Tandy Leather Factory Inc (TLF) - Net Assets
Based on the latest financial reports, Tandy Leather Factory Inc (TLF) has net assets worth $46.50 Million USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($81.52 Million) and total liabilities ($35.02 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Tandy Leather Factory Inc tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $46.50 Million |
| % of Total Assets | 57.04% |
| Annual Growth Rate | 7.31% |
| 5-Year Change | 2.12% |
| 10-Year Change | -2.05% |
| Growth Volatility | 13.12 |
Tandy Leather Factory Inc - Net Assets Trend (1993–2025)
This chart illustrates how Tandy Leather Factory Inc's net assets have evolved over time, based on quarterly financial data. See TLF defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Tandy Leather Factory Inc (1993–2025)
The table below shows the annual net assets of Tandy Leather Factory Inc from 1993 to 2025. For live valuation and market cap data, see Tandy Leather Factory Inc market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $52.59 Million | -7.98% |
| 2024-12-31 | $57.15 Million | +1.43% |
| 2023-12-31 | $56.35 Million | +9.49% |
| 2022-12-31 | $51.46 Million | -0.07% |
| 2021-12-31 | $51.50 Million | -1.33% |
| 2020-12-31 | $52.19 Million | -7.49% |
| 2019-12-31 | $56.42 Million | -5.11% |
| 2018-12-31 | $59.46 Million | -0.13% |
| 2017-12-31 | $59.54 Million | +10.89% |
| 2016-12-31 | $53.69 Million | +5.34% |
| 2015-12-31 | $50.97 Million | +3.76% |
| 2014-12-31 | $49.12 Million | +10.09% |
| 2013-12-31 | $44.62 Million | +18.92% |
| 2012-12-31 | $37.52 Million | +8.97% |
| 2011-12-31 | $34.43 Million | +15.70% |
| 2010-12-31 | $29.76 Million | -10.79% |
| 2009-12-31 | $33.36 Million | +6.70% |
| 2008-12-31 | $31.26 Million | +4.86% |
| 2007-12-31 | $29.82 Million | +13.27% |
| 2006-12-31 | $26.32 Million | +23.83% |
| 2005-12-31 | $21.26 Million | +22.81% |
| 2004-12-31 | $17.31 Million | +19.30% |
| 2003-12-31 | $14.51 Million | +29.90% |
| 2002-12-31 | $11.17 Million | -10.09% |
| 2001-12-31 | $12.42 Million | +20.67% |
| 2000-12-31 | $10.30 Million | +18.34% |
| 1999-12-31 | $8.70 Million | +6.10% |
| 1998-12-31 | $8.20 Million | +1.23% |
| 1997-12-31 | $8.10 Million | +1.25% |
| 1996-12-31 | $8.00 Million | -13.98% |
| 1995-12-31 | $9.30 Million | +13.41% |
| 1994-12-31 | $8.20 Million | +49.09% |
| 1993-12-31 | $5.50 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Tandy Leather Factory Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 2073.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $60.84 Million | 115.69% |
| Common Stock | $22.00K | 0.04% |
| Other Comprehensive Income | $-2.15 Million | -4.09% |
| Total Equity | $52.59 Million | 100.00% |
Tandy Leather Factory Inc Competitors by Market Cap
The table below lists competitors of Tandy Leather Factory Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Kamdhenu Ventures Limited
NSE:KAMOPAINTS
|
$18.75 Million |
|
Han Express
KO:014130
|
$18.75 Million |
|
North Eastern Carrying Corporation Limited
NSE:NECCLTD
|
$18.75 Million |
|
Puma Exploration Inc
V:PUMA
|
$18.76 Million |
|
Karsu Tekstil Sanayi ve Ticaret AS
IS:KRTEK
|
$18.73 Million |
|
Asuransi Ramayana Tbk
JK:ASRM
|
$18.72 Million |
|
Mhethanol Co. Ltd.
KO:023150
|
$18.72 Million |
|
Flux Power Holdings Inc
NASDAQ:FLUX
|
$18.69 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tandy Leather Factory Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 57,153,000 to 52,591,000, a change of -4,562,000 (-8.0%).
- Net income of 9,102,000 contributed positively to equity growth.
- Dividend payments of 12,745,000 reduced retained earnings.
- Share repurchases of 1,363,000 reduced equity.
- Other comprehensive income decreased equity by 40,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $9.10 Million | +17.31% |
| Dividends Paid | $12.74 Million | -24.23% |
| Share Repurchases | $1.36 Million | -2.59% |
| Other Comprehensive Income | $-40.00K | -0.08% |
| Other Changes | $484.00K | +0.92% |
| Total Change | $- | -7.98% |
Book Value vs Market Value Analysis
This analysis compares Tandy Leather Factory Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.36x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 3.86x to 0.36x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1993-12-31 | $0.60 | $2.30 | x |
| 1994-12-31 | $0.82 | $2.30 | x |
| 1995-12-31 | $0.93 | $2.30 | x |
| 1996-12-31 | $0.80 | $2.30 | x |
| 1997-12-31 | $0.81 | $2.30 | x |
| 1998-12-31 | $0.82 | $2.30 | x |
| 1999-12-31 | $0.87 | $2.30 | x |
| 2000-12-31 | $1.00 | $2.30 | x |
| 2001-12-31 | $1.18 | $2.30 | x |
| 2002-12-31 | $1.04 | $2.30 | x |
| 2003-12-31 | $1.34 | $2.30 | x |
| 2004-12-31 | $1.58 | $2.30 | x |
| 2005-12-31 | $1.94 | $2.30 | x |
| 2006-12-31 | $2.37 | $2.30 | x |
| 2007-12-31 | $2.67 | $2.30 | x |
| 2008-12-31 | $2.84 | $2.30 | x |
| 2009-12-31 | $3.17 | $2.30 | x |
| 2010-12-31 | $2.90 | $2.30 | x |
| 2011-12-31 | $3.38 | $2.30 | x |
| 2012-12-31 | $3.69 | $2.30 | x |
| 2013-12-31 | $4.37 | $2.30 | x |
| 2014-12-31 | $4.80 | $2.30 | x |
| 2015-12-31 | $5.05 | $2.30 | x |
| 2016-12-31 | $5.76 | $2.30 | x |
| 2017-12-31 | $6.44 | $2.30 | x |
| 2018-12-31 | $6.46 | $2.30 | x |
| 2019-12-31 | $6.29 | $2.30 | x |
| 2020-12-31 | $5.76 | $2.30 | x |
| 2021-12-31 | $5.91 | $2.30 | x |
| 2022-12-31 | $6.13 | $2.30 | x |
| 2023-12-31 | $6.73 | $2.30 | x |
| 2024-12-31 | $6.51 | $2.30 | x |
| 2025-12-31 | $6.36 | $2.30 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tandy Leather Factory Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 17.31%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 11.93%
- • Asset Turnover: 0.88x
- • Equity Multiplier: 1.65x
- Recent ROE (17.31%) is above the historical average (9.18%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1993 | 21.82% | 4.92% | 2.54x | 1.75x | $650.00K |
| 1994 | 18.29% | 5.34% | 1.52x | 2.26x | $680.00K |
| 1995 | 12.90% | 3.82% | 1.63x | 2.08x | $270.00K |
| 1996 | -12.50% | -3.53% | 1.55x | 2.29x | $-1.80 Million |
| 1997 | 1.23% | 0.39% | 1.49x | 2.10x | $-710.00K |
| 1998 | 12.20% | 4.50% | 1.39x | 1.95x | $180.00K |
| 1999 | 4.60% | 1.48% | 1.49x | 2.09x | $-470.00K |
| 2000 | 14.97% | 5.12% | 1.53x | 1.91x | $511.76K |
| 2001 | 16.15% | 5.38% | 1.91x | 1.57x | $764.07K |
| 2002 | -12.66% | -3.56% | 2.02x | 1.76x | $-2.53 Million |
| 2003 | 18.89% | 6.57% | 2.19x | 1.31x | $1.29 Million |
| 2004 | 15.33% | 5.75% | 2.08x | 1.28x | $923.02K |
