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Tile Shop Holdings (TTSH) Fair Value & Analysis

Consumer Cyclical · US · Market cap $119M

TS Tile Shop Holdings logo Tile Shop Holdings TTSH · US
Price$2.95
Fair Value$1.47
Upside-50.2%
Quality47/100
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Weak Growth
Loss-making · -1.3% net margin
Low debt · negative free cash flow
Trails peers (1/11)
Narrow moat 12/100
Evidence: Low Range $1.10 – $1.47 Share as image

Fair value as of: Jul 25, 2026

From 3 valuation models · updated 16 days ago

Share price +3.5% over the past month.

Below-average quality, and screening another 50% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case ($1.47). The favourable scenario is already priced in.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

$8.01 $2.65 Fair Value $1.47 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 25, 2026.

How to read this chart

60‑month range $2.65 – $8.01 · fair‑value band $1.10 – $1.47 · the $2.95 price screens above the $1.47 fair value. Dashed = 300-day average. As of Jul 25, 2026.

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Analysis

Tile Shop Holdings (TTSH) currently trades at $2.95, while our model-based Fair Value estimate is $1.47, implying the stock looks roughly 50.2% overvalued today. The Quality Score stands at 47/100 (below-average quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, Tile Shop Holdings generated revenue of $337M at a net margin of -1.3%. Revenue declined 2.5% year over year. It earns a return on equity of -4.3%. Net debt stands at $150M. Fundamentals as of Jul 25, 2026

Our scenario range runs from $1.10 (bear case) to $1.47 (bull case); at $2.95, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 60% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -21% fair-value upside, at -50%, TTSH screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
EV/EBITDA $1.92 $2.69 $3.45 54
NCAV (Graham) $1.10 $1.47 $2.19 50
Owner Earnings $0.0600 $0.2100 31
All 3 models by family
DCF Models
Owner Earnings $0.0600 $0.2100 31
Multiples
EV/EBITDA $1.92 $2.69 $3.45 54
Asset-Based
NCAV (Graham) $1.10 $1.47 $2.19 50

Widest divergence: Multiples ($2.69) versus DCF Models ($0.0600). Highest evidence: EV/EBITDA (54).

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Key figures & financial health

Revenue (TTM) $337M
Revenue growth (YoY) -2.5%
Net margin -1.3%
Return on equity -4.3%
Free cash flow −$3.8M FY2025
Operating margin -5.7%
More key figures
EPS (TTM) $-0.1000
EPS growth (YoY) -68.0%
Net debt $150M FY2025

Figures from reported company fundamentals · as of Jul 25, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 46 · Market factors (momentum, volatility) 19

Profitability 41
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 11
Earnings quality: real cash, not paper profit
Fin. Strength 36
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 30
Calm price path (market factor)
Momentum 22
Price trend over the last 3–12 months (market factor)
52W Momentum 4
Distance to the 52-week high (market factor)
Net Issuance 92
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Tile Shop Holdings, Inc. operates as a specialty retailer of man-made and natural stone tiles, vinyl tiles, setting and maintenance materials, and related accessories in the United States.

Full company description

Tile Shop Holdings, Inc. operates as a specialty retailer of man-made and natural stone tiles, vinyl tiles, setting and maintenance materials, and related accessories in the United States. The company offers natural stone products, including marble, travertine, granite, quartz, sandstone, slate, and onyx tiles; and man-made products comprises ceramic, porcelain, glass, cement, wood look, and metal and luxury vinyl tile. It also manufactures setting and maintenance materials, such as thinset, grout, and sealers; and accessories, which include installation tools, shower and bath shelves, drains, and related products, as well as work with other suppliers to manufacture private label products. In addition, the company provides delivery service through third-party freight providers. It sells its products under the Superior Adhesives & Chemicals, Superior Tools & Supplies, Rush River, and Fired Earth brands. Tile Shop Holdings, Inc. was founded in 1985 and is headquartered in Plymouth, Minnesota.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tile Shop Holdings reported revenue of $337M in FY2025 versus $371M in FY2021, a compound −2.4%/yr. Reported net income was −$4.5M in FY2025.

Growth Quality 6/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
$337M
Latest YoY
−3.0%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−5.1%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+0.7%
Avg. growth/yr (15Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.3%
Revenue −2.4%/yr
FY21 $371M
FY22 $395M
FY23 $377M
FY24 $347M
FY25 $337M
Net income
FY21 $14.8M
FY22 $15.7M
FY23 $10.1M
FY24 $2.3M
FY25 −$4.5M
Character of growth · EPS growth decomposed (2014-2025) −8.1 % p.a.
Revenue per share +4.6 pp

of which total revenue +2.6 pp · buybacks/dilution +2.0 pp

EBIT margin −13.8 pp
Tax rate +2.4 pp
Residual (interest, one-offs) −1.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

TTSH screens 50% overvalued. Compare with The Home Depot, Inc →

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Cite: Fair Value Calculator (2026). "Tile Shop Holdings Fair Value". https://www.fairvalue-calculator.com/stock/TTSH

Peer Group

Home Improvement Retail · 36 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 46 · Below median
Fair Value upside −50% · Bottom 25%
Return on assets -1% · Bottom 25%
Net margin (TTM) -1% · Bottom 25%
Operating margin (TTM) -6% · Bottom 25%
Revenue growth -3% · Bottom 25%
Debt / equity 0.29× · Higher than 75% of peers

Valuation Multiples vs Home Improvement Retail median · lower = cheaper

P/B 1.36× · Pricier than median
P/S (TTM) 0.35× · Cheaper than median
EV/EBITDA 13.7× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 25
FUTURE 0 · sector 11
PAST 0 · sector 30
HEALTH 86 · sector 95
DIVIDEND 0 · sector 50

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Home Improvement Retail stocks, each showing price versus our Fair Value estimate (as of Jul 25, 2026).

Stock Price Fair Value vs Fair Value
The Home Depot, Inc HD $337.74 $236.85 -30%
Lowe's Companies, Inc LOW $209.66 $186.32 -11%
Wesfarmers Limited WES A$92.80 A$50.50 -46%
Floor & Decor Holdings FND $56.40 $32.81 -42%
Mr D.I.Y. Group 5296 1.70 MYR 1.47 MYR -14%
Home Product Center Public Company HMPROR 6.65 THB 6.31 THB -5%
Siam Global House Public Company GLOBAL 7.50 THB 5.96 THB -21%
Dohome Public Company DOHOME 3.86 THB 2.90 THB -25%
Haverty Furniture Companies, Inc HVT $25.66 $22.53 -12%
Test-Rite International Co 2908 22.00 TWD 9.18 TWD -58%

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Frequently asked questions

Is Tile Shop Holdings (TTSH) overvalued or undervalued?
As of Jul 25, 2026, our model estimates a fair value of $1.47 versus a price of $2.95, about −50% (overvalued).
What is the fair value of TTSH?
Our model-based fair value for Tile Shop Holdings is $1.47 (as of Jul 25, 2026), built from audited fundamentals. The current price is $2.95.
What is the quality score of TTSH?
Tile Shop Holdings has a Quality Score of 47/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Tile Shop Holdings (TTSH)?
Tile Shop Holdings reported trailing-twelve-month revenue of about $337M (latest available figure, as of Jul 25, 2026).
What is the net profit margin of TTSH?
The net profit margin of Tile Shop Holdings is about -1.3%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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