Daktronics

DAKT · Nasdaq · Information Technology · Financials, fiscal 2017 to 2026

DAKT · Last close · November 6, 2026

$19.41

Daktronics' revenue rose 10.9% to $839 million in fiscal 2026. Its operating margin was 7.2%, up from 4.4% a year earlier. Free cash flow was $34 million, down 56.1%. It paid out $26 million in dividends and buybacks, 75% of free cash flow. The diluted share count rose 3.8%.

Daktronics, Inc. Latest fiscal year ended May 2, 2026 10-K filed June 24, 2026 · 0001628280-26-045262 Updated November 6, 2026

Revenue

$839M

10.9%

Operating margin

7.2%

2.9 pts

Net income

$45M

Free cash flow

$34M

56.1%

Return on capital

28.1%

13.9 pts

Market cap

$949M

Nov 6 close

P/E

19.8x

On $0.98 EPS, 4 qtrs

Operating margin is operating income as a share of revenue. Free cash flow is cash from operations minus capital spending. Return on capital is after-tax operating income as a share of the money invested in the business: debt plus equity, minus cash. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.

Charts show fiscal years, from the 10-K filings.

What Daktronics does

Daktronics designs, makes and sells electronic display systems for sports, commercial and transportation uses. Its products range from small scoreboards to large video displays in stadiums and arenas, and many include control, timing and audio systems and software that show live data, graphics and video.

It sells both standard products and custom-designed systems. The company handles marketing and sales, engineering, manufacturing, installation and ongoing customer support itself. Besides equipment and installation, it earns money from technical support, professional services and software that customers use to manage their displays.

Daktronics was founded in 1968 in Brookings, South Dakota, where it is still based, and became publicly traded in 1994. It employs 2,693 people worldwide, with manufacturing, sales and service in several regions.

Its biggest risks, as it describes them

Tariffs and trade policy changes that have affected, and may keep affecting, its results.
Disruptions or shortages in the supply of raw materials and components, and rising costs.
Weak economic conditions, which can lower demand for its display systems.
Reliance on third parties to complete some of its contracts.
Failing to protect its intellectual property, or infringing someone else's.

From Daktronics's annual report on Form 10-K, filed June 24, 2026, in our words; the 10-K has the full description and every risk factor. Updated with each new annual report.

Income statement

Revenue and net income

US$ billions, fiscal years; net losses in red. Revenue on the left axis, net income on the right; zero is the same line on both.

Revenue (left axis)Net income (right axis)

Gross profit, R&D and operating income

US$ billions, fiscal years. Gross profit is revenue minus the cost of what was sold; research and development is one of the costs paid from it; what remains after all operating costs is operating income. Losses in red.

Gross profitResearch and developmentOperating income

Margins

Percent of revenue

GrossOperatingNetFree cash flow

From fiscal 2017 to 2026, earnings per share grew 16.7% a year and net income 17.9% a year, as new shares raised the share count by 12% and diluted each share's earnings.

Diluted earnings per share

US$ per share, fiscal years, restated for any stock splits; loss years in red.

Returns on capital

Return on capital and on equity

Percent. Return on capital is after-tax operating income over the money invested in the business (debt plus equity, minus cash); return on equity is net income over shareholders' equity. Both use the average of opening and closing balances.

Return on capitalReturn on equity

Balance sheet

Cash and debt

US$ billions, at each fiscal year end. Debt includes finance leases.

Cash and short-term investmentsDebt

Assets, liabilities and equity

US$ billions, at each fiscal year end. Assets equal liabilities plus equity; negative equity in red.

Total assetsTotal liabilitiesShareholders' equity

Debt and liquidity ratios

Times. Debt to equity, current assets over current liabilities, and net debt over EBITDA (a full year's).

Debt to equityCurrent ratioNet debt to EBITDA

Five years at a glance

Fiscal year end	FY22	FY23	FY24	FY25	FY26
Cash and short-term investments	21	24	81	128	132
Debt incl. finance leases	—	18	55	12	11
Net debt (negative means net cash)	—	−7	−27	−116	−121
Net debt to EBITDA	—	−0.2x	−0.2x	−2.2x	−1.5x
Debt to equity	—	0.1x	0.2x	0.0x	0.0x
Interest coverage	82.6x	19.0x	25.6x	11.5x	41.6x
Current ratio	1.5x	1.6x	2.1x	2.2x	2.3x
Quick ratio	0.9x	0.9x	1.4x	1.6x	1.7x

US$ millions unless stated, at each fiscal year end. Net debt to EBITDA is debt minus cash, divided by operating income before depreciation and amortization: roughly how many years of those earnings the net debt equals. Debt to equity is debt as a multiple of shareholders' equity. Interest coverage is operating income divided by interest expense. The current ratio is current assets over current liabilities; the quick ratio leaves out inventory.

Cash flow

Cash from operations, capital spending and free cash flow

US$ billions, fiscal years. Free cash flow is cash from operations minus capital spending; negative years in red.

Cash from operationsCapital spendingFree cash flow

Stock-based compensation and buybacks

US$ billions, fiscal years. Shares paid to employees (stock-based compensation, a cost that uses no cash) against cash spent buying shares back. Buybacks that only match it leave the share count roughly where it was.

Stock-based compensationShare buybacks

Dividends and buybacks

US$ billions, cash paid in each fiscal year

DividendsShare buybacks

Diluted share count

Weighted-average diluted shares, millions

Projections

Project Daktronics' revenue, net income and earnings per share five years ahead in a bull, a base and a bear case with your own figures, and see the share prices your P/E estimates give them, or value it with a discounted cash flow model. Every projected figure is yours: it is not a forecast of ours.

Open Daktronics' projections

Insider trades

Over the 12 months between November 7, 2025 and November 6, 2026, 1 insider bought $1,565 of Daktronics shares on the open market, and 2 insiders sold $149,636.

Buys and sells by month

US$ millions, open-market purchases (up) and sales (down) by officers, directors and 10% owners in each month.

BoughtSold

Date	Insider	Trade	Shares	Price	Value	Filing
Jul 17, 2026	Bradley T WiemannExecutive Vice President	Sold	4,000	$19.22	$76,880	Form 4
Jul 1, 2026	Sheila Mae AndersonCdao	Sold	3,636	$20.01	$72,756	Form 4
Apr 30, 2026	Brett David WendlerVP of Design & Development	Bought	98	$15.97	$1,565	Form 4

Open-market purchases and sales by officers, directors and 10% owners, from their Form 4 filings with the SEC: one row per person, day and filing, at the day's average price. Grants, option exercises and shares withheld for tax aren't counted. Insiders buy and sell for many reasons, such as taxes, spreading their savings or a plan set up months earlier, so a trade on its own says little about where a company is heading. For information only, not investment advice. Insider trades at all companies

Indicators

Four widely used measures, worked out from the company's filings. The cutoffs are the ones their authors or users go by, not a verdict of ours.

Indicator	FY24	FY25	FY26
Piotroski F-score	7 of 9	4 of 9	8 of 9
Rule of 40	14.1%	2.8%	15.0%
Altman Z''	5.43	5.24	6.01
Accruals ratio	−5.8%	−20.9%	−0.7%

Piotroski F-score: how many of nine simple tests of profitability, funding and efficiency the company passed in the year (Piotroski, 2000); 8 or 9 is strong, 0 to 2 weak. Rule of 40: revenue growth plus free cash flow margin; software investors treat 40% or more as the bar. Altman Z'': working capital, retained earnings, operating income and equity weighed against assets and liabilities (Altman, 1995); Altman puts above 2.6 in the safe zone and below 1.1 in the distress zone. Accruals ratio: net income minus cash from operations, over average total assets; lower means profit is backed by cash.

The nine F-score tests

Test	FY24	FY25	FY26
Net income is positive	Pass	Fail	Pass
Cash from operations is positive	Pass	Pass	Pass
Return on assets rose	Pass	Fail	Pass
Cash from operations exceeds net income	Pass	Pass	Pass
Debt fell relative to assets	Fail	Pass	Pass
Current ratio rose	Pass	Pass	Pass
Share count didn't rise	Fail	Fail	Fail
Gross margin rose	Pass	Fail	Pass
Revenue rose relative to assets	Pass	Fail	Pass
F-score	7 of 9	4 of 9	8 of 9

Companies that report no gross profit are scored on the other eight.

Compare

Put Daktronics side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.

Similar companies

Company	Year	Revenue growth	Operating margin	Free cash flow margin	Return on capital	Net debt to EBITDA	F-score	Compare
Daktronics	FY26	10.9%	7.2%	4.1%	28.1%	−1.5x	8
Badger Meter	FY25	10.9%	20.0%	18.5%	—	—	—	Compare
Mirion Technologies	FY25	7.5%	5.6%	11.6%	2.3%	0.2x	8	Compare
Novanta	FY25	3.3%	9.6%	4.9%	6.5%	−0.8x	5	Compare
Cognex	FY25	8.7%	16.4%	23.8%	8.4%	−1.7x	7	Compare

Each company's latest fiscal year. Fiscal years end in different months, so the periods don't line up exactly. Free cash flow margin is free cash flow as a share of revenue. Net debt to EBITDA is explained under the balance sheet, and the F-score under Indicators.

10 years of figures

Fiscal year	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Income statement
Revenue	586	610	570	609	482	611	754	818	756	839
Revenue growth	2.9%	4.1%	−6.7%	6.9%	−20.8%	26.8%	23.4%	8.5%	−7.5%	10.9%
Gross profit	140	146	130	139	121	117	151	222	196	229
Research and development	29	36	36	38	27	29	30	36	39	44
Operating income	15	12	−5	−0	17	4	21	87	33	61
Net income	10	6	−1	0	11	1	7	35	−10	45
Diluted EPS (US$)	0.23	0.12	−0.02	0.01	0.24	0.01	0.15	0.74	−0.21	0.92
Diluted shares (millions)	44	45	45	45	45	45	46	46	48	49
Cash flow
Cash from operations	39	30	30	11	66	−27	15	63	98	49
Capital expenditure	8	18	17	18	8	20	25	17	20	15
Free cash flow	31	12	12	−7	58	−47	−10	46	78	34
Dividends paid	14	12	13	9	0	0	0	0	0	0
Share buybacks	2	0	0	6	0	3	0	0	30	26
Acquisitions	0	0	2	0	0	0	0	0	0	0
Stock-based compensation	3	3	2	2	2	2	2	2	3	5
Balance sheet at fiscal year end
Cash and short-term investments	33	30	35	42	78	21	24	81	128	132
Debt incl. finance leases	—	—	—	—	—	—	18	55	12	11
Total assets	355	359	349	373	375	441	468	528	503	554
Total liabilities	157	161	162	196	182	249	267	289	231	254
Shareholders' equity	198	198	188	177	194	192	201	239	272	301
Margins and ratios
Gross margin	23.9%	23.9%	22.9%	22.8%	25.0%	19.1%	20.1%	27.2%	25.8%	27.3%
Operating margin	2.6%	2.0%	−0.8%	−0.0%	3.5%	0.7%	2.8%	10.7%	4.4%	7.2%
Net margin	1.8%	0.9%	−0.2%	0.1%	2.3%	0.1%	0.9%	4.2%	−1.3%	5.4%
Free cash flow margin	5.3%	2.0%	2.2%	−1.2%	12.1%	−7.8%	−1.4%	5.7%	10.3%	4.1%
Rule of 40 (growth + FCF margin)	8.1%	6.1%	−4.5%	5.7%	−8.7%	19.0%	22.1%	14.1%	2.8%	15.0%
Return on capital	—	—	—	—	—	—	—	27.5%	14.2%	28.1%
Return on equity	5.2%	2.8%	−0.5%	0.3%	5.9%	0.3%	3.5%	15.8%	−4.0%	15.8%
Return on assets	2.9%	1.6%	−0.3%	0.1%	2.9%	0.1%	1.5%	7.0%	−2.0%	8.6%
Net debt to EBITDA	—	—	—	—	—	—	−0.2x	−0.2x	−2.2x	−1.5x

US$ millions unless stated. Where a later 10-K restated a year, the latest filed figure is shown. Download all figures (CSV, US$ millions)

Source: Daktronics' Form 10-K filings, from SEC EDGAR. For information only, not investment advice. The Filing Desk is not affiliated with Daktronics.