La-Z-Boy
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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. The last earnings update was 82 days ago. More info.
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LZB Share Price and Events
7 Day Returns
1 Year Returns
LZB Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| La-Z-Boy (LZB) | 7.1% | 4.2% | 13.1% | 7.9% | 24.5% | 24.5% |
| US Consumer Durables | 3.3% | 6.6% | 11.7% | -14.2% | 22.9% | 21% |
| US Market | 1.2% | 6.6% | 1.2% | 0.9% | 44.3% | 41.3% |
1 Year Return vs Industry and Market
- LZB outperformed the Consumer Durables industry which returned -14.2% over the past year.
- LZB outperformed the Market in United States of America which returned 0.9% over the past year.
Price Volatility
Related Companies
LZB Value
Is La-Z-Boy undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
La-Z-Boy
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for La-Z-Boy.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 4 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 9.6% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 7.3% |
| Consumer Durables Unlevered Beta | Simply Wall St/ S&P Global | 0.92 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.922 (1 + (1- 21%) (2.4%)) |
0.94 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.94 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.94 * 7.27%) |
9.56% |
Discounted Cash Flow Calculation for NYSE:LZB using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for La-Z-Boy is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.
| 2019 | 2020 | 2021 | 2022 | 2023 | |
| Levered FCF (USD, Millions) | 67.64 | 99.61 | 121.90 | 131.00 | 156.00 |
| Source | Analyst x2 | Analyst x2 | Analyst x1 | Analyst x1 | Analyst x1 |
|
Present Value Discounted (@ 9.56%) |
61.74 | 82.98 | 92.69 | 90.91 | 98.81 |
| Present value of next 5 years cash flows | $427.13 |
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2023
× (1 + g) ÷ (Discount Rate – g)
= $156.00 × (1 + 2.73%) ÷ (9.56% – 2.73%) |
$2,345.63 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)5
= $2,345.63 ÷ (1 + 9.56%)5 |
$1,485.78 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 5 years cash flows +
Terminal Value
= $427.13 + $1,485.78 |
$1,912.91 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $1,912.91 / 46.83 |
$40.84 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $40.84 |
| Current discount | Discount to share price of
$31.41
= -1 x ($31.41 - $40.84) / $40.84 |
23.1% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- La-Z-Boy's share price is below the future cash flow value, and at a moderate discount (> 20%).
- La-Z-Boy's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for La-Z-Boy's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
La-Z-Boy's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-10-27) in USD | $1.79 |
| NYSE:LZB Share Price ** | NYSE (2019-02-15) in USD | $31.41 |
| United States of America Consumer Durables Industry PE Ratio | Median Figure of 48 Publicly-Listed Consumer Durables Companies | 11.94x |
| United States of America Market PE Ratio | Median Figure of 3,045 Publicly-Listed Companies | 16.97x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of La-Z-Boy.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:LZB Share Price ÷ EPS (both in USD) = 31.41 ÷ 1.79 |
17.5x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- La-Z-Boy is overvalued based on earnings compared to the US Consumer Durables industry average.
- La-Z-Boy is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does
La-Z-Boy's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 17.5x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts |
11%per year |
| United States of America Consumer Durables Industry PEG Ratio | Median Figure of 37 Publicly-Listed Consumer Durables Companies | 1.04x |
| United States of America Market PEG Ratio | Median Figure of 2,115 Publicly-Listed Companies | 1.36x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 17.5x ÷ 11% |
1.59x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- La-Z-Boy is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
La-Z-Boy's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-10-27) in USD | $13.56 |
| NYSE:LZB Share Price * | NYSE (2019-02-15) in USD | $31.41 |
| United States of America Consumer Durables Industry PB Ratio | Median Figure of 70 Publicly-Listed Consumer Durables Companies | 1.4x |
| United States of America Market PB Ratio | Median Figure of 5,122 Publicly-Listed Companies | 1.82x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:LZB Share Price ÷ Book Value per Share (both in USD) = 31.41 ÷ 13.56 |
2.32x |
* Primary Listing of La-Z-Boy.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- La-Z-Boy is overvalued based on assets compared to the US Consumer Durables industry average.
