Name
Roll No.
Vishwas
342
Shorya Chaplot
344
Shubham Gupta
346
Tushar Johri
354
These spreadsheet exhibits relate to the case Teuer Furniture (B): Multiples Valuation, Case #KEL790.
2014 by the Kellogg School of Management at Northwestern University. This case was prepared by
Professor Mitchell A. Petersen. Teuer Furniture is a fictional company whose profile was created based on
data from real industry leaders. Cases are developed solely as the basis for class discussion. Cases are
not intended to serve as endorsements, sources of primary data, or illustrations of effective or ineffective
management. To order copies or request permission to reproduce materials, call 800-545-7685 (or 617783-7600 outside the United States or Canada) or e-mail custserv@hbsp.harvard.edu. No part of this
publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any
form or by any meanselectronic, mechanical, photocopying, recording, or otherwisewithout the
permission of Kellogg Case Publishing.
se was prepared by
le was created based on
discussion. Cases are
f effective or ineffective
800-545-7685 (or 617.edu. No part of this
et, or transmitted in any
wisewithout the
12/31/2012
12/31/2011
269.7
253.2
128.4
125.6
Revenue
134.8
122.0
Depreciation
0.0
0.0
R&D
0.0
0.0
-5.2
-54.8
-0.2
0.6
12.0
59.7
-14.7
4.4
26.7
55.3
11.7
60.3
-14.4
4.4
26.1
55.9
12/31/2012
12/31/2011
Balance Sheet
Assets
Cash and equivalents
45.6
69.6
Accounts receivable
15.8
14.8
Inventory
57.9
45.1
13.3
10.7
132.5
140.2
56.6
49.9
0.0
0.0
38.0
33.0
94.7
83.0
227.2
223.2
Accounts payable
22.4
18.8
Accrued expenses
Total assets
Liabilities
17.4
17.7
Notes payable
0.0
0.0
0.0
0.0
12.8
15.3
52.6
51.8
3.1
3.7
Other liabilities
14.3
15.3
Common equity
157.3
152.4
227.2
223.2
Financial Data
-2.2
Stock price
14.2
10.9
154.7
Enterprise value
112.2
6.5%
7.6%
52.4%
50.4%
9.9%
21.9%
AR/sales
5.8%
5.8%
Inventory/CGS
45.1%
35.9%
AP/CGS
17.5%
15.0%
Net investment
28.3
Multiples
Asset price/Cash flow assets
NMF
4.3x
Asset price/Sales
0.4x
5.8x
12/31/2010
12/31/2009
12/31/2008
235.3
232.7
288.3
122.6
129.9
110.8
103.8
0.0
0.0
0.0
0.0
4.9
21.6
-0.8
2.0
-2.2
-24.5
-0.2
-1.8
-2.0
-22.7
-3.0
-22.5
-0.3
-1.7
-2.7
-20.9
12/31/2010
12/31/2009
11.1
23.2
31.6
34.6
41.8
33.4
7.0
13.3
91.5
104.5
46.3
50.6
15.1
14.9
44.5
46.1
105.8
111.7
197.3
216.2
24.9
14.7
17.4
17.2
0.0
0.0
9.5
4.4
10.1
