La-Z-Boy Incorporated (LZB)
Quick ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 328,449 | 314,589 | 303,062 | 342,270 | 341,098 | 341,098 | 329,324 | 329,324 | 329,632 | 329,632 | 336,434 | 336,434 | 343,374 | 343,374 | 280,763 | 280,763 | 204,626 | 204,626 | 241,437 | 238,170 |
| Short-term investments | US$ in thousands | — | — | 2,415 | 4,509 | 6,812 | 6,812 | 7,837 | 7,837 | 7,785 | 7,785 | 8,751 | 8,751 | 6,394 | 6,394 | 12,315 | 12,315 | 11,953 | 11,953 | 16,054 | 16,054 |
| 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 |
| Total current liabilities | US$ in thousands | 420,791 | 455,509 | 434,890 | 439,942 | 437,281 | 437,281 | 439,942 | 439,942 | 431,814 | 431,814 | 437,908 | 437,908 | 475,861 | 475,861 | 509,384 | 509,384 | 550,722 | 550,722 | 639,062 | 639,062 |
| Quick ratio | 1.11 | 0.97 | 1.00 | 1.15 | 1.20 | 1.11 | 1.14 | 1.04 | 1.17 | 1.09 | 1.04 | 1.04 | 1.00 | 1.00 | 0.85 | 0.85 | 0.68 | 0.68 | 0.82 | 0.64 |
April 30, 2025 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($328,449K
+ $—K
+ $139,533K)
÷ $420,791K
= 1.11
The analysis of La-Z-Boy Incorporated's quick ratio over the period from July 2022 through April 2025 reveals notable fluctuations that reflect the company's liquidity position at different points in time.
Initially, in July 2022, the quick ratio was approximately 0.64-0.82, indicating a relatively conservative liquidity stance where the company's most liquid assets covered less than one full dollar of current liabilities. This slightly improved by October 2022 to approximately 0.68, maintaining a similar level into October 2022, which suggests modest liquidity for the period.
Throughout late 2022 and early 2023, the quick ratio gradually increased, reaching 0.85 by January 2023, implying a strengthening liquidity position. The upward trend continued into April 2023, where the ratio reached a full 1.00, indicating that the company's liquid assets were sufficient to cover current liabilities entirely, reflecting improved short-term liquidity.
By mid-2023, the quick ratio surpassed the 1.00 benchmark, attaining 1.04 in July and October 2023. The continued rise to 1.17 in October 2023 suggests an increasingly robust relative liquidity position, potentially pointing to prudent liquidity management or improved operational cash flow, providing a cushion beyond current liabilities.
In early 2024, the ratio remained above 1.00, though it declined slightly to 1.04 in January. It then showed a minor decrease to 1.11 in April, but still maintained a surplus over 1. indicating a comfortable liquidity margin. The ratio then climbed slightly to 1.15 in July 2024 before decreasing again to 1.00 in October 2024, suggesting some cyclical fluctuations or shifts in liquid asset levels.
Looking into 2025, the ratios fluctuated around 0.97 to 1.11, ending in April 2025 at approximately 1.11. This data portrays an overall stable liquidity position, with the quick ratio mostly remaining near or slightly above the 1.00 threshold, signifying that the company generally maintained adequate liquid assets to meet its short-term obligations.
In summary, La-Z-Boy's quick ratio trajectory from 2022 through 2025 indicates consistent improvement and stabilization in liquidity, with periods exceeding a ratio of 1.00, reflecting prudent liquidity management and operational efficiency. Nonetheless, the ratios at the lower end in 2022 highlight the importance of ongoing liquidity oversight to preserve financial flexibility.
Peer comparison
Apr 30, 2025