Value checks
We assess La-Z-Boy's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Consumer Durables industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Consumer Durables industry average (and greater than 0)? (1 check) La-Z-Boy has a total score of 1/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
LZB Future Performance
How is La-Z-Boy expected to perform in the next 1 to 3 years based on estimates from 4 analysts?
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- La-Z-Boy's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- La-Z-Boy's earnings growth is positive but not above the United States of America market average.
- La-Z-Boy's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:LZB Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts | 11% |
| NYSE:LZB Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts | 4.8% |
| United States of America Consumer Durables Industry Earnings Growth Rate | Market Cap Weighted Average | 17.4% |
| United States of America Consumer Durables Industry Revenue Growth Rate | Market Cap Weighted Average | 5.1% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.3% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.1% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-04-30 | 2,076 | 201 | 140 | 1 |
| 2022-04-30 | 2,032 | 176 | 132 | 1 |
| 2021-04-30 | 1,928 | 167 | 117 | 1 |
| 2020-04-30 | 1,846 | 140 | 103 | 4 |
| 2019-04-30 | 1,748 | 119 | 93 | 4 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-10-27 | 1,658 | 111 | 84 |
| 2018-07-28 | 1,612 | 128 | 87 |
| 2018-04-28 | 1,584 | 116 | 80 |
| 2018-01-27 | 1,577 | 146 | 74 |
| 2017-10-28 | 1,553 | 145 | 85 |
| 2017-07-29 | 1,536 | 132 | 83 |
| 2017-04-29 | 1,520 | 148 | 86 |
| 2017-01-28 | 1,524 | 136 | 80 |
| 2016-10-29 | 1,518 | 145 | 79 |
| 2016-07-30 | 1,525 | 147 | 79 |
| 2016-04-30 | 1,525 | 115 | 79 |
| 2016-01-23 | 1,483 | 101 | 76 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
All data from La-Z-Boy Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-04-30 | 3.07 | 3.07 | 3.07 | 1.00 |
| 2022-04-30 | 2.87 | 2.87 | 2.87 | 1.00 |
| 2021-04-30 | 2.52 | 2.52 | 2.52 | 1.00 |
| 2020-04-30 | 2.20 | 2.24 | 2.11 | 4.00 |
| 2019-04-30 | 1.98 | 2.00 | 1.94 | 4.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2018-10-27 | 1.79 |
| 2018-07-28 | 1.84 |
| 2018-04-28 | 1.69 |
| 2018-01-27 | 1.55 |
| 2017-10-28 | 1.76 |
| 2017-07-29 | 1.71 |
| 2017-04-29 | 1.75 |
| 2017-01-28 | 1.63 |
| 2016-10-29 | 1.59 |
| 2016-07-30 | 1.59 |
| 2016-04-30 | 1.57 |
| 2016-01-23 | 1.50 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess La-Z-Boy's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
La-Z-Boy has a total score of 1/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
LZB Past Performance
How has La-Z-Boy performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- La-Z-Boy's year on year earnings growth rate has been positive over the past 5 years.
- La-Z-Boy's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- La-Z-Boy's 1-year earnings growth is negative, it can't be compared to the US Consumer Durables industry average.
