Leggett & Platt (LEG)
Market Price (7/4/2026): $11.9 | Market Cap: $1.7 BilSector: Consumer Discretionary | Industry: Home Furnishings
Leggett & Platt (LEG)
Market Price (7/4/2026): $11.9Market Cap: $1.7 BilSector: Consumer DiscretionaryIndustry: Home Furnishings
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 15%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 11%, FCF Yield is 12% Low stock price volatilityVol 12M is 49% Megatrend and thematic driversMegatrends include Advanced Materials, and Advanced Aviation & Space. Themes include Specialty Chemicals for Performance, Lightweight Composites, Show more. | Weak multi-year price returns2Y Excs Rtn is -20%, 3Y Excs Rtn is -126% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 68% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -8.3%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -7.8%, Rev Chg QQuarterly Revenue Change % is -10% Key risksLEG key risks include [1] persistently weak demand in its core residential and automotive markets and [2] significant financial strain, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 15%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 11%, FCF Yield is 12% |
| Low stock price volatilityVol 12M is 49% |
| Megatrend and thematic driversMegatrends include Advanced Materials, and Advanced Aviation & Space. Themes include Specialty Chemicals for Performance, Lightweight Composites, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -20%, 3Y Excs Rtn is -126% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 68% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -8.3%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -7.8%, Rev Chg QQuarterly Revenue Change % is -10% |
| Key risksLEG key risks include [1] persistently weak demand in its core residential and automotive markets and [2] significant financial strain, Show more. |
Qualitative Assessment
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Leggett & Platt (LEG) stock has gained about 20% since 3/31/2026 because of the following key factors:
1. Acquisition by Somnigroup International.
Leggett & Platt agreed to be acquired by Somnigroup International in an all-stock transaction valued at approximately $2.5 billion, announced in April 2026. Under the terms, Leggett & Platt shareholders were to receive 0.1455 shares of Somnigroup common stock for each share of Leggett & Platt, resulting in Leggett & Platt shareholders owning about 9% of the combined company. This deal also included expected annual cost savings of $50 million, anticipated to be fully realized within three years.
2. Improved Financial Health and Cash Flow.
Despite facing macroeconomic headwinds and softer consumer demand, Leggett & Platt demonstrated financial resilience. The company significantly reduced its net debt to adjusted EBITDA ratio from 3.8x to 2.4x in fiscal year 2025, moving closer to its 2.0x target. Additionally, it generated strong free cash flow, approximately $101.9 million in the latest quarter reported around April 13, 2026, providing financial flexibility.
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Leggett & Platt (LEG) stock has gained about 20% since 3/31/2026 because of the following key factors:
1. Acquisition by Somnigroup International.
Leggett & Platt agreed to be acquired by Somnigroup International in an all-stock transaction valued at approximately $2.5 billion, announced in April 2026. Under the terms, Leggett & Platt shareholders were to receive 0.1455 shares of Somnigroup common stock for each share of Leggett & Platt, resulting in Leggett & Platt shareholders owning about 9% of the combined company. This deal also included expected annual cost savings of $50 million, anticipated to be fully realized within three years.
2. Improved Financial Health and Cash Flow.
Despite facing macroeconomic headwinds and softer consumer demand, Leggett & Platt demonstrated financial resilience. The company significantly reduced its net debt to adjusted EBITDA ratio from 3.8x to 2.4x in fiscal year 2025, moving closer to its 2.0x target. Additionally, it generated strong free cash flow, approximately $101.9 million in the latest quarter reported around April 13, 2026, providing financial flexibility.
3. Strategic Product Innovation and Rebranding.
Leggett & Platt's automotive division, rebranded as Leggett Dynamics in June 2026, introduced new products. These included a Mid-Class Massage System, which is already in production with a global automaker and was shortlisted for a 2026 industry award, and a Smart Brushless Motor. These innovations aimed at making luxury comfort accessible and advancing quiet, software-defined comfort and motion, signaling potential for future growth.
4. Favorable Broader Market Conditions.
The overall U.S. equities market experienced significant growth during Q2 2026, with the benchmark S&P 500 spiking 15%. This rally was fueled by strong corporate earnings growth (over 25% year-over-year for the S&P 500 in Q1 2026) and continued investor enthusiasm surrounding artificial intelligence. This positive market sentiment likely provided a tailwind for many stocks, including Leggett & Platt.
