Does LSI INDUSTRIES INC have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores LSI INDUSTRIES INC (LYTS) 44.0 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 41, returns on capital 22, balance-sheet safety 66, capital discipline 60.

Is LYTS stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 4% assumed growth, capped at 4%), estimated intrinsic value is $17.72 per share versus a recent price of $23.93 — 35% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has LYTS's Moat Score changed over time?

The record logs 2 readings since Jul 17, 2026; the latest reads 44.0 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

LSI INDUSTRIES INC

LYTS · Industrials · $719.2M mkt cap · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power41

Median gross margin 24.9% over 10y, very stable.

Returns on capital22

Median ROIC 7.6%, above the 9% hurdle in 30% of years.

Balance-sheet safety66

Net debt/EBITDA 0.9x, interest coverage 11x.

Capital discipline60

Owner earnings +15.1%/yr, share count growing (dilution).

Margin of safety

Above valueOn sale

35% above value

Owner earnings (normalized): $29.6M
Est. intrinsic value / share: $17.72
Recent price: $23.93
Discount to value: 35% above value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Fundamentals

There's no normalized fundamentals series for LYTS yet — it appears once ingest has processed its filings.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale44.0 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — LYTS has read Shallow moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Industrials context

#139 of 309 scored Industrials companies, ranked by Moat Score.

Nearest peers by Moat Score

#137AZTA AZENTA, INC.44.2 out of 100, Shallow moatShallow moat
#138GTES Gates Industrial Corporation plc44.2 out of 100, Shallow moatShallow moat
#140TAIT TAITRON COMPONENTS INCORPORATED44.0 out of 100, Shallow moatShallow moat
#141BXC BlueLinx Holdings Inc.43.5 out of 100, Shallow moatShallow moat

Compare LYTS with its nearest peers →All Industrials companies on the Index →

Common questions about LYTS

Does LSI INDUSTRIES INC have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores LSI INDUSTRIES INC (LYTS) 44.0 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 41, returns on capital 22, balance-sheet safety 66, capital discipline 60.
Is LYTS stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 4% assumed growth, capped at 4%), estimated intrinsic value is $17.72 per share versus a recent price of $23.93 — 35% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has LYTS's Moat Score changed over time?: The record logs 2 readings since Jul 17, 2026; the latest reads 44.0 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell LYTS. See the disclaimer.