Earnings and Revenue History
All data from La-Z-Boy Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-10-27 | 1,657.69 | 84.26 | 512.31 | 7.90 |
| 2018-07-28 | 1,611.56 | 87.09 | 488.89 | 7.90 |
| 2018-04-28 | 1,583.95 | 80.46 | 486.44 | 7.90 |
| 2018-01-27 | 1,576.63 | 74.28 | 489.37 | 8.00 |
| 2017-10-28 | 1,552.98 | 85.41 | 487.31 | 8.00 |
| 2017-07-29 | 1,536.36 | 83.36 | 479.73 | 8.00 |
| 2017-04-29 | 1,520.06 | 85.50 | 467.96 | 8.00 |
| 2017-01-28 | 1,524.42 | 80.25 | 468.49 | 6.30 |
| 2016-10-29 | 1,518.45 | 78.88 | 458.46 | 6.30 |
| 2016-07-30 | 1,524.76 | 78.99 | 455.34 | 6.30 |
| 2016-04-30 | 1,525.40 | 78.85 | 447.85 | 6.30 |
| 2016-01-23 | 1,483.27 | 75.95 | 425.99 | 8.00 |
| 2015-10-24 | 1,457.13 | 71.88 | 415.42 | 8.00 |
| 2015-07-25 | 1,439.84 | 70.18 | 402.71 | 8.00 |
| 2015-04-25 | 1,425.40 | 67.08 | 395.23 | 6.10 |
| 2015-01-24 | 1,403.48 | 61.95 | 385.24 | 7.90 |
| 2014-10-25 | 1,392.13 | 61.58 | 378.71 | 7.90 |
| 2014-07-26 | 1,378.80 | 59.49 | 375.57 | 7.90 |
| 2014-04-26 | 1,357.32 | 58.43 | 367.26 | 7.90 |
| 2014-01-25 | 1,332.33 | 62.37 | 362.15 | 7.20 |
| 2013-10-26 | 1,326.01 | 61.57 | 355.50 | 7.20 |
| 2013-07-27 | 1,277.88 | 50.85 | 346.62 | 7.20 |
| 2013-04-27 | 1,273.88 | 45.73 | 341.90 | 7.20 |
| 2013-01-26 | 1,273.24 | 46.46 | 337.88 | 7.70 |
| 2012-10-27 | 1,249.54 | 44.60 | 331.20 | 7.70 |
| 2012-07-28 | 1,253.08 | 45.99 | 327.06 | 7.70 |
| 2012-04-28 | 1,166.71 | 81.41 | 314.47 | 7.30 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- La-Z-Boy has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- La-Z-Boy used its assets more efficiently than the US Consumer Durables industry average last year based on Return on Assets.
- La-Z-Boy's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess La-Z-Boy's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Consumer Durables industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
La-Z-Boy has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
LZB Health
How is La-Z-Boy's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up La-Z-Boy's finances.
The net worth of a company is the difference between its assets and liabilities.
- La-Z-Boy is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- La-Z-Boy's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 15.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from La-Z-Boy Company Filings, last reported 3 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-10-27 | 649.23 | 35.31 | 110.14 |
| 2018-07-28 | 626.66 | 0.36 | 149.73 |
| 2018-04-28 | 625.22 | 13.62 | 150.69 |
| 2018-01-27 | 602.84 | 0.48 | 151.36 |
| 2017-10-28 | 604.36 | 0.55 | 137.48 |
| 2017-07-29 | 603.00 | 0.45 | 136.35 |
| 2017-04-29 | 601.11 | 14.52 | 158.77 |
| 2017-01-28 | 586.93 | 0.59 | 126.01 |
| 2016-10-29 | 572.18 | 0.65 | 121.44 |
| 2016-07-30 | 558.23 | 0.71 | 131.84 |
| 2016-04-30 | 557.21 | 0.80 | 127.68 |
| 2016-01-23 | 551.21 | 0.86 | 110.10 |
| 2015-10-24 | 543.37 | 4.97 | 84.97 |
| 2015-07-25 | 532.58 | 1.09 | 99.22 |
| 2015-04-25 | 533.10 | 8.13 | 115.07 |
| 2015-01-24 | 530.96 | 0.38 | 118.21 |
| 2014-10-25 | 531.93 | 0.44 | 136.13 |
| 2014-07-26 | 527.09 | 0.58 | 134.01 |
| 2014-04-26 | 529.72 | 7.77 | 165.56 |
| 2014-01-25 | 519.32 | 7.92 | 152.21 |
| 2013-10-26 | 510.33 | 8.09 | 147.25 |
| 2013-07-27 | 494.59 | 7.96 | 147.10 |
| 2013-04-27 | 491.97 | 8.09 | 142.99 |
| 2013-01-26 | 478.81 | 7.63 | 119.58 |
| 2012-10-27 | 464.52 | 7.74 | 95.21 |
| 2012-07-28 | 452.70 | 7.78 | 116.16 |
| 2012-04-28 | 447.82 | 9.76 | 152.37 |
- La-Z-Boy's level of debt (5.4%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has increased over the past 5 years (1.6% vs 5.4% today).
