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La-Z-Boy Incorporated

Rank #96ValueWatchlistCompare with other stocks

LZB · NYSE · Consumer Cyclical

La-Z-Boy Incorporated (LZB) — Rank #96 by gross profitability (GP/assets 0.47) · ROE 10.1% · Piotroski F-Score N/A.

As-of 2026-10-30 · 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

Company Snapshot

P/E and dividend yield are the primary valuation lenses for mature businesses.

Market Cap

—

P/E (annual)

—

P/S (annual)

—

P/B

—

P/OCF (annual)

—

Shareholder Yield

—

Employees

10,200

Industry

Furnishings, Fixtures & Appliances

Exchange

NYSE

10/11

Flags passed

LZB fails 1 critical flag

Passes 10 of 11 quality flags

  • FAIL
    Operating margin declining

    Operating margin lower than prior year

  • PASS
    Gross margin holding
  • PASS
    Dilution within 2%
  • PASS
    FCF not negative from investment
  • PASS
    Disclosure consistent
  • PASS
    Revenue not declining
  • PASS
    Free cash flow intact
  • PASS
    Passes safety gate
  • PASS
    No competitive retreat
  • PASS
    SBC not compressing margin
  • PASS
    No valuation convergence

Strengths Deferred revenue growing · Sequential beat (rev + EPS)

No data Balance sheet — not counted as a pass.

A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.

Quality Profile

Profitability

1/1 pass
GP / assets
0.47
Return on equity
10.1%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.94
Current ratio
1.66×
Net cash
$267.25M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
0.7%

Growth

2/2 pass
Revenue growth
0.8%
Piotroski F-Score
N/A
Share dilution
-2.4%

Dividend yield and payout ratio are the primary reads at this stage (trailing P/E — see valuation above).

Profitability

Does it make money well?

Warning: Operating margin declining · GP/assets 0.47

Gross profitability (GP / assets)

0.47

Primary signal (Novy-Marx).

3rd of 6 SIC 25 peers

Return on equity

10.1%

Gross margin

44.0%

3rd of 6 SIC 25 peers

Revenue growth (YoY)

0.8%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2023202420252026
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

-3.3%

Revenue CAGR (5Y)

4.2%

Earnings CAGR (3Y)

-12.2%

FCF CAGR (3Y)

-2.1%

Cash Flow Health

Is the cash real?

No warning flags · FCF 25% above net income

Free cash flow

$127.80M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF vs net income

25.3%

(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.

FCF not below net income

Fails when free cash flow is below net income (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

0.7%

Stock-based comp intensity.

Balance Sheet Strength

Can it survive a storm?

No warning flags · net cash $267.25M

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.94

5th of 6 SIC 25 peers (best = lowest)

Current ratio

1.66×

5th of 6 SIC 25 peers

Quick ratio

0.86×

Net cash

$267.25M

Cash & equivalents minus total debt.

Piotroski F-Score

N/A

Only 8/9 components determinable.

Valuation

Is the price reasonable?

No warning flags

Dividend safety

Composite score

3.2 / 5

Good
Payout ratio
37.2%4/5 Strong
FCF coverage
3.37×5/5 Strong
Dividend growth streak
4 yr2/5 Fair
Balance-sheet health
D/E 0.94 · IC N/A2/5 Fair

Capital allocation quality

Composite score

3.0 / 5

Good
Share count trend(net buybacks)
-2.4%4/5 Strong
Buyback timing
N/AN/A
Dividend growth consistency
4 yr2/5 Fair
Net debt trajectory
-1.2%3/5 Good

Lifecycle Phase History

20212026
Value
Hypergrowth
Capital Return
Decline

Price History

LZB-0.3% · -0.1% CAGRSPY+82.9% · +12.8% CAGR

View full financial statements →

Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports