Leggett & Platt, Incorporated logo LEG - Leggett & Platt, Incorporated

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY
0
BUY 4
HOLD 10
SELL 0
STRONG
SELL
0
| PRICE TARGET: $12.00 DETAILS
HIGH: $12.00
LOW: $12.00
MEDIAN: $12.00
CONSENSUS: $12.00
UPSIDE: 20.12%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Stable Earnings Power 80% confidence

Primary model: P/Adj-EPS × Normalized Multiple

Valuation Signal Undervalued Strong
Trading 61.4% below fair value
Current Price $9.99
Bear Case $22.63 126.5% upside ($22.63 - $9.99) / $9.99 = 126.5% $1.83 × 14x P/E
Fair Value $25.86 158.8% upside ($25.86 - $9.99) / $9.99 = 158.8% $1.83 × 16x P/E
Bull Case $29.09 191.2% upside ($29.09 - $9.99) / $9.99 = 191.2% $1.83 × 18x P/E

Adjust Assumptions

16.0x
1.83$

Key Value Driver

Normalized P/E multiple (16x base case)

Implied Market Multiple 5.5x

Plain-Language Summary

Our base-case estimate uses a valuation based on adjusted earnings per share and a normalized price-to-earnings multiple. We then blend that result with the average analyst price target of $12.00 from 14 analysts, using a 20% weight on analyst consensus. That produces an estimated intrinsic value of $25.86 per share.

Warnings

Wall Street's average price target is $12.00 (from 14 analysts). Our estimate is 144% above the consensus -- consider that gap carefully.

Key Risks

  • Growth DCF inappropriate — terminal value assumptions dominate
  • EV/EBITDA misleading for regulated businesses where capex is mandated
  • Regulatory risk is a fat tail not visible in normal multiples