Leggett & Platt, Incorporated (LEG)

Industry: Furnishings, Fixtures & Appliances Model: Peers Multiples Valuation

Valuation Snapshot

Ticker	Rank	Name	Rev TTM (M)	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
000921.SZ	7	Hisense Home Appli	13,299	10.53	8.89	7.13	6.32	15.42	8.05
ARCLK.IS	8	Arçelik Anonim Si	10,841	-	-	5.69	3.62	20.77	24.19
TPX	9	Tempur Sealy Inter	6,816	38.36	36.63	16.80	15.21	11.20	17.79
HWDN.L	10	Howden Joinery Gro	6,291	9.19	8.07	5.23	3.34	10.42	6.44
SN	11	SharkNinja, Inc.	6,085	24.29	24.29	15.82	15.82	13.61	18.63
1999.HK	12	Man Wah Holdings L	4,597	5.67	4.72	3.37	2.52	3.71	3.31
000521.SZ	13	Changhong Meiling	4,433	11.16	11.16	9.98	8.00	77.49	11.24
LEG	14	Leggett & Platt, I	4,173	5.49	5.52	4.91	5.06	9.31	11.08
PATK	15	Patrick Industries	3,873	27.91	25.66	15.32	14.19	18.39	16.88
MLKN	16	MillerKnoll, Inc.	3,764	-	-	15.04	13.44	14.52	35.00
VCP.L	17	Victoria PLC	3,406	-	-	16.30	11.10	-	-
021240.KS	18	COWAY Co., Ltd.	3,261	12.27	11.16	4.76	4.16	9.26	9.20
002032.SZ	19	Zhejiang Supor Co.	3,238	17.47	16.73	15.60	14.64	19.53	13.89
5947.T	20	Rinnai Corporation	2,986	17.04	16.08	5.88	5.55	9.47	7.33
603816.SS	21	Jason Furniture (H	2,795	15.34	14.61	9.46	8.52	9.19	10.92
MBC	22	MasterBrand, Inc.	2,758	20.61	20.61	9.53	9.53	15.83	12.77

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	13.81	12.89	9.46	8.00	12.41	11.08
Full Range Median Multiple	16.19	15.35	9.53	8.52	14.07	12.00
Industry Multiple	17.49	16.55	10.39	9.06	17.77	13.97
Market Implied Multiple	7.76	7.81	5.93	6.12	11.25	13.40
Company (LEG) Multiple	5.49	5.52	4.91	5.06	9.31	11.08
(*) Net Income / EBITDA / Revenue	224	223	496	481	262	220
Winsorized Enterprise Value	N/A	N/A	4,691	3,846	3,246	2,434
Full Range Median Enterprise Value	N/A	N/A	4,726	4,097	3,680	2,636
(-) Net Debt	1,203	1,203	1,203	1,203	1,203	1,203
Winsorized Equity Value	3,098	2,873	3,488	2,643	2,043	1,231
Full Range Median Equity Value	3,633	3,422	3,523	2,894	2,477	1,434
(/) Shares Outstanding	139	139	139	139	139	139
Winsorized Fair Value	$22.34	$20.72	$25.15	$19.05	$14.73	$8.87
Full Range Median Fair Value	$26.19	$24.67	$25.40	$20.87	$17.86	$10.34
Current Price	$12.55	$12.55	$12.55	$12.55	$12.55	$12.55
Upside / Downside	77.97%	65.06%	100.41%	51.83%	17.35%	-29.29%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$15.63	$14.50	$17.61	$13.34	$10.31	$6.21
Buy / Don't Buy	BUY	BUY	BUY	BUY	Don’t Buy	Don’t Buy