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TILE Interface

Interface, Inc. is a global flooring company specializing in carbon neutral carpet tile and resilient flooring, including luxury vinyl tile (LVT) and nora® rubber flooring. Interface helps its customers create high-performance interior spaces that support well-being, productivity, and creativity, as well as the sustainability of the planet. With its mission, Climate Take Back™, Interface commits to operating in a way that is restorative to the planet and creates a climate fit for life.

Company profile

Ticker
TILE
Exchange
CEO
Daniel Hendrix
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
IRS number
581451243

TILE stock data

(
)

Calendar

3 Mar 21
22 Apr 21
3 Jan 22
Quarter (USD)
Jan 21 Oct 20 Jul 20 Apr 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jan 21 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Interface earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 103.05M 103.05M 103.05M 103.05M 103.05M 103.05M
Cash burn (monthly) 222K (positive/no burn) (positive/no burn) 3.27M (positive/no burn) (positive/no burn)
Cash used (since last report) 809.6K n/a n/a 11.94M n/a n/a
Cash remaining 102.24M n/a n/a 91.11M n/a n/a
Runway (months of cash) 460.6 n/a n/a 27.8 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
16 Mar 21 James Poppens Common Stock Grant Aquire A No No 0 23,585 0 30,981
16 Mar 21 Stansfield Nigel Common Stock Grant Aquire A No No 0 39,280 0 110,273
16 Mar 21 Bruce Andrew Hausmann Common Stock Grant Aquire A No No 0 40,197 0 136,057
16 Mar 21 David B Foshee Common Stock Grant Aquire A No No 0 28,957 0 120,475
16 Mar 21 Robert Pridgen Common Stock Grant Aquire A No No 0 4,639 0 4,639

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

96.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 160 156 +2.6%
Opened positions 30 17 +76.5%
Closed positions 26 35 -25.7%
Increased positions 48 60 -20.0%
Reduced positions 56 52 +7.7%
13F shares
Current Prev Q Change
Total value 1.26B 311.31M +306.1%
Total shares 56.7M 50.86M +11.5%
Total puts 177.7K 112.3K +58.2%
Total calls 67.3K 12.4K +442.7%
Total put/call ratio 2.6 9.1 -70.8%
Largest owners
Shares Value Change
BLK Blackrock 9.11M $95.63M +8.8%
Vanguard 5.81M $61.01M +4.6%
Frontier Capital Management 4.66M $48.89M +33.6%
Frontier Capital Management 4.66M $48.89M NEW
Dimensional Fund Advisors 2.63M $27.6M -4.1%
Capital World Investors 2.54M $26.69M +62.9%
STT State Street 1.84M $19.36M +2.2%
LSV Asset Management 1.68M $17.64M -7.8%
Deprince Race & Zollo 1.5M $15.76M -13.8%
MS Morgan Stanley 1.28M $13.47M +793.8%
Largest transactions
Shares Bought/sold Change
Frontier Capital Management 4.66M +4.66M NEW
IVZ Invesco 268.49K -3.73M -93.3%
Frontier Capital Management 4.66M +1.17M +33.6%
MS Morgan Stanley 1.28M +1.14M +793.8%
Capital World Investors 2.54M +981.66K +62.9%
BLK Blackrock 9.11M +735.33K +8.8%
Verdad Advisers 635K +635K NEW
Canada Pension Plan Investment Board 529.9K +529.9K NEW
Healthcare Of Ontario Pension Plan Trust Fund 508.1K +508.1K NEW
Assenagon Asset Management 0 -488.28K EXIT

