LSI Industries Inc. — Earnings Quality Grade F
LYTS · Technology
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 66 days, change +5 days YoY
AR outpaced revenue for 2 consecutive years
Revenue grew 22.1% but CFFO declined -12.2%
Small-cap context: Small-cap revenue/CFFO ratio is sensitive to growth-stage working-capital draws.
Expense Quality
Inventory 12.6% vs COGS 28.3%. Normal
CapEx growth -35.7% vs revenue 22.1%. Normal
SG&A/Gross Profit = 74.7%, exceeds 70%
Gross margin 24.7%, change -3.6pp. Stable
Cash Flow Quality
CFFO/NI = 1.56. Profits backed by cash
FCF $0.0B, FCF/NI = 1.42
Accruals ratio = -3.5%. Low accruals
Cash $0.0B covers only 5% of debt $0.1B
Balance Sheet Health
Goodwill+Intangibles $0.1B = 62% of equity. Over 50%
Debt/EBITDA = 1.4x. Healthy
Other assets grew 213.6% vs revenue 22.1%
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 9% YoY. Normal
Manipulation Score
M-Score = -2.28 (< -2.22). Unlikely manipulator
Portfolio monitoring
Monitor LYTS continuously
The full checks and model details are free to read. Use Watchlist to track your holdings; Pro adds automatic quarterly rescoring, risk-event email alerts, scans up to 50 tickers, and export workflows.
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25