Steelcase Inc.

Steelcase Inc.

SCSยทNYSE

$16.14

+0.0000%
IndustrialsBusiness Equipment & Supplies

Steelcase Inc. provides a portfolio of furniture and architectural products in the United States and internationally. It operates through Americas, EMEA, and Other segments. The company's furniture portfolio includes furniture systems, seating, storage, fixed and height-adjustable desks, benches, and tables, as well as complementary products, such as work accessories, lighting, and mobile power and screens. Its seating products comprise task chairs; seating for collaborative environments and casual settings; and specialty seating for specific vertical markets, including education and healthcare. The company's interior architectural products comprise full and partial height walls and architectural pods. It also provides textiles, wall coverings, and surface imaging solutions for architects and designers; and workplace strategy consulting, lease origination, and furniture and asset management services. The company markets and sells its products to corporate, government, healthcare, education, and retail customers under the Steelcase, Designtex, Coalesse, AMQ, Smith System, Orangebox, and Viccarbe brands. It distributes its products and services through a network of independent and company-owned dealers, as well as directly to end-use customers. The company was founded in 1912 and is headquartered in Grand Rapids, Michigan.

At a Glance

Live Snapshot
Market Cap$1.85B
EPS1.0200
P/E Ratio11.49
Earnings Date03/24/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal ยท Driver ยท Risk

Signal

High confidence

Valuation multiple is compressed (P/E 11.5).

Valuation inputs: P/E 11.5, earnings yield +8.7%, momentum 0.0%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is acceptable (ROE +12.7%, ROIC +8.4%).

Profitability stack: net margin +3.8%, ROE +12.7%, ROIC +8.4%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Risk profile is balanced but has notable pressure points to monitor.

Risk factors: liabilities/assets +59.2%, momentum 0.0%, net margin +3.8%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

scs

Steelcase Inc. Market vs Earnings Trajectory

SCS ยท NYSE

Loading price and EPS data...

Steelcase Inc.

Steelcase Inc. Fair Value Envelope

SCS ยท NYSE

Our analysis suggests that SCS has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $16.14, this represents a potential HIDDEN relative to our calculated worth for Steelcase Inc..

Intrinsic Value
Current Price: $16.14
3Y+2874.0%
5Y-39.0%
10Y-26.0%
3Y+14.0%
5Y-15.0%
10Y+3.0%
3Y+2918.0%
5Y-40.0%
10Y-29.0%
3Y-245.0%
5Y-59.0%
10Y-20.0%
3Y-162.0%
5Y-65.0%
10Y+9.0%
3Y+3.0%
5Y-9.0%
10Y+29.0%
Steelcase Inc.

Steelcase Inc. Profit Bridge

SCS ยท NYSE
Revenue3.17B
Cost of Goods Sold (2.12B)
Gross Profit1.05B
Operating Expenses (888.00M)
Operating Income158.10M
Interest Expense (25.70M)
Other Income/Expense-23.90M
Pretax Income134.20M
Income Tax (13.50M)
Net Income120.70M
Net Income
120.70M

Profitability Analysis

Gross Margin

33.1%

Moderate margins typical of competitive industries. Monitor for pricing pressure or rising costs.

Operating Margin

5.0%

Minimal operating profit suggests high operating costs or pricing challenges. Scalability is concerning.

Net Profit Margin

3.8%

Minimal profitability after all expenses. Limited financial flexibility for reinvestment or shareholder returns.

Effective Tax Rate

10.1%

Below-average tax rate suggests effective tax planning, favorable jurisdictions, or tax credits.

Profitability Insight

Margin squeeze alert: Healthy gross margins but weak operating margins suggest excessive operating expenses. Cost optimization could unlock significant value.

33.05%
Gross Profit Margin
3%
3Y+20.0%
5Y+1.0%
10Y+4.0%
4.99%
Operating Profit Margin
34%
3Y+589.0%
5Y-28.0%
10Y-12.0%
3.81%
Net Profit Margin
49%
3Y+2542.0%
5Y-29.0%
10Y-31.0%
12.68%
Return on Equity
39%
3Y+2602.0%
5Y-38.0%
10Y-45.0%
5.18%
Return on Assets
43%
3Y+2828.0%
5Y-33.0%
10Y-45.0%
8.36%
Return on Invested Capital
57%
3Y+190.0%
5Y-23.0%
10Y-39.0%
SCS

Steelcase Inc. Cash Conversion Engine

SCS ยท NYSE
Net Income120.70M
Depreciation & Amortization80.80M
Stock-Based Compensation24.50M
Change in Working Capital-1.80M
Others-19.00M
Capital Expenditures-47.10M
Free Cash Flow101.40M

Cash Flow Quality Analysis

FCF Conversion Rate

84.0%

Strong cash conversion. Most reported earnings translate into actual cash flow, suggesting solid fundamentals.

CapEx Intensity

31.7%

Moderate capital requirements typical of many stable businesses. Healthy balance between reinvestment and cash generation.

FCF Growth Trend

-61.2%

Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.

Working Capital Impact

-$1.80M

Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.

Cash Flow Quality Insight

Solid cash generation: Positive free cash flow with reasonable earnings quality provides financial flexibility for growth investments, debt reduction, or shareholder returns.

scs

Steelcase Inc. Funding & Solvency Profile

SCS ยท NYSE
Cash & Cash Equivalents216.80M
Net Receivables369.80M
Inventory288.00M
Other Current Assets91.40M
Total Current Assets1 B
Property, Plant & Equipment503.80M
Goodwill & Intangible Assets346.50M
Long-Term Investments56.00M
Other Non-Current Assets283.70M
Total Non-Current Assets844 M
Total Assets
2.35B

Financial Health Analysis

Current Ratio

1.66x

Strong liquidity. The company has adequate resources to meet short-term liabilities.

Debt-to-Equity Ratio

1.31x

Elevated leverage. Debt exceeds equity, which amplifies both gains and risks. Monitor debt servicing ability.

Working Capital

400 M

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

43% Current

Balanced asset mix between current and non-current assets, typical of many stable businesses.

scs

Steelcase Inc. Street Expectations Map

SCS ยท NYSE

No Target Data

No analyst price targets available for scs.

scs

Steelcase Inc. Insider Positioning

SCS ยท NYSE

During the last 12 months, insiders have sold $128K worth of SCS shares, with no buying activity reported.

3 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

3-6 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

6-9 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

9-12 Months

Bought

0

0.00

Sold

12.0K

127.55K

Net Activity

-128K

-$128K

Top Buyers

No buying activity

Top Sellers

1
KRG

Krestakos Robert G

Officer: Vp, Chief Operations Officer

12.0K sharesโ€ข1 transactions

$128K

Insider Activity Analysis

Net Insider Sentiment

Bearish

Strong bearish signal with $128K net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.

Buy/Sell Ratio

0.00:1

Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.

Insider Participation

High Selling

1 insider sellers vs. 0 buyers. Widespread selling across multiple insiders may signal concerns.

0.60%
Dividend Yield
-40%
3Y-53.0%
5Y-35.0%
10Y+8.0%
ย 

scs Dividend History

SCS
10Y CAGR 1%
Latest $0.1
Annual $0.4
Stable dividend payments
Last Period: +0%