Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Virco MFG CorporationVIRC · manufacturing | |
|---|---|
| Grade |  B/Con the B/C boundary of 255 graded peers; percentile 40.2, sampling error 3.0 points; lower is stronger |
| Rank | 103 of 255 |
| Profitability | C/Dpercentile 57.1 |
| Solvency | A/Bpercentile 21.2 |
| Growth and financing | C/Dpercentile 59.4 |
| Reliability | 0.87 AUCfailure model, filers with $120M to $591M assets; 95% interval 0.83 to 0.90; 206 events, 2020 to 2025 |
| Peer failure rate | 1.03% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $120M to $591M assetstotal assets $174.2M[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none active · fortress balance sheetnot computable: short runway, distress |
| Inputs computable | 10 of 14 |
| Graded from | filings received through Apr 8, 2026184 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $6.532026-10-08; market equity $102.9M; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Apr 8, 2026; the document on sec.gov.
Designing, producing, and distributing high-value furniture for a diverse family of customers is a 76-year tradition at Virco Mfg. Corporation (“Virco” or the “Company”, or in the first person, “we”, “us” or “our”). Virco was incorporated in California in February 1950 and reincorporated in Delaware in April 1984. Virco started as a local manufacturer of chairs and desks for Los Angeles area schools, and over the years has become the largest manufacturer and supplier of movable educational furniture and equipment for the preschool through 12th grade market in the United States.
Warnings [top]
7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 57.1 | |||||||
| Gross profitability | 46.6% | [1,5] | 21.9% | 7.7 | 275 | 2026-01-31 | |
| Return on invested capital | not computable | 9.7% | |||||
| prior invested-capital observation is 731 days earlier | |||||||
| Accruals ratio | 1.9% | [1,6-8] | (3.6%) | 85.7 | 308 | 2026-01-31 | |
| Gross margin stability, five years | 3.9 pts | [2,5,9-16] | 2.1 pts | 78.1 | 229 | 2026-01-31 | |
| Solvency, sleeve percentile 21.2 | |||||||
| Twelve-month failure probability | not computable | 0.04% | |||||
| liabilities and a nearby cover-page share count are required at 2026-07-31 | |||||||
| Altman Z double-prime | not computable | 3.66 | |||||
| one or more required annual facts are missing | |||||||
| Net debt to EBITDA | (1.07x) | [3-4,17-18] | 1.78x | 6.7 | 121 | 2026-01-31 | |
| Interest coverage | 12.20x | [17,19] | 5.09x | 27.0 | 64 | 2026-01-31 | |
| Current ratio | 3.09x | [20-21] | 2.25x | 29.9 | 325 | 2026-01-31 | |
| Growth and financing, sleeve percentile 59.4 | |||||||
| Revenue growth, three-year compound | (4.8%) | [2,10,12,14] | 2.1% | 81.3 | 269 | 2026-01-31 | |
| Free cash flow growth, three-year compound | not computable | 13.9% | |||||
| current FCF must be positive and base FCF must exceed $100,000 | |||||||
| Reinvestment rate | (53.0%) | [17-18,20-26] | 26.4% | 89.1 | 139 | 2026-01-31 | |
| Asset growth, three years | 5.1% | [1,8,27-28] | 4.4% | 43.5 | 279 | 2026-01-31 | |
| Net share issuance, one year | (2.0%) | [29-30] | 0.01% | 23.6 | 243 | 2026-04-06 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite -0.095; sampling error 3.0 percentile points on 255 peers.
