La-Z-Boy Inc

STU : LAZ
USA·Consumer Cyclical·Furnishings, Fixtures & Appliances·Ordinary Shares
€25.40
+0.00 (+0.00%)Oct 15 close
Market Cap
€1.02B
Enterprise Value
€1.26B
P/E (TTM)
14.96
P/B
1.16
Net Cash / (Debt)
−€240M
52-Week Range
€25 — €36
5-Year Range
€21 — €46
Avg Volume (3M)
2.50K
ListingsSTUNYSE

La-Z-Boy makes and sells residential upholstered furniture — primarily recliners, sofas, sectionals, and related seating — in the U.S. and internationally.

The company operates in two segments: Wholesale, which manufactures and imports furniture and sells to independent dealers and its own retail network (the bulk of revenue); and Retail, which runs company-owned La-Z-Boy stores selling directly to consumers. It also sells wood/casegood furniture and home accessories through retail channels.

Customers are everyday homeowners buying furniture through retail stores or independent dealers.

Employees10,200IPONov 21, 2013SIC2512HQOne La-Z-Boy Drive, Monroe, MI, USA, 48162-5138
to

Financials (EUR)

Profitability

Metric
Current
Margins
Gross Margin
44.4%
Operating Margin
5.9%
EBITDA Margin
11.7%
Net Margin
3.9%
OCF Margin
8.7%
FCF Margin
4.8%
Returns on Capital
ROE
7.9%
ROA
4.1%
ROIC
6.8%
ROCE
7.1%
ROC (Greenblatt)
11.5%
3Y ROIIC
−20.5%
Consistency
Years Profitable / 10Y
10

Valuation

Metric
Current
Earnings Multiples
P/E (TTM)
14.96
Forward P/E
11.69
P/E ex-NRI
12.18
Shiller P/E (CAPE)
10.86
Cash Flow Multiples
P/FCF
11.96
P/OCF
6.62
P/Owner Earnings
13.49
FCF Yield
8.67%
Enterprise Value Multiples
EV / EBIT
13.18
EV / Forward EBIT
—
EV / EBITDA
5.93
EV / Forward EBITDA
—
EV / Revenue
0.70
EV / Forward Revenue
0.69
Asset / Sales
P/S
0.57
P/B
1.16
P/Tangible Book
1.71
Growth-Adjusted
PEG
6.76

Capital Returns

Metric
Current
Dividends
Dividend Yield (TTM)
3.28%
Forward Dividend Yield
3.27%
3Y Dividend Growth
10.1%
Payout Ratio
0.39
5Y Yield on Cost
7.11%
Buybacks & Dilution
3Y Buyback Ratio
2.30%
Combined
Shareholder Yield
3.99%

Balance Sheet

Metric
Current
Leverage
Debt / Equity
0.53
Gross Debt / EBITDA
2.19
Cash / Debt
0.49
Equity / Assets
0.51
Coverage
Interest Coverage
201.42
Short-Term Liquidity
Current Ratio
1.66
Quick Ratio
1.14
Cash Ratio
0.60
Composite Scores
Piotroski F-Score
5
Altman Z-Score
2.58

5-Step DuPont Analysis

ROE %
7.96%
Net Margin %
3.86%
Operating Margin %
5.90%
Operating Income
€107M
÷
Revenue
€1.81B
×
Tax Burden
0.7368
Net Income
€70M
÷
Pretax Income
€95M
×
Interest Burden
0.8879
Pretax Income
€95M
÷
Operating Income
€107M
×
Asset Turnover
1.07
Revenue
€1.81B
÷
Average Total Assets
€1.70B
Begin Total Assets
€1.65B
End Total Assets
€1.75B
×
Equity Multiplier
1.93
Avg Total Assets
€1.70B
÷
Avg Stockholders Equity
€879M
Begin Equity
€871M
End Equity
€887M