Steelcase Inc. (SCS): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico do design do local de trabalho, a Steelcase Inc. é uma força transformadora, reimaginando como as organizações criam, colaboram e inovam por meio de soluções inteligentes de espaço de trabalho. Ao misturar perfeitamente design ergonômico de ponta, integração tecnológica e sustentabilidade, a Steelcase desenvolveu um modelo de negócios sofisticado que vai muito além da fabricação tradicional de móveis. Sua abordagem abrangente atende às necessidades em evolução das empresas modernas, desde startups de tecnologia até instituições globais de saúde, posicionando -as como parceiro estratégico na transformação do local de trabalho, em vez de apenas um fornecedor de móveis.

Steelcase Inc. (SCS) - Modelo de Negócios: Principais Parcerias

Alianças estratégicas em colaboração de design

A Steelcase mantém parcerias estratégicas com os principais players do setor para aprimorar o design e a inovação do espaço de trabalho.

Parceiro	Foco em parceria	Detalhes da colaboração
Herman Miller	Inovação de design	Projetos conjuntos de pesquisa e desenvolvimento de espaço de trabalho
Haworth	Soluções ergonômicas	Estudos de ergonomia do local de trabalho colaborativos

Ecossistema de Parceria Tecnológica

O Steelcase colabora com as empresas de tecnologia para desenvolver soluções integradas no espaço de trabalho.

• Microsoft Surface Collaboration for Digital Workspace Integration
• Zoom Partnership for Hybrid Workplace Technology
• Projeto de compatibilidade do espaço de trabalho do Google

Relacionamentos globais de fornecedores

Categoria de fornecedores	Número de fornecedores	Valor anual de compras
Fornecedores de matérias -primas	87	US $ 412 milhões
Fabricantes de materiais internacionais	43	US $ 276 milhões

Colaborações acadêmicas e de pesquisa

A Steelcase faz parceria com instituições acadêmicas para pesquisa de inovação no local de trabalho.

• Programa de Pesquisa em Design de Trabalho da Universidade de Michigan
• MIT Media Lab Future Workspace Technologies Collaboration
• Estudos de projeto ergonômico da Universidade Carnegie Mellon

Investimento total de parceria em 2023: US $ 18,7 milhões

Steelcase Inc. (SCS) - Modelo de negócios: Atividades -chave

Design de móveis de escritório comercial e fabricação

Receita anual do Design e Fabricação de Móveis: US $ 3,1 bilhões (2023 ano fiscal)

Categoria de produto	Volume anual de produção	Instalações de fabricação
Estações de trabalho	275.000 unidades	Grand Rapids, MI
Cadeiras	425.000 unidades	Kentwood, MI
Móveis de conferência	95.000 unidades	México

Desenvolvimento de solução de espaço de trabalho personalizado

Receita de soluções de espaço de trabalho personalizado: US $ 612 milhões (2023)

• Valor médio do projeto: $ 185.000
• Número de projetos de espaço de trabalho personalizados concluídos anualmente: 3.300
• Equipe de design global: 475 designers profissionais

Serviços de consultoria de estratégia no local de trabalho

Receita dos Serviços de Consultoria: US $ 87,4 milhões (2023)

Tipo de serviço de consultoria	Engajamentos anuais de clientes	Duração média do engajamento
Transformação do local de trabalho	520 clientes	4-6 meses
Gerenciamento de mudanças	340 clientes	3-4 meses

Transformação digital de ambientes no local de trabalho

Receita de soluções digitais: US $ 142,6 milhões (2023)

• Patentes de tecnologia no local de trabalho digital: 38
• Equipe de desenvolvimento de software: 124 engenheiros
• Investimento anual em inovação digital: US $ 26,3 milhões

Sustentabilidade e inovação de produtos ergonômicos

Investimento de P&D em sustentabilidade: US $ 41,2 milhões (2023)

Métrica de sustentabilidade	2023 desempenho
Materiais reciclados usados	42% do total de materiais
Redução de emissões de carbono	Redução de 22% desde 2018
Linhas de produtos ergonômicos	7 famílias de produtos ergonômicos certificados

Steelcase Inc. (SCS) - Modelo de negócios: Recursos -chave

Instalações de fabricação avançadas

A Steelcase opera 9 instalações de fabricação globalmente, com os principais locais em:

Localização	Tipo de instalação	Capacidade de fabricação
Grand Rapids, Michigan	Sede primária	480.000 pés quadrados
México	Produção regional	250.000 pés quadrados
China	Fabricação da Ásia-Pacífico	200.000 pés quadrados

Portfólio de propriedade intelectual

Steelcase mantém uma robusta estratégia de propriedade intelectual:

• Total de patentes ativas: 327
• Patentes de design: 215
• Patentes de utilidade: 112

Recursos de capital humano

Composição da força de trabalho a partir de 2023:

Categoria de funcionários	Número de funcionários
Total de funcionários	12,400
Engenheiros de design	387
Especialistas em P&D	256

Infraestrutura de pesquisa e desenvolvimento

Detalhes do investimento em P&D:

• Despesas anuais de P&D: US $ 67,3 milhões
• Instalações de P&D: 3 centros de inovação dedicados
• Inovações anuais de produtos: 42 lançamentos de novos produtos

Rede de distribuição global

Estatísticas de rede de distribuição:

Região	Centros de distribuição	Canais de vendas diretas
América do Norte	12	87
Europa	6	42
Ásia-Pacífico	5	35

Steelcase Inc. (SCS) - Modelo de Negócios: Proposições de Valor

Soluções abrangentes no local de trabalho para organizações modernas

A Steelcase Inc. gerou US $ 3,41 bilhões em receita para o ano fiscal de 2023. A empresa oferece soluções no local de trabalho em vários segmentos:

Segmento	Contribuição da receita
Américas	US $ 2,16 bilhões
EMEA (Europa, Oriente Médio, África)	US $ 748 milhões
Ásia -Pacífico	US $ 506 milhões

Designs de móveis ergonômicos e adaptáveis

A Steelcase investiu US $ 86,4 milhões em pesquisa e desenvolvimento em 2023, com foco em inovações ergonômicas.

• O design da cadeira de Leap suporta 97% dos movimentos corporais
• A cadeira de gesto acomoda 9 posturas diferentes
• Mesas ajustáveis ​​na altura reduzem o tempo de trabalho sedentário em até 50%

Produtos de espaço de trabalho integrados para tecnologia

Integração de tecnologia	Exemplos de produtos
Tecnologia colaborativa	Voar quadro branco digital
Móveis inteligentes	Workspring conectado espaço de trabalho

Linhas de produtos sustentáveis ​​e ambientalmente conscientes

Métricas de sustentabilidade para 2023:

• 42% dos produtos contêm materiais reciclados
• Emissões reduzidas de carbono em 22% em comparação com a linha de base de 2018
• 90% da madeira proveniente de florestas sustentáveis ​​certificadas

Sistemas de móveis personalizáveis ​​para diversos ambientes de trabalho

Remoção de portfólio de soluções personalizadas:

Tipo de ambiente	Faixa de personalização
Escritórios corporativos	85% soluções configuráveis
Espaços de educação	72% designs adaptáveis
Instalações de saúde	65% de configurações especializadas

Steelcase Inc. (SCS) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento da equipe de vendas diretas com clientes corporativos

A partir de 2024, a Steelcase mantém uma equipe global de vendas diretas de 1.287 representantes de vendas profissionais que visam clientes corporativos em vários setores. A equipe de vendas abrange 47 países, com foco em clientes em nível corporativo.

Métrica da equipe de vendas	2024 dados
Total de representantes de vendas	1,287
Países cobertos	47
Valor médio do cliente corporativo	US $ 1,4 milhão

Ferramentas de suporte e configuração online

O Steelcase fornece plataformas abrangentes de suporte ao cliente digital com os seguintes recursos:

• Sistema de configuração de produto online 24/7
• Rastreamento de inventário em tempo real
• Ferramentas de visualização de design personalizadas
• Plataforma de geração de cotação digital

Métrica de plataforma online	2024 Performance
Usuários anuais da plataforma digital	78,543
Transações de configuração online	42,876
Duração média da sessão do usuário	17,5 minutos

Abordagem de parceria estratégica de longo prazo

A Steelcase desenvolve parcerias estratégicas com os principais clientes corporativos, com foco em modelos de engajamento de vários anos.

