BASSETT FURNITURE INDUSTRIES INC BSET
Bassett is a leading retailer, manufacturer and marketer of branded home furnishings. We were founded in 1902 and incorporated under the laws of Virginia in 1930. Our rich 123-year history has instilled the principles of quality, value, and integrity in everything we do, while simultaneously providing us with the expertise to respond to ever-changing consumer tastes and meet the demands of a global economy.
Approximately 60% of our wholesale sales arise from our network of 86 Company-owned and licensee-owned Bassett Home Furnishings ("BHF") stores. Our store program is designed to provide a single source home furnishings retail store with a unique combination of stylish, quality furniture and accessories with a high level of customer service. The stores highlight our custom furniture design and manufacturing capabilities, free in-home or virtual design visits ("home makeovers") and coordinated decorating accessories. Our philosophy is based on building strong long-term relationships with each customer. Salespeople are referred to as "Design Consultants" and are trained to evaluate customer needs and provide comprehensive solutions for their home decor. Until a rigorous training and design certification program is completed, Design Consultants are not authorized to perform in-home or virtual design services for our customers.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $335.3M | $329.9M | $390.1M | $485.6M | $430.9M | $337.7M | $452.1M | $456.9M | $452.5M | $432.0M |
| Cost of revenue | $146.6M | $150.5M | $183.6M | $237.3M | $209.8M | $163.6M | $179.2M | $179.6M | $177.6M | $167.5M |
| Gross profit | $188.7M | $179.4M | $206.5M | $248.3M | $221.1M | $174.1M | $272.8M | $277.3M | $274.9M | $264.5M |
| SG&A | $180.4M | $187.5M | $205.2M | $218.1M | $196.8M | $176.4M | — | — | — | — |
| Operating income | $7.8M | -$16.3M | -$3.1M | $34.9M | $24.3M | -$17.5M | -$595.0K | $14.1M | $27.0M | $28.2M |
| Interest expense | $52.0K | $30.0K | $22.0K | $38.0K | $33.0K | $0 | $6.0K | $57.0K | $234.0K | $552.0K |
| Pre-tax income | $8.8M | -$14.4M | -$2.5M | $34.1M | $22.8M | -$18.0M | -$1.7M | $12.2M | $27.9M | $25.8M |
| Income tax | $2.7M | $4.7M | $683.0K | $8.7M | $5.8M | $6.5M | $188.0K | $4.0M | $9.6M | $9.9M |
| Net income | $6.1M | -$9.7M | -$3.2M | $65.3M | $18.0M | -$10.4M | -$1.9M | $8.2M | $18.3M | $15.8M |
| EPS, basic | 0.70 | -1.11 | -0.36 | 6.96 | 1.83 | -1.04 | -0.19 | 0.77 | 1.71 | 1.47 |
| EPS, diluted | 0.70 | -1.11 | -0.36 | 6.95 | 1.83 | -1.04 | -0.19 | 0.77 | 1.70 | 1.46 |
| Shares, diluted (wtd. avg.) | — | — | — | $9.4M | $9.8M | $10.0M | $10.3M | $10.7M | $10.7M | $10.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $41.3M | $39.6M | $52.4M | $61.6M | $34.4M | $45.8M | $19.7M | $33.5M | $53.9M | $35.1M |
| Short-term investments | $18.0M | $20.4M | $17.8M | $17.7M | $17.7M | $17.7M | $17.4M | $22.6M | $23.1M | $23.1M |
| Receivables | $14.4M | $13.2M | $13.7M | $17.8M | $20.6M | $22.3M | $21.4M | $19.1M | $19.6M | $18.4M |
| Inventory | $61.8M | $55.0M | $63.0M | $85.5M | $78.0M | $54.9M | $66.3M | $64.2M | $54.5M | $53.2M |
| Total current assets | $145.5M | $141.5M | $158.0M | $196.5M | $180.3M | $160.7M | $136.8M | $148.5M | $159.4M | $140.6M |
| Property, plant and equipment | $73.2M | $77.0M | $84.0M | $77.0M | $69.2M | $90.9M | $101.7M | $104.9M | $103.2M | $104.7M |
| Goodwill | $7.2M | $7.2M | $7.2M | $12.8M | $7.2M | $7.2M | $14.1M | $16.0M | $11.9M | $11.6M |
| Other intangibles | $6.9M | $7.0M | $175.0K | $232.0K | $232.0K | $2.3M | $2.7M | $3.1M | $3.0M | $3.3M |
| Total assets | $323.8M | $341.2M | $370.4M | $406.3M | $421.7M | $402.5M | $275.8M | $291.6M | $293.7M | $278.3M |
| Accounts payable | $14.7M | $13.3M | $16.3M | $20.4M | $24.0M | $23.4M | $23.7M | $27.4M | $21.8M | $21.3M |
| Short-term debt | — | — | — | — | — | — | — | $292.0K | $3.4M | $3.3M |
| Total current liabilities | $77.0M | $73.4M | $77.9M | $100.8M | $134.2M | $118.4M | $72.3M | $81.8M | $83.4M | $77.0M |
| Long-term debt | — | — | — | — | — | — | — | $292.0K | $329.0K | $3.8M |
| Retained earnings | $121.1M | $122.8M | $139.4M | $150.8M | $115.6M | $109.7M | $129.1M | $140.0M | $139.4M | $129.4M |
| Total equity | $165.1M | $167.3M | $183.4M | $195.6M | $162.7M | $158.0M | $178.7M | $190.3M | $191.5M | $180.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $13.5M | $4.0M | $18.7M | -$3.0M | $14.6M | $36.7M | $9.8M | $29.9M | $37.1M | $39.1M |
| Depreciation and amortisation | $8.8M | $9.9M | $10.1M | $11.3M | $14.6M | $13.5M | $13.5M | $13.2M | $13.3M | $12.2M |
| Capital expenditure | $4.5M | $5.2M | $17.5M | $21.3M | $10.8M | $6.0M | $17.4M | $18.3M | $15.5M | $21.5M |
| Investing cash flow | -$2.7M | -$8.8M | -$17.8M | $65.8M | -$11.6M | -$3.7M | -$11.2M | -$32.0M | -$7.0M | -$20.8M |
| Financing cash flow | -$9.0M | -$8.1M | -$10.2M | -$35.6M | -$14.4M | -$6.8M | -$12.4M | -$18.4M | -$11.3M | -$19.4M |
| Dividends paid | $6.9M | $6.7M | $6.0M | $20.2M | $7.7M | $4.5M | $5.1M | $8.8M | $7.7M | $6.3M |
| Buybacks | $2.1M | $1.4M | $4.2M | $15.1M | $5.6M | $2.2M | $7.3M | $5.9M | $83.0K | $6.4M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-003189.
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