“The increase in interest expense is the result of the funds borrowed to acquire EMI in the fourth quarter of fiscal 2024 along with the funds borrowed to acquire CBH in the third quarter of fiscal 2025, partially offset by decreased borrowing costs.”10-K · Sep 3, 2026 ↗
LSI Industries Inc.
LYTS
Market read
LSI Industries Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 33 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.
- Inventory and accounts receivable grew faster than revenue, making working-capital intensity a current operating condition to compare.
- LSI said acquisitions increased sales but diluted operating income, so future filings should be compared for changes in that effect.
Invalidation: The isolated read changes if LYTS's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 33 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
- Inventory and accounts receivable grew faster than revenue, making working-capital intensity a current operating condition to compare.
- LSI said acquisitions increased sales but diluted operating income, so future filings should be compared for changes in that effect.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Latest annual revenue changed +20.2% year over year.
- Operating cash flow covered net income at 1.96x in the latest annual period.
- Diluted shares increased 9.3% in the latest annual period.
- Credit and interest rates has repeated adverse evidence across 4 filings.
- P/E is 59% below the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 58% below the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 11, 2026
20.04Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“Seasonality Our business in both lighting and display solutions segments is subject to some seasonality, with net sales being affected by weather and seasonal demand on construction and installation programs, particularly during the winter months, as well as…”10-K · Sep 3, 2026 ↗
“The increase in Non-GAAP adjusted net income is primarily the net result of an increase in net sales partially offset by unfavorable product mix.”10-K · Sep 3, 2026 ↗
“Gross profit as a percentage of sales improved 120 basis points as a result of pricing actions taken in response to shifts in material input costs.”10-Q · May 8, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 1.0× · EV/sales 1.3×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for LYTS. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for LYTS. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind LYTS
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
LYTS is currently a Follower in the organic co-movement group Industrial Financials. This group is discovered from market behaviour rather than assigned from an industry taxonomy. No verified filing-linked names are available yet.
This group is retained as the last observed read for LYTS; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.