La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes, and retails upholstery furniture products in the United States, Canada, and internationally. It operates through Wholesale and Retail segments. The Wholesale segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas; and imports, casegoods (wood) furniture, including bedroom sets, dining room sets, entertainment centers, and occasional pieces. This segment sells its products directly to La-Z-Boy Furniture Galleries stores, operators of La-Z-Boy Comfort Studio and branded space locations, England Custom Comfort Center locations, dealers, and other independent retailers. The Retail segment sells upholstered furniture, casegoods, and other home furnishing accessories to the end consumer through its retail stores network. It licenses La-Z-Boy brand name on various products; and operates Joybird, an e-commerce retailer that manufacturers upholstered furniture, as well as sells to the end consumer primarily online through its www.joybird.com website and small-format stores in urban markets. The company was formerly known as La-Z-Boy Chair Company and changed its name to La-Z-Boy Incorporated in 1996. La-Z-Boy Incorporated was founded in 1927 and is headquartered in Monroe, Michigan.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.1B | $271M | $100M | $113M | 9.8% | 3.0% | -18.8% |
| 2024 | $2.0B | $291M | $123M | $105M | 12.2% | -12.9% | -18.6% |
| 2023 | $2.3B | $323M | $151M | $136M | 16.0% | -0.3% | 0.4% |
| 2022 | $2.4B | $319M | $150M | $2M | 18.5% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 2,356.81 | 2,349.43 | 2,047.03 | 2,109.21 |
| Operating Revenue | 2,356.81 | 2,349.43 | 2,047.03 | 2,109.21 |
| Cost Of Revenue | 1,477.02 | 1,384.70 | 1,165.36 | 1,182.79 |
| Gross Profit | 879.79 | 964.73 | 881.67 | 926.42 |
| Operating Expense | 673.04 | 753.29 | 730.87 | 770 |
| Selling General And Administration | 673.04 | 753.29 | 730.87 | 770 |
| Total Expenses | 2,150.05 | 2,137.99 | 1,896.23 | 1,952.79 |
| Operating Income | 206.76 | 211.44 | 150.80 | 156.42 |
| Total Operating Income As Reported | 206.76 | 211.44 | 150.80 | 135.84 |
| EBITDA | 319.10 | 323.03 | 290.89 | 271.31 |
| Normalized EBITDA | 319.10 | 323.03 | 290.89 | 291.89 |
| EBIT | 206.39 | 206.32 | 166.21 | 147.68 |
| Interest Income | 1.34 | 6.67 | 15.48 | 14.88 |
| Interest Expense | 0.90 | 0.54 | 0.46 | 0.55 |
| Net Interest Income | 0.44 | 6.13 | 15.03 | 14.33 |
| Other Non Operating Income Expenses | -1.71 | -11.78 | -0.07 | -3.04 |
| Other Income Expense | -1.71 | -11.78 | -0.07 | -23.62 |
| Interest Income Non Operating | 1.34 | 6.67 | 15.48 | 14.88 |
| Interest Expense Non Operating | 0.90 | 0.54 | 0.46 | 0.55 |
| Net Non Operating Interest Income Expense | 0.44 | 6.13 | 15.03 | 14.33 |
| Pretax Income | 205.49 | 205.79 | 165.75 | 147.13 |
| Tax Provision | 53.16 | 53.85 | 41.12 | 46.18 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | -6.46 |
| Net Income Continuous Operations | 152.33 | 151.94 | 124.64 | 100.95 |
| Net Income From Continuing And Discontinued Operation | 150.02 | 150.66 | 122.63 | 99.56 |
| Net Income From Continuing Operation Net Minority Interest | 150.02 | 150.66 | 122.63 | 99.56 |
| Net Income | 150.02 | 150.66 | 122.63 | 99.56 |
| Net Income Common Stockholders | 150.01 | 150.66 | 122.63 | 99.56 |
| Net Income Including Noncontrolling Interests | 152.33 | 151.94 | 124.64 | 100.95 |
| Normalized Income | 150.02 | 150.66 | 122.63 | 113.67 |
| Diluted NI Availto Com Stockholders | 150.01 | 150.66 | 122.63 | 99.56 |
| Basic Average Shares | 44.02 | 43.15 | 42.88 | 41.60 |
| Diluted Average Shares | 44.29 | 43.24 | 43.28 | 42.34 |
| Reconciled Depreciation | 112.71 | 116.70 | 124.68 | 123.63 |
| Reconciled Cost Of Revenue | 1,477.02 | 1,384.70 | 1,165.36 | 1,182.79 |
| Total Unusual Items | 0 | 0 | 0 | -20.58 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | 0 | -20.58 |
| Minority Interests | -2.31 | -1.28 | -2.01 | -1.40 |
| Special Income Charges | 0 | 0 | 0 | -20.58 |
| Impairment Of Capital Assets | 0 | 0 | 0 | 20.58 |
| Otherunder Preferred Stock Dividend | 0.01 | 0 | 0 | - |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| La-Z-Boy Incorporatedthis co. | LZB | $1.5B | 15.10β premium | 1.47 | 9.8% | 6.14 |
| Dauch Corporation | DCH | $1.6B | -79.52 | 2.45 | -3.1% | 7.60 |
| Lindblad Expeditions Holdings, Inc. | LIND | $1.5B | -48.98 | -5.12 | 10.4% | 21.16 |
| TriMas Corporation | TRS | $1.4B | 11.79 | 2.01 | 17.0% | 19.05 |
| Savers Value Village, Inc. | SVV | $1.4B |
| - |
| - |
| - |
| - |
| - |
| 62.17 |
| 3.23 |
| 5.2% |
| 15.00 |
| Carter's, Inc. | CRI | $1.4B | 15.31 | 1.52 | 9.9% | 10.48 |
| Leggett & Platt, Incorporated | LEG | $1.4B | 5.91 | 1.36 | 23.0% | 5.07 |
| Tripadvisor, Inc. | TRIP | $1.4B | 34.76 | 2.16 | 6.2% | 8.02 |
| Revolve Group, Inc. | RVLV | $1.4B | 22.41 | 2.70 | 12.0% | 13.93 |
| Peer Median | - | 13.55 | 2.08 | 10.2% | 12.20 | |