Latest Ratios: P/E Ratio 5.4x · EV/EBITDA 6.3x · ROE 27.5%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.3B | $1.5B | $1.3B | $3.6B | $4.4B | $5.6B | $6.0B | $6.9B | $4.8B | $6.6B | $6.8B |
| Enterprise Value | $2.3B | $2.6B | $3.0B | $5.4B | $6.4B | $7.6B | $7.7B | $8.9B | $5.7B | $7.3B | $7.5B |
| P/E Ratio → | 5.44 | 6.51 | — | — | 14.20 | 14.00 | 23.82 | 20.58 | 15.86 | 22.41 | 17.71 |
| P/S Ratio | 0.31 | 0.38 | 0.30 | 0.75 | 0.85 | 1.11 | 1.41 | 1.45 | 1.13 | 1.66 | 1.82 |
| P/B Ratio | 1.26 | 1.50 | 1.91 | 2.67 | 2.68 | 3.41 | 4.33 | 5.24 | 4.18 | 5.50 | 6.24 |
| P/FCF | 4.47 | 5.47 | 5.88 | 9.30 | 12.90 | 34.16 | 11.22 | 13.11 | 17.26 | 23.05 | 15.97 |
| P/OCF | 3.71 | 4.54 | 4.31 | 7.17 | 9.97 | 20.74 | 9.99 | 10.30 | 11.01 | 14.77 | 12.38 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.64 | 0.69 | 1.14 | 1.24 | 1.49 | 1.81 | 1.88 | 1.35 | 1.85 | 2.01 |
| EV / EBITDA | 6.32 | 7.08 | 8.51 | 10.81 | 9.61 | 10.26 | 12.81 | 13.05 | 10.12 | 12.90 | 13.52 |
| EV / EBIT | 9.41 | 7.18 | — | — | 13.02 | 12.62 | 18.84 | 18.04 | 12.90 | 15.31 | 14.30 |
| EV / FCF | — | 9.27 | 13.46 | 14.08 | 18.67 | 45.86 | 14.42 | 16.98 | 20.47 | 25.60 | 17.55 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 18.1% | 18.1% | 17.1% | 18.1% | 19.0% | 20.5% | 21.1% | 21.5% | 20.8% | 22.0% | 24.0% |
| Operating Margin | 6.1% | 6.1% | 5.0% | 6.8% | 9.4% | 10.8% | 9.7% | 10.3% | 10.4% | 11.4% | 12.0% |
| Net Profit Margin | 5.8% | 5.8% | -11.7% | -2.9% | 6.0% | 7.9% | 5.9% | 6.6% | 7.2% | 7.4% | 10.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 27.5% | 27.5% | -50.5% | -9.2% | 18.8% | 26.5% | 18.7% | 25.4% | 26.0% | 25.6% | 35.0% |
| ROA | 6.5% | 6.5% | -12.3% | -2.8% | 5.9% | 8.0% | 5.3% | 7.7% | 8.9% | 9.0% | 13.0% |
| ROIC | 8.3% | 8.3% | 5.9% | 7.1% | 10.1% | 12.3% | 9.6% | 13.6% | 16.7% | 18.2% | 18.8% |
| ROCE | 8.9% | 8.9% | 7.1% | 8.4% | 11.8% | 14.2% | 10.9% | 15.2% | 17.2% | 18.5% | 19.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.62 | 1.62 | 2.97 | 1.65 | 1.39 | 1.39 | 1.48 | 1.74 | 1.01 | 1.05 | 0.88 |
| Debt / EBITDA | 4.50 | 4.50 | 5.78 | 4.40 | 3.45 | 3.11 | 3.42 | 3.34 | 2.06 | 2.22 | 1.72 |
| Net Debt / Equity | — | 1.04 | 2.46 | 1.37 | 1.20 | 1.17 | 1.23 | 1.55 | 0.78 | 0.61 | 0.62 |
| Net Debt / EBITDA | 2.90 | 2.90 | 4.79 | 3.66 | 2.97 | 2.62 | 2.84 | 2.97 | 1.59 | 1.29 | 1.22 |
| Debt / FCF | — | 3.80 | 7.58 | 4.77 | 5.78 | 11.69 | 3.20 | 3.87 | 3.21 | 2.55 | 1.58 |
| Interest Coverage | 4.96 | 4.96 | -4.93 | -0.96 | 5.72 | 7.82 | 4.96 | 5.45 | 7.31 | 10.93 | 13.55 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.25 | 2.25 | 2.00 | 1.49 | 2.02 | 1.55 | 1.60 | 1.66 | 1.87 | 1.84 | 1.88 |
| Quick Ratio | 1.45 | 1.45 | 1.14 | 0.84 | 1.09 | 0.80 | 0.96 | 0.97 | 1.09 | 1.23 | 1.14 |
| Cash Ratio | 0.76 | 0.76 | 0.41 | 0.29 | 0.33 | 0.27 | 0.35 | 0.27 | 0.33 | 0.56 | 0.40 |
| Asset Turnover | — | 1.15 | 1.20 | 1.02 | 0.99 | 0.96 | 0.90 | 0.99 | 1.26 | 1.12 | 1.26 |
| Inventory Turnover | 5.34 | 5.34 | 5.03 | 4.72 | 4.59 | 4.06 | 5.23 | 5.86 | 5.33 | 5.39 | 5.49 |
| Days Sales Outstanding | — | 42.80 | 46.58 | 49.23 | 47.87 | 46.88 | 48.06 | 45.46 | 48.87 | 55.08 | 47.36 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.1% | 1.8% | 10.3% | 6.7% | 5.2% | 3.9% | 3.5% | 3.0% | 4.0% | 2.8% | 2.6% |
| Payout Ratio | 11.5% | 11.5% | — | — | 74.0% | 54.2% | 83.6% | 65.2% | 63.3% | 63.4% | 46.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 18.4% | 15.4% | — | — | 7.0% | 7.1% | 4.2% | 4.9% | 6.3% | 4.5% | 5.6% |
| FCF Yield | 22.4% | 18.3% | 17.0% | 10.7% | 7.8% | 2.9% | 8.9% | 7.6% | 5.8% | 4.3% | 6.3% |
| Buyback Yield | 0.2% | 0.2% | 0.4% | 0.2% | 1.4% | 0.2% | 0.2% | 0.2% | 2.3% | 2.4% | 2.9% |
| Total Shareholder Yield | 2.3% | 1.9% | 10.7% | 6.9% | 6.6% | 4.1% | 3.7% | 3.2% | 6.3% | 5.2% | 5.5% |
| Shares Outstanding | — | $140M | $137M | $136M | $137M | $137M | $136M | $135M | $135M | $137M | $140M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying LEG stock.
Leggett & Platt, Incorporated's current P/E ratio is 5.4x. The historical average is 20.6x.
Leggett & Platt, Incorporated's current EV/EBITDA is 6.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.1x.
Leggett & Platt, Incorporated's return on equity (ROE) is 27.5%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 13.5%.
Based on historical data, Leggett & Platt, Incorporated is trading at a P/E of 5.4x. Compare with industry peers and growth rates for a complete picture.
Leggett & Platt, Incorporated's current dividend yield is 2.10% with a payout ratio of 11.5%.
Leggett & Platt, Incorporated has 18.1% gross margin and 6.1% operating margin.
Leggett & Platt, Incorporated's Debt/EBITDA ratio is 4.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Persistent revenue decline and high leverage
Metrics are mathematically derived from official filings.
Deep Value or Value Trap?
LEG trades at a P/E of 5.53 and EV/EBITDA of 6.37, well below peers, but forward P/E of 10.67 suggests market expects earnings normalization, per reported multiples.
