MeritValue

ACUITY INC. (DE)

AYIdata completeness 100%17 fiscal years on file
i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$3.46B1$4.01B2$3.95B3$3.84B3$4.35B3
Net income$306.3M4$384M5$346M6$422.6M6$396.6M6
Operating cash flow$408.7M7$316.3M8$578.1M9$619.2M9$601.4M9
Capital expenditure$43.8M10$56.5M11$66.7M12$64M12$68.4M12
Free cash flow (derived)$364.9M7$259.8M8$511.4M9$555.2M9$533M9
Total debt$988.6M13$513M14$495.6M15$496.2M16$896.8M16
Cash & equivalents$491.3M17$223.2M18$397.9M19$845.8M20$422.5M20
Diluted shares36.6M34.6M32.2M31.4M31.6M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
You’d own
0.000032%
of the whole company
Your share of last year’s profit
$125.34
Your share of its debt
$283.43
Your share of free cash flow
$168.45
iii. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
$618.44
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth13.5%
  • fcfBase$533M
DCF · Growth Exit 5Y
$420.45
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth13.5%
  • fcfBase$533M
Earnings Power Value
$127.88
assumptions (8)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$384M
  • growthAssumed0.0%
Graham Number
$155.82
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

iv. The price question — last, on purpose
What does today’s price assume?
Type a price. The ledger answers.
Or set your own belief
FCF growth, next 5 years13.5%
Discount rate (WACC)8.78%
Terminal growth2.5%
At your growth, a share is worth $420.45

Default growth 13.5%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.

Sources — the receipts
  1. 10-K · period ending 2021-08-31 · accession 0001144215-23-000090 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2022-08-31 · accession 0001144215-24-000085 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2023-08-31 · accession 0001144215-25-000082 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2021-08-31 · accession 0001144215-23-000090 (NetIncomeLoss)
  5. 10-K · period ending 2022-08-31 · accession 0001144215-24-000085 (NetIncomeLoss)
  6. 10-K · period ending 2023-08-31 · accession 0001144215-25-000082 (NetIncomeLoss)
  7. 10-K · period ending 2021-08-31 · accession 0001144215-23-000090 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2022-08-31 · accession 0001144215-24-000085 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2023-08-31 · accession 0001144215-25-000082 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2021-08-31 · accession 0001144215-23-000090 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2022-08-31 · accession 0001144215-24-000085 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2023-08-31 · accession 0001144215-25-000082 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2021-08-31 · accession 0001144215-22-000097 (LongTermDebtNoncurrent)
  14. 10-K · period ending 2022-08-31 · accession 0001144215-23-000090 (LongTermDebtNoncurrent)
  15. 10-K · period ending 2023-08-31 · accession 0001144215-24-000085 (LongTermDebtNoncurrent)
  16. 10-K · period ending 2024-08-31 · accession 0001144215-25-000082 (LongTermDebtNoncurrent)
  17. 10-K · period ending 2021-08-31 · accession 0001144215-22-000097 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K · period ending 2022-08-31 · accession 0001144215-23-000090 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2023-08-31 · accession 0001144215-24-000085 (CashAndCashEquivalentsAtCarryingValue)
  20. 10-K · period ending 2024-08-31 · accession 0001144215-25-000082 (CashAndCashEquivalentsAtCarryingValue)