Among 255 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 98 | Advanced Drainage Systems, Inc. (WMS) Advanced Drainage Systems, Inc. (WMS) B/Con the B/C boundary; percentile 38.2 NYSE · Plastics Foam Products market equity $9.5B; last close $126.22 No active warnings; 12 of 14 inputs | 38.2 | B/C | |
| 99 | United States Antimony Corp. (UAMY) United States Antimony Corp. (UAMY) B/Con the B/C boundary; percentile 38.6 NYSE · Primary Smelting & Refining of Nonferrous Metals market equity $556.8M; last close $3.71 Warnings: dilution, fortress balance sheet; 9 of 14 inputs | 38.6 | B/C | dilution, fortress balance sheet |
| 100 | Gibraltar Industries, Inc. (ROCK) Gibraltar Industries, Inc. (ROCK) B/Con the B/C boundary; percentile 39.0 Nasdaq · Steel Works, Blast Furnaces & Rolling & Finishing Mills market equity $1.1B; last close $37.45 Warnings: fortress balance sheet; 11 of 14 inputs | 39.0 | B/C | fortress balance sheet |
| 101 | Lightwave Logic, Inc. (LWLG) Lightwave Logic, Inc. (LWLG) B/Con the B/C boundary; percentile 39.4 Nasdaq · Miscellaneous Plastics Products market equity $787.8M; last close $5.13 No active warnings; 7 of 14 inputs | 39.4 | B/C | |
| 102 | OIL States International, Inc. (OIS) OIL States International, Inc. (OIS) B/Con the B/C boundary; percentile 39.8 NYSE · Oil & Gas Field Machinery & Equipment market equity $494.6M; last close $8.19 Warnings: fortress balance sheet; 9 of 14 inputs | 39.8 | B/C | fortress balance sheet |
| 103 | Virco MFG Corporation (VIRC) Virco MFG Corporation (VIRC) B/Con the B/C boundary; percentile 40.2 Nasdaq · Public Bldg & Related Furniture market equity $102.5M; last close $6.53 Warnings: fortress balance sheet; 10 of 14 inputs | 40.2 | B/C | fortress balance sheet |
| 104 | Bloom Energy Corp. (BE) Bloom Energy Corp. (BE) B/Con the B/C boundary; percentile 40.6 NYSE · Electrical Industrial Apparatus market equity $77.6B; last close $272.74 No active warnings; 9 of 14 inputs | 40.6 | B/C | |
| 105 | Generac Holdings Inc. (GNRC) Generac Holdings Inc. (GNRC) B/Con the B/C boundary; percentile 40.9 NYSE · Motors & Generators market equity $13.2B; last close $224.50 No active warnings; 12 of 14 inputs | 40.9 | B/C | |
| 106 | Friedman Industries Inc. (FRD) Friedman Industries Inc. (FRD) B/Con the B/C boundary; percentile 41.3 Nasdaq · Steel Works, Blast Furnaces & Rolling & Finishing Mills market equity $301.9M; last close $43.02 No active warnings; 8 of 14 inputs | 41.3 | B/C | |
| 107 | Standex International (SXI) Standex International (SXI) B/Con the B/C boundary; percentile 41.7 NYSE · Refrigeration & Service Industry Machinery market equity $3.4B; last close $281.47 No active warnings; 12 of 14 inputs | 41.7 | B/C | |
| 108 | Azenta, Inc. (AZTA) Azenta, Inc. (AZTA) B/Con the B/C boundary; percentile 42.1 Nasdaq · Special Industry Machinery, NEC market equity $1.6B; last close $36.00 Warnings: late filer, fortress balance sheet; 7 of 14 inputs | 42.1 | B/C | late filer, fortress balance sheet |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | B | 34.4 | 2204 |
| sector peers, equal sleeves (the grade) | B/C | 40.2 | 255 |
| same exchange, equal sleeves | B | 33.7 | 1219 |
| sector peers, equal inputs | C | 46.5 | 255 |
Each letter is one fifth of the 255 graded peers, about 51 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | (22.0%) | 13.7% | 14 | hotter than 14 of 100 peers |
| Distance from 52-week high | (13.0%) | (24.3%) | 78 | closer to its high than 78 of 100 peers |
| EBIT to enterprise value | 4.0% | 4.1% | 49 | pricier than 51 of 100 peers |
| Free cash flow yield | (6.5%) | 3.4% | 12 | pricier than 88 of 100 peers |
| Book value to price | 1.08 | 0.34 | 92 | pricier than 8 of 100 peers |
| Sales to price | 1.95 | 0.54 | 85 | pricier than 15 of 100 peers |
| Composite equity issuance, five years | (4.0%) | (9.5%) | 57 | more equity-funded than 57 of 100 peers |
| Relative strength against the sector, log excess return | (0.38) | (0.00) | 14 | ahead of 14 of 100 peers |
Inputs: market equity $102.5M; EBIT $3.7M; free cash flow -$6.7M; book equity $110.5M; sales $199.7M; debt $3.7M; cash $14.4M[31].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: 4 of 9, period end 2026-01-31 | ||
|---|---|---|
| Return on assets above zero | 1.3% | ✓ pass[6,8] |
| Operating cash flow above zero | -$841,000 | ✗ fail[7] |
| Return on assets improved | (13.4 pts) | ✗ fail[6,8,27,32] |
| Operating cash flow exceeds net income | -$3.4M | ✗ fail[6-7] |
| Long-term leverage fell | (0.3 pts) | ✓ pass[1,8,27,33-34] |
| Current ratio improved | 10.6 pts | ✓ pass[20-21,25-26] |
| No new shares issued | (2.0%) | ✓ pass[29-30] |
| Gross margin improved | (2.4 pts) | ✗ fail[2,5,9-10] |
| Asset turnover improved | (77.8 pts) | ✗ fail[2,8,10,27] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | n/a |
| Operating cash flow, four quarters | n/a[7,35-38] |
| Months of runway | not finite |
