Steelcase Sustains Gains as Office Furniture Demand Increases
November 25, 2023
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Steelcase Inc ($NYSE:SCS)., a leading manufacturer of office furniture, has seen a marked increase in demand for its products as the demand for office furniture continues to rise. As the world’s largest office furniture maker, Steelcase has been able to sustain its gains and remain a leader in the industry. With an emphasis on innovation and delivering the best possible products to clients, Steelcase Inc. not only provides practical solutions for office furniture but also creates innovative designs that reflect the modern office environment. The company works with customers to create custom-made pieces that meet their needs and reflect their individual style.
In addition, Steelcase is committed to reducing environmental impact and fostering sustainability initiatives through their products. Steelcase Inc. continues to thrive as the premier office furniture manufacturer, remaining at the forefront of the market and creating quality products that meet customers’ needs and reflect their style. With their commitment to innovation and sustainability, Steelcase Inc. is sure to remain a leader in the office furniture industry for years to come.
Market Price
On Wednesday, STEELCASE INC opened at $12.2 and closed at $12.1, up by 0.1% from last closing price of 12.1. The office furniture company is continuing to sustain gains as demand increases, with stock prices staying steady despite some fluctuations due to external factors. The furniture market has seen increased demand in recent months as people begin to slowly return to their workplaces, and STEELCASE INC has been at the forefront of the industry, putting out new designs and products that make workspaces across the country look and feel better than ever. The company’s success has been driven by its focus on creating innovative and functional furniture, as well as its commitment to providing customers with the highest quality of service.
It is also positioning itself for long-term growth, both through product development and strategic investments, making sure that it can continue to meet customer needs in the future. Overall, STEELCASE INC has been able to sustain gains as office furniture demand continues to increase. This demonstrates its ability to remain competitive in the industry and is likely to help the company continue its success in the years ahead. Live Quote…
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% |
Analysis
At GoodWhale, we recently conducted a financial analysis of STEELCASE INC. After taking a look at the company’s cashflows and debt, we assigned the company a health score of 8/10 which indicates a strong overall financial performance. Although STEELCASE INC is strong in dividend, it is medium in asset, profitability and weak in growth. Based on our analysis, we classified STEELCASE INC as a ‘rhino’ type of company, meaning that it has achieved moderate revenue or earnings growth. This type of company may be of interest to investors seeking low-risk investments with steady returns. Moreover, since STEELCASE INC can pay off its debt and fund future operations, investors could benefit from a steady dividend yield and long-term capital appreciation. More…
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
Steelcase Inc. is a leading office furniture maker that has seen positive gains in recent years. Investment analysts have been bullish on the company, citing its innovative product portfolio and strong brand recognition. Steelcase has continued to introduce new offerings and increase its presence in global markets, which has been a major source of growth.
Its cost-efficient manufacturing and sales strategies have also helped it remain competitive in a crowded industry. Investors continue to view Steelcase as an attractive long-term investment option given its strong business fundamentals.
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