HVT Stock Fair Value Calculation – HAVERTY FURNITURE COMPANIES Reports 18.5% Revenue Decline in Q2 FY2023 Results
August 5, 2023
🌥️Earnings Overview
The Haverty Furniture Companies ($NYSE:HVT) reported their FY2023 Q2 results for the quarter ending on June 30, 2023, with total revenue decreasing by 18.5% to USD 206.3 million compared to the same quarter in the prior year. Net income totaled USD 11.8 million, which was a decrease of 45.7% from the same period the year before.
Analysis – HVT Stock Fair Value Calculation
GoodWhale has conducted an in-depth analysis of the wellbeing of HAVERTY FURNITURE COMPANIES. Through our proprietary Valuation Line, we have determined that the intrinsic value of HAVERTY FURNITURE COMPANIES shares is around $33.5. We believe that this stock is a promising long-term investment for investors who are seeking a reliable and well-established furniture company. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for HVT. More…
| Total Revenues | Net Income | Net Margin |
| 986.1 | 72.45 | 7.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for HVT. More…
| Operations | Investing | Financing |
| 64.84 | -55.29 | -43.62 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for HVT. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 656.19 | 350.61 | 18.22 |
Key Ratios Snapshot
Some of the financial key ratios for HVT are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 11.4% | 184.3% | 9.4% |
| FCF Margin | ROE | ROA |
| 1.0% | 19.6% | 8.9% |
Peers
The furniture market is highly competitive, with many companies vying for market share. Among these is Haverty Furniture Companies Inc, which competes with the likes of Maisons du Monde France SA, Temple & Webster Group Ltd, Arhaus Inc, and others. In order to succeed, Haverty Furniture must offer a unique and appealing product that resonates with consumers.
– Maisons du Monde France SA ($OTCPK:MDOUF)
With a market cap of 423.92M as of 2022, Maisons du Monde France SA is a large company with a ROE of 9.35%. The company specializes in selling furniture and home decor items.
– Temple & Webster Group Ltd ($ASX:TPW)
Temple & Webster Group Ltd is an online home furnishings and decor retailer based in Australia. As of 2022, the company had a market capitalization of 677 million Australian dollars and a return on equity of 8.34%. The company sells a range of home furnishings and decor products through its website, including furniture, homewares, and lighting. It also offers a home styling service, which provides customers with advice on how to style their homes.
– Arhaus Inc ($NASDAQ:ARHS)
Arhaus Inc. is a publicly traded company with a market capitalization of $1.17 billion as of 2022. The company’s return on equity, a measure of profitability, was 50.99% as of the same year. Arhaus is a retailer of home furnishing products, specializing in sofas, chairs, and other upholstered items. The company operates a chain of retail stores in the United States and also offers its products online.
Summary
Haverty Furniture Companies recently reported their second quarter results for fiscal year 2023, with total revenue declining 18.5% year-over-year to USD 206.3 million and net income decreasing 45.7% to USD 11.8 million. This prompted a sell-off in the stock price on the same day. For investors, this could be a sign of further weakness in the company’s performance, but with the potential for a long-term recovery plan to be enacted by management, it may not be time to panic. A thorough analysis of the company’s financials and market position should be done before making any investment decisions.
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