Flexsteel Industries
FLXS on Nasdaq. Flexsteel sells furniture to households through retail stores and online. Market value $360m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to June 2026.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Retail & consumer stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $13.24 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 45 of 100. Price score: 83 of 100. Our list needs 70 on quality and 60 on price.
$87.81 a share, 158% above its 1-year low
Over the past year the price has ranged from $34.00 to $90.65.
Dividend: 1.2% a year
Paid every year for at least 5 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $544m | $394m | $413m | $441m | $459m |
| Operating margin | |||||
| Operating margin | 1.2% | 2.7% | 4.1% | 6.0% | 9.3% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.01bn | 0.01bn | 0.01bn | 0.01bn | 0.00bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)7 of 8 checks we could run
- Profit backed by cash (accruals)Yes
- DebtUnknown
- Revenue growth, five yearsShrinking, 0.8% a year
- Buying back its own sharesYes, 21% fewer since 2022
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $115 million last quarter, about the same as a year ago.
- Profit: $13 million, up 19% on a year ago.
- It keeps 9 cents of each $1 of sales as operating profit, up from 6 cents a year earlier.
- Spare cash over the past 12 months: $48 million, up from $34 million.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $104m |
| December 2024 | $108m |
| March 2025 | $114m |
| June 2025 | $115m |
| September 2025 | $110m |
| December 2025 | $118m |
| March 2026 | $115m |
| June 2026 | $115m |
| Quarter to | Amount |
|---|---|
| September 2024 | $4m |
| December 2024 | $9m |
| March 2025 | -$4m |
| June 2025 | $11m |
| September 2025 | $7m |
| December 2025 | $7m |
| March 2026 | $6m |
| June 2026 | $13m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 19 August 2026
- Next quarterly (estimated, 10-Q)
- 22 July 2026
Who owns it
2 long-term investors we follow own it, up from 1 last quarter. 125 funds in all.
- LSV Asset ManagementJosef Lakonishok
- Value
- $2m
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| First Eagle Investment ManagementMatthew McLennan | $3m | <0.1% | New |
| LSV Asset ManagementJosef Lakonishok | $2m | <0.1% |
Largest holders overall
- Dimensional Fund Advisors LP$27mAdded
- BlackRock$21m
- American Century Companies$13mAdded
- Vanguard Capital Management$12mCut
- Renaissance Technologies$11mAdded
- Geode Capital Management$7mAdded
- Punch & Associates Investment Management$7m
- State Street$6m
- Acadian Asset Management$6mCut
- Jacobs Levy Equity Management$6mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- Derek P. SchmidtInsider or founder8.4%Since 28 April 2026
What they said
All of the outstanding shares of Common Stock reported herein were acquired by the Reporting Person for investment purposes only. Except as set forth herein, the Reporting Person has no present plan or proposal which would relate to or result in any of the matters set forth in…
Read the filing - BlackRock, Inc.Passive investor6.8%+1.4 ptsSince 30 June 2026
- Dimensional Fund Advisors LPPassive investor6.7%Since 31 December 2025
- Carolyn T. Bleile Declaration of Trust dated August 8, 2001Passive investorSold down below 5%Since 7 October 2025
- Jeffrey T. Bertsch Amended and Restated Trust Agreement dated December 26, 1987Passive investorSold down below 5%Since 7 October 2025
- Steven H. Bertsch Declaration of Trust dated November 6, 2020Passive investorSold down below 5%Since 7 October 2025
- Frank H. Bertsch Trust, No. 2 dated January 25, 1974Passive investorSold down below 5%Since 7 October 2025
| Holder | Stake | Since | |
|---|---|---|---|
Derek P. Schmidt Insider or founder | 8.4% | 28 April 2026 | What they saidAll of the outstanding shares of Common Stock reported herein were acquired by the Reporting Person for investment purposes only. Except as set forth herein, the Reporting Person has no present plan or proposal which would relate to or result in any of the matters set forth in… Read the filing |
BlackRock, Inc. Passive investor | 6.8%+1.4 pts | 30 June 2026 | |
Dimensional Fund Advisors LP Passive investor | 6.7% | 31 December 2025 | |
Carolyn T. Bleile Declaration of Trust dated August 8, 2001 Passive investor | Sold down below 5% | 7 October 2025 | |
Jeffrey T. Bertsch Amended and Restated Trust Agreement dated December 26, 1987 Passive investor | Sold down below 5% | 7 October 2025 | |
Steven H. Bertsch Declaration of Trust dated November 6, 2020 Passive investor | Sold down below 5% | 7 October 2025 | |
Frank H. Bertsch Trust, No. 2 dated January 25, 1974 Passive investor | Sold down below 5% | 7 October 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 5 sold $3m.
- Creekmuir William S.DirectorSold
- Date
- 15 September 2026
- Shares
- 1,000
- Price
- $81.03
- Value
- $81,033
- Creekmuir William S.DirectorSold
- Date
- 14 September 2026
- Shares
- 250
- Price
- $81.52
- Value
- $20,379
- Kammes Stacy MarieVP Talent, Customer ExperienceSold
- Date
- 8 September 2026
- Shares
- 2,750
- Price
- $82.66
- Value
- $227,315
- Creekmuir William S.DirectorSold
- Date
- 4 September 2026
- Shares
- 3,100
- Price
- $81.58
- Value
- $252,892
- Culbreth Michael ScottDirectorSold
- Date
- 3 September 2026
- Shares
- 4,000
- Price
- $80.85
- Value
- $323,398
- McClaflin Michael JosephChief Information OfficerSold
- Date
- 1 September 2026
- Shares
- 2,500
- Price
- $81.45
- Value
- $203,625
- Creekmuir William S.DirectorSold
- Date
- 1 September 2026
- Shares
- 3,008
- Price
- $81.54
- Value
- $245,287
- McClaflin Michael JosephChief Information OfficerSold
- Date
- 31 August 2026
- Shares
- 2,500
- Price
- $79.57
- Value
- $198,925
- Creekmuir William S.DirectorSold
- Date
- 28 August 2026
- Shares
- 3,100
- Price
- $81.85
- Value
- $253,747
- McClaflin Michael JosephChief Information OfficerSold
- Date
- 28 August 2026
- Shares
- 2,000
- Price
- $82.94
- Value
- $165,875
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 15 September 2026 | Creekmuir William S. Director | Sold | 1,000 | $81.03 | $81,033 |
| 14 September 2026 | Creekmuir William S. Director | Sold | 250 | $81.52 | $20,379 |
| 8 September 2026 | Kammes Stacy Marie VP Talent, Customer Experience | Sold | 2,750 | $82.66 | $227,315 |
| 4 September 2026 | Creekmuir William S. Director | Sold | 3,100 | $81.58 | $252,892 |
| 3 September 2026 | Culbreth Michael Scott Director | Sold | 4,000 | $80.85 | $323,398 |
| 1 September 2026 | McClaflin Michael Joseph Chief Information Officer | Sold | 2,500 | $81.45 | $203,625 |
| 1 September 2026 | Creekmuir William S. Director | Sold | 3,008 | $81.54 | $245,287 |
| 31 August 2026 | McClaflin Michael Joseph Chief Information Officer | Sold | 2,500 | $79.57 | $198,925 |
| 28 August 2026 | Creekmuir William S. Director | Sold | 3,100 | $81.85 | $253,747 |
| 28 August 2026 | McClaflin Michael Joseph Chief Information Officer | Sold | 2,000 | $82.94 | $165,875 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 19 Aug 2026, plus 1 later 8-K.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- Sales have shrunk: 0.8% a year.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.