Métrica de Parceria	2024 dados
Clientes de parceria estratégica	276
Duração média da parceria	5,3 anos
Receita recorrente de parcerias	US $ 387,6 ​​milhões

Serviços de consulta de design profissional

A Steelcase oferece serviços de consulta de design especializados com especialistas em estratégia de trabalho dedicados.

• Consulta de estratégia no local de trabalho
• Análise de projeto ergonômico
• Recomendações de otimização de espaço
• Planejamento de integração de tecnologia

Métrica do Serviço de Consulta	2024 Performance
Consultores de design total	214
Projetos de consulta concluídos	1,876
Valor médio do projeto	$98,500

Treinamento do cliente e suporte de implementação

O Steelcase fornece suporte abrangente de treinamento e implementação para clientes corporativos.

Métrica de suporte ao treinamento	2024 dados
Programas de treinamento oferecidos	37
Total de treinamento participantes	6,543
Módulos de treinamento digital	24

Steelcase Inc. (SCS) - Modelo de Negócios: Canais

Força de vendas direta

A Steelcase mantém uma equipe de vendas direta dedicada de 1.200 profissionais de vendas a partir de 2023. A força de vendas cobre várias regiões geográficas, incluindo América do Norte, Europa e Ásia -Pacífico.

Região	Representantes de vendas	Área de cobertura
América do Norte	650	Estados Unidos e Canadá
Europa	350	Países da União Europeia
Ásia -Pacífico	200	China, Japão, Austrália

Site corporativo e plataforma de comércio eletrônico

A plataforma digital da Steelcase gera aproximadamente US $ 75 milhões em vendas anuais on -line. O site recebe 2,3 milhões de visitantes únicos mensalmente.

• Tráfego do site: 2,3 milhões de visitantes mensais
• Vendas on -line: US $ 75 milhões anualmente
• Catálogo de produtos: mais de 5.000 soluções de escritório configuráveis

Redes de revendedores autorizados

A Steelcase opera através de 750 revendedores autorizados em todo o mundo, representando 65% da receita total da empresa.

Tipo de revendedor	Número de revendedores	Contribuição da receita
Revendedores de móveis comerciais	550	45%
Revendedores arquitetônicos	150	15%
Revendedores especializados no local de trabalho	50	5%

Feira de feira e participação no evento do setor

O Steelcase participa de 35 feiras internacionais anualmente, gerando aproximadamente US $ 50 milhões em leads de vendas diretas.

Demonstrações de marketing digital e produtos virtuais

Os canais de marketing digital geram 40% dos leads de vendas, com demonstrações de produtos virtuais atingindo 500.000 clientes em potencial anualmente.

• Orçamento de marketing digital: US $ 12,5 milhões
• Alcance de demonstração virtual: 500.000 clientes em potencial
• Seguidores de mídia social: 250.000 entre plataformas

Steelcase Inc. (SCS) - Modelo de negócios: segmentos de clientes

Grandes empresas corporativas

A Steelcase atende a 44% das empresas da Fortune 500 a partir de 2023. Receita anual de clientes corporativos: US $ 2,3 bilhões.

Aparelhamento do segmento corporativo	Percentagem	Gastos anuais
Empresas de tecnologia	22%	US $ 512 milhões
Serviços financeiros	18%	US $ 414 milhões
Serviços profissionais	15%	US $ 345 milhões

Empresas de tecnologia e startups

Segmento de clientes representando 22% da receita total da Steelcase, com gastos anuais de US $ 512 milhões.

• Clientes do Vale do Silício: 35% do segmento de tecnologia
• Hubs de tecnologia emergentes: 65% do segmento de tecnologia

Instituições educacionais

O mercado educacional contribui com US $ 276 milhões em receita anual, representando 12% do total de negócios.

Segmento educacional	Investimento anual
Ensino superior	US $ 198 milhões
Instituições K-12	US $ 78 milhões

Organizações de saúde

O segmento de saúde gera US $ 345 milhões, representando 15% da receita da Steelcase.

