Virco MFG Corporation key statistics and ratios

In fiscal 2026, Virco MFG Corporation had return on equity of 2.4%, an operating margin of 1.8%, debt equal to 3.7% of equity and a current ratio of 3.09. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Virco MFG Corporation: financial ratios, annual
Fiscal year	2010Jan 2010	2011Jan 2011	2012Jan 2012	2013Jan 2013	2014Jan 2014	2015Jan 2015	2016Jan 2016	2017Jan 2017	2018Jan 2018	2019Jan 2019	2020Jan 2020	2021Jan 2021	2022Jan 2022	2023Jan 2023	2024Jan 2024	2025Jan 2025	2026Jan 2026	LTMJul 2026
Gross margin	32.1%	28.4%	28.9%	32.0%	33.9%	33.8%	35.4%	36.1%	34.6%	33.4%	37.1%	35.9%	33.0%	36.9%	43.1%	43.1%	40.7%	37.5%
Operating margin	—	—	—	−1.6%	−0.9%	1.4%	3.5%	3.4%	2.7%	1.2%	3.1%	0.5%	−0.2%	4.6%	11.8%	10.5%	1.8%	−2.5%
Net margin	−0.4%	−9.7%	−8.3%	−2.4%	−1.1%	0.5%	2.7%	13.1%	−1.7%	−0.8%	1.2%	−1.5%	−8.2%	7.2%	8.1%	8.1%	1.3%	−1.3%
Free-cash-flow margin	−4.3%	1.4%	−1.8%	3.3%	−2.5%	−1.0%	1.9%	0.8%	−2.4%	−1.5%	2.9%	3.7%	−1.8%	−3.1%	8.1%	10.1%	−3.4%	4.6%
Return on equity	−1.0%	−29.4%	−34.0%	−13.2%	−6.3%	3.4%	16.3%	49.1%	−5.4%	−2.8%	4.3%	−4.1%	−29.8%	28.7%	27.5%	21.6%	2.4%	−2.3%
Return on assets	—	−17.5%	−14.2%	−4.3%	−2.1%	1.0%	5.3%	23.0%	−2.9%	−1.3%	1.8%	−1.7%	−12.0%	12.0%	14.8%	12.8%	1.4%	−1.4%
Asset turnover	—	1.80	1.71	1.79	1.87	1.99	1.97	1.75	1.68	1.67	1.47	1.16	1.47	1.67	1.81	1.57	1.09	1.05
Current ratio	—	2.47	1.68	1.51	1.75	1.81	2.05	2.25	2.01	1.96	2.32	2.31	1.90	1.84	2.31	2.98	3.09	2.53
Debt to equity	0.0%	13.0%	37.2%	15.0%	29.9%	42.2%	20.3%	8.4%	28.4%	37.6%	30.5%	19.3%	30.6%	31.9%	4.8%	3.8%	3.7%	3.4%
Interest cover (operating income ÷ interest)	—	—	—	n/m	n/m	1.6x	4.6x	4.9x	3.3x	1.1x	2.4x	0.5x	n/m	5.4x	11.9x	79.8x	12.2x	n/m
Effective tax rate	—	—	—	—	—	7.5%	2.5%	—	—	—	12.7%	—	—	—	25.1%	23.9%	25.8%	—
SG&A as % of revenue	32.2%	32.5%	33.8%	33.2%	33.9%	32.1%	31.8%	32.6%	31.9%	32.3%	34.1%	35.5%	33.1%	32.3%	31.3%	32.6%	38.9%	40.0%
Capital spending as % of revenue	2.8%	1.7%	1.3%	1.3%	2.3%	2.0%	2.5%	2.5%	3.3%	2.7%	2.2%	1.4%	1.6%	1.4%	2.0%	2.4%	2.9%	1.7%
Free cash flow ÷ net income	—	—	—	—	—	−194.9%	71.4%	6.4%	—	—	232.7%	—	—	−43.0%	99.1%	124.0%	−260.7%	—
Dividends ÷ net income	—	—	—	—	—	0.0%	0.0%	—	—	—	0.0%	—	—	0.0%	1.5%	6.8%	61.4%	—
Dividends and buybacks ÷ free cash flow	—	71.9%	—	1.9%	—	—	6.3%	18.2%	—	—	4.4%	2.8%	—	—	1.5%	19.7%	—	20.0%

US$ thousands unless shown otherwise. Fiscal quarters.

Virco MFG Corporation: financial ratios, quarterly
Quarter	2025 Q3Oct 2024	2025 Q4Jan 2025	2026 Q1Apr 2025	2026 Q2Jul 2025	2026 Q3Oct 2025	2026 Q4Jan 2026	2027 Q1Apr 2026	2027 Q2Jul 2026
Gross margin	44.4%	26.2%	47.5%	44.4%	38.0%	23.9%	41.4%	40.0%
Operating margin	13.5%	−28.5%	−0.3%	16.7%	−3.6%	−37.9%	−11.9%	12.1%
Net margin	10.2%	−20.1%	2.2%	11.1%	−2.8%	−26.8%	−9.0%	9.8%
Free-cash-flow margin	37.5%	−32.4%	−63.6%	2.0%	51.5%	−44.3%	−32.8%	6.8%
Current ratio	2.88	2.98	3.02	2.96	3.98	3.09	2.71	2.53
Debt to equity	3.6%	3.8%	3.9%	3.5%	3.5%	3.7%	3.7%	3.4%
SG&A as % of revenue	30.9%	54.7%	47.7%	27.7%	41.5%	61.8%	53.3%	28.0%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

5 of 6 checks passed · July 31, 2026

What it owns · $192m

Short-term assets $123mLonger-term assets $70m

What it owes, and who funded it · $159m

Short-term liabilities $48mShareholders' equity $110m

Short-term assets cover short-term liabilities $123m of assets due within a year against $48m of liabilities due within a year.
Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
More cash than debt $9m of cash against $4m of debt.
Debt below 40% of shareholders' equity Debt is 3% of equity.
Debt burden no higher than five years ago Debt to equity moved from 30% to 3% over five years.
A year's operating cash flow covers at least 20% of debt $12m of operating cash flow against $4m of debt.
Operating profit covers interest at least five times over Operating income of −$5m against $311,000 of interest.

From Virco MFG Corporation's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

30 /100

Weak moat

How hard Virco MFG's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 0 / 20

Cash operating profit has been a median 2.3% of total assets over 10 years.
Pricing power 11 / 20

Gross margin has been a median 35.5%, moving by 3.6 percentage points (standard deviation) across 10 years.
Durability 0 / 20

Operating margin has been a median 2.3%; its worst year was -2.5%.
Cash conversion 6 / 20

Free cash flow was positive in 6 of 10 years, at a median 0.8% of revenue.
Discipline 17 / 20

The diluted share count fell 0.6% over five years; stock-based pay has been a median 0.4% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (35 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Virco MFG Corporation's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Virco MFG Corporation.