Virco Manufacturing Corp
VIRC—
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Virco Manufacturing Corp AI Insights
Informational only. Not investment advice.Snapshot
- Gross profit TTM down 51% YoY - severe demand destruction in furniture manufacturing segment[Gross Profit 1Y Growth]
- FCF negative (-4.3M TTM) despite 26.5M cash; inventory at 53M (55% of current assets) signals overstocking[Free Cash Flow]
- P/E of 27x vs industry median 15x while EPS collapsed 83% YoY - valuation disconnected from fundamentals[P/E Ratio]
Watch Triggers
- Inventory: Declines >15% without proportional revenue drop — Signals liquidation discounting that will crush near-term margins
- Free Cash Flow: Returns to positive for 2 consecutive quarters — Would indicate operational turnaround vs continued cash burn
- Accounts Receivable: Normalizes below 10M (from 13.8M) — 33M receivables change suggests collection/customer issues
Bull Case
Trading at 0.9x book value with 113.6M tangible equity and minimal debt (0.37 D/E) provides downside floor
P/B RatioDebt to EquityTangible Book Value
Gross margin 40.8% still above industry median 40.6% - core pricing power intact despite volume decline
Gross MarginOperating Margin
Bear Case
EPS -83% YoY with revenue -3.6% over 5Y suggests structural decline, not cyclical trough
EPS Growth 1YTotal Revenue 5Y Growth
P/CF ratio 61x (vs industry 9x) and negative FCF means no margin of safety at current price
P/CF RatioFree Cash Flow
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
35%
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Forward Thesis
Inventory liquidation cycle will compress margins further before recovery
3-12mhigh
- 53M inventory vs 202M revenue = 96 days on hand
- Negative FCF requires working capital drawdown
- Gross profit halved signals pricing pressure
FCF -4.3M TTM vs positive cash flow priorReceivables jumped 33M (collection issues)Operating margin 2.7% near breakeven
Valuation Context
Caveats
VIRC Fundamentals
Manufacturing → Furniture and Related Product Manufacturing
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$94.38M | — | ||
$129.4M | — | ||
0.00 | — | ||
$196.59M | -22.4% | — | |
$-0.07 | — | ||
0.05% | -9.7% | — | |
-0.48% | -8.5% | — | |
$4.73M | -56.8% | — | |
-0.90% | -21.4% | — | |
Beta 5Y (Monthly) | unknown | — |
VIRC Dividend History
45 dividends
2026
$0.050006/18/26$0.0250
03/20/26$0.0250
2025
$0.100012/19/25$0.0250
09/19/25$0.0250
06/20/25$0.0250
03/26/25$0.0250
2024
$0.090012/20/24$0.0250
09/20/24$0.0250
06/21/24$0.0200
03/06/24$0.0200
2023
$0.020012/21/23$0.0200
2018
$0.060012/26/18$0.0150
09/25/18$0.0150
06/25/18$0.0150
03/22/18$0.0150
2017
$0.015012/27/17$0.0150
2011
$0.050005/11/11$0.0250
03/02/11$0.0250
2010
$0.100011/03/10$0.0250
08/25/10$0.0250
05/12/10$0.0250
03/03/10$0.0250
2009
$0.100011/06/09$0.0250
08/28/09$0.0250
05/01/09$0.0250
02/19/09$0.0250
2008
$0.100011/10/08$0.0250
08/28/08$0.0250
05/07/08$0.0250
02/20/08$0.0250
2007
$0.025011/14/07$0.0250
2003
$0.040006/26/03$0.0200
03/27/03$0.0200
2002
$0.080012/24/02$0.0200
10/09/02$0.0200
06/26/02$0.0200
03/26/02$0.0200
2001
$0.080012/27/01$0.0200
10/10/01$0.0200
06/27/01$0.0200
03/28/01$0.0200
2000
$0.079812/27/00$0.0200
10/11/00$0.0200
06/28/00$0.0200
03/29/00$0.0200
VIRC Stock Splits
No stock splits
VIRC SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
06/03/26 | 04/30/26 | 10-Q | |
