La-Z-Boy Inc Stock Research

Market Summary

USD26.94+0.27

Market Closed

1.01%

LZB Stock Price

LZB RSI Chart

LZB Valuation

Market Cap

1.2B

Price/Earnings (Trailing)

6.64

Price/Sales (Trailing)

0.47

EV/EBITDA

3.15

Price/Free Cashflow

13.6

LZB Price/Sales (Trailing)

LZB Profitability

Operating Margin

41.24%

EBT Margin

9.60%

Return on Equity

19.3%

Return on Assets

9.47%

Free Cashflow Yield

7.35%

LZB Fundamentals

LZB Revenue

Revenue (TTM)

2.5B

Revenue Y/Y

0.2%

Revenue Q/Q

-6.32%

LZB Earnings

Earnings (TTM)

174.9M

Earnings Y/Y

11.45%

Earnings Q/Q

-32.18%

Price Action

52 Week Range

21.9233.06

(Low)(High)

Last 7 days

-2.5%

Last 30 days

-2.7%

Last 90 days

-17.9%

Trailing 12 Months

6.3%

LZB Financial Health

Current Ratio

1.67

LZB Investor Care

Dividend Yield

2.53%

Dividend/Share (TTM)

0.68

Buy Backs (1Y)

1.28%

Diluted EPS (TTM)

4.02

Peers (Alternatives to La-Z-Boy)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
DHI	36.4B	33.7B	0.60%	46.90%	7.01	1.08	10.55%	3.05%
GRMN	19.9B	4.8B	9.07%	2.08%	20.61	4.11	-4.88%	-10.19%
PHM	14.8B	16.6B	1.92%	46.94%	5.5	0.89	15.83%	28.51%
MID-CAP
WHR	7.4B	19.5B	4.03%	-23.30%	-3.68	0.38	-9.72%	-220.82%
MHK	6.8B	11.5B	0.25%	-31.78%	-48.29	0.59	-0.17%	-113.42%
TPX	6.6B	4.9B	4.88%	45.11%	14.42	1.34	-4.62%	-34.32%
LEG	4.3B	5.0B	1.90%	-17.81%	13.96	0.84	-3.93%	-32.67%
NWL	3.6B	8.9B	-26.39%	-58.39%	-27.17	0.41	-16.96%	-117.57%
SKY	3.4B	2.8B	-8.40%	22.45%	10.56	1.4	36.51%	120.80%
CVCO	2.4B	2.2B	-5.78%	25.15%	9.74	1.11	52.07%	45.82%
SMALL-CAP
LZB	1.2B	2.5B	-2.71%	6.31%	6.64	0.47	12.82%	32.93%
HOFT	177.2M	583.1M	-1.25%	-6.02%	-41.11	0.3	-1.77%	-136.80%
BSET	123.5M	475.4M	-2.82%	-11.46%	2.02	0.26	2.77%	212.27%
FLXS	95.2M	412.4M	5.80%	-4.78%	21.9	0.23	-25.82%	-45.44%

Financials for La-Z-Boy

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	0.0%	2,473	2,472	2,436	2,357	2,192
Cost Of Revenue	-1.8%	1,453	1,479	1,481	1,441	1,325
Gross Profit	2.7%	1,020	993	955	916	867
S&GA Expenses	3.1%	784	760	730	709	689
EBITDA	2.1%	279	274	265	245	-
EBITDA Margin	2.0%	0.11*	0.11*	0.11*	-	-
Earnings Before Taxes	2.1%	237	232	224	205	179
EBT Margin	2.1%	0.10*	0.09*	0.09*	-	-
Net Income	1.9%	175	172	165	150	132
Net Income Margin	1.9%	0.07*	0.07*	0.07*	-	-
Free Cahsflow	689.8%	85.00	11.00	28.00	2.00	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	-0.6%	1,846	1,858	1,919	1,932	1,930
Current Assets	-1.0%	849	857	920	952	962
Cash Equivalents	37.2%	281	205	238	246	237
Inventory	-11.4%	304	343	332	303	316
Net PPE	-0.6%	268	269	263	253	251
Goodwill	0.6%	205	203	202	195	195
Current Liabilities	-7.5%	509	551	639	676	713
Shareholder's Equity	2.5%	906	884	844	811	784
Retained Earnings	4.8%	519	495	456	431	396
Additional Paid-In Capital	1.0%	350	347	343	342	339
Shares Outstanding	0.0%	43.00	43.00	43.00	43.00	44.00
Minority Interest	14.0%	10.00	9.00	9.00	9.00	9.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	70.2%	161	95.00	106	79.00	105
Share Based Compensation	8.0%	11.00	11.00	11.00	12.00	12.00
Cashflow From Investing	34.1%	-59.30	-90.04	-84.79	-78.37	-87.84
Cashflow From Financing	37.4%	-56.17	-89.77	-113	-144	-169
Dividend Payments	3.0%	29.00	29.00	28.00	27.00	-
Buy Backs	-55.6%	20.00	45.00	60.00	91.00	119

Risks for LZB

What is the probability of a big loss on LZB?

