# Tandy Leather Factory, Inc. (TLF)

> Source: Nexqual · https://nexqual.com/TLF · data as of 2026-10-15 20:00 UTC · cite as "Nexqual, Tandy Leather Factory, Inc. (TLF), nexqual.com/TLF" · informational, not investment advice.

**Price:** USD 2.38 (-0.21% on the day) · last close of Oct 15, 2026; US market closed, not a live price. Prev close 2.39 · day 2.35–2.49 · 52w 2.2–3.36 · market cap $19.5M · NCM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $77.2M, net income -$1.7M (-2.1% margin), free cash flow -$2.3M (SEC filings).
- Analysts: None.
- Total return with dividends: 1Y +3.3% vs S&P 500 +18.1%; 5Y -17.8% vs S&P 500 +85.1%.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $82.7M | $80.3M | $76.2M | $74.4M | $76.3M | $77.2M |
| Gross profit | $47.0M | $46.5M | $45.2M | $41.8M | $43.5M | — |
| Operating income | $2.3M | $1.4M | $4.4M | $628K | -$963K | -$382K |
| Net income | $1.4M | $1.2M | $3.8M | $827K | $9.1M | -$1.7M |
| EPS (diluted) | $0.16 | $0.15 | $0.45 | $0.09 | $1.10 | — |
| Free cash flow | $2.7M | $519K | $4.0M | $1.6M | -$8.1M | -$2.3M |
| Gross margin | 56.9% | 57.9% | 59.2% | 56.2% | 57.0% | — |
| Operating margin | 2.8% | 1.7% | 5.8% | 0.8% | -1.3% | -0.5% |
| Net margin | 1.6% | 1.5% | 4.9% | 1.1% | 11.9% | -2.1% |
| Revenue growth | +29.0% | -2.8% | -5.1% | -2.4% | +2.6% | — |
| Cash + short-term investments | — | $8.0M | $12.2M | $13.3M | $16.1M | — |
| Total debt | $415K | $0K | — | — | — | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 0.3x · P/B 0.4x · FCF yield -11.81% · Earnings yield -8.47% · Dividend yield (paid, TTM) 31.06%
P/E at fiscal year-ends: Dec 2025 2.5x, Dec 2024 50.9x, Dec 2023 9.5x.

## Analysts
Consensus None.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-16) | 5Y (from 2021-10-11) |
|---|---|---|
| Total return | +3.3% | -17.8% |
| S&P 500 (SPY) | +18.1% | +85.1% |
| Per year | +3.3% | -3.8% |
| Volatility (annualized) | 26.7% | 30.4% |
| Max drawdown | -15.9% (Oct 2025→Nov 2025) | -31.5% (Oct 2021→Sep 2022) |

## Peers (Specialty Retail)
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## More
Full page: https://nexqual.com/TLF · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt