LSI Industries (LYTS)
Market Price (8/20/2026): $24.04 | Market Cap: $793.8 MilSector: Information Technology | Industry: Electronic Components
LSI Industries (LYTS)
Market Price (8/20/2026): $24.04Market Cap: $793.8 MilSector: Information TechnologyIndustry: Electronic Components
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Low stock price volatilityVol 12M is 41% Megatrend and thematic driversMegatrends include Smart Buildings & Proptech, Sustainable & Green Buildings, and Experience Economy & Premiumization. Themes include IoT for Buildings, Show more. | Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.34 | Key risksLYTS key risks include [1] a high concentration of sales in the refueling and grocery markets and [2] decelerating revenue growth amid potential demand headwinds. |
| Low stock price volatilityVol 12M is 41% |
| Megatrend and thematic driversMegatrends include Smart Buildings & Proptech, Sustainable & Green Buildings, and Experience Economy & Premiumization. Themes include IoT for Buildings, Show more. |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.34 |
| Key risksLYTS key risks include [1] a high concentration of sales in the refueling and grocery markets and [2] decelerating revenue growth amid potential demand headwinds. |
Qualitative Assessment
AI Analysis | Feedback
LSI Industries (LYTS) stock has remained largely at the same level since 4/30/2026 because of the following key factors:
1. Lingering Impact of Fiscal Q3 2026 Earnings and Analyst Interpretations.
LSI Industries (whose fiscal year ends in June) reported its fiscal Q3 2026 results on April 23, 2026, just prior to the specified period. The company announced an Earnings Per Share (EPS) of $0.28, significantly surpassing the consensus forecast of $0.19 by 47.37%. Revenues also exceeded expectations, reaching $150.5 million against an estimated $136.2 million, resulting in an initial stock surge. However, one report indicated a miss, showing an EPS of $0.06 against a $0.40 consensus. This mixed or initially uncertain market reception, despite positive revisions, may have contributed to the stock consolidating rather than experiencing sustained upward momentum in the period that followed.
2. Investor Anticipation for Fiscal Q4 2026 Results.
The period since April 30, 2026, encompassed the entirety of LSI Industries' fiscal Q4 2026 (April 1 to June 30, 2026) and led directly into the investor anticipation for its Q4 earnings report, estimated to be released on August 20, 2026. This "wait-and-see" approach among investors, characteristic of pre-earnings periods where new financial data and future guidance are awaited, typically leads to a consolidation phase for a stock. The consensus EPS estimates for the upcoming fiscal Q4 2026 range from $0.24 to $0.35, indicating a degree of uncertainty around expectations that can contribute to stable price action.
Show more
LSI Industries (LYTS) stock has remained largely at the same level since 4/30/2026 because of the following key factors:
1. Lingering Impact of Fiscal Q3 2026 Earnings and Analyst Interpretations.
LSI Industries (whose fiscal year ends in June) reported its fiscal Q3 2026 results on April 23, 2026, just prior to the specified period. The company announced an Earnings Per Share (EPS) of $0.28, significantly surpassing the consensus forecast of $0.19 by 47.37%. Revenues also exceeded expectations, reaching $150.5 million against an estimated $136.2 million, resulting in an initial stock surge. However, one report indicated a miss, showing an EPS of $0.06 against a $0.40 consensus. This mixed or initially uncertain market reception, despite positive revisions, may have contributed to the stock consolidating rather than experiencing sustained upward momentum in the period that followed.
2. Investor Anticipation for Fiscal Q4 2026 Results.
The period since April 30, 2026, encompassed the entirety of LSI Industries' fiscal Q4 2026 (April 1 to June 30, 2026) and led directly into the investor anticipation for its Q4 earnings report, estimated to be released on August 20, 2026. This "wait-and-see" approach among investors, characteristic of pre-earnings periods where new financial data and future guidance are awaited, typically leads to a consolidation phase for a stock. The consensus EPS estimates for the upcoming fiscal Q4 2026 range from $0.24 to $0.35, indicating a degree of uncertainty around expectations that can contribute to stable price action.
3. Valuation Concerns Mitigating Positive Analyst Sentiment.
Despite several positive analyst actions during the period, including H.C. Wainwright and Craig-Hallum reiterating "Buy" ratings and maintaining price targets up to $30 in May and June 2026, concerns about LSI Industries' valuation likely capped significant stock appreciation. InvestingPro analysis in mid-July 2026 suggested that the company appeared overvalued relative to its fair value, noting a P/E ratio of 32.6. This perception of an elevated valuation may have acted as a ceiling, preventing the stock from breaking out significantly despite otherwise favorable analyst commentary and company-specific news.
4. Strategic Partnership Offset by Lingering Effects of Previous Capital Raise.
On May 27, 2026, LSI Industries announced a strategic partnership with Carter Thermal Industries Group to expand its refrigeration solutions, a positive company-specific development. However, the potential positive impact of this news may have been balanced by the lingering effects of a public offering of common stock that the company priced on February 26, 2026. Although the offering occurred before the specified period, the increased number of outstanding shares could have absorbed some buying pressure in the subsequent months, contributing to the stock's overall stability.
Show less
Stock Movement Drivers
Fundamental Drivers
The -0.8% change in LYTS stock from 4/30/2026 to 8/19/2026 was primarily driven by a -9.7% change in the company's Net Income Margin (%).| (LTM values as of) | 4302026 | 8192026 | Change |
|---|---|---|---|
| Stock Price ($) | 24.26 | 24.06 | -0.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 592 | 610 | 3.0% |
| Net Income Margin (%) | 4.3% | 3.9% | -9.7% |
| P/E Multiple | 29.4 | 33.3 | 13.0% |
| Shares Outstanding (Mil) | 31 | 33 | -5.6% |
| Cumulative Contribution | -0.8% |
Market Drivers
4/30/2026 to 8/19/2026| Return | Correlation | |
|---|---|---|
| LYTS | -0.8% | |
| Market (SPY) | 7.0% | 50.5% |
| Sector (XLK) | 15.1% | 44.0% |
Fundamental Drivers
The 9.3% change in LYTS stock from 1/31/2026 to 8/19/2026 was primarily driven by a 23.9% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 8192026 | Change |
|---|---|---|---|
| Stock Price ($) | 22.01 | 24.06 | 9.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 593 | 610 | 2.9% |
| Net Income Margin (%) | 4.2% | 3.9% | -7.1% |
| P/E Multiple | 26.8 | 33.3 | 23.9% |
| Shares Outstanding (Mil) | 30 | 33 | -7.8% |
| Cumulative Contribution | 9.3% |
Market Drivers
1/31/2026 to 8/19/2026| Return | Correlation | |
|---|---|---|
| LYTS | 9.3% | |
| Market (SPY) | 11.4% | 44.8% |
| Sector (XLK) | 27.8% | 37.0% |
Fundamental Drivers
The 32.7% change in LYTS stock from 7/31/2025 to 8/19/2026 was primarily driven by a 33.8% change in the company's P/E Multiple.| (LTM values as of) | 7312025 | 8192026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.13 | 24.06 | 32.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 547 | 610 | 11.4% |
| Net Income Margin (%) | 4.0% | 3.9% | -2.1% |
| P/E Multiple | 24.9 | 33.3 | 33.8% |
| Shares Outstanding (Mil) | 30 | 33 | -9.1% |
| Cumulative Contribution | 32.7% |
Market Drivers
7/31/2025 to 8/19/2026| Return | Correlation | |
|---|---|---|
| LYTS | 32.7% | |
| Market (SPY) | 22.7% | 42.2% |
| Sector (XLK) | 40.4% | 31.9% |
Fundamental Drivers
The 97.7% change in LYTS stock from 7/31/2023 to 8/19/2026 was primarily driven by a 117.6% change in the company's P/E Multiple.| (LTM values as of) | 7312023 | 8192026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.17 | 24.06 | 97.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 501 | 610 | 21.8% |
| Net Income Margin (%) | 4.5% | 3.9% | -13.0% |
| P/E Multiple | 15.3 | 33.3 | 117.6% |
| Shares Outstanding (Mil) | 28 | 33 | -14.3% |
| Cumulative Contribution | 97.7% |
Market Drivers
7/31/2023 to 8/19/2026| Return | Correlation | |
|---|---|---|
| LYTS | 97.7% | |
| Market (SPY) | 73.9% | 41.3% |
| Sector (XLK) | 109.8% | 33.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| LYTS Return | -18% | 84% | 17% | 40% | -5% | 32% | 210% |
| Peers Return | 7% | -38% | 57% | 45% | 44% | 6% | 129% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 105% |
Monthly Win Rates [3] | |||||||
| LYTS Win Rate | 25% | 42% | 58% | 58% | 58% | 50% | |
| Peers Win Rate | 44% | 31% | 50% | 58% | 61% | 54% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| LYTS Max Drawdown | -39% | -27% | -27% | -16% | -41% | -21% | |
| Peers Max Drawdown | -42% | -55% | -39% | -31% | -54% | -38% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: AYI, DAKT, OESX. See LYTS 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 8/19/2026 (YTD)
How Low Can It Go
| Event | LYTS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -29.2% | -18.8% |
| % Gain to Breakeven | 41.3% | 23.1% |
| Time to Breakeven | 116 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.2% | -6.7% |
| % Gain to Breakeven | 25.3% | 7.1% |
| Time to Breakeven | 83 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -18.6% | -24.5% |
| % Gain to Breakeven | 22.9% | 32.4% |
| Time to Breakeven | 56 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -63.3% | -33.7% |
| % Gain to Breakeven | 172.2% | 50.9% |
| Time to Breakeven | 156 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -30.4% | -19.2% |
| % Gain to Breakeven | 43.7% | 23.8% |
| Time to Breakeven | 245 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -25.3% | -3.7% |
| % Gain to Breakeven | 33.8% | 3.9% |
| Time to Breakeven | 1539 days | 6 days |
In The Past
LSI Industries's stock fell -29.2% during the 2025 US Tariff Shock. Such a loss loss requires a 41.3% 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.
