olivLaw · US equity research
Daktronics, Inc. DAKT
Miscellaneous Manufacturing Industries · SIC 3990 · Vertical: Miscellaneous Manufacturing Industries (SIC 3990)
Daktronics designs, makes and sells LED display systems for stadiums, live events, outdoor advertising and transportation, supported by control software and services. In the first quarter of fiscal 2027 sales grew 7.1% and the operating margin reached 10.6%, while annual sales reached 838.7 million USD in fiscal 2026.
At the close of 05 Nov 2026, Daktronics, Inc. (DAKT) stock was 19.24 USD (−5.31% on the day), with market capitalisation 925.3 m USD, P/E 19.6 on diluted EPS of 0.98 USD over the last 12 months, dividend yield 0.52%, beta 1.26, 52-week range 17.02–27.73 USD. Latest reported quarter (Q1 2027): revenue of 234.6 m USD (+7.1% YoY), net income of 19.4 m USD (+18.0% YoY), diluted EPS 0.40 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 51.1
- neutral
- Bollinger (20, 2)
- 17.44 – 20.97
- in the upper half of the band · %B 0.51 · band width 18.4%
- SMA 50 / 200
- 18.59 / 20.40
- mixed trend
- MACD (12, 26, 9)
- 0.36 / 0.37
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +7.8% | −5.9% | +13.7 pp | — |
| 3 months | −11.5% | −4.6% | −6.9 pp | — |
| 6 months | −3.8% | +0.2% | −4.1 pp | — |
| Year to date | −2.7% | +7.4% | −10.1 pp | — |
| 1 year | −2.5% | +8.2% | −10.7 pp | −45.6% |
| 3 years | +100.0% | +68.4% | +31.6 pp | −3.3% |
| 5 years | +225.0% | +56.5% | +168.5 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q1 2027 · 01 Aug 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 208.3 m | 149.5 m | 172.6 m | 219.0 m | 229.3 m | 181.9 m | 208.6 m | 234.6 m |
| Cost of revenue | 152.5 m | 112.7 m | 129.4 m | 153.9 m | 167.4 m | 138.2 m | 150.1 m | 163.0 m |
| Gross profit | 55.9 m | 36.8 m | 43.1 m | 65.1 m | 61.8 m | 43.6 m | 58.5 m | 71.6 m |
| Research & development | 9.8 m | 9.4 m | 10.0 m | 10.7 m | 10.4 m | 10.5 m | 11.8 m | 12.1 m |
| Operating income | 15.8 m | -3.6 m | -1.7 m | 23.3 m | 21.6 m | 1.9 m | 14.1 m | 24.9 m |
| Depreciation & amortisation | 4.9 m | 4.9 m | 4.8 m | 4.8 m | 4.8 m | 5.2 m | 4.6 m | 4.7 m |
| Pre-tax income | 25.2 m | -17.8 m | -13.4 m | 22.2 m | 21.9 m | 3.5 m | 10.7 m | 25.7 m |
| Income tax | 3.8 m | -660.0 k | -4.0 m | 5.8 m | 4.4 m | 502.0 k | 2.3 m | 6.2 m |
| Net income | 21.4 m | -17.2 m | -9.4 m | 16.5 m | 17.5 m | 3.0 m | 8.4 m | 19.4 m |
| Diluted EPS | 0.22 | -0.36 | -0.19 ≈ | 0.33 | 0.35 | 0.06 | 0.17 ≈ | 0.40 |
| Operating cash flow | 43.3 m ≈ | 12.0 m ≈ | 22.9 m | 26.1 m | 16.5 m ≈ | 11.7 m ≈ | -5.1 m | 31.4 m |
| Capex | 5.4 m ≈ | 4.2 m ≈ | 4.8 m | 4.3 m | 2.5 m ≈ | 3.6 m ≈ | 4.5 m | 4.1 m |
| Share repurchases | 0 ≈ | 9.0 m ≈ | 20.5 m | 10.7 m | 1.6 m ≈ | 10.6 m ≈ | 2.8 m | 4.4 m |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 13 percentile of its own 31-quarter history (min 7.8, median 41.8, max 678.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 569.7 m | 608.9 m | 482.0 m | 611.0 m | 754.2 m | 818.1 m | 756.5 m | 838.7 m |
| Revenue YoY | −6.7% | +6.9% | −20.8% | +26.7% | +23.4% | +8.5% | −7.5% | +10.9% |
| Net income | -958.0 k | 491.0 k | 10.9 m | 592.0 k | 6.8 m | 34.6 m | -10.1 m | 45.4 m |
