LA-Z-BOY INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data LA-Z-BOY INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	1,520	1,584	1,745	1,704	1,734	2,357	2,349	2,047	2,109	2,127
Cost of revenue	911	961	1,043	983	994	1,477	1,385	1,165	1,183	1,190
Gross profit	609	623	703	721	740	880	965	882	926	937
Research and development	8	7.9	9.1	10.8	7.6	9	9.1	9.6	9.9	10.8
Selling, general and administrative	476	493	573	576	604	673	753	731	770	787
Operating income	133	129	130	119	137	207	211	151	136	129
Interest expense							0.54	0.46	0.55	0.52
Interest income	0.98	1.71	2.1	2.79	1.1	1.34	6.67	15.5	14.9	11.9
Other non-operating income	-2.51	-1.65	-2.24	-5.08	9.47	-1.71	-11.8	-0.07	-3.04	-1.76
Pre-tax income	131	129	95.3	115	146	205	206	166	147	139
Income tax	43.8	47.3	25.2	36.2	38.4	53.2	53.8	41.1	46.2	35.9
Income from continuing operations	85.9
Net income to minority interests	1.06	0.73	1.57	1.52	1.07	2.31	1.28	2.01	1.4	0.93
Net income	85.9	80.9	68.6	77.5	106	150	151	123	99.6	102
EBITDA	162	161	161	150	170	247	252	199	183	177
EPS, basic	1.75	1.69	1.46	1.67	2.31	3.41	3.49	2.86	2.39	2.49
EPS, diluted	1.73	1.67	1.44	1.66	2.30	3.39	3.48	2.83	2.35	2.47
Shares, basic (weighted)	49	47.6	46.8	46.4	46	44	43.1	42.9	41.6	41
Shares, diluted (weighted)	49.5	48.1	47.3	46.7	46.4	44.3	43.2	43.3	42.3	41.3
Dividend per share	0.42	0.46	0.50	0.54	0.36	0.63	0.69	0.92	0.84	0.76

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	142	135	130	262	391	246	343	341	328	303
Receivables	151	154	143	99.4	139	184	126	139	140	131
Inventory	175	185	197	182	226	303	276	263	255	218
Other current assets	40.6	42.5	69.1	81.8	166	216	106	93.3	82.4	101
Total current assets	517	518	541	626	926	952	855	837	806	774
Property, plant and equipment	169	181	201	215	219	253	279	298	339	357
Lease right-of-use assets				319	343	405	416	445	450	519
Goodwill	74.2	75.3	186	161	176	195	205	214	206	243
Intangible assets	18.5	18.2	29.9	28.7	30.4	34	39.4	47.3	51.2	77.6
Other non-current assets	69.4	79.2	81.7	64.6	79	82.2	63.5	60	67.7	70.1
Total assets	889	893	1,060	1,435	1,786	1,932	1,866	1,913	1,922	2,042
Accounts payable	51.3	62.4	65.4	55.5	94.2	104	107	96.5	96	102
Accrued liabilities	45.2	40.5	53.4	35	62.5	62.4	63.3	59.1	65.3	65.9
Deferred revenue			17	17.1	289	322	151	124	105	113
Short-term debt	0.22	0.22	0.18	0	0
Total current liabilities	199	181	239	350	612	676	476	437	421	430
Long-term debt	0.3	0.2	0.02	0
Lease liabilities			0	270	295	354	368	404	408	474
Other non-current liabilities	88.8	86.2	124	98.3	97.5	81.9	70.1	58.1	59.1	74.2
Total liabilities	288	268	363	719	1,004	1,112	914	900	890	980
Total debt	0.52	0.42	0.2	0
Paid-in capital	290	299	313	318	331	342	359	368	386	401
Retained earnings	285	292	326	344	399	431	545	598	597	610
Other comprehensive income	-32.9	-25.2	-3.46	-6.95	-1.52	-5.8	-5.53	-5.87	-3.57	-1.53
Shareholders' equity	590	612	683	701	773	811	942	1,003	1,021	1,050
Minority interests	11.2	13	14.5	15.6	8.65	8.9	10.3	10.3	11.4	12.7
Total equity	601	625	697	716	782	820	952	1,013	1,032	1,063
Total liabilities and equity	889	893	1,060	1,435	1,786	1,932	1,866	1,913	1,922	2,042
Shares outstanding	48.5	46.8	47	45.9	45.4	43.1	43.3	42.4	41.2	40.3

