1. A Financial Analysis

2. History
 1883: Leggett invents the first steel-
coiled bed spring
 1895: First L&P factory created
 1901: Company becomes Incorporated
 1967: Company goes Public
 1971: Listed on NASDQE
 1979: Listed on NYSE

3. Steel-Coiled
Bed Spring
The first steel-coiled
bed spring was
patented in 1885

4. Financial Success
 1990: Earned more than 1 billion in sales
 1998: Included in the Fortune 500
Companies
 1999: Added to the S&P Index
 2013: Dividend Aristocrats

5. 27.5
24.3 24.4
17.6
12.5
19.6
23.6
22.0
30.7
32.8 33.4
0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
D
o
l
l
a
r
s
April 2003-April 2013
Leggett & Platt 10 Year Stock Prices
$1 Per Share

6. Strategic Direction
 Divest or fix low-performing
businesses
 Return more cash to investors
 Improve Margins
 Improve ROI
 Grow the company

7. Current Financial Data
 Balance Sheets
 Statement of Cash Flows
 Financial Ratios

8. Profitability Ratios
GPM
ROA
ROS
ROE

9. Efficiency Ratios
AR
Turnover
Inventory
Turnover
Asset
Turnover

10. Liquidity Ratio
Current Ratio

11. Solvency Ratios
Debt Ratio
Debt to Equity Ratio
Times Interest Ratio
Free Cash Flow

12. Industry Comparison
Leggett & Platt
ROS = 5%
ROA = 6%
ROE =13%
GPM =18%
ART = 7.4
IT = 6.8
AT = 1.2
CR = 2.1
DR = 55%
DTE = 2.1
TIE = 7.2
FCF = 253.90
Average Industry
ROS = 5%
ROA = 6%
ROE =5%
GPM =27%
ART = 14.4
IT = 7
AT = 1.3
CR = 1.8
DR = 61%
DTE = 8.8
TIE = 9.2
FCF = 1884.7

13. Invest in Leggett & Platt?