| Net income YoY | −117.2% | unavailable | +2,125.3% | −94.6% | +1,049.0% | +409.0% | −129.2% | unavailable |
| Diluted EPS | -0.02 | 0.01 | 0.24 | 0.01 | 0.15 | 0.74 | -0.21 | 0.92 |
| Diluted EPS YoY | −116.7% | unavailable | +2,300.0% | −95.8% | +1,400.0% | +393.3% | −128.4% | unavailable |
| net % | -0.2% | 0.1% | 2.3% | 0.1% | 0.9% | 4.2% | -1.3% | 5.4% |
| Free cash flow | 12.3 m | -7.3 m | 58.3 m | -47.4 m | -10.4 m | 46.3 m | 78.2 m | 34.3 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 02 May 2026
- Cash
- 131.6 m USD
- Financial debt
- 10.8 m USD
- Net debt
- -120.9 m USD
- Equity
- 300.7 m USD
- Total assets
- 554.4 m USD
- Debt / equity
- 0.04x
- Current ratio
- 2.31x
- ROE
- 15.8%
- ROA
- 8.6%
- FCF margin
- 4.1%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 482.0 m | 611.0 m | 754.2 m | 818.1 m | 756.5 m | 838.7 m | SEC (XBRL)· 24 Jun 2026verified |
| Cost of revenue | 361.5 m | 494.3 m | 602.8 m | 595.6 m | 561.0 m | 609.7 m | SEC (XBRL)· 24 Jun 2026verified |
| Gross profit | 120.6 m | 116.7 m | 151.4 m | 222.4 m | 195.5 m | 229.0 m | SEC (XBRL)· 24 Jun 2026verified |
| Research & development | 26.8 m | 29.0 m | 30.0 m | 35.7 m | 38.9 m | 43.5 m | SEC (XBRL)· 24 Jun 2026verified |
| Operating income | 17.1 m | 4.0 m | 21.4 m | 87.1 m | 33.1 m | 60.8 m | SEC (XBRL)· 24 Jun 2026verified |
| Depreciation & amortisation | 17.1 m | 15.4 m | 17.0 m | 19.3 m | 19.5 m | 19.3 m | SEC (XBRL)· 24 Jun 2026verified |
| EBITDA | 34.2 m ≈ | 19.4 m ≈ | 38.4 m ≈ | 106.4 m ≈ | 52.7 m ≈ | 80.2 m ≈ | SEC (XBRL)· 24 Jun 2026derived |
| Interest expense | 295.0 k | 49.0 k | 1.1 m | 3.4 m | 2.9 m | 1.5 m | SEC (XBRL)· 24 Jun 2026verified |
| Pre-tax income | 14.1 m | 1.1 m | 13.3 m | 54.1 m | -5.9 m | 58.3 m | SEC (XBRL)· 24 Jun 2026verified |
| Income tax | 3.1 m | 516.0 k | 6.5 m | 19.4 m | 4.3 m | 13.0 m | SEC (XBRL)· 24 Jun 2026verified |
| Net income | 10.9 m | 592.0 k | 6.8 m | 34.6 m | -10.1 m | 45.4 m | SEC (XBRL)· 24 Jun 2026verified |
| Diluted EPS | 0.24 | 0.01 | 0.15 | 0.74 | -0.21 | 0.92 | SEC (XBRL)· 24 Jun 2026verified |
| Weighted average diluted shares | 45.2 m | 45.3 m | 45.5 m | 46.5 m | 47.6 m | 49.4 m | SEC (XBRL)· 24 Jun 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 77.6 m | 17.1 m | 24.0 m | 81.3 m | 127.5 m | 131.6 m | SEC (XBRL)· 24 Jun 2026verified |
| Receivables | 67.8 m | 101.1 m | 110.0 m | 117.2 m | 92.8 m | 118.6 m | SEC (XBRL)· 24 Jun 2026verified |
| Inventories | 74.4 m | 134.4 m | 149.4 m | 138.0 m | 105.8 m | 110.5 m | SEC (XBRL)· 24 Jun 2026verified |
| Current assets | 265.0 m | 317.6 m | 342.7 m | 401.9 m | 381.5 m | 448.0 m | SEC (XBRL)· 24 Jun 2026verified |
| Property, plant & equipment, net | 58.7 m | 66.8 m | 72.1 m | 71.8 m | 73.9 m | 64.3 m | SEC (XBRL)· 24 Jun 2026verified |
| Goodwill | 8.4 m | 7.9 m | 3.2 m | 3.2 m | 3.2 m | 3.7 m | SEC (XBRL)· 24 Jun 2026verified |
| Intangibles (excl. goodwill) | 2.1 m | 1.5 m | 1.1 m | 840.0 k | 568.0 k | 3.3 m | SEC (XBRL)· 24 Jun 2026verified |
| Total assets | 375.2 m | 440.9 m | 468.1 m | 527.9 m | 502.9 m | 554.4 m | SEC (XBRL)· 24 Jun 2026verified |
| Accounts payable | 40.3 m | 76.3 m | 67.5 m | 60.8 m | 46.7 m | 68.6 m | SEC (XBRL)· 24 Jun 2026verified |
| Short-term debt | — | — | 0 | 1.5 m | 1.5 m | 1.2 m | SEC (XBRL)· 24 Jun 2026verified |
| Long-term debt | — | — | 17.8 m | 53.2 m | 10.5 m | 9.6 m | SEC (XBRL)· 24 Jun 2026verified |
| Current liabilities | 146.6 m | 213.7 m | 210.2 m | 192.3 m | 172.0 m | 193.7 m | SEC (XBRL)· 24 Jun 2026verified |
| Equity | 193.6 m † | 191.6 m † | 200.9 m † | 238.8 m † | 271.9 m † | 300.7 m † | SEC (XBRL)· 24 Jun 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 66.2 m | -27.0 m | 15.0 m | 63.2 m | 97.7 m | 49.2 m | SEC (XBRL)· 24 Jun 2026verified |
| Capex | 7.9 m | 20.4 m | 25.4 m | 17.0 m | 19.5 m | 14.9 m | SEC (XBRL)· 24 Jun 2026verified |
| Free cash flow | 58.3 m ≈ | -47.4 m ≈ | -10.4 m ≈ | 46.3 m ≈ | 78.2 m ≈ | 34.3 m ≈ | SEC (XBRL)· 24 Jun 2026derived |
| Investing cash flow | -10.2 m | -31.4 m | -25.4 m | -21.3 m | -23.8 m | -19.6 m | SEC (XBRL)· 24 Jun 2026verified |
| Financing cash flow | -15.6 m | -3.6 m | 17.6 m | 15.1 m | -27.4 m | -26.2 m | SEC (XBRL)· 24 Jun 2026verified |
| Dividends paid | 0 | 0 | — | — | — | — | SEC (XBRL)· 16 Jun 2022verified |
| Share repurchases | 0 | 3.2 m | 0 | 0 | 29.5 m | 25.6 m | SEC (XBRL)· 24 Jun 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 70 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 925.3 m USD
Key indicators
Coverage and freshness
Score by group
- Returns30
- Growth65
- Balance sheet100
- Valuation50
- Quality83
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 2.63 – 19.76 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)14.02 – 19.76 (Mid 16.26)WACC 9.2% · starting FCFF 40.9 m USD · terminal value share of EV 73%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 12.8%
- Peers: EV/EBITDAunavailable · not enough peers
- Peers: P/Eunavailable · not enough peers
- Dividend discount (DDM)2.63 – 3.53 (Mid 3.01)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 70/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 29.8% | 100 (on a fixed band) | 11% |
| Net margin · Quality | 5.7% | 63 (vs peers) | 7% |
| FCF conversion · Quality | 82.3% | 75 (on a fixed band) | 7% |
| Revenue CAGR 3Y · Growth | 3.6% | 30 (on a fixed band) | 9% |
| EPS CAGR 3Y · Growth | 83.0% | 100 (on a fixed band) | 9% |
| Net debt / EBITDA · Balance sheet | -1.8x | 100 (on a fixed band) | 11% |
| Interest coverage · Balance sheet | 42.7x | 100 (on a fixed band) | 7% |
| Current ratio · Balance sheet | 2.2x | 100 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 19.6x | 47 (on a fixed band) | 11% |
| EV/EBITDA · Valuation | 9.6x | 49 (on a fixed band) | 11% |
| FCF yield · Valuation | 4.3% | 54 (on a fixed band) | 9% |
| Shareholder yield (distributions) · Returns | 2.1% | 30 (on a fixed band) | 7% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet100/100 · 3/3 factors with a value
- Growth65/100 · 2/2 factors with a value
- Quality83/100 · 3/3 factors with a value
- Returns· partial30/100 · 1/2 factors with a value
- Valuation50/100 · 3/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Daktronics, Inc. (DAKT). Latest full fiscal year: 2026; data up to 2026-08-01.
