Latest Ratios: P/E Ratio 12.1x · EV/EBITDA 8.3x · ROE 9.7%. (1997–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.2B | $1.5B | $1.7B | $1.4B | $1.2B | $1.2B | $2.1B | $1.1B | $1.6B | $1.4B | $1.4B |
| Enterprise Value | $1.5B | $1.7B | $1.8B | $1.6B | $1.3B | $1.3B | $2.0B | $1.2B | $1.4B | $1.3B | $1.2B |
| P/E Ratio → | 12.11 | 14.33 | 16.81 | 11.60 | 8.26 | 7.75 | 19.33 | 14.13 | 22.62 | 17.14 | 16.13 |
| P/S Ratio | 0.56 | 0.69 | 0.79 | 0.69 | 0.53 | 0.49 | 1.19 | 0.64 | 0.89 | 0.88 | 0.91 |
| P/B Ratio | 1.16 | 1.38 | 1.62 | 1.40 | 1.30 | 1.42 | 2.64 | 1.53 | 2.23 | 2.22 | 2.30 |
| P/FCF | 9.36 | 11.45 | 14.80 | 13.59 | 9.11 | 480.22 | 7.58 | 9.27 | 15.17 | 17.46 | 10.81 |
| P/OCF | 5.86 | 7.17 | 8.93 | 8.99 | 6.05 | 14.73 | 6.65 | 6.67 | 10.30 | 11.98 | 9.33 |
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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.81 | 0.87 | 0.76 | 0.57 | 0.57 | 1.17 | 0.73 | 0.82 | 0.79 | 0.82 |
| EV / EBITDA | 8.25 | 9.76 | 7.07 | 5.67 | 4.10 | 5.46 | 11.95 | 8.30 | 8.85 | 7.77 | 7.76 |
| EV / EBIT | 11.28 | 11.19 | 12.43 | 9.40 | 6.52 | 6.52 | 13.78 | 8.55 | 11.19 | 9.67 | 9.40 |
| EV / FCF | — | 13.49 | 16.24 | 14.94 | 9.86 | 554.99 | 7.46 | 10.52 | 13.91 | 15.77 | 9.70 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.0% | 44.0% | 43.9% | 43.1% | 42.9% | 37.3% | 42.7% | 42.3% | 40.3% | 39.3% | 39.9% |
| Operating Margin | 6.1% | 6.1% | 6.4% | 7.4% | 9.0% | 8.8% | 7.9% | 7.0% | 7.4% | 8.2% | 8.6% |
| Net Profit Margin | 4.8% | 4.8% | 4.7% | 6.0% | 6.4% | 6.4% | 6.1% | 4.5% | 3.9% | 5.1% | 5.7% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.7% | 9.7% | 9.7% | 12.5% | 17.0% | 18.7% | 14.2% | 11.0% | 10.4% | 13.2% | 14.8% |
| ROA | 5.1% | 5.1% | 5.2% | 6.5% | 7.7% | 7.6% | 6.4% | 6.2% | 7.0% | 9.1% | 10.2% |
| ROIC | 7.7% | 7.7% | 8.7% | 10.2% | 15.4% | 17.7% | 12.7% | 12.4% | 18.4% | 20.4% | 21.6% |
| ROCE | 8.3% | 8.3% | 9.1% | 10.5% | 15.2% | 15.4% | 11.5% | 12.5% | 16.9% | 18.5% | 19.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.53 | 0.53 | 0.48 | 0.48 | 0.47 | 0.52 | 0.46 | 0.57 | 0.00 | 0.00 | 0.00 |
| Debt / EBITDA | 3.19 | 3.19 | 1.89 | 1.75 | 1.36 | 1.74 | 2.14 | 2.73 | 0.00 | 0.00 | 0.00 |
| Net Debt / Equity | — | 0.25 | 0.16 | 0.14 | 0.11 | 0.22 | -0.04 | 0.21 | -0.19 | -0.21 | -0.24 |
| Net Debt / EBITDA | 1.48 | 1.48 | 0.63 | 0.51 | 0.31 | 0.74 | -0.19 | 0.99 | -0.81 | -0.83 | -0.88 |
| Debt / FCF | — | 2.04 | 1.44 | 1.34 | 0.75 | 74.78 | -0.12 | 1.25 | -1.27 | -1.69 | -1.11 |
| Interest Coverage | 294.03 | 294.03 | 270.97 | 365.29 | 384.93 | 230.67 | 105.97 | 112.63 | 82.49 | 240.57 | 122.85 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.80 | 1.80 | 1.91 | 1.91 | 1.80 | 1.41 | 1.51 | 1.79 | 2.27 | 2.86 | 2.60 |
| Quick Ratio | 1.29 | 1.29 | 1.31 | 1.31 | 1.22 | 0.96 | 1.14 | 1.27 | 1.44 | 1.84 | 1.72 |
| Cash Ratio | 0.71 | 0.71 | 0.79 | 0.80 | 0.74 | 0.39 | 0.68 | 0.75 | 0.63 | 0.83 | 0.80 |
| Asset Turnover | — | 1.04 | 1.10 | 1.07 | 1.26 | 1.14 | 0.91 | 1.19 | 1.65 | 1.77 | 1.71 |
| Inventory Turnover | 5.45 | 5.45 | 4.63 | 4.43 | 4.85 | 4.87 | 4.40 | 5.41 | 5.30 | 5.20 | 5.22 |
| Days Sales Outstanding | — | 22.49 | 24.15 | 31.16 | 26.48 | 49.98 | 29.33 | 21.28 | 29.96 | 35.50 | 36.22 |
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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.1% | 2.6% | 2.1% | 2.3% | 2.4% | 2.4% | 0.8% | 2.3% | 1.5% | 1.6% | 1.5% |
| Payout Ratio | 37.2% | 37.2% | 35.1% | 26.6% | 19.8% | 18.5% | 15.5% | 32.4% | 34.3% | 27.2% | 24.0% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.3% | 7.0% | 5.9% | 8.6% | 12.1% | 12.9% | 5.2% | 7.1% | 4.4% | 5.8% | 6.2% |
| FCF Yield | 10.7% | 8.7% | 6.8% | 7.4% | 11.0% | 0.2% | 13.2% | 10.8% | 6.6% | 5.7% | 9.3% |
| Buyback Yield | 3.9% | 3.2% | 4.7% | 3.7% | 0.4% | 7.8% | 2.1% | 4.0% | 1.5% | 4.1% | 2.6% |