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Stock Movement Drivers
Fundamental Drivers
The 21.4% change in LEG stock from 3/31/2026 to 7/3/2026 was primarily driven by a 27.6% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 7032026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.83 | 11.94 | 21.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,055 | 3,951 | -2.6% |
| Net Income Margin (%) | 5.8% | 5.7% | -2.0% |
| P/E Multiple | 5.8 | 7.4 | 27.6% |
| Shares Outstanding (Mil) | 139 | 139 | -0.4% |
| Cumulative Contribution | 21.4% |
Market Drivers
3/31/2026 to 7/3/2026| Return | Correlation | |
|---|---|---|
| LEG | 21.4% | |
| Market (SPY) | 14.5% | 42.5% |
| Sector (XLY) | 7.5% | 53.9% |
Fundamental Drivers
The 9.6% change in LEG stock from 12/31/2025 to 7/3/2026 was primarily driven by a 9.9% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 7032026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.89 | 11.94 | 9.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,173 | 3,951 | -5.3% |
| Net Income Margin (%) | 5.4% | 5.7% | 5.8% |
| P/E Multiple | 6.7 | 7.4 | 9.9% |
| Shares Outstanding (Mil) | 139 | 139 | -0.4% |
| Cumulative Contribution | 9.6% |
Market Drivers
12/31/2025 to 7/3/2026| Return | Correlation | |
|---|---|---|
| LEG | 9.6% | |
| Market (SPY) | 9.5% | 48.3% |
| Sector (XLY) | -1.7% | 56.0% |
Fundamental Drivers
The 36.4% change in LEG stock from 6/30/2025 to 7/3/2026 was primarily driven by a 50.4% change in the company's P/S Multiple.| (LTM values as of) | 6302025 | 7032026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.75 | 11.94 | 36.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,309 | 3,951 | -8.3% |
| P/S Multiple | 0.3 | 0.4 | 50.4% |
| Shares Outstanding (Mil) | 138 | 139 | -1.1% |
| Cumulative Contribution | 36.4% |
Market Drivers
6/30/2025 to 7/3/2026| Return | Correlation | |
|---|---|---|
| LEG | 36.4% | |
| Market (SPY) | 21.6% | 39.1% |
| Sector (XLY) | 8.4% | 45.3% |
Fundamental Drivers
The -55.3% change in LEG stock from 6/30/2023 to 7/3/2026 was primarily driven by a -44.4% change in the company's P/E Multiple.| (LTM values as of) | 6302023 | 7032026 | Change |
|---|---|---|---|
| Stock Price ($) | 26.73 | 11.94 | -55.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,038 | 3,951 | -21.6% |
| Net Income Margin (%) | 5.4% | 5.7% | 5.0% |
| P/E Multiple | 13.3 | 7.4 | -44.4% |
| Shares Outstanding (Mil) | 136 | 139 | -2.4% |
| Cumulative Contribution | -55.3% |
Market Drivers
6/30/2023 to 7/3/2026| Return | Correlation | |
|---|---|---|
| LEG | -55.3% | |
| Market (SPY) | 74.0% | 32.9% |
| Sector (XLY) | 41.1% | 37.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| LEG Return | -4% | -18% | -13% | -62% | 17% | 7% | -67% |
| Peers Return | 18% | -30% | 30% | -13% | 9% | 7% | 8% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 99% |
Monthly Win Rates [3] | |||||||
| LEG Win Rate | 58% | 42% | 25% | 25% | 58% | 57% | |
| Peers Win Rate | 58% | 35% | 50% | 28% | 50% | 54% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| LEG Max Drawdown | -33% | -25% | -38% | -63% | -40% | -29% | |
| Peers Max Drawdown | -28% | -41% | -25% | -30% | -31% | -28% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ADNT, LEA, MGA, HNI, LZB. See LEG Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/2/2026 (YTD)
How Low Can It Go
| Event | LEG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -33.5% | -18.8% |
| % Gain to Breakeven | 50.4% | 23.1% |
| Time to Breakeven | 77 days | 79 days |
| 2020 COVID-19 Crash | ||
| % Loss | -49.5% | -33.7% |
| % Gain to Breakeven | 97.8% | 50.9% |
| Time to Breakeven | 171 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -20.8% | -19.2% |
| % Gain to Breakeven | 26.3% | 23.8% |
| Time to Breakeven | 43 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -21.2% | -12.2% |
| % Gain to Breakeven | 27.0% | 13.9% |
| Time to Breakeven | 57 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -24.0% | -17.9% |
| % Gain to Breakeven | 31.5% | 21.8% |
| Time to Breakeven | 77 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -18.9% | -15.4% |
| % Gain to Breakeven | 23.3% | 18.2% |
| Time to Breakeven | 91 days | 125 days |
In The Past
Leggett & Platt's stock fell -33.5% during the 2025 US Tariff Shock. Such a loss loss requires a 50.4% gain to breakeven.
