Virco Mfg. Corporation
- Open
- 6.17
- Day high
- 6.21
- Day low
- 6.16
- Prev close
- 6.14
- Volume
- 11K
- Mkt cap
- $97M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.9
- P/S
- 0.5
- Yield
- 0.81%
- Per share
- $0.05
- ▲Insiders net buying $190K over the last 3 months (12 open-market buys, 0 sales)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions reducing (13F)
Virco Mfg. Corporation (VIRC) is a Consumer Cyclical company listed on NASDAQ. The stock is down 20% over the past year. Over the trailing 3 months, insiders filed 12 open-market buys and 0 sales (SEC Form 4).
Virco Mfg. Corporation (VIRC) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
VIRC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 3, 2026 | $0.01 | $-0.18 | -1900.0% | $31M | +12.8% |
| Dec 8, 2025 | $0.47 | $-0.08 | -117.0% | $48M | -44.6% |
| Sep 5, 2025 | $0.84 | $0.70 | -16.7% | $92M | +7.2% |
| Jun 6, 2025 | $-0.13 | $-0.01 | +92.3% | $34M | -17.9% |
| Dec 9, 2024 | $0.87 | $0.52 | -40.2% | $83M | +92.1% |
| Sep 9, 2024 | $1.00 | $1.04 | +4.0% | $108M | -6.5% |
| Jun 7, 2024 | $-0.13 | $0.13 | +200.0% | $47M | +23.8% |
| Dec 8, 2023 | $0.39 | $0.62 | +59.0% | $84M | +107.0% |
| Sep 11, 2023 | $0.64 | $0.95 | +48.4% | $107M | +12.7% |
| Jun 12, 2023 | $-0.17 | $-0.09 | +47.1% | $35M | +3.7% |
| Dec 12, 2022 | $0.47 | $0.48 | +2.1% | $77M | -3.6% |
| Sep 13, 2022 | $0.43 | $0.60 | +39.5% | $83M | -9.5% |
VIRC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 30, 2026 | VIRTUE DOUGLAS Adirector, officer: Executive Vice President | Buy | 1,400 | $6.00 |
| Jun 17, 2026 | RICHARDSON BRADLEY Cdirector | Grant | 12,096 | $6.20 |
| Jun 17, 2026 | Lind Robert Rdirector | Grant | 8,064 | $6.20 |
| Jun 17, 2026 | Winkler Agnieszkadirector | Grant | 8,064 | $6.20 |
| Jun 17, 2026 | LEVRA CRAIG Ldirector | Grant | 6,048 | $6.19 |
| Jun 15, 2026 | VIRTUE ROBERT Adirector, officer: CEO | Buy | 2,500 | $6.16 |
| Jun 15, 2026 | VIRTUE ROBERT Adirector, officer: CEO | Buy | 1,800 | $6.31 |
| Jun 11, 2026 | VIRTUE DOUGLAS Adirector, officer: Executive Vice President | Buy | 1,314 | $6.00 |
| Apr 15, 2026 | VIRTUE DOUGLAS Adirector, officer: Executive Vice President | Buy | 4,349 | $6.07 |
| Apr 15, 2026 | VIRTUE DOUGLAS Adirector, officer: Executive Vice President | Buy | 11,678 | $6.09 |
| Apr 15, 2026 | Lind Robert Rdirector | Buy | 500 | $6.07 |
| Apr 14, 2026 | VIRTUE ROBERT Adirector, officer: CEO | Buy | 2,000 | $6.22 |
| Apr 14, 2026 | VIRTUE ROBERT Adirector, officer: CEO | Buy | 700 | $6.22 |
| Apr 13, 2026 | VIRTUE ROBERT Adirector, officer: CEO | Buy | 3,300 | $5.52 |
| Apr 13, 2026 | RICHARDSON BRADLEY Cdirector | Buy | 1,600 | $5.59 |
Source: VIRC SEC Form 4 filings, latest Jun 30, 2026. For informational purposes only — not investment advice.
See the full VIRC insider & 13F page →Virco Mfg. Corporation company profile
Overview
Virco Mfg. Corporation (NASDAQ:VIRC) is a furniture manufacturer founded in 1950 and headquartered in Torrance, California. The company went public in 1980 and has established itself as a specialized provider of furniture solutions primarily serving educational institutions, government facilities, and commercial venues. With over seven decades of operation, Virco has built its reputation around designing and manufacturing durable, functional furniture that meets the specific needs of institutional customers.
Business
Virco operates in the institutional furniture manufacturing industry, focusing on creating specialized furniture solutions for educational and commercial environments. The company's business revolves around three main product categories that address different functional needs within institutional settings. The seating products segment represents a core component of Virco's offerings, encompassing a comprehensive range of chairs designed for classroom and office environments. This includes traditional 4-leg chairs, modern cantilever designs, tablet armchairs that combine seating with integrated work surfaces, steel-frame rockers, stackable chairs for space efficiency, and specialized ergonomic seating. The company also produces hard plastic seating options and upholstered chairs to meet varying comfort and durability requirements. The tables and computer furniture segment provides essential work surfaces and technology integration solutions. This category includes folding tables for multipurpose spaces, activity tables for educational settings, office desks, computer workstations, and mobile tables that can be easily reconfigured. Additionally, Virco manufactures specialized computer furniture such as keyboard trays, CPU holders, instructor media stations, and technology towers that help institutions integrate modern technology into their learning and working environments. The storage and administrative furniture segment rounds out the company's product portfolio with solutions for organization and administrative functions. This includes administrative office furniture like desks and bookcases, laboratory furniture designed for science education environments, mobile storage solutions, and specialized handling equipment including stackable storage trucks that help institutions manage their furniture inventory efficiently. While specific revenue breakdowns by segment are not publicly disclosed, the educational market appears to represent the largest portion of Virco's business, with the company serving schools, colleges, and universities as its primary customer base.
