Appliances subindustry, Flexsteel Industries's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Flexsteel Industries's Gross Margin % Distribution in the Furnishings, Fixtures & Appliances Industry

For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Flexsteel Industries's Gross Margin % distribution charts can be found below:

* The bar in red indicates where Flexsteel Industries's Gross Margin % falls into.

Flexsteel Industries Gross Margin % Calculation

Gross Margin is the percentage of Gross Profit out of sales or Revenue.

Flexsteel Industries's Gross Margin for the fiscal year that ended in Jun. 2023 is calculated as

Gross Margin % (A: Jun. 2023 )	=	Gross Profit (A: Jun. 2023 )	/	Revenue (A: Jun. 2023 )
	=	70.9	/	393.692
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(393.692 - 322.745)	/	393.692
	=	18.02 %

Flexsteel Industries's Gross Margin for the quarter that ended in Dec. 2023 is calculated as

Gross Margin % (Q: Dec. 2023 )	=	Gross Profit (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	22	/	100.108
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(100.108 - 78.158)	/	100.108
	=	21.93 %

A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.

Flexsteel Industries (NAS:FLXS) Gross Margin % Explanation

Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.

Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %

1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key

Flexsteel Industries had a gross margin of 21.93% for the quarter that ended in Dec. 2023 => Competition eroding margins

Be Aware

If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.

Flexsteel Industries Gross Margin % Related Terms

Thank you for viewing the detailed overview of Flexsteel Industries's Gross Margin % provided by GuruFocus.com. Please click on the following links to see related term pages.

Flexsteel Industries (Flexsteel Industries) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Furnishings, Fixtures & Appliances » Flexsteel Industries Inc (NAS:FLXS) » Definitions » Gross Margin %

Comparable Companies

Traded in Other Exchanges

N/A

Address

385 Bell Street, Dubuque, IA, USA, 52001-0877

Website

https://www.flexsteel.com

Flexsteel Industries Inc is a United States-based company that manufactures, imports, and markets residential upholstered wooden furniture products. The products offering include sofas, loveseats, chairs, rockers, desks, tables, convertible bedding units, and bedroom furniture. The company's products are intended for use in home, office, hotel, healthcare, and other contract applications. A featured component in the company's upholstered furniture is the durable Blue Steel Spring. It operates in the business segment of Furniture products. The company's furniture products business involves the distribution of manufactured and imported products for residential and contract markets, of which key revenue is derived from the residential market.

Executives

Timothy Patrick Newlin	officer: VP - Home Furnishings	P.O. BOX 877, DUBUQUE IA 52004-0877
Derek P Schmidt	officer: CFO & COO	385 BELL STREET, DUBUQUE IA 52001
Jeanne Mcgovern	director	10003 WOODLOCH FOREST DRIVE, THE WOODLANDS TX 77380
Gilbert Alejandro Huerta	officer: CFO	P.O. BOX 877, DUBUQUE IA 52004
Thomas M Levine	director	P. O. BOX 877, DUBUQUE IA 52004
Kathryn P Dickson	director	1245 CEDAR LAKE ROAD S., MINNEAPOLIS MN 55416
Michael Scott Culbreth	director	3102 SHAWNEE DRIVE, WINCHESTER VA 22601
William S. Creekmuir	director	SIX CONCOURSE PARKWAY, SUITE 3300-A, ATLANTA GA 30328
Matthew Kaness	director	P.O. BOX 877, DUBUQUE IA 52004
Michael Joseph Mcclaflin	officer: Chief Information Officer	P.O. BOX 877, DUBUQUE IA 52004-0877
Jerald K Dittmer	officer: President & CEO	P.O. BOX 877, DUBUQUE IA 52004
Mary C Bottie	director	P. O. BOX 877, DUBUQUE IA 52004
Terrence Heath Willis	officer: VP - Direct Commerce	P.O. BOX 877, DUBUQUE IA 52004-0877
Hayden Carl Anthony Jr.	officer: VP - Manufacturing	P.O. BOX 877, DUBUQUE IA 52004-0877
Marcus D Hamilton	officer: Chief Financial Officer	P. O. BOX 877, DUBUQUE IA 52004