T
TANDY LEATHER FACTORY INC
TLFCIK 0000909724NasdaqNon-AcceleratedSmaller ReportingLeather & Leather ProductsDelawareFY ends Dec 31
Period
FY 2025
Revenue
$76.32M
Net Income
$9.10M
Total Assets
$86.63M
Equity
$52.59M
Shares Out
8.07M
Op. Cash Flow
$-556.0K
Business
TANDY LEATHER FACTORY INC is a specialty retailer and manufacturer focused on leather and leathercraft products and services. It offers leather, hand tools, hardware, kits, liquids, machines, supplies, branded products (Tandy Leather, Eco‑Flo, Craftool, CraftoolPro, Dr. Jackson’s, TandyPro) and production services including cutting, splitting, assembly and do‑it‑yourself kits. The company operates retail stores, a commercial division with dedicated account representatives, a production facility and a central distribution center. It sells primarily through company‑owned stores, global websites and direct commercial accounts across the U.S., Canada and select international markets.
Summary from filing dated 2025-02-26
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net sales | 76 | 74 | 76 | 80 | 83 | |
| Cost of sales | 33 | 33 | 31 | 34 | 36 | |
| Gross profit | 44 | 42 | 45 | 46 | 47 | |
| Operating expenses | 45 | 41 | 41 | 45 | 45 | |
| (Loss) Income from operations | −963,000 | 628,000 | 4 | 1 | 2 | |
| Interest income | 552,000 | 331,000 | 93,000 | −9,000 | 16,000 | |
| Gain on disposal of headquarter (see footnote 11) | 16 | 0 | — | — | — | |
| Other, net | −4 | 132,000 | 42,000 | −11,000 | 91,000 | |
| Total other income | 13 | 463,000 | 135,000 | −20,000 | 107,000 | |
| Income before income taxes | 12 | 1 | 5 | 1 | 2 | |
| Income tax provision | 3 | 264,000 | 777,000 | 181,000 | 839,000 | |
| Net income | 9 | 827,000 | 4 | 1 | 1 | |
| Foreign currency translation adjustments, net of tax | −40,000 | −568,000 | 356,000 | −527,000 | −81,000 | |
| Comprehensive income | 9 | 259,000 | 4 | 700,000 | 1 | |
| Basic (in Dollars per share) | 1.11 | 0.1 | 0.45 | 0.15 | 0.16 | |
| Diluted (in Dollars per share) | 1.1 | 0.09 | 0.45 | 0.15 | 0.16 | |
| Basic (in Shares) | 8 | 8 | 8 | 8 | 9 | |
| Diluted (in Shares) | 8 | 9 | 8 | 8 | 9 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 16 | 13 | 12 | 8 | 10 | |
| Accounts receivable-trade, net of allowance for credit losses of $51 at December 31, 2025 and $49 at December 31, 2024 | 400,000 | 300,000 | 300,000 | 400,000 | 600,000 | |
| Inventory | 33 | 36 | 38 | 38 | 38 | |
| Income tax receivable | 0 | 384,000 | 248,000 | 302,000 | 972,000 | |
| Prepaid expenses | 721,000 | 898,000 | 475,000 | 272,000 | 483,000 | |
| Other current assets | 111,000 | 96,000 | 113,000 | 106,000 | 141,000 | |
| Total current assets | 51 | 51 | 51 | 47 | 50 | |
| Property and equipment, at cost | 26 | 32 | 29 | 28 | 28 | |
| Less accumulated depreciation | −16 | −19 | −18 | −17 | −16 | |
| Property and equipment, net | 10 | 12 | 11 | 11 | 12 | |
| Operating lease assets | 25 | 10 | 9 | 10 | 10 | |
| Deferred income taxes | 400,000 | 1 | 880,000 | 0 | 0 | |
| Other assets | 710,000 | 517,000 | 438,000 | 392,000 | 394,000 | |
| TOTAL ASSETS | 87 | 75 | 72 | 69 | 73 | |
| Accounts payable-trade | 2 | 3 | 2 | 3 | 5 | |
| Accrued expenses and other liabilities | 4 | 4 | 3 | 3 | 4 | |
| Income taxes payable | 428,000 | 0 | 288,000 | 211,000 | 0 | |
| Current portion of operating lease liabilities | 4 | 3 | 3 | 3 | 3 | |
