TANDY LEATHER FACTORY INC
TLF· Nasdaq· Leather & Leather Products
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- -10.6%
- ROIC, 5 yr avg
- –
- Revenue, 5 yr CAGR
- +3.6%
We record prices for the companies we cover; TLF is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 8.3M
- Revenue
- $76.3M
- Free cash flow
- -$8.1M
- Owner earnings
- -$8.6M
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- 57.0%
- Operating
- -1.3%
- Net
- 11.9%
- Free cash flow
- -10.6%
- Owner earnings
- -11.2%
- Stock pay
- 0.6%
Returns
- ROIC, FY2025
- –
- ROIC, 5 yr avg
- –
- ROE, FY2025
- 17.3%
- ROE, 5 yr avg
- 6.1%
Growth (CAGR)
- Revenue, 3 yr
- -1.7%
- Revenue, 5 yr
- 3.6%
- Revenue, 9 yr
- -0.9%
- Diluted EPS, 3 yr
- 94.3%
- Diluted EPS, 5 yr
- –
- Diluted EPS, 9 yr
- 5.3%
- Free cash flow, 3 yr
- –
- Free cash flow, 5 yr
- –
- Free cash flow, 9 yr
- –
Financial health · FY2025
- Cash and investments
- $16.1M
- Total debt
- –
- Net cash
- –
- Debt/Equity
- –
- Debt/FCF
- –
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- 140.0%
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- -1.8%
Financials: ten years from the 10-Ks
Revenue
$76.3M
-0.9% a year over 9 years
FY2016FY2025
Margins
Gross57.0%Operating-1.3%Net11.9%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow-$8.1MOwner earnings-$8.6M
FY2025
FY2016FY2025
Diluted shares
8.3M
-11.3% over 9 years, net buybacks
FY2016FY2025
Return on invested capital
–
FY2025
FY2016FY2025
Net cash
–
$8.0M more cash than debt
FY2016FY2025
Every figure, year by year
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $82.9M | $82.4M | $83.2M | $74.9M | $64.1M | $82.7M | $80.3M | $76.2M | $74.4M | $76.3M |
| Revenue growth | -1.5% | -0.6% | 0.9% | -10.0% | -14.5% | 29.0% | -2.8% | -5.1% | -2.4% | 2.6% |
| Gross margin | 62.4% | 59.6% | 61.2% | 56.0% | 56.3% | 56.9% | 57.9% | 59.2% | 56.2% | 57.0% |
| Operating margin | 12.4% | 7.7% | 7.2% | -3.5% | -9.9% | 2.8% | 1.7% | 5.8% | 0.8% | -1.3% |
| Net income | $6.4M | $2.5M | $4.4M | -$1.9M | -$4.9M | $1.4M | $1.2M | $3.8M | $827.0K | $9.1M |
| Net margin | 7.7% | 3.0% | 5.3% | -2.5% | -7.6% | 1.6% | 1.5% | 4.9% | 1.1% | 11.9% |
| Diluted EPS | $0.69 | $0.27 | $0.48 | $-0.21 | $-0.54 | $0.16 | $0.15 | $0.45 | $0.09 | $1.10 |
| Return on invested capital? | 15.0% | 6.5% | 7.0% | – | – | 3.4% | 2.8% | – | – | – |
| Cash | ||||||||||
| Operating cash flow | $7.7M | $2.5M | $7.8M | $10.5M | -$12.5M | $3.7M | $1.2M | $4.5M | $4.5M | -$556.0K |
| Capital expenditure | $1.7M | $1.7M | $1.1M | $269.0K | $1.3M | $1.0M | $635.0K | $576.0K | $3.0M | $7.5M |
| Free cash flow | $6.0M | $773.8K | $6.7M | $10.2M | -$13.8M | $2.7M | $519.0K | $4.0M | $1.6M | -$8.1M |
| Stock-based compensation | $199.9K | $239.6K | $327.6K | $770.0K | $887.0K | $797.0K | $1.1M | $770.0K | $548.0K | $484.0K |
| Owner earnings? | $5.8M | $534.2K | $6.4M | $9.4M | -$14.7M | $1.9M | -$541.0K | $3.2M | $1.0M | -$8.6M |
| Free cash flow per share | $0.65 | $0.08 | $0.73 | $1.14 | $-1.53 | $0.31 | $0.06 | $0.47 | $0.18 | $-0.98 |
| Capital allocation | ||||||||||
| Dividends paid | – | – | – | – | – | – | – | – | $0 | $12.7M |
| Share repurchases | $3.7M | $0 | $1.7M | $735.0K | $0 | $2.7M | $1.8M | $11.0K | $0 | $1.4M |
| Diluted shares | 9.3M | 9.2M | 9.2M | 9.0M | 9.1M | 8.7M | 8.4M | 8.4M | 8.8M | 8.3M |
| Share count change? | -7.7% | -0.8% | -0.4% | -2.5% | 1.0% | -3.8% | -3.7% | -0.3% | 4.9% | -5.9% |
| Balance sheet | ||||||||||
| Cash and equivalents | $16.9M | $18.1M | $24.1M | $15.9M | $10.3M | $10.2M | $8.0M | $12.2M | $13.3M | $16.1M |
| Short-term investments | – | – | – | – | – | – | – | – | – | – |
| Total debt | $7.4M | $7.4M | $9.0M | $0 | $446.0K | $415.0K | $0 | – | – | – |
| Net debt | -$9.5M | -$10.7M | -$15.1M | -$15.9M | -$9.9M | -$9.7M | -$8.0M | – | – | – |
| Shareholders' equity | $52.5M | $55.9M | $58.3M | $56.4M | $52.2M | $51.5M | $51.5M | $56.3M | $57.2M | $52.6M |
Latest filings
| 2026-08-11 | 8-K | Earnings release |
| 2026-08-11 | 10-Q | Quarterly report |
| 2026-05-11 | 8-K | Earnings release |
| 2026-05-11 | 10-Q | Quarterly report |
| 2026-04-27 | DEF 14A | Proxy statement |
| 2026-02-24 | 8-K | Earnings release |
| 2026-02-24 | 10-K | Annual report |
| 2025-11-10 | 8-K | Earnings release |
| 2025-11-10 | 10-Q | Quarterly report |
| 2025-08-12 | 8-K | Earnings release |
More from our coverage
- MSFTPlatforms8.4MicrosoftThe most entrenched software franchise in the enterprise, now spending its cash flow on AI capacity; a great business we would own with a margin of safety, not at any price.Base value $410.29
- NVDAAI infrastructure8.4NVIDIAThe best business in technology at the top of its cycle: the moat is CUDA as much as silicon, but today's margins are a peak, not a floor.Base value $104.32
- AAPLHardware7.6AppleOne of the highest-quality businesses in the world growing in the low single digits; the price usually assumes more growth than the numbers show.Base value $134.27
- GOOGLPlatforms7.4AlphabetSearch pays for everything, and AI is both its biggest threat and its biggest opportunity; the price has to allow for search being worth less than it was.Base value $209.60
- NOWSoftware7.4ServiceNowA rare enterprise platform still growing above 20% with high retention; the free cash flow is real but stock pay takes a large share of it.Base value $189.13
- ADBESoftware7.4AdobeSuperb margins and a shrinking share count, priced for decline; the question is whether AI makes Adobe's tools more valuable or makes them unnecessary.Base value $449.35
