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: $11.67 DETAILS
HIGH: $12.00
LOW: $11.00
MEDIAN: $12.00
CONSENSUS: $11.67
UPSIDE: 5.32%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Stable Earnings Power 80% confidence

Primary model: P/Adj-EPS × Normalized Multiple

Valuation Signal Undervalued Strong
Trading 64.7% below fair value
Current Price $11.08
Bear Case $27.47 147.9% upside ($27.47 - $11.08) / $11.08 = 147.9% $2.27 × 14x P/E
Fair Value $31.39 183.3% upside ($31.39 - $11.08) / $11.08 = 183.3% $2.27 × 16x P/E
Bull Case $35.31 218.7% upside ($35.31 - $11.08) / $11.08 = 218.7% $2.27 × 18x P/E

Adjust Assumptions

16.0x
2.27$

Key Value Driver

Normalized P/E multiple (16x base case)

Implied Market Multiple 4.9x

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 $11.67 from 14 analysts, using a 20% weight on analyst consensus. That produces an estimated intrinsic value of $31.39 per share.

Warnings

The company's reported profits differ from official accounting profits by 34%. Check what costs are being left out of the adjusted number.
Wall Street's average price target is $11.67 (from 14 analysts). Our estimate is 211% 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