Acuity Brands, Inc.
- Open
- 335.57
- Day high
- 339.07
- Day low
- 330.25
- Prev close
- 329.76
- Volume
- 398K
- Mkt cap
- $10.1B
- P/E (TTM)
- 21.7
- EPS (TTM)
- $15.45
- P/B
- 3.6
- P/S
- 2.2
- Yield
- 0.22%
- Per share
- $0.74
- ▼Insiders net selling -$381K over the last 3 months (1 open-market buy, 1 sale)
- 🏛Institutions mixed (13F)
Acuity Brands, Inc. (AYI) is a Industrials company listed on NYSE. The stock is up 9% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 1 sale (SEC Form 4).
Acuity Brands, Inc. (AYI) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
AYI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 25, 2026 | $5.17 | $5.31 | +2.7% | $1.2B | +1.8% |
| Jan 8, 2026 | $4.52 | $4.69 | +3.8% | $1.1B | +4.8% |
| Oct 1, 2025 | $4.83 | $5.20 | +7.7% | $1.2B | -1.6% |
| Jun 26, 2025 | $4.44 | $5.12 | +15.3% | $1.2B | +2.7% |
| Jan 8, 2025 | $3.87 | $3.97 | +2.6% | $952M | -7.2% |
| Oct 1, 2024 | $4.28 | $4.30 | +0.5% | $1.0B | +0.8% |
| Apr 3, 2024 | $3.24 | $3.38 | +4.3% | $906M | -0.2% |
| Jan 9, 2024 | $3.23 | $3.72 | +15.2% | $935M | +0.4% |
| Oct 4, 2023 | $3.57 | $3.97 | +11.2% | $1.0B | +8.7% |
| Apr 4, 2023 | $2.72 | $3.06 | +12.5% | $944M | -1.6% |
| Jan 9, 2023 | $2.92 | $3.29 | +12.7% | $998M | +1.4% |
| Oct 4, 2022 | $3.59 | $3.95 | +10.0% | $1.1B | +2.9% |
AYI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 6, 2026 | GOLDMAN BARRY Rofficer: SVP & General Counsel | Sell | 1,200 | $365.65 |
| May 4, 2026 | Leibman Mayadirector | Buy | 200 | $288.83 |
| Apr 10, 2026 | O'Shaughnessy Lauradirector | Buy | 1,000 | $282.98 |
| Jan 30, 2026 | HOLCOM KAREN Jofficer: SVP & Chief Financial Officer | Sell | 4,974 | $309.23 |
| Jan 30, 2026 | HOLCOM KAREN Jofficer: SVP & Chief Financial Officer | Option | 897 | $239.76 |
| Jan 23, 2026 | Leibman Mayadirector | Grant | 546 | — |
| Jan 23, 2026 | AVEDON MARCIA Jdirector | Grant | 546 | — |
| Jan 23, 2026 | Bender Michael Jdirector | Grant | 546 | — |
| Jan 23, 2026 | HANCE JAMES H JRdirector | Grant | 546 | $320.59 |
| Jan 23, 2026 | DILLARD GEORGE DOUGLAS JRdirector | Grant | 546 | — |
| Jan 23, 2026 | Battle W. Patrickdirector | Grant | 546 | — |
| Jan 23, 2026 | Sachleben Markdirector | Grant | 546 | — |
| Jan 23, 2026 | O'Shaughnessy Lauradirector | Grant | 546 | — |
| Oct 30, 2025 | GOLDMAN BARRY Rofficer: SVP & General Counsel | Sell | 470 | $365.75 |
| Oct 30, 2025 | GOLDMAN BARRY Rofficer: SVP & General Counsel | Sell | 1,839 | $364.94 |
Source: AYI SEC Form 4 filings, latest Jul 6, 2026. For informational purposes only — not investment advice.
See the full AYI insider & 13F page →Acuity Brands, Inc. company profile
Overview
Acuity Brands, Inc. (NYSE:AYI) is a leading North American lighting and building management solutions company founded in 2001 through a spinoff from National Service Industries. Headquartered in Atlanta, Georgia, the company has evolved from a traditional lighting manufacturer into a technology-driven provider of intelligent building solutions. Over more than two decades, Acuity has built a comprehensive portfolio of lighting products and smart building technologies through organic growth and strategic acquisitions, positioning itself as a key player in the transition toward connected, data-driven building environments.
Business
Acuity operates in the commercial and industrial lighting industry, which encompasses the design, manufacture, and distribution of lighting fixtures, controls, and building management systems. The lighting industry has undergone significant transformation with the widespread adoption of LED technology and the growing integration of Internet of Things (IoT) capabilities that enable smart building functionality. The company operates through two primary business segments: 1. Acuity Brands Lighting and Lighting Controls (ABL) - approximately 85-90% of revenue: This segment manufactures and distributes a comprehensive range of lighting solutions including commercial fixtures (for offices, retail spaces, warehouses), architectural lighting (decorative and design-focused products), specialty lighting (for specific applications like healthcare or sports facilities), and lighting control systems. Products are sold under well-known brands including Lithonia Lighting, Holophane, Gotham, Juno, and others. The segment serves various indoor and outdoor applications across commercial, industrial, and institutional markets. 2. Intelligent Spaces Group (ISG) - approximately 10-15% of revenue: This newer, higher-growth segment focuses on building management systems and location-aware applications that transform traditional buildings into "intelligent spaces." The division includes Distech Controls (building automation systems that manage HVAC, lighting, and energy), Atrius (IoT platform for asset tracking and space utilization), and recently acquired QSC (audio-visual and collaboration technologies). These systems collect and analyze data from building sensors to optimize energy usage, improve occupant comfort, and enhance building security and efficiency. The lighting industry serves as the foundation, but Acuity's strategic direction emphasizes the convergence of lighting with data collection and building intelligence, reflecting the broader trend toward smart buildings and sustainable facility management.
