회사 개요
Haverty Furniture Companies, Inc. operates within the United States as a specialty retailer focused on residential furniture and accessories, offering merchandise under the Havertys brand alongside custom upholstery, eclectic design looks, and mattress products. The enterprise is categorized within the consumer cyclical sector and specifically functions in the home improvement retail industry, positioning it to be sensitive to macroeconomic consumption trends and discretionary spending levels. As of the latest data, the company possesses a market capitalization of $364.80M and generates annual revenue totaling $759.00M, supported by an operational workforce of 2,392 employees. These financial dimensions indicate that Haverty maintains a mid-cap profile with a revenue base that suggests a specialized but established footprint in the competitive home furnishings market.
재무 건전성
The company reported a total revenue of $759.00M over the trailing twelve months, with a net income of $19.73M and an EBITDA of $45.46M, revealing a significant gap between top-line sales and bottom-line profit that highlights a cost structure heavily influenced by operating expenses and the retail margin environment. Free cash flow stands at $21.94M, which provides a measure of financial flexibility for capital allocation, debt servicing, or operational investments without relying on external financing. The gross margin is reported at 60.7%, reflecting the high markup typical of furniture retail, while the operating margin of 5.0% and profit margin of 2.6% demonstrate the substantial impact of overhead costs and taxes on the final earnings per dollar of revenue. On the balance sheet, the company holds $125.33M in cash against $216.42M in debt, resulting in a debt-to-equity ratio of 70.28%, which indicates a leveraged capital structure where equity is less than half the value of the debt obligations. The current ratio of 1.87 suggests that the company maintains sufficient short-term liquid assets to cover its current liabilities, providing a buffer against immediate liquidity pressures. Furthermore, the return on equity (ROE) of 6.4% and return on assets (ROA) of 2.1% offer insight into management effectiveness, showing that while the company generates returns on its shareholders' equity, the low ROA reflects the capital-intensive nature of holding inventory and retail assets.
밸류에이션 평가
Valuation metrics for Haverty Furniture Companies, Inc. show a trailing P/E ratio of 18.91 compared to a forward P/E of 7.50, implying that the market currently prices in significantly higher future earnings expectations relative to current profitability levels. The price-to-book ratio stands at 1.18, indicating that the market values the company at a slight premium over its tangible book value, a common characteristic for retail firms with brand equity and specialized inventory. Alternative valuation measures such as the price-to-sales ratio of 0.48 and an EV/EBITDA of 9.99 provide context on the company's revenue efficiency and enterprise value relative to its operating earnings before interest and taxes. The stock has traded within a 52-week range bounded by a high of $27.67 and a low of $17.01, and given the forward P/E of 7.50 versus the trailing P/E of 18.91, the current valuation context suggests the stock price is positioned significantly lower relative to its recent peak, reflecting market sentiment regarding its earnings trajectory. The beta value of 1.29 indicates that the stock exhibits higher volatility than the broader market, meaning price fluctuations for HVT tend to be amplified by market movements more so than large-cap index components.
Growth & Income
Revenue growth over the past year stands at 9.5%, while earnings growth is recorded at 3.8%, indicating that profitability is expanding at a slower pace than sales volume, which often signals rising operational costs or pricing pressures that are not fully passed on to consumers. The company offers a dividend yield of 5.8% with a payout ratio of 108.4%, a metric that suggests the dividend payments exceed the current net income generated in the trailing twelve months. Such a payout ratio exceeding 100% implies that the company may be drawing down on cash reserves or utilizing other capital sources to sustain the dividend, which raises questions regarding the sustainability of this income stream given the current earnings base. Overall, the growth profile demonstrates double-digit revenue expansion coupled with moderate earnings acceleration, while the income profile presents a high-yield dividend that is currently mathematically unsustainable based strictly on reported net income figures.