LZB LA-Z-BOY INC

Overview and Growth

In fiscal 2026, LA-Z-BOY INC recorded $2.13B of revenue, net income of $101.98M, and an operating cash inflow of $204.11M. Revenue of $2.13B sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 0.8% above fiscal 2025 revenue of $2.11B, marking a year-over-year increase. Diluted earnings per share were $2.47, translating the period’s attributable earnings into the amount reported for each diluted share. The per-share result recorded a 5.1% increase from fiscal 2025 diluted EPS of $2.35. Total assets stood at $2.04B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. The revenue-to-assets relationship was 1.04x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

Gross profit was $936.60M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross profit represented 44.0% of revenue, showing how much of the top line remained after direct costs. The reported operating result was $129.21M, capturing profitability after direct costs and the operating expenses reflected in the statements. Relative to revenue, operating income represented 6.1%, showing how efficiently sales converted into operating profit. The bottom-line result was net income of $101.98M, after the operating, financing, tax, and other items recognized for the period. Net margin was 4.8%, meaning that this portion of revenue remained as net income after all recognized expenses. Before income taxes, the company reported $138.81M of earnings, providing a bridge between the operating result and final net income. The pretax margin was 6.5%, relating income before taxes directly to revenue. Income tax expense totaled $35.89M, providing the reported tax component that separates pretax and after-tax earnings. The effective relationship between income tax and positive pretax income was 25.9%, without assuming a statutory-rate comparison. Return on period-end equity was 9.6%, relating annual net income to the equity capital on the balance sheet. The net-income-to-assets relationship measured 5.0%, showing earnings relative to the full balance sheet.

Liquidity and Capital Structure

Total assets were $2.04B, supported by $979.66M of liabilities and $1.06B of shareholder equity. The near-term balance sheet paired $773.91M of current assets with $429.89M of current liabilities at the reporting date. Current assets covered current liabilities by 1.8x, leaving a positive buffer for near-term obligations. The company held $303.21M in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 70.5% of current liabilities, showing how much near-term coverage came from cash alone. The liabilities-to-assets relationship was 48.0%, placing reported obligations against the full positive asset balance. Measured against total assets, cash and equivalents represented 14.8%, a balance-sheet composition measure rather than a liquidity forecast. Total assets were 6.3% higher than fiscal 2025 assets of $1.92B, measuring the company’s own balance-sheet change. Against $1.03B of equity in fiscal 2025, the current book-equity balance moved 3.0% and ended higher.

Cash Flow and Earnings Quality

Cash flow from operations was $204.11M, a reported cash inflow that can be compared directly with net income and capital spending. The operating-cash-flow-to-net-income relationship was 2.0x, comparing cash generated by operations with the bottom-line earnings result. The cash-flow statement records $76.31M of capital expenditures, the investment amount considered after operating cash generation. Capital expenditures represented 37.4% of operating cash flow, leaving the remainder available as free cash flow. Free cash flow came to $127.80M, leaving a positive amount after capital expenditures. Free cash flow represented 6.0% of revenue, linking post-investment cash generation with the company’s operating scale. The free-cash-flow-to-assets relationship was 6.3%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Apr 25, 2026. Analysis generated Oct 21, 2026.