- Debt is well covered by operating cash flow (313.3%, greater than 20% of total debt).
- La-Z-Boy earns more interest than it pays, coverage of interest payments is not a concern.
Financial health checks
We assess La-Z-Boy's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) La-Z-Boy has a total score of 5/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
LZB Dividends
What is La-Z-Boy's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
La-Z-Boy
shares you are expected to receive
$31
in your first year as a dividend.
Dividend Amount
- La-Z-Boy's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.43%).
- La-Z-Boy's dividend is below the markets top 25% of dividend payers in United States of America (3.59%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
| United States of America Consumer Durables Industry Average Dividend Yield | Market Cap Weighted Average of 21 Stocks | 2.2% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 1998 Stocks | 2.5% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.6% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-04-30 | 0.84 | 1.00 |
| 2022-04-30 | 0.76 | 1.00 |
| 2021-04-30 | 0.68 | 1.00 |
| 2020-04-30 | 0.60 | 1.00 |
| 2019-04-30 | 0.52 | 1.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2018-08-28 | 0.480 | 1.640 |
| 2018-05-01 | 0.480 | 1.532 |
| 2018-02-23 | 0.480 | 1.592 |
| 2017-08-29 | 0.440 | 1.544 |
| 2017-05-09 | 0.440 | 1.489 |
| 2017-02-21 | 0.440 | 1.600 |
| 2016-08-24 | 0.400 | 1.471 |
| 2016-05-03 | 0.400 | 1.447 |
| 2016-02-17 | 0.400 | 1.559 |
| 2015-08-19 | 0.320 | 1.266 |
| 2015-05-04 | 0.320 | 1.216 |
| 2014-11-18 | 0.320 | 1.207 |
| 2014-08-20 | 0.240 | 1.117 |
| 2014-04-29 | 0.240 | 1.034 |
| 2014-02-20 | 0.240 | 0.922 |
| 2013-11-19 | 0.240 | 0.843 |
| 2013-08-21 | 0.160 | 0.704 |
| 2013-04-30 | 0.160 | 0.806 |
| 2013-02-19 | 0.160 | 0.882 |
| 2012-11-28 | 0.160 | 1.076 |
| 2010-11-24 | 0.000 | 0.000 |
| 2010-11-22 | 0.000 | 0.000 |
| 2010-08-17 | 0.000 | 0.000 |
| 2010-06-14 | 0.000 | 0.000 |
| 2010-02-16 | 0.000 | 0.000 |
| 2009-11-17 | 0.000 | 0.000 |
| 2009-08-18 | 0.000 | 0.000 |
| 2009-02-19 | 0.000 | 0.000 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
La-Z-Boy's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are well covered by earnings (3.7x coverage).
- Dividends after 3 years are expected to be well covered by earnings (3.7x coverage).
Income/ dividend checks
We assess La-Z-Boy's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can La-Z-Boy afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) La-Z-Boy has a total score of 5/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
LZB Management
CEO
| COMPENSATION | $4,433,701 |
| AGE | 63 |
| TENURE AS CEO | 15.4 years |
CEO Bio
Mr. Kurt L. Darrow has been the President and Chief Executive Officer at La-Z-Boy Inc. since September 9, 2003. Mr. Darrow served as the President of La-Z-Boy Residential, flagship brand and largest division of La-z-boy Inc. from 2001 to 2003. He served as Senior Vice President of Sales & Marketing of La-z-boy Inc. and served as its Vice President, Sales for nearly 12 years. Mr. Darrow played a pivotal role in the successful introduction and evolution of La-z-boy Inc.'s proprietary distribution system. He served as Chairman at American Home Furnishings Alliance since 2008. He serves as Vice Chairman on the Board of Mercy Memorial Hospital in Monroe. He has been an Independent Director of CMS Energy Corporation and Consumers Energy Company since November 15, 2013. He serves as a Director of Business Leaders for Michigan. Mr. Darrow has been the Chairman of the Board of La-z-boy Inc. since August 24, 2011. Mr. Darrow has been an Executive Director of La-Z-Boy Inc. since 2003. He serves as a Trustee at ProMedica and Chairman of the ProMedica Monroe Regional Hospital Board of Trustees. He served as a Director of American Home Furnishings Alliance, Inc. and serves as its Director Emeritus He was a Trustee of Adrian College. He was a Member of the Board of Trustees of Adrian from 2002 to 2011. He holds a Bachelor of Arts degree in Business Administration from Adrian College.
