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What is Acuity Inc. (DE) worth?

With the base-case assumptions below, a discounted cash flow model on Acuity Inc. (DE)'s reported free cash flow gives $467.40 per share. The share price was $332.59 on November 10, 2026, 29% below that value.

Inputs from the filings

Free cash flow, fiscal 2026
$747.9M
Average free cash flow, last 5 years
$521.5M
Cash
$636.3M
balance sheet of August 31, 2026
Debt
$697.4M
balance sheet of August 31, 2026
Diluted shares, fiscal 2026
31,151,000
Revenue growth per year, last 5 years
6.0%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear1.0%1.5%2.0%10.0%$287.21-14%
Base6.0%4.5%2.5%9.0%$467.40+41%
Bull11.0%7.0%3.0%8.0%$803.78+142%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$597.13$636.73$685.13$745.62$823.40
8.0%$500.33$526.01$556.35$592.77$637.28
9.0%$429.58$447.14$467.40$491.03$518.96
10.0%$375.69$388.17$402.32$418.49$437.15
11.0%$333.30$342.45$352.68$364.19$377.24

Where the presets come from

Base: years 1 to 5 grow at Acuity Inc. (DE)'s revenue growth rate over the last 5 fiscal years (6.0% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Acuity Inc. (DE) company page