LSI Industries Inc. (LYTS)

Industry: Hardware, Equipment & Parts Model: Peers Multiples Valuation

Valuation Snapshot

Ticker	Rank	Name	Rev TTM (M)	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
002636.SZ	207	Goldenmax Internat	618	80.67	81.80	48.74	52.27	18.37	223.74
300219.SZ	208	Hongli Zhihui Grou	615	79.93	79.93	67.65	61.84	27.41	118.62
0NNU.L	209	Nedap N.V.	604	12.37	11.62	6.93	6.25	8.92	8.76
SVI.BK	210	SVI Public Company	602	14.89	14.02	10.15	9.72	10.00	13.02
603186.SS	211	Zhejiang Wazam New	600	-	-	188.02	249.10	86.80	-
1305.HK	212	Wai Chi Holdings C	595	1.98	2.15	1.54	1.56	3.19	3.79
HANZA.ST	213	Hanza AB (publ)	593	23.19	23.19	10.26	7.56	17.68	11.04
LYTS	214	LSI Industries Inc	593	28.80	22.40	15.24	12.19	17.45	15.11
3715.TW	215	Dynamic Holding Co	590	13.22	12.86	6.82	5.80	15.11	16.98
HEXA-B.ST	216	Hexagon AB (publ)	585	24.21	22.16	13.66	12.16	21.25	18.17
8215.TW	217	BenQ Materials Cor	584	54.01	58.58	10.97	10.14	-	64.00
2456.TW	218	Chilisin Electroni	571	20.45	17.96	8.23	6.91	15.46	12.43
METCO.BK	219	Muramoto Electron	562	4.20	3.12	1.00	0.81	1.08	0.87
6120.TW	220	Darwin Precisions	561	48.68	48.68	2.55	2.55	-	-
603328.SS	221	Guangdong Ellingto	559	26.81	24.41	21.32	20.23	25.74	22.82
002414.SZ	222	Wuhan Guide Infrar	558	623.91	973.57	96.19	107.45	29.12	179.06

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	21.82	20.06	10.15	7.56	15.46	13.02
Full Range Median Multiple	23.70	22.67	10.26	9.72	17.68	16.98
Industry Multiple	73.47	98.15	32.94	36.96	21.55	53.33
Market Implied Multiple	24.21	18.83	12.96	10.36	14.85	12.85
Company (LYTS) Multiple	28.80	22.40	15.24	12.19	17.45	15.11
(*) Net Income / EBITDA / Revenue	25	32	50	63	44	51
Winsorized Enterprise Value	N/A	N/A	510	475	679	660
Full Range Median Enterprise Value	N/A	N/A	515	611	776	861
(-) Net Debt	47	47	47	47	47	47
Winsorized Equity Value	545	644	463	428	631	613
Full Range Median Equity Value	592	728	468	564	729	814
(/) Shares Outstanding	30	30	30	30	30	30
Winsorized Fair Value	$17.89	$21.15	$15.20	$14.07	$20.74	$20.13
Full Range Median Fair Value	$19.43	$23.90	$15.38	$18.53	$23.94	$26.73
Current Price	$19.85	$19.85	$19.85	$19.85	$19.85	$19.85
Upside / Downside	-9.89%	6.53%	-23.42%	-29.14%	4.47%	1.41%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$12.52	$14.80	$10.64	$9.85	$14.52	$14.09
Buy / Don't Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy