TacticScaleWhat La-Z-Boy Does & How It Makes Money (LZB)
Updated October 2026 · reflects La-Z-Boy's latest reported financials
American maker and retailer of recliners and upholstered home furniture. It makes money through its Wholesale segment, which makes or imports furniture and sells it to La-Z-Boy Stores, dealers, and other retailers, and through its Retail segment, which sells directly to consumers in its own stores and online through Joybird.
How La-Z-Boy makes money
It makes money through its Wholesale segment, which makes or imports furniture and sells it to La-Z-Boy Stores, dealers, and other retailers, and through its Retail segment, which sells directly to consumers in its own stores and online through Joybird. It also licenses the La-Z-Boy brand name for use on other products.
What La-Z-Boy does
La-Z-Boy Incorporated, founded in 1927 and headquartered in Monroe, Michigan, is a furniture company best known for its recliners. It has two segments. Wholesale makes and imports upholstered furniture such as recliners, sofas, loveseats, sectionals, ottomans and sleeper sofas, and imports wooden casegoods like bedroom and dining sets. It sells these to La-Z-Boy Stores, Comfort Studio and branded-space locations, England Custom Comfort Centers, and independent dealers. The Retail segment sells furniture and home accessories directly to consumers through company-run stores. The company also owns Joybird, a direct-to-consumer brand that makes upholstered furniture and sells it mainly through joybird.com and a few small stores in key markets. La-Z-Boy also earns money by licensing its brand name for other products. The company changed its name from La-Z-Boy Chair Company in 1996.
Products & services
- La-Z-Boy recliners and motion furniture
- Sofas, sectionals and sleeper sofas
- Casegoods (bedroom and dining sets)
- Joybird
- England Custom Comfort Center
- La-Z-Boy Comfort Studio
What is La-Z-Boy worth?
On an owner-earnings DCF, La-Z-Boy's most-likely value is about $44 versus a recent price near $29 (52% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$30) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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