A Business at a Glance
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LEGGETT & PLATT INC
LEG
$1.6B
Mkt Cap
$11.16
+5.28%
LEGGETT & PLATT INC (LEG) has a current P/E ratio of 6.6, compared to its historical median P/E of 12.6. The stock is currently considered Cheap based on its historical valuation range.
LEGGETT & PLATT INC (LEG) has a 5-year average return on invested capital (ROIC) of 3.9%. This is below average and may indicate limited pricing power.
LEGGETT & PLATT INC (LEG) has a market capitalization of $1.6B. It is classified as a small-cap stock.
Yes, LEGGETT & PLATT INC (LEG) pays a dividend with a trailing twelve-month yield of 1.72%. The company also returns capital through share buybacks, with a buyback yield of 0.24%.
Based on historical P/E analysis, LEGGETT & PLATT INC (LEG) appears cheap. The current P/E of 6.6 is 47% below its historical median of 12.6. The estimated fair value CAGR (P/E method) is -8.2%.
LEGGETT & PLATT INC (LEG) operates in the Household Furniture industry, within the Consumer Cyclical sector.
LEGGETT & PLATT INC (LEG) reported annual revenue of $4.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
Item 1. Business. Leggett & Platt, Incorporated (Leggett & Platt, Company, we, us, or our), a pioneer of the steel coil bedspring, is an international diversified manufacturer that conceives, designs, and produces a wide range of engineered components and products found in many homes and automobiles. As discussed below, our operations are organized into 13 business units, which are divided into six groups under our three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. On August 29, 2025, we divested our Aerospace Products Group which was reported in our Specialized Products segment, as discussed in Note S to the Consolidated Financial Statements on page 121, and under Divestitures and Acquisitions in Item 1. Business on page 6. Overview of Our Segments Bedding Products Segment BEDDING GROUP Steel Rod Drawn Wire U.S.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 4.0B | 4.1B | 4.4B | 4.7B | 5.2B | 5.1B |
| Net Income | 225M | 235M | -511M | -137M | 310M | 402M |
| EPS | $1.56 | $1.69 | $-3.73 | $-1.00 | $2.27 | $2.94 |
| Free Cash Flow | 207M | 281M | 224M | 383M | 341M | 165M |
| ROIC | -0.2% | 12.1% | -18.4% | 0.4% | 10.6% | 14.5% |
| Gross Margin | 18.3% | 18.3% | 17.1% | 18.1% | 18.8% | 20.2% |
| Debt/Equity | 1.44 | 1.83 | 3.24 | 1.63 | 1.44 | 1.27 |
| Dividends/Share | $0.19 | $0.20 | $0.99 | $1.82 | $1.74 | $1.66 |
| Operating Income | -4.0M | 363M | -423M | 14M | 489M | 598M |
| Operating Margin | -0.1% | 8.9% | -9.7% | 0.3% | 9.4% | 11.7% |
| ROE | 21.6% | 27.5% | -50.6% | -9.2% | 18.8% | 26.2% |
| Shares Outstanding | 141M | 139M | 137M | 137M | 136M | 137M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 4.2B | 4.4B | 4.1B | 4.2B | 4.3B | 4.8B | 4.3B | 5.1B | 5.2B | 4.7B | 4.4B | 4.1B | 4.0B |
| Gross Margin | 18.8% | 21.1% | 21.9% | 20.8% | 20.5% | 21.3% | 20.9% | 20.2% | 18.8% | 18.1% | 17.1% | 18.3% | 18.3% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 450M | 417M | 396M | 401M | 425M | 470M | 424M | 422M | 427M | 465M | 509M | 488M | 486M |
| EBIT | 210M | 488M | 545M | 475M | 445M | 494M | 411M | 598M | 489M | 14M | -423M | 363M | -4.0M |
| Op. Margin | 5.0% | 11.1% | 13.2% | 11.2% | 10.3% | 10.3% | 9.5% | 11.7% | 9.4% | 0.3% | -9.7% | 8.9% | -0.1% |
