Overview
TILE SHOP HOLDINGS, INC.
Latest 10-K: FY2025, filed Feb 26, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $0.34B
- 3.0%YoYdown from FY2024
- TotalRevenue
- Gross profit
- $0.22B
- 5.6%YoYdown from FY2024
- GrossProfit
- Operating income
- -$0.01B
- 265.3%YoYdown from FY2024
- OperatingIncome
- Net income
- -$0.00B
- 293.6%YoYdown from FY2024
- NetIncome
- Diluted EPS
- -$0.10
- 300.0%YoYdown from FY2024
- EPSDiluted
- Diluted shares
- 43.7M
- 0.4%YoYdown from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- TILE SHOP HOLDINGS, INC. reported revenue of $0.34B for fiscal 2025, down 3.0% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 1 of the last 5 fiscal years.
Profitability
- Operating margin was -1.7% and net margin was -1.3%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was -$0.10, down 300.0% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 24, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $336.82M3.0%down S&P 500 6.4% | $347.07M8.0%down S&P 500 4.5% | $377.15M4.4%down S&P 500 4.8% | $394.70M6.5%up S&P 500 10.3% | $370.70M14.0%up S&P 500 13.8% | -2.4% S&P 500 6.6% |
| Gross Profit Median of 315 / 498 | $215.02M5.6%down S&P 500 6.8% | $227.87M6.2%down S&P 500 5.5% | $243.06M6.1%down S&P 500 5.2% | $258.94M2.3%up S&P 500 8.3% | $253.13M14.3%up S&P 500 15.7% | -4.0% S&P 500 6.2% |
| Operating Income Median of 373 / 498 | negative: -$5.81M265.3%down S&P 500 7.3% | $3.52M78.2%down S&P 500 7.4% | $16.16M28.5%down S&P 500 4.9% | $22.61M9.7%up S&P 500 7.5% | $20.61M223.2%up S&P 500 23.5% | n/m S&P 500 7.2% |
| Net Income | negative: -$4.49M293.6%down S&P 500 4.8% | $2.32M77.0%down S&P 500 5.7% | $10.07M35.9%down S&P 500 1.9% | $15.70M6.3%up S&P 500 1.3% | $14.77M145.0%up S&P 500 33.9% | n/m S&P 500 4.1% |
| EPS (Diluted) | negative: -$0.10300.0%down S&P 500 6.2% | $0.0578.3%down S&P 500 7.9% | $0.2328.1%down S&P 500 1.9% | $0.3210.3%up S&P 500 1.5% | $0.29141.7%up S&P 500 34.8% | n/m S&P 500 5.6% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $301.73M5.6%down S&P 500 5.6% | $319.60M0.9%up S&P 500 3.4% | $316.67M8.4%down S&P 500 4.1% | $345.82M1.5%up S&P 500 2.2% | $340.76M0.6%down S&P 500 6.7% | -3.0% S&P 500 4.7% |
| Total Liabilities Median of 357 / 498 | $214.49M9.0%up S&P 500 6.4% | $196.69M0.1%down S&P 500 1.9% | $196.99M16.9%down S&P 500 2.9% | $237.05M8.5%up S&P 500 2.0% | $218.53M7.3%up S&P 500 5.2% | -0.5% S&P 500 4.4% |
| Stockholders' Equity | $87.24M29.0%down S&P 500 6.8% | $122.91M2.7%up S&P 500 5.4% | $119.69M10.0%up S&P 500 7.3% | $108.77M11.0%down S&P 500 2.5% | $122.22M12.1%down S&P 500 9.0% | -8.1% S&P 500 6.1% |
| Cash & Equivalents | $10.12M51.7%down S&P 500 5.2% | $20.96M143.1%up S&P 500 1.9% | $8.62M44.9%up S&P 500 6.7% | $5.95M36.4%down S&P 500 -8.6% | $9.36M2.7%down S&P 500 -2.9% | 2.0% S&P 500 2.0% |
| Total Debt Median of 393 / 498 | $25.00M† S&P 500 2.3% | — | — | $45.40M†808.0%up S&P 500 0.1% | $5.00M† S&P 500 0.0% | 49.5% S&P 500 3.7% |
† Sum of short-term and long-term debt; the company files no total-debt line.