7.0
61.8
43.3
4.3
32.0
24.9
30.7
106.3
110.3
197.3
216.2
1.1%
-19.3%
47.9%
44.2%
-0.8%
-9.8%
13.4%
14.9%
34.1%
25.7%
20.3%
11.3%
Firms
Bassett Furniture Industries Inc (BSET)
Ethan Allen Interiors Inc (ETH)
Furniture Brands International Inc (FBN)
Haverty Furniture Companies Inc (HVT)
La-Z-Boy Incorporated (LZB)
Restoration Hardware Holdings Inc (RN)
Stanley Furniture Company (STLY)
Tempur Sealy International Inc (TPX)
Williams-Sonoma Inc (WSM)
Teuer
Market Cap
154.671
573.12
59.6568
362.8975
801.3616
2735.5136
65.565
1879.953
4277.6421
328.185
6/30/2012
6/30/2011
6/30/2010
6/30/2009
6/30/2008
729.4
679.0
590.1
674.3
980.0
339.1
329.5
309.8
326.9
322.0
296.7
262.6
394.5
18.6
20.8
29.4
25.6
R&D
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
8.5
5.6
7.1
8.4
41.2
26.4
-18.8
-81.2
Revenue
Depreciation
-8.5
-2.9
25.5
-28.5
49.7
29.3
-44.3
-52.7
49.7
31.9
-11.7
-72.8
-10.2
-3.5
15.9
-25.5
59.9
35.4
-27.7
-47.2
6/30/2012
6/30/2011
6/30/2010
6/30/2009
88.7
91.4
84.9
53.0
Accounts receivable
14.9
15.0
17.1
13.1
155.7
141.7
134.0
156.5
Net Income
Adjusted income (all equity firm)
Balance Sheet
Assets
Inventory
Other current assets
23.4
20.4
23.6
29.2
282.8
268.5
259.7
251.7
295.7
294.9
305.7
333.6
45.1
45.1
45.1
45.1
21.2
19.8
21.2
16.1
362.0
359.8
372.1
394.8
Total assets
644.8
628.3
631.8
646.5
Accounts payable
27.3
27.0
24.0
22.2
Accrued expenses
58.0
65.0
65.3
58.5
Notes payable
0.0
0.0
0.0
0.0
0.3
0.0
3.9
0.0
65.5
62.6
52.6
31.7
151.1
154.6
145.7
112.5
154.3
165.0
199.4
203.1
Liabilities
17.8
27.0
28.2
25.0
Common equity
321.7
281.7
258.5
305.9
644.8
628.3
631.7
646.5
Financial Data
Cash flow to assets
27.7
Stock price
19.9
28.8
573.1
Enterprise value
638.9
7.4%
15.1%
-12.5%
-31.2%
53.5%
51.5%
47.5%
51.5%
6.8%
4.3%
-7.5%
-7.8%
AR/sales
2.0%
2.2%
2.9%
1.9%
45.9%
43.0%
43.3%
47.9%
AP/CGS
8.1%
8.2%
7.7%
6.8%
Net investment
32.1
Inventory/CGS
Multiples
Asset price/Cash flow assets
23.0x
10.7x
Asset price/Sales
Equity price/Net income
0.9x
11.5x
12/29/2012
12/31/2011
1072.3
1107.7
827.3
837.1
252.8
270.9
18.9
21.9
0.0
0.0
16.6
20.8
5.7
3.6
-49.0
-46.6
-1.8
-2.8
-47.3
-43.8
-43.4
-43.0
-1.6
-2.6
-41.8
-40.4
12/29/2012
12/31/2011
11.9
25.4
Accounts receivable
125.7
108.0
Inventory
244.3
228.2
11.3
9.5
393.2
371.0
103.4
115.8
76.1
77.5
45.7
50.2
225.2
243.5
Total assets
618.4
614.5
Accounts payable
113.6
85.6
