Steelcase Inc. (SCS) Bundle
A Brief History of Steelcase Inc. (SCS)
Company Overview
Steelcase Inc. is headquartered in Grand Rapids, Michigan. Founded in 1912, the company is a global leader in office furniture and workspace solutions.
| Financial Metric | 2023 Value |
|---|---|
| Annual Revenue | $3.94 billion |
| Net Income | $183.6 million |
| Market Capitalization | $2.87 billion |
| Number of Employees | 12,000 |
Product Segments
- Furniture Solutions
- Commercial Interiors
- WorkSpace Future
Geographic Presence
| Region | Revenue Contribution |
|---|---|
| North America | 76.4% |
| EMEA | 15.2% |
| Asia Pacific | 8.4% |
Stock Performance
Ticker Symbol: SCS (NYSE) Trading Price as of January 2024: $38.12 52-Week Range: $32.47 - $44.78
Recent Strategic Initiatives
- Sustainability commitment
- Hybrid workspace design solutions
- Digital workplace technology integration
A Who Owns Steelcase Inc. (SCS)
Major Institutional Shareholders
| Vanguard Group Inc. | 12.4% ownership |
| BlackRock Inc. | 10.2% ownership |
| State Street Corporation | 6.7% ownership |
| Dimensional Fund Advisors LP | 5.3% ownership |
Insider Ownership
As of the latest filing, Steelcase insider ownership includes:
- James P. Keane (President and CEO): 0.5% ownership
- David C. Sylvester (CFO): 0.2% ownership
- Other executive officers: 1.1% combined ownership
Ownership Structure
Steelcase Inc. is a publicly traded company listed on the New York Stock Exchange under ticker symbol SCS. As of 2024, the company maintains a public float of approximately 86.3% of outstanding shares.
Top Institutional Investors
| Vanguard Total Stock Market Index Fund | 4.2% of total shares |
| BlackRock Equity Dividend Fund | 2.9% of total shares |
| State Street S&P 500 Index Fund | 2.3% of total shares |
Shareholder Composition
Total outstanding shares: 105.6 million
- Institutional investors: 68.5%
- Retail investors: 17.8%
- Insiders and directors: 1.8%
- Unaccounted/other: 11.9%
Steelcase Inc. (SCS) Mission Statement
Company Overview
Steelcase Inc. NYSE: SCS, headquartered in Grand Rapids, Michigan, reported total revenue of $3.61 billion in fiscal year 2023.
Mission Statement Components
Steelcase's mission focuses on creating innovative workplace environments that enhance human performance and organizational effectiveness.
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $3.61 billion |
| Net Income | $129.4 million |
| Global Employees | 11,500 |
Strategic Focus Areas
- Workplace design innovation
- Technology integration
- Sustainability solutions
- Human-centered workspace development
Key Performance Metrics
| Metric | 2023 Performance |
|---|---|
| Gross Margin | 37.2% |
| Operating Margin | 6.8% |
| Research & Development Investment | $118.3 million |
Global Market Presence
Steelcase operates in over 80 countries, with manufacturing facilities in the United States, United Kingdom, Germany, and China.
Sustainability Commitment
- Carbon reduction target: 50% by 2030
- Circular economy design approach
- 85% of products designed with recyclable materials
How Steelcase Inc. (SCS) Works
Company Overview
Steelcase Inc. is a global office furniture manufacturer headquartered in Grand Rapids, Michigan. Founded in 1912, the company operates in multiple countries and generates annual revenue of $3.1 billion as of 2023.
Business Segments
| Segment | Revenue Contribution | Primary Products |
|---|---|---|
| Americas | $1.89 billion | Office furniture, workspace solutions |
| EMEA (Europe, Middle East, Africa) | $687 million | Commercial furniture systems |
| Asia Pacific | $524 million | Workplace design products |
Product Portfolio
- Workspace furniture solutions
- Office chairs and seating
- Collaborative workspace technologies
- Interior architectural products
- Modular office systems
Financial Performance
As of Q4 2023, Steelcase reported:
- Net sales: $3.1 billion
- Gross margin: 35.2%
- Operating income: $122 million
- Market capitalization: $1.2 billion
Global Presence
| Region | Number of Facilities | Employee Count |
|---|---|---|
| North America | 12 manufacturing facilities | 6,500 employees |
| Europe | 5 manufacturing facilities | 2,300 employees |
| Asia Pacific | 3 manufacturing facilities | 1,200 employees |
Distribution Channels
- Direct sales team
- Authorized dealer network
- Online sales platform
- Commercial contract sales
Research and Development
Annual R&D investment: $98 million, representing 3.2% of total revenue.
Stock Information
NYSE ticker: SCS, trading at $10.45 per share as of January 2024, with a dividend yield of 3.1%.
How Steelcase Inc. (SCS) Makes Money
Revenue Streams
Steelcase Inc. generates revenue through the following primary segments:
| Segment | 2023 Revenue | Percentage of Total Revenue |
|---|---|---|
| Americas | $1.78 billion | 62.3% |
| EMEA (Europe, Middle East, Africa) | $524 million | 18.3% |
| Asia Pacific | $567 million | 19.4% |
Product Categories
Steelcase generates revenue through the following product lines:
- Workplace Furniture Solutions
- Office Chairs
- Workstations
- Conference Room Furniture
- Technology Integration Solutions
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $2.869 billion |
| Gross Profit | $1.002 billion |
| Net Income | $116.8 million |
| Gross Profit Margin | 34.9% |
Customer Segments
Steelcase serves multiple customer segments:
- Corporate Enterprises
- Educational Institutions
- Healthcare Organizations
- Government Agencies
- Small and Medium Businesses
Sales Channels
Revenue generation channels include:
- Direct Sales Team
- Dealer Network
- Online Sales Platform
- Commercial Design Partnerships
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