$La-Z-Boy (LZB.US)$🎯 2024.3.12 Current price 36.59, floatin...

New data: 24Q2 and 24Q3. Revenue, operating profit, and net profit declined for 4 consecutive quarters.

In the first three quarters of 2024, revenue contracted 16.5%, operating profit shrank 36%, and net profit shrank 28.1%.

The balance ratio did not change much, from 49% to 48.5%. Goodwill and other intangible assets are 255 million. Compared with 988 million net assets, which is not much, the company is not burdened with interest.

Net operating in the first three quarters was higher than net investment, generating some shareholders' surpluses.

Currently, the price-earnings ratio is 10.55, and the price-earnings ratio has been raised to 13.6. If the annual net profit shrinks by 30% to 100 million, the corresponding price-earnings ratio is 15.7, and the 5-year average net profit of 120 million yuan corresponds to a price-earnings ratio of 13. Considering that there are currently only observation positions, the company's financial situation is also very good, and there is no need for any adjustments for the time being.