La-Z-Boy Incorporated (LZB)
Solvency ratios
| Apr 27, 2024 | Jan 27, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 29, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 22, 2022 | Oct 23, 2021 | Jul 24, 2021 | Apr 24, 2021 | Jan 23, 2021 | Oct 24, 2020 | Jul 25, 2020 | Apr 25, 2020 | Jan 25, 2020 | Oct 26, 2019 | Jul 27, 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 1.91 | 1.96 | 1.95 | 1.94 | 1.98 | 2.04 | 2.12 | 2.30 | 2.38 | 2.49 | 2.38 | 2.40 | 2.31 | 2.23 | 2.21 | 2.13 | 2.05 | 2.02 | 2.00 | 1.99 |
Based on the solvency ratios of La-Z-Boy Incorporated, we can see that the debt-to-assets ratio, debt-to-capital ratio, and debt-to-equity ratio have consistently remained at 0.00 across the various reporting periods. This indicates that the company has not been utilizing debt significantly to finance its operations relative to its assets, capital, or equity.
However, the financial leverage ratio has shown some fluctuation over time, ranging from 1.91 to 2.49. A higher financial leverage ratio suggests that the company relies more on debt to finance its operations compared to equity. The increasing trend in the financial leverage ratio over recent periods may indicate a higher level of financial risk as the company becomes more leveraged.
Overall, while La-Z-Boy Incorporated has maintained low debt ratios, the increasing financial leverage ratio warrants careful monitoring to ensure the company's ability to meet its debt obligations and maintain financial stability in the long run.
Coverage ratios
| Apr 27, 2024 | Jan 27, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 29, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 22, 2022 | Oct 23, 2021 | Jul 24, 2021 | Apr 24, 2021 | Jan 23, 2021 | Oct 24, 2020 | Jul 25, 2020 | Apr 25, 2020 | Jan 25, 2020 | Oct 26, 2019 | Jul 27, 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 331.42 | 343.18 | 343.14 | 387.42 | 394.48 | 396.23 | 375.48 | 302.86 | 231.01 | 178.03 | 151.98 | 134.29 | 98.37 | 66.60 | 80.27 | 69.60 | 91.99 | 110.47 | 83.84 | 74.00 |
The interest coverage ratio for La-Z-Boy Incorporated has fluctuated over the past two years, indicating the company's ability to meet its interest obligations from its operating profits. The ratio has shown a general downward trend, starting at 74.00 in October 2019 and peaking at 394.48 in April 2023.
From July 2021 to April 2024, the interest coverage ratio has remained above 100, reaching significant highs such as 387.42 in July 2023 and 396.23 in January 2024. This suggests that the company has been generating significantly more operating income relative to its interest expenses during these periods.
However, there have been periods, notably in January 2021 and April 2021, where the interest coverage ratio dropped below 100, indicating a tighter situation where the company's operating income may not have been sufficient to cover its interest payments.
Overall, the recent trend of the interest coverage ratio being consistently above 100 is a positive indicator of La-Z-Boy's ability to meet its interest obligations, but stakeholders should continue monitoring the ratio to ensure the company maintains a sustainable financial position.