A Business at a Glance
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LA-Z-BOY INC
LZB
$1.6B
Mkt Cap
$39.68
+2.16%
LA-Z-BOY INC (LZB) has a current P/E ratio of 19.8, compared to its historical median P/E of 13.7. The stock is currently considered Expensive based on its historical valuation range.
LA-Z-BOY INC (LZB) has a 5-year average return on invested capital (ROIC) of 20.9%. This indicates strong capital allocation and a potential competitive advantage.
LA-Z-BOY INC (LZB) has a market capitalization of $1.6B. It is classified as a small-cap stock.
Yes, LA-Z-BOY INC (LZB) pays a dividend with a trailing twelve-month yield of 2.32%. The company also returns capital through share buybacks, with a buyback yield of 2.89%.
Based on historical P/E analysis, LA-Z-BOY INC (LZB) appears expensive. The current P/E of 19.8 is 45% above its historical median of 13.7. The estimated fair value CAGR (P/E method) is 8.7%.
LA-Z-BOY INC (LZB) operates in the Household Furniture industry, within the Consumer Cyclical sector.
LA-Z-BOY INC (LZB) reported annual revenue of $2.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
Edward M. Knabusch and Edwin J. Shoemaker started Floral City Furniture in 1927, and in 1928 the newly formed company introduced its first recliner. In 1941, we were incorporated in the state of Michigan as La-Z-Boy Chair Company, and in 1996 we changed our name to La-Z-Boy Incorporated. Today, our La-Z-Boy brand is one of the most recognized brands in the furniture industry. We are the leading global producer of reclining chairs and one of the largest manufacturers/distributors of residential furniture in the United States. The La-Z-Boy Furniture Galleries® stores retail network is the third largest retailer of single-branded furniture in the United States. We manufacture, market, import, export, distribute and retail upholstery furniture products under the La-Z-Boy®, England, Kincaid®, and Joybird® tradenames. In addition, we import, distribute and retail accessories and casegoods (wood) furniture products under the Kincaid®, American Drew®, Hammary®, and Joybird® tradenames.
| Metric | TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|---|
| Revenue | 2.1B | 2.1B | 2.1B | 2.0B | 2.3B | 2.4B |
| Net Income | 102M | 102M | 100M | 123M | 151M | 150M |
| EPS | $2.47 | $2.47 | $2.35 | $2.83 | $3.48 | $3.39 |
| Free Cash Flow | 128M | 128M | 113M | 105M | 136M | 2.4M |
| ROIC | 12.8% | 13.4% | 13.9% | 18.0% | 26.8% | 32.3% |
| Gross Margin | 44.0% | 44.0% | 43.9% | 43.1% | 41.1% | 37.3% |
| Debt/Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Dividends/Share | $0.92 | $0.76 | $0.84 | $0.92 | $0.69 | $0.63 |
| Operating Income | 129M | 129M | 136M | 151M | 211M | 207M |
| Operating Margin | 6.1% | 6.1% | 6.4% | 7.4% | 9.0% | 8.8% |
| ROE | 9.7% | 9.9% | 9.8% | 12.6% | 17.2% | 18.9% |
| Shares Outstanding | 41M | 41M | 42M | 43M | 43M | 44M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.4B | 1.5B | 1.5B | 1.6B | 1.7B | 1.7B | 1.7B | 2.4B | 2.3B | 2.0B | 2.1B | 2.1B | 2.1B |
| Gross Margin | 35.4% | 38.3% | 40.1% | 39.3% | 40.3% | 42.3% | 42.7% | 37.3% | 41.1% | 43.1% | 43.9% | 44.0% | 44.0% |
| R&D | 6.1M | 6.3M | 8.0M | 7.9M | 9.1M | 11M | 7.6M | 9.0M | 9.1M | 9.6M | 9.9M | 11M | 11M |
| SG&A | 401M | 460M | 476M | 493M | 573M | 576M | 604M | 673M | 753M | 731M | 770M | 787M | 787M |
