LSI Industries Inc. (LYTS) 10-Year Financial Performance & Capital Metrics

LYTS • • Industrial / General

TechnologyTech Hardware & EquipmentDisplay & Visualization SystemsElectronic Displays & Signage

AboutLSI Industries Inc. manufactures and sells non-residential lighting and retail display solutions in the United States, Canada, Mexico, Australia, and Latin America. It operates in two segments, Lighting and Display Solutions. The Lighting segment manufactures, markets, and sells non-residential outdoor and indoor lighting solutions. It also offers lighting control products, including sensors, photocontrols, dimmers, motion detection, and Bluetooth systems to support lighting fixtures; and designs, engineers, and manufactures electronic circuit boards, assemblies, and sub-assemblies. The Display Solutions segment manufactures, sells, and installs exterior and interior visual image and display elements, including printed and structural graphics, digital signage, menu board systems, display fixtures, refrigerated displays, and custom display elements. Its products comprise signage and canopy graphics, pump dispenser graphics, building fascia graphics, decals, interior signage and marketing graphics, aisle markers, wall mural graphics, and refrigerated and non-refrigerated merchandising displays. This segment also implements, installs, and provides program management services, such as installation management, site surveys, permitting, and content management; and manages and executes the implementation of large rollout programs. It serves petroleum/convenience, parking lot and garage, quick-service restaurant, retail and grocery store, automotive, warehouse, and sports complex markets. The company was founded in 1976 and is headquartered in Cincinnati, Ohio.Show more

Revenue $573M +22.1%
EBITDA $48M +6.2%
Net Income $24M -2.4%
EPS (Diluted) 0.79 -4.8%
Gross Margin 24.73% -12.8%
EBITDA Margin 8.43% -13.0%
Operating Margin 6.24% -17.5%
Net Margin 4.25% -20.0%
ROE 11.21% -14.3%
ROIC 9.48% -12.1%
Debt/Equity 0.29 -18.0%
Interest Coverage 11.43 -30.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 20.5%
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 13.4%
✓Efficient asset utilization: 1.4x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y6.42%

5Y13.41%

3Y8%

TTM22.35%

Profit (Net Income) CAGR

10Y16.82%

5Y20.51%

3Y17.5%

TTM5.65%

EPS CAGR

10Y14.17%

5Y17.02%

3Y13.52%

TTM1.27%

ROCE

10Y Avg6.13%

5Y Avg11.48%

3Y Avg14.48%

Latest12.58%

Peer Comparison

Electronic Displays & Signage

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LYTSLSI Industries Inc.	617.81M	19.87	25.15	22.09%	4.21%	10.34%	5.61%	0.29
OSTOstin Technology Group Co., Ltd.	8.98M	1.70	-0.25	-43.57%	-27.7%	-364.93%		3.53
DAKTDaktronics, Inc.	1.07B	21.91	-104.33	-7.53%	0.96%	2.48%	7.32%	0.06

Profit & Loss

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Sales/Revenue+	322.2M	331.39M	342.02M	328.85M	305.56M	315.61M	455.12M	496.98M	469.64M	573.38M
Revenue Growth %	0.05%	0.03%	0.03%	-0.04%	-0.07%	0.03%	0.44%	0.09%	-0.06%	0.22%
Cost of Goods Sold+	238.53M	249.51M	252.79M	255.14M	232.03M	236.64M	345.91M	360.03M	336.47M	431.6M
COGS % of Revenue	0.74%	0.75%	0.74%	0.78%	0.76%	0.75%	0.76%	0.72%	0.72%	0.75%
Gross Profit+	83.67M	81.88M	89.23M	73.71M	73.53M	78.97M	109.21M	136.94M	133.17M	141.78M
Gross Margin %	0.26%	0.25%	0.26%	0.22%	0.24%	0.25%	0.24%	0.28%	0.28%	0.25%
Gross Profit Growth %	0.12%	-0.02%	0.09%	-0.17%	-0%	0.07%	0.38%	0.25%	-0.03%	0.06%
Operating Expenses+	69.72M	77.27M	79.75M	72.47M	60.45M	70.94M	88.01M	99.92M	97.65M	106.01M
OpEx % of Revenue	0.22%	0.23%	0.23%	0.22%	0.2%	0.22%	0.19%	0.2%	0.21%	0.18%
Selling, General & Admin	69.72M	77.27M	79.75M	72.47M	68.78M	70.92M	88M	99.88M	97.62M	105.94M
SG&A % of Revenue	0.22%	0.23%	0.23%	0.22%	0.23%	0.22%	0.19%	0.2%	0.21%	0.18%
Research & Development	5.55M	5.7M	5.95M	5.27M	0	0	0	0	0	0
R&D % of Revenue	0.02%	0.02%	0.02%	0.02%	-	-	-	-	-	-
Other Operating Expenses	0	0	0	-138K	-8.33M	26K	12K	35K	32K	75K
Operating Income+	13.96M	3.61M	-21.65M	-9.12M	13.08M	8.03M	21.2M	37.03M	35.52M	35.77M
Operating Margin %	0.04%	0.01%	-0.06%	-0.03%	0.04%	0.03%	0.05%	0.07%	0.08%	0.06%
Operating Income Growth %	0.85%	-0.74%	-7%	0.58%	2.43%	-0.39%	1.64%	0.75%	-0.04%	0.01%
EBITDA+	20.63M	11.87M	-11.43M	1.11M	21.73M	16.14M	31.32M	46.69M	45.52M	48.34M
EBITDA Margin %	0.06%	0.04%	-0.03%	0%	0.07%	0.05%	0.07%	0.09%	0.1%	0.08%
EBITDA Growth %	0.49%	-0.42%	-1.96%	1.1%	18.65%	-0.26%	0.94%	0.49%	-0.03%	0.06%
D&A (Non-Cash Add-back)	6.68M	8.26M	10.22M	10.22M	8.65M	8.11M	10.12M	9.66M	10M	12.57M
EBIT	14.04M	3.7M	-21.61M	-19.99M	12.57M	8.2M	21.05M	37.01M	35.26M	36.17M
Net Interest Income+	48K	-529K	-1.68M	-2.24M	-870K	-268K	-1.97M	-3.69M	-2.16M	-3.13M
Interest Income	84K	91K	39K	38K	3K	19K	0	0	0	0
Interest Expense	36K	620K	1.72M	2.28M	873K	287K	1.97M	3.69M	2.16M	3.13M
Other Income/Expense	48K	-3.51M	-1.68M	-13.15M	-1.38M	-114K	-2.12M	-3.7M	-2.42M	-2.73M
Pretax Income+	14M	3.08M	-23.33M	-22.27M	11.69M	7.92M	19.09M	33.33M	33.1M	33.04M
Pretax Margin %	0.04%	0.01%	-0.07%	-0.07%	0.04%	0.03%	0.04%	0.07%	0.07%	0.06%
Income Tax+	4.52M	80K	-3.79M	-5.93M	2.1M	2.05M	4.05M	7.56M	8.12M	8.65M
Effective Tax Rate %	0.68%	0.97%	0.84%	0.73%	0.82%	0.74%	0.79%	0.77%	0.75%	0.74%
Net Income+	9.48M	3M	-19.54M	-16.34M	9.59M	5.87M	15.03M	25.76M	24.98M	24.38M
Net Margin %	0.03%	0.01%	-0.06%	-0.05%	0.03%	0.02%	0.03%	0.05%	0.05%	0.04%
Net Income Growth %	0.84%	-0.68%	-7.51%	0.16%	1.59%	-0.39%	1.56%	0.71%	-0.03%	-0.02%
Net Income (Continuing)	9.48M	3M	-19.54M	-16.34M	9.59M	5.87M	15.03M	25.76M	24.98M	24.38M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.37	0.12	-0.76	-0.63	0.36	0.21	0.54	0.88	0.83	0.79
EPS Growth %	0.76%	-0.68%	-7.33%	0.17%	1.57%	-0.42%	1.57%	0.63%	-0.06%	-0.05%
EPS (Basic)	0.38	0.12	-0.76	-0.63	0.37	0.22	0.55	0.92	0.86	0.82
Diluted Shares Outstanding	25.59M	25.99M	25.87M	26.11M	26.47M	27.44M	27.99M	29.32M	30.07M	30.83M
Basic Shares Outstanding	24.99M	25.44M	25.71M	26.11M	26.27M	26.69M	27.29M	28.13M	29.05M	29.9M
Dividend Payout Ratio	0.44%	1.68%	-	-	0.55%	0.9%	0.35%	0.21%	0.23%	0.24%