Financial report summary

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Competition
Armstrong Flooring
Risks
  • The COVID-19 pandemic could have a material adverse effect on our ability to operate, our ability to keep employees safe from the pandemic, our results of operations, financial condition, liquidity, capital investments, our near term and long term ability to stay in compliance with debt covenants under our Syndicated Credit Facility and Senior Notes, our ability to refinance our existing indebtedness, and our ability to obtain financing in capital markets.
  • Sales of our principal products have been and may continue to be affected by the COVID-19 pandemic, adverse economic cycles, and effects in the new construction market and renovation market.
  • Our earnings could be adversely affected by non-cash adjustments to goodwill, when a test of goodwill assets indicate a material impairment of those assets.
  • Our substantial international operations are subject to various political, economic and other uncertainties that could adversely affect our business results, including by restrictive taxation or other government regulation and by foreign currency fluctuations.
  • We have a substantial amount of debt, which could adversely affect our business, financial condition and results of operations and our ability to meet our payment obligations under our debt.
  • Servicing our debt requires a significant amount of cash, and we may not have sufficient cash flow from our operations to pay our indebtedness.
  • We may incur substantial additional indebtedness, which could further exacerbate the risks associated with our substantial indebtedness.
  • Unanticipated termination or interruption of any of our arrangements with our primary third party suppliers of synthetic fiber or our sole third party supplier for luxury vinyl tile (“LVT”) could have a material adverse effect on us.
  • If we fail to realize the expected synergies and other benefits of the nora acquisition, our results of operations and stock price may be negatively affected.
  • The market price of our common stock has been volatile and the value of your investment may decline.
  • Changes to our facilities, manufacturing processes, product construction, and product composition could disrupt our operations, increase customer complaints, increase warranty claims, negatively affect our reputation, and have a material adverse effect on our financial condition and results of operations.
  • Our business operations could suffer significant losses from natural disasters, catastrophes, fire, pandemics or other unexpected events.
  • We face risks associated with litigation and claims.
Management Discussion
  • For fiscal year 2020, our net sales decreased $239.8 million (17.9%) compared to 2019. As discussed above, the decrease was primarily due to the impacts of COVID-19 resulting in lower sales volumes globally. Fluctuations in currency exchange rates had a positive impact on our year-over-year sales comparison of approximately $7.1 million, meaning that if currency levels had remained constant year over year our 2020 sales would have been lower by this amount. On a geographic basis, we experienced sales declines across all our regions. Sales in the Americas were down 21.6%, sales in Europe were down 10.7% as reported in U.S. dollars, and sales in our Asia-Pacific region were down 17.7%.
  • The sales decrease of 21.6% in the Americas in 2020 was due primarily to the impacts of COVID-19 and lower carpet tile sales volumes. On a market segment basis, the sales decrease in the Americas was most significant in the corporate office (down 33.8%), retail (down 34.8%), healthcare (down 15.2%) and education (down 8.3%) market segments, partially offset by increases in the residential living (up 23.8%) and public buildings (up 8.2%) market segments.
  • In Europe, net sales in the region decreased both in U.S. dollars (down 10.7%) and local currency (down 12.5%). The decrease in sales was due primarily to the impacts of COVID-19 and lower carpet tile sales volumes, partially offset by the strengthening of the Euro and British pound sterling against the U.S. dollar. On a market segment basis, the sales decrease in Europe was most significant in the corporate office (down 18.0%), hospitality (down 47.5%) and public buildings (down 14.2%) market segments, partially offset by increases in the transportation (up 40.3%), leisure (up 57.1%), healthcare (up 10.5%) and education (up 9.0%) market segments.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
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Patents

APP
Utility
Surface Coverings Including Carbon Sequestering Materials and Methods of Making
18 Mar 21
Floor coverings, such as modular panels or tiles, for installation on interior surfaces include one or more layers, for example, an upper wear layer and a backing layer, where at least one layer includes a filler that includes a carbon negative material, such as concentrated carbon.
GRANT
Utility
Surface coverings including carbon sequestering materials and methods of making
16 Feb 21
Floor coverings, such as modular panels or tiles, for installation on interior surfaces include an upper wear layer and a backing layer, where the backing layer includes a filler that includes concentrated carbon.
APP
Utility
Surface Coverings Including Carbon Sequestering Materials and Methods of Making
8 Jul 20
Floor coverings, such as modular panels or tiles, for installation on interior surfaces include an upper wear layer and a backing layer, where the backing layer includes a filler that includes concentrated carbon.
APP
Utility
Axial Force Pressure Transducer
18 Mar 20
A system and method configured to measure applied force and pressure on a load cell.
APP
Utility
Digital Printing for Flooring and Decorative Structures
4 Mar 20
Certain aspects and features relate to using an image modifier to generate digital designs and to printing the digital designs on a structure for flooring or other decoration that can more realistically mimic designs found in nature or otherwise provide designers with the freedom to create aesthetic designs more easily.