Revenue model
Virco generates revenue primarily through direct product sales of manufactured furniture to institutional customers. The company operates on a traditional manufacturing business model where it designs, produces, and sells physical furniture products at marked-up prices above manufacturing costs. Revenue is typically recognized upon delivery and installation of furniture to customer facilities. The company serves its customers through two main distribution channels: direct sales teams that work with large institutional accounts, and an established dealer network that extends Virco's reach to smaller customers and regional markets. This dual-channel approach allows the company to maintain relationships with major educational systems while also capturing business from smaller institutions and commercial customers. Virco's profitability is significantly influenced by several key factors. Seasonal demand patterns create substantial revenue fluctuations, with peak sales occurring during summer months when educational institutions prepare for new school years, while winter quarters typically show weaker performance. Raw material costs, particularly steel and other metals used in furniture frames, directly impact margins as these represent significant input costs that can fluctuate based on commodity markets. Labor costs and manufacturing efficiency also play crucial roles, as furniture manufacturing remains labor-intensive despite automation efforts. Competition from lower-cost overseas manufacturers pressures margins, particularly for standard furniture items, though Virco's focus on durability and compliance with educational specifications provides some protection. Government funding levels for education represent a major external factor, as budget constraints in school districts can significantly reduce demand for furniture purchases. Additionally, facility construction and renovation cycles in the education sector create cyclical demand patterns that can impact revenue timing and predictability.
Competitive moat
Virco's competitive moat is relatively modest but exists primarily through its specialized expertise in educational furniture requirements and established relationships within the institutional market. The company has developed deep knowledge of the specific durability, safety, and functional requirements needed for educational environments, including compliance with various educational standards and regulations that can be barriers for generic furniture manufacturers. The company's established dealer network and direct sales relationships provide some competitive advantage, as institutional furniture purchases often involve complex specification processes and ongoing service relationships. Educational institutions tend to prefer working with established suppliers who understand their unique needs and can provide consistent product availability over time. However, Virco's moat is not particularly strong or durable. The furniture manufacturing industry has relatively low barriers to entry for basic products, and the company faces significant competitive pressure from both domestic and international manufacturers who can often compete on price. Large contract furniture manufacturers like Steelcase, Herman Miller, and Hon Company have substantially greater resources and broader product portfolios. Additionally, overseas manufacturers can produce similar products at lower costs, particularly for standard furniture items that don't require specialized educational features. The company's competitive position is further challenged by the fact that furniture is largely a commodity product where differentiation is limited, and customer loyalty is often driven more by price and availability than by brand preference. While Virco's focus on the educational niche provides some protection, this market specialization also limits growth opportunities and makes the company vulnerable to changes in educational funding and spending patterns.
Risks & safety
Virco's margin of safety appears moderate with some concerning aspects requiring attention. • Cash and liquidity position: Cash decreased significantly from $38.9 million in Q3 FY2025 to $26.9 million in Q4 FY2025, indicating substantial cash consumption during the seasonally weak quarter. • Debt levels: Debt-to-equity ratio of 0.38 is manageable, though it has increased from 0.15 in Q1 FY2025, suggesting growing leverage. • Profitability volatility: The company showed strong profitability in Q2-Q3 FY2025 but posted a $5.7 million loss in Q4 FY2025, highlighting the extreme seasonal nature of the business. • Cash flow concerns: Free cash flow was negative $9.2 million in Q4 FY2025 and negative $8.3 million from operations, indicating significant cash burn during the slow season. • Valuation metrics: Trading at approximately 6.4x EV/EBITDA based on full-year results, which appears reasonable for a cyclical manufacturer. • Current ratio: Strong at 3.0x, indicating good short-term liquidity coverage despite cash flow challenges. • Working capital management: The business requires substantial working capital investment during peak seasons, creating cash flow timing challenges.
Recent development
Based on the available financial data, Virco appears to be navigating a challenging period marked by significant seasonal volatility and operational pressures. The company demonstrated strong performance during its peak seasons in fiscal 2025, with Q2 generating $16.8 million in net income and Q3 producing $8.4 million, indicating robust demand during the traditional back-to-school preparation period. However, the company's Q4 FY2025 results revealed the severity of seasonal challenges, with a $5.7 million loss and negative $9.2 million in free cash flow. This pattern suggests that while Virco maintains its market position during peak demand periods, the company struggles with operational efficiency and cost management during slower periods. The financial trajectory over the past few years shows mixed signals. Full-year fiscal 2024 results were strong with $21.9 million in net income on $269.1 million in revenue, but fiscal 2025 saw net income drop to breakeven despite similar revenue levels of $266.2 million. This deterioration in profitability despite stable revenue suggests either margin compression from competitive pressures, increased costs, or operational inefficiencies. The company's cash position has shown volatility, ranging from very low levels of $644,000 in Q1 FY2025 to peaks of nearly $39 million in Q3 FY2025, reflecting the extreme working capital requirements of the seasonal business model. The substantial cash consumption in Q4 FY2025 highlights the ongoing challenge of managing cash flow through the cyclical nature of educational furniture demand.
VIRC company profile · for informational purposes only — not investment advice.
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