| 2005 | 17.47% | 7.32% | 1.98x | 1.21x | $1.59 Million |
| 2006 | 18.15% | 8.65% | 1.73x | 1.21x | $2.14 Million |
| 2007 | 10.36% | 5.58% | 1.47x | 1.26x | $106.58K |
| 2008 | 8.33% | 4.89% | 1.30x | 1.31x | $-522.30K |
| 2009 | 9.95% | 6.09% | 1.26x | 1.30x | $-17.91K |
| 2010 | 13.98% | 6.95% | 1.48x | 1.36x | $1.18 Million |
| 2011 | 13.80% | 7.19% | 1.45x | 1.32x | $1.31 Million |
| 2012 | 14.91% | 7.70% | 1.48x | 1.31x | $1.84 Million |
| 2013 | 16.28% | 9.28% | 1.39x | 1.26x | $2.80 Million |
| 2014 | 15.69% | 9.24% | 1.33x | 1.28x | $2.79 Million |
| 2015 | 12.56% | 7.61% | 1.30x | 1.27x | $1.31 Million |
| 2016 | 11.92% | 7.72% | 1.17x | 1.32x | $1.03 Million |
| 2017 | 7.48% | 5.41% | 1.10x | 1.26x | $-1.50 Million |
| 2018 | 3.30% | 2.36% | 1.09x | 1.28x | $-3.98 Million |
| 2019 | -3.37% | -2.54% | 0.94x | 1.42x | $-7.54 Million |
| 2020 | -9.39% | -7.65% | 0.84x | 1.46x | $-10.12 Million |
| 2021 | 2.63% | 1.64% | 1.13x | 1.42x | $-3.80 Million |
| 2022 | 2.38% | 1.53% | 1.17x | 1.33x | $-3.92 Million |
| 2023 | 6.69% | 4.94% | 1.06x | 1.28x | $-1.87 Million |
| 2024 | 1.45% | 1.11% | 0.99x | 1.31x | $-4.89 Million |
| 2025 | 17.31% | 11.93% | 0.88x | 1.65x | $3.84 Million |
Industry Comparison
This section compares Tandy Leather Factory Inc's net assets metrics with peer companies in the Specialty Retail industry.
Industry Context
- Industry: Specialty Retail
- Average net assets among peers: $724,168,096
- Average return on equity (ROE) among peers: 32.86%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tandy Leather Factory Inc (TLF) | $46.50 Million | 21.82% | 0.75x | $18.73 Million |
| Able View Global Inc. Class B Ordinary Shares (ABLV) | $7.74 Million | 76.78% | 1.27x | $26.97 Million |
| Arhaus Inc (ARHS) | $3.03 Million | 248.25% | 87.69x | $371.16 Million |
| Arko Corp (ARKO) | $217.91 Million | -2.67% | 2.71x | $770.72 Million |
| Academy Sports Outdoors Inc (ASO) | $857.04 Million | 2.50% | 2.78x | $3.20 Billion |
| BARK, Inc. (BARK) | $-46.01 Million | 0.00% | 0.00x | $73.19 Million |
| Build-A-Bear Workshop Inc (BBW) | $93.68 Million | 50.45% | 1.87x | $397.54 Million |
| Bath & Body Works Inc. (BBWI) | $2.15 Billion | 10.13% | 1.00x | $3.86 Billion |
| Best Buy Co. Inc (BBY) | $3.61 Billion | 27.69% | 2.61x | $13.82 Billion |
| Big 5 Sporting Goods Corporation (BGFV) | $268.78 Million | 9.72% | 1.64x | $33.00 Million |
| Barnes & Noble Education Inc (BNED) | $80.40 Million | -94.22% | 10.32x | $250.98 Million |
About Tandy Leather Factory Inc
Tandy Leather Factory, Inc., together with its subsidiaries, retails leather and leathercraft-related items in the United States, Canada, and Spain. It offers leather, hand tools, hardware, kits, liquids, teaching materials, open workbenches, machines, and other supplies. The company manufactures leather laces, cut leather pieces, do-it-yourself kits, thread laces, belt strips and straps, and Cra… Read more