Financials Leggett & Platt, Incorporated

Equities

LEG

US5246601075

Home Furnishings

Market Closed - Nyse Other stock markets 04:00:02 2024-04-26 pm EDT			5-day change	1st Jan Change
17.99 ^USD	+0.17%		-1.48%	-31.26%

Mar. 26	Truist Securities Adjusts Leggett & Platt Price Target to $16 From $18, Maintains Hold Rating	MT
Mar. 25	Leggett & Platt Amends Revolving Credit Facility	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	6,689	5,871	5,490	4,273	3,489	2,407	-	-
Enterprise Value (EV) ¹	8,559	7,422	7,218	6,040	5,111	4,057	4,105	4,183
P/E ratio	20.6 x	24.3 x	14 x	14.2 x	-26.2 x	16.1 x	12.4 x	13.7 x
Yield	3.11%	3.61%	4.03%	5.4%	6.95%	10.2%	10.4%	10.5%
Capitalization / Revenue	1.41 x	1.37 x	1.08 x	0.83 x	0.74 x	0.54 x	0.52 x	0.52 x
EV / Revenue	1.8 x	1.73 x	1.42 x	1.17 x	1.08 x	0.9 x	0.89 x	0.9 x
EV / EBITDA	11.9 x	11.7 x	9.56 x	9.09 x	9.96 x	9.36 x	8.84 x	8.81 x
EV / FCF	16.3 x	13.8 x	43.8 x	17.7 x	-	17.3 x	18.7 x	18.7 x
FCF Yield	6.13%	7.23%	2.28%	5.65%	-	5.77%	5.33%	5.36%
Price to Book	5.11 x	4.23 x	3.33 x	2.6 x	2.62 x	-	-	-
Nbr of stocks (in thousands)	131,603	132,519	133,377	132,577	133,319	133,809	-	-
Reference price ²	50.83	44.30	41.16	32.23	26.17	17.99	17.99	17.99
Announcement Date	2/3/20	2/8/21	2/7/22	2/6/23	2/8/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	4,752	4,280	5,073	5,147	4,725	4,496	4,604	4,672
EBITDA ¹	721.3	635.8	755.1	664.8	513.4	433.3	464.3	474.6
EBIT ¹	529.4	446.4	567.8	485	333.5	296.7	322.5	330.6
Operating Margin	11.14%	10.43%	11.19%	9.42%	7.06%	6.6%	7.01%	7.08%
Earnings before Tax (EBT) ¹	430.1	320.9	522.1	403.6	-173.4	198.9	248.5	246.2
Net income ¹	333.8	247.6	402.4	309.8	-136.8	152	200.2	180.2
Net margin	7.02%	5.78%	7.93%	6.02%	-2.9%	3.38%	4.35%	3.86%
EPS ²	2.470	1.820	2.940	2.270	-1.000	1.117	1.457	1.315
Free Cash Flow ¹	524.9	536.4	164.7	341.1	-	233.9	219	224
FCF margin	11.04%	12.53%	3.25%	6.63%	-	5.2%	4.76%	4.79%
FCF Conversion (EBITDA)	72.77%	84.37%	21.81%	51.31%	-	53.99%	47.16%	47.2%
FCF Conversion (Net income)	157.25%	216.64%	40.93%	110.1%	-	153.95%	109.41%	124.34%
Dividend per Share ²	1.580	1.600	1.660	1.740	1.820	1.840	1.870	1.890
Announcement Date	2/3/20	2/8/21	2/7/22	2/6/23	2/8/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	1,319	1,333	1,322	1,334	1,294	1,196	1,214	1,221	1,175	1,115	1,120	1,143	1,145	1,097	1,132
EBITDA ¹	190.8	198.7	183.3	187.5	157.3	136.7	134.7	136.8	131	110.9	100.1	109.5	118.5	105.5	109.8
EBIT ¹	144.2	152.2	137.6	143	113.2	91.2	89.3	92.1	86	66.1	66.38	78.67	84.58	68.6	74.4
Operating Margin	10.93%	11.42%	10.41%	10.72%	8.75%	7.63%	7.36%	7.54%	7.32%	5.93%	5.93%	6.89%	7.39%	6.25%	6.57%
Earnings before Tax (EBT) ¹	125.8	133.8	118.1	123	93.5	69	68.3	73.7	70.9	-386.3	43.7	52.4	62	44.55	56.95
Net income ¹	97.2	105.5	90.4	95.2	71.4	52.8	53.5	54.2	52.8	-297.3	32.75	39.3	46.5	33.4	42.7
Net margin	7.37%	7.92%	6.84%	7.14%	5.52%	4.42%	4.41%	4.44%	4.49%	-26.66%	2.93%	3.44%	4.06%	3.05%	3.77%
EPS ²	0.7100	0.7700	0.6600	0.7000	0.5200	0.3900	0.3900	0.4000	0.3900	-2.180	0.2400	0.2850	0.3400	0.2400	0.3050
Dividend per Share ²	0.4200	0.4200	0.4200	0.4400	0.4400	0.4400	0.4400	0.4600	0.4600	0.4600	0.4600	0.4600	0.4600	0.4600	0.4700
Announcement Date	11/1/21	2/7/22	5/2/22	8/1/22	10/31/22	2/6/23	5/1/23	7/31/23	10/30/23	2/8/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	1,870	1,551	1,729	1,767	1,622	1,650	1,698	1,776
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.593 x	2.44 x	2.289 x	2.658 x	3.16 x	3.807 x	3.657 x	3.742 x
Free Cash Flow ¹	525	536	165	341	-	234	219	224
ROE (net income / shareholders' equity)	-	-	-	-	-	-	-	-
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share	9.950	10.50	12.40	12.40	10.00	-	-	-
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	143	66.2	107	100	114	110	115	120
Capex / Sales	3.01%	1.55%	2.1%	1.95%	2.41%	2.44%	2.5%	2.57%
Announcement Date	2/3/20	2/8/21	2/7/22	2/6/23	2/8/24	-	-	-

¹USD in Million

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Leggett & Platt, Incorporated

Trading Rating

Investor Rating

ESG Refinitiv

B+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

17.99 USD

Average target price

18 USD

Spread / Average Target

+0.06%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Other Home Furnishings