La-Z-Boy Incorporated — Earnings Quality Grade B
LZB · Consumer Cyclical
Generally healthy
Screening Summary
管理层信号
数据来源：SEC EDGAR 8-K Item 5.02，附 Exhibit 99.1 链接
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 24 days, change -1 days YoY
AR growth 0.2% vs revenue growth 3.0%
Revenue 3.0%, CFFO 18.4%. Cash follows revenue
Expense Quality
Inventory -3.0% vs COGS 1.5%. Normal
CapEx growth 38.7% is >2x revenue growth 3.0%
SG&A/Gross Profit = 83.1%, exceeds 70%
Gross margin 43.9%, change +0.9pp. Stable
Cash Flow Quality
CFFO/NI = 1.88. Profits backed by cash
FCF $0.1B, FCF/NI = 1.13
Accruals ratio = -4.6%. Low accruals
Cash $0.3B covers 67% of debt $0.5B
Balance Sheet Health
Goodwill+Intangibles $0.3B = 25% of equity. Manageable
Debt/EBITDA = 1.8x. Healthy
Other assets 0.6% vs revenue 3.0%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -2% YoY. Normal
Manipulation Score
M-Score = -2.70 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25