Revenue model
Acuity generates revenue primarily through product sales to a diverse customer base in the commercial construction and renovation markets. The ABL segment sells lighting fixtures, controls, and components through multiple channels including electrical distributors (the largest channel), retail home improvement centers, lighting showrooms, and directly to large national accounts and contractors. Customers include electrical contractors, architects, lighting designers, facility managers, and building owners who specify and purchase lighting solutions for new construction and retrofit projects. The ISG segment operates on a systems integration model, selling building management hardware and software solutions through specialized system integrators who design and install complete building automation systems. This segment also generates recurring revenue through software licenses, maintenance contracts, and ongoing support services. Several factors influence Acuity's profitability and margins: Margin-enhancing factors include the company's focus on "product vitality" (continuously introducing innovative, higher-value products), strategic pricing power due to strong brand recognition and technical expertise, vertical integration of electronic components, operational efficiency improvements, and the growing mix of higher-margin intelligent systems and controls. The shift toward LED technology has also enabled better margins as LEDs offer superior performance characteristics that justify premium pricing. Margin-pressuring factors include commodity price inflation (steel, copper, electronic components), labor cost increases, competitive pricing pressure in commodity lighting products, supply chain disruptions, and potential tariff impacts on Asian-sourced components. Economic downturns that reduce construction activity and building renovation projects directly impact demand. The company's significant exposure to North American commercial construction markets makes it sensitive to interest rates, commercial real estate trends, and overall economic conditions that affect building investment decisions. The business model benefits from relatively predictable replacement cycles for lighting products and the ongoing trend toward energy-efficient LED conversions, though it remains cyclical due to its dependence on construction and renovation activity.
Competitive moat
Acuity's competitive position rests on several moderately strong but not insurmountable advantages. The company benefits from brand recognition and distribution relationships built over decades, particularly with electrical distributors who value reliable supply, technical support, and comprehensive product lines. Acuity's extensive portfolio of lighting brands provides broad market coverage and customer loyalty in specific niches. The company's technical expertise and innovation capabilities create differentiation, especially in complex lighting applications and intelligent building systems where customers value engineering support and customization. The integration of lighting with building controls and IoT capabilities provides some technological moat, as switching costs increase when lighting systems are connected to broader building management infrastructure. Scale advantages in manufacturing, procurement, and distribution provide cost efficiencies that smaller competitors struggle to match. Acuity's financial resources enable continued investment in R&D and strategic acquisitions that smaller players cannot afford. However, the moat faces significant challenges. The lighting industry includes numerous competitors ranging from large multinationals (Signify, Cree) to specialized manufacturers and low-cost imports. LED technology has commoditized many basic lighting applications, reducing differentiation. The intelligent building systems market, while growing rapidly, faces competition from technology companies, established building automation firms, and new entrants with software expertise. The company's North American focus, while providing market intimacy, also limits geographic diversification compared to global competitors. Overall, Acuity maintains a solid competitive position but operates in markets where technological change and new entrants continuously challenge incumbent advantages.
Risks & safety
Acuity demonstrates a strong financial position with substantial margin of safety: • Strong liquidity: $398 million cash and short-term investments as of Q2 2025, with current ratio of 1.95 and quick ratio of 1.36 • Manageable debt levels: Debt-to-equity ratio of 0.47, indicating moderate leverage without solvency concerns • Positive cash generation: Consistent positive free cash flow ($50 million in Q2 2025, $555 million in FY 2024) • Valuation metrics: Trading at 29.7x P/E ratio and 22.7x EV/EBITDA, indicating premium valuation but supported by growth prospects • Operational stability: Maintained profitability through economic cycles with operating margins consistently above 15% • Strategic flexibility: Strong balance sheet enables continued acquisitions, dividend increases, and share repurchases The primary financial risk stems from the cyclical nature of construction markets and potential economic downturns that could pressure cash flows, though the company's diversified end markets and strong market position provide some protection.
Recent development
Over the past few years, Acuity has executed a strategic transformation from a traditional lighting company to an intelligent building solutions provider. The company rebranded from "Acuity Brands" to simply "Acuity" to reflect its evolution into a data and controls business with lighting capabilities. Key strategic moves include the acquisition of QSC in early 2025, a significant expansion into audio-visual and collaboration technologies that enhances the Intelligent Spaces Group's capabilities. This follows previous acquisitions of Distech Controls (building automation) and KE2 Therm (commercial refrigeration controls) that built the foundation for the ISG segment. The company has systematically expanded its product portfolio with new lines including Design Select (architectural lighting), Contractor Select (value-engineered solutions), and Made-to-Order products. Acuity has also entered new vertical markets including refueling station lighting and horticulture applications, demonstrating its ability to leverage core lighting expertise into specialized niches. Geographic expansion has been a focus, particularly for Distech Controls which has expanded into the UK, Australia, and Asia markets. The company has also invested heavily in digital capabilities and IoT integration, developing platforms like Atrius DataLab for building analytics and space optimization. Operationally, Acuity has focused on margin improvement through product vitality initiatives, strategic pricing, and vertical integration of electronic components. The ABL segment's operating margins improved from 15% in 2020 to 18% by 2024, demonstrating successful execution of value-enhancement strategies while navigating supply chain challenges and inflationary pressures.
AYI company profile · for informational purposes only — not investment advice.
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