公司概述
Haverty Furniture Companies, Inc. operates as a specialty retailer of residential furniture and accessories within the United States, offering merchandise under its Havertys brand name alongside custom upholstery, eclectic looks, and mattress products. The company functions within the Consumer Cyclical sector and specifically targets the Home Improvement Retail industry, positioning it as a business whose performance is intrinsically linked to consumer discretionary spending and housing market dynamics. Haverty Furniture Companies, Inc. holds a market capitalization of $364.80M, generated $759.00M in annual revenue, and employs 2,392 individuals to execute its retail strategy. These financial figures indicate a mid-cap enterprise with a significant operational footprint, yet the market valuation relative to revenue suggests a specialized niche presence rather than broad-based dominance in the home furnishings landscape.
财务健康
The company reported total revenue of $759.00M over the trailing twelve months, with a corresponding net income of $19.73M and an EBITDA of $45.46M, revealing a cost structure where operating expenses and taxes consume a substantial portion of gross sales before reaching the bottom line. The generation of $21.94M in free cash flow provides the firm with a degree of financial flexibility to fund operations or manage working capital, though the amount remains modest relative to total EBITDA. Margins reflect a high-gross-margin business model with a Gross Margin of 60.7%, an Operating Margin of 5.0%, and a Profit Margin of 2.6%, indicating that while the core product mix is highly profitable, significant overhead costs compress operating income before interest and taxes. Liquidity and leverage metrics show the company holding $125.33M in cash against $216.42M in debt, resulting in a Debt to Equity ratio of 70.28, which characterizes a moderately leveraged balance sheet that relies on external financing for its asset base. The Current Ratio stands at 1.87, signaling strong short-term liquidity and the ability to meet current obligations with current assets. Efficiency and return metrics demonstrate a Return on Equity of 6.4% and a Return on Assets of 2.1%, suggesting that management effectiveness in generating returns on shareholder capital and total assets is constrained by the company's asset-heavy retail model and leverage profile.
估值评估
Valuation metrics for Haverty Furniture Companies, Inc. include a Trailing Twelve Months P/E Ratio of 18.91 and a Forward P/E of 7.50, implying that the market expects a significant contraction in future earnings or a sharp re-rating of current valuations to justify the forward multiple. The Price to Book ratio is recorded at 1.18, indicating that the stock trades at a slight premium over its book value, though not at the high multiples typically seen in growth-oriented retail sectors. Alternative valuation measures such as a Price to Sales ratio of 0.48 and an EV/EBITDA of 9.99 suggest the company is priced conservatively relative to its sales volume and earnings power before interest, taxes, depreciation, and amortization. The stock's price action over the last year has ranged between a 52-Week High of $27.67 and a 52-Week Low of $17.01, with the current trading price situated well below the peak, reflecting recent market pressure or a correction from historical highs. The Beta value of 1.29 indicates that the stock exhibits higher volatility than the broader market, moving with greater intensity during periods of market stress or rally, which is characteristic of smaller-cap consumer discretionary stocks.
Growth & Income
Revenue growth over the past year stands at 9.5%, while earnings growth is recorded at 3.8%, indicating that earnings are expanding at a slower pace than revenue, which points to rising cost pressures or margin compression affecting the bottom line more than top-line sales volume. As a dividend payer, the company offers a Dividend Yield of 5.8% with a Payout Ratio of 108.4%, a metric that suggests the payout exceeds current earnings and may rely on cash reserves or debt capacity to maintain, potentially signaling sustainability risks if earnings do not accelerate significantly. The high payout ratio relative to the low Profit Margin of 2.6% necessitates careful monitoring of cash flow generation to ensure the dividend remains secure without depleting working capital. Overall, the growth and income profile presents a trade-off between attractive current yield and moderate revenue expansion, with earnings growth lagging behind sales growth and the dividend policy straining against current profitability levels.