La-Z-Boy Incorporated (LZB)
NYSE:LZB
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La-Z-Boy Incorporated
(NYSE:LZB)
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Rating:65Neutral
Price Target:
$38.00
▲(5.94% Upside)
Action:Reiterated
Date:06/17/26
The score is driven primarily by steady (but recently softening) financial performance and a constructive earnings-call outlook featuring strong cash generation and sizable buybacks, partly offset by near-term margin pressure and pockets of demand weakness. Valuation is supportive, while technical signals indicate subdued near-term momentum.
Positive Factors
Brand & product momentum
Marketing awards and repeated product innovation signal durable brand equity that supports price realization and customer preference over time. Strong brand recognition and new product launches (AudioLuxe, Comfort Essentials) help sustain traffic and margins across retail and wholesale channels.
Negative Factors
Joybird operational weakness
Persistent volume declines and a material goodwill impairment indicate integration and demand challenges at Joybird. This creates multi-year profitability drag, raises execution risk for the premium digital-first brand, and can consume management attention and capital during recovery or restructuring.
Read all positive and negative factors
Positive Factors
Negative Factors
Brand & product momentum
Marketing awards and repeated product innovation signal durable brand equity that supports price realization and customer preference over time. Strong brand recognition and new product launches (AudioLuxe, Comfort Essentials) help sustain traffic and margins across retail and wholesale channels.
Read all positive factors
La-Z-Boy Incorporated (LZB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.55B
Dividend Yield2.39%
Average Volume (3M)368.37K
Price to Earnings (P/E)14.0
Beta (1Y)0.69
Revenue Growth1.69%
EPS Growth-31.16%
CountryUS
Employees10,200
SectorConsumer Cyclical
Sector Strength84
IndustryFurnishings, Fixtures & Appliances
Share Statistics
EPS (TTM)2.49
Shares Outstanding40,923,710
10 Day Avg. Volume371,985
30 Day Avg. Volume368,372
Financial Highlights & Ratios
PEG Ratio3.40
Price to Book (P/B)1.38
Price to Sales (P/S)0.68
P/FCF Ratio11.35
Enterprise Value/Market Cap1.24
Enterprise Value/Revenue0.90
Enterprise Value/Gross Profit2.05
Enterprise Value/Ebitda8.16
Forecast
1Y Price Target
$46.00Price Target Upside28.24% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)2.96
Revenue Forecast (FY)$2.17B
La-Z-Boy Incorporated Business Overview & Revenue Model
Company Description
La-Z-Boy Incorporated, a company founded in Monroe, Michigan, in 1927, is a leading entity in the furniture sector. Originally known as La-Z-Boy Chair Company, it adopted its current name in 1996. The corporation is engaged in the full spectrum of...
How the Company Makes Money
La-Z-Boy makes money by selling residential furniture and related home furnishings through multiple go-to-market channels that generate revenue at different points in the value chain:\n\n1) Retail (direct-to-consumer) sales\n- Company-owned stores...
La-Z-Boy Incorporated Earnings Call Summary
Earnings Call Date:Jun 16, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Aug 25, 2026
Earnings Call Sentiment Positive
The call presented a generally positive picture driven by strong retail execution, record store expansion and acquisitions, margin improvements (adjusted operating margin and gross margin), robust cash generation, no external debt, and significant shareholder returns including a new $300M buyback program. Offsetting these strengths are notable challenges at Joybird (declining delivered sales and a $20M goodwill impairment), softer wholesale volumes, non-repeatable margin benefits from case goods divestiture, elevated SG&A mix pressure, and near-term friction from supply‑chain and plant consolidation initiatives. Management communicated clear multi-year strategies (store growth, supply‑chain centralization, plant consolidation, and Joybird integration) expected to deliver future efficiency and margin gains, while acknowledging short-term headwinds and conservatively guiding Q1 and FY27 comparability impacts.Positive Updates
Retail Segment Sales and Margin Expansion
Retail delivered sales rose 9% in the fiscal 2026 fourth quarter to $270 million, driven by acquisitions and new stores; retail adjusted operating margin strengthened to 13.9% from 13.1% a year ago.
Negative Updates
Joybird Sales Weakness and Goodwill Impairment
Joybird delivered sales were $32 million in Q4, down 10% year-over-year on lower delivered volume; the company recorded a $20 million non-cash goodwill impairment for Joybird and reported expense deleverage in corporate and other due to Joybird's weaker results.
Read all updates
Q4-2026 Updates
Positive
Negative
Retail Segment Sales and Margin Expansion
Retail delivered sales rose 9% in the fiscal 2026 fourth quarter to $270 million, driven by acquisitions and new stores; retail adjusted operating margin strengthened to 13.9% from 13.1% a year ago.