The trailing P/E is distorted by the 2024Q2 loss, making forward multiples more indicative. At 10.67x forward earnings, the market is pricing in a recovery, but with revenue declining for eight consecutive quarters, the low multiples may reflect structural challenges rather than undervaluation. Compared to MHK's 22.5x P/E, LEG's discount appears justified by its weaker growth and higher leverage.
Margin Recovery Masks Volume Woes
Gross margin improved to 20.3% in 2026Q2 from 16.3% in 2024Q2, but operating margin at 8.0% remains below peers, as reported in financial statements.
The gross margin expansion suggests cost discipline or favorable mix, yet revenue has declined for eight straight quarters, indicating that margin gains are not translating into sustainable profitability. Operating margin of 8.0% is well below Allegion's 15.8% and Snap-on's 19.7%, highlighting competitive pressure. The 2024Q2 net loss of -53.3% was likely driven by non-recurring charges, but the recovery to 4.7% net margin in 2026Q2 remains fragile.
Returns on Capital Remain Subdued
ROIC has hovered between 1.4% and 2.9% over the past ten quarters, well below the cost of capital, as per reported figures, indicating value destruction.
Despite a recovery from the 2024Q2 trough, ROIC at 2.9% in 2026Q2 is far below the 18.1% seen at Allegion and Snap-on, suggesting that LEG is not generating adequate returns on its invested capital. The low ROIC is driven by both thin margins and asset turnover of 0.28, which is below the peer average. This implies that the company's asset base is not being utilized efficiently to generate profits.
Working Capital Efficiency Improves
Cash conversion cycle improved to 70 days in 2026Q2 from 82 days in 2024Q1, driven by lower DSO and DIO, as reported in financial statements.
The reduction in CCC from 82 to 70 days indicates better working capital management, with DSO down from 53 to 50 days and DIO from 81 to 74 days. However, DPO has remained relatively stable around 54 days, suggesting limited supplier leverage. Asset turnover of 0.28 is low, reflecting the capital-intensive nature of the business, but the improvement in CCC is a positive sign for cash generation.
Leverage Eases but Remains Elevated
D/E fell from 3.31 in 2024Q2 to 1.38 in 2026Q2, but D/EBITDA of 13.77 remains high, as per balance sheet data, indicating continued debt burden.
The significant deleveraging is encouraging, with total debt down from $2.3B to $1.5B, but D/EBITDA of 13.77 is still elevated compared to peers like MHK (not provided) and Sonoco (8.10). Interest coverage of 6.85 in 2026Q2 is adequate but was as low as 2.20 in 2024Q4, suggesting vulnerability to earnings shocks. The company appears to be managing debt reduction, but the high leverage relative to EBITDA warrants monitoring.
Liquidity Buffer Strengthens
Current ratio improved to 2.35 in 2026Q2 from 1.48 in 2024Q3, with cash rising to $545.8M, as reported in balance sheet data, providing a solid cushion.
The current ratio of 2.35 and quick ratio of 1.53 indicate a comfortable liquidity position, well above the 1.0 threshold. Cash has nearly doubled from $277.2M to $545.8M, which could support operations and debt service. However, the quick ratio of 1.53 suggests some reliance on inventory, which may be a risk if demand continues to decline. Overall, the liquidity position appears robust for the near term.
P/E Misleads in Cyclical Downturn
The trailing P/E of 5.53 is distorted by the 2024Q2 loss and may mislead investors; EV/EBITDA or P/FCF better capture LEG's earnings power, per reported data.
The P/E ratio is commonly misapplied to LEG because its earnings are highly volatile, with a -53.3% net margin in 2024Q2 followed by recovery. This makes the trailing P/E meaningless. Instead, EV/EBITDA of 6.37 and P/FCF of 4.54 provide a more stable view of valuation, but even these are low, reflecting the market's skepticism about sustainability. Investors should focus on normalized earnings and cash flow generation rather than the headline P/E.