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	87	81.6	70.1	79	108	152	152	125	101	103
Depreciation and amortization	29.1	31.8	31.1	31.2	33	39.8	40.2	48.6	46.7	47.4
Stock-based compensation	8.86	9.47	11	8.37	12.7	11.9	12.5	14.4	17.4	15.7
Deferred income tax	0.57	17.3	-1.67	0.72	8.79	1.02	3.9	-3.27	5.12	18.3
Change in inventory	12.5	-8.01	3.14	14.9	-40.7	-72	32.3	19.9	12.8	26.3
Cash from operations	148	116	151	164	310	79	205	158	187	204
Capital expenditures	-20.3	-36.3	-48.4	-46	-38	-76.6	-68.8	-53.6	-74.3	-76.3
Acquisitions	-35.9	-16.5	-75.6	0	-2	-26.3	-16.8	-39.4	-29.5	-86.4
Purchases of investments	-29.8	-28.6	-20.7	-37.5	-39.6	-34.2	-9.09	-18.4	-6.99	-3.71
Sales and maturities of investments	20	22.7	20.9	37.2	36.1	36.1	24.5	24.8	12	1.75
Cash from investing	-65.2	-55.2	-122	-33.9	-40.7	-78.4	-70.1	-81.6	-98.4	-139
Stock issued	3.57
Share buybacks	-36	-56.7	-23	-43.4	-44.2	-90.6	-5	-52.8	-77.9	-47.3
Dividends paid	-20.7	-22	-23.5	-25.1		-27.7	-29.9	-32.7	-35	-37.9
Cash from financing	-53.4	-76.3	-33.7	2.56	-141	-145	-37.1	-81.2	-103	-91.1
Exchange rate effect	0.18	1.74	-0.48	-1.14	3.02	-1.92	-0.09	-0.93	1.08	0.41
Net change in cash	29.5	-14	-5.08	132	131	-146	97.8	-5.58	-12.6	-25.2
Free cash flow	128	79.4	102	118	272	2.42	136	105	113	128
Interest paid	0.5	0.4	1	0.6	0.8	0.5	0.3	0.4	0.4	0.4
Income taxes paid	33.7	37.1	23.8	24.7	40.5	38.6	69.9	34.2	43.8	30.4

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 25, 2026; growth uses fiscal years. Valuation uses the share price of $29.88 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	44.4%	Gross profit / revenue.
Operating margin	5.0%	Operating income / revenue.
EBITDA margin	7.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	5.2%	Pre-tax income / revenue.
Net margin	3.9%	Net income / revenue.
FCF margin	4.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	8.7%	Cash from operations / revenue.
Effective tax rate	25.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	8.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	4.1%	Net income / average total assets.
Return on invested capital (ROIC)	10.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	38.4%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	3.8%	Capital expenditures / revenue.
D&A / revenue	2.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	0.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-3.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	4.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	1.1%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-1.0%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	4.8%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-4.9%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-15.1%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-1.1%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-3.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-11.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	0.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	2.4%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-12.2%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-0.9%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	5.1%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-10.8%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	1.4%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	9.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-0.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-8.0%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	13.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-2.1%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-14.0%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	-9.2%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	3.3%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	16.2%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	2.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	3.7%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	6.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	6.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	2.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-2.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-2.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.66x	Current assets / current liabilities.
Quick ratio	0.86x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.60x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	48.6%	Total liabilities / total assets.
Interest coverage	169x	Operating income / interest expense.
Working capital	$298.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	16.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	$688.0M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.06x	Revenue / average total assets.
Fixed asset turnover	5.71x	Revenue / average property, plant and equipment.
Inventory turnover	5.01x	Cost of revenue / average inventory.
Days inventory	73 days	365 x average inventory / cost of revenue.
Receivables turnover	17.9x	Revenue / average receivables.
Days sales outstanding	20 days	365 x average receivables / revenue.
Days payables	35 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	58 days	Days inventory + days sales outstanding - days payables.
FCF conversion	125.6%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	44.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.04	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$52.76	Revenue / diluted weighted shares.
FCF per share	$2.56	Free cash flow / diluted weighted shares.
Operating cash flow per share	$4.59	Cash from operations / diluted weighted shares.
Book value per share	$25.30	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$17.18	Tangible book value / shares outstanding.
Cash per share	$6.67	(Cash + short-term investments) / shares outstanding.
Payout ratio	47.4%	Dividends paid / net income, when net income is positive.
Dividends / FCF	37.7%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	58.5%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.20B	Share price x shares outstanding.
Enterprise value	$928.3M	Market cap + total debt - cash - short-term investments.
P/E	14.7x	Market cap / net income. Only when net income is positive.
P/S	0.57x	Market cap / revenue.
P/B	1.18x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.74x	Market cap / tangible book value, when positive.
P/FCF	11.7x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	6.52x	Market cap / cash from operations, when positive.
EV/Sales	0.44x	Enterprise value / revenue.
EV/EBIT	8.83x	Enterprise value / operating income, when both are positive.
EV/EBITDA	6.03x	Enterprise value / EBITDA, when both are positive.
EV/FCF	9.07x	Enterprise value / free cash flow, when both are positive.
FCF yield	8.6%	Free cash flow / market cap.
Earnings yield	6.8%	Net income / market cap (the inverse of P/E).
Dividend yield	3.2%	Dividends paid over the period / market cap.
Shareholder yield	8.2%	(Dividends paid + share buybacks) / market cap.

What was LA-Z-BOY INC's revenue in fiscal 2026?

LA-Z-BOY INC reported revenue of $2.13B for fiscal 2026, 0.8% higher than the year before.

Was LA-Z-BOY INC profitable in fiscal 2026?

Yes. Net income was $102.0M, a net margin of 4.8%.

How much free cash flow did LA-Z-BOY INC generate in fiscal 2026?

Cash from operations of $204.1M minus capital expenditures of $76.3M left free cash flow of $127.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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