| Event | LYTS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -29.2% | -18.8% |
| % Gain to Breakeven | 41.3% | 23.1% |
| Time to Breakeven | 116 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.2% | -6.7% |
| % Gain to Breakeven | 25.3% | 7.1% |
| Time to Breakeven | 83 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -63.3% | -33.7% |
| % Gain to Breakeven | 172.2% | 50.9% |
| Time to Breakeven | 156 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -30.4% | -19.2% |
| % Gain to Breakeven | 43.7% | 23.8% |
| Time to Breakeven | 245 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -25.3% | -3.7% |
| % Gain to Breakeven | 33.8% | 3.9% |
| Time to Breakeven | 1539 days | 6 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -26.9% | -17.9% |
| % Gain to Breakeven | 36.8% | 21.8% |
| Time to Breakeven | 459 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -31.5% | -15.4% |
| % Gain to Breakeven | 46.1% | 18.2% |
| Time to Breakeven | 112 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -83.3% | -53.4% |
| % Gain to Breakeven | 497.6% | 114.4% |
| Time to Breakeven | 5028 days | 1085 days |
In The Past
LSI Industries's stock fell -29.2% during the 2025 US Tariff Shock. Such a loss loss requires a 41.3% 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 LSI Industries (LYTS)
LSI Industries Inc. (LYTS) manufactures and sells non-residential lighting and retail display solutions, primarily serving markets in the United States, Canada, Mexico, and other international regions. The company operates through two distinct segments: Lighting and Display Solutions, catering to the visual and illumination needs of various commercial and industrial clients.
The Lighting segment focuses on a comprehensive range of non-residential indoor and outdoor lighting solutions. Its product offerings include various lighting fixtures, as well as sophisticated lighting control products such as sensors, photocontrols, dimmers, and Bluetooth systems. This segment also designs and manufactures electronic circuit boards and assemblies, underpinning its advanced lighting technologies.
The Display Solutions segment specializes in creating, selling, and installing visual image and display elements. This includes a diverse portfolio of products like printed and structural graphics, digital signage, menu board systems, display fixtures, and both refrigerated and non-refrigerated merchandising displays. Beyond manufacturing, LSI Industries provides extensive program management services, including installation management, site surveys, and permitting, for sectors such as petroleum/convenience, quick-service restaurants, retail and grocery stores, automotive, warehouses, and sports complexes.
```AI Analysis | Feedback
Here's a brief analogy for LSI Industries (LYTS):
- They're like a combination of 'Acuity Brands' (a leading commercial lighting company) and 'Fastsigns' (a well-known sign company), but with national rollout capabilities and custom manufacturing for businesses like fast-food restaurants and gas stations.
AI Analysis | Feedback
- Non-residential Lighting Solutions: Manufactures and sells a variety of outdoor and indoor lighting fixtures for commercial, industrial, and institutional markets.
- Lighting Control Products: Provides integrated control systems such as sensors, photocontrols, dimmers, and Bluetooth systems to enhance lighting fixture functionality.
- Electronic Circuit Boards: Designs, engineers, and manufactures electronic circuit boards, assemblies, and sub-assemblies.
- Retail Display Solutions: Produces and installs a wide array of visual image and display elements, including printed graphics, digital signage, menu boards, display fixtures, and refrigerated displays.
- Program Management and Installation Services: Offers comprehensive services for display and signage rollouts, encompassing installation management, site surveys, permitting, and content management.
AI Analysis | Feedback
AI Analysis | Feedback
AI Analysis | Feedback
James A. Clark, President and Chief Executive Officer
James A. Clark has served as President and Chief Executive Officer of LSI Industries Inc. since November 2018. Prior to joining LSI, he was President & CEO of Alliance Tire Americas, Inc. from 2014 to 2018. During his tenure, Alliance Tire Americas, Inc., a KKR portfolio company, achieved significant organic growth, which contributed to KKR's sale of Alliance Tire Group to Yokohama Rubber Company for $1.2 billion. He also served as Managing Director of Dunes Point Capital, LLC from 2010 to 2013, and held roles at Rexel Holdings USA, United Technologies Corporation, and GE Company.