| EBIT | 103M | 125M | 133M | 129M | 130M | 119M | 137M | 207M | 211M | 151M | 136M | 129M | 129M |
| Op. Margin | 7.2% | 8.2% | 8.8% | 8.2% | 7.4% | 7.0% | 7.9% | 8.8% | 9.0% | 7.4% | 6.4% | 6.1% | 6.1% |
| Net Income | 70M | 79M | 86M | 80M | 68M | 77M | 106M | 150M | 151M | 123M | 100M | 102M | 102M |
| Net Margin | 4.9% | 5.2% | 5.6% | 5.1% | 3.9% | 4.5% | 6.1% | 6.4% | 6.4% | 6.0% | 4.7% | 4.8% | 4.8% |
| Non-Recurring | 499K | -384K | 224K | 2.1M | 325K | 37M | 27M | 14M | -6.4M | -1.1M | 19M | 27M | 27M |
| Returns on Capital | |||||||||||||
| ROIC | 18.2% | 19.9% | 20.1% | 17.7% | 18.5% | 15.3% | 22.5% | 32.3% | 26.8% | 18.0% | 13.9% | 13.4% | 12.8% |
| ROE | 13.5% | 14.7% | 15.0% | 13.4% | 10.6% | 11.2% | 14.4% | 18.9% | 17.2% | 12.6% | 9.8% | 9.9% | 9.7% |
| ROA | 9.1% | 10.0% | 10.1% | 9.0% | 7.0% | 6.2% | 6.6% | 8.1% | 7.9% | 6.5% | 5.2% | 5.1% | 5.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 87M | 115M | 148M | 116M | 151M | 164M | 310M | 79M | 205M | 158M | 187M | 204M | 204M |
| Free Cash Flow | 16M | 90M | 128M | 79M | 102M | 118M | 272M | 2.4M | 136M | 105M | 113M | 128M | 128M |
| Owner Earnings | 58M | 80M | 110M | 75M | 109M | 125M | 264M | 27M | 153M | 95M | 123M | 141M | 141M |
| CapEx | 70M | 25M | 20M | 36M | 48M | 46M | 38M | 77M | 69M | 54M | 74M | 76M | 76M |
| Maint. CapEx | 22M | 27M | 29M | 32M | 31M | 31M | 33M | 40M | 40M | 49M | 47M | 47M | 47M |
| Growth CapEx | 48M | 0 | 0 | 4.6M | 17M | 15M | 4.9M | 37M | 29M | 5.0M | 28M | 29M | 29M |
| D&A | 22M | 27M | 29M | 32M | 31M | 31M | 33M | 40M | 40M | 49M | 47M | 47M | 47M |
| CapEx/OCF | 81.1% | 22.0% | 13.7% | 31.4% | 32.1% | 28.0% | 12.2% | 96.9% | 33.5% | 33.9% | 39.7% | N/A | 37.4% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 15M | 18M | 21M | 22M | 24M | 25M | 0 | 28M | 30M | 33M | 35M | 38M | 38M |
| Dividend Yield | 1.4% | 1.7% | 1.8% | 1.8% | 1.8% | 2.0% | N/A | 2.0% | 2.8% | 2.4% | 2.1% | N/A | 2.3% |
| Share Buybacks | 52M | 44M | 36M | 57M | 23M | 43M | 44M | 91M | 5.0M | 53M | 78M | 47M | 47M |
| Buyback Yield | 4.3% | 4.0% | 3.1% | 4.6% | 1.7% | 4.5% | 2.4% | 8.2% | 0.4% | 3.8% | 4.8% | 0.0% | 2.9% |
| Stock-Based Comp | 6.8M | 8.3M | 8.9M | 9.5M | 11M | 8.4M | 13M | 12M | 12M | 14M | 17M | 16M | 16M |
| Debt Repayment | 7.6M | 508K | 288K | 262K | 223K | 161K | 75M | 121K | 123K | 489K | 0 | 784K | 784K |
| Balance Sheet | |||||||||||||
| Net Debt | -159M | -159M | -141M | -134M | -130M | -187M | -391M | -245M | -343M | -339M | -338M | -314M | -301M |
| Cash & Equiv. | 98M | 112M | 142M | 135M | 130M | 262M | 391M | 246M | 343M | 341M | 328M | 303M | 303M |
| Long-Term Debt | 830K | 513K | 296K | 199K | 19K | 0 | 473K | 350K | 225K | 1.2M | 1.9M | 1.3M | 1.3M |
| Debt/Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.11 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Coverage | 197.3 | 257.9 | 266.7 | 323.4 | 129.7 | 197.9 | 170.9 | 413.5 | 394.5 | 331.4 | 249.2 | 246.6 | 246.6 |
| Equity | 524M | 547M | 590M | 612M | 683M | 701M | 773M | 811M | 942M | 1.0B | 1.0B | 1.0B | 1.0B |
| Total Assets | 775M | 800M | 889M | 893M | 1.1B | 1.4B | 1.8B | 1.9B | 1.9B | 1.9B | 1.9B | 2.0B | 2.0B |
| Total Liabilities | 250M | 253M | 299M | 281M | 377M | 734M | 1.0B | 1.1B | 924M | 910M | 902M | 992M | 992M |
| Intangibles | 5.5M | 8.6M | 18M | 18M | 30M | 29M | 30M | 34M | 39M | 47M | 51M | 78M | 78M |
