TTSHOTCRetail-Home Furniture, Furnishings & Equipment StoresFiscal year ends December 31
TILE SHOP HOLDINGS, INC.
Financials through Q4 FY2025, quarter ended Dec 31, 2025Last filing: 10-K on Feb 26, 2026
$2.07−0.02 (-1.05%)
Close on Oct 19, 2026
- Market cap
- $89.16M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
63.8%−4.3 pts over 5 years
Operating margin
-1.7%−3.7 pts over 5 years
Net margin
-1.3%−3.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -3.0% | -5.1% | +0.7% | +1.4% | |
| Gross profit | -5.6% | -6.0% | -0.6% | +0.5% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 14.5% | – | – | |
| Return on assets | 7.2% | 1.6% | -1.4% | |
| Current ratio | 1.60 | 1.36 | 1.43 | |
| Debt to equity | 0.20 | – | – | |
| Net debt to EBITDA | 0.28× | – | 1.46× | |
| Interest coverage | 19.2× | 3.4× | -141.8× | |
| Inventory turnover | 1.3× | 1.2× | 1.4× | |
| Capex to revenue | 8.4% | 0.6% | 2.8% | |
| Diluted shares | 52M | 51M | 44M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Tile Shop generated $137.37M from operations and spent $159.61M on capital expenditure, dividends and share buybacks. 40% of that went back into the business.
Generated
$137.37M
Used
$159.61M
Capital expenditure$64.51M40%Dividends$32.95M21%Share buybacks$62.15M39%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin2.9%
×Asset turnover1.26×
×Equity multiplier1.96×
=Return on equity, FY20187.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2018 | 2.9% | 1.26× | 1.96× | 7.2% |
| FY2017 | 3.1% | 1.29× | 1.90× | 7.7% |
| FY2016 | 5.7% | 1.27× | 2.01× | 14.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$4.49M
- Cash generatingOperating cash flow above zero$5.79M
- Return on assets improvedROA up on the prior year0.7% → -1.4%
- Earnings backed by cashOperating cash flow above net income$5.79M vs -$4.49M
- Less leverageLong-term debt to assets fell– → 8.3%
- Better liquidityCurrent ratio rose1.53 → 1.43
- No dilutionShare count did not rise44M → 44M
- Gross margin improvedGross margin up on the prior year65.66% → 63.84%
- More efficientAsset turnover rose1.10 → 1.05