Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| LSI Industries Inc.LYTS · consumer durables | |
|---|---|
| Grade |  Cmiddle fifth of 460 graded peers; percentile 51.4, sampling error 2.3 points; lower is stronger |
| Rank | 237 of 460 |
| Profitability | C/Dpercentile 61.1 |
| Solvency | Cpercentile 48.8 |
| Growth and financing | Bpercentile 37.7 |
| Reliability | 0.91 AUCfailure model, filers with $591M to $2.67B assets; 95% interval 0.88 to 0.94; 160 events, 2020 to 2025 |
| Peer failure rate | 1.01% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $591M to $2.67B assetstotal assets $829.9M[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none activenot computable: distress |
| Inputs computable | 12 of 14 |
| Graded from | filings received through Sep 3, 202636 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $20.452026-10-08; market equity $762.0M; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Sep 3, 2026; the document on sec.gov.
LSI Industries Inc. (LSI) is a leading producer of non-residential lighting and retail display solutions. Non-residential lighting consists of American-made fixtures and services for both indoor and outdoor applications satisfying the specific performance requirements of our customers. Retail display solutions consist of multiple custom products and services which enhance our customer’s brand image and improve the consumer shopping experience.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 61.1 | |||||||
| Gross profitability | 20.9% | [1,3] | 34.4% | 68.2 | 476 | 2026-06-30 | |
| Return on invested capital | 6.3% | [4-12] | 8.9% | 59.9 | 163 | 2026-06-30 | |
| Accruals ratio | (3.5%) | [1,13-15] | (5.1%) | 67.0 | 525 | 2026-06-30 | |
| Gross margin stability, five years | 1.7 pts | [2-3,16-23] | 1.7 pts | 49.5 | 407 | 2026-06-30 | |
| Solvency, sleeve percentile 48.8 | |||||||
| Twelve-month failure probability | not computable | 0.04% | |||||
| liabilities and a nearby cover-page share count are required at 2026-06-30 | |||||||
| Altman Z double-prime | not computable | 2.11 | |||||
| one or more required annual facts are missing | |||||||
| Net debt to EBITDA | 4.40x | [4,7,9,24] | 2.11x | 81.2 | 187 | 2026-06-30 | |
| Interest coverage | 6.48x | [4,25] | 2.57x | 29.9 | 128 | 2026-06-30 | |
| Current ratio | 1.97x | [26-27] | 1.55x | 35.2 | 541 | 2026-06-30 | |
| Growth and financing, sleeve percentile 37.7 | |||||||
| Revenue growth, three-year compound | 11.5% | [2,17,19,21] | 1.4% | 12.3 | 482 | 2026-06-30 | |
| Free cash flow growth, three-year compound | (5.6%) | [14,28-34] | 8.3% | 73.5 | 250 | 2026-06-30 | |
| Reinvestment rate | 136.9% | [4-6,24,26-28,35-36] | 12.0% | 10.6 | 265 | 2026-06-30 | |
| Asset growth, three years | 41.0% | [1,15,37-38] | 2.0% | 2.3 | 487 | 2026-06-30 | |
| Net share issuance, one year | 22.1% | [39-40] | (0.3%) | 89.8 | 382 | 2026-08-28 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite -0.017; sampling error 2.3 percentile points on 460 peers.
Among 460 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 232 | Titan Machinery Inc. (TITN) Titan Machinery Inc. (TITN) Cmiddle fifth; percentile 50.6 Nasdaq · Retail-Retail Stores, NEC market equity $556.8M; last close $23.63 Warnings: fortress balance sheet; 7 of 14 inputs | 50.6 | C | fortress balance sheet |
| 233 | Bath & Body Works, Inc. (BBWI) Bath & Body Works, Inc. (BBWI) Cmiddle fifth; percentile 51.0 NYSE · Retail-Retail Stores, NEC market equity $3.6B; last close $17.71 No active warnings; 11 of 14 inputs | 51.0 | C | |
| 234 | Patrick Industries Inc. (PATK) Patrick Industries Inc. (PATK) Cmiddle fifth; percentile 51.2 Nasdaq · Motor Vehicle Parts & Accessories market equity $2.1B; last close $65.05 No active warnings; 12 of 14 inputs | 51.2 | C | |
| 235 | Lamb Weston Holdings, Inc. (LW) Lamb Weston Holdings, Inc. (LW) Cmiddle fifth; percentile 51.2 NYSE · Canned, Frozen & Preservd Fruit, Veg & Food Specialties market equity $6.8B; last close $49.48 No active warnings; 11 of 14 inputs | 51.2 | C | |
| 236 | Mckesson Corp. (MCK) Mckesson Corp. (MCK) Cmiddle fifth; percentile 51.4 NYSE · Wholesale-Drugs, Proprietaries & Druggists' Sundries market equity $108.5B; last close $931.07 No active warnings; 10 of 14 inputs | 51.4 | C | |
| 237 | LSI Industries Inc. (LYTS) LSI Industries Inc. (LYTS) Cmiddle fifth; percentile 51.4 Nasdaq · Electric Lighting & Wiring Equipment market equity $761.6M; last close $20.45 No active warnings; 12 of 14 inputs | 51.4 | C | |
| 238 | Darden Restaurants Inc. (DRI) Darden Restaurants Inc. (DRI) Cmiddle fifth; percentile 51.8 NYSE · Retail-Eating Places market equity $22.7B; last close $200.56 No active warnings; 12 of 14 inputs | 51.8 | C | |
| 239 | J.Jill, Inc. (JILL) J.Jill, Inc. (JILL) Cmiddle fifth; percentile 52.0 NYSE · Women's, Misses': and Juniors Outerwear market equity $363.7M; last close $24.40 No active warnings; 10 of 14 inputs | 52.0 | C | |
| 240 | Hudson Technologies Inc. (HDSN) Hudson Technologies Inc. (HDSN) Cmiddle fifth; percentile 52.1 Nasdaq · Wholesale-Machinery, Equipment & Supplies market equity $217.6M; last close $5.16 No active warnings; 9 of 14 inputs | 52.1 | C | |
| 241 | Penske Automotive Group, Inc. (PAG) Penske Automotive Group, Inc. (PAG) Cmiddle fifth; percentile 52.5 NYSE · Retail-Auto Dealers & Gasoline Stations market equity $13.0B; last close $198.11 No active warnings; 12 of 14 inputs | 52.5 | C | |
| 242 | Corteva, Inc. (CTVA) Corteva, Inc. (CTVA) Cmiddle fifth; percentile 52.8 NYSE · Agricultural Production-Crops market equity $9.2B; last close $13.74 Warnings: fortress balance sheet; 8 of 14 inputs | 52.8 | C | fortress balance sheet |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | C | 50.6 | 2204 |
| sector peers, equal sleeves (the grade) | C | 51.4 | 460 |
| same exchange, equal sleeves | C | 52.6 | 1219 |
| sector peers, equal inputs | C | 46.8 | 460 |
Each letter is one fifth of the 460 graded peers, about 92 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | (16.4%) | (0.2%) | 31 | hotter than 31 of 100 peers |
| Distance from 52-week high | (23.7%) | (25.6%) | 54 | closer to its high than 54 of 100 peers |
| EBIT to enterprise value | 3.8% | 5.0% | 40 | pricier than 60 of 100 peers |
| Free cash flow yield | 5.1% | 4.6% | 53 | pricier than 47 of 100 peers |
| Book value to price | 0.47 | 0.45 | 52 | pricier than 48 of 100 peers |
| Sales to price | 0.91 | 1.49 | 34 | pricier than 66 of 100 peers |
| Composite equity issuance, five years | 26.4% | (16.0%) | 89 | more equity-funded than 89 of 100 peers |
| Relative strength against the sector, log excess return | (0.16) | (0.01) | 35 | ahead of 35 of 100 peers |
Inputs: market equity $761.6M; EBIT $38.4M; free cash flow $39.0M; book equity $360.7M; sales $689.4M; debt $255.9M; cash $14.2M[39].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: 5 of 9, period end 2026-06-30 | ||
|---|---|---|
| Return on assets above zero | 5.7% | ✓ pass[13,15] |
| Operating cash flow above zero | $44.1M | ✓ pass[14] |
| Return on assets improved | (1.3 pts) | ✗ fail[13,15,37,41] |
| Operating cash flow exceeds net income | $21.6M | ✓ pass[13-14] |
| Long-term leverage fell | 28.0 pts | ✗ fail[1,15,37,42-43] |
| Current ratio improved | (2.1 pts) | ✗ fail[26-27,35-36] |
| No new shares issued | 22.1% | ✗ fail[39-40] |
| Gross margin improved | 0.4 pts | ✓ pass[2-3,16-17] |
| Asset turnover improved | 9.5 pts | ✓ pass[2,15,17,37] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $14.2M[9] |
| Operating cash flow, four quarters | $44.1M[9,14,44-46] |
| Months of runway | not finite |
| trailing operating cash flow is nonnegative, so runway is not finite | |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 36 |
| 10-K received Sep 3, 2026 | |
| Median daily dollar volume | $6.8M |
| 63 sessions | |