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| Event | LEG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -33.5% | -18.8% |
| % Gain to Breakeven | 50.4% | 23.1% |
| Time to Breakeven | 77 days | 79 days |
| 2020 COVID-19 Crash | ||
| % Loss | -49.5% | -33.7% |
| % Gain to Breakeven | 97.8% | 50.9% |
| Time to Breakeven | 171 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -20.8% | -19.2% |
| % Gain to Breakeven | 26.3% | 23.8% |
| Time to Breakeven | 43 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -21.2% | -12.2% |
| % Gain to Breakeven | 27.0% | 13.9% |
| Time to Breakeven | 57 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -24.0% | -17.9% |
| % Gain to Breakeven | 31.5% | 21.8% |
| Time to Breakeven | 77 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -38.5% | -53.4% |
| % Gain to Breakeven | 62.5% | 114.4% |
| Time to Breakeven | 91 days | 1085 days |
In The Past
Leggett & Platt's stock fell -33.5% during the 2025 US Tariff Shock. Such a loss loss requires a 50.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Leggett & Platt (LEG)
Leggett & Platt, Inc. (LEG) is a global diversified manufacturer that designs, produces, and markets a vast array of engineered components and products. Founded in 1883, the company serves as a foundational supplier across numerous industries, providing essential, often hidden, components that go into a wide range of finished goods. Its operations are organized into three primary segments: Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products, showcasing its broad industrial reach.
The company's core offerings include components for the bedding industry, such as steel rods, innersprings, specialty foams, adjustable beds, and machinery for mattress production, serving bedding manufacturers, big box and e-commerce retailers, and mattress brands. For the automotive and aerospace sectors, Leggett & Platt provides advanced systems like mechanical and pneumatic lumbar supports, seat suspension systems, fluid conveyance tubing, and engineered hydraulic cylinders to automobile OEMs, Tier 1 suppliers, aerospace OEMs, and mobile equipment manufacturers. Additionally, it manufactures motion hardware and structural components for upholstered and office furniture, alongside carpet cushion, structural fabrics, and geo components for flooring, construction, and textile industries, reaching furniture manufacturers, contractors, and distributors globally.
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"Intel Inside" for mattresses, recliners, and car seats.
Like 3M, but specializing in engineered components for products like bedding, furniture, and automotive instead of materials and adhesives.
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- Bedding Components: Manufactures innersprings, specialty foams, wire forms, steel rods, and drawn wires for mattress and foundation production.
- Finished Bedding Products: Offers private label finished mattresses and adjustable bed bases.
- Bedding Manufacturing Equipment: Provides industrial sewing, quilting, packaging, glue drying equipment, and machines for producing innersprings.
- Automotive Seating Systems: Designs and produces mechanical and pneumatic lumbar support, massage systems, seat suspension systems, motors, actuators, and cables for automotive seating.
- Aerospace & Fluid Conveyance Components: Supplies titanium, nickel, and stainless-steel tubing, formed tubes, and engineered hydraulic cylinders for aerospace, mobile equipment, and fluid conveyance systems.
- Furniture Motion Hardware: Produces steel mechanisms and motion hardware for reclining chairs, sofas, sleeper sofas, and lift chairs.
- Upholstered & Office Furniture Components: Provides springs, seat suspensions, bases, columns, back rests, casters, frames, and control devices for various types of seating.
- Flooring Products: Offers carpet cushion and hard surface flooring underlayment.
- Technical Textiles & Geo Components: Manufactures structural fabrics for industrial applications and geo components for construction and landscaping.
