Ethan Allen Interiors Inc

ethanallen.com

What Do They Do?

Designs, makes and sells upholstered furniture, wooden furniture and home accents to household clients, independent retailers and contract customers through design centers and online.

How Do They Make Money?

Earns sales from home furnishings and accents sold to retailers and contract clients, and to retail clients. Wholesale sales occur when products ship; retail sales occur when products are delivered.

revenue

Segment	Share	How money arrives
Upholstery Furniture Sold outright	50% FY2023: 48%	Sold outright
Case Goods Furniture Sold outright	27% FY2023: 30%	Sold outright
Accent Sold outright	19% FY2023: 19%	Sold outright
Manufactured Product, Other	3.6% FY2023: 3.6%

Who Are Their Customers?

Household clients buy through company-operated design centers and online. Independent design centers and contract clients buy through the wholesale business.

Do Revenues Turn Into Profits?

Yes. It kept 7 cents of every revenue dollar as net income in FY2026 and turned 7 cents into free cash flow.

Operating income, FY2026

8% of revenue

▼ −27% vs FY2025 ($62M, 10%)

Net income, FY2026

7% of revenue

▼ −23% vs FY2025 ($51.6M, 8%)

Free cash flow, FY2026

7% of revenue

▼ −18% vs FY2025 ($50.4M, 8%)

How Are They Changing?

Shrinking. Revenue fell 29% in 4 years, from $817.8M in FY2022 to $579.5M in FY2026, about 8% a year.

Revenue over time

Upholstery Furniture Case Goods Furniture Accent Manufactured Product, Other

$1B$500M$0

FY2022 FY2023 FY2024 FY2025 FY2026

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