78.1%

Probability that La-Z-Boy stock will be more than 20% underwater in next one year

39.2%

Probability that La-Z-Boy stock will be more than 30% underwater in next one year.

21.5%

Probability that La-Z-Boy stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does LZB drawdown profile look like?

Y-axis is the maximum loss one would have experienced if La-Z-Boy was unfortunately bought at previous high price.

Drawdowns

Returns for LZB

Cumulative Returns on LZB

4.8%

10-Year Cumulative Returns

1.6%

7-Year Cumulative Returns

-2.0%

5-Year Cumulative Returns

3.0%

3-Year Cumulative Returns

What are the long-term rolling returns for LZB?

FIve years rolling returns for La-Z-Boy.

Annualized Returns

Which funds bought or sold LZB recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-22	AMERIPRISE FINANCIAL INC	reduced	-2.94	1,764,650	9,223,650	-%
2023-05-18	JPMORGAN CHASE & CO	added	14.49	2,530,230	8,036,230	-%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	added	6.51	633,000	2,404,000	-%
2023-05-17	Thrivent Financial for Lutherans	reduced	-1.77	453,000	2,253,000	-%
2023-05-16	Rockefeller Capital Management L.P.	sold off	-100	-4,000	-	-%
2023-05-16	SUSQUEHANNA INTERNATIONAL GROUP, LLP	new	-	593,843	593,843	-%
2023-05-16	JANE STREET GROUP, LLC	new	-	288,997	288,997	-%
2023-05-15	Petrus Trust Company, LTA	unchanged	-	89,386	415,233	0.05%
2023-05-15	Belpointe Asset Management LLC	new	-	465	465	-%
2023-05-15	JANUS HENDERSON GROUP PLC	new	-	618,729	618,729	-%

Latest Funds Activity

Are funds buying LZB calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own LZB

No. of Funds

La-Z-Boy News

Schedule 13G FIlings of La-Z-Boy

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	11.84%	5,109,088	SC 13G/A
Feb 06, 2023	wellington management group llp	0.05%	22,564	SC 13G/A
Jan 26, 2023	blackrock inc.	16.3%	7,034,630	SC 13G/A
Jan 20, 2023	blackrock inc.	16.3%	7,034,630	SC 13G/A
Feb 14, 2022	silvercrest asset management group llc	4.7%	2,053,503	SC 13G/A
Feb 10, 2022	vanguard group inc	10.84%	4,758,021	SC 13G/A
Feb 08, 2022	dimensional fund advisors lp	5.5%	2,414,357	SC 13G/A
Feb 04, 2022	wellington management group llp	5.89%	2,586,282	SC 13G/A
Jan 27, 2022	blackrock inc.	16.0%	7,040,519	SC 13G/A
Jan 25, 2022	blackrock inc.	16.0%	7,040,519	SC 13G

LZB Fair Value

La-Z-Boy fair value in different scenarios

The table shows the Fair Value estimates for La-Z-Boy for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	45.23 67.89%	56.05 108.05%	75.22 179.21%	98.00 263.77%	133.20 394.43%
Current Inflation	41.55 54.23%	50.80 88.57%	66.97 148.59%	86.15 219.78%	115.89 330.18%
Very High Inflation	36.99 37.31%	44.43 64.92%	57.19 112.29%	72.31 168.41%	95.86 255.83%

Historical La-Z-Boy Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of La-Z-Boy

View All Filings

Date Filed	Form Type	Document
Apr 26, 2023	3	Insider Trading
Apr 25, 2023	4	Insider Trading
Mar 02, 2023	4	Insider Trading
Mar 02, 2023	3	Insider Trading
Feb 28, 2023	8-K	Current Report
Feb 21, 2023	8-K	Current Report
Feb 21, 2023	10-Q	Quarterly Report

Latest Insider Trading transactions for LZB

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-04-22	McCurry Jennifer Lynn	sold (taxes)	-1,214	28.25	-43.00	chief accounting officer
2023-01-27	Sundy Robert II	sold (taxes)	-28,008	27.54	-1,017	svp & chief commercial officer
2023-01-15	Leggett Michael Adam	sold (taxes)	-10,625	26.63	-399	sr vp & chief supply chain off
2023-01-07	Lucian Robert Gerard	sold (taxes)	-5,296	24.41	-217	sr. vice president & cfo
2022-08-01	McCurry Jennifer Lynn	sold (taxes)	-2,040	28.34	-72.00	chief accounting officer
2022-06-28	McCurry Jennifer Lynn	acquired	-	-	787	chief accounting officer
2022-06-28	Sawyer Otis S	acquired	-	-	7,103	senior vice president
2022-06-28	Whittington Melinda D	acquired	-	-	32,773	president & ceo
2022-06-28	Leggett Michael Adam	acquired	-	-	5,121	sr vp & chief supply chain off
2022-06-28	Richmond Raphaell Z.	acquired	-	-	4,424	vp, gc & chief compliance off