Balance Sheet

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Total Current Assets+	127.74M	107.13M	110.08M	110.98M	85.86M	125.01M	158.92M	149.88M	162.5M	194.17M
Cash & Short-Term Investments	33.84M	3.04M	3.18M	966K	3.52M	2.28M	2.46M	1.83M	4.11M	3.46M
Cash Only	33.84M	3.04M	3.18M	966K	3.52M	2.28M	2.46M	1.83M	4.11M	3.46M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	46.98M	49.66M	52.39M	55.61M	40.61M	58.96M	78.79M	80.8M	81.82M	104.35M
Days Sales Outstanding	53.22	54.69	55.91	61.72	48.51	68.19	63.19	59.34	63.59	66.43
Inventory	44.14M	50.01M	50.99M	43.51M	38.75M	58.94M	74.42M	63.72M	70.91M	0
Days Inventory Outstanding	67.55	73.15	73.63	62.25	60.96	90.91	78.53	64.6	76.93	-
Other Current Assets	2.79M	4.43M	3.52M	10.89M	2.98M	4.83M	3.24M	3.53M	5.65M	86.36M
Total Non-Current Assets+	67.82M	149.55M	119.44M	90.12M	86.41M	161.81M	152.16M	146.27M	186.3M	202.2M
Property, Plant & Equipment	47.46M	47.35M	43.7M	31.98M	35.2M	42.13M	35.82M	34.35M	48.87M	31.15M
Fixed Asset Turnover	6.79x	7.00x	7.83x	10.28x	8.68x	7.49x	12.71x	14.47x	9.61x	18.40x
Goodwill	10.51M	58.54M	30.54M	10.37M	10.37M	43.79M	45.03M	45.03M	57.4M	64.55M
Intangible Assets	5.59M	38.17M	35.41M	32.65M	29.96M	72.77M	67.96M	63.2M	73.92M	78.26M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	4.26M	5.49M	9.79M	15.12M	10.87M	3.12M	3.35M	3.69M	6.12M	28.24M
Total Assets+	195.56M	256.68M	229.52M	201.1M	172.26M	286.82M	311.08M	296.15M	348.8M	396.36M
Asset Turnover	1.65x	1.29x	1.49x	1.64x	1.77x	1.10x	1.46x	1.68x	1.35x	1.45x
Asset Growth %	0.07%	0.31%	-0.11%	-0.12%	-0.14%	0.67%	0.08%	-0.05%	0.18%	0.14%
Total Current Liabilities+	39.23M	45.42M	42.2M	39.88M	34.65M	70.89M	77.08M	76.56M	79.21M	97.35M
Accounts Payable	13.89M	19.36M	17.93M	18.66M	14.22M	32.98M	34.78M	29.21M	32.19M	48.53M
Days Payables Outstanding	21.26	28.31	25.88	26.7	22.36	50.87	36.7	29.61	34.92	41.04
Short-Term Debt	0	0	0	0	0	0	3.57M	3.57M	3.57M	3.57M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Other Current Liabilities	10.57M	14M	12.6M	12.82M	10.83M	10.05M	9.61M	13.66M	10.22M	37.37M
Current Ratio	3.26x	2.36x	2.61x	2.78x	2.48x	1.76x	2.06x	1.96x	2.05x	1.99x
Quick Ratio	2.13x	1.26x	1.40x	1.69x	1.36x	0.93x	1.10x	1.13x	1.16x	1.99x
Cash Conversion Cycle	99.5	99.53	103.66	97.27	87.11	108.23	105.01	94.33	105.6	-
Total Non-Current Liabilities+	807K	51.18M	48.07M	41.29M	11.91M	84.76M	86.23M	42.01M	65.24M	68.29M
Long-Term Debt	0	49.7M	45.36M	39.54M	0	68.18M	76.03M	31.63M	50.66M	44.99M
Capital Lease Obligations	0	0	0	0	10.78M	12.41M	7.02M	6.91M	11.9M	12.05M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	3.21M
Other Non-Current Liabilities	807K	1.48M	2.71M	1.75M	1.14M	4.17M	3.18M	3.47M	2.68M	8.05M