CEO Compensation
- Kurt's compensation has been consistent with company performance over the past year.
- Kurt's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the La-Z-Boy management team in years:
- The tenure for the La-Z-Boy management team is about average.
Management Team
Kurt Darrow
Chairman
$4M
63
15.4 yrs
Otis Sawyer
Senior VP & President of La-Z-Boy Portfolio Brands
$1M
60
11 yrs
Doug Collier
Senior VP
$1M
51
11.8 yrs
Darrell Edwards
Chief Supply Chain Officer & Senior VP
$1M
54
4.5 yrs
Melinda Whittington
Senior VP & CFO
50
0.7 yrs
Lindsay Barnes
VP, Corporate Controller & Chief Accounting Officer
40
1.5 yrs
David Behen
Chief Information Officer & VP
1.7 yrs
Kathy Liebmann
Director of Investor Relations & Corporate Communications
13.5 yrs
Steve Krull
VP, General Counsel & Corporate Secretary
53
0.1 yrs
Katie Vanderjagt
Chief Human Resources Officer
0.5 yrs
Board of Directors Tenure
Average tenure and age of the La-Z-Boy board of directors in years:
- The tenure for the La-Z-Boy board of directors is about average.
Board of Directors
Nido Qubein
Independent Director
$203K
69
13.1 yrs
Kurt Darrow
Chairman
$4M
63
7.5 yrs
Ed Holman
Independent Director
$202K
71
9.1 yrs
Mike Lawton
Independent Director
$195K
59
5.5 yrs
W. McCollough
Lead Director
$223K
68
3.5 yrs
H. Levy
Independent Director
$193K
68
22.1 yrs
Janet Kerr
Independent Director
$191K
63
10 yrs
Sarah Gallagher
Director
$171K
66
2.5 yrs
Lauren Peters
Director
$171K
56
2.5 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 20. Sep 18 | Sell | J. Collier | Individual | 18. Sep 18 | 18. Sep 18 | -5,000 | $31.66 | $-158,275 | ||
| 27. Feb 18 | Sell | Louis Riccio | Individual | 22. Feb 18 | 22. Feb 18 | -30,000 | $31.71 | $-951,255 | ||
Management checks
We assess La-Z-Boy's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) La-Z-Boy has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
LZB News
Simply Wall St News
Does La-Z-Boy Incorporated (NYSE:LZB) Have A Particularly Volatile Share Price?
Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful. … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one.
Simply Wall St - – Full articleWhy La-Z-Boy Incorporated’s (NYSE:LZB) Cash Is A Factor You Need To Consider
Two important questions to ask before you buy La-Z-Boy Incorporated (NYSE:LZB) is, how it makes money and how it spends its cash. … I’ve analysed below, the health and outlook of La-Z-Boy’s cash flow, which will help you understand the stock from a cash standpoint. … La-Z-Boy’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure
Simply Wall St - – Full articleHave Insiders Been Selling La-Z-Boy Incorporated (NYSE:LZB) Shares?
We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … So shareholders might well want to know whether insiders have been buying or selling shares in La-Z-Boy Incorporated (NYSE:LZB). … It is perfectly legal for company insiders, including board members, to buy and sell stock in a company.
Simply Wall St - – Full articleWith A Return On Equity Of 13%, Has La-Z-Boy Incorporated's (NYSE:LZB) Management Done Well?
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … That means that for every $1 worth of shareholders' equity, it generated $0.13 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleA Close Look At La-Z-Boy Incorporated’s (NYSE:LZB) 17% ROCE
In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Understanding Return On Capital Employed (ROCE). … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.
