ETDETHAN ALLEN INTERIORS INC

Wood Household Furniture, (no Upholstered)

Revenue: $579M; 5.7% YoY
Operating margin: 7.8%; 23% YoY
EBITDA: $60M; 22% YoY
Market cap: $518M
Employees: 2,137; $271K revenue each
Net debt / EBITDA: -1.2×; −$74M net debt
AI in 10-K: 2.8; mentions per 10K words

Takeover score 3 of 13

Fixable underperformance 0 of 7

TSR below peersNo
1 of 5 years
3+ of last 5 years
High CEO pay despite TSRNo
$4M median
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
132% of net income
Cash flow under 80% of net income
Dilutive SBCNo
0% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
97% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
4% of assets
Over 40% of assets
Shareholder dissentNo
94% lowest support
Any vote under 80% support

Buyer economics 2 of 4

Low revenue per employeeNo
$271K per employee
Bottom quartile of its SIC industry
Quiet on AINo
2.8 per 10K words · 67th pct
Bottom quartile of AI mentions in 10-Ks
Net cashYes
Net cash · 1.2× EBITDA
More cash than debt, positive EBITDA
Buyout-sizedYes
$518M market cap
Market cap $500M–$5B

Catalysts 1 of 2

Active 13DYes
1 filing
Active-intent 13D in 18 months
Net insider sellingNo
−$1M net
Net sales over $10M in 12 months

Financials

Metric	FY2022	FY2023	FY2024	FY2025	FY2026	YoY	Trend
Revenue	$818M	$791M	$646M	$615M	$579M	5.7%
Operating income	$138M	$137M	$78M	$62M	$45M	27%
Net income	$103M	$106M	$64M	$52M	$40M	23%
Operating cash flow	$69M	$101M	$80M	$62M	$52M	15%
Capex	$13M	$14M	$10M	$11M	$11M	2.0%
Stock-based comp	$1M	$1M	$1M	$2M	$1M	21%
Buybacks	$0	—	$0	$0	$5M
Dividends	$48M	$46M	$50M	$50M	$46M	7.6%

Deal filings

None.

13D filers

Filed	Filer	Form	Stake	Intent
Aug 27, 2026	DGB Investment, Inc.	SCHEDULE 13D/A	5.1%	Passive
Aug 5, 2026	DGB Investment, Inc.	SCHEDULE 13D	5.0%	Active

Insider trading

Open-market buys, 12 mo: $25K · 1
Open-market sells, 12 mo: $1M · 20
Net: −$1M

Pay vs performance

Year	CEO total comp	Comp actually paid	TSR (indexed)	Peer TSR
FY2026	$3M	$1M	81	94
FY2025	$4M	$3M	101	82
FY2024	$3M	$2M	101	64
FY2023	$4M	$6M	102	69
FY2022	$4M	$4M	73	71