Total Liabilities	40.04M	96.6M	90.27M	81.16M	46.56M	155.65M	163.31M	118.57M	144.44M	165.64M
Total Debt+	0	49.7M	45.36M	39.54M	11.39M	82.28M	90.63M	45.96M	72.02M	66.64M
Net Debt	-33.84M	46.66M	42.18M	38.58M	7.87M	79.99M	88.17M	44.14M	67.91M	63.18M
Debt / Equity	-	0.31x	0.33x	0.33x	0.09x	0.63x	0.61x	0.26x	0.35x	0.29x
Debt / EBITDA	-	4.19x	-	35.75x	0.52x	5.10x	2.89x	0.98x	1.58x	1.38x
Net Debt / EBITDA	-1.64x	3.93x	-	34.88x	0.36x	4.96x	2.82x	0.95x	1.49x	1.31x
Interest Coverage	387.67x	5.82x	-12.60x	-4.00x	14.98x	27.98x	10.77x	10.04x	16.47x	11.43x
Total Equity+	155.52M	160.08M	139.25M	119.94M	125.7M	131.17M	147.77M	177.58M	204.35M	230.72M
Equity Growth %	0.09%	0.03%	-0.13%	-0.14%	0.05%	0.04%	0.13%	0.2%	0.15%	0.13%
Book Value per Share	6.08	6.16	5.38	4.59	4.75	4.78	5.28	6.06	6.80	7.48
Total Shareholders' Equity	155.52M	160.08M	139.25M	119.94M	125.7M	131.17M	147.77M	177.58M	204.35M	230.72M
Common Stock	113.65M	120.26M	124.1M	125.73M	127.71M	132.53M	139.5M	148.69M	156.37M	163.69M
Retained Earnings	41.87M	39.82M	15.12M	-5.81M	-1.92M	-1.41M	8.22M	28.55M	47.79M	66.2M
Treasury Stock	0	-2.46M	-2.11M	-1.47M	-1.12M	-2.45M	-5.93M	-7.17M	-8.89M	-10.01M
Accumulated OCI	-82.3M	-77.15M	-77.18M	16K	-93K	49K	45K	339K	202K	829K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	17.79M	21.03M	11.5M	11.49M	29.71M	28.01M	-3.86M	49.59M	43.39M	38.12M
Operating CF Margin %	0.06%	0.06%	0.03%	0.03%	0.1%	0.09%	-0.01%	0.1%	0.09%	0.07%
Operating CF Growth %	-0.15%	0.18%	-0.45%	-0%	1.59%	-0.06%	-1.14%	13.84%	-0.12%	-0.12%
Net Income	9.48M	3M	-19.54M	-16.34M	9.59M	5.87M	15.03M	25.76M	24.98M	24.38M
Depreciation & Amortization	6.68M	8.26M	10.22M	10.22M	8.65M	8.11M	10.12M	9.66M	10M	12.57M
Stock-Based Compensation	2.9M	3.05M	3.01M	981K	599K	1.98M	3.29M	3.84M	4.01M	4.94M
Deferred Taxes	-1.12M	-779K	-4.75M	-6.37M	3.92M	-1.06M	-342K	-418K	-1.61M	-2.38M
Other Non-Cash Items	2.52M	2.9M	31.47M	25.14M	-5.28M	3.78M	6.33M	4.92M	1.43M	2.8M
Working Capital Changes	-2.34M	4.82M	-8.92M	-2.14M	12.22M	9.33M	-38.29M	5.82M	4.59M	-4.2M
Change in Receivables	-3.27M	4.17M	-2.95M	976K	14.45M	-9.05M	-20.08M	-1.99M	10.31M	-18.9M
Change in Inventory	-2.78M	535K	-3.59M	-326K	2.25M	-11.98M	-17.59M	8.21M	6.31M	-5.25M
Change in Payables	-1.13M	2.28M	-1.88M	684K	-3.88M	14.44M	1.78M	-5.58M	-4.12M	16.31M
Cash from Investing+	-10.14M	-98.61M	-1.87M	-2.59M	17.41M	-92.96M	-1.57M	-3.2M	-55.25M	-27.97M
Capital Expenditures	-10.21M	-6.63M	-3.41M	-2.62M	-2.74M	-2.23M	-2.12M	-3.21M	-5.39M	-3.46M
CapEx % of Revenue	0.03%	0.02%	0.01%	0.01%	0.01%	0.01%	0%	0.01%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	68K	3.1M	1.54M	32K	20.15M	0	49K	5K	35K	50K
