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Data as of Q3 2026
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What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on $12.3M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 4 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 43%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 4 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
EOD close · as of 2026-10-29
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $377.9M 100.0% | $335.1M 100.0% | $326.0M 100.0% | $6.0M 100.0% |
| Cost of Revenue | $272.6M 72.1% | $252.0M 75.2% | $239.7M 73.5% | $2.3M 37.9% |
| Gross Profit | $105.3M 27.9% | $83.0M 24.8% | $86.2M 26.5% | $3.7M 62.1% |
| Selling, General & Admin | $18.3M 4.9% | $17.3M 5.2% | $17.4M 5.3% | $976K 16.3% |
| Total Operating Expenses | $85.9M 22.7% | $73.5M 21.9% | $69.0M 21.2% | $3.0M 49.7% |
| Operating Income | $19.4M 5.1% | $9.5M 2.8% | $17.2M 5.3% | $743K 12.4% |
| Interest Expense | $1.4M 0.4% | $1.0M 0.3% | $882K 0.3% | — |
| Interest & Investment Income | $23K 0.0% | $119K 0.0% | $339K 0.1% | — |
| Other Income (Expense), net | $1.4M 0.4% | $1.3M 0.4% | -$5.0M -1.5% | $72K 1.2% |
| Pretax Income | $20.8M 5.5% | $10.8M 3.2% | $12.2M 3.7% | $815K 13.6% |
| Income Tax Expense | $4.2M 1.1% | $2.4M 0.7% | $1.9M 0.6% | — |
| Net Income | $16.6M 4.4% | $8.4M 2.5% | $10.3M 3.2% | $815K 13.6% |
| Per Share | ||||
| EPS (Basic) | $0.18 | $0.09 | $0.12 | $0.06 |
| EPS (Diluted) | $0.18 | $0.09 | $0.12 | $0.06 |
| Weighted Avg Shares (Basic) | 89.7M | 89.7M | 88.3M | 13.3M |
| Weighted Avg Shares (Diluted) | 89.7M | 89.7M | 88.3M | 13.3M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 2 positive fiscal years (FY2023, FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $1.49 today, the market must believe free cash flow compounds -8.0%/yr for a decade (off $15.5M on the 3-yr avg basis).
The market's -8.0% is more conservative than its 3-yr track record.
Default is 8.7% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.09B shares (market data) · net debt -$16.9M
Today's price is outside this grid at every discount rate shown — the assumptions it requires lie beyond the plotted range, which is itself the finding.
mean 439.6% · volatility σ 764% · implied rate exceeded in 1/2 yrs
Central path = implied -8.0%/yr growth; shaded band = ±1σ (764%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~13.5% on $10.4M of debt.
Cash of $27.3M fully covers short-term debt of $10.4M.
Mostly short-term debt (balance-sheet current vs non-current split). A year-by-year maturity schedule wasn't disclosed for this issuer.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Top 1 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
EOD close · as of 2026-10-29
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 59% against ROIC 43% — 16% of the return on equity comes from leverage and buybacks rather than from the operating business.
Equity is the year-end figure. On average equity over the two year-ends, ROE is 85.9% — the two diverge when buybacks or issuance move equity during the year.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 8.1× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Cost of Revenue | 37.9 | 73.5 | 75.2 | 72.1 |
| Gross Profit | 62.1 | 26.5 | 24.8 | 27.9 |
| SG&A | 16.3 | 5.3 | 5.2 | 4.9 |
| Operating Income | 12.4 | 5.3 | 2.8 | 5.1 |
| Income Tax | — | 0.6 | 0.7 | 1.1 |
| Net Income | 13.6 | 3.2 | 2.5 | 4.4 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on HTLM: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Ranked against 6 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WSM | $30.6B | 29.4× | 18.0× | 3.9× | 1.2% | 46.2% | 13.9% | 52.3% | 52.3% | -0.6× | 307 |
| BBY | $21.1B | 19.9× | 8.7× | 0.5× | 0.4% | 22.5% | 2.6% | 36.1% | 36.1% | -0.8× | 252 |
| GME | $12.1B | 31.2× | 39.6× | 3.3× | -5.1% | 33.0% | 11.5% | 7.7% | 4.4% | -8.5× | 93 |
| RH | $2.9B | 23.9× | 11.1× | 0.8× | 8.1% | 44.1% | 3.6% | 206% | 5.1% | 5.0× | 55 |
| ARHS | $1.8B | 26.5× | 11.4× | 1.3× | 8.5% | 38.9% | 4.9% | 16.1% | 16.1% | -1.9× | 31 |
| LOVE | $239M | 59.2× | 6.8× | 0.3× | 2.4% | 56.4% | 0.6% | 1.9% | 1.9% | -5.0× | 19 |
| HTLM | $134M | 8.3× | 5.9× | 0.3× | 12.8% | 27.9% | 4.4% | 59.5% | 43.3% | -0.8× | 1 |
Peers = companies sharing HTLM's sector (Retail-Furniture Stores) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Earns 51.39pts above its cost of capital, but net margin has stepped down from 1364.0% to 438.08% over 3 years.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2022 | 3.8% | 8.7% (today's — no rate published for this year) | -4.9pts |
| FY2023 | 89.8% | 11.5% | 78.3pts |
| FY2024 | 51.9% | 10.3% | 41.6pts |
| FY2025 | 60.1% | 9.8% | 50.4pts |
| Now | 43.3% | 8.7% | 34.6pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2022 | 62.1% | 12.4% | 13.6% |
| FY2023 | 26.5% | 5.3% | 3.2% |
| FY2024 | 24.8% | 2.8% | 2.5% |
| FY2025 | 27.9% | 5.1% | 4.4% |
Leverage and buybacks account for 16 points of the 59% return on equity in FY2025. The business earns 43% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
Net margin is 438.08% against 1364.0% 3 years ago — a step down the business has not recovered, whatever the spread says today.
Converts 1.16x of reported profit into cash — adequate, without much margin.
Shares outstanding are up 577% since FY2022 — per-share cash flow has grown more slowly than the totals above, and the gap is the owners'.
Missing from our data, so excluded from this answer: share_based_compensation.
Covers interest 9.6x even after a 30% EBITDA decline.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 13.77x |
| 5% | 13.08x |
| 10% | 12.39x |
| 15% | 11.70x |
| 20% | 11.02x |
| 25% | 10.33x |
| 30% | 9.64x |
| 35% | 8.95x |
| 40% | 8.26x |
| 45% | 7.57x |
| 50% | 6.88x |
| 55% | 6.20x |
| 60% | 5.51x |
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
Operating leases are $7,497,260 of the $17,886,354 total — a fixed obligation that does not appear in a headline debt figure.
At $1.49, free cash flow must compound -7.14%/yr for 10 years. It has done 92.9%/yr over 3 years, though across a reporting-basis change.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2023 | 979.8% | −7.1% |
| FY2024 | −100.7% | −7.1% |
The achieved growth rate spans a reporting-basis change in FY2023, so part of it measures the restatement rather than the business.
| Step | Amount | Running total |
|---|---|---|
| Net income | $17M | $17M |
| Share-based comp | not reported | not reported |
| Other non-cash & working capital | −$3M | $13M |
| Operating cash flow | $13M | $13M |
| Capex | −$1M | $12M |
| Free cash flow | $12M | $12M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2023 | 5357.6% | not reported | not reported |
| FY2024 | 2.8% | 58922.5% | 58919.8 points |
| FY2025 | 12.8% | 13.6% | 0.8 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2022 | not reported | not reported | not reported | not reported |
| FY2023 | 0.1 days | 1 days | 1.5 days | -0.4 days |
| FY2024 | 72.9 days | 11.6 days | 0.4 days | 84.2 days |
| FY2025 | 73.4 days | 12.9 days | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2022 | not reported |
| FY2023 | -119.8 percent |
| FY2024 | 6.8 percent |
| FY2025 | 2.2 percent |
Below the line, the asset base is being consumed faster than it is replaced.
Depreciation here includes amortisation of acquired intangibles — goodwill written down over time, customer lists, acquired technology. Capex does not replace those and is not meant to, so an acquisitive or asset-light company sits below 1.0 permanently and correctly. The signal is cleanest for capital-intensive businesses, where the two measure the same physical base. For that reason this informs the earnings-quality verdict but never caps it.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.