| Days since newest grade input | 36 |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $829.9M | 2026-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $689.4M | 2026-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 3 | gross profit | us-gaap:GrossProfit | $173.4M | 2026-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 4 | operating income | us-gaap:OperatingIncomeLoss | $38.4M | 2026-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 5 | pretax income | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | $31.5M | 2026-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 6 | income tax | us-gaap:IncomeTaxExpenseBenefit | $8.9M | 2026-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 7 | total debt | us-gaap:LongTermDebt | $255.9M | 2026-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 8 | book equity | us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest | $360.7M | 2026-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 9 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $14.2M | 2026-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 10 | total debt | us-gaap:LongTermDebt | $48.6M | 2025-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 11 | book equity | us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest | $230.7M | 2025-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 12 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $3.5M | 2025-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 13 | net income | us-gaap:NetIncomeLoss | $22.6M | 2026-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 14 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $44.1M | 2026-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 15 | assets | us-gaap:Assets | $396.4M | 2025-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 16 | gross profit | us-gaap:GrossProfit | $141.8M | 2025-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 17 | revenue | us-gaap:Revenues | $573.4M | 2025-06-30 | 2025-09-11 | 10-K | filing · viewer · series |
| 18 | gross profit | us-gaap:GrossProfit | $133.2M | 2024-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 19 | revenue | us-gaap:Revenues | $469.6M | 2024-06-30 | 2025-09-11 | 10-K | filing · viewer · series |
| 20 | gross profit | us-gaap:GrossProfit | $136.9M | 2023-06-30 | 2024-09-11 | 10-K | filing · viewer · series |
| 21 | revenue | us-gaap:Revenues | $497.0M | 2023-06-30 | 2024-09-11 | 10-K | filing · viewer · series |
| 22 | gross profit | us-gaap:GrossProfit | $109.2M | 2022-06-30 | 2023-09-08 | 10-K | filing · viewer · series |
| 23 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $455.1M | 2022-06-30 | 2023-09-08 | 10-K | filing · viewer · series |
| 24 | depreciation amortization | us-gaap:DepreciationDepletionAndAmortization | $16.6M | 2026-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 25 | interest expense | us-gaap:InterestExpense | $5.9M | 2026-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 26 | current assets | us-gaap:AssetsCurrent | $295.9M | 2026-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 27 | current liabilities | us-gaap:LiabilitiesCurrent | $149.9M | 2026-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 28 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $5.1M | 2026-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 29 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $38.1M | 2025-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 30 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $3.5M | 2025-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 31 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $43.4M | 2024-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 32 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $5.4M | 2024-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 33 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $49.6M | 2023-06-30 | 2024-09-11 | 10-K | filing · viewer · series |
| 34 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $3.2M | 2023-06-30 | 2024-09-11 | 10-K | filing · viewer · series |
| 35 | current assets | us-gaap:AssetsCurrent | $194.2M | 2025-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 36 | current liabilities | us-gaap:LiabilitiesCurrent | $97.3M | 2025-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 37 | assets | us-gaap:Assets | $348.8M | 2024-06-30 | 2025-09-11 | 10-K | filing · viewer · series |
| 38 | assets | us-gaap:Assets | $296.1M | 2023-06-30 | 2024-09-11 | 10-K | filing · viewer · series |
| 39 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 37,261,336 | 2026-08-28 | 2026-09-03 | 10-K | filing · viewer · series |
| 40 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 30,512,222 | 2025-08-29 | 2025-09-11 | 10-K | filing · viewer · series |
| 41 | net income | us-gaap:NetIncomeLoss | $24.4M | 2025-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 42 | long term debt | us-gaap:LongTermDebtNoncurrent | $245.9M | 2026-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 43 | long term debt | us-gaap:LongTermDebtNoncurrent | $45.0M | 2025-06-30 | 2026-09-03 | 10-K | filing · viewer · series |
| 44 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $32.6M | 2026-03-31 | 2026-05-08 | 10-Q | filing · viewer · series |
| 45 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $25.7M | 2025-12-31 | 2026-02-09 | 10-Q | filing · viewer · series |
| 46 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $676,000 | 2025-09-30 | 2025-11-07 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 51.4 is 8.6 points from the nearest band edge; sampling error is 2.3 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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