Accrued expenses
58.7
53.6
Notes payable
0.0
0.0
0.0
0.0
0.0
0.0
172.3
139.2
105.0
77.0
Other liabilities
286.3
266.1
Common equity
54.8
132.3
618.4
614.5
Revenue
Depreciation
R&D
Other expenses (income)
Interest expenses (net)
Income before taxes
Taxes
Net Income
Adjusted income (all equity firm)
Balance Sheet
Assets
Cash and equivalents
Liabilities
Financial Data
Cash flow to assets
Stock price
-5.8
7.4
8.0
59.7
152.8
-3.2%
-4.5%
22.8%
24.4%
-4.4%
-3.9%
AR/sales
11.7%
9.7%
Inventory/CGS
29.5%
27.3%
AP/CGS
13.7%
10.2%
Net investment
(36.0)
Multiples
Asset Price/Cash flow assets
NMF
NMF
Asset Price/Sales
0.1x
NMF
12/31/2010
12/31/2009
12/31/2008
1159.9
1224.4
1744.5
879.2
986.2
285.2
322.8
23.9
20.7
0.0
0.0
16.5
65.8
3.2
5.3
-47.9
-176.5
-8.9
-67.8
-39.0
-108.7
-44.8
-171.1
-8.3
-65.7
-36.4
-105.4
12/31/2010
12/31/2009
52.0
83.9
114.5
184.5
249.7
226.1
11.2
9.3
427.4
503.7
124.9
134.4
86.5
87.6
37.6
32.4
249.0
254.4
676.4
758.1
79.9
83.8
61.2
75.9
0.0
0.0
0.0
17.0
0.0
0.0
141.1
176.8
77.0
78.0
198.8
240.6
259.6
262.8
676.4
758.1
-5.3%
-29.8%
24.2%
19.5%
-3.4%
-8.9%
9.9%
15.1%
28.4%
22.9%
9.1%
8.5%
12/31/2012
12/31/2011
670.4
621.4
318.0
300.2
309.6
297.8
19.4
18.2
0.0
0.0
-0.8
-0.2
0.6
0.7
Revenue
Depreciation
R&D
Other expenses (income)
Interest expenses (net)
Income before taxes
Taxes
Net Income
23.5
4.6
8.6
-10.9
14.9
15.5
24.1
5.3
8.8
-12.6
15.3
17.9
12/31/2012
12/31/2011
53.6
49.6
9.7
11.5
Inventory
96.9
93.7
19.7
22.9
179.9
177.7
193.1
179.3
Balance Sheet
Assets
Cash and equivalents
Accounts receivable
0.0
0.0
29.1
28.1
222.2
207.4
Total assets
402.1
385.1
Accounts payable
28.2
21.2
Accrued expenses
11.8
11.0
0.0
0.0
Liabilities
Notes payable
Current maturities of long-term debt
Other current liabilities
Total current liabilities
Long-term debt and capital leases
0.9
0.8
49.0
39.4
89.9
72.4
18.5
12.3
Other liabilities
34.3
37.8
Common equity
259.4
262.7
402.1
385.1
Financial Data
Cash flow to assets
16.2
Stock price
16.3
22.3
362.9
Enterprise value
328.7
7.9%
0.2%
52.6%
51.7%
2.2%
2.5%
AR/sales
1.4%
1.8%
30.5%
31.2%
AP/CGS
8.9%
7.1%
Net investment
(0.9)
Inventory/CGS
Multiples
Asset Price/Cash flow assets
20.3x
21.5x
Asset Price/Sales
Equity Price/Net income
0.5x
24.3x
12/31/2010
12/31/2009
12/31/2008
620.3
588.3
691.1
301.6
282.8
295.4
292.2
16.9
19.3
0.0
0.0
-3.0
-1.4
0.8
0.8
8.7
-5.4
0.2
-1.2
8.4
-4.2
