Flexsteel Industries, Inc.
FLXS Consumer Cyclical Furnishings Fixtures & Appliances
Flexsteel Industries, Inc.’s revenue for fiscal 2026 (year ended June 2026) was $459.2 million, up 4.10% from fiscal 2025. In the quarter to June 2026, revenue was flat, EPS grew 38.9% and free cash flow grew 25.6%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for three, operating cash flow growth for five.
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Flexsteel Industries, Inc. (FLXS) Altman Z-score
Flexsteel Industries, Inc.'s Altman Z-score for fiscal 2026 is 5.86, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 5.86 | 1.59 |
| FY2025 | 4.27 | 0.49 |
| FY2024 | 3.79 | 0.63 |
| FY2023 | 3.16 | (0.82) |
| FY2022 | 3.97 | (0.60) |
| FY2021 | 4.58 | 1.07 |
| FY2020 | 3.50 | (0.83) |
| FY2019 | 4.33 | (3.74) |
| FY2018 | 8.08 | (2.28) |
| FY2017 | 10.35 | 1.25 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.33 | — | 0.39 | |
| Retained earnings / total assets | 0.86 | — | 1.21 | |
| EBIT / total assets | 0.17 | — | 0.55 | |
| Market value of equity / total liabilities | 3.17 | — | 1.90 | |
| Sales / total assets | 1.81 | — | 1.81 | |
| Altman Z-score | Safe zone | 5.86 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 7.24 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| XMAX XMax Inc. compare | 8.3× |
| FLXS Flexsteel Industries, Inc. | 5.9× |
| ETD Ethan Allen Interiors Inc. compare | 4.2× |
| HBB Hamilton Beach Brands Holding Company compare | 3.5× |
| BSET Bassett Furniture Industries, Incorporated compare | 2.4× |
| LOVE The Lovesac Company compare | 2.0× |
| LCUT Lifetime Brands, Inc. compare | 1.6× |
| COOK Traeger, Inc. compare | −0.9× |
| ATER Aterian, Inc. compare | −33.6× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets