Discounted Cash Flow

La-z-boy Inc.

LZB · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2017 $1.5b $85.9m $125.9m 5.7% $1.75
2018 $1.6b (4.2%) $80.9m (-5.9%) $79.4m (-36.9%) 5.1% (-9.7%) $1.69 (-3.4%)
2019 $1.7b (10.2%) $68.6m (-15.2%) $102.3m (28.8%) 3.9% (-23.0%) $1.46 (-13.6%)
2020 $1.7b (-2.4%) $77.5m (13.0%) $118.2m (15.5%) 4.5% (15.7%) $1.67 (14.4%)
2021 $1.7b (1.8%) $106.5m (37.4%) $272.0m (130.1%) 6.1% (35.0%) $2.31 (38.3%)
2022 $2.4b (35.9%) $150.0m (40.9%) $2.4m (-99.1%) 6.4% (3.7%) $3.41 (47.6%)
2023 $2.3b (-0.3%) $150.7m (0.4%) $136.4m (5525.2%) 6.4% (0.7%) $3.49 (2.3%)
2024 $2.0b (-12.9%) $122.6m (-18.6%) $104.6m (-23.3%) 6.0% (-6.6%) $2.86 (-18.1%)
2025 $2.1b (3.0%) $99.6m (-18.8%) $113.0m (8.0%) 4.7% (-21.2%) $2.39 (-16.4%)
2026 $2.1b (0.8%) $102.0m (2.4%) $127.8m (13.1%) 4.8% (1.6%) $2.49 (4.2%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model