9.5
-4.6
0.3
-1.0
9.2
-3.6
12/31/2010
12/31/2009
58.1
44.5
13.8
15.3
91.9
93.3
13.2
15.2
176.9
168.3
175.5
176.4
0.0
0.0
17.7
16.2
193.2
192.6
370.2
360.9
18.1
19.1
31.4
30.2
0.0
0.0
0.5
0.4
20.6
21.8
70.6
71.4
8.6
6.8
37.9
38.1
253.2
244.6
370.2
360.9
5.5%
-14.9%
51.4%
51.9%
1.4%
-0.7%
2.2%
2.6%
30.5%
33.0%
6.0%
6.8%
4/28/2012
4/30/2011
1231.7
1187.1
851.8
832.8
306.7
299.7
23.5
24.3
0.0
0.0
-18.6
2.1
1.4
2.3
Revenue
Depreciation
R&D
Other expenses (income)
Interest expenses (net)
Income before taxes
66.9
26.0
-22.0
8.6
88.9
17.4
68.2
28.3
-22.5
9.4
90.7
18.9
4/28/2012
4/30/2011
152.4
115.3
Accounts receivable
167.2
161.3
Inventory
143.8
138.4
36.6
17.2
500.0
432.2
114.4
120.6
Taxes
Net Income
Adjusted income (all equity firm)
Balance Sheet
Assets
3.0
3.1
68.3
37.5
185.7
161.2
Total assets
685.7
593.5
Accounts payable
56.6
49.5
Accrued expenses
44.9
37.4
0.0
0.0
Liabilities
Notes payable
Current maturities of long-term debt
Other current liabilities
Total current liabilities
Long-term debt and capital leases
1.8
5.1
46.4
40.0
149.8
132.1
7.9
29.9
Other liabilities
86.1
70.1
Common equity
441.9
361.3
685.7
593.4
Financial Data
Cash flow to assets
72.5
Stock price
15.3
52.2
801.4
Enterprise value
658.8
3.8%
0.7%
30.8%
29.8%
7.2%
1.5%
AR/sales
13.6%
13.6%
Inventory/CGS
16.9%
16.6%
AP/CGS
6.6%
5.9%
Net investment
18.2
Multiples
Asset price/Cash flow assets
9.1x
7.3x
Asset price/Sales
0.5x
9.0x
4/24/2010
4/25/2009
4/25/2008
1179.2
1226.7
1450.9
804.5
887.9
307.5
408.7
25.2
24.1
0.0
0.0
-5.8
-2.6
3.0
5.6
44.7
-97.0
12.7
24.3
32.1
-121.3
47.7
-91.4
13.5
22.9
34.2
-114.4
4/24/2010
4/25/2009
108.4
36.1
165.0
147.9
132.5
140.2
21.2
23.7
427.1
347.8
138.9
150.2
3.1
3.1
38.8
51.4
180.7
204.8
607.8
552.5
54.7
41.6
51.7
75.7
0.0
0.0
1.1
8.7
39.8
0.0
147.3
126.0
46.9
52.1
73.7
68.6
339.8
305.7
607.8
552.5
-3.9%
-15.5%
31.8%
27.6%
2.7%
-9.9%
14.0%
12.1%
16.5%
15.8%
6.8%
4.7%
2/2/2013
1/28/2012
1193.0
958.1
756.6
601.7
390.4
327.9
Depreciation
0.0
0.0
R&D
0.0
0.0
115.1
1.6
5.8
5.1
-74.8
21.7
-62.0
1.1
-12.8
20.6
-69.0
26.8
-57.2
1.4
-11.8
25.5
2/2/2013
1/28/2012
Revenue
Balance Sheet
Assets
Cash and equivalents
8.4
8.5
17.0
11.8
Inventory
353.3
245.9
114.0
56.7
Accounts receivable
492.8
322.9
111.4
83.6
172.7
175.1
12.7
5.3
296.9
263.9
Total assets
789.6
586.8
Accounts payable
81.6
47.4
Accrued expenses
Liabilities
63.7
