A Business at a Glance
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TANDY LEATHER FACTORY INC
TLF
$20M
Mkt Cap
$2.39
+0.84%
TANDY LEATHER FACTORY INC (TLF) has a current P/E ratio of 2.2, compared to its historical median P/E of 11.0. The stock is currently considered Cheap based on its historical valuation range.
TANDY LEATHER FACTORY INC (TLF) has a 5-year average return on invested capital (ROIC) of 6.4%. This is below average and may indicate limited pricing power.
TANDY LEATHER FACTORY INC (TLF) has a market capitalization of $20M. It is classified as a small-cap stock.
Yes, TANDY LEATHER FACTORY INC (TLF) pays a dividend with a trailing twelve-month yield of 64.45%. The company also returns capital through share buybacks, with a buyback yield of 6.89%.
Based on historical P/E analysis, TANDY LEATHER FACTORY INC (TLF) appears cheap. The current P/E of 2.2 is 80% below its historical median of 11.0. The estimated fair value CAGR (P/E method) is 12.3%.
TANDY LEATHER FACTORY INC (TLF) operates in the Leather & Leather Products industry, within the Consumer Cyclical sector.
The following discussion, as well as other portions of this Form 10-K, contains forward-looking statements that reflect our plans, estimates and beliefs. Any such forward-looking statements (including, but not limited to, statements to the effect that Tandy Leather Factory, Inc. (“TLF”) or its management “anticipates,” “plans,” “estimates,” “expects,” “believes,” “intends,” and other similar expressions) that are not statements of historical fact should be considered forward-looking statements and should be read in conjunction with our Consolidated Financial Statements and related notes contained elsewhere in this report. These forward-looking statements are made based upon management’s current plans, expectations, estimates, assumptions and beliefs concerning future events impacting us and should be read carefully because they involve risks and uncertainties.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 76M | 76M | 74M | 76M | 80M | 83M |
| Net Income | 9.1M | 9.1M | 827K | 3.8M | 1.2M | 1.4M |
| EPS | $1.10 | $1.10 | $0.09 | $0.45 | $0.15 | $0.16 |
| Free Cash Flow | -8.1M | -8.1M | 1.6M | 4.0M | 519K | 2.7M |
| ROIC | -2.0% | 16.6% | 1.1% | 8.3% | 2.8% | 3.4% |
| Gross Margin | 57.0% | 57.0% | 56.2% | 59.2% | 57.9% | 56.9% |
| Debt/Equity | 0.00 | 0.65 | 0.00 | 0.00 | 0.00 | 0.01 |
| Dividends/Share | $1.54 | $1.54 | $0.00 | - | - | - |
| Operating Income | -963K | -963K | 628K | 4.4M | 1.4M | 2.3M |
| Operating Margin | -1.3% | -1.3% | 0.8% | 5.8% | 1.7% | 2.8% |
| ROE | 17.3% | 16.6% | 1.5% | 7.0% | 2.4% | 2.6% |
| Shares Outstanding | 8M | 8M | 9M | 8M | 8M | 8M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 83M | 84M | 83M | 82M | 83M | 75M | 64M | 83M | 80M | 76M | 74M | 76M | 76M |
| Gross Margin | 62.5% | 61.9% | 62.4% | 59.6% | 61.2% | 56.0% | 56.3% | 56.9% | 57.9% | 59.2% | 56.2% | 57.0% | 57.0% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 40M | 42M | 41M | 200K | 200K | 39M | 30M | 45M | 45M | 41M | 41M | 43M | 43M |
| EBIT | 12M | 10M | 10M | 6.4M | 6.0M | -2.6M | -6.3M | 2.3M | 1.4M | 4.4M | 628K | -963K | -963K |
| Op. Margin | 14.3% | 12.4% | 12.4% | 7.7% | 7.2% | -3.5% | -9.9% | 2.8% | 1.7% | 5.8% | 0.8% | -1.3% | -1.3% |