| Net Income | 98M | 325M | 386M | 293M | 306M | 314M | 253M | 402M | 310M | -137M | -511M | 235M | 225M |
| Net Margin | 2.3% | 7.4% | 9.4% | 6.9% | 7.1% | 6.5% | 5.8% | 7.8% | 6.0% | -2.9% | -11.7% | 5.8% | 5.7% |
| Non-Recurring | 0 | 4.6M | 42M | 26M | 9.7M | 13M | 33M | 30M | 3.9M | 23M | 730M | 102M | 6.3M |
| Returns on Capital | |||||||||||||
| ROIC | 6.7% | 15.7% | 16.7% | 14.7% | 13.2% | 13.9% | 10.2% | 14.5% | 10.6% | 0.4% | -18.4% | 12.1% | -0.2% |
| ROE | 7.7% | 29.1% | 35.4% | 25.6% | 26.1% | 25.4% | 18.5% | 26.2% | 18.8% | -9.2% | -50.6% | 27.5% | 21.6% |
| ROA | 3.1% | 10.7% | 13.0% | 9.0% | 8.8% | 7.6% | 5.2% | 8.0% | 5.9% | -2.8% | -12.3% | 6.5% | 6.4% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 382M | 359M | 553M | 444M | 440M | 668M | 603M | 271M | 441M | 497M | 306M | 338M | 275M |
| Free Cash Flow | 288M | 256M | 429M | 284M | 281M | 525M | 536M | 165M | 341M | 383M | 224M | 281M | 207M |
| Owner Earnings | 222M | 201M | 400M | 281M | 269M | 443M | 384M | 50M | 232M | 290M | 145M | 198M | -1.3B |
| CapEx | 94M | 103M | 124M | 159M | 160M | 143M | 66M | 107M | 100M | 114M | 82M | 57M | 68M |
| Maint. CapEx | 118M | 113M | 115M | 126M | 136M | 192M | 189M | 187M | 180M | 180M | 134M | 121M | 1.6B |
| Growth CapEx | 0 | 0 | 8.6M | 33M | 23M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 118M | 113M | 115M | 126M | 136M | 192M | 189M | 187M | 180M | 180M | 134M | 121M | 1.6B |
| CapEx/OCF | 24.6% | 28.7% | 22.4% | 35.9% | 36.2% | 21.4% | 11.0% | 39.3% | 22.7% | 22.9% | 26.7% | 16.9% | 24.8% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 168M | 172M | 177M | 186M | 194M | 205M | 212M | 218M | 229M | 239M | 136M | 27M | 27M |
| Dividend Yield | 5.2% | 3.9% | 3.8% | 3.9% | 4.5% | 4.7% | 5.0% | 4.1% | 5.3% | 6.6% | 6.8% | 2.1% | 1.7% |
| Share Buybacks | 150M | 192M | 198M | 158M | 112M | 16M | 11M | 9.8M | 60M | 6.0M | 4.9M | 2.4M | 3.8M |
| Buyback Yield | 3.7% | 4.6% | 4.1% | 3.3% | 3.1% | 0.3% | 0.2% | 0.2% | 1.6% | 0.2% | 0.4% | 0.2% | 0.2% |
| Stock-Based Comp | 42M | 45M | 37M | 37M | 36M | 33M | 29M | 34M | 30M | 28M | 27M | 20M | 23M |
| Debt Repayment | 188M | 205M | 5.4M | 9.2M | 155M | 38M | 158M | 307M | 302M | 2.0M | 300M | 100K | 100K |
| Balance Sheet | |||||||||||||
| Net Debt | 636M | 873M | 874M | 726M | 971M | 2.1B | 1.6B | 1.7B | 2.0B | 1.8B | 1.9B | 1.3B | 988M |
| Cash & Equiv. | 333M | 253M | 282M | 526M | 268M | 248M | 349M | 362M | 317M | 366M | 350M | 587M | 510M |
| Long-Term Debt | 767M | 942M | 956M | 1.1B | 1.2B | 2.1B | 1.8B | 1.8B | 2.1B | 1.7B | 1.9B | 1.5B | 1.5B |
| Debt/Equity | 0.84 | 1.04 | 1.06 | 1.05 | 1.07 | 1.78 | 1.33 | 1.27 | 1.44 | 1.63 | 3.24 | 1.83 | 1.44 |
| Interest Coverage | 5.0 | 11.9 | 14.0 | 10.9 | 7.3 | 5.4 | 5.0 | 7.8 | 5.7 | 0.2 | -4.9 | 5.0 | 5.0 |
| Equity | 1.1B | 1.1B | 1.1B | 1.2B | 1.2B | 1.3B | 1.4B | 1.6B | 1.6B | 1.3B | 689M | 1.0B | 1.0B |
| Total Assets | 3.1B | 3.0B | 3.0B | 3.6B | 3.4B | 4.9B | 4.8B | 5.3B | 5.2B | 4.6B | 3.7B | 3.5B | 3.5B |
| Total Liabilities | 2.0B | 1.9B | 1.9B | 2.4B | 2.2B | 3.5B | 3.4B | 3.7B | 3.5B | 3.3B | 3.0B | 2.5B | -26M |
| Intangibles | 205M | 188M | 165M | 169M | 179M | 764M | 702M | 708M | 675M | 168M | 140M | 91M | 87M |
| Retained Earnings | 2.1B | 2.2B | 2.4B | 2.5B | 2.6B | 2.7B | 2.8B | 3.0B | 3.0B | 2.7B | 2.1B | 2.3B | 2.3B |
