Loading...

Acuity Brands

NYSE:AYI
Snowflake Description

Flawless balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AYI
NYSE
$5B
Market Cap
  1. Home
  2. US
  3. Capital Goods
Company description

Acuity Brands, Inc. provides lighting and building management solutions and services for commercial, institutional, industrial, infrastructure, and residential applications in North America and internationally. The last earnings update was 74 days ago. More info.


Add to Portfolio Compare Print
AYI Share Price and Events
7 Day Returns
-9%
NYSE:AYI
-2.9%
US Electrical
-1.1%
US Market
1 Year Returns
-10.2%
NYSE:AYI
2%
US Electrical
6.4%
US Market
AYI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Acuity Brands (AYI) -9% -8.9% 12.4% -10.2% -44.7% -8.7%
US Electrical -2.9% -3.5% 16.3% 2% 24.9% 6.1%
US Market -1.1% 0.3% 17.2% 6.4% 37.9% 42.1%
1 Year Return vs Industry and Market
  • AYI underperformed the Electrical industry which returned 2% over the past year.
  • AYI underperformed the Market in United States of America which returned 6.4% over the past year.
Price Volatility
AYI
Industry
5yr Volatility vs Market

AYI Value

 Is Acuity Brands undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Acuity Brands to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Acuity Brands.

NYSE:AYI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:AYI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Electrical Unlevered Beta Simply Wall St/ S&P Global 1.13
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.132 (1 + (1- 21%) (7.59%))
1.134
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.134 * 5.96%)
9.49%

Discounted Cash Flow Calculation for NYSE:AYI using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Acuity Brands is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:AYI DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.49%)
2019 369.90 Analyst x5 337.85
2020 398.60 Analyst x6 332.52
2021 388.00 Analyst x1 295.63
2022 383.85 Est @ -1.07% 267.13
2023 384.12 Est @ 0.07% 244.15
2024 387.45 Est @ 0.87% 224.94
2025 392.98 Est @ 1.43% 208.38
2026 400.13 Est @ 1.82% 193.78
2027 408.49 Est @ 2.09% 180.69
2028 417.82 Est @ 2.28% 168.80
Present value of next 10 years cash flows $2,453.88
NYSE:AYI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $417.82 × (1 + 2.73%) ÷ (9.49% – 2.73%)
$6,352.84
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $6,352.84 ÷ (1 + 9.49%)10
$2,566.64
NYSE:AYI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,453.88 + $2,566.64
$5,020.52
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $5,020.52 / 39.49
$127.13
NYSE:AYI Discount to Share Price
Calculation Result
Value per share (USD) From above. $127.13
Current discount Discount to share price of $118.95
= -1 x ($118.95 - $127.13) / $127.13
6.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Acuity Brands is available for.
Intrinsic value
6%
Share price is $118.95 vs Future cash flow value of $127.13
Current Discount Checks
For Acuity Brands to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Acuity Brands's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Acuity Brands's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Acuity Brands's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Acuity Brands's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:AYI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-11-30) in USD $8.85
NYSE:AYI Share Price ** NYSE (2019-03-22) in USD $118.95
United States of America Electrical Industry PE Ratio Median Figure of 30 Publicly-Listed Electrical Companies 15.53x
United States of America Market PE Ratio Median Figure of 3,062 Publicly-Listed Companies 17.16x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Acuity Brands.

NYSE:AYI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:AYI Share Price ÷ EPS (both in USD)

= 118.95 ÷ 8.85

13.44x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Acuity Brands is good value based on earnings compared to the US Electrical industry average.
  • Acuity Brands is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Acuity Brands's expected growth come at a high price?
Raw Data
NYSE:AYI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.44x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
6.7%per year
United States of America Electrical Industry PEG Ratio Median Figure of 19 Publicly-Listed Electrical Companies 1.5x
United States of America Market PEG Ratio Median Figure of 2,105 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

NYSE:AYI PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.44x ÷ 6.7%

2x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Acuity Brands is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Acuity Brands's assets?
Raw Data
NYSE:AYI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-11-30) in USD $43.77
NYSE:AYI Share Price * NYSE (2019-03-22) in USD $118.95
United States of America Electrical Industry PB Ratio Median Figure of 63 Publicly-Listed Electrical Companies 1.76x
United States of America Market PB Ratio Median Figure of 5,165 Publicly-Listed Companies 1.85x
NYSE:AYI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:AYI Share Price ÷ Book Value per Share (both in USD)