58.3
Notes payable
0.0
0.0
2.9
4.1
71.1
52.2
219.4
162.0
84.1
122.3
Other liabilities
34.5
52.1
Common equity
451.6
250.5
789.6
586.8
Financial Data
-173.8
Stock price
70.3
38.9
2735.5
Enterprise value
2814.2
24.5%
24.0%
36.6%
37.2%
-1.1%
2.2%
1.4%
1.2%
Inventory/CGS
46.7%
40.9%
AP/CGS
10.8%
7.9%
Net investment
161.9
AR/sales
Multiples
Asset Price/Cash flow assets
NMF
NMF
Asset Price/Sales
2.4x
NMF
1/29/2011
1/30/2010
1/30/2010
772.8
625.7
288.3
499.0
423.1
274.8
238.9
0.0
0.0
0.0
0.0
2.1
-10.5
3.2
3.2
-6.4
-29.0
0.7
-0.4
-7.1
-28.6
-3.2
-25.8
0.4
-0.4
-3.6
-25.5
1/29/2011
1/30/2010
13.4
13.2
4.5
4.5
206.4
149.0
20.4
18.8
244.6
185.5
76.5
62.2
178.5
182.3
2.5
1.5
257.4
246.0
502.0
431.5
51.4
47.0
39.3
37.8
0.0
0.0
2.4
1.9
36.6
30.5
129.7
117.2
111.8
57.4
44.6
35.8
215.8
221.1
502.0
431.5
23.5%
117.0%
35.4%
32.4%
-0.9%
-4.6%
0.6%
0.7%
41.4%
35.2%
10.3%
11.1%
12/31/2012
12/31/2011
98.6
104.6
85.9
92.2
16.5
17.6
Depreciation
1.8
1.6
R&D
0.0
0.0
-39.0
-4.1
2.3
2.3
31.0
-5.0
0.7
0.0
30.4
-5.0
33.4
-2.7
0.7
0.0
32.7
-2.7
12/31/2012
12/31/2011
35.9
15.7
Accounts receivable
10.0
10.3
Inventory
35.1
31.1
6.1
5.5
87.2
62.5
19.9
17.6
0.0
0.0
3.7
0.5
23.6
18.1
110.7
80.6
Accounts payable
8.7
10.0
Accrued expenses
6.2
6.5
Notes payable
0.0
0.0
0.0
0.0
0.0
0.0
14.9
16.5
0.0
0.0
Revenue
Balance Sheet
Assets
8.6
7.1
Common equity
87.2
57.0
110.7
80.6
Financial Data
Cash flow to assets
Stock price
22.7
4.5
14.6
65.6
Enterprise value
29.6
-5.8%
-23.6%
12.9%
11.9%
30.8%
-4.8%
AR/sales
10.2%
9.8%
Inventory/CGS
40.8%
33.7%
AP/CGS
10.1%
10.8%
Net investment
10.0
Multiples
Asset price/Cash flow assets
1.3x
0.9x
Asset price/Sales
0.3x
2.2x
12/31/2010
12/31/2009
12/31/2008
137.0
160.5
226.5
153.1
158.7
11.2
20.7
9.4
6.0
0.0
0.0
7.5
-9.5
3.5
3.7
-47.8
-19.1
-4.0
-7.4
-43.8
-11.7
-44.2
-15.4
-3.7
-5.9
-40.5
-9.5
12/31/2010
12/31/2009
25.5
41.8
13.8
22.2
25.7
37.2
6.9
8.3
72.0
109.6
16.0
31.4
0.0
9.1
0.4
0.5
16.4
40.9
88.4
150.5
9.1
11.6
7.7
9.2
0.0
0.0
2.4
1.4
0.0
0.0
19.2
22.3
0.0
26.4
7.4
8.9
61.8
92.9
88.4
150.4
-14.6%
-29.2%
-11.8%
1.1%
-32.0%
-7.3%
10.1%
13.8%
16.8%
23.5%
6.0%
7.3%
12/31/2012
12/31/2011
1402.9
1417.9
688.3
674.8
408.7
341.7
Depreciation
42.0
51.0
R&D
15.6
9.9
0.3
0.2
18.8
11.9
229.2
328.4
122.4
108.8
106.8
219.6
248.0
340.3
132.4
112.7
115.6
227.6
12/31/2012
12/31/2011
554.3
111.4
Accounts receivable
129.8