About La-Z-Boy

Melinda D. Whittington

www.la-z-boy.com

11500

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products in the United States, Canada, and internationally. It operates through Wholesale and Retail segments. The Wholesale segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas; and imports, distributes, and retails casegoods (wood) furniture, including occasional pieces, bedroom sets, dining room sets, and entertainment centers. This segment sells its products directly to La-Z-Boy Furniture Galleries stores, operators of La-Z-Boy Comfort Studio locations, England Custom Comfort Center locations, dealers, and other independent retailers. The Retail segment sells upholstered furniture, casegoods, and other accessories to the end consumer through its retail network. This segment operates a network of 159 company-owned La-Z-Boy Furniture Galleries stores. La-Z-Boy Incorporated also produces reclining chairs; and manufactures and distributes residential furniture. 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 based in Monroe, Michigan.

LZB Income Statement

2023-01-28

CONSOLIDATED STATEMENT OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 28, 2023	Jan. 22, 2022	Jan. 28, 2023	Jan. 22, 2022
Income Statement [Abstract]
Sales	$ 572,723	$ 571,573	$ 1,788,146	$ 1,672,245
Cost of sales	326,296	352,208	1,039,523	1,027,503
Gross profit	246,427	219,365	748,623	644,742
Selling, general and administrative expense	203,587	179,878	591,257	516,771
Operating income	42,840	39,487	157,366	127,971
Interest expense	(136)	(160)	(414)	(713)
Interest income	2,012	806	3,624	1,029
Other income (expense), net	(1,062)	(1,460)	(834)	(522)
Income before income taxes	43,654	38,673	159,742	127,765
Income tax expense	12,077	9,591	42,446	33,059
Net income	31,577	29,082	117,296	94,706
Net (income) loss attributable to noncontrolling interests	149	(615)	(1,005)	(2,157)
Net income attributable to La-Z-Boy Incorporated	$ 31,726	$ 28,467	$ 116,291	$ 92,549
Earnings Per Share, Basic [Abstract]
Basic weighted average common shares (in shares)	43,137	43,701	43,111	44,342
Basic net income attributable to La-Z-Boy Incorporated per share (in dollars per share)	$ 0.74	$ 0.65	$ 2.70	$ 2.09
Earnings Per Share, Diluted [Abstract]
Diluted weighted average common shares (in shares)	43,137	43,968	43,111	44,640
Diluted net income attributable to La-Z-Boy Incorporated per share (in dollars per share)	$ 0.74	$ 0.65	$ 2.70	$ 2.07

LZB Balance Sheet

2023-01-28

CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Jan. 28, 2023	Apr. 30, 2022
Current assets
Cash and equivalents	$ 280,763	$ 245,589
Restricted cash	3,282	3,267
Receivables, net of allowance of $4,228 at 1/28/2023 and $3,406 at 4/30/2022	137,593	183,747
Inventories, net	303,553	303,191
Other current assets	123,803	215,982
Total current assets	848,994	951,776
Property, plant and equipment, net	267,606	253,144
Goodwill	204,781	194,604
Other intangible assets, net	39,180	33,971
Deferred income taxes – long-term	11,199	10,632
Right of use lease assets	399,807	405,755
Other long-term assets, net	74,788	82,207
Total assets	1,846,355	1,932,089
Current liabilities
Accounts payable	86,882	104,025
Lease liabilities, short-term	77,142	75,271
Accrued expenses and other current liabilities	345,360	496,393
Total current liabilities	509,384	675,689
Lease liabilities, long-term	350,144	354,843
Other long-term liabilities	70,323	81,935
Shareholders' equity
Preferred shares – 5,000 authorized; none issued	0	0
Common shares, $1.00 par value – 150,000 authorized; 43,140 outstanding at 1/28/23 and 43,089 outstanding at 4/30/22	43,140	43,089
Capital in excess of par value	350,406	342,252
Retained earnings	518,732	431,181
Accumulated other comprehensive loss	(6,180)	(5,797)
Total La-Z-Boy Incorporated shareholders' equity	906,098	810,725
Noncontrolling interests	10,406	8,897
Total equity	916,504	819,622
Total liabilities and equity	$ 1,846,355	$ 1,932,089