STEELCASE INC Reports Total Revenue of USD 854.6 Million for Q2 Ending August 31, 2023, a 1.0% Decrease Year-Over-Year
September 21, 2023
🌥️Earnings Overview
For the second quarter ending August 31 2023, STEELCASE INC ($NYSE:SCS) reported total revenue of USD 854.6 million, a 1.0% decrease from the same period the previous year. The company had a net income of USD 27.5 million, a 40.3% year-over-year increase.
Analysis
GoodWhale has conducted an analysis of STEELCASE INC‘s fundamentals and classified it as a ‘rhino’ company. This type of company is one that has achieved moderate revenue or earnings growth, making it an attractive option for certain types of investors. Upon further examination of the company, GoodWhale has determined that it is strong in asset and dividend quality, moderate in profitability and weak in growth. Despite this, STEELCASE INC has a health score of 7/10, which suggests that it is in a good financial position and should be able to safely ride out any crisis without the risk of bankruptcy. Therefore, investors with a moderate risk appetite may be interested in STEELCASE INC as it offers a reliable long-term option with moderate growth potential. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Steelcase Inc. More…
| Total Revenues | Net Income | Net Margin |
| 3.24k | 54.8 | 2.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Steelcase Inc. More…
| Operations | Investing | Financing |
| 295 | -29.4 | -163.9 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Steelcase Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.2k | 1.35k | 7.48 |
Key Ratios Snapshot
Some of the financial key ratios for Steelcase Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.3% | -15.8% | 3.4% |
| FCF Margin | ROE | ROA |
| 7.4% | 8.1% | 3.1% |
Peers
Founded in 1912, Steelcase Inc. has grown to become one of the largest and most successful office furniture manufacturers in the world. The company’s main competitors include Okamura Corp, AHB Holdings Bhd, and Kokuyo Co Ltd, all of which are global leaders in office furniture manufacturing. Steelcase Inc. offers a broad selection of products and services that meet the needs of businesses and organizations around the world.
– Okamura Corp ($TSE:7994)
Okamura Corp is a Japanese office furniture manufacturer and supplier. It has a market cap of 132.04B as of 2022, which places it among the largest companies in Japan and the world. Additionally, Okamura Corp has a Return on Equity (ROE) of 10.02%, indicating that it is a profitable and efficient company. This high ROE demonstrates that Okamura Corp is capable of generating a healthy return on its equity while providing quality products and services to its customers.
– AHB Holdings Bhd ($KLSE:7315)
AHB Holdings Bhd is a Malaysian-based investment holding company that provides a range of services including money lending, corporate finance, investment banking, and stockbroking. The company has a market cap of 52.61M as of 2022, making it a small-cap company. The Return on Equity (ROE) of AHB Holdings stands at -11.97%, indicating that the company is not generating enough profit to cover its cost of equity. This means that the company is not achieving the adequate return on its shareholders’ investments.
– Kokuyo Co Ltd ($TSE:7984)
Kokuyo Co Ltd is a Japanese stationery and office products company based in Tokyo, Japan. It has a market capitalization of 214.96B as of 2022 and a Return on Equity of 5.94%. This suggests that the company has been able to effectively utilize its assets and equity to generate profit. The company manufactures a wide range of office supplies, including stationery, paper products, desks, and furniture. It also produces environmental-friendly products such as recycle paper and eco-friendly ink. The company has a strong presence in Japan and other parts of Asia, with products being sold in more than 100 countries around the world.
Summary
Investors may be interested in Steelcase Inc. as the company reported total revenue of USD 854.6 million for the second quarter ending Aug. 31, 2023, a 1.0% decrease compared to the same period in FY 2024. Net income increased by 40.3% year-over-year to USD 27.5 million. Despite a small decline in revenue growth, Steelcase Inc. appears to be doing well as its net income continues to rise. Investors are encouraged to conduct further analysis into the financials of the company to make an informed decision on whether or not to invest.
Related Posts
Recent Posts