Figures computed from the financial statements: revenue 838.7 m USD in 2026; YoY growth 10.9%; net margin 5.7%; ROE 16.2%; net debt/EBITDA -1.8x.
The estimated value range is 8.32–11.65 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 9.64 USD, the price of 19.24 USD leaves a potential of -49.9% (value / price − 1) and a margin of safety of -99.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 70/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 29.8%
- FCF conversion: 82.3%
- EPS CAGR 3Y: 83.0%
- Net debt / EBITDA: -1.8x
- Interest coverage: 42.7x
- Current ratio: 2.2x
What contradicts it
- Shareholder yield (distributions): 2.1%
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): Payout ratio (FCF).
Versus the vertical median
Miscellaneous Manufacturing Industries (SIC 3990) · same industry (4-digit SIC) · compared with 9 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AMCRAmcor PLC | 21.2 bn | 19.6 | 9.3% | 4.5% | +56.6% | +8% / −3% |
| DAKTDaktronics, Inc. | 925.3 m | 19.6 | 16.2% | 5.7% | +10.9% | −3% / +100% |
| HCAIHuachen AI Parking Management Technology Holding Co., Ltd | 85.8 m | — | -402.1% | -642.6% | −83.9% | −75% / unavailable |
| MWGMulti Ways Holdings Limited | 44.3 m | — | -2.0% | -1.0% | +44.1% | −51% / −53% |
| VTSIVirTra, Inc. | 30.6 m | — | -6.1% | — | unavailable | −46% / −63% |
| DOGZDogness (International) Corporation | 8.7 m | — | -32.0% | -173.9% | −23.3% | −95% / −81% |
| JCSEJe Cleantech Holdings Limited | 8.1 m | 3.2 | 18.3% | 15.9% | +11.8% | +36% / +66% |
| WFFWF Holding Ltd | 5.7 m | — | -127.3% | -64.4% | +61.9% | −63% / unavailable |
| ODCOil-Dri Corporation of America | — | — | 20.5% | 11.5% | +1.7% | +26% / +142% |
| BRCBrady Corp | — | — | 16.1% | 12.4% | +9.8% | +2% / +42% |
1- and 3-year price returns: for DAKT from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 11.54 Total return -40% · Per year -40% | 20.40 Total return 6% · Per year 6% | 30.74 Total return 60% · Per year 60% |
| 3 years | 10.99 Total return -43% · Per year -17% | 21.90 Total return 14% · Per year 4% | 36.26 Total return 88% · Per year 24% |
| 5 years | 10.48 Total return -46% · Per year -11% | 23.51 Total return 22% · Per year 4% | 42.77 Total return 122% · Per year 17% |
- Exit P/E± 5.47
- Net margin± 3.83
- Annual revenue growth± 3.17
- Annual dilution± 0.32
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Daktronics designs, makes and sells LED display systems for stadiums, live events, outdoor advertising and transportation, supported by control software and services. In the first quarter of fiscal 2027 sales grew 7.1% and the operating margin reached 10.6% 3, while annual sales reached 838.7 million USD in fiscal 2026 1.