| Working Capital | 437M | 610M | 618M | 790M | 709M | 610M | 652M | 730M | 990M | 619M | 844M | 969M | 998M |
| Current Assets | 1.4B | 1.3B | 1.3B | 1.8B | 1.5B | 1.5B | 1.7B | 2.1B | 2.0B | 1.9B | 1.7B | 1.7B | 1.7B |
| Current Liabilities | 992M | 701M | 707M | 976M | 816M | 928M | 1.0B | 1.3B | 968M | 1.3B | 846M | 775M | 749M |
| Per Share Data | |||||||||||||
| EPS | 0.68 | 2.28 | 2.76 | 2.13 | 2.26 | 2.32 | 1.86 | 2.94 | 2.27 | -1.00 | -3.73 | 1.69 | 1.56 |
| Owner EPS | 1.54 | 1.41 | 2.86 | 2.05 | 1.99 | 3.27 | 2.82 | 0.36 | 1.70 | 2.12 | 1.06 | 1.42 | -9.43 |
| Book Value | 7.96 | 7.61 | 7.81 | 8.66 | 8.55 | 9.69 | 10.47 | 12.04 | 12.02 | 9.75 | 5.03 | 7.34 | 7.37 |
| Cash Flow/Share | 2.65 | 2.52 | 3.95 | 3.23 | 3.25 | 4.94 | 4.43 | 1.98 | 3.23 | 3.63 | 2.23 | 2.43 | 12.82 |
| Dividends/Share | 1.22 | 1.26 | 1.34 | 1.42 | 1.50 | 1.58 | 1.60 | 1.66 | 1.74 | 1.82 | 0.99 | 0.20 | 0.19 |
| Shares Out. | 144.1M | 142.6M | 139.8M | 137.4M | 135.4M | 135.3M | 136.0M | 136.9M | 136.5M | 136.8M | 137.1M | 139.3M | 141.0M |
| Valuation | |||||||||||||
| P/E Ratio | 41.8 | 12.9 | 12.6 | 16.2 | 11.9 | 16.2 | 18.9 | 11.6 | 12.5 | N/A | N/A | 6.5 | 7.2 |
| P/FCF | 14.2 | 16.3 | 11.4 | 16.7 | 13.0 | 10.3 | 8.9 | 28.3 | 11.3 | 8.8 | 5.7 | 5.5 | 7.6 |
| EV/EBIT | 21.9 | 9.5 | 9.7 | 10.7 | 9.6 | 13.4 | 14.5 | 9.6 | 10.9 | 359.2 | N/A | 5.1 | N/A |
| Price/Book | 3.6 | 3.9 | 4.5 | 4.0 | 3.1 | 4.1 | 3.4 | 2.8 | 2.4 | 2.5 | 1.9 | 1.5 | 1.5 |
| Price/Sales | 0.9 | 1.1 | 1.2 | 1.2 | 1.0 | 0.9 | 1.0 | 1.0 | 0.8 | 0.8 | 0.5 | 0.3 | 0.4 |
| FCF Yield | 7.0% | 6.1% | 8.8% | 6.0% | 7.7% | 9.7% | 11.2% | 3.5% | 8.8% | 11.3% | 17.5% | 18.3% | 13.2% |
| Market Cap | 4.1B | 4.2B | 4.9B | 4.7B | 3.6B | 5.4B | 4.8B | 4.7B | 3.9B | 3.4B | 1.3B | 1.5B | 1.6B |
| Avg. Price | 22.54 | 30.78 | 33.23 | 35.07 | 31.63 | 32.36 | 30.89 | 38.84 | 31.59 | 26.69 | 14.53 | 9.25 | 11.16 |
| Year-End Price | 28.39 | 29.34 | 34.90 | 34.51 | 26.92 | 39.91 | 35.24 | 34.03 | 28.30 | 24.80 | 9.36 | 11.05 | 11.16 |
LEGGETT & PLATT INC passes 2 of 9 quality checks, indicating weak fundamentals.
LEGGETT & PLATT INC trades at 6.6x trailing earnings, compared to its 15-year median P/E of 12.6x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 5.4x vs a median of 10.8x. The company's 5-year average ROIC is 3.9% with a gross margin of 18.5%. Total shareholder yield (dividends + buybacks) is 2.0%. At current prices, the estimated annualized return to fair value is -6.5%.
LEGGETT & PLATT INC (LEG) has a net profit margin of 5.8%. This is a modest margin.
LEGGETT & PLATT INC (LEG) generated $281 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
LEGGETT & PLATT INC (LEG) has a debt-to-equity ratio of 1.83. This indicates higher leverage, which may increase financial risk.
LEGGETT & PLATT INC (LEG) reported earnings per share (EPS) of $1.69 in its most recent fiscal year.
LEGGETT & PLATT INC (LEG) has a return on equity (ROE) of 27.5%. This indicates the company generates strong returns for shareholders.
LEGGETT & PLATT INC (LEG) has a 5-year average gross margin of 18.5%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 16 years of financial data for LEGGETT & PLATT INC (LEG), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
LEGGETT & PLATT INC (LEG) has a book value per share of $7.34, based on its most recent annual SEC filing.
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