| cash is missing at the end of the latest cash-flow quarter | |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 35 |
| 10-Q received Sep 4, 2026 | |
| Median daily dollar volume | $125,073 |
| 63 sessions | |
| Days since newest grade input | 184 |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $174.2M | 2026-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $199.7M | 2026-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 3 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $14.4M | 2026-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 4 | total debt | us-gaap:LongTermDebt | $3.9M | 2026-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 5 | gross profit | us-gaap:GrossProfit | $81.2M | 2026-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 6 | net income | us-gaap:NetIncomeLoss | $2.6M | 2026-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 7 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$841,000 | 2026-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 8 | assets | us-gaap:Assets | $191.9M | 2025-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 9 | gross profit | us-gaap:GrossProfit | $114.7M | 2025-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 10 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $266.2M | 2025-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 11 | gross profit | us-gaap:GrossProfit | $116.1M | 2024-01-31 | 2025-04-14 | 10-K | filing · viewer · series |
| 12 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $269.1M | 2024-01-31 | 2025-04-14 | 10-K | filing · viewer · series |
| 13 | gross profit | us-gaap:GrossProfit | $85.3M | 2023-01-31 | 2024-04-12 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $231.1M | 2023-01-31 | 2024-04-12 | 10-K | filing · viewer · series |
| 15 | gross profit | us-gaap:GrossProfit | $60.9M | 2022-01-31 | 2023-04-28 | 10-K | filing · viewer · series |
| 16 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $184.8M | 2022-01-31 | 2023-04-28 | 10-K | filing · viewer · series |
| 17 | operating income | us-gaap:OperatingIncomeLoss | $3.7M | 2026-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 18 | depreciation amortization | us-gaap:DepreciationDepletionAndAmortization | $6.1M | 2026-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 19 | interest expense | us-gaap:InterestExpense | $300,000 | 2026-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 20 | current assets | us-gaap:AssetsCurrent | $98.7M | 2026-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 21 | current liabilities | us-gaap:LiabilitiesCurrent | $32.0M | 2026-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 22 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $5.9M | 2026-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 23 | pretax income | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | $3.5M | 2026-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 24 | income tax | us-gaap:IncomeTaxExpenseBenefit | $895,000 | 2026-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 25 | current assets | us-gaap:AssetsCurrent | $102.2M | 2025-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 26 | current liabilities | us-gaap:LiabilitiesCurrent | $34.3M | 2025-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 27 | assets | us-gaap:Assets | $146.4M | 2024-01-31 | 2025-04-14 | 10-K | filing · viewer · series |
| 28 | assets | us-gaap:Assets | $150.1M | 2023-01-31 | 2024-04-12 | 10-K | filing · viewer · series |
| 29 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 15,761,141 | 2026-04-06 | 2026-04-08 | 10-K | filing · viewer · series |
| 30 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 16,087,082 | 2025-04-08 | 2025-04-14 | 10-K | filing · viewer · series |
| 31 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 15,763,815 | 2026-09-04 | 2026-09-04 | 10-Q | filing · viewer · series |
| 32 | net income | us-gaap:NetIncomeLoss | $21.6M | 2025-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 33 | long term debt | us-gaap:LongTermDebtNoncurrent | $3.6M | 2026-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 34 | long term debt | us-gaap:LongTermDebtNoncurrent | $3.9M | 2025-01-31 | 2026-04-08 | 10-K | filing · viewer · series |
| 35 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$2.8M | 2026-07-31 | 2026-09-04 | 10-Q | filing · viewer · series |
| 36 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$9.4M | 2026-04-30 | 2026-06-03 | 10-Q | filing · viewer · series |
| 37 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $10.0M | 2025-10-31 | 2025-12-08 | 10-Q | filing · viewer · series |
| 38 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$15.8M | 2025-07-31 | 2026-09-04 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 40.2 is 0.2 points from the nearest band edge; sampling error is 3.0 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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