James E. Galeese, Executive Vice President and Chief Financial Officer
James E. Galeese was appointed Executive Vice President and Chief Financial Officer of LSI Industries Inc. in June 2017. Previously, he served as Vice President, Chief Financial Officer, and a Director of Universal Trailer Holding Corporation from 2014 to 2017. Universal Trailer was a Corporate Partners Private Equity portfolio company. Before that, he spent 16 years with Philips Electronics NV, where his roles included CFO of the North America Consumer Electronics business and the North America Lighting business. He also held financial leadership positions at Square D Company / Schneider Electric.
Thomas A. Caneris, Executive Vice President of Human Resources and General Counsel
Thomas A. Caneris joined LSI Industries in August 2019. He is responsible for the company's Human Resources and Legal functions. Mr. Caneris brings over 30 years of experience as a practicing attorney and senior advisor in both public and private company settings, and previously served as Senior Vice President at PharMerica Corporation.
Michael A. Prachar, Chief Marketing Officer
Michael A. Prachar joined LSI Industries in March 2019 as Vice President, Lighting Products, and was named Chief Marketing Officer in December 2019. He oversees Commercial Marketing, Product Management, Technical Design Services, and Communications and Public Relations functions. Prior to LSI, he was Senior Director, Global Offering Management for Honeywell, and held marketing leadership roles with Milacron, Rexnord Industries, Emerson, and Ingersoll Rand.
Ronald S. Stowell, Chief Financial Officer Emeritus and Treasurer
Ronald S. Stowell transitioned to Chief Financial Officer Emeritus and Treasurer in June 2017, after serving as LSI Industries' Chief Financial Officer for nearly twenty-five years. He joined LSI Industries in 1992 as VP, CFO & Treasurer. Prior to his time at LSI, he was a Corporate Controller at Essef Corporation from 1985 to 1992.
AI Analysis | Feedback
Key Risks to LSI Industries (LYTS)
-
Sensitivity to Economic Cycles and Capital Expenditure Trends: LSI Industries' business is heavily reliant on capital expenditures by its customers in non-residential sectors such as petroleum/convenience, quick-service restaurants, retail, and commercial facilities. Demand for new lighting installations, display solutions, and renovation projects is discretionary and highly sensitive to overall economic conditions, business confidence, and the availability of capital for investment. An economic downturn, recession, or reduced capital spending by customers could significantly decrease demand for LSI's products and services, negatively impacting its revenue and profitability.
-
Rapid Technological Advancements and Product Obsolescence: Both the non-residential lighting and display solutions markets are subject to continuous and rapid technological innovation. In the lighting segment, this includes advancements in LED efficiency, smart lighting controls, and integrated systems. In display solutions, technology evolves in areas such as digital signage resolution, interactivity, and material science. Failure by LSI Industries to keep pace with these technological changes, invest sufficiently in research and development, or adapt its product offerings to evolving industry standards and customer preferences could lead to its products becoming obsolete or less competitive, thereby affecting market share and financial performance.
AI Analysis | Feedback
AI Analysis | Feedback
AI Analysis | Feedback
LSI Industries (LYTS) is poised for future revenue growth over the next 2-3 years, driven by several key factors across its Lighting and Display Solutions segments, as well as strategic acquisitions.
One significant driver is the **continued growth within its Lighting segment**, fueled by national accounts and new product introductions. The Lighting segment has demonstrated strong performance, with a 15% increase in Q2 2026, marking its third consecutive quarter of double-digit growth. This trend is further supported by an 18% increase in sales during Q1 2026 compared to the prior year.
Another key growth driver stems from **increased demand and a strengthening backlog in the Display Solutions segment**, particularly within the refueling/convenience store and grocery verticals. In Q2 2026, Display Solutions orders experienced year-over-year growth, resulting in a book-to-bill ratio of 1.2 and building a stronger backlog for the subsequent quarter. The company has also noted meaningful traction in the casual dining and premium food services markets, with substantial project values per site. Furthermore, strengthened demand in international markets such as Mexico and island regions is expected to persist into 2027.
**Strategic acquisitions and their successful integration** are also anticipated to drive considerable revenue growth. The acquisition of Canada's Best Holdings in March 2025 delivered an exceptional Q1 2026, opening up opportunities within the expanding Canadian market across various verticals, including banking and financial institutions. More recently, LSI Industries announced the transformational acquisition of Royston Group in February 2026. This acquisition, valued at $325 million, is expected to accelerate LSI in achieving its fiscal 2028 revenue and margin targets two years ahead of schedule, projecting approximately $864 million in pro forma revenue and $95 million in Adjusted EBITDA for the combined entity.