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Major Customers of Leggett & Platt (LEG)
Leggett & Platt primarily sells its engineered components and products to other businesses (B2B) across a wide range of industries. While the company description does not list specific major customer contracts by name, it identifies various categories of companies and industries that it serves. Below are examples of public companies that fit the descriptions of Leggett & Platt's major customer types:
- Automobile OEMs and Tier 1 Suppliers: Leggett & Platt provides mechanical and pneumatic lumbar support, seat suspension systems, motors, and actuators for automotive seating.
- Ford Motor Company (F)
- General Motors Company (GM)
- Lear Corporation (LEA)
- Adient plc (ADNT)
- Aerospace and Mobile Equipment OEMs: The company supplies titanium, nickel, and stainless-steel tubing, as well as engineered hydraulic cylinders for fluid conveyance systems.
- The Boeing Company (BA)
- Lockheed Martin Corporation (LMT)
- Caterpillar Inc. (CAT)
- Deere & Company (DE)
- Big Box, E-commerce, Department Stores, and Home Improvement Centers: These retailers sell Leggett & Platt's private label finished mattresses, adjustable beds, mattress foundations, and flooring underlayment to consumers.
- Walmart Inc. (WMT)
- Amazon.com, Inc. (AMZN)
- The Home Depot, Inc. (HD)
- Macy's, Inc. (M)
- Bedding and Furniture Manufacturers & Retailers: Leggett & Platt supplies innersprings, specialty foams, motion hardware for furniture, and components for soft seating.
- Tempur Sealy International, Inc. (TPX)
- MillerKnoll, Inc. (MLKN)
- Steelcase Inc. (SCS)
- Flooring Retailers and Distributors: For carpet cushion and hard surface flooring underlayment.
- Floor & Decor Holdings, Inc. (FND)
- Contractors, Landscapers, and Road Construction Companies: For structural fabrics and geo components.
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Karl G. Glassman, President and Chief Executive Officer
Karl G. Glassman was appointed President and Chief Executive Officer in May 2024 and has served as Board Chairman since 2020. He previously held the role of Executive Chairman of the Board from 2022 until his retirement in May 2023. Mr. Glassman served as CEO from 2016 to 2021, President from 2013 to 2019, Chief Operating Officer from 2006 to 2015, and Executive Vice President from 2002 to 2013. His tenure with Leggett & Platt began in 1982, and he has held various capacities within the company, including President of the former Residential Furnishings Segment from 1999 to 2006 and Senior Vice President from 1999 to 2002. He holds a degree in business management and finance from California State University—Long Beach.
Benjamin M. Burns, Executive Vice President and Chief Financial Officer
Benjamin M. Burns was appointed Executive Vice President and Chief Financial Officer in June 2023. Prior to this, he served as Executive Vice President – Business Support Services since February 2023, Senior Vice President – Business Support Services in 2022, and Vice President – Business Support Services from 2019 to 2022. He also held the positions of Vice President & Treasurer from 2017 to 2019 and Vice President Internal Audit & Due Diligence from 2012 to 2017. Mr. Burns joined Leggett & Platt in 2003 in the Internal Audit department. Before joining the company, he worked in internal audit positions for the Allstate Corporation. He is a Certified Public Accountant and a Certified Fraud Examiner, with a bachelor's degree in accounting and an MBA from Pittsburg State University.
Jennifer J. Davis, Executive Vice President – General Counsel
Jennifer J. Davis was appointed Executive Vice President – General Counsel effective January 1, 2024. She previously served as Vice President – Deputy General Counsel from 2020 to 2023, Deputy General Counsel from 2015 to 2020, and Associate General Counsel & Chief Litigation Counsel from 2012 to 2022. Ms. Davis joined Leggett & Platt's Legal Department in 2006. Before her time at Leggett & Platt, she practiced law at Stinson LLP in Kansas City for six years.
J. Tyson Hagale, Executive Vice President, President – Bedding Products
J. Tyson Hagale holds the title of Executive Vice President, President – Bedding Products. He was promoted to Senior Vice President and President of the Bedding Products segment in August 2021. Mr. Hagale joined Leggett & Platt in 2001 and has held various roles across the company, most recently as Vice President-Commercial for the domestic bedding value chain. He possesses extensive financial, strategic, and operational experience.
R. Samuel Smith, Jr., Executive Vice President, President – Specialized Products and Furniture, Flooring & Textile Products
R. Samuel Smith, Jr. serves as Executive Vice President, President – Specialized Products and Furniture, Flooring & Textile Products.
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Leggett & Platt faces key risks primarily related to the cyclical nature of its end markets and the volatility of raw material costs.
- Economic Sensitivity and Cyclical Demand: A significant portion of Leggett & Platt's business is tied to durable goods and construction-related industries, making it highly susceptible to economic downturns and fluctuations in consumer spending. The Bedding Products, Furniture, Flooring & Textile Products, and Specialized Products segments (automotive, aerospace, mobile equipment) are all sensitive to factors like housing starts, consumer confidence, automotive production volumes, and overall economic conditions. A decline in any of these areas could lead to reduced demand for its engineered components and finished products.
- Raw Material Cost Volatility: The company relies heavily on commodities such as steel (for rods, wires, and mechanisms), chemicals (for foam products), titanium, and nickel. Significant increases in the prices of these raw materials, which the company may not be able to fully pass on to customers, could adversely impact its cost of goods sold, profit margins, and overall financial performance.
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Leggett & Platt (symbol: LEG) operates in several addressable markets for its diverse range of engineered components and products. Below are the estimated market sizes for their main product categories:
Bedding Products Segment
- The global mattress market was estimated at USD 46.48 billion in 2024 and is projected to reach USD 67.51 billion by 2030.
- The U.S. mattress market generated a revenue of USD 12.93 billion in 2024 and is expected to reach USD 18.65 billion by 2030.
- The global adjustable beds and mattress market size was valued at USD 7.54 billion in 2024 and is poised to grow to USD 16.24 billion by 2033.
- The global adjustable bed frames market size was USD 4.24 billion in 2024 and is expected to reach USD 7.42 billion by 2032.
Specialized Products Segment
- The global hydraulic cylinder market size was valued at USD 15.7 billion in 2024 and is expected to grow to USD 24.7 billion by 2034.
- The global automotive seating market size was valued at USD 72.3 billion in 2024 and is estimated to reach USD 96.8 billion by 2034.
- The global aerospace & defense fluid conveyance systems market size was valued at USD 17.6 billion in 2023 and is expected to reach USD 23.1 billion by 2033.
Furniture, Flooring & Textile Products Segment
- The global recliner chair market size reached USD 4.6 billion in 2025 and is expected to reach USD 7.2 billion by 2034.
- The global recliner sofas market was valued at USD 7.42 billion in 2024 and is projected to reach USD 12.73 billion by 2033.
- The global flooring underlayment market size was estimated at approximately USD 3.5 billion in 2023 and is projected to reach around USD 5.8 billion by 2032.
- The global geotextile market size was valued at USD 7.91 billion in 2024 and is projected to grow to USD 15.02 billion by 2034.
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Leggett & Platt (LEG) anticipates several key drivers for future revenue growth over the next two to three years, focusing on a rebound in core markets, continued strength in specialized segments, and strategic product and market expansion.
- Recovery in Residential End Markets: Despite recent weakness in the U.S. bedding market and residential demand, Leggett & Platt expects to capture incremental volume once these markets begin to recover. The company's Bedding Products and Furniture, Flooring & Textile Products segments are highly sensitive to residential market health, making a rebound in these areas a significant potential growth driver.
- Continued Growth and Innovation in Specialized Products: The Specialized Products segment, which includes automotive, aerospace, and hydraulic cylinder components, has demonstrated demand strength. Leggett & Platt is focused on ongoing innovation within its automotive offerings and other industrial applications to drive further growth in this segment.
- Expansion of Specific Product Lines and Market Penetration: The company is pursuing growth through expanding particular product offerings, such as semi-finished products like Eco-Base and ComfortCore, and broadening its presence in Specialty Foam. Additionally, Leggett & Platt aims for deeper penetration into specialty textile markets and is investing in new facilities, such as a home furniture facility in Vietnam, to support this expansion.
- Strategic Acquisitions: While the immediate priority has been debt reduction, Leggett & Platt has indicated that selective acquisitions are a longer-term focus for capital allocation once their financial health further improves. Such strategic acquisitions could contribute to revenue growth by expanding their product portfolio or market reach.
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Share Repurchases
- Leggett & Platt has a standing authorization from its Board of Directors, reaffirmed in August 2024, to repurchase up to 10 million shares each calendar year. This authorization has been in place since 2004.
- Actual share repurchases have been minimal in recent years; in 2025, stock repurchases, along with issuances, were primarily related to employee benefit plans.
- The dollar amount of share repurchases (LTM as of June 27, 2024) was $5.2 million, a 95% decrease since 2018.
Share Issuance
- In 2025, Leggett & Platt reported 1.4 million shares issued, primarily related to employee benefit plans, with 0.3 million shares surrendered.
- The company's long-term goal, as stated in 2020 and 2021, includes a 1% contribution to Total Shareholder Return (TSR) from a reduced share count through stock buybacks, although recent activity shows net issuance.
Inbound Investments
- In December 2025, Somnigroup International Inc. submitted an unsolicited, non-binding proposal to acquire all outstanding common shares of Leggett & Platt in an all-stock transaction.
- The proposal valued Leggett & Platt shares at $12.00 each, representing a 30.3% premium over the average closing price of Leggett & Platt's shares during the prior 30 trading days.
- Leggett & Platt's Board of Directors announced they would review and evaluate this proposal.
Outbound Investments
- Leggett & Platt completed the acquisition of Pacoma (hydraulic cylinders manufacturer) in September 2022 and Kayfoam in June 2021, with undisclosed financial terms.
- In April 2025, the company divested its Aerospace business to Tinicum Capital for $285 million, yielding net proceeds of $240 million. This divestiture was part of a strategic restructuring to reduce debt and streamline its portfolio.
- As part of its restructuring plan, Leggett & Platt divested a small U.S. machinery business and sold several properties, generating cash proceeds from real estate sales.
Capital Expenditures
- Capital expenditures were $82 million in 2024.
- In 2025, capital expenditures totaled $57 million.
- For 2026, anticipated capital expenditures are projected to be between $100 million and $115 million.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Leggett & Platt Earnings Notes | 12/16/2025 | |
| Does Leggett & Platt Stock Lead the Pack? | 12/02/2025 | |
| Would You Still Hold Leggett & Platt Stock If It Fell 30%? | 10/17/2025 | |
| Leggett & Platt (LEG) Debt Comparison | 08/08/2025 | |
| Leggett & Platt (LEG) Operating Cash Flow Comparison | 08/08/2025 | |
| Leggett & Platt (LEG) Net Income Comparison | 08/08/2025 | |
| Leggett & Platt (LEG) Operating Income Comparison | 08/08/2025 | |
| Leggett & Platt (LEG) Tax Expense Comparison | 08/08/2025 | |
| Leggett & Platt (LEG) EBITDA Comparison | 08/08/2025 | |
| Leggett & Platt (LEG) Revenue Comparison | 08/08/2025 | |
| ARTICLES | ||
| Leggett & Platt Stock vs Competition: Who Wins? | 12/02/2025 |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 40.67 |
| Mkt Cap | 2.3 |
| Rev LTM | 9,445 |
| Op Inc LTM | 330 |
| FCF LTM | 240 |
| FCF 3Y Avg | 269 |
| CFO LTM | 411 |
| CFO 3Y Avg | 440 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 0.9% |
| Rev Chg 3Y Avg | 1.8% |
| Rev Chg Q | 3.9% |
| QoQ Delta Rev Chg LTM | 0.9% |
| Op Inc Chg LTM | -2.4% |
| Op Inc Chg 3Y Avg | 7.1% |
| Op Mgn LTM | 5.3% |
| Op Mgn 3Y Avg | 5.3% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 6.3% |
| CFO/Rev 3Y Avg | 7.5% |
| FCF/Rev LTM | 4.2% |
| FCF/Rev 3Y Avg | 4.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 2.3 |
| P/S | 0.4 |
| P/Op Inc | 7.8 |
| P/EBIT | 10.0 |
| P/E | 20.4 |
| P/CFO | 5.6 |
| Total Yield | 7.8% |
| Dividend Yield | 2.0% |
| FCF Yield 3Y Avg | 11.3% |
| D/E | 0.5 |
| Net D/E | 0.4 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 1.0% |
| 3M Rtn | 19.2% |
| 6M Rtn | 9.1% |
| 12M Rtn | 13.3% |
| 3Y Rtn | 10.3% |
| 1M Excs Rtn | 2.5% |
| 3M Excs Rtn | 3.0% |
| 6M Excs Rtn | 0.2% |
| 12M Excs Rtn | -4.6% |
| 3Y Excs Rtn | -55.7% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Bedding Products | 1,579 | 1,777 | 1,997 | 2,397 | 2,500 |
| Furniture, Flooring & Textile Products | 1,382 | 1,403 | 1,492 | 1,687 | 1,631 |
| Specialized Products | 1,124 | 1,242 | 1,281 | 1,120 | 1,002 |
| Inter- Segment Sales | -30 | -38 | -45 | -57 | -61 |
| Total | 4,055 | 4,384 | 4,725 | 5,147 | 5,073 |
| $ Mil | 2015 | 2014 | 2013 | 2003 | 2002 |
|---|---|---|---|---|---|
| Residential Furnishings | 205 | 161 | 172 | 212 | 226 |
| Specialized Products | 156 | 117 | 27 | 49 | 48 |
| Industrial Materials | 50 | 56 | 72 | 38 | 5 |
| Commercial Products | 42 | ||||
| Intersegment eliminations | 33 | -16 | -2 | ||
| Commercial Fixtures & Components | 13 | 15 | |||
| Aluminum Products | 36 | 31 | |||
| Commercial Furnishings | 27 | 48 | |||
| Total | 486 | 332 | 285 | 361 | 359 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Unallocated asset and other | 1,807 | ||||
| Average current liabilities included in segment numbers above | 650 | 693 | 736 | 794 | 814 |
| Bedding Products | 636 | 742 | 815 | 931 | 836 |
| Specialized Products | 363 | 399 | 399 | 350 | 317 |
| Furniture, Flooring & Textile Products | 331 | 346 | 390 | 423 | 374 |
| Difference between average assets and year-end balance sheet | -250 | -152 | -109 | -153 | 138 |
| Unallocated assets | 1,634 | 2,403 | 2,841 | 2,828 | |
| Total | 3,536 | 3,662 | 4,634 | 5,186 | 5,307 |
Price Behavior
| Market Price | $11.94 | |
| Market Cap ($ Bil) | 1.7 | |
| First Trading Date | 11/05/1987 | |
| Distance from 52W High | -6.5% | |
| 50 Days | 200 Days | |
| DMA Price | $10.52 | $10.43 |
| DMA Trend | up | up |
| Distance from DMA | 13.6% | 14.5% |
| 3M | 1YR | |
| Volatility | 51.8% | 49.2% |
| Downside Capture | 138.98 | 134.55 |
| Upside Capture | 152.87 | 130.10 |
| Correlation (SPY) | 43.8% | 39.8% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.77 | 1.25 | 1.52 | 1.55 | 1.54 | 1.06 |
| Up Beta | 1.54 | 2.41 | 2.23 | 2.17 | 2.03 | 1.07 |
| Down Beta | 1.78 | 0.66 | 0.42 | 1.58 | 1.81 | 1.11 |
| Up Capture | 110% | 130% | 146% | 136% | 144% | 46% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 11 | 20 | 29 | 55 | 113 | 322 |
| Down Capture | -50% | 103% | 150% | 128% | 117% | 106% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 10 | 20 | 33 | 69 | 135 | 418 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LEG | |
|---|---|---|---|---|
| LEG | 26.5% | 49.1% | 0.63 | - |
| Sector ETF (XLY) | 8.0% | 18.6% | 0.28 | 45.5% |
| Equity (SPY) | 21.7% | 12.5% | 1.29 | 39.7% |
| Gold (GLD) | 23.1% | 27.7% | 0.73 | 6.2% |
| Commodities (DBC) | 21.3% | 18.6% | 0.90 | -23.2% |
| Real Estate (VNQ) | 13.6% | 13.8% | 0.68 | 31.0% |
| Bitcoin (BTCUSD) | -42.0% | 42.7% | -1.15 | 11.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LEG | |
|---|---|---|---|---|