| Retained Earnings | 236M | 252M | 285M | 292M | 326M | 344M | 399M | 431M | 545M | 598M | 597M | 610M | 610M |
| Working Capital | 322M | 325M | 319M | 337M | 302M | 276M | 314M | 276M | 379M | 400M | 385M | 344M | 344M |
| Current Assets | 476M | 482M | 517M | 518M | 541M | 626M | 926M | 952M | 855M | 837M | 806M | 774M | 774M |
| Current Liabilities | 155M | 157M | 199M | 181M | 239M | 350M | 612M | 676M | 476M | 437M | 421M | 430M | 430M |
| Per Share Data | |||||||||||||
| EPS | 1.34 | 1.55 | 1.73 | 1.67 | 1.44 | 1.66 | 2.30 | 3.39 | 3.48 | 2.83 | 2.35 | 2.47 | 2.47 |
| Owner EPS | 1.10 | 1.57 | 2.23 | 1.55 | 2.29 | 2.68 | 5.71 | 0.62 | 3.52 | 2.20 | 2.91 | 3.41 | 3.41 |
| Book Value | 9.98 | 10.76 | 11.94 | 12.71 | 14.38 | 15.04 | 16.72 | 18.32 | 21.75 | 23.15 | 24.09 | 25.43 | 25.43 |
| Cash Flow/Share | 1.65 | 2.25 | 2.99 | 2.40 | 3.18 | 3.52 | 6.70 | 1.79 | 4.74 | 3.65 | 4.42 | 4.94 | 3.62 |
| Dividends/Share | 0.28 | 0.36 | 0.42 | 0.46 | 0.50 | 0.54 | 0.36 | 0.63 | 0.69 | 0.92 | 0.84 | 0.76 | 0.92 |
| Shares Out. | 52.5M | 50.9M | 49.4M | 48.2M | 47.5M | 46.6M | 46.3M | 44.3M | 43.3M | 43.3M | 42.4M | 41.3M | 41.3M |
| Valuation | |||||||||||||
| P/E Ratio | 16.8 | 14.0 | 13.7 | 15.1 | 19.7 | 12.3 | 17.6 | 7.4 | 7.8 | 11.3 | 16.4 | N/A | 16.1 |
| P/FCF | 72.1 | 12.3 | 9.2 | 15.3 | 13.2 | 8.1 | 6.9 | 458.3 | 8.6 | 13.2 | 14.5 | N/A | 12.8 |
| EV/EBIT | 9.7 | 7.3 | 6.7 | 7.4 | 8.4 | 6.5 | 8.0 | N/A | N/A | N/A | N/A | N/A | 10.4 |
| Price/Book | 2.3 | 2.0 | 2.0 | 2.0 | 2.0 | 1.4 | 2.4 | 1.4 | 1.2 | 1.4 | 1.6 | N/A | 1.6 |
| Price/Sales | 0.7 | 0.7 | 0.8 | 0.8 | 0.7 | 0.7 | 0.8 | 0.6 | 0.5 | 0.7 | 0.8 | N/A | 0.8 |
| FCF Yield | 1.4% | 8.1% | 10.9% | 6.5% | 7.6% | 12.4% | 14.5% | 0.2% | 11.7% | 7.6% | 6.9% | N/A | 7.8% |
| Market Cap | 1.2B | 1.1B | 1.2B | 1.2B | 1.4B | 954M | 1.9B | 1.1B | 1.2B | 1.4B | 1.6B | 0 | 1.6B |
| Avg. Price | 19.90 | 21.45 | 23.17 | 25.10 | 26.83 | 27.07 | 31.28 | 31.47 | 24.49 | 30.83 | 39.72 | 0.00 | 39.68 |
| Year-End Price | 22.57 | 21.75 | 23.66 | 25.25 | 28.42 | 20.44 | 40.52 | 25.10 | 27.03 | 31.88 | 38.63 | 0.00 | 39.68 |
LA-Z-BOY INC passes 4 of 9 quality checks, suggesting mixed fundamentals.
LA-Z-BOY INC trades at 19.8x trailing earnings, compared to its 15-year median P/E of 13.7x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 10.3x vs a median of 11.2x. The company's 5-year average ROIC is 20.9% with a gross margin of 41.9%. Total shareholder yield (dividends + buybacks) is 5.2%. At current prices, the estimated annualized return to fair value is +0.9%.
LA-Z-BOY INC (LZB) has a net profit margin of 4.8%. This is a modest margin.
LA-Z-BOY INC (LZB) generated $128 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
LA-Z-BOY INC (LZB) has a debt-to-equity ratio of 0.00. This indicates a conservatively financed balance sheet.
LA-Z-BOY INC (LZB) reported earnings per share (EPS) of $2.47 in its most recent fiscal year.
LA-Z-BOY INC (LZB) has a return on equity (ROE) of 9.9%. This indicates moderate shareholder returns.
LA-Z-BOY INC (LZB) has a 5-year average gross margin of 41.9%. This indicates decent pricing power.
The Ledger Terminal provides 17 years of financial data for LA-Z-BOY INC (LZB), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
LA-Z-BOY INC (LZB) has a book value per share of $25.43, based on its most recent annual SEC filing.