Lastly, LSI Industries' **vertical market approach and a robust pipeline of new construction and remodel opportunities** contribute to its growth prospects. The company's focus on priority verticals has led to outperformance compared to broader non-residential construction indices, indicating a larger accessible market. This strategic focus, coupled with a healthy pipeline for new construction and remodel projects, positions LSI for sustained expansion.
AI Analysis | Feedback
Share Repurchases
- LSI Industries announced a $15 million share repurchase program.
Share Issuance
- In February 2026, LSI Industries priced a public offering of 4,600,000 shares of common stock at $19.75 per share, with underwriters exercising an option for an additional 690,000 shares.
- The net proceeds from this offering, approximately $98.1 million, are intended to fund a portion of the Royston Group acquisition, repay related borrowings, and for general working capital.
- As part of the $325 million acquisition of Royston Group, $5 million of the purchase price is to be paid in LSI common stock.
Outbound Investments
- In May 2021, LSI Industries acquired JSI Store Fixtures for $90 million in an all-cash transaction, expanding its product offerings in the grocery, convenience, and specialty store verticals.
- LSI Industries acquired EMI Industries for $50 million in cash in April 2024, broadening its retail fixture and food equipment capabilities.
- In March 2025, LSI Industries acquired Canada's Best Holdings (Canada's Best Store Fixtures) for an all-cash purchase price of $24.0 million, with a potential $7.0 million performance earnout, expanding its turnkey retail fixtures and custom display solutions in Canada.
- LSI Industries entered into a definitive agreement in February 2026 to acquire the privately held Royston Group for $325 million, comprising $320 million in cash and $5 million in LSI common stock, expected to close in the third quarter of fiscal year 2026.
Capital Expenditures
- Capital expenditures were approximately $2.0 million in both fiscal years 2021 and 2022.
- For fiscal year 2025, capital expenditures were $3.465 million, and for fiscal year 2024, they were $5.388 million.
- LSI Industries prioritizes capital allocation toward organic expansion, acquisition-related investments, and debt reduction, with a focus on innovation, operational excellence, and employee development.
Peer Outperformance in Electronic Components
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| LYTS | LSI Industries | 7.3% | 33.3x | 27.9% | 55.2% | 232.6% | — |
| BELFA | Bel Fuse | 4.2% | 55.9x | 104.5% | 370.4% | 1394.5% | +1,162pp |
| GLW | Corning | 9.0% | 69.2x | 138.9% | 408.3% | 331.9% | +99pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Electronic Manufacturing Services | 9 | 66.2% | 217.0% | 336.9% | FLEX 770% · TTMI 729% · JBL 450% |
| Semiconductor Materials & Equipment | 27 | 157.9% | 81.2% | 129.3% | AEHR 1838% · AXTI 753% · KLAC 514% |
| Technology Distributors | 9 | 21.3% | 59.6% | 74.1% | CLMB 337% · AVT 153% · SNX 114% |
| Electronic Components ← | 26 | 63.1% | 63.2% | 60.4% | CLS 3340% · BELFA 1394% · LPTH 616% |
| Communications Equipment | 35 | 39.6% | 86.5% | 49.3% | AAOI 1746% · LITE 878% · FEIM 710% |
| Semiconductors | 54 | 32.0% | 45.1% | 35.0% | POET 1972% · MU 1268% · NVDA 949% |
| Technology Hardware, Storage & Peripherals | 22 | 35.0% | 78.8% | 27.2% | STX 981% · WDC 934% · SMCI 926% |
| Internet Services & Infrastructure | 6 | 13.7% | 38.3% | 19.3% | DOCN 119% · GDDY 37% · VRSN 30% |
| Electronic Equipment & Instruments | 27 | -1.3% | 14.3% | -2.7% | PI 229% · SOTK 129% · NSSC 126% |
| IT Consulting & Other Services | 28 | -24.2% | -6.5% | -18.6% | CHRN 623584% · APLD 2082% · TSSI 731% |
| Application Software | 123 | -19.0% | -6.8% | -42.4% | VIDA 125456% · INLX 5620% · PLTR 630% |
| Systems Software | 69 | -9.0% | 21.1% | -49.1% | QNC 958% · PANW 487% · PAYS 443% |
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 21.78 |
| Mkt Cap | 0.9 |
| Rev LTM | 706 |
| Op Inc LTM | 33 |
| FCF LTM | 50 |
| FCF 3Y Avg | 51 |
| CFO LTM | 60 |
| CFO 3Y Avg | 62 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 13.7% |
| Rev Chg 3Y Avg | 6.0% |
| Rev Chg Q | 17.6% |
| QoQ Delta Rev Chg LTM | 3.6% |
| Op Inc Chg LTM | 14.2% |
| Op Inc Chg 3Y Avg | 34.8% |
| Op Mgn LTM | 4.8% |
| Op Mgn 3Y Avg | 6.8% |
| QoQ Delta Op Mgn LTM | 0.5% |
| CFO/Rev LTM | 8.3% |
| CFO/Rev 3Y Avg | 9.1% |
| FCF/Rev LTM | 7.0% |
| FCF/Rev 3Y Avg | 7.6% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.9 |
| P/S | 1.2 |
| P/Op Inc | 27.1 |
| P/EBIT | 58.7 |
| P/E | 33.8 |
| P/CFO | 17.8 |
| Total Yield | 3.3% |
| Dividend Yield | 0.1% |
| FCF Yield 3Y Avg | 6.4% |
| D/E | 0.1 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 4.8% |
| 3M Rtn | 15.4% |
| 6M Rtn | 10.1% |
| 12M Rtn | 23.6% |
| 3Y Rtn | 88.8% |
| 1M Excs Rtn | 1.4% |
| 3M Excs Rtn | 12.3% |
| 6M Excs Rtn | -2.0% |
| 12M Excs Rtn | 3.0% |
| 3Y Excs Rtn | 31.6% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Display | 326 | 207 | 225 | 222 | 127 |
| Lighting | 268 | 262 | 272 | 233 | 189 |
| Inter-segment sales | -21 | ||||
| Total | 573 | 470 | 497 | 455 | 316 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Lighting | 30 | 33 | 32 | 21 | 13 |
| Display | 26 | 20 | 25 | 18 | 10 |
| Corporate and Eliminations | -21 | -18 | -20 | -17 | -15 |
| Total | 36 | 36 | 37 | 21 | 8 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Display | 253 | 208 | 145 | 152 | 147 |
| Lighting | 133 | 131 | 143 | 152 | 132 |
| Corporate and Eliminations | 10 | 10 | 8 | 6 | 7 |
| Total | 396 | 349 | 296 | 311 | 287 |
Price Behavior
| Market Price | $24.06 | |
| Market Cap ($ Bil) | 0.8 | |
| First Trading Date | 03/26/1990 | |
| Distance from 52W High | -10.2% | |
| 50 Days | 200 Days | |
| DMA Price | $24.74 | $21.66 |
| DMA Trend | indeterminate | indeterminate |
| Distance from DMA | -2.8% | 11.1% |
| 3M | 1YR | |
| Volatility | 35.1% | 41.4% |
| Downside Capture | 144.31 | 130.90 |
| Upside Capture | 146.00 | 130.49 |
| Correlation (SPY) | 48.0% | 41.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.63 | 1.11 | 1.22 | 1.13 | 1.33 | 1.11 |
| Up Beta | 0.70 | 0.18 | 0.60 | 0.75 | 1.41 | 0.86 |
| Down Beta | 1.66 | 0.89 | 1.25 | 1.50 | 1.27 | 1.21 |
| Up Capture | 92% | 145% | 121% | 116% | 158% | 187% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 10 | 20 | 30 | 60 | 124 | 363 |
| Down Capture | 274% | 146% | 153% | 116% | 119% | 105% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 12 | 23 | 33 | 66 | 127 | 386 |
[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 LYTS | |
|---|---|---|---|---|
| LYTS | 28.4% | 41.3% | 0.70 | - |
| Sector ETF (XLK) | 38.7% | 26.1% | 1.22 | 31.0% |
| Equity (SPY) | 20.7% | 12.8% | 1.19 | 41.2% |
| Gold (GLD) | 35.0% | 28.8% | 1.04 | 10.0% |
| Commodities (DBC) | 41.4% | 20.2% | 1.60 | -13.9% |
| Real Estate (VNQ) | 15.3% | 13.9% | 0.78 | 22.7% |
| Bitcoin (BTCUSD) | -44.7% | 42.7% | -1.27 | 20.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LYTS | |
|---|---|---|---|---|
| LYTS | 30.5% | 43.7% | 0.74 | - |
| Sector ETF (XLK) | 20.0% | 25.9% | 0.69 | 27.1% |
| Equity (SPY) | 13.1% | 17.2% | 0.59 | 31.6% |
| Gold (GLD) | 20.4% | 18.6% | 0.89 | 2.5% |
| Commodities (DBC) | 9.8% | 19.6% | 0.39 | 4.1% |
| Real Estate (VNQ) | 2.4% | 18.9% | 0.03 | 22.4% |
| Bitcoin (BTCUSD) | 7.2% | 52.6% | 0.32 | 11.5% |