| Net Income | 7.7M | 6.4M | 6.4M | 2.5M | 4.4M | -1.9M | -4.9M | 1.4M | 1.2M | 3.8M | 827K | 9.1M | 9.1M |
| Net Margin | 9.2% | 7.6% | 7.7% | 3.0% | 5.3% | -2.5% | -7.6% | 1.6% | 1.5% | 4.9% | 1.1% | 11.9% | 11.9% |
| Non-Recurring | -19K | -31K | -17K | -3K | 607K | 993K | 1.0M | 8K | -9K | 0 | 20K | 16M | 16M |
| Returns on Capital | |||||||||||||
| ROIC | 19.4% | 14.9% | 14.9% | 8.7% | 8.1% | -3.1% | -9.0% | 3.4% | 2.8% | 8.3% | 1.1% | 16.6% | -2.0% |
| ROE | 16.4% | 12.8% | 12.4% | 4.6% | 7.7% | -3.3% | -9.0% | 2.6% | 2.4% | 7.0% | 1.5% | 16.6% | 17.3% |
| ROA | 12.9% | 10.0% | 9.5% | 3.5% | 5.9% | -2.4% | -6.3% | 1.8% | 1.7% | 5.4% | 1.1% | 11.3% | 10.5% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 1.2M | 8.2M | 7.7M | 2.5M | 7.8M | 10M | -13M | 3.7M | 1.2M | 4.5M | 4.5M | -556K | -556K |
| Free Cash Flow | -1.0M | 6.0M | 6.0M | 774K | 6.7M | 10M | -14M | 2.7M | 519K | 4.0M | 1.6M | -8.1M | -8.1M |
| Owner Earnings | -327K | 6.5M | 5.8M | 351K | 5.6M | 8.0M | -14M | 1.8M | -1.1M | 2.6M | 2.8M | -1.9M | -1.9M |
| CapEx | 2.2M | 2.2M | 1.7M | 1.7M | 1.1M | 269K | 1.3M | 1.0M | 635K | 576K | 3.0M | 7.5M | 7.5M |
| Maint. CapEx | 1.4M | 1.6M | 1.7M | 1.9M | 1.8M | 1.7M | 1.0M | 1.1M | 1.2M | 1.2M | 1.2M | 900K | 900K |
| Growth CapEx | 768K | 597K | 0 | 0 | 0 | 0 | 313K | 0 | 0 | 0 | 1.8M | 6.6M | 6.6M |
| D&A | 1.4M | 1.6M | 1.7M | 1.9M | 1.8M | 1.7M | 1.0M | 1.1M | 1.2M | 1.2M | 1.2M | 900K | 900K |
| CapEx/OCF | 187.2% | 26.4% | 22.5% | 68.6% | 14.0% | 2.6% | N/A | 26.9% | 55.0% | 12.7% | 65.6% | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 2.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 13M | 13M |
| Dividend Yield | 4.9% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 65.9% | 64.4% |
| Share Buybacks | 0 | 3.7M | 3.7M | 0 | 1.7M | 735K | 0 | 2.7M | 1.8M | 11K | 0 | 1.4M | 1.4M |
| Buyback Yield | N/A | 9.4% | 9.0% | N/A | 5.8% | 2.8% | N/A | 11.7% | 9.1% | 0.1% | N/A | 8.1% | 6.9% |
| Stock-Based Comp | 68K | 145K | 200K | 240K | 328K | 770K | 887K | 797K | 1.1M | 770K | 548K | 484K | 484K |
| Debt Repayment | 456K | 2.1M | 0 | 0 | 0 | 9.0M | 0 | 0 | 359K | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -5.0M | -7.3M | -9.5M | -11M | -15M | -34M | -9.9M | -9.7M | -8.0M | -12M | -13M | N/A | -16M |
| Cash & Equiv. | 11M | 11M | 17M | 18M | 24M | 16M | 10M | 10M | 8.0M | 12M | 13M | 16M | 16M |
| Long-Term Debt | 1.9M | 3.5M | 6.8M | 6.8M | 8.4M | 0 | 446K | 336K | 0 | 1K | 0 | N/A | N/A |
| Debt/Equity | 0.11 | 0.07 | 0.14 | 0.13 | 0.15 | 0.00 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.65 | 0.00 |
| Interest Coverage | 53.0 | 31.7 | 66.4 | 31.0 | 19.6 | -72.1 | -906.9 | 143.8 | 154.2 | 47.4 | 1.9 | -1.7 | -1.7 |
| Equity | 49M | 51M | 53M | 56M | 58M | 56M | 52M | 52M | 51M | 56M | 57M | 53M | 53M |
| Total Assets | 63M | 65M | 71M | 73M | 77M | 80M | 76M | 73M | 69M | 72M | 75M | 87M | 87M |
| Total Liabilities | 14M | 14M | 18M | 17M | 18M | 24M | 23M | 22M | 17M | 16M | 18M | 34M | 34M |
| Intangibles | 58K | 27K | 21K | 19K | 17K | 7K | 6K | 6K | 5K | N/A | N/A | N/A | N/A |
| Retained Earnings | 47M | 53M | 59M | 60M | 64M | 62M | 57M | 59M | 60M | 64M | 64M | 61M | 61M |
| Working Capital | 36M | 39M | 45M | 46M | 52M | 40M | 38M | 38M | 38M | 42M | 41M | 41M | 41M |