SWOT
Strengths
- The company holds a leading position in large display systems and control software, with an integrated model from design to maintenance 13.
- Product backlog has stayed above the 300 million USD threshold for six consecutive quarter-ends, giving some visibility on activity 3.
- Cash balances are solid, and the company has funded investment and share repurchases from operating cash flow 3.
Weaknesses
- Reliance on imported electronic components, including from China and Taiwan, exposes the company to disruptions and volatile costs 1.
- The project-based model produces uneven orders, and revenue can fluctuate considerably from quarter to quarter 1.
- The company has reported net losses in past years, and margins have been affected by tariffs and input costs 1.
Opportunities
- Expansion into new vertical markets, software services and micro-LED displays could support growth in recurring revenue 3.
- The Mexico facility could lower production costs and tariff exposure if it reaches its planned capacity 13.
- Acquisitions in complementary products and markets, which the company says it is evaluating, could accelerate organic growth 3.
Threats
- New tariffs or changes in trade policy could cut margins and reduce demand from government-funded projects 12.
- Competitors with greater resources or cheaper production could win contracts with more aggressive pricing 1.
- An economic slowdown or geopolitical tensions could delay customer decisions and large projects 1.
Risks
- Tariffs and trade policyhigh
Shifting tariffs and uncertain refunds could affect costs, margins and customers' willingness to sign contracts 12.
- Supplier dependencehigh
Semiconductor components come mainly from Taiwan and China; an interruption could halt production until an alternative source is found 1.
- Concentration in large projectsmedium
Orders depend on a few large contracts, and a delay in one of them can noticeably change quarterly results, as seen in the first quarter of fiscal 2027 3.
- Component costsmedium
Higher prices for memory and other price-sensitive inputs could compress gross margin 3.
- Operational executionlow
The ramp-up of the Mexico plant and efficiency initiatives could take longer or cost more than planned 13.
Investment thesis
What would need to be true (bull case)
- If sales and operating margin growth continue, the company could reach the three-year targets it set for fiscal 2028 3.
- A steady backlog and operating cash flow give the company room for investment and share repurchases 3.
- Adoption of LED and micro-LED technology and growth in software services could build recurring revenue over time 13.
What would break the thesis
- If tariffs stay high or rise, margins could remain under pressure and public-sector customers could cut spending 12.
- The project-based nature of the business makes quarterly results hard to predict, and a slip in large contracts could distort year-on-year comparisons 3.
- Competition from lower-cost producers could limit the prices the company can charge 1.
What to watch
- Booking of the large orders expected in the second quarter and the level of backlogQ2 2027
- Amount and timing of tariff refunds and their effect on gross margin2027
- Ramp-up of production in Mexico and its effect on costs2027
- Progress toward the three-year targets for fiscal 2028next 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Daktronics, founded in 1968 in Brookings, South Dakota, and publicly traded since 1994, runs a vertically integrated model covering sales, engineering, manufacturing, installation and customer support 1. Its portfolio ranges from small scoreboards to large video systems for stadiums and arenas, and it offers control software such as the Venus Control Suite 1. The company employs 2,693 people globally 1.
The service business includes technical support, professional services and software solutions that can produce recurring revenue over the life of installed systems 12. The company also acts as a technical contractor for large installations and holds general contractor licences in many jurisdictions 1.
Most products are made in the United States, in South Dakota and Minnesota, with plants in China and Ireland, and a Mexico facility was planned to start production in fiscal 2027 13. This setup adds flexibility but also exposes the company to import costs and global supply chains 1.
Segments
Domestic and international units
The company reports five segments: four domestic units (Commercial, Live Events, High School Park and Recreation, Transportation) covering the US and Canada, plus an International unit 1. In the first quarter of fiscal 2027 sales growth was led by the Transportation, Live Events and International units 3.
Fuel price and outdoor digital signage
The Fuelight fuel-price displays and outdoor digital signage, including street furniture, complete the portfolio and extend digital advertising into closer-viewing locations 1.