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 LYTS | |
|---|---|---|---|---|
| LYTS | 11.5% | 48.1% | 0.41 | - |
| Sector ETF (XLK) | 24.1% | 24.9% | 0.88 | 29.0% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 35.6% |
| Gold (GLD) | 12.5% | 16.2% | 0.63 | 4.3% |
| Commodities (DBC) | 7.9% | 18.1% | 0.35 | 12.6% |
| Real Estate (VNQ) | 4.9% | 20.7% | 0.20 | 30.8% |
| Bitcoin (BTCUSD) | 60.0% | 66.0% | 1.00 | 8.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/23/2026 | 9.5% | 10.7% | 9.3% |
| 1/22/2026 | 14.1% | 5.6% | 8.0% |
| 11/6/2025 | -10.2% | -16.9% | -17.8% |
| 8/21/2025 | 5.7% | 17.2% | 21.4% |
| 4/24/2025 | -7.0% | -4.6% | -0.6% |
| 1/23/2025 | 25.0% | 7.7% | -2.4% |
| 11/7/2024 | 5.3% | 12.9% | 11.1% |
| 8/15/2024 | 1.0% | -0.9% | 4.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 21 | 16 | 18 |
| # Negative | 3 | 8 | 6 |
| Median Positive | 8.0% | 11.8% | 9.2% |
| Median Negative | -7.0% | -3.8% | -5.5% |
| Max Positive | 25.0% | 28.2% | 55.5% |
| Max Negative | -10.2% | -16.9% | -17.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/23/2026 | 9.5% | 10.7% | 9.3% |
| 1/22/2026 | 14.1% | 5.6% | 8.0% |
| 11/6/2025 | -10.2% | -16.9% | -17.8% |
| 8/21/2025 | 5.7% | 17.2% | 21.4% |
| 4/24/2025 | -7.0% | -4.6% | -0.6% |
| 1/23/2025 | 25.0% | 7.7% | -2.4% |
| 11/7/2024 | 5.3% | 12.9% | 11.1% |
| 8/15/2024 | 1.0% | -0.9% | 4.0% |
| 4/25/2024 | 4.0% | 0.9% | 6.5% |
| 1/25/2024 | 5.5% | -0.7% | 5.2% |
| 11/2/2023 | 5.4% | -3.6% | 6.1% |
| 8/17/2023 | 19.7% | 22.6% | 15.3% |
| 4/27/2023 | 2.5% | 1.0% | -2.0% |
| 1/26/2023 | 14.8% | 4.5% | 12.0% |
| 11/2/2022 | 14.2% | 27.6% | 55.5% |
| 8/18/2022 | 8.0% | 17.2% | 14.5% |
| 4/28/2022 | 19.5% | 28.2% | 13.2% |
| 1/27/2022 | 17.8% | 23.3% | 9.1% |
| 11/3/2021 | -3.4% | -3.9% | -15.4% |
| 8/19/2021 | 8.0% | 12.3% | 5.7% |
| 4/22/2021 | 2.2% | -2.4% | -8.5% |
| 1/21/2021 | 9.2% | 11.3% | 8.9% |
| 10/29/2020 | 0.1% | -7.4% | 11.7% |
| 8/20/2020 | 2.6% | 5.3% | 8.7% |
| SUMMARY STATS | |||
| # Positive | 21 | 16 | 18 |
| # Negative | 3 | 8 | 6 |
| Median Positive | 8.0% | 11.8% | 9.2% |
| Median Negative | -7.0% | -3.8% | -5.5% |
| Max Positive | 25.0% | 28.2% | 55.5% |
| Max Negative | -10.2% | -16.9% | -17.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/09/2026 | 10-Q |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 09/11/2025 | 10-K |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/07/2025 | 10-Q |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 09/11/2024 | 10-K |
| 03/31/2024 | 05/06/2024 | 10-Q |
| 12/31/2023 | 02/06/2024 | 10-Q |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 09/08/2023 | 10-K |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/07/2023 | 10-Q |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 09/09/2022 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/09/2026 | 10-Q |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 09/11/2025 | 10-K |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/07/2025 | 10-Q |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 09/11/2024 | 10-K |
| 03/31/2024 | 05/06/2024 | 10-Q |
| 12/31/2023 | 02/06/2024 | 10-Q |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 09/08/2023 | 10-K |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/07/2023 | 10-Q |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 09/09/2022 | 10-K |
| 03/31/2022 | 05/06/2022 | 10-Q |
| 12/31/2021 | 02/04/2022 | 10-Q |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 09/10/2021 | 10-K |
| 03/31/2021 | 04/28/2021 | 10-Q |
| 12/31/2020 | 01/29/2021 | 10-Q |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 09/11/2020 | 10-K |
| 03/31/2020 | 05/05/2020 | 10-Q |
| 12/31/2019 | 02/06/2020 | 10-Q |