• Hospitais: 65% do mercado de saúde
• Centros de pesquisa médica: 22% do mercado de saúde
• Clínicas e cuidados ambulatoriais: 13% do mercado de saúde

Agências do governo e do setor público

O setor público representa 9% da receita total, gerando US $ 207 milhões anualmente.

Segmento do governo	Percentagem	Receita anual
Agências federais	5%	US $ 115 milhões
Governos estaduais/locais	4%	US $ 92 milhões

Steelcase Inc. (SCS) - Modelo de negócios: estrutura de custos

Altas despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Steelcase investiu US $ 46,3 milhões em despesas de pesquisa e desenvolvimento, representando 2,4% do total de vendas líquidas.

Ano fiscal	Despesas de P&D	Porcentagem de vendas líquidas
2023	US $ 46,3 milhões	2.4%
2022	US $ 43,1 milhões	2.2%

Custos de fabricação e produção

Os custos totais de fabricação e produção para Steelcase em 2023 foram de US $ 1,2 bilhão, com os principais componentes de custo, incluindo:

• Despesas de matéria -prima: US $ 512 milhões
• Custos de mão -de -obra direta: US $ 287 milhões
• Manufatura de sobrecarga: US $ 401 milhões

Distribuição global e logística

As despesas de distribuição e logística de Steelcase em 2023 totalizaram US $ 214,6 milhões, representando 11,2% do total de vendas líquidas.

Região	Despesas de logística	Porcentagem de total
América do Norte	US $ 156,3 milhões	72.8%
EMEA	US $ 38,7 milhões	18.0%
Ásia -Pacífico	US $ 19,6 milhões	9.2%

Investimentos de vendas e marketing

A Steelcase alocou US $ 287,5 milhões às despesas de vendas e marketing em 2023, responsáveis ​​por 15% do total de vendas líquidas.

Compensação e benefícios da força de trabalho

A compensação total da força de trabalho e os benefícios para o Steelcase em 2023 totalizaram US $ 623,4 milhões.

Categoria de compensação	Quantia
Salários da base	US $ 412,6 milhões
Bônus de desempenho	US $ 87,3 milhões
Benefícios dos funcionários	US $ 123,5 milhões

Steelcase Inc. (SCS) - Modelo de negócios: fluxos de receita

Vendas de produtos de móveis comerciais

No ano fiscal de 2023, a Steelcase registrou vendas líquidas totais de US $ 3,44 bilhões. Repartição de vendas de produtos:

Categoria de produto	Receita	Percentagem
Soluções no local de trabalho	US $ 2,18 bilhões	63.4%
Soluções educacionais	US $ 678 milhões	19.7%
Soluções de saúde	US $ 584 milhões	17%

Serviços de design de espaço de trabalho personalizado

Os serviços de design personalizados geraram aproximadamente US $ 215 milhões em receita adicional para 2023.

Suporte de consulta e implementação

• Receita dos Serviços de Consulta: US $ 92 milhões
• Taxas de suporte de implementação: US $ 64 milhões

Contratos de manutenção e atualização recorrentes

Receita recorrente anual de contratos de manutenção: US $ 127 milhões

Assinaturas de solução de espaço de trabalho digital

Solução digital	Receita de assinatura
Plataforma do Workplace Insights	US $ 43 milhões
Ferramentas de gerenciamento de espaço digital	US $ 37 milhões

Steelcase Inc. (SCS) - Canvas Business Model: Value Propositions

You're looking at the core value Steelcase Inc. delivers to its customers as of late 2025. It's a mix of physical product, strategic insight, and operational scale.

Integrated workspace solutions for hybrid work environments

Steelcase Inc. provides solutions designed for the reality of work today, where employees split time between the office and home. This focus is reflected in their order growth, especially in the Americas segment. For fiscal 2025, which ended February 28, 2025, Steelcase Inc. recorded total revenue of approximately $3.2 billion. The Americas segment showed resilience, with orders growing 6 percent in fiscal 2025 compared to the prior year, and organic revenue increasing 2 percent in that same period. This contrasts with the International segment, which saw a 5 percent reported revenue decrease in fiscal 2025.

