LEG LEGGETT & PLATT INC

Overview and Growth

In fiscal 2025, LEGGETT & PLATT INC recorded $4.06B of revenue, net income of $235.40M, and an operating cash inflow of $338.20M. The $4.06B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Compared with $4.38B in fiscal 2024, revenue decreased 7.5%, a top-line contraction that reduced operating scale. The company reported diluted EPS of $1.69, adding a shareholder-level measure to the absolute income figures considered below. Total assets stood at $3.54B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Revenue equaled 1.15x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

The first profit layer was $744.10M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross margin was 18.3%, so that share of each revenue unit remained after the cost of revenue reported for the period. The bottom-line result was net income of $235.40M, after the operating, financing, tax, and other items recognized for the period. Net margin was 5.8%, meaning that this portion of revenue remained as net income after all recognized expenses. Before income taxes, the company reported $289.70M of earnings, providing a bridge between the operating result and final net income. The pretax margin was 7.1%, relating income before taxes directly to revenue. Income tax expense totaled $54.30M, providing the reported tax component that separates pretax and after-tax earnings. Relative to pretax income, the tax provision measured 18.7%, quantifying the portion of pre-tax earnings paid in income tax. Return on period-end equity was 23.0%, relating annual net income to the equity capital on the balance sheet. Net income represented 6.7% of period-end assets, placing the company’s bottom-line result against the total resource base employed.

Liquidity and Capital Structure

At period end, the $3.54B asset base was financed through $2.51B of liabilities and $1.02B of equity. Current assets were $1.74B against $775.00M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. The current ratio was 2.25x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. The company held $587.40M in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 75.8% of current liabilities, showing how much near-term coverage came from cash alone. Relative to total assets, liabilities measured 71.1%, complementing the separate equity-based view of the company’s capital structure. Measured against total assets, cash and equivalents represented 16.6%, a balance-sheet composition measure rather than a liquidity forecast. Compared with $3.66B in fiscal 2024, the current asset base moved 3.4% and finished lower. Book equity was 48.2% higher than fiscal 2024 equity of $690.20M, showing how shareholder capital changed year over year.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $338.20M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Operating cash flow equaled 1.44x of net income, showing how strongly accounting earnings converted into cash from operations. Capital expenditures used $57.20M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital expenditures represented 16.9% of operating cash flow, leaving the remainder available as free cash flow. After capital spending, free cash flow was $281.00M, leaving cash available for debt reduction, shareholder returns, or further investment. The free-cash-flow margin was 6.9%, measuring cash remaining after capital spending against revenue. Free cash flow equaled 7.9% of total assets, relating post-investment cash generation to the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.