= 118.95 ÷ 43.77

2.72x

* Primary Listing of Acuity Brands.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Acuity Brands is overvalued based on assets compared to the US Electrical industry average.
X
Value checks
We assess Acuity Brands's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electrical industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electrical industry average (and greater than 0)? (1 check)
  5. Acuity Brands has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

AYI Future Performance

 How is Acuity Brands expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Acuity Brands expected to grow at an attractive rate?
  • Acuity Brands's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Acuity Brands's earnings growth is positive but not above the United States of America market average.
  • Acuity Brands's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:AYI Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:AYI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 6.7%
NYSE:AYI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 3%
United States of America Electrical Industry Earnings Growth Rate Market Cap Weighted Average 9.5%
United States of America Electrical Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:AYI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:AYI Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-08-31 4,125 486 397 2
2020-08-31 4,005 466 369 10
2019-08-31 3,893 433 337 10
NYSE:AYI Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-11-30 3,770 345 358
2018-08-31 3,680 353 350
2018-05-31 3,577 439 332
2018-02-28 3,524 425 341
2017-11-30 3,497 421 312
2017-08-31 3,505 337 322
2017-05-31 3,473 300 314
2017-02-28 3,433 316 306
2016-11-30 3,406 350 304
2016-08-31 3,291 388 290
2016-05-31 3,125 375 267
2016-02-29 2,958 333 258

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Acuity Brands's earnings are expected to grow by 6.7% yearly, however this is not considered high growth (20% yearly).
  • Acuity Brands's revenue is expected to grow by 3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:AYI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from Acuity Brands Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:AYI Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-08-31
2020-08-31 9.41 9.92 8.48 6.00
2019-08-31 8.33 8.81 7.59 6.00
NYSE:AYI Past Financials Data
Date (Data in USD Millions) EPS *
2018-11-30 8.85
2018-08-31 8.55
2018-05-31 8.02
2018-02-28 8.12
2017-11-30 7.31
2017-08-31 7.46
2017-05-31 7.21
2017-02-28 7.00
2016-11-30 6.96
2016-08-31 6.68
2016-05-31 6.17
2016-02-29 5.96

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Acuity Brands is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Acuity Brands's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Acuity Brands has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

AYI Past Performance

  How has Acuity Brands performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Acuity Brands's growth in the last year to its industry (Electrical).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Acuity Brands's year on year earnings growth rate has been positive over the past 5 years.
  • Acuity Brands's 1-year earnings growth is less than its 5-year average (14.8% vs 17.4%)
  • Acuity Brands's earnings growth has not exceeded the US Electrical industry average in the past year (14.8% vs 40.5%).
Earnings and Revenue History
Acuity Brands's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Acuity Brands Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:AYI Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-11-30 3,769.90 357.70 951.00 63.90
2018-08-31 3,680.10 349.60 932.10 63.90
2018-05-31 3,576.50 331.90 915.20 52.00
2018-02-28 3,524.10 341.10 889.10 52.00
2017-11-30 3,496.70 311.50 867.50 52.00
2017-08-31 3,505.10 321.70 871.10 52.00
2017-05-31 3,472.90 314.00 894.20 47.10
2017-02-28 3,432.80 305.70 902.70 47.10
2016-11-30 3,405.90 303.80 913.40 47.10
2016-08-31 3,291.30 290.40 864.40 47.10
2016-05-31 3,125.40 267.40 840.80 41.10
2016-02-29 2,957.60 257.80 788.30 41.10
2015-11-30 2,795.90 238.60 736.80 41.10
2015-08-31 2,706.70 221.10 712.60 41.10
2015-05-31 2,615.90 215.70 705.50 35.30
2015-02-28 2,536.10 194.70 682.40 35.30
2014-11-30 2,466.20 181.00 662.40 35.30
2014-08-31 2,393.50 174.20 650.80 35.30
2014-05-31 2,304.60 164.00 619.40 32.70
2014-02-28 2,242.20 151.90 603.60 32.70
2013-11-30 2,182.70 143.80 590.90 32.70
2013-08-31 2,089.10 125.40 574.90 32.70
2013-05-31 2,023.50 113.80 553.20 34.70
2013-02-28 1,969.50 115.60 540.10 34.70
2012-11-30 1,940.50 110.40 532.30 34.70
2012-08-31 1,933.70 114.10 532.00 34.70
2012-05-31 1,915.70 115.10 564.10

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Acuity Brands has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Acuity Brands used its assets more efficiently than the US Electrical industry average last year based on Return on Assets.
  • Acuity Brands's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Acuity Brands's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electrical industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Acuity Brands has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

AYI Health

 How is Acuity Brands's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Acuity Brands's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Acuity Brands is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Acuity Brands's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Acuity Brands's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 3.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Acuity Brands Company Filings, last reported 3 months ago.