142.4
Inventory
93.0
91.2
56.5
34.8
833.6
379.8
186.0
160.5
279.2
279.8
26.7
18.1
491.9
458.4
1325.5
838.1
Accounts payable
85.8
69.9
Accrued expenses
84.3
52.6
0.0
0.0
Revenue
Balance Sheet
Assets
Notes payable
Current maturities of long-term debt
0.0
0.0
16.1
45.1
186.2
167.6
1025.0
585.0
Other liabilities
53.6
54.8
Common equity
60.7
30.8
1325.5
838.2
Financial Data
Cash flow to assets
88.5
Stock price
31.5
59.7
1880.0
Enterprise value
2350.7
-1.1%
28.3%
50.9%
52.4%
7.6%
15.5%
AR/sales
9.3%
10.0%
Inventory/CGS
13.5%
13.5%
AP/CGS
12.5%
10.4%
Net investment
27.1
Multiples
Asset price/Cash flow assets
26.6x
20.3x
Asset price/Sales
Equity price/Net income
1.7x
17.6x
12/31/2010
12/31/2009
12/31/2008
1105.4
831.2
927.8
550.0
437.5
258.1
208.6
44.0
40.2
7.4
0.0
0.5
-0.4
14.5
17.3
230.9
128.0
73.7
43.0
157.2
85.0
245.4
145.4
78.4
48.9
167.0
96.5
12/31/2010
12/31/2009
53.6
14.0
115.6
105.6
69.9
57.7
32.4
31.7
271.5
209.0
159.8
172.5
281.2
258.1
3.5
3.8
444.5
434.4
716.0
643.4
48.3
47.8
60.3
81.5
0.0
0.0
0.0
0.0
37.7
7.3
146.2
136.5
407.0
297.5
36.7
37.1
126.0
172.3
716.0
643.4
33.0%
-10.4%
50.2%
47.4%
14.2%
10.2%
10.5%
12.7%
12.7%
13.2%
8.8%
10.9%
2/3/2013
1/29/2012
4042.9
3720.9
2450.4
2261.0
1035.9
940.1
134.5
130.6
0.0
0.0
13.0
7.5
-0.8
-0.1
410.0
381.8
153.2
144.9
256.7
236.9
409.2
381.7
152.9
144.9
256.2
236.9
2/3/2013
1/29/2012
424.6
502.8
63.0
46.0
Inventory
640.0
553.5
189.2
174.2
1316.8
1276.4
812.0
734.7
Revenue
Depreciation
R&D
Balance Sheet
Assets
Cash and equivalents
Accounts receivable
0.0
0.0
58.9
49.8
870.9
784.5
2187.7
2060.8
Accounts payable
259.2
218.3
Accrued expenses
120.6
111.8
0.0
0.0
Notes payable
Current maturities of long-term debt
Other current liabilities
Total current liabilities
Long-term debt and capital leases
1.7
1.8
275.6
239.9
657.1
571.8
3.8
5.5
Other liabilities
217.7
228.3
Common equity
1309.1
1255.3
2187.7
2060.8
Financial Data
Cash flow to assets
Stock price
126.0
43.8
97.7
4277.6
Enterprise value
3858.6
8.7%
6.2%
39.4%
39.2%
6.4%
6.4%
AR/sales
1.6%
1.2%
Inventory/CGS
26.1%
24.5%
AP/CGS
10.6%
9.7%
Net investment
130.3
Multiples
Asset price/Cash flow assets
30.6x
15.1x
Asset price/Sales
Equity price/Net income
1.0x
16.7x
1/30/2011
1/31/2010
1/31/2009
3504.2
3102.7
3364.7
2130.3
1999.5
888.3
797.1
144.6
151.8
0.0
0.0
17.5
32.7
0.4
1.4
323.1
120.3
122.8
42.8
200.2
77.5
323.4
