La-Z-Boy Incorporated (LZB)
Inventory turnover
| Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Apr 27, 2024 | Jan 31, 2024 | Jan 27, 2024 | Oct 31, 2023 | Oct 28, 2023 | Jul 31, 2023 | Jul 29, 2023 | Apr 30, 2023 | Apr 29, 2023 | Jan 31, 2023 | Jan 28, 2023 | Oct 31, 2022 | Oct 29, 2022 | Jul 31, 2022 | Jul 30, 2022 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 1,182,789 | 1,176,432 | 1,199,472 | 1,196,245 | 1,201,208 | 1,176,586 | 1,151,964 | 1,140,735 | 1,129,506 | 1,141,887 | 1,154,268 | 1,215,487 | 1,276,706 | 1,337,343 | 1,397,980 | 1,423,469 | 1,459,388 | 1,510,879 | 1,501,239 | 1,490,816 |
| Inventory | US$ in thousands | 255,285 | 288,720 | 289,209 | 271,790 | 263,237 | 263,237 | 276,833 | 276,833 | 268,480 | 268,480 | 269,429 | 269,429 | 276,257 | 276,257 | 303,553 | 303,553 | 342,728 | 342,728 | 331,846 | 331,846 |
| Inventory turnover | 4.63 | 4.07 | 4.15 | 4.40 | 4.56 | 4.47 | 4.16 | 4.12 | 4.21 | 4.25 | 4.28 | 4.51 | 4.62 | 4.84 | 4.61 | 4.69 | 4.26 | 4.41 | 4.52 | 4.49 |
April 30, 2025 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,182,789K ÷ $255,285K
= 4.63
The inventory turnover for La-Z-Boy Incorporated over the analyzed period exhibits a relatively stable pattern with minor fluctuations. At the end of July 2022, the turnover was recorded at 4.49, indicating the company sold and replaced its inventory approximately 4.5 times during that fiscal period. This figure slightly increased to 4.52 at the end of July 2022, suggesting a marginal improvement in inventory efficiency.
Throughout the subsequent quarters, the inventory turnover experienced small decreases and increases, reflecting a rather stable cycle of inventory management. For instance, by the end of October 2022, turnover had declined to 4.26 from the previous 4.49–4.52 range. The beginning of 2023 shows a modest increase, with the turnover reaching 4.69 at the end of January, indicating a somewhat improved inventory turnover rate.
In the ensuing quarters, the ratio continued to fluctuate within a narrow band, settling around mid-4.3 to 4.84. Notably, at the end of April 2023, the turnover peaked at 4.84, the highest within this period, signaling enhanced inventory efficiency. Conversely, in the third quarter of 2023, the ratio dipped to approximately 4.28–4.51.
Continuing into late 2023 and early 2024, the inventory turnover showed slight declines, reaching approximately 4.21–4.25. The latest data available for April 2024 indicates a turnover of 4.56, slightly above the quarter’s previous figures, which could suggest some recovery or adjustment in inventory management. As of the end of October 2024, the ratio stood at 4.15, and further to January 2025, it edged down to 4.07, implying a slight downward trend in inventory turnover.
Towards the most recent data in April 2025, the ratio increased again to 4.63, suggesting some variability but overall stability in inventory management efficiency over the analyzed period.
Overall, La-Z-Boy's inventory turnover has demonstrated consistency within a stable range, with occasional peaks and troughs reflecting seasonal or operational adjustments. The data indicates a generally efficient inventory management process, with no drastic deviations from the average turnover rate, which rests around the low 4s throughout the observed timeframe.
Peer comparison
Apr 30, 2025
Apr 30, 2025