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $5.79M78.6%down S&P 500 6.3% | $27.11M56.3%down S&P 500 4.8% | $62.06M2185.8%up S&P 500 9.9% | $2.71M93.2%down S&P 500 -0.7% | $39.69M39.5%down S&P 500 10.7% | -38.2% S&P 500 7.0% |
| Capital Expenditures | $9.56M34.2%down S&P 500 5.4% | $14.54M5.1%down S&P 500 2.8% | $15.31M9.2%up S&P 500 11.3% | $14.03M26.7%up S&P 500 14.0% | $11.07M462.5%up S&P 500 8.1% | -3.6% S&P 500 9.0% |
| Free Cash Flow Median of 378 / 498 | negative: -$3.77M130.0%down S&P 500 7.3% | $12.57M73.1%down S&P 500 6.1% | $46.75Mn/m S&P 500 8.8% | negative: -$11.31M139.5%down S&P 500 -11.3% | $28.62M55.0%down S&P 500 10.2% | n/m S&P 500 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
S&P 500 median = median of the companies in the index on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-20. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
n/m
Wall Street
on net earnings
FY2024 0.7%
negative: −2.5%
Value investor
on free cash flow
FY2024 4.1%
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E n/mValue investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Enterprise yield
What a dollar of enterprise value earned
6.0%
Wall Street
on EBITDA
FY2024 — Not reported
negative: −3.4%
Value investor
on EBIT
FY2024 — Not reported
Gap −9.4 pts: Value-investor figure 9.4 points lower
How it’s calculated
Wall Street · on EBITDA
EBITDA ÷ enterprise value (1 ÷ EV/EBITDA)
ev_ebitda (ratio table)
EV/EBITDA 16.6×Value investor · on EBIT
Operating income (EBIT) ÷ enterprise value: depreciation counts as a real cost
operating income ÷ (ev_ebitda × ebitda)
Valuation · Book yield
Net assets behind a dollar of market value
56.8%
Wall Street
on book equity
FY2024 40.4%
56.7%
Value investor
on tangible book
FY2024 40.4%
Gap −0.1 pts: Value-investor figure 0.1 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 1.8×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
negative: −4.3%
Wall Street
ROE: net income ÷ equity
FY2024 1.9%
negative: −2.2%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 1.1%
Gap +2.1 pts: Value-investor figure 2.1 points higher
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
3.0%
Wall Street
EBITDA margin
FY2024 6.1%
negative: −1.1%
Value investor
Free-cash-flow margin
FY2024 3.6%
Gap −4.1 pts: Value-investor figure 4.1 points lower
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
1.43×
Wall Street
Current ratio
FY2024 1.53×
0.30×
Value investor
Quick ratio, inventory excluded
FY2024 0.43×
Gap −1.13×: Value-investor figure 1.13 lower
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Debt cover
How many times one year of earnings repays all debt
0.41×
Wall Street
EBITDA ÷ total debt
FY2024 — Not reported
negative: −0.15×
Value investor
FCF ÷ total debt
FY2024 — Not reported
Gap −0.56×: Value-investor figure 0.56 lower
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Net debt/EBITDA 1.46×Value investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on TTSH yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on TTSH and publish the result to your public profile.
Cite this page
Data as of Oct 24, 2026. Canonical address: https://valuein.biz/data/TTSH
Valuein. (2026, October 24). TILE SHOP HOLDINGS, INC. (TTSH) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/TTSH
@misc{valuein_ttsh_2026,
author = {{Valuein}},
title = {TILE SHOP HOLDINGS, INC. (TTSH) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/TTSH}},
note = {Data as of 2026-10-24; source: SEC EDGAR filings}
}10-K filed Feb 26, 2026 · accession 0001552800-26-000006
Agents: every figure Valuein's tools return carries a fact_id that traces to its SEC filing.
point-in-time · survivorship-free · every number traceable to its SEC filing