121.7
123.0
43.3
200.4
78.3
1/30/2011
1/31/2010
628.4
513.9
41.6
44.2
513.4
466.1
164.3
155.9
1347.6
1180.2
730.6
829.0
0.0
0.0
53.6
69.9
784.2
899.0
2131.7
2079.2
228.0
188.2
122.4
107.7
0.0
0.0
1.5
1.6
259.8
265.9
611.7
563.5
7.1
8.7
254.1
295.4
1258.9
1211.6
2131.7
2079.2
12.9%
-7.8%
39.2%
35.6%
5.7%
2.5%
1.2%
1.4%
24.1%
23.3%
10.7%
9.4%
12/31/2012
12/31/2011
148.2
134.1
62.0
55.5
Revenue
41.3
36.7
Depreciation
1.5
1.8
R&D
0.0
0.0
7.4
6.7
0.0
0.0
36.1
33.4
14.4
13.4
21.7
20.0
36.1
33.4
14.4
13.4
21.7
20.0
12/31/2012
12/31/2011
Balance Sheet
Assets
0.0
0.0
Accounts receivable
48.2
42.4
Inventory
33.3
29.2
0.0
0.0
81.5
71.6
3.9
3.1
0.0
0.0
0.0
0.0
3.9
3.1
85.5
74.8
Accounts payable
11.4
10.0
Accrued expenses
1.7
1.5
Notes payable
0.0
0.0
0.0
0.0
0.0
0.0
Total assets
Liabilities
13.0
11.5
0.0
0.0
Other liabilities
0.0
0.0
Common equity
72.4
63.3
85.5
74.8
Financial Data
12.5
Stock price
Common shares outstanding
9.9
0.0
Enterprise value
0.0
10.5%
20.3%
58.2%
58.6%
14.6%
14.9%
AR/sales
32.5%
31.6%
Inventory/CGS
53.8%
52.7%
AP/CGS
18.3%
18.0%
Net investment
9.1
Multiples
Asset Price/Cash flow assets
0.0x
0.0x
Asset Price/Sales
0.0x
0.0x
12/31/2010
12/31/2009
12/31/2008
111.5
90.7
79.2
49.1
47.3
32.5
29.6
2.0
2.2
0.0
0.0
5.6
5.4
0.0
0.0
22.2
6.2
8.9
0.5
13.3
5.6
22.2
6.2
8.9
0.5
13.3
5.6
12/31/2010
12/31/2009
0.0
0.0
36.6
29.1
26.8
24.9
0.0
0.0
63.4
53.9
3.8
5.1
0.0
0.0
0.0
0.0
3.8
5.1
67.3
59.0
9.1
8.3
1.4
1.2
0.0
0.0
0.0
0.0
0.0
0.0
10.5
9.5
0.0
0.0
0.0
0.0
56.8
49.6
67.3
59.0
22.9%
14.5%
56.0%
47.8%
12.0%
6.2%
32.9%
32.0%
54.6%
52.6%
18.6%
17.5%
BSET
ETH
FBN
HVT
LZB
RN
STLY
TPX
WSM
Teuer
Business- Manufacturing
Geographical Presence
Yes
USA
Yes
International
Yes
International
No
NA
Yes
USA, Canada
No
USA, Canada
Yes
USA
Yes
International
No
International
No
USA
154.67
573.12
59.66
362.90
801.36
2735.51
65.57
1879.95
4277.64
307.00
Market Cap
Based on the above parameters, HVT, RN and WSM have been chosen.
BSET
ETH
FBN
HVT
LZB
RN
STLY
TPX
WSM
Mean
Median
High
Low
20.26
NMF
30.63
25.44
25.44
30.63
20.26
21.47
0.49
NMF
2.36
15.06
0.95
18.27
1.27
18.27
0.95
21.47
2.36
15.06
0.49
318.24
395.49
187.92
Proposed EV
318.24
383.12
395.49
464.94
141.46
349.62
253.37
326.03
72.68
300.55
285.06
217.36
Teuer Furniture
CFA
Adjusted Net Income
Sales
Net Income
Net Debt
12.51
21.65
148.22
21.65
13.05
Average
Equity
399.23
301