La-Z-Boy Incorporated (LZB)
Current ratio
| Apr 27, 2024 | Apr 29, 2023 | Apr 30, 2022 | Apr 24, 2021 | Apr 25, 2020 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 836,808 | 854,600 | 951,776 | 926,160 | 626,326 |
| Total current liabilities | US$ in thousands | 437,281 | 475,861 | 675,689 | 611,670 | 350,169 |
| Current ratio | 1.91 | 1.80 | 1.41 | 1.51 | 1.79 |
April 27, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $836,808K ÷ $437,281K
= 1.91
The current ratio of La-Z-Boy Incorporated has shown some fluctuations over the past five years. The current ratio measures the company's ability to meet its short-term obligations with its current assets.
In the latest fiscal year ending April 27, 2024, the current ratio improved to 1.91 from the previous year, indicating that the company's current assets increased relative to its current liabilities. This suggests a strengthened liquidity position, as there are more current assets available to cover immediate liabilities.
On the other hand, in the fiscal year ending April 30, 2022, the current ratio was 1.41, the lowest in the five-year period, indicating a potential liquidity challenge as current assets may have been insufficient to cover current liabilities effectively.
Overall, fluctuations in the current ratio over the five-year period suggest varying levels of liquidity and efficiency in managing short-term obligations within the company. The upward trend in the most recent year is a positive indicator of improved liquidity position. Additional analysis of the composition of current assets and liabilities would provide further insights into La-Z-Boy Incorporated's financial health.
Peer comparison
Apr 27, 2024