The momentum continued into the first quarter of fiscal 2026, where organic revenue grew 7 percent overall, driven by 9 percent organic growth in the Americas. You can see the scale of their operations and customer concentration below:

Metric	Value (FY2025)	Context
Total Revenue	$3,166.0 million	Fiscal Year 2025
Operating Income Margin	5.0 percent	Fiscal Year 2025
Largest Customer Revenue Share	2 percent	Consolidated Revenue
Top Five Customer Revenue Share	6 percent	Consolidated Revenue
U.S. Federal Government Revenue Share	3 percent	Consolidated Revenue

Thought leadership in the future of work and design

Steelcase Inc. positions itself as a source of research and insight, not just a manufacturer. This thought leadership supports the sale of their integrated solutions. Their purpose is to help the world work better, and they back this up with community and design initiatives. For example, they initiated seventy-two projects globally to encourage employee volunteering in fiscal 2025. Furthermore, employees initiated 186 community partnerships across 35 locations globally during that same fiscal year.

High-quality, durable, and ergonomic furniture products

Quality and durability are key, especially when backed by service programs. The company's financial performance in fiscal 2025 showed improved profitability, with operating income reaching $158.1 million, an increase of $40.3 million from fiscal 2024. Gross margin improved by 110 basis points in fiscal 2025 compared to the prior year, which reflects cost reduction initiatives alongside product value. The first quarter of fiscal 2026 saw gross margin hit 33.9 percent, an improvement of 170 basis points year-over-year.

Commitment to sustainability via Circular by Steelcase services

The value proposition includes helping customers meet their own environmental targets. Steelcase Inc. offers Circular by Steelcase, which includes remanufacturing select task seating that comes with a 12-year warranty, giving the product a second life. The company's 2025 Impact Report highlights significant environmental progress:

• Scope 1 and 2 emissions reduced by 31 percent since FY2020.
• Scope 3 emissions reduced by 37 percent since FY2020.
• Recycled content in single-use packaging is at 43 percent.
• Over 15,000 CarbonNeutral® certified products purchased by customers since FY2023.
• These purchases avoided more than 2,400 metric tons of CO₂e emissions.
• The recycled content in their highest-performing task chairs has been doubled.

To be fair, the Eco'Services program in France, a precursor to the broader circular offerings, diverted 3,600 tons of furniture from landfills back in 2023. Charitable giving totaled $10.4 million in FY2025.

Global consistency and scale for multinational customers

Serving large, multinational customers requires a broad footprint. Steelcase Inc. operates through a global community of expert dealers in approximately 790 locations. The company's total liquidity strengthened by $73 million in fiscal 2025, ending the year at $558.3 million as of February 28, 2025, with total debt at $447.1 million and no principal repayment due until 2029. For fiscal 2025, the company recorded net income of $120.7 million, translating to diluted earnings per share of $1.02.

Steelcase Inc. (SCS) - Canvas Business Model: Customer Relationships

You're looking at how Steelcase Inc. manages its connections with the people buying its workplace solutions, which is a mix of direct engagement and deep channel partnership. This relationship structure is key, especially as the company navigates the post-pandemic work environment.

Dedicated sales force for large corporate accounts (direct sales)

Steelcase Inc. maintains a direct sales presence that complements its dealer network, focusing heavily on major clients. In fiscal year 2025, sales to U.S. federal government agencies made up about 3% of the company's total revenue. The company does not see its business as dependent on any single customer, as the largest single customer accounted for only approximately 2% of consolidated revenue in fiscal 2025. The five largest customers collectively represented about 6% of consolidated revenue for the same period. Order growth in the fourth quarter of fiscal 2025 reflected strength from large corporate customers, government, small and midsize businesses, and healthcare clients.

Long-term relationships with independent Steelcase dealers

The dealer network is the backbone of Steelcase Inc.'s go-to-market strategy, representing a relationship built over decades. Steelcase and its dealers have operated in an aligned model for 80 years, with the oldest partnership dating back to 1922. As of early 2025, the company's solutions came to life through a community of expert dealers in approximately 770 locations globally. The Americas segment relies on about 390 independent and company-owned dealer locations, while the International segment uses approximately 400 such locations. Steelcase sales representatives work closely with these dealers throughout the selling process, blending corporate reach with local execution.

Dealer concentration metrics for fiscal 2025 show the following:

Segment	Largest Single Dealer (% of Segment Revenue)	Top Five Dealers (% of Segment Revenue)
Americas	6%	15%
International	4%	10%

For the consolidated business in fiscal 2025, no single independent Steelcase dealer accounted for more than 4% of consolidated revenue, and the five largest dealers collectively accounted for about 11% of consolidated revenue.

Self-service and transactional sales via e-commerce (store.steelcase.com)

Transactional sales are supported through the online Steelcase store, which is mentioned as one of the channels through which solutions come to life, alongside the dealer community and other retail partners. Specific revenue contribution from store.steelcase.com for fiscal 2025 is not publicly itemized separately from other sales channels.

Consultative selling model for complex projects

The consultative approach is evident through the specialized services offered, often facilitated by the dealer network but backed by Steelcase Inc.'s expertise. Steelcase Financial Services acts as the only captive finance company in the industry, offering financing options designed to fit client needs at competitive below-market rates. The dealer network provides a portfolio of workplace services to help navigate the entire process, which includes:

• Workplace Consulting
• Space Planning
• Project Coordination
• Installation
• Warranty Service

Transparency in service delivery is supported by real-time monitoring capabilities, allowing clients to view furniture quotes, purchase order status, delivery schedules, and historical spend reports via a customized portal integrated with the Steelcase dealer business system. Finance: draft 13-week cash view by Friday.

Steelcase Inc. (SCS) - Canvas Business Model: Channels

You're mapping out the distribution strategy for Steelcase Inc. (SCS), and honestly, their channel mix is heavily weighted toward expert partners, though direct engagement with large clients is key for major deals. Here's the breakdown of how Steelcase Inc. gets its products and services to the end-user as of their Fiscal Year 2025 results.

The primary route to market is through a vast, established physical presence. Steelcase Inc. supports its solutions through a global community of expert Steelcase dealers in approximately 790 locations. This network is crucial for localized service and project execution. The Americas segment, which is the powerhouse contributing 77.9% of the consolidated revenue for fiscal 2025, relies heavily on this structure. For the International segment (EMEA and Asia Pacific), this distribution is managed through approximately 400 independent and company-owned Steelcase dealer locations, alongside other non-aligned dealers in certain markets. The total annual revenue for fiscal 2025 was $3.17 billion, which gives context to the scale of these channels.

Direct sales remain a significant component, especially for large accounts. Steelcase Inc. sells directly to end-use customers, which are often large multinational or regional companies across sectors like financial services, healthcare, and flexible real estate. For instance, sales to U.S. federal government agencies alone represented approximately 3% of consolidated revenue in 2025. The company does not appear dependent on any single customer, as the largest single customer accounted for only about 2% of consolidated revenue in 2025.

The digital channel is present but operates alongside the physical network. Steelcase Inc. uses its e-commerce platform, store.steelcase.com, along with other retail partners, to serve customers. While the specific revenue contribution isn't broken out in the latest filings, its inclusion shows a commitment to multi-channel access.

To be fair, you need to look at the concentration risk within the dealer channel itself. While the overall network is broad, the top dealers represent a notable portion of sales within their respective segments. Here's the quick math on dealer concentration for fiscal 2025:

Dealer Group Concentration	Consolidated Revenue (FY2025)	Americas Segment Revenue (FY2025)	International Segment Revenue (FY2025)
Largest Single Independent Dealer	Not more than 4%	Approximately 6% of segment revenue	Approximately 4% of segment revenue
Five Largest Independent Dealers (Collective)	Approximately 11% of consolidated revenue	Approximately 15% of segment revenue	Approximately 10% of segment revenue

The reliance on the dealer network is clear, but Steelcase Inc. manages this by ensuring no single dealer holds too much leverage over the total business. The five largest independent dealers collectively accounted for approximately 11% of consolidated revenue in 2025. This distribution strategy helps maintain a consistent experience for global clients while allowing for local differentiation.

The key elements of the channel strategy as of late 2025 include:

• Global network of expert Steelcase dealers in approximately 790 locations.
• Direct sales to large end-use customers, including 3% from U.S. federal agencies in 2025.
• E-commerce platform (store.steelcase.com) and other retail partners.
• Use of non-aligned dealers in certain regions, particularly in the International segment.
• The five largest independent dealers account for 11% of total consolidated revenue.

Finance: draft 13-week cash view by Friday.

Steelcase Inc. (SCS) - Canvas Business Model: Customer Segments

You're looking at the core customer base for Steelcase Inc. (SCS) as of late 2025, trying to map where their $3.17 billion in total annual revenue for the fiscal year ending February 2025 actually came from. Honestly, the story is heavily weighted toward the Americas.

The customer base is broad, spanning several critical sectors, but the financial reality shows a clear concentration in the domestic market. For fiscal year 2025, the Americas segment was the powerhouse, contributing 77.9% of consolidated revenue. The International segment, covering EMEA and Asia Pacific, made up the remaining 22.1%. That regional split is defintely something you need to factor into any valuation model.

Here's a look at the revenue distribution across the operating segments for fiscal 2025:

Segment	FY 2025 Revenue Contribution	FY 2025 Revenue Growth (vs. Prior Year)
Americas	77.9%	2% increase
International	22.1%	5% decrease

Within the Americas, which saw a 2% revenue increase in fiscal 2025, growth was supported by several key customer types. The company serves a diverse mix, including corporate, government, education, healthcare, and retail customers. To be fair, no single industry in the Americas segment accounted for more than 18% of that segment's revenue in 2025.

Large Corporate and Multinational Enterprises are clearly central to the strategy, especially in the Americas, where orders from these customers showed strengthening trends near the end of Q3 fiscal 2025. Still, the overall customer concentration risk is low:

• The largest single customer represented approximately 2% of consolidated revenue in 2025.
• The five largest customers collectively accounted for about 6% of consolidated revenue in 2025.

Government and Public Sector entities are a reliable component of the business. For fiscal 2025, sales to U.S. federal government agencies specifically represented approximately 3% of consolidated revenue. This segment, along with large corporate and education, drove the 7% organic revenue growth seen in the Americas during Q3 of fiscal 2025.

Education (K-12 and Higher Education) and Healthcare organizations are also explicitly named as key drivers of growth in the Americas segment. Steelcase Inc. markets solutions to these sectors using brands like Steelcase Education. The company continues to focus on delivering innovative solutions for these environments.

Flexible Real Estate providers (co-working spaces) are part of the broad range of industries served, alongside financial services, information technology, insurance, manufacturing, and retail. These customers are served primarily through the dealer network, which includes approximately 390 independent and company-owned locations in the Americas.

Steelcase Inc. (SCS) - Canvas Business Model: Cost Structure

You're looking at the expenses that drive the Steelcase Inc. machine for fiscal year 2025. Honestly, for a company this size, the cost structure is dominated by getting the product made and then selling it. The numbers show a clear focus on managing the cost of goods sold and controlling overhead, which helped push the operating margin up.

The single largest cost component is the direct cost of making the furniture. Cost of Revenue was reported at $2.109 billion in FY2025. This figure reflects the combined impact of material prices, labor, and manufacturing overhead across the Americas and International segments. The company saw its Gross Margin improve by 110 basis points in FY2025, which signals that cost reduction initiatives and pricing actions were effectively outpacing input cost inflation to some degree.

Significant manufacturing and raw material costs are inherent to the business. To give you a sense of scale, looking back at 2024, approximately 58% of the cost of sales related to raw materials, components, and finished goods purchased from suppliers. These materials include steel, petroleum-based products like plastics and foam, aluminum, other metals, wood, and particleboard. Navigating the volatility in these commodity markets is a constant cost pressure point for Steelcase Inc.