| Total current liabilities | 10 | 10 | 9 | 9 | 12 | |
| Uncertain tax positions | 227,000 | 248,000 | 388,000 | 450,000 | 415,000 | |
| Other non-current liabilities | 149,000 | 76,000 | 205,000 | 326,000 | 417,000 | |
| Operating lease liabilities, non-current | 24 | 8 | 6 | 7 | 8 | |
| COMMITMENTS AND CONTINGENCIES (Note 6) | — | — | — | — | — | |
| Common stock, $0.0024 par value; 25,000,000 shares authorized; 9,497,251 and 9,920,957 shares issued at December 31, 2025 and December 31, 2024, respectively; 8,072,875 and 8,496,581 shares outstanding at December 31, 2025 and December 31, 2024, respectively | 22,000 | 23,000 | 23,000 | 23,000 | 24,000 | |
| Paid-in capital | 4 | 5 | 4 | 3 | 4 | |
| Retained earnings | 61 | 64 | 64 | 60 | 59 | |
| Treasury stock at cost (1,424,376 shares at December 31, 2025 and December 31, 2024) | −10 | −10 | −10 | −10 | — | |
| Accumulated other comprehensive loss, net of tax | −2 | −2 | −2 | −2 | −1 | |
| Total stockholders' equity | 53 | 57 | 56 | 51 | 52 | |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 87 | 75 | 72 | 69 | 73 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 858,000 | 1 | 1 | 1 | 1 | |
| Operating lease asset amortization | 5 | 4 | 3 | 3 | 3 | |
| Stock-based compensation | 484,000 | 548,000 | 770,000 | 1 | 797,000 | |
| Deferred income taxes | 834,000 | −342,000 | −902,000 | −10,000 | 83,000 | |
| Accounts receivable-trade | −90,000 | −72,000 | 107,000 | 244,000 | −325,000 | |
| Inventory | 3 | 2 | 231,000 | −328,000 | −3 | |
| Prepaid expenses | 178,000 | −424,000 | −202,000 | 210,000 | 83,000 | |
| Other current assets | 55,000 | 17,000 | −12,000 | 34,000 | −8,000 | |
| Accounts payable-trade | −1 | 1 | −752,000 | −2 | 1 | |
| Accrued expenses and other liabilities | 126,000 | 322,000 | 462,000 | −2 | 743,000 | |
| Income taxes, net | 799,000 | −574,000 | 84,000 | 905,000 | 2 | |
| Other assets | −190,000 | −81,000 | −45,000 | 0 | −52,000 | |
| Operating lease liabilities | −3 | −4 | −4 | −3 | −3 | |
| Total adjustments | −10 | 4 | 769,000 | −73,000 | 2 | |
| Net cash (used in) provided by operating activities | −556,000 | 5 | 5 | 1 | 4 | |
| Purchase of property and equipment | −8 | −3 | −576,000 | −635,000 | −1 | |
| Proceeds from sales of Headquarters assets, net | 25 | 0 | 0 | 10,000 | 0 | |
| Net cash provided by (used in) investing activities | 17 | −3 | −576,000 | −625,000 | −1 | |
| Payment of finance lease obligations | 0 | −1,000 | −15,000 | −14,000 | −14,000 | |
| Dividend Paid | −13 | 0 | — | — | — | |
| Repurchase of common stock, net | −1 | 0 | −11,000 | −2 | −3 | |
| Net cash used in financing activities | −14 | −1,000 | −26,000 | −2 | −3 | |
| Effect of exchange rate changes on cash and cash equivalents | 120,000 | −452,000 | 249,000 | −538,000 | −112,000 | |
| Net increase in cash and cash equivalents | 3 | 1 | 4 | −2 | −174,000 | |
| Income tax paid during the period, net | 2 | 2 | 984,000 | −430,000 | −994,000 | |
| Operating lease assets obtained in exchange for lease liabilities, net | 18 | 5 | 3 | 4 | 2 |
Filings
Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro
Material Events
Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro
Insiders
Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro
Institutional Holders
Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro