# Acuity Inc. (AYI) — Stock CV

Acuity Inc. is a $8.93B technology company. Revenue grew 6.8% over the last year, it keeps 11¢ of every dollar of sales as profit, and its net debt equals ~0.1 years of free cash flow. It trades at 16.8× earnings — around the middle of its own history.

> Acuity is a leading industrial technology company that offers lighting, lighting controls, and intelligent building solutions. It designs, manufactures, and brings to market products and services relating to these and other offerings.

## Identity

- **Ticker**: AYI
- **Sector**: Technology
- **Industry**: Electric Lighting & Wiring Equipment
- **Headquarters**: ATLANTA, GA
- **Employees**: 13 800
- **Website**: https://www.acuityinc.com
- **Market cap**: $8.93B
- **Last price**: $298.34
- **Financial profile**: Strong

## Vitals (TTM)

- **Revenue**: $4.64B
- **Net income**: $531M
- **Free cash flow**: $748M
- **Net debt**: $61.1M
- **P/E**: 16.8
- **Revenue growth (YoY)**: 6.8%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 90 |
| Growth | 58 |
| Profitability | 80 |
| Health | 88 |
| Quality | 100 |
| Moat | 88 |

## Qualifications (beginner checklist) — 11 of 11 passed

- [x] Revenue growing — +6.8% YoY
- [x] Profitable — $531M TTM
- [x] Profit growing — +16.6% YoY
- [x] Generates cash — $748M TTM
- [x] Debt under control — ~0.1y of cash flow to repay
- [x] Established company — $8.93B market cap
- [x] Not printing shares — -14.9% shares over ~5y
- [x] Proven track record — 11/11 profitable years
- [x] Financially stable — Altman Z 4.5 — safe
- [x] Pays a dividend — yield 0.27%
- [x] Valuation not extreme — P/E 16.8

## Experience (career milestones)

- **FY2026** — Best year on record: $531M net income
- **Q2 2026** — 2 open-market insider purchases: ~1K shares bought by insiders
- **FY2019** — Became debt-free: cash now exceeds total debt
- **FY2016** — Profitable every year on record: 11 consecutive profitable years in our data
- **FY2016** — Revenue already above $1B: $3.29B in first reported year
- **FY2016** — Positive free cash flow every year since: 11-year streak
- **2007** — Effective July 2007, the company's chemical division, Acuity Specialty Products, spun off as Zep, Inc
- **2001** — Initially incorporated as L&C Spinco in June 2001, it was renamed Acuity Brands in November of the same year
- **1999** — NSI acquired several other lighting manufacturers over the next 30 years, the largest of which occurred in 1999
- **1997** — The chemical division expanded further in 1997 with the acquisition of Enforcer Products and Pure Corporation
- **1969** — NSI acquired Lithonia Lighting Inc., a light fixture manufacturer founded in Georgia in 1946
- **1968** — Zep became synonymous with NSI's chemical division, acquiring Selig Chemical Industries in 1968 and several smaller…
- **1966** — Zep co-founder Erwin Zaban, who had stayed on following the company's acquisition and was also Weinstein's neighbor,…
- **1964** — To better reflect its new variety of business units, National Linen became National Service Industries (NSI) in 1964
- **1962** — National Linen's first acquisition outside of linens and uniforms was Zep Manufacturing Company, an Atlanta-based…
- **1928** — The company went public in 1928 as National Linen Service Corporation and continued to grow, eventually expanding to…

## Strengths

- High gross margin (49.5%)
- Strong cash conversion — FCF is 16.1% of revenue
- Could repay net debt from ~0.1 years of free cash flow
- Interest covered 27.6× by operating earnings
- High returns on invested capital (ROIC 17.5%)

## Watch-outs

- None stand out in the data.

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2022 | $4.01B | $384M | $260M |
| FY2023 | $3.95B | $346M | $511M |
| FY2024 | $3.84B | $423M | $555M |
| FY2025 | $4.35B | $397M | $533M |
| FY2026 | $4.64B | $531M | $748M |

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Source: https://stockcv.com/AYI — derived from company filings; may be delayed or incomplete. Information, not investment advice.