$La-Z-Boy (LZB.US)$Mainly for interior furniture, the fiscal...
$La-Z-Boy(LZB.US$Mainly for interior furniture, the fiscal year ended in April. Revenue, operating profit, and net profit all grew amid fluctuations over the past 5 years. The average growth rates were 8.2%, 10.2%, and 13.3%, respectively. Among them, revenue and net profit declined in 2023. There are no interest charges.
2024Q1 revenue shrank sharply by 20.3%, operating profit shrank by 34.4%, and net profit shrank by 28.3%.
The balance ratio began to decline after growing from 34.2% to 57.6% in the past 5 years, to 49% in 2023.
The ratio and increase and decrease of receivables and inventory are in good agreement with revenue. Goodwill and other intangible assets are 249 million, accounting for 25.8% of the net assets of 964 million, and there are no long-term loans.
Net cash flow has continued to be higher than net investment over the past 5 years, and shareholders' surpluses are high.
Currently, the price-earnings ratio is 9, the price-earnings ratio is TTM 9.8, and the dividend rate is 2.26%. There is a certain discount on the valuation. Considering that the industry has just passed the peak of the cycle, it is very likely that it will continue to shrink in the future. Only a few observation positions can be set up (👀)
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