La-Z-Boy Incorporated (LZB) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+54.6%

$49.17

vs $31.81 price

Levered DCF

$23.79

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.64

Grey zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	14.22×	16.53×	11.48×	8.1×	7.71×	19.25×	14.04×	22.47×
P/B	1.38×	1.61×	1.4×	1.3×	1.43×	2.64×	1.55×	2.25×
P/S	0.68×	0.78×	0.69×	0.52×	0.49×	1.18×	0.64×	0.88×
EV / EBITDA	5.99×	6.66×	5.32×	4.1×	4.19×	11.16×	5.06×	8.88×
Gross margin	44.0%	43.9%	43.1%	42.9%	37.3%	42.7%	42.3%	40.3%
Operating margin	6.1%	6.4%	7.4%	9.0%	8.8%	7.9%	7.0%	7.4%
Net margin	4.8%	4.7%	6.0%	6.4%	6.4%	6.1%	4.5%	3.9%
Current ratio	1.8×	1.91×	1.91×	1.8×	1.41×	1.51×	1.79×	2.27×
Debt / equity	0.54×	0.48×	0.48×	0.47×	0.53×	0.47×	0.58×	0×
Interest coverage	246.58×	249.24×	331.42×	394.48×	231.01×	98.37×	91.99×	84.09×
Dividend yield	2.6%	2.1%	2.3%	2.4%	2.4%	0.8%	2.3%	1.5%
Payout ratio	37.2%	35.1%	26.6%	19.8%	18.5%	15.5%	32.4%	34.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	9.7%	9.8%	12.2%	16.0%	18.5%	13.8%	11.1%	10.0%
Return on invested capital	5.6%	5.9%	7.3%	10.6%	10.4%	7.4%	6.7%	11.6%
Return on assets	5.0%	5.2%	6.4%	8.1%	7.3%	5.6%	5.4%	6.5%
Free cash flow yield	8.8%	6.9%	7.4%	11.2%	0.2%	13.3%	10.9%	6.7%
Earnings yield	7.0%	6.1%	8.7%	12.4%	13.0%	5.2%	7.1%	4.5%
Enterprise value	$1.7B	$1.8B	$1.5B	$1.3B	$1.3B	$2B	$1.2B	$1.4B
Net debt / EBITDA	0.91×	0.6×	0.48×	0.32×	0.57×	-0.18×	0.61×	-0.82×
Cash conversion cycle (days)	58	73	83	72	99	78	68	76