La-Z-Boy Incorporated
Rank #91DeclineLZB · NYSE · Consumer Cyclical
La-Z-Boy Incorporated (LZB) — Rank #91 by gross profitability (GP/assets 0.47) · ROE 10.1% · Piotroski F-Score N/A.
As-of 2026-09-15 · CIK 0000057131 · all metrics point-in-time as of the filing date.
About
La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes, and retails upholstery furniture products in the United States and internationally.
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The company operates through Wholesale and Retail segments. Its Wholesale segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas; and imports, casegoods (wood) furniture, including bedroom sets, dining room sets, entertainment centers, and occasional pieces. This segment sells its products directly to La-Z-Boy Stores, operators of La-Z-Boy Comfort Studio and branded space locations, England Custom Comfort Center locations, dealers, and other independent retailers. The Retail segment sells upholstered furniture, casegoods, and other home furnishing accessories to the end consumer through its retail stores. It licenses La-Z-Boy brand name on various products; and operates Joybird, an omni-channel, direct to consumer retailer and manufacturer of upholstered furniture, as well as sells to the end consumer primarily online through its www.joybird.com website and small-format stores in key markets. The company was formerly known as La-Z-Boy Chair Company and changed its name to La-Z-Boy Incorporated in 1996.
La-Z-Boy Incorporated was founded in 1927 and is headquartered in Monroe, Michigan.
- Industry
- Furnishings, Fixtures & Appliances
- Sector
- Consumer Cyclical
- State
- MI
- Filer Category
- Large accelerated filer
- Fiscal Year End
- April 24
- Website
- la-z-boy.com
Price History
Company Snapshot
P/E, P/B, and dividend yield matter most — book value provides a floor.
Market Cap
$1.22B
P/E (annual)
12.4
P/S (annual)
0.6
P/B
1.2
P/OCF (annual)
6.0
Shareholder Yield
9.8%
Employees
10,200
Industry
Furnishings, Fixtures & Appliances
Exchange
NYSE
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
1/2 passTerry Smith quality gate
Passes 1/5 Terry Smith thresholds1 of 5 threshold not computable from filed data.
What Growth Is Priced In
Implied revenue growth (10Y)
-2.0%
The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).
Buyback tailwind: -6.7% — per-share value needs a total required return of -8.7% once share-count change is priced in.
vs. own 6-year median revenue growth: 6.0%
within its own historyCost-of-equity sensitivity (implied growth at different discount rates)
r = 8%
-5.8%
r = 10% (base)
-2.0%
r = 12%
1.2%
Net debt / market cap: -21.2%
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / E
Price / diluted EPS
P / S
Price / revenue per share
P / B
Price / book value per share
P / GP
Price / gross profit per share
P / FCF
Price / free cash flow per share
Earnings bubble check
Current margins may be above sustainable levels — a P/E based on peak earnings can overstate cheapness.
Asset value and restructuring potential (balance-sheet strength) are the primary reads at this stage.
Profitability
Gross profitability (GP / assets)
0.47
Primary signal (Novy-Marx).
2nd of 5 SIC 25 peers
Return on equity
10.1%
Gross margin
44.0%
2nd of 5 SIC 25 peers
Revenue growth (YoY)
-9.8%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
—
Revenue CAGR (5Y)
—
Earnings CAGR (3Y)
-12.2%
FCF CAGR (3Y)
—
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
0.94
4th of 5 SIC 25 peers (best = lowest)
Current ratio
1.66×
4th of 5 SIC 25 peers
Quick ratio
0.86×
Net cash
$267.25M
Cash & equivalents minus total debt.
Cash-flow health
Free cash flow
$127.80M
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
0.25
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
0.7%
Stock-based comp intensity.
Dividend safety
Composite score
3.2 / 5
Piotroski F-Score
F-Score
N/A
Only 8/9 components determinable.
Lifecycle Phase History
Lynch sell alert: Fast grower deceleration
Revenue growth decelerated to -0.3% after being classified hypergrowth as of 2022-04-30 -- Lynch's fast-grower rule: sell once growth slows below the pace that justified the label, not on price weakness.