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AYI

Acuity Brands, Inc.

AYI

Acuity Brands, Inc. • NYSE
$366.42 ▲ 0.12% (+0.45)
Market Cap $11.22 B
52w High $375.67
52w Low $216.81
Dividend Yield 0.68%
P/E 29.24
Volume 64.53K
Outstanding Shares 30.61M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $1.209B ▲ $410.4M ▼ $114M ▲ 9.429% ▲ $3.71 ▲ $191.1M ▲
Q3-2025 $1.179B ▲ $430.4M ▲ $98.4M ▲ 8.349% ▲ $3.19 ▲ $174.6M ▲
Q2-2025 $1.006B ▲ $357.8M ▲ $77.5M ▼ 7.701% ▼ $2.5 ▼ $110.2M ▼
Q1-2025 $951.6M ▼ $316M ▼ $106.7M ▼ 11.213% ▼ $3.45 ▼ $162.5M ▼
Q4-2024 $1.032B $331.7M $118.9M 11.518% $3.86 $181.2M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $422.5M ▲ $4.755B ▲ $2.03B ▼ $2.725B ▲
Q3-2025 $371.8M ▼ $4.646B ▲ $2.062B ▲ $2.584B ▲
Q2-2025 $397.9M ▼ $4.582B ▲ $2.061B ▲ $2.52B ▲
Q1-2025 $935.6M ▲ $3.864B ▲ $1.401B ▼ $2.463B ▲
Q4-2024 $845.8M $3.815B $1.436B $2.379B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $114M ▲ $202.5M ▼ $-31.4M ▲ $-122.2M ▲ $50.7M ▲ $177.7M ▼
Q3-2025 $98.4M ▲ $207.3M ▲ $-58.9M ▲ $-182.1M ▼ $-26.1M ▲ $192.3M ▲
Q2-2025 $77.5M ▼ $59.4M ▼ $-1.172B ▼ $578.4M ▲ $-537.7M ▼ $49.7M ▼
Q1-2025 $106.7M ▼ $132.2M ▼ $-18.4M ▲ $-18.7M ▼ $89.8M ▼ $113.3M ▼
Q4-2024 $118.9M $174.1M $-20.5M $-4M $146.8M $151.1M

Revenue by Products

Product Q3-2024Q1-2025Q2-2025Q3-2025
Acuity Brands Lighting Segment
Acuity Brands Lighting Segment
 $0 ▲$890.00M ▲$840.00M ▼$920.00M ▲
Acuity Intelligent Spaces Segment
Acuity Intelligent Spaces Segment
 $0 ▲$70.00M ▲$170.00M ▲$260.00M ▲
Sales Channel Through Corporate Accounts Network
Sales Channel Through Corporate Accounts Network
 $0 ▲$30.00M ▲$40.00M ▲$40.00M ▲
Sales Channel Through Direct Sales Network
Sales Channel Through Direct Sales Network
 $0 ▲$110.00M ▲$100.00M ▼$100.00M ▲
Sales Channel Through Independent Sales Network
Sales Channel Through Independent Sales Network
 $0 ▲$640.00M ▲$620.00M ▼$690.00M ▲
Sales Channel Through Original Equipment Manufacturer And Other
Sales Channel Through Original Equipment Manufacturer And Other
 $0 ▲$60.00M ▲$50.00M ▼$60.00M ▲
Sales Channel Through Retail
Sales Channel Through Retail
 $0 ▲$40.00M ▲$40.00M ▲$40.00M ▲
Acuity Brands Lighting and Lighting Controls Segment
Acuity Brands Lighting and Lighting Controls Segment
 $900.00M ▲$0 ▼$0 ▲$0 ▲
Intelligent Spaces Group Segment
Intelligent Spaces Group Segment
 $80.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has trended upward over the past several years, with only a brief pause in growth before resuming a solid climb. Profitability has improved meaningfully: the company is earning more on each dollar of sales than it used to, helped by a richer product mix, better pricing, and efficiency gains. Operating profit has steadily strengthened, but the most recent year shows a small step down in earnings per share from the prior peak, likely reflecting higher non‑operating costs such as interest, taxes, or acquisition‑related items. Overall, this looks like a mature but still improving business, with healthier margins than in the past and only modest recent pressure at the bottom line.

Balance Sheet

Balance Sheet The balance sheet looks generally solid and better capitalized than a few years ago. Total assets and shareholder equity have grown, which suggests reinvestment and retained profits. Debt has increased recently and cash on hand has moved down from a prior peak, implying the company has been more willing to use borrowing and its cash reserves, likely to fund acquisitions, buybacks, or growth projects. Even with this higher leverage, equity still comfortably exceeds debt, which points to a balanced but more assertive capital structure rather than an overstretched one.

Cash Flow

Cash Flow The business generates steady, healthy cash flow from operations, and that cash has generally grown over time. Free cash flow remains strong even after funding capital spending, helped by the fact that the company’s ongoing investment needs are relatively modest compared with the cash it brings in. There was one weaker year earlier in the period, but the trend since then has been positive. This cash profile gives the company flexibility to invest in innovation, make acquisitions, reduce debt, or return cash to shareholders, even while navigating economic cycles in construction and industrial demand.

Competitive Edge

Competitive Edge Acuity holds a leading position in North American lighting, supported by scale, a very broad product range, and long‑standing relationships with distributors, contractors, and specifiers. Its shift from basic fixtures toward systems that combine luminaires, controls, and software strengthens its differentiation, since many rivals still sell more standalone products. The company’s installed base, brand recognition, and distribution network create meaningful barriers to entry. However, it still faces competition from global lighting players, building automation providers, and newer tech‑centric entrants, particularly as the market shifts toward integrated smart‑building platforms. Execution in intelligent spaces and successful integration of acquisitions will be key to defending and extending this moat.

Innovation and R&D

Innovation and R&D Innovation is now central to Acuity’s strategy. The core lighting segment continues to push energy‑efficient LED and control solutions, adding intelligence through embedded sensors and software. At the same time, the Intelligent Spaces segment moves the company deeper into building management, data analytics, and location‑aware applications, expanding beyond lighting into broader smart‑building functionality. Recent acquisitions, like the cloud‑based audio and control business, widen the technology stack and potential use cases. The company is steadily increasing R&D spending and is clearly targeting long‑term themes such as sustainability, net‑zero buildings, and AI‑driven optimization. The upside is a richer, more software‑ and services‑oriented portfolio; the risk is execution—integrating technologies, keeping platforms open and interoperable, and staying ahead in a fast‑moving IoT and AI landscape.

Summary

Acuity Brands (soon to be Acuity Inc.) appears to be evolving from a traditional lighting manufacturer into a more diversified building‑technology player. Financially, it shows a pattern of rising sales, stronger margins, and robust cash generation, though the most recent year’s earnings came in slightly below the prior peak and leverage has ticked up. Strategically, it benefits from a strong position in North American lighting and is using that base to expand into intelligent spaces, data‑driven building management, and sustainability‑oriented solutions. The key opportunities lie in scaling its smart‑building platforms and monetizing data and software, while the main risks center on economic cycles, competition from other tech‑driven building solution providers, and the challenge of executing a complex technological and organizational transformation.

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