Leggett & Platt (LEG) closed out FY 2025 with Q4 revenue of US$938.6 million and basic EPS of US$0.18. On a trailing twelve month basis, the company generated US$4.1 billion of revenue and EPS of US$1.70 as it moved back into positive net income of US$235.4 million. Over recent quarters, revenue has ranged from US$1.1 billion in Q2 2025 to US$938.6 million in Q4 2025. Quarterly EPS moved from US$0.10 in Q4 2024 to US$0.92 in Q3 2025 before landing at US$0.18 in the latest quarter, giving investors a mixed set of signals on the earnings line. Altogether, the print points to margins that have stabilized enough to support profitability, but still leave room for debate about how durable those gains might be.

See our full analysis for Leggett & Platt.

With the numbers on the table, the next step is to see how this earnings profile lines up with the most common narratives around Leggett & Platt, highlighting where the story is supported and where it starts to be questioned.

EPS Swings While TTM Profits Recover

• Across FY 2025, basic EPS moved between US$0.18 and US$0.92 per quarter, while trailing twelve month EPS ended at US$1.70 backed by US$235.4 million of net income.
• Analysts' consensus view expects earnings to soften over time even after this return to profit, which contrasts with the recent TTM rebound:
  • Forecasts in the dataset point to earnings declining about 1.8% per year over the next three years despite positive TTM EPS.
  • At the same time, the five year history shows earnings declining 41.2% per year, so the latest TTM profit sits against a tougher long term trend that the consensus narrative flags as a key risk.

Revenue Stabilizes Around US$4.1b

• On a trailing basis, revenue came in at US$4.1b against quarterly prints between US$938.6 million and US$1.1b over the last six reported quarters, showing a fairly tight range rather than sharp swings.
• Bears focus on demand and pricing pressure across bedding and home related products, and the recent revenue pattern partly echoes those concerns:
  • Consensus commentary highlights bedding sales down 11% year over year and expectations of mid teens volume declines, which fits with quarterly revenue drifting from US$1.1b to under US$1.0b.
  • Critics also point to aggressive discounting in Flooring and Textiles, and the modest 1.3% projected annual revenue growth sits close to the current US$4.1b run rate, which the bearish narrative treats as evidence that top line momentum could stay muted.

On these numbers, skeptics argue the recent revenue range leaves little margin for error if pricing pressure continues and volumes stay soft in bedding heavy segments. 🐻 Leggett & Platt Bear Case

Low 6.6x P/E Versus DCF Fair Value

• With a share price of US$11.45 and a P/E of 6.6x compared to 13.6x for the US Consumer Durables industry and 16.2x for peers, the stock screens as cheaper, while the DCF fair value of US$14.48 sits above the current price.
• Bulls lean on this valuation gap and on margin work in the business, and the latest profitability numbers give that optimistic view some support but not a clean win:
  • TTM net income turned positive at US$235.4 million, which heavily supports the bullish idea that restructuring and cost actions are now visible in the bottom line.
  • At the same time, the company carries relatively high debt and the dividend track record is described as unstable, which challenges the bullish claim that the current 6.6x P/E and discount to the US$14.48 DCF fair value fully reflect the balance sheet and payout risks.

If you are weighing that low P/E against the debt load and earnings trend, it is worth seeing how bullish investors join the dots across restructuring, tariffs and valuation. 🐂 Leggett & Platt Bull Case

Next Steps

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Leggett & Platt on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.

See the numbers differently? Take a couple of minutes to test your own view against the data and turn it into a clear, shareable story: Do it your way

A great starting point for your Leggett & Platt research is our analysis highlighting 3 key rewards and 3 important warning signs that could impact your investment decision.

See What Else Is Out There

Leggett & Platt’s low 6.6x P/E, softer earnings outlook, revenue pressures and debt load suggest the balance of risk and reward is not straightforward.

If that mix of earnings swings and balance sheet questions feels uncomfortable, you may want to compare it with 84 resilient stocks with low risk scores that aim to keep potential downside in tighter check.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.