What is Flexsteel Industries Return-on-Tangible-Asset?
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Flexsteel Industries's annualizedNet Income for the quarter that ended in Dec. 2023 was $12.2 Mil. Flexsteel Industries's average total tangible assets for the quarter that ended in Dec. 2023 was $278.7 Mil. Therefore, Flexsteel Industries's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2023 was 4.38%.
The historical rank and industry rank for Flexsteel Industries's Return-on-Tangible-Asset or its related term are showing as below:
FLXS'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -12.11 Med: 6.91 Max: 9.86
Current: 5.6
During the past 13 years, Flexsteel Industries's highest Return-on-Tangible-Asset was 9.86%. The lowest was -12.11%. And the median was 6.91%.
FLXS's Return-on-Tangible-Asset is ranked better than 64.78% of 423
companies
in the Furnishings, Fixtures & Appliances industry
Industry Median: 3.49
vs FLXS: 5.60
Flexsteel Industries Return-on-Tangible-Asset Historical Data
The historical data trend for Flexsteel Industries's Return-on-Tangible-Asset 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.
Competitive Comparison of Flexsteel Industries's Return-on-Tangible-Asset
For the Furnishings, Fixtures & Appliances subindustry, Flexsteel Industries's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset Distribution in the Furnishings, Fixtures & Appliances Industry
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Flexsteel Industries's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Flexsteel Industries's Return-on-Tangible-Asset falls into.
* 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Dec. 2023) net income data.
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Flexsteel Industries Return-on-Tangible-Asset Related Terms
Thank you for viewing the detailed overview of Flexsteel Industries's Return-on-Tangible-Asset provided by GuruFocus.com. Please click on the following links to see related term pages.
Flexsteel Industries (Flexsteel Industries) Business Description
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.
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