La-Z-Boy Incorporated (LZB)
Debt-to-assets ratio
| Apr 27, 2024 | Apr 29, 2023 | Apr 30, 2022 | Apr 24, 2021 | Apr 25, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total assets | US$ in thousands | 1,913,440 | 1,866,260 | 1,932,090 | 1,786,320 | 1,434,890 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
April 27, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $1,913,440K
= 0.00
The debt-to-assets ratio for La-Z-Boy Incorporated for the past five fiscal years, ending on April 27, 2024, April 29, 2023, April 30, 2022, April 24, 2021, and April 25, 2020, has consistently been reported as 0.00. This indicates that La-Z-Boy has not reported any debt on its balance sheet relative to its total assets during these periods. A debt-to-assets ratio of 0.00 signifies that the company has either paid off all its debt or operates without utilizing debt financing to fund its operations, which could be reflective of a strong financial position with low financial risk. It suggests that La-Z-Boy's operations are primarily funded by equity or other non-debt sources, potentially providing the company with greater financial flexibility and lower interest expense. Additionally, a debt-to-assets ratio of 0.00 may imply a high level of financial stability and creditworthiness, as there is no direct obligation of debt to be serviced using the company's assets. However, it is important to note that while a low debt-to-assets ratio is generally viewed positively, it also suggests that the company may not be leveraging debt to potentially enhance returns on equity.
Peer comparison
Apr 27, 2024