La-z-boy Inc

Consumer Discretionary
Home Furnishings
www.la-z-boy.com

Earnings Score
Moat Score

Market Cap $1.86B
PE 15
Debt $NaN
Cash $303.06M
EV $NaN
FCF $109.69M

Earnings

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Sales & Net Margins

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Earnings	$124.14M
EBIT	$166.57M
ROE	12%
ROA	9%
FCF	$109.69M
Equity	$1.02B
Growth Stability	84%
PE	15
PEG	1.06
PB	1.83
P/FCF	16.98
P/S	0.9
Price/Cash	0.16
Net Margins	6%
Gross Margins	43%
Op. Margins	8%
Earnings CAGR	9%
Sales Growth YoY	2%
Sales Growth QoQ	5%
Sales CAGR	6%
FCF CAGR	-3%
Equity CAGR	7%
Earnings Stability	0.53
Earnings Growth YoY	10%
Earnings Growth QoQ	15%

Earnings CAGR 5Y	14%
Sales CAGR 5Y	7%
FCF CAGR 5Y	-9%
Equity CAGR 5Y	9%
Earnings CAGR 3Y	-6%
Sales CAGR 3Y	-6%
FCF CAGR 3Y	175%
Equity CAGR 3Y	10%
Market Cap	$1.86B
Revenue	$2.07B
Dividend Yield	2%
Payout Ratio	27%
Assets	$1.93B
Cash	$303.06M
Shares Outstanding	41.65M
Earnings Score	64%
Moat Score	87%
Working Capital	384.27M
Current Ratio	1.88
Gross Profit	$897.33M
Shares Growth 3y	-1%
Equity Growth QoQ	1%
Equity Growth YoY	5%

Assets & ROA

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Stockholders Equity & ROE

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La-Z-Boy Inc is a U.S.-based company that manufactures, distributes, and retails upholstery furniture products. It is a producer of reclining chairs and distributors of residential furniture in the U.S. The company chiefly operates in the United States but also has secondary operations in Canada and other countries. The company's reportable segments include the Wholesale segment, which manufactures and imports upholstered furniture; and Retail, which sells upholstered and case goods furniture to the end consumer. The majority of the company's revenue is derived from its Wholesale segment. Some of the core brands of the firm include England, Kincaid, American Drew, and Hammary.

SEC Filings

Direct access to La-z-boy Inc (LZB) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Oct 26
- 10-Q Jul 27
- 10-K Apr 27
- 10-Q Jan 27
2023
- 10-Q Oct 28
- 10-Q Jul 29
- 10-K Apr 29
- 10-Q Jan 28
2022
- 10-Q Oct 29
- 10-Q Jul 30
- 10-K Apr 30
- 10-Q Jan 22

Sector Comparison

How does La-z-boy Inc compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of La-z-boy Inc compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 9%

Stability 53%

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La-z-boy Inc Discounted Cash Flow

Fully customizable DCF calculator online for La-z-boy Inc.

Years

Calculation mode

= $882M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$110M	$106M	$103M	$99M	$96M	$93M	$90M	$87M	$84M	$81M	$79M	$786M
DCF		$96M	$85M	$75M	$66M	$58M	$51M	$45M	$39M	$34M	$30M	$303M
Value	$882M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	04/2015	04/2016	04/2017	04/2018	04/2019	04/2020	04/2021	04/2022	04/2023	04/2024	TTM
Net Margins	5%	5%	6%	5%	4%	5%	6%	6%	6%	6%	6%
ROA	-	16%	15%	14%	12%	8%	8%	11%	11%	9%	9%
ROE	-	14%	14%	13%	10%	11%	14%	18%	16%	12%	12%

Bad Net Margins (5.53%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	04/2015	04/2016	04/2017	04/2018	04/2019	04/2020	04/2021	04/2022	04/2023	04/2024	TTM
Debt over FCF	-	0.01	0	0.01	0	0.63	0	-	-	-	-
Debt over Equity	0	0	0	0	0	0.1	0	-	-	-	-
Growth Stability	-	-	-	100%	84%	99%	100%	100%	100%	90%	84%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Neutral Graham’s Stability (84%)

The company has a stability in its earnings that is not too good nor too bad.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	04/2015	04/2016	04/2017	04/2018	04/2019	04/2020	04/2021	04/2022	04/2023	04/2024	CAGR 5Y
Revenue YoY growth	-	7%	-0%	4%	10%	-2%	2%	36%	-0%	-13%	7%
Earnings YoY growth	-	12%	8%	-6%	-15%	13%	38%	41%	0%	-19%	14%
Equity YoY growth	-	5%	8%	4%	11%	3%	9%	5%	16%	6%	9%
FCF YoY growth	-	434%	44%	-37%	29%	16%	130%	-99%	6K%	-23%	-9%