NYSE: SCS · Steelcase Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $3.17B | $3.16B | $3.23B | $2.77B | $2.60B | $3.72B |
| Cost of Revenue | $2.11B | $2.01B | $2.31B | $2.01B | $1.82B | $2.51B |
| Gross Profit | $1.05B | $1.01B | $919.40M | $761.50M | $762.80M | $1.22B |
| R&D | $50.40M | $48.20M | $44.40M | $45.40M | $48.10M | $50.60M |
| SG&A | - | - | - | - | - | - |
| Total Operating Expenses | $888.00M | $876.50M | $837.20M | $741.40M | $684.20M | $958.20M |
| D&A | $80.80M | $83.60M | $90.00M | $83.20M | $85.20M | $85.60M |
| Operating Income | $158.10M | $117.80M | $65.50M | $20.10M | $43.00M | $257.00M |
| Interest Expense | $25.70M | $25.90M | $28.40M | $25.70M | $27.10M | $27.30M |
| Income Tax | $13.50M | $26.00M | $16.30M | ($2.40M) | ($200.0K) | $45.50M |
| Net Income | $120.70M | $81.10M | $35.30M | $4.00M | $26.10M | $199.70M |
| EPS - Basic | $1.02 | $0.68 | $0.30 | $0.03 | $0.22 | $1.67 |
| EPS - Diluted | $1.02 | $0.68 | $0.30 | $0.03 | $0.22 | $1.66 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $346.30M | $318.60M | $90.40M | $200.90M | $489.80M | $541.00M |
| Accounts Receivable | $323.10M | $338.30M | $373.30M | - | $279.00M | $372.40M |
| Inventory | $245.70M | $231.00M | $319.70M | $326.20M | $193.50M | $215.00M |
| Accounts Payable | $228.20M | $211.30M | $203.50M | $243.60M | $181.30M | $244.30M |
| Current Assets | $1.03B | $959.40M | $884.00M | $959.20M | $1.05B | $1.19B |
| Total Assets | $2.33B | $2.24B | $2.20B | $2.26B | $2.35B | $2.57B |
| Current Liabilities | $669.10M | $607.10M | $603.30M | $567.20M | $515.00M | $690.90M |
| Long-term Debt | $447.10M | $446.30M | $445.50M | $477.40M | $479.20M | $481.40M |
| Total Liabilities | $1.38B | $1.35B | $1.38B | $1.41B | $1.39B | $1.59B |
| Stockholders' Equity | $951.70M | $887.10M | $826.20M | $852.20M | $960.50M | $970.40M |
| Retained Earnings | $985.90M | $912.80M | $879.30M | $901.30M | $988.00M | $1.01B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $148.50M | $308.70M | $89.40M | ($102.60M) | $64.80M | $360.80M |
| Investing Cash Flow | ($34.80M) | $6.10M | ($134.80M) | ($65.50M) | ($30.60M) | $4.50M |
| Financing Cash Flow | ($84.00M) | ($85.90M) | ($62.90M) | ($120.00M) | ($87.80M) | ($81.90M) |
| CapEx | $47.10M | $47.10M | $59.10M | $60.50M | $41.30M | $73.40M |
| Free Cash Flow | $101.40M | $261.60M | $30.30M | ($163.10M) | $23.50M | $287.40M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 33.1% | 32.0% | 28.4% | 27.5% | 29.4% | 32.6% |
| Operating margin | 5.0% | 3.7% | 2.0% | 0.7% | 1.7% | 6.9% |
| EBITDA margin | 7.5% | 6.4% | 4.8% | 3.7% | 4.9% | 9.2% |
| Net margin | 3.8% | 2.6% | 1.1% | 0.1% | 1.0% | 5.4% |
| Free cash flow margin | 3.2% | 8.3% | 0.9% | -5.9% | 0.9% | 7.7% |
| FCF / Net income | 0.84 | 3.23 | 0.86 | -40.77 | 0.90 | 1.44 |
| R&D / Revenue | 1.6% | 1.5% | 1.4% | 1.6% | 1.9% | 1.4% |
| SG&A / Revenue | - | - | - | - | - | - |
| Effective tax rate | 10.1% | 24.3% | 31.6% | -150.0% | -0.8% | 18.6% |
| Return on assets | 5.2% | 3.6% | 1.6% | 0.2% | 1.1% | 7.8% |
| Return on equity | 12.7% | 9.1% | 4.3% | 0.5% | 2.7% | 20.6% |
| Return on invested capital | 10.2% | 6.7% | 3.5% | 1.5% | 3.0% | 14.4% |
| Liquidity | ||||||
| Current ratio | 1.54 | 1.58 | 1.47 | 1.69 | 2.03 | 1.72 |
| Quick ratio | 1.17 | 1.20 | 0.94 | 1.12 | 1.65 | 1.41 |
| Cash ratio | 0.52 | 0.52 | 0.15 | 0.35 | 0.95 | 0.78 |
| Leverage | ||||||
| Debt / Equity | 0.47 | 0.50 | 0.54 | 0.56 | 0.50 | 0.50 |
| Debt / Assets | 0.19 | 0.20 | 0.20 | 0.21 | 0.20 | 0.19 |
| Debt / EBITDA | 1.87 | 2.22 | 2.86 | 4.62 | 3.74 | 1.41 |
| Interest coverage | 6.2x | 4.5x | 2.3x | 0.8x | 1.6x | 9.4x |
| Equity multiplier | 2.45 | 2.52 | 2.67 | 2.65 | 2.45 | 2.64 |
| Liabilities / Assets | 0.59 | 0.60 | 0.62 | 0.62 | 0.59 | 0.62 |
| Efficiency | ||||||
| Asset turnover | 1.36 | 1.41 | 1.47 | 1.23 | 1.10 | 1.45 |
| Inventory turnover | 8.58 | 8.71 | 7.23 | 6.17 | 9.42 | 11.67 |
| Days sales outstanding | 37d | 39d | 42d | - | 39d | 37d |
| Days inventory outstanding | 43d | 42d | 51d | 59d | 39d | 31d |
| Days payable outstanding | 39d | 38d | 32d | 44d | 36d | 36d |
| Cash conversion cycle | 40d | 43d | 61d | - | 42d | 32d |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 0.2% | -2.3% | 16.6% | 6.8% | -30.3% | - |
| Revenue CAGR (3y) | 4.5% | 6.8% | -4.6% | - | - | 7.1% |
| Revenue CAGR (5y) | -3.2% | - | - | -1.8% | -3.2% | 4.0% |
| Gross profit growth (YoY) | 3.4% | 10.1% | 20.7% | -0.2% | -37.2% | - |
| Operating income growth (YoY) | 34.2% | 79.8% | 225.9% | -53.3% | -83.3% | - |
| Net income growth (YoY) | 48.8% | 129.7% | 782.5% | -84.7% | -86.9% | - |
| EPS growth (YoY) | 50.0% | 126.7% | 900.0% | -86.4% | -86.7% | - |
| EPS CAGR (3y) | 224.0% | 45.7% | -43.5% | - | - | 17.2% |
| EPS CAGR (5y) | -9.3% | - | - | -50.7% | -30.5% | 19.5% |
| FCF growth (YoY) | -61.2% | 763.4% | - | - | -91.8% | - |
| FCF CAGR (5y) | -18.8% | - | - | - | -24.1% | - |
| Book value growth (YoY) | 7.3% | 7.4% | -3.1% | -11.3% | -1.0% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-02-28.
Product / service
$2.47B totalSystems And Storage$1.11B · 45.0%
Other Product Category$694.40M · 28.2%
Seating$662.50M · 26.9%
Geographic
$3.17B totalUS$2.29B · 72.4%
Foreignlocations$873.80M · 27.6%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
2.33
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- -No share dilution
- ✓Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Office Furniture (No Wood)
| Company | Revenue (last FY) | Net margin | ROE |
|---|---|---|---|
| HNI | $2.84B | 1.9% | 3.0% |
Comparing STEELCASE INC against the 1 most active filer in the same SIC group.