# La-Z-Boy Incorporated (LZB)

> Source: Nexqual · https://nexqual.com/LZB · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, La-Z-Boy Incorporated (LZB), nexqual.com/LZB" · informational, not investment advice.

**Price:** USD 30.4 (+6.00% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 28.68 · day 28.83–30.45 · 52w 28.39–44.9 · market cap $1.22B · NYQ

## Key facts
- Last four reported quarters (through Jul 25, 2026): revenue $2.11B, net income $81.5M (3.9% margin), free cash flow $102M (SEC filings).
- Valuation: P/E 14.9x (avg 14.2x at the last 3 fiscal year-ends).
- Analysts: Hold (mean 2.50 on a 1–5 scale) (2 analysts), mean target USD 41 (range 40–42).
- Total return with dividends: 1Y -5.0% vs S&P 500 +14.9%; 5Y +1.0% vs S&P 500 +80.3%.
- Next earnings: 2026-11-17, EPS estimate USD 0.48, revenue estimate $505M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.36B | $2.35B | $2.05B | $2.11B | $2.13B | $2.11B |
| Gross profit | $880M | $965M | $882M | $926M | $937M | — |
| Operating income | $207M | $211M | $151M | $136M | $129M | $105M |
| Net income | $150M | $151M | $123M | $99.6M | $102M | $81.5M |
| EPS (diluted) | $3.39 | $3.48 | $2.83 | $2.35 | $2.47 | — |
| Free cash flow | $2.4M | $136M | $105M | $113M | $128M | $102M |
| Gross margin | 37.3% | 41.1% | 43.1% | 43.9% | 44.0% | — |
| Operating margin | 8.8% | 9.0% | 7.4% | 6.4% | 6.1% | 5.0% |
| Net margin | 6.4% | 6.4% | 6.0% | 4.7% | 4.8% | 3.9% |
| Revenue growth | +35.9% | -0.3% | -12.9% | +3.0% | +0.8% | — |
| Cash + short-term investments | $246M | $343M | $341M | $328M | $303M | — |
Fiscal years end Apr. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jul 25, 2026)
P/E 14.9x · P/S 0.6x · P/FCF 11.9x · P/B 1.2x · FCF yield 8.40% · Earnings yield 6.69% · Dividend yield (paid, TTM) 3.17% · Buyback yield (TTM) 4.92%
P/E at fiscal year-ends: Apr 2026 14.1x, Apr 2025 16.8x, Apr 2024 11.6x.

## Analysts
Consensus Hold (mean 2.50 on a 1–5 scale), 2 analysts; mean target USD 41 (low 40, high 42).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-20 | Keybanc | Target lowered | Overweight | $46 → $40 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -5.0% | +1.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -5.0% | +0.2% |
| Volatility (annualized) | 42.8% | 34.0% |
| Max drawdown | -31.4% (Aug 2026→Oct 2026) | -39.6% (Nov 2021→Oct 2022) |

## Peers (Furnishings, Fixtures & Appliances)
MLKN (MillerKnoll, Inc.) USD 21.68 +7.22% · MBC (MasterBrand, Inc.) USD 7.35 +8.73% · WHR (Whirlpool Corporation) USD 28.8 +8.56% · TILE (Interface, Inc.) USD 36.51 +4.11% · XMAX (XMAX, Inc.) USD 8.75 +2.94% · ETD (Ethan Allen Interiors Inc.) USD 20.79 +5.11%

## More
Full page: https://nexqual.com/LZB · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in LZB's own 10-K filed 2026-06-16 (https://www.sec.gov/Archives/edgar/data/57131/000005713126000019/lzb-20260425.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Amazon (AMZN) | "•Finance Director, Amazon Customer Team at The Proctor & Gamble Company, a multinational consumer goods corporation, from January 2019 to January 2021" |

Other companies that name LZB in their own reports (relationship from LZB's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| supplier | CULP INC (CULP) | 10-K 2026-07-17 | "Our major customers for our upholstery business are leading furniture manufacturers including Ashley Furniture, Flexsteel Home, Jonathan Louis, La-Z-Boy Incorporated (La-Z-Boy Wholesale, Joybird and E…" |

## Revenue by business segment (quarter ended 2026-07-25)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Wholesale | $322.9M | 67.9% | -8.5% | $6.7M | 2.1% |
| Retail | $228.6M | 48.0% | +10.3% | $14.6M | 6.4% |
| Corporate costs (not allocated) | — | — | — | -$23.4M | — |
| Total revenue | $475.7M | 100% | — | -$2.1M | -0.4% |
The lines above cover 115.9% of total revenue.

## Revenue by product line (quarter ended 2026-07-25)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Upholstered Furniture | $265.9M | 55.9% | -2.4% |
| Delivery | $38.1M | 8.0% | +2.0% |
| Casegoods/Accessories | $13.5M | 2.8% | -37.7% |
| Other | $5.5M | 1.2% | -74.6% |
| Total revenue | $475.7M | 100% | — |
The lines above cover 67.9% of total revenue.

## Company outlook (8-K filed 2026-08-18)

- "We expect fiscal second quarter sales to be in the range of $500-$520 million, reflecting enterprise sales growth of -1% to positive 2%, excluding the impact of wholesale casegoods divestiture."

Analysts expect $504.6M for the current quarter, -1.0% vs the guidance midpoint $510.0M. Source: https://www.sec.gov/Archives/edgar/data/57131/000005713126000034/fy27q1pressrelease.htm

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-10-31) | $0.47 | $0.72 | -33.7% | $504.6M | 2 |
| Next quarter (ends 2027-01-31) | $0.61 | $0.70 | -11.7% | $529.5M | 2 |
| Current fiscal year (ends 2027-04-30) | $2.57 | $2.94 | -12.7% | $2.08B | 3 |
| Next fiscal year (ends 2028-04-30) | $2.81 | $3.30 | -14.8% | $2.16B | 3 |