| Total Shareholder Yield | 7.0% | 5.8% | 6.7% | 6.0% | 2.8% | 10.2% | 2.9% | 6.2% | 3.0% | 5.7% | 4.1% |
| Shares Outstanding | — | $41M | $42M | $43M | $43M | $44M | $46M | $47M | $47M | $48M | $49M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying LZB stock.
La-Z-Boy Incorporated's current P/E ratio is 12.1x. The historical average is 22.4x. This places it at the 19th percentile of its historical range.
La-Z-Boy Incorporated's current EV/EBITDA is 8.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.0x.
La-Z-Boy Incorporated's return on equity (ROE) is 9.7%. The historical average is 9.1%.
Based on historical data, La-Z-Boy Incorporated is trading at a P/E of 12.1x. This is at the 19th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
La-Z-Boy Incorporated's current dividend yield is 3.07% with a payout ratio of 37.2%.
La-Z-Boy Incorporated has 44.0% gross margin and 6.1% operating margin.
La-Z-Boy Incorporated's Debt/EBITDA ratio is 3.2x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Cyclical housing market sensitivity
Metrics are mathematically derived from official filings.
Market Pricing Reflects Cyclical Caution
According to current market data, LZB trades at a forward P/E of 15.74, suggesting that investors are pricing in a cautious outlook for the furniture sector despite the company's ongoing efforts to capture higher margins through its vertically integrated retail strategy and the Century Vision initiative.
The current EV/EBITDA multiple of 13.59 appears to reflect a valuation gap where the market treats the firm as a traditional manufacturer rather than a hybrid retailer. This valuation may overlook the potential for margin expansion, though the high PEG ratio of 11.54 indicates that current growth expectations are quite muted relative to the price paid.
Capital Efficiency Constrained by Scale
Based on reported financial statements, LZB's ROIC has remained in a narrow range between 1.4% and 3.3% over the last ten quarters, indicating that the company is currently struggling to generate returns that significantly exceed its cost of capital in the current high-interest-rate environment.
The modest ROIC trend suggests that the capital-intensive nature of the retail expansion is currently diluting overall returns. Investors should monitor whether the shift toward company-owned stores can eventually drive higher asset turnover, as current returns appear insufficient to justify aggressive capital deployment without a clear path to margin improvement.
Working Capital Cycles Remain Volatile
As reported in recent filings, the company's cash conversion cycle has fluctuated between 55 and 87 days over the last ten quarters, highlighting the inherent difficulty in managing inventory levels across a complex, vertically integrated manufacturing and retail network during periods of uneven consumer demand.
The variability in the CCC is largely driven by shifts in days inventory outstanding, which peaked at 91 days in 2025Q3. This suggests that the company's retail-wholesale hybrid model may be prone to inventory bloat when sales velocity slows, necessitating careful monitoring of future inventory management efficiency.
Misapplication of Traditional Manufacturing Metrics
Analysts frequently misapply the P/S ratio to LZB, which obscures the fundamental shift in the company's business model toward a higher-margin, retail-centric structure that inherently carries different revenue recognition and cost profiles than a pure-play wholesale furniture manufacturer.
Relying on P/S fails to account for the fact that retail revenue captures the full consumer price, whereas wholesale revenue does not. A more appropriate metric for this business model would be operating margin per store or return on invested capital specifically segmented by the retail division to better assess the success of the Century Vision strategy.