La-Z-Boy Incorporated (LZB)
Receivables 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,109,207 | 2,091,871 | 2,123,629 | 2,103,008 | 2,107,882 | 2,065,782 | 2,023,682 | 2,004,927 | 1,986,172 | 2,036,024 | 2,085,876 | 2,176,948 | 2,268,020 | 2,318,065 | 2,368,110 | 2,399,478 | 2,430,846 | 2,504,080 | 2,464,321 | 2,431,803 |
| Receivables | US$ in thousands | 139,533 | 127,612 | 128,518 | 157,245 | 174,731 | 139,213 | 162,642 | 119,383 | 169,600 | 134,394 | 110,857 | 110,857 | 125,536 | 125,536 | 137,593 | 137,593 | 160,035 | 160,035 | 264,378 | 156,027 |
| Receivables turnover | 15.12 | 16.39 | 16.52 | 13.37 | 12.06 | 14.84 | 12.44 | 16.79 | 11.71 | 15.15 | 18.82 | 19.64 | 18.07 | 18.47 | 17.21 | 17.44 | 15.19 | 15.65 | 9.32 | 15.59 |
April 30, 2025 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $2,109,207K ÷ $139,533K
= 15.12
The receivables turnover ratio for La-Z-Boy Incorporated exhibits notable fluctuations over the analyzed periods. In the fiscal year ending July 30, 2022, the ratio was approximately 15.59, decreasing significantly to 9.32 shortly thereafter, indicating potential challenges in collecting receivables during that period. Subsequently, the ratio rebounded to 15.65 by October 29, 2022, and remained relatively stable around the 15 to 15.19 range through October 31, 2022.
In the following quarters, there was a progressive improvement, with the ratio reaching 17.44 by January 28, 2023, and slightly decreasing to 17.21 by January 31, 2023. A further upward trend is observed in April 2023, with the ratio climbing to approximately 18.47 by April 29, 2023, and maintaining a similar level at 18.07 in late April.
The ratio continued to improve into mid-2023, peaking at 19.64 on July 29, 2023. Nonetheless, a decline is evident subsequently, with the ratio decreasing to 18.82 by July 31, 2023. Moving into late 2023, the ratio drops further to 15.15 on October 28, 2023, and declines more sharply to 11.71 by October 31, 2023, suggesting a slowdown in receivable collections or a change in credit policies.
In early 2024, the ratio shows signs of recovery, rising to 16.79 on January 27, 2024, but then falling again to 12.44 by January 31, 2024. The trend stabilizes somewhat in the subsequent quarter, with ratios of 14.84 and 12.06 in April and April 2024, respectively. The ratios fluctuate through the latter part of 2024 and into 2025, with values such as 13.37 in July 2024, 16.52 in October 2024, and approximately 16.39 in January 2025.
Overall, the receivables turnover ratio demonstrates periods of strengthening, notably between early 2023 and mid-2023, indicating improved collection efficiency during that time. However, the significant dip observed in late 2023 suggests a potential decline in collection effectiveness or changes in credit terms. The subsequent partial recovery indicates ongoing adjustments in receivables management strategies.
Peer comparison
Apr 30, 2025