Latest Ratios: P/E Ratio 31.5x · EV/EBITDA 18.0x · ROE 11.2%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $807M | $524M | $435M | $368M | $173M | $220M | $171M | $95M | $138M | $235M | $283M |
| Enterprise Value | $870M | $588M | $503M | $412M | $261M | $300M | $179M | $134M | $180M | $282M | $249M |
| P/E Ratio → | 31.53 | 21.53 | 17.43 | 14.27 | 11.43 | 38.14 | 17.97 | — | — | 75.42 | 29.92 |
| P/S Ratio | 1.41 | 0.91 | 0.93 | 0.74 | 0.38 | 0.70 | 0.56 | 0.29 | 0.40 | 0.71 | 0.88 |
| P/B Ratio | 3.33 | 2.27 | 2.13 | 2.07 | 1.17 | 1.68 | 1.36 | 0.79 | 0.99 | 1.47 | 1.82 |
| P/FCF | 23.28 | 15.13 | 11.45 | 7.94 | — | 8.53 | 6.35 | 10.74 | 17.07 | 16.33 | 37.40 |
| P/OCF | 21.16 | 13.76 | 10.03 | 7.43 | — | 7.85 | 5.76 | 8.29 | 12.01 | 11.18 | 15.93 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.02 | 1.07 | 0.83 | 0.57 | 0.95 | 0.59 | 0.41 | 0.53 | 0.85 | 0.77 |
| EV / EBITDA | 17.99 | 12.16 | 11.05 | 8.83 | 8.33 | 18.57 | 8.24 | 121.04 | — | 23.74 | 12.09 |
| EV / EBIT | 24.32 | 16.25 | 14.27 | 11.14 | 12.39 | 36.55 | 14.26 | — | — | 76.18 | 17.77 |
| EV / FCF | — | 16.96 | 13.24 | 8.89 | — | 11.63 | 6.64 | 15.09 | 22.28 | 19.57 | 32.94 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 24.7% | 24.7% | 28.4% | 27.6% | 24.0% | 25.0% | 24.1% | 22.4% | 26.1% | 24.7% | 26.0% |
| Operating Margin | 6.2% | 6.2% | 7.6% | 7.5% | 4.7% | 2.5% | 4.3% | -2.8% | -6.3% | 1.1% | 4.3% |
| Net Profit Margin | 4.3% | 4.3% | 5.3% | 5.2% | 3.3% | 1.9% | 3.1% | -5.0% | -5.7% | 0.9% | 2.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.2% | 11.2% | 13.1% | 15.8% | 10.8% | 4.6% | 7.8% | -12.6% | -13.1% | 1.9% | 6.4% |
| ROA | 6.5% | 6.5% | 7.7% | 8.5% | 5.0% | 2.6% | 5.1% | -7.6% | -8.0% | 1.3% | 5.0% |
| ROIC | 9.5% | 9.5% | 10.8% | 12.1% | 7.1% | 3.5% | 6.7% | -4.0% | -8.4% | 1.6% | 8.8% |
| ROCE | 12.6% | 12.6% | 14.5% | 16.3% | 9.4% | 4.5% | 8.8% | -5.2% | -10.9% | 2.0% | 9.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.29 | 0.29 | 0.35 | 0.26 | 0.61 | 0.63 | 0.09 | 0.33 | 0.33 | 0.31 | — |
| Debt / EBITDA | 1.38 | 1.38 | 1.58 | 0.98 | 2.89 | 5.10 | 0.52 | 35.75 | — | 4.19 | — |
| Net Debt / Equity | — | 0.27 | 0.33 | 0.25 | 0.60 | 0.61 | 0.06 | 0.32 | 0.30 | 0.29 | -0.22 |
| Net Debt / EBITDA | 1.31 | 1.31 | 1.49 | 0.95 | 2.82 | 4.96 | 0.36 | 34.88 | — | 3.93 | -1.64 |
| Debt / FCF | — | 1.82 | 1.79 | 0.95 | — | 3.10 | 0.29 | 4.35 | 5.21 | 3.24 | -4.47 |
| Interest Coverage | 11.56 | 11.56 | 16.35 | 10.04 | 10.70 | 28.58 | 14.39 | -8.78 | -12.57 | 5.97 | 390.00 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.99 | 1.99 | 2.05 | 1.96 | 2.06 | 1.76 | 2.48 | 2.78 | 2.61 | 2.36 | 3.26 |
| Quick Ratio | 1.17 | 1.17 | 1.16 | 1.13 | 1.10 | 0.93 | 1.36 | 1.69 | 1.40 | 1.26 | 2.13 |
| Cash Ratio | 0.04 | 0.04 | 0.05 | 0.02 | 0.03 | 0.03 | 0.10 | 0.02 | 0.08 | 0.07 | 0.86 |
| Asset Turnover | — | 1.45 | 1.35 | 1.68 | 1.46 | 1.10 | 1.77 | 1.64 | 1.49 | 1.29 | 1.65 |
| Inventory Turnover | 5.41 | 5.41 | 4.74 | 5.65 | 4.65 | 4.01 | 5.99 | 5.86 | 4.96 | 4.99 | 5.40 |
| Days Sales Outstanding | — | 66.43 | 63.59 | 59.34 | 63.19 | 68.19 | 48.51 | 61.72 | 55.91 | 54.69 | 53.22 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.8% | 1.1% | 1.3% | 1.5% | 3.1% | 2.4% | 3.1% | 5.4% | 3.7% | 2.1% | 1.5% |
| Payout Ratio | 24.5% | 24.5% | 23.0% | 21.1% | 35.4% | 90.1% | 55.0% | — | — | 168.3% | 44.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.2% | 4.6% | 5.7% | 7.0% | 8.8% | 2.6% | 5.6% | — | — | 1.3% | 3.3% |
| FCF Yield | 4.3% | 6.6% | 8.7% | 12.6% | — | 11.7% | 15.7% | 9.3% | 5.9% | 6.1% | 2.7% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.1% | 0.2% | 0.1% |
| Total Shareholder Yield | 0.8% | 1.1% | 1.3% | 1.5% | 3.1% | 2.4% | 3.1% | 5.6% | 3.8% | 2.4% | 1.6% |
| Shares Outstanding | — | $31M | $30M | $29M | $28M | $27M | $26M | $26M | $26M | $26M | $26M |
Acquisition-led leverage expansion
