La-Z-Boy Incorporated logo LZB - La-Z-Boy Incorporated

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AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Stable Earnings Power 80% confidence

Primary model: P/Adj-EPS × Normalized Multiple

Valuation Signal Fair Value Mild
Trading 5.9% below fair value
Current Price $36.65
Bear Case $34.09 7.0% downside ($34.09 - $36.65) / $36.65 = -7.0% $2.44 × 14x P/E
Fair Value $38.96 6.3% upside ($38.96 - $36.65) / $36.65 = 6.3% $2.44 × 16x P/E
Bull Case $43.83 19.6% upside ($43.83 - $36.65) / $36.65 = 19.6% $2.44 × 18x P/E

Adjust Assumptions

16.0x
2.44$

Key Value Driver

Normalized P/E multiple (16x base case)

Implied Market Multiple 15.1x

Plain-Language Summary

Applying a 16x P/E to adjusted EPS of $2.44, the base-case value is $38.96 per share. DDM cross-check: $2608.53.

Warnings

Dividend-based valuation: $2608.53 (above our primary estimate by 6595%). Large gaps may signal the dividend doesn't reflect full earning power.

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