Market context
The digital display market keeps expanding, supported by customer spending in sports, advertising, transport and public infrastructure and by the shift from static to digital signs 1. The company describes its target markets as large and growing, though timing and adoption depend on economic conditions and customer funding 1.
Order growth in fiscal 2026 was supported by large projects at professional sports venues, transport systems and international demand, but orders remain sensitive to the timing of individual projects 1.
Trends
- Tariffsheadwind
US tariffs on electronic components, steel, aluminium and copper have raised costs and weighed on margins; the company has filed refund claims for tariffs struck down by the courts, but the amount and timing remain uncertain 12. If tariffs stay high or rise, cost pressure could continue.
- Tariff refundsmixed
In the first quarter of fiscal 2027 the gross margin included tariff refunds received, so a one-time benefit of this kind might not recur 3. The company recognises refunds only when they are received 2.
- Adoption of LED and micro-LEDtailwind
Narrow pixel pitch and micro-LED technologies are increasing demand for higher-performance displays, and the company is investing in this area and in its control software 13.
- Project-driven demandmixed
Because the business is project-based, orders can swing from quarter to quarter; orders in the first quarter of fiscal 2027 fell year over year, with several large transactions expected to be booked in the second quarter 3.
Competitive position
The company describes a highly competitive market in which rivals offer lower-cost or lower-featured products, some have greater financial resources and some pursue acquisitions 1. Its products also compete with television, print, digital and fixed display signs for advertising budgets 1.
Some competitors use sponsorships to win business at particular venues, and rivals that produce outside the US or qualify for tariff exemptions could hold a cost advantage 1.
- Asian LED display manufacturers
Producers outside the United States that can offer lower prices, noted among the company's competitive risks 1.
- Outdoor digital advertising display suppliers
Companies competing in the billboard and outdoor digital display segment where the company is active 1.
- Audiovisual integrators and resellers
Partners that also compete directly for projects, particularly outside North America 1.
- Other sports display technology providers
Competitors in stadium and arena systems that may have greater resources to adapt quickly to customer requirements 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- Daktronics (DAKT) Just Posted Its Best Quarter In YearsYahoo Finance — News · 11 Sept 2026 · EN
- Strong Q1 Cash Flows Mask Order Softness for Daktronics (DAKT)Yahoo Finance — News · 09 Sept 2026 · EN
- Daktronics (DAKT) Q1 2027 Earnings Call TranscriptYahoo Finance — News · 09 Sept 2026 · EN
- Diamond Hill Sees Daktronics (DAKT) as a Turnaround Opportunity With a Strong Balance SheetYahoo Finance — News · 04 Sept 2026 · EN
- Daktronics Says SEC, NBA Seek Information on Kawhi LeonardYahoo Finance — News · 02 Sept 2026 · EN
- Daktronics, Inc. Q1 2027 Earnings Call SummaryYahoo Finance — News · 02 Sept 2026 · EN
- SEC investigating Daktronics in Kawhi Leonard caseThe Hill · 02 Sept 2026 · EN
The latest news item in our archive is from 11 Sept 2026; the newest SEC filing is from 14 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report14 Oct 2026Exit or disposal costs · Material impairment · Other events · Financial statements and exhibits
- Current report18 Sept 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
- Current report11 Sept 2026Departure or appointment of officers · Financial statements and exhibits
- Quarterly report02 Sept 2026
- Current report02 Sept 2026Material agreement · Results of operations · Departure or appointment of officers · Regulation FD disclosure · Other events · Financial statements and exhibits
- Proxy statement28 Jul 2026
- Current report17 Jul 2026Departure or appointment of officers
- Annual report24 Jun 2026
- Current report24 Jun 2026Results of operations · Regulation FD disclosure · Other events · Financial statements and exhibits
- Current report21 May 2026Departure or appointment of officers · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2026-05-02 · SEC / Daktronics, Inc. · 24 Jun 2026
- [2] Form 10-Q, quarter ended 2026-08-01 · SEC / Daktronics, Inc. · 02 Sept 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Daktronics, Inc. · 02 Sept 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.