Cash from Financing+	-216K	46.79M	-9.49M	-11.12M	-44.4M	63.58M	5.63M	-47.15M	14.31M	-11.43M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-4.21M	-5.05M	-5.15M	-5.18M	-5.28M	-5.29M	-5.32M	-5.44M	-5.74M	-5.97M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	4.02M	2.61M	106K	0	460K	927K	-224K	2.97M	1.34M	-509K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	7.57M	14.4M	8.09M	8.87M	26.97M	25.78M	-5.99M	46.38M	38M	34.65M
FCF Margin %	0.02%	0.04%	0.02%	0.03%	0.09%	0.08%	-0.01%	0.09%	0.08%	0.06%
FCF Growth %	-0.53%	0.9%	-0.44%	0.1%	2.04%	-0.04%	-1.23%	8.75%	-0.18%	-0.09%
FCF per Share	0.30	0.55	0.31	0.34	1.02	0.94	-0.21	1.58	1.26	1.12
FCF Conversion (FCF/Net Income)	1.88x	7.01x	-0.59x	-0.70x	3.10x	4.77x	-0.26x	1.92x	1.74x	1.56x
Interest Paid	50K	529K	0	0	0	0	1.67M	3.1M	1.91M	2.83M
Taxes Paid	5.08M	2.62M	0	0	0	0	4.96M	9.56M	9.57M	5.76M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	6.35%	1.9%	-13.06%	-12.61%	7.81%	4.57%	10.78%	15.84%	13.08%	11.21%
Return on Invested Capital (ROIC)	8.79%	1.65%	-8.37%	-4.02%	6.72%	3.49%	7.11%	12.14%	10.79%	9.48%
Gross Margin	25.97%	24.71%	26.09%	22.42%	24.06%	25.02%	24%	27.56%	28.36%	24.73%
Net Margin	2.94%	0.91%	-5.71%	-4.97%	3.14%	1.86%	3.3%	5.18%	5.32%	4.25%
Debt / Equity	-	0.31x	0.33x	0.33x	0.09x	0.63x	0.61x	0.26x	0.35x	0.29x
Interest Coverage	387.67x	5.82x	-12.60x	-4.00x	14.98x	27.98x	10.77x	10.04x	16.47x	11.43x
FCF Conversion	1.88x	7.01x	-0.59x	-0.70x	3.10x	4.77x	-0.26x	1.92x	1.74x	1.56x
Revenue Growth	4.66%	2.85%	3.21%	-3.85%	-7.08%	3.29%	44.2%	9.2%	-5.5%	22.09%

Revenue by Segment

	2021	2025
Display Solutions	32.4M	325.02M
Display Solutions Growth	-	903.15%
Lighting	-	248.36M
Lighting Growth	-	-

Frequently Asked Questions

Valuation & Price

LSI Industries Inc. (LYTS) has a price-to-earnings (P/E) ratio of 25.2x. This suggests investors expect higher future growth.

Growth & Financials

LSI Industries Inc. (LYTS) reported $592.5M in revenue for fiscal year 2025. This represents a 121% increase from $268.4M in 2012.

LSI Industries Inc. (LYTS) grew revenue by 22.1% over the past year. This is strong growth.

Yes, LSI Industries Inc. (LYTS) is profitable, generating $25.0M in net income for fiscal year 2025 (4.3% net margin).

Dividend & Returns

Yes, LSI Industries Inc. (LYTS) pays a dividend with a yield of 0.97%. This makes it attractive for income-focused investors.

LSI Industries Inc. (LYTS) has a return on equity (ROE) of 11.2%. This is reasonable for most industries.

LSI Industries Inc. (LYTS) generated $23.3M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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