Simply Wall St - – Full articleIs La-Z-Boy Incorporated's (NYSE:LZB) Stock Available For A Good Price After Accounting For Growth?
La-Z-Boy Incorporated (NYSE:LZB) is considered a high growth stock. … However its last closing price of $25.35 left investors wondering whether this growth has already been factored into the share price. … According to the analysts covering the company, the following few years should bring about good growth prospects for La-Z-Boy
Simply Wall St - – Full articleAn Intrinsic Calculation For La-Z-Boy Incorporated (NYSE:LZB) Shows It's 41.55% Undervalued
In this article I am going to calculate the intrinsic value of La-Z-Boy Incorporated (NYSE:LZB). … by taking the expected future cash flows and discounting them to today's value. … Discounted Cash Flows (DCF).
Simply Wall St - – Full articleIs Now The Time To Look At Buying La-Z-Boy Incorporated (NYSE:LZB)?
saw significant share price volatility over the past couple of months on the NYSE, rising to the highs of $33.2 and falling to the lows of $27.06. … A question to answer is whether La-Z-Boy's current trading price of $27.06 reflective of the actual value of the? … Let’s take a look at La-Z-Boy’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change
Simply Wall St - – Full article4 Days Left Until La-Z-Boy Incorporated (NYSE:LZB) Trades Ex-Dividend
If you are interested in cashing in on La-Z-Boy Incorporated's (NYSE:LZB) upcoming dividend of US$0.13 per share, you only have 4 days left to buy the shares before its ex-dividend date, 07 December 2018, in time for dividends payable on the 20 December 2018. … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I examine La-Z-Boy's latest financial data to analyse its dividend characteristics. … Whenever I am looking at a potential dividend stock investment, I always check these five metrics:?
Simply Wall St - – Full articleWhat Are Analysts Saying About La-Z-Boy Incorporated's (NYSE:LZB) Future?
After La-Z-Boy Incorporated's (NYSE:LZB) earnings announcement in July 2018,. … in-line with historical trends, with earnings growth rate expected to be 9.0% in the upcoming year, relative to the past five-year average earnings growth of 8.7% per year
Simply Wall St - – Full articleLZB Company Info
Map
Description
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 Upholstery, Casegoods, and Retail segments. The Upholstery segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas. This segment sells its products directly to La-Z-Boy Furniture Galleries stores, operators of Comfort Studios and England custom comfort center locations, dealers, and other independent retailers. The Casegoods segment imports, markets, and distributes casegoods (wood) furniture, including bedroom sets, dining room sets, entertainment centers, and occasional pieces, as well as manufactures upholstered furniture. This segment sells its products to dealers, La-Z-Boy Furniture Galleries stores, and other independent retailers under the American Drew, Hammary, and Kincaid brands. The Retail segment sells upholstered furniture, casegoods, and other accessories to the end consumer through its retail network. This segment operates a network of 350 La-Z-Boy Furniture Galleries stores and 535 Comfort Studio locations, as well as in-store programs with 542 outlets in Kincaid and England. 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.
Details
| Name: | La-Z-Boy Incorporated |
| LZB | |
| Exchange: | NYSE |
| Founded: | 1927 |
| $1,471,039,292 | |
| 46,833,470 | |
| Website: | http://www.la-z-boy.com |
| Address: |
La-Z-Boy Incorporated One La-Z-Boy Drive, Monroe, Michigan, 48162, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | LZB | Common Shares | New York Stock Exchange | US | USD | 14. Dec 1972 | |
| DB | LAZ | Common Shares | Deutsche Boerse AG | DE | EUR | 14. Dec 1972 |
Number of employees
Current staff
Industry
| Home Furnishings | |
| Consumer Durables |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/02/18 01:28 |
| End of day share price update: | 2019/02/15 00:00 |
| Last estimates confirmation: | 2018/12/17 |
| Last earnings filing: | 2018/11/28 |
| Last earnings reported: | 2018/10/27 |
| Last annual earnings reported: | 2018/04/28 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