NYSE:AYI Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-11-30 1,750.90 356.70 214.80
2018-08-31 1,716.80 356.80 129.10
2018-05-31 1,600.40 358.00 94.30
2018-02-28 1,635.80 356.90 229.80
2017-11-30 1,726.10 356.90 428.60
2017-08-31 1,665.60 356.90 311.10
2017-05-31 1,535.20 356.70 189.70
2017-02-28 1,804.80 356.10 463.20
2016-11-30 1,730.10 356.00 451.20
2016-08-31 1,659.80 355.20 413.20
2016-05-31 1,587.90 354.40 337.00
2016-02-29 1,493.40 353.70 224.30
2015-11-30 1,434.90 352.40 560.20
2015-08-31 1,360.00 352.40 756.80
2015-05-31 1,313.70 353.70 652.10
2015-02-28 1,251.60 353.70 601.10
2014-11-30 1,210.70 353.60 583.00
2014-08-31 1,163.50 351.90 552.50
2014-05-31 1,124.80 353.60 467.30
2014-02-28 1,079.40 353.60 408.20
2013-11-30 1,039.60 353.60 398.10
2013-08-31 993.50 353.60 359.10
2013-05-31 922.60 353.50 301.90
2013-02-28 890.70 353.50 262.80
2012-11-30 866.10 353.50 267.50
2012-08-31 834.00 353.50 284.50
2012-05-31 819.00 353.50 228.30
  • Acuity Brands's level of debt (20.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (34% vs 20.4% today).
  • Debt is well covered by operating cash flow (96.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 13.7x coverage).
X
Financial health checks
We assess Acuity Brands's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Acuity Brands has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

AYI Dividends

 What is Acuity Brands's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.44%
Current annual income from Acuity Brands dividends. Estimated to be 0.44% next year.
If you bought $2,000 of Acuity Brands shares you are expected to receive $9 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Acuity Brands's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).
  • Acuity Brands's dividend is below the markets top 25% of dividend payers in United States of America (3.72%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:AYI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
United States of America Electrical Industry Average Dividend Yield Market Cap Weighted Average of 20 Stocks 2.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2003 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.9%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:AYI Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-08-31 0.53 2.00
2020-08-31 0.52 9.00
2019-08-31 0.52 9.00
NYSE:AYI Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-01-04 0.520 0.416
2018-09-28 0.520 0.423
2018-06-29 0.520 0.366
2018-03-29 0.520 0.427
2017-09-29 0.520 0.326
2017-06-27 0.520 0.280
2017-03-30 0.520 0.295
2017-01-06 0.520 0.248
2016-09-30 0.520 0.215
2016-06-24 0.520 0.197
2016-04-01 0.520 0.208
2016-01-06 0.520 0.254
2015-06-26 0.520 0.255
2015-03-27 0.520 0.297
2015-01-07 0.520 0.331
2014-09-30 0.520 0.384
2014-06-27 0.520 0.440
2014-03-28 0.520 0.410
2014-01-07 0.520 0.391
2013-09-27 0.520 0.511
2013-06-28 0.520 0.598
2013-04-01 0.520 0.703
2013-01-04 0.520 0.745
2012-09-28 0.520 0.807
2012-07-02 0.520 0.831
2012-01-06 0.520 0.912
2011-09-30 0.520 1.118
2011-06-24 0.520 1.145
2011-03-25 0.520 0.895
2011-01-07 0.520 0.928
2010-10-01 0.520 0.972
2010-06-25 0.520 1.288
2010-03-26 0.520 1.196
2010-01-08 0.520 1.342
2009-10-02 0.520 1.542
2009-06-26 0.520 1.698
2009-03-27 0.520 1.947
2009-03-25 0.520 2.159

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Acuity Brands is not paying a notable dividend for United States of America, therefore no need to check if the payments are stable.
  • Acuity Brands is not paying a notable dividend for United States of America, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Acuity Brands's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Acuity Brands's dividends as it is not paying a notable one for United States of America.
Future Payout to shareholders
  • No need to calculate the sustainability of Acuity Brands's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess Acuity Brands's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Acuity Brands afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Acuity Brands has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AYI Management

 What is the CEO of Acuity Brands's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Vernon Nagel
COMPENSATION $2,456,355
AGE 61
TENURE AS CEO 14.5 years
CEO Bio

Mr. Vernon J. Nagel has been the Chairman of the Board and Chief Executive Officer of Acuity Brands, Inc. since September 1, 2004 and has been its President since August 2, 2005. Mr. Nagel serves as the Chief Executive Officer and President of Acuity Brands Lighting, Inc. He is responsible for all of Acuity Brands Lighting Inc.'s operations, which include Lithonia Lighting, Holophane, Peerless and other leading lighting brands. He served as an Executive Vice President and Chief Financial Officer of Acuity Brands, Inc. from December 2001 to January 2004. He served as a Principal with Jepson Associates Inc. since 1999. He served as Chief Financial Officer, Chief Accounting officer and Treasurer of Kuhlman Corp. from April 1993 to 1999, its Executive Vice President of Finance from February 1994 to 1999 and served as its Vice President of Finance since April 5, 1993. Mr. Nagel served as the Vice President of Finance, Chief Financial Officer and Secretary at Stericycle Inc. from 1990 to 1993. Prior thereto, he served in various financial executive capacities with The Jepson Corporation from 1985 to 1990. He served as a Vice Chairman of Acuity Brands, Inc. from January 20, 2004 to August 2004 and has been its Director since January 20, 2004. He served as a Director at Industry Data Exchange Association, Inc. He received a BBA degree from the University of Michigan. Mr. Nagel is a Certified Public Accountant from the American Institute of Certified Public Accountants.

CEO Compensation
  • Vernon's compensation has been consistent with company performance over the past year.
  • Vernon's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Acuity Brands management team in years:

11.2
Average Tenure
59.5
Average Age
  • The average tenure for the Acuity Brands management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Vernon Nagel

TITLE
Chairman
COMPENSATION
$2M
AGE
61
TENURE
14.5 yrs

Ricky Reece

TITLE
CFO & Executive VP
COMPENSATION
$2M
AGE
62
TENURE
13.3 yrs

Laurent Vernerey

TITLE
Executive Vice President
COMPENSATION
$3M
AGE
58
TENURE
1.3 yrs

C. Smith

TITLE
Senior VP
COMPENSATION
$577K
AGE
53
TENURE
9.2 yrs

Barry Goldman

TITLE
Senior VP & General Counsel of Acuity Brands Lighting
Board of Directors Tenure

Average tenure and age of the Acuity Brands board of directors in years:

6.5
Average Tenure
68.5
Average Age
  • The tenure for the Acuity Brands board of directors is about average.
Board of Directors

Vernon Nagel

TITLE
Chairman
COMPENSATION
$2M
AGE
61
TENURE
14.5 yrs

Peter Browning

TITLE
Independent Lead Director
COMPENSATION
$220K
AGE
77

Ray Robinson

TITLE
Independent Director
COMPENSATION
$220K
AGE
70
TENURE
17.3 yrs

Dominic Pileggi

TITLE
Independent Director
COMPENSATION
$214K
AGE
67
TENURE
6.5 yrs

Judi North

TITLE
Independent Director
COMPENSATION
$205K
AGE
71
TENURE
16.8 yrs

Robert McCullough

TITLE
Independent Director
COMPENSATION
$211K
AGE
76
TENURE
16 yrs

Jim Hance

TITLE
Independent Director
COMPENSATION
$205K
AGE
74
TENURE
4.6 yrs

W. Battle

TITLE
Independent Director
COMPENSATION
$205K
AGE
55
TENURE
4.5 yrs

Mary Winston

TITLE
Independent Director
COMPENSATION
$205K
AGE
56
TENURE
2 yrs

Doug Dillard

TITLE
Independent Director
COMPENSATION
$225K
AGE
47
TENURE
1.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
09. May 18 Buy George Dillard Individual 08. May 18 08. May 18 5,000 $112.76 $563,800
04. May 18 Buy W. Battle Individual 03. May 18 03. May 18 1,330 $112.91 $150,170
X
Management checks
We assess Acuity Brands's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Acuity Brands has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

AYI News

Simply Wall St News

Who Has Been Buying Acuity Brands, Inc. (NYSE:AYI) Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in Acuity Brands, Inc. … The Last 12 Months Of Insider Transactions At Acuity Brands. … In total, Acuity Brands insiders bought more than they sold over the last year

Simply Wall St -

If You Had Bought Acuity Brands Stock Three Years Ago, You'd Be Sitting On A 40% Loss, Today

(NYSE:AYI) shareholders, since the share price is down 40% in the last three years, falling well short of the market return of around 50%. … To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. … During the unfortunate three years of share price decline, Acuity Brands actually saw its earnings per share (EPS) improve by 17% per year.

Simply Wall St -

Does Acuity Brands, Inc.'s (NYSE:AYI) 15% Earnings Growth Reflect The Long-Term Trend?