04/08/26 | 01/31/26 | Unknown | |
12/08/25 | 10/31/25 | 10-Q | |
09/05/25 | 07/31/25 | 10-Q | |
06/06/25 | 04/30/25 | 10-Q | |
04/14/25 | 01/31/25 | Unknown | |
12/09/24 | 10/31/24 | 10-Q | |
09/09/24 | 07/31/24 | 10-Q | |
06/07/24 | 04/30/24 | 10-Q | |
04/12/24 | 01/31/24 | 10-K | |
12/08/23 | 10/31/23 | 10-Q | |
09/11/23 | 07/31/23 | 10-Q | |
06/12/23 | 04/30/23 | 10-Q | |
04/28/23 | 01/31/23 | 10-K | |
12/12/22 | 10/31/22 | 10-Q | |
09/13/22 | 07/31/22 | 10-Q | |
06/10/22 | 04/30/22 | 10-Q | |
04/28/22 | 01/31/22 | 10-K | |
12/13/21 | 10/31/21 | 10-Q | |
09/14/21 | 07/31/21 | 10-Q | |
06/11/21 | 04/30/21 | 10-Q | |
04/28/21 | 01/31/21 | 10-K | |
12/14/20 | 10/31/20 | 10-Q | |
09/14/20 | 07/31/20 | 10-Q | |
06/12/20 | 04/30/20 | 10-Q | |
04/30/20 | 01/31/20 | 10-K | |
12/13/19 | 10/31/19 | 10-Q | |
09/13/19 | 07/31/19 | 10-Q | |
06/14/19 | 04/30/19 | 10-Q | |
05/01/19 | 01/31/19 | 10-K | |
12/14/18 | 10/31/18 | 10-Q | |
09/14/18 | 07/31/18 | 10-Q | |
06/08/18 | 04/30/18 | 10-Q | |
04/27/18 | 01/31/18 | 10-K | |
12/15/17 | 10/31/17 | 10-Q | |
09/14/17 | 07/31/17 | 10-Q | |
06/12/17 | 04/30/17 | 10-Q | |
04/25/17 | 01/31/17 | 10-K | |
12/13/16 | 10/31/16 | 10-Q | |
09/14/16 | 07/31/16 | 10-Q | |
06/13/16 | 04/30/16 | 10-Q | |
04/26/16 | 01/31/16 | 10-K | |
12/15/15 | 10/31/15 | 10-Q | |
09/11/15 | 07/31/15 | 10-Q | |
06/12/15 | 04/30/15 | 10-Q | |
04/24/15 | 01/31/15 | 10-K | |
12/10/14 | 10/31/14 | 10-Q | |
09/12/14 | 07/31/14 | 10-Q | |
06/16/14 | 04/30/14 | 10-Q | |
04/28/14 | 01/31/14 | 10-K | |
12/09/13 | 10/31/13 | 10-Q | |
09/13/13 | 07/31/13 | 10-Q | |
06/12/13 | 04/30/13 | 10-Q | |
04/22/13 | 01/31/13 | 10-K | |
12/07/12 | 10/31/12 | 10-Q | |
09/14/12 | 07/31/12 | 10-Q | |
06/11/12 | 04/30/12 | 10-Q | |
04/25/12 | 01/31/12 | 10-K | |
12/15/11 | 10/31/11 | 10-Q | |
09/14/11 | 07/31/11 | 10-Q | |
06/09/11 | 04/30/11 | 10-Q | |
04/15/11 | 01/31/11 | 10-K | |
12/09/10 | 10/31/10 | 10-Q | |
09/10/10 | 07/31/10 | 10-Q | |
06/08/10 | 04/30/10 | 10-Q | |
04/16/10 | 01/31/10 | 10-K | |
12/10/09 | 10/31/09 | 10-Q | |
09/09/09 | 07/31/09 | 10-Q | |
06/09/09 | 04/30/09 | 10-Q | |
04/16/09 | 01/28/09 | Unknown | -- |
12/10/08 | 10/30/08 | Unknown | -- |
09/09/08 | 07/31/08 | 10-Q | |
06/06/08 | 04/30/08 | 10-Q | |
04/15/08 | 01/29/08 | Unknown | -- |
12/07/07 | 10/30/07 | Unknown | -- |
09/07/07 | 07/31/07 | 10-Q | |
06/08/07 | 04/30/07 | 8-K | |
04/16/07 | 01/28/07 | Unknown | -- |
12/11/06 | 10/30/06 | Unknown | -- |
09/11/06 | 07/31/06 | 10-Q | |
06/09/06 | 04/30/06 | 10-Q | |
04/17/06 | 01/28/06 | Unknown | -- |
12/12/05 | 10/30/05 | Unknown | -- |
09/09/05 | 07/31/05 | 10-Q | |
06/09/05 | 04/30/05 | 10-Q | |
04/18/05 | 01/28/05 | Unknown | -- |
12/10/04 | 10/30/04 | Unknown | -- |
09/09/04 | 07/31/04 | 10-Q | |
06/08/04 | 04/30/04 | 10-Q | |
04/15/04 | 01/29/04 | Unknown | -- |
12/15/03 | 10/30/03 | Unknown | -- |
09/15/03 | 07/31/03 | 10-Q | |
04/30/03 | 04/30/03 | Unknown | -- |
04/30/03 | 01/28/03 | Unknown | -- |
12/13/02 | 10/30/02 | Unknown | -- |
09/13/02 | 07/31/02 | 10-Q | |
06/13/02 | 04/30/02 | 10-Q | |
05/01/02 | 01/28/02 | Unknown | -- |
12/14/01 | 10/30/01 | Unknown | -- |
09/14/01 | 07/31/01 | 10-Q | |
06/13/01 | 04/30/01 | 10-Q | |
04/30/01 | 01/28/01 | Unknown | -- |
12/11/00 | 10/30/00 | Unknown | -- |
09/12/00 | 07/31/00 | 10-Q | |
06/15/00 | 04/30/00 | 10-Q | |
05/01/00 | 01/29/00 | Unknown | -- |