Forensic Analysis · Industrials / Manufacturing / Defense · as of Aug 11, 2026

Acuity Inc. (De) (AYI)

A forensic read on Acuity Inc. (De) built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

C · Mixed — selective

Forensic grade

Safe

Financial health

10.3

Distress distance

Clean

Earnings quality

Forensic signals

22.9

P / E (ttm)

14.6%

ROE

$10.6B

Market cap

0.22%

Dividend yield

13.1%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Acuity Inc. (De) earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 10.3, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).

What the filings flag

+44.8%

FY2024→FY2025

Accruals ratio (% of NOA). Net operating assets grew +44.8% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The build is led by inventory up +36% against +10% in cost of sales. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 8% of net operating assets, diverging from the balance-sheet accrual read.

74d

FY2024→FY2025

Inventory days. Days inventory outstanding moved from 67 to 74 FY2024→FY2025 (against cost of goods sold; inventory +36% vs +10% in cost of sales). Inventory is building a little faster than sales — watch for markdowns.

12.8%

FY2025

Return on invested capital. Return on invested capital is 12.8% in the latest fiscal year and slipping from 16% — a modest positive spread over its ~9% cost of capital — growth adds value, though not dramatically.

Key fundamentals

Latest Revenue$4.35B

Revenue Growth YoY+13.1%

Revenue CAGR (3yr)+2.7%

Net Margin9.1%

Free Cash Flow$533.0M

Return on Equity14.6%

Debt / Equity0.33x

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.