| LEG | -22.2% | 42.5% | -0.46 | - |
| Sector ETF (XLY) | 6.6% | 23.9% | 0.24 | 41.9% |
| Equity (SPY) | 13.3% | 17.1% | 0.60 | 39.6% |
| Gold (GLD) | 17.9% | 18.3% | 0.79 | 3.4% |
| Commodities (DBC) | 6.9% | 19.5% | 0.25 | 1.5% |
| Real Estate (VNQ) | 3.1% | 18.9% | 0.06 | 41.5% |
| Bitcoin (BTCUSD) | 12.2% | 53.8% | 0.41 | 14.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LEG | |
|---|---|---|---|---|
| LEG | -10.2% | 39.8% | -0.14 | - |
| Sector ETF (XLY) | 12.7% | 22.1% | 0.53 | 52.6% |
| Equity (SPY) | 15.4% | 18.0% | 0.73 | 52.7% |
| Gold (GLD) | 12.1% | 16.1% | 0.61 | 1.2% |
| Commodities (DBC) | 5.7% | 18.0% | 0.25 | 13.3% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 51.4% |
| Bitcoin (BTCUSD) | 59.0% | 66.2% | 0.99 | 12.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 6/10/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/7/2026 | -9.4% | -17.2% | -12.0% |
| 2/11/2026 | -7.7% | -1.8% | -17.5% |
| 10/27/2025 | 15.4% | -2.1% | 8.7% |
| 7/31/2025 | -15.4% | -9.6% | 0.6% |
| 4/28/2025 | 31.6% | 27.8% | 23.5% |
| 2/13/2025 | 4.5% | -4.6% | -18.8% |
| 10/28/2024 | 4.0% | 0.9% | 2.6% |
| 8/1/2024 | 1.0% | -2.2% | -1.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 10 | 10 |
| # Negative | 12 | 14 | 14 |
| Median Positive | 4.2% | 2.7% | 6.8% |
| Median Negative | -6.2% | -4.0% | -5.6% |
| Max Positive | 31.6% | 27.8% | 23.5% |
| Max Negative | -26.7% | -27.1% | -39.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/7/2026 | -9.4% | -17.2% | -12.0% |
| 2/11/2026 | -7.7% | -1.8% | -17.5% |
| 10/27/2025 | 15.4% | -2.1% | 8.7% |
| 7/31/2025 | -15.4% | -9.6% | 0.6% |
| 4/28/2025 | 31.6% | 27.8% | 23.5% |
| 2/13/2025 | 4.5% | -4.6% | -18.8% |
| 10/28/2024 | 4.0% | 0.9% | 2.6% |
| 8/1/2024 | 1.0% | -2.2% | -1.8% |
| 4/30/2024 | -26.7% | -27.1% | -39.0% |
| 2/8/2024 | -12.1% | -13.8% | -11.2% |
| 10/30/2023 | -1.3% | -0.6% | -3.2% |
| 7/31/2023 | 4.4% | 1.5% | -3.6% |
| 5/1/2023 | 3.0% | 5.0% | -2.8% |
| 2/6/2023 | -3.2% | -4.1% | -7.6% |
| 10/31/2022 | -1.3% | 0.5% | 5.5% |
| 8/1/2022 | 0.6% | 2.6% | -1.8% |
| 5/2/2022 | 5.9% | 2.0% | 6.7% |
| 2/7/2022 | 2.6% | 2.8% | -1.2% |
| 11/1/2021 | -9.5% | -8.0% | -15.7% |
| 8/2/2021 | 1.6% | -0.9% | 0.7% |
| 5/3/2021 | 5.9% | 13.9% | 7.5% |
| 2/8/2021 | -1.4% | -3.4% | 13.0% |
| 11/2/2020 | -4.7% | -4.0% | -1.9% |
| 8/3/2020 | -4.3% | 3.5% | 6.9% |
| SUMMARY STATS | |||
| # Positive | 12 | 10 | 10 |
| # Negative | 12 | 14 | 14 |
| Median Positive | 4.2% | 2.7% | 6.8% |
| Median Negative | -6.2% | -4.0% | -5.6% |
| Max Positive | 31.6% | 27.8% | 23.5% |
| Max Negative | -26.7% | -27.1% | -39.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 10/31/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 10/31/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 02/22/2022 | 10-K |
| 09/30/2021 | 11/05/2021 | 10-Q |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 05/06/2021 | 10-Q |
| 12/31/2020 | 02/24/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 02/20/2020 | 10-K |
| 09/30/2019 | 11/05/2019 | 10-Q |
| 06/30/2019 | 08/06/2019 | 10-Q |
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Home Furnishings Resources |
| Furniture Today |
| Home Accents Today |
| Business of Home |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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