Read all positive updates
Company Guidance
Guidance highlights: for fiscal Q1 2027 La‑Z‑Boy expects sales of $490–$510 million (organic growth up to 4%, excluding acquisitions/divestitures) and adjusted operating margin of 4.0%–5.5% (Q1 is seasonally the lowest quarter due to the annual week‑long plant shutdown). For fiscal 2027 the company plans to open ~10 La‑Z‑Boy stores and 3–4 Joybird stores, expects capital expenditures of $90–$110 million, will target reinvesting 50% of operating cash flow and returning 50% to shareholders, and has a new $300 million share repurchase authorization (~20% of shares outstanding) with normalized buybacks expected; management also cites a normalized effective tax rate of ~26%–27%. Comparability to FY2026 will be affected by the exit of the wholesale case goods business (≈$60 million of FY2026 sales) and the half‑year impact of the 15‑store acquisition, the company is pursuing IEEPA tariff refunds, and it continues its multi‑year distribution/home‑delivery transformation (western hub complete; Midwest/east phases underway).La-Z-Boy Incorporated Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
72
Positive
Cash Flow
58
Neutral
| Breakdown | Apr 2026 | Apr 2025 | Apr 2024 | Apr 2023 | Apr 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.13B | 2.11B | 2.05B | 2.35B | 2.36B |
| Gross Profit | 936.60M | 926.42M | 881.67M | 1.01B | 879.79M |
| EBITDA | 129.21M | 271.31M | 290.76M | 322.84M | 246.22M |
| Net Income | 101.98M | 99.56M | 122.63M | 150.66M | 150.02M |
Balance Sheet | |||||
| Total Assets | 2.04B | 1.92B | 1.91B | 1.87B | 2.07B |
| Cash, Cash Equivalents and Short-Term Investments | 303.21M | 331.07M | 347.91M | 349.77M | 266.21M |
| Total Debt | 564.29M | 490.86M | 481.75M | 445.91M | 430.11M |
| Total Liabilities | 979.66M | 890.19M | 900.08M | 914.17M | 1.25B |
| Stockholders Equity | 1.05B | 1.02B | 1.00B | 941.84M | 810.73M |
Cash Flow | |||||
| Free Cash Flow | 127.80M | 112.99M | 104.58M | 136.35M | 2.42M |
| Operating Cash Flow | 204.11M | 187.27M | 158.13M | 205.17M | 79.00M |
| Investing Cash Flow | -138.61M | -98.39M | -81.55M | -70.12M | -78.37M |
| Financing Cash Flow | -91.15M | -102.61M | -81.23M | -37.14M | -144.56M |
La-Z-Boy Incorporated Technical Analysis
Negative
35.87
Price Trends
35.46
Negative
35.15
Negative
35.00
Positive
Market Momentum
0.53
Positive
42.67
Neutral
45.08
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LZB, the sentiment is Negative. The current price of 35.87 is below the 20-day moving average (MA) of 36.78, above the 50-day MA of 35.46, and above the 200-day MA of 35.00, indicating a neutral trend. The MACD of 0.53 indicates Positive momentum. The RSI at 42.67 is Neutral, neither overbought nor oversold. The STOCH value of 45.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LZB.
La-Z-Boy Incorporated Risk Analysis
La-Z-Boy Incorporated disclosed 21 risk factors in its most recent earnings report. La-Z-Boy Incorporated reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
La-Z-Boy Incorporated Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | $340.96M | 10.70 | 17.68% | 1.77% | 4.83% | 111.79% | |
69 Neutral | $546.08M | 13.35 | 8.46% | 7.86% | -4.79% | -30.21% | |
65 Neutral | $1.55B | 13.95 | 9.83% | 2.39% | 1.69% | -31.16% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
58 Neutral | $1.47B | 6.72 | 23.12% | 1.84% | -8.33% | ― | |
50 Neutral | $1.07B | 99.74 | 0.83% | 4.16% | 5.62% | -65.76% | |
48 Neutral | $134.81M | 25.18 | 3.24% | 4.59% | 2.44% | ― |
* Consumer Cyclical Sector Average
LZB
La-Z-Boy Incorporated
35.06
-2.25
-6.04%
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La-Z-Boy Incorporated Corporate Events
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
La-Z-Boy Posts Strong Q4 Results, Boosts Shareholder Returns
Positive
Jun 16, 2026
La-Z-Boy reported strong results for its fiscal fourth quarter ended April 25, 2026, with sales flat year on year at $570 million but GAAP operating margin improving to 7.2% and adjusted margin to 9.9%. Retail segment written sales rose 11% and de...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.