Selling, General, and Administrative (SG&A) expenses fall under the broader category of Operating Expenses. Total Operating Expenses for the full fiscal year 2025 were $898.8 million. This category covers everything from sales commissions and marketing to corporate overhead and IT. The Operating Income Margin for FY2025 reached 5.0%, an improvement of 130 basis points over the prior year, showing management is executing on cost control within these overhead areas.

Investments in strategic initiatives and R&D are necessary to maintain market leadership. While specific R&D spending for FY2025 isn't explicitly detailed here, the company spent $48.2 million on Research and Development activities in fiscal 2024. Steelcase Inc. is actively investing in its business transformation initiative, which includes the deployment of a new enterprise resource planning (ERP) system, with development costs extending into 2026. This ERP implementation is a major strategic cost driver in the near-term, though the full efficiency benefits are expected in fiscal 2026 and beyond.

Finally, you have to account for the cost of capital. Steelcase Inc. maintained a total debt level of $447.1 million at the end of fiscal year 2025. The interest expense associated with servicing this debt is a fixed, non-operating cost that must be covered before net income is realized. For context, projected interest expense, net of investment income and other income, net, was approximately $2 million for the first quarter of fiscal 2026.

Here's a quick look at the key cost and expense metrics for FY2025:

Metric	Amount (FY2025)	Context/Comparison
Cost of Revenue	$2.109 billion	Largest single cost component
Total Operating Expenses	$898.8 million	Includes SG&A and R&D components
Total Debt	$447.1 million	Debt level at fiscal year-end
Gross Margin Improvement	110 basis points	Compared to prior year
Operating Income Margin	5.0%	Up 130 basis points year-over-year

You should keep an eye on how the company manages its input costs, given the material intensity of their products. The cost structure is heavily weighted toward production, but the strategic investments are a necessary ongoing expense.

• Raw Material Exposure: Steel, petroleum-based products, aluminum, wood.
• Cost Reduction Target: Management is executing on a plan targeting $50+ million in operational cost reductions from FY2023 levels.
• Transformation Costs: Ongoing operating costs related to the business transformation initiative, including IT/ERP deployment.
• Variable Compensation: Included as a component of higher operating expenses, such as $11 million (or 0.3 percent of revenue) in Q4 FY2025.

Finance: draft 13-week cash view by Friday.

Steelcase Inc. (SCS) - Canvas Business Model: Revenue Streams

You're looking at how Steelcase Inc. actually brings in the money, which is always the most important part of any business model analysis. For the fiscal year ending February 28, 2025, the total annual revenue for Steelcase Inc. was reported at $3.17 billion.

The vast majority of this revenue comes from the sale of physical goods, broken down across their main product lines. Systems and storage, which covers things like architectural and modular products, is the biggest piece of the pie, but seating remains a very strong second. Honestly, this product mix shows you they are focused on full workspace solutions, not just chairs.

Product Category	FY 2025 Revenue
Systems and storage	$1.340 billion
Seating	$934.5 million
Other Product Category	$890.6 million

When you look at where these sales happen geographically, the Americas segment is the powerhouse, contributing a dominant 77.9% of consolidated revenue for FY2025. That segment actually saw revenue increase by 2% that year, driven by demand from large corporate, government, and education customers. The International segment, however, was the headwind, with revenue declining by 5% due to soft demand in places like Western Europe.

While the core is product sales, Steelcase Inc. also generates revenue from services, which you should definitely keep an eye on for future growth potential. This includes things like design work, installation services, and end-of-use management for their products. While the search results didn't give a specific dollar amount for services revenue in FY2025, it is implicitly part of the overall revenue structure, likely captured within the product categories or as a smaller component of the overall sales mix.

For shareholders, a concrete return stream is the dividend. The Board of Directors declared a quarterly cash dividend of $0.10 per share in Q4 FY2025, which was scheduled to be paid out in April 2025. This shows a commitment to returning capital to owners, even while navigating mixed global demand.

Key revenue drivers and components include:

• Total annual revenue of $3.17 billion (FY2025).
• Americas segment contribution of 77.9% of total revenue.
• Systems and storage revenue at $1.340 billion.
• Seating revenue at $934.5 million.
• Quarterly cash dividend of $0.10 per share declared.

Finance: draft 13-week cash view by Friday.