According to current market data, LYTS trades at a TTM P/E of 33.62, which appears elevated relative to its historical norms and peer group, suggesting that investors are pricing in significant future growth that may not be supported by recent earnings volatility and margin compression.
The forward P/E of 23.66 implies a market expectation for rapid earnings recovery, yet the PEG ratio of 1.98 suggests that the current valuation is expensive relative to the company's projected growth trajectory. This valuation gap warrants caution, as the market may be misclassifying the firm as a high-growth technology entity rather than a cyclical industrial hardware provider.
Based on reported financial statements, the company's ROIC has trended downward to 1.9% in 2026Q3 from a peak of 3.1% in 2025Q4, indicating that recent capital deployment, particularly through acquisitions, has failed to generate incremental returns that exceed the company's cost of capital.
The persistent decline in ROIC suggests that the firm is struggling to integrate new assets effectively, leading to a dilution of shareholder value. Investors should monitor whether this decay is a temporary byproduct of integration costs or a structural issue stemming from the lower-margin nature of the newly acquired business units.
As reported in quarterly filings, the asset turnover ratio has compressed to 0.25 in 2026Q3, down from 0.43 in 2025Q2, signaling that the company is becoming less efficient at utilizing its expanded asset base to generate top-line revenue following its recent aggressive acquisition strategy.
The lack of consistent data for the cash conversion cycle in recent periods makes it difficult to assess current liquidity management, but the downward trend in asset turnover suggests that the company's operational leverage is currently working against it. This inefficiency appears to be a primary driver of the observed strain on overall profitability.
Based on the 2026Q3 balance sheet, the debt-to-equity ratio has spiked to 0.58 from 0.24 in the prior quarter, indicating that the company has significantly increased its financial leverage to fund inorganic growth, which may limit its ability to navigate future cyclical downturns in the retail sector.
While the interest coverage ratio remains at 8.08, the rapid accumulation of debt relative to equity suggests a departure from the company's historically conservative capital structure. This shift increases the sensitivity of the firm's bottom line to interest rate fluctuations and reduces the margin of safety for shareholders.
The P/E ratio is frequently misapplied to LYTS, as it fails to account for the lumpy, project-based nature of the company's revenue and the significant non-recurring costs associated with its recent acquisition-heavy strategy, which artificially depresses current earnings and distorts the perceived valuation multiple.
Analysts should instead focus on EV/EBITDA or P/FCF to better capture the underlying cash-generating power of the business, as these metrics are less susceptible to the accounting noise inherent in project-based revenue recognition. Relying solely on P/E risks misinterpreting the company's true operational health during this period of structural transition.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying LYTS stock.
LSI Industries Inc.'s current P/E ratio is 31.5x. The historical average is 34.7x. This places it at the 75th percentile of its historical range.
LSI Industries Inc.'s current EV/EBITDA is 18.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.7x.
LSI Industries Inc.'s return on equity (ROE) is 11.2%. The historical average is 5.8%.
Based on historical data, LSI Industries Inc. is trading at a P/E of 31.5x. This is at the 75th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
LSI Industries Inc.'s current dividend yield is 0.78% with a payout ratio of 24.5%.
LSI Industries Inc. has 24.7% gross margin and 6.2% operating margin.
LSI Industries Inc.'s Debt/EBITDA ratio is 1.4x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.