| Current Assets | 46M | 47M | 53M | 55M | 60M | 53M | 51M | 50M | 47M | 51M | 51M | 51M | 51M |
| Current Liabilities | 10M | 8.3M | 8.2M | 8.4M | 8.1M | 12M | 13M | 12M | 8.9M | 8.9M | 9.9M | 9.8M | 9.8M |
| Per Share Data | |||||||||||||
| EPS | 0.75 | 0.63 | 0.69 | 0.27 | 0.48 | -0.21 | -0.54 | 0.16 | 0.15 | 0.45 | 0.09 | 1.10 | 1.10 |
| Owner EPS | -0.03 | 0.64 | 0.63 | 0.04 | 0.62 | 0.88 | -1.59 | 0.21 | -0.14 | 0.31 | 0.30 | -0.23 | -0.23 |
| Book Value | 4.78 | 5.02 | 5.66 | 6.09 | 6.36 | 6.23 | 5.75 | 6.09 | 6.29 | 6.73 | 6.22 | 6.36 | 6.36 |
| Cash Flow/Share | 0.11 | 0.81 | 0.83 | 0.27 | 0.85 | 1.16 | -1.38 | 0.44 | 0.14 | 0.54 | 0.49 | -0.07 | 1.21 |
| Dividends/Share | 0.25 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 | 1.54 | 1.54 |
| Shares Out. | 10.3M | 10.2M | 9.3M | 9.2M | 9.2M | 9.1M | 9.1M | 8.5M | 8.2M | 8.4M | 9.2M | 8.3M | 8.3M |
| Valuation | |||||||||||||
| P/E Ratio | 6.4 | 6.2 | 6.4 | 15.5 | 6.5 | N/A | N/A | 17.2 | 16.2 | 5.3 | 29.4 | 1.8 | 2.2 |
| P/FCF | N/A | 6.6 | 6.8 | 49.6 | 4.3 | 2.6 | N/A | 8.6 | 38.2 | 5.1 | 15.5 | N/A | N/A |
| EV/EBIT | 3.1 | 2.1 | 1.4 | 4.4 | 2.4 | N/A | N/A | 1.5 | 2.8 | N/A | N/A | N/A | N/A |
| Price/Book | 1.0 | 0.8 | 0.8 | 0.7 | 0.5 | 0.5 | 0.3 | 0.5 | 0.4 | 0.4 | 0.4 | 0.3 | 0.4 |
| Price/Sales | 0.6 | 0.5 | 0.4 | 0.5 | 0.4 | 0.4 | 0.3 | 0.2 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 |
| FCF Yield | -2.1% | 15.2% | 14.8% | 2.0% | 23.2% | 38.2% | -85.1% | 11.6% | 2.6% | 19.7% | 6.4% | -48.1% | -40.9% |
| Market Cap | 50M | 40M | 41M | 38M | 29M | 27M | 16M | 23M | 20M | 20M | 24M | 17M | 20M |
| Avg. Price | 5.04 | 4.44 | 3.98 | 4.44 | 4.01 | 2.96 | 2.02 | 2.41 | 2.56 | 2.36 | 2.42 | 2.34 | 2.39 |
| Year-End Price | 4.82 | 3.90 | 4.40 | 4.18 | 3.14 | 2.95 | 1.79 | 2.75 | 2.43 | 2.40 | 2.65 | 2.03 | 2.39 |
TANDY LEATHER FACTORY INC passes 4 of 9 quality checks, suggesting mixed fundamentals.
TANDY LEATHER FACTORY INC trades at 2.2x trailing earnings, compared to its 15-year median P/E of 11.0x, suggesting it is currently Cheap relative to its historical range. The company's 5-year average ROIC is 6.4% with a gross margin of 57.4%. Total shareholder yield (dividends + buybacks) is 71.3%. At current prices, the estimated annualized return to fair value is -18.0%.
TANDY LEATHER FACTORY INC (TLF) reported annual revenue of $76 million in its most recent fiscal year, based on SEC EDGAR filings.
TANDY LEATHER FACTORY INC (TLF) has a net profit margin of 11.9%. This is a healthy margin.
TANDY LEATHER FACTORY INC (TLF) generated $-8 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
TANDY LEATHER FACTORY INC (TLF) has a debt-to-equity ratio of 0.65. This indicates moderate leverage.
TANDY LEATHER FACTORY INC (TLF) reported earnings per share (EPS) of $1.10 in its most recent fiscal year.
TANDY LEATHER FACTORY INC (TLF) has a return on equity (ROE) of 16.6%. This indicates the company generates strong returns for shareholders.
TANDY LEATHER FACTORY INC (TLF) has a 5-year average gross margin of 57.4%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 17 years of financial data for TANDY LEATHER FACTORY INC (TLF), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
TANDY LEATHER FACTORY INC (TLF) has a book value per share of $6.36, based on its most recent annual SEC filing.