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Flexsteel IndustriesFLXS -0.03%58 Net-Net Working Capital is $4.45 as of Mar. 2026. GuruFocus rates FLXS with a GF Score™ of 58/100 and a GF Value™ of $38.08 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 177 Furnishings, Fixtures & Appliances companies, Flexsteel Industries ranks worse than 75.14% on this metric.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
Flexsteel Industries's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $4.45.
The industry rank for Flexsteel Industries's Net-Net Working Capital or its related term are showing as below:
FLXS's Price-to-Net-Net-Working-Capital is ranked worse than 75.14% of 177
companies
in the Furnishings, Fixtures & Appliances industry
Industry Median: 6.9
vs FLXS: 17.44
Flexsteel Industries (NAS:FLXS) Net-Net Working Capital Explanation
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.
Flexsteel Industries Net-Net Working Capital Related Terms
Flexsteel Industries Net-Net Working Capital Historical Data
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The historical data trend for Flexsteel Industries's Net-Net Working Capital 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.
Flexsteel Industries Net-Net Working Capital Chart
FLXS vs HBB, LOVE, LCUT: Net-Net Working Capital Comparison
For the Furnishings, Fixtures & Appliances subindustry, Flexsteel Industries's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital 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 Price-to-Net-Net-Working-Capital vs Furnishings, Fixtures & Appliances Industry
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Flexsteel Industries's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Flexsteel Industries's Price-to-Net-Net-Working-Capital 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 calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.
In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
This is a conservative way of estimating the company's value.
What does a Net-Net Working Capital of $4.45 mean?
Flexsteel Industries (FLXS) has a Net-Net Working Capital of $4.45 as of Mar. 2026. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Flexsteel Industries According to the industry distribution chart, Flexsteel Industries ranks #133 out of 177 companies in the Furnishings, Fixtures & Appliances industry, placing it in the top 75.1%.
Is Flexsteel Industries' Net-Net Working Capital too high?
Flexsteel Industries' current Net-Net Working Capital is $4.45. The Furnishings, Fixtures & Appliances industry median Net-Net Working Capital is 6.90. Flexsteel Industries' value of $4.45 is 35.5% below this industry median. Based on the distribution chart, Flexsteel Industries ranks #133 out of 177 companies in the Furnishings, Fixtures & Appliances industry, which is in the bottom quartile relative to peers. Overall, Flexsteel Industries has a GF Score™ of 58/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Flexsteel Industries' Net-Net Working Capital compare to HBB and LOVE?
According to the Furnishings, Fixtures & Appliances industry distribution chart, Flexsteel Industries ranks #133 out of 177 companies for Net-Net Working Capital. This places Flexsteel Industries in the lower half of its industry. The industry median Net-Net Working Capital is 6.90. Flexsteel Industries' value of $4.45 is 35.5% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for a Furnishings, Fixtures & Appliances company?
The median Net-Net Working Capital among Furnishings, Fixtures & Appliances companies is 6.90, based on 177 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Flexsteel Industries's current Net-Net Working Capital of $4.45 is 35.5% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Flexsteel Industries For the Furnishings, Fixtures & Appliances industry, the median Net-Net Working Capital is 6.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Flexsteel Industries's current Net-Net Working Capital is $4.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Flexsteel Industries stock overvalued right now?
Based on GuruFocus' analysis, Flexsteel Industries (FLXS) is currently considered Significantly Overvalued. The stock's GF Value™ is $38.08, compared to a current price of $77.62 — trading 103.8% above its estimated fair value. The current Net-Net Working Capital is $4.45 and 35.5% below the Furnishings, Fixtures & Appliances industry median of 6.90. Flexsteel Industries' overall GF Score™ is 58/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For Flexsteel Industries (FLXS), the current Net-Net Working Capital is $4.45 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Flexsteel Industries (FLXS) Overvalued in 2026?
Based on GuruFocus' analysis, Flexsteel Industries stock appears to be overvalued.
The current stock price of $77.62 is trading 103.8% above its estimated GF Value™ of $38.08.
GuruFocus considers Flexsteel Industries to be Significantly Overvalued.
Key valuation signals for FLXS:
Net-Net Working Capital: $4.45
GF Value™: $38.08 vs. price of $77.62 (103.8% above fair value)
Industry Position: 35.5% below the Furnishings, Fixtures & Appliances median (#133 of 177)
No single metric tells the full story. See the FLXS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Flexsteel Industries Inc is a United States-based company that manufactures, imports, and markets residential upholstered wooden furniture products. Its product offerings 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 markets.
58GF Score
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