In this article, I will take a look at Acuity Brands, Inc.'s (NYSE:AYI) track record on a high level, to give you some insight into how the company has been performing against its historical trend and its industry peers. … How AYI fared against its long-term earnings performance and its industry … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 17%, indicating the rate at which AYI is growing has slowed down.

Simply Wall St -

Is Acuity Brands, Inc.'s (NYSE:AYI) CEO Salary Justified?

Vernon Nagel has been the CEO of Acuity Brands, Inc. … This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Vernon Nagel's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Calculating The Intrinsic Value Of Acuity Brands, Inc. (NYSE:AYI)

by taking the expected future cash flows and discounting them to their present value. … Discounted Cash Flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model

Simply Wall St -

Why Acuity Brands, Inc. (NYSE:AYI) Is A Financially Healthy Company

Small-caps and large-caps are wildly popular among investors, however, mid-cap stocks, such as Acuity Brands, Inc. … Don’t forget that this is a general and concentrated examination of Acuity Brands's financial health, so you should conduct further analysis. … See our latest analysis for Acuity Brands.

Simply Wall St -

What Is Acuity Brands, Inc.'s (NYSE:AYI) Share Price Doing?

As a mid-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … However, what if the stock is still a bargain. … Today I will analyse the most recent data on Acuity Brands’s outlook and valuation to see if the opportunity still exists

Simply Wall St -

What You Need To Know About Acuity Brands, Inc.’s (NYSE:AYI) Cash Situation

Today we will examine Acuity Brands’s ability to generate cash flows, as well as the level of capital expenditure it is expected to incur over the next couple of years, which will result in how much money goes to you. … Acuity Brands’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure. … The two ways to assess whether Acuity Brands’s FCF is sufficient, is to compare the FCF yield to the market index yield, as well as determine whether the top-line operating cash flows will continue to grow

Simply Wall St -

Is Acuity Brands, Inc. (NYSE:AYI) A High Quality Stock To Own?

Our data shows Acuity Brands has a return on equity of 20% for the last year. … One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.20 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

What Are Analysts Saying About Acuity Brands Inc's (NYSE:AYI) Future?

Acuity Brands Inc's (NYSE:AYI) released its most recent earnings update in August 2018, whicha

Simply Wall St -

AYI Company Info

Description

Acuity Brands, Inc. provides lighting and building management solutions and services for commercial, institutional, industrial, infrastructure, and residential applications in North America and internationally. The company offers lighting and control products and solutions, including recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, underwater, area pedestrian, flood, decorative site, and landscape lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems. It also provides light emitting diode drivers, power supplies, modular wiring, sensors, glass, and inverters, as well as services across applications that primarily relate to monitoring and controlling lighting systems through network technologies and the commissioning of control systems. The company markets its products under the Lithonia Lighting, Holophane, Peerless, Gotham, Mark Architectural Lighting, Winona Lighting, Juno, Indy, Aculux, Healthcare Lighting, Hydrel, American Electric Lighting, Antique Street Lamps, Sunoptics, eldoLED, Distech Controls, nLight, ROAM, Sensor Switch, Power Sentry, IOTA, and Atrius brands. It serves electrical distributors, retail home improvement centers, electric utilities, national accounts, system integrators, utility distributors, value-added resellers, digital retailers, government entities and municipalities, lighting showrooms, developers, original equipment manufacturers, and energy service companies, as well as the new construction, renovation, and maintenance and repair markets. The company sells its products through independent sales agents, electrical distributors, system integrators, and sales representatives, as well as through a network of distribution centers, regional warehouses, and commercial warehouses. Acuity Brands, Inc. was founded in 2001 and is headquartered in Atlanta, Georgia.

Details
Name: Acuity Brands, Inc.
AYI
Exchange: NYSE
Founded: 2001
$4,697,335,500
39,490,000
Website: http://www.acuitybrands.com
Address: Acuity Brands, Inc.
1170 Peachtree Street, N.E.,
Suite 2300,
Atlanta,
Georgia, 30309,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE AYI Common Stock New York Stock Exchange US USD 14. Nov 2001
DB AQ8 Common Stock Deutsche Boerse AG DE EUR 14. Nov 2001
LSE 0H90 Common Stock London Stock Exchange GB USD 14. Nov 2001
Number of employees
Current staff
Staff numbers
13,000
Acuity Brands employees.
Industry
Electrical Components and Equipment
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/24 23:32
End of day share price update: 2019/03/22 00:00
Last estimates confirmation: 2019/03/21
Last earnings filing: 2019/01/09
Last earnings reported: 2018/11/30
Last annual earnings reported: 2018/08/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.