| 09/30/2019 | 11/07/2019 | 10-Q |
| 06/30/2019 | 09/06/2019 | 10-K |
Recent Forward Guidance
Updated 7/27/2026Latest: Q3 2026 Earnings Reported 4/23/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 Dividends | 0.05 | ||||||
| 2026 Dividends | 0.2 | ||||||
Prior: Q2 2026 Earnings Reported 1/22/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Lighting Segment Revenue Growth | |||||||
| 2026 Display Solutions Segment Growth | |||||||
Q1 2026 Earnings Reported 11/6/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Cash Flow | |||||||
| Q2 2026 Grocery Project Volumes | |||||||
| 2026 Grocery Vertical Sales Growth | |||||||
Insider Activity
Updated 7/13/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Ogara, Wilfred T | Direct | Sell | 6012026 | 24.09 | 10,369 | 249,789 | 2,497,796 | Form | |
| 2 | Ogara, Wilfred T | Direct | Sell | 6012026 | 24.09 | 10,369 | 249,789 | 2,497,796 | Form | |
| 3 | Galeese, James E | Executive VP; CFO | Direct | Sell | 6012026 | 24.29 | 136,578 | 3,317,480 | 4,209,166 | Form |
| 4 | Caneris, Thomas A | EVP, HR and General Counsel | Direct | Sell | 6012026 | 24.29 | 109,226 | 2,653,100 | 1,573,749 | Form |
| 5 | Clark, James Anthony | CEO and President | Direct | Sell | 9112025 | 22.66 | 29,891 | 677,330 | 9,546,953 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Ogara, Wilfred T | Direct | Sell | 6012026 | 24.09 | 10,369 | 249,789 | 2,497,796 | Form | |
| 2 | Ogara, Wilfred T | Direct | Sell | 6012026 | 24.09 | 10,369 | 249,789 | 2,497,796 | Form | |
| 3 | Galeese, James E | Executive VP; CFO | Direct | Sell | 6012026 | 24.29 | 136,578 | 3,317,480 | 4,209,166 | Form |
| 4 | Caneris, Thomas A | EVP, HR and General Counsel | Direct | Sell | 6012026 | 24.29 | 109,226 | 2,653,100 | 1,573,749 | Form |
| 5 | Clark, James Anthony | CEO and President | Direct | Sell | 9112025 | 22.66 | 29,891 | 677,330 | 9,546,953 | Form |
| 6 | Clark, James Anthony | CEO and President | Direct | Sell | 9112025 | 22.75 | 259,176 | 5,896,254 | 9,584,871 | Form |
| 7 | Clark, James Anthony | CEO and President | Direct | Sell | 9112025 | 22.86 | 210,933 | 4,821,928 | 9,631,215 | Form |
| 8 | Galeese, James E | Executive VP; CFO | Direct | Sell | 9102025 | 23.29 | 54,575 | 1,271,052 | 4,035,878 | Form |
| 9 | Caneris, Thomas A | Exec. VP, HR & General Counsel | Direct | Sell | 8292025 | 23.08 | 7,544 | 174,116 | 2,631,489 | Form |
| 10 | Galeese, James E | Executive VP; CFO | Direct | Sell | 8292025 | 23.08 | 6,064 | 139,957 | 3,999,487 | Form |
| 11 | Clark, James Anthony | CEO and President | Direct | Sell | 8292025 | 23.08 | 26,597 | 613,859 | 9,723,904 | Form |
| 12 | Caneris, Thomas A | Exec. VP, HR & General Counsel | Direct | Sell | 8272025 | 22.95 | 6,449 | 148,005 | 2,796,779 | Form |
| 13 | Galeese, James E | Executive VP; CFO | Direct | Sell | 8272025 | 22.95 | 6,268 | 143,851 | 4,116,128 | Form |
| 14 | Clark, James Anthony | CEO and President | Direct | Sell | 8272025 | 22.95 | 24,020 | 551,259 | 10,279,534 | Form |
| 15 | Caneris, Thomas A | Exec. VP, HR & General Counsel | Direct | Sell | 8272025 | 23.01 | 6,239 | 143,559 | 2,952,620 | Form |
| 16 | Galeese, James E | Executive VP; CFO | Direct | Sell | 8272025 | 23.01 | 6,013 | 138,359 | 4,271,116 | Form |
| 17 | Clark, James Anthony | CEO and President | Direct | Sell | 8272025 | 23.01 | 23,109 | 531,738 | 10,859,109 | Form |
Investor Activity (13F)
Updated Aug 20, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
LSI Industries — Investor Video Playlist
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Electronic Components Resources |
| Electronic Products |
| DigiKey Insights |
| Mouser Insights |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.