Lakeland Inds Financials
This page shows Lakeland Inds (LAKE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Lakeland’s sales growth is being overwhelmed by thinner gross margins and cash tied up in working capital.
By FY2026, operating cash flow was-$15.8M even with revenue at$192.6M , showing that added sales were not arriving as cash. Because gross margin stepped down from FY2024 while inventory and receivables expanded, the business appears to be funding growth through the balance sheet rather than through internally generated cash.
The sharp change is not just a volume story: by FY2026 gross margin had fallen to
Liquidity still looks serviceable on paper with a current ratio of 3.5x, but cash on hand shrank to
Financial Health Signals
Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Lakeland Inds's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Lakeland Inds has an operating margin of -8.1%, meaning the company retains $-8 of operating profit per $100 of revenue. This below-average margin results in a low score of 12/100, suggesting thin profitability after operating expenses. This is down from -5.5% the prior year.
Lakeland Inds's revenue surged 15.2% year-over-year to $192.6M, reflecting rapid business expansion. This strong growth earns a score of 74/100.
Lakeland Inds carries a low D/E ratio of 0.24, meaning only $0.24 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 97/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.53, Lakeland Inds holds $3.53 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 69/100.
While Lakeland Inds generated -$15.8M in operating cash flow, capex of $671K consumed most of it, leaving -$16.4M in free cash flow. This results in a low score of 10/100, reflecting heavy capital investment rather than weak cash generation.
Lakeland Inds generates a -19.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -12.6% the prior year.
Lakeland Inds passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Lakeland Inds generates $0.62 in operating cash flow (-$15.8M OCF vs -$25.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Lakeland Inds earns $-7.2 in operating income for every $1 of interest expense (-$15.5M vs $2.1M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Lakeland Inds generated $192.6M in revenue in fiscal year 2026. This represents an increase of 15.2% from the prior year.
Lakeland Inds's EBITDA was -$12.7M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 90.7% from the prior year.
Lakeland Inds reported -$25.3M in net income in fiscal year 2026. This represents a decrease of 40.0% from the prior year.
Lakeland Inds earned $-2.63 per diluted share (EPS) in fiscal year 2026. This represents a decrease of 8.2% from the prior year.
Cash & Balance Sheet
Lakeland Inds generated -$16.4M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 5.7% from the prior year.
Lakeland Inds held $12.5M in cash against $30.4M in long-term debt as of fiscal year 2026.
Lakeland Inds had 10M shares outstanding in fiscal year 2026. This represents an increase of 3.6% from the prior year.
Margins & Returns
Lakeland Inds's gross margin was 32.9% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is down 8.2 percentage points from the prior year.
Lakeland Inds's operating margin was -8.1% in fiscal year 2026, reflecting core business profitability. This is down 2.5 percentage points from the prior year.
Lakeland Inds's net profit margin was -13.1% in fiscal year 2026, showing the share of revenue converted to profit. This is down 2.3 percentage points from the prior year.
Lakeland Inds's ROE was -19.6% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 7.0 percentage points from the prior year.
Capital Allocation
Lakeland Inds invested $671K in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents a decrease of 56.4% from the prior year.
LAKE Income Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $45.8M-3.7% | $47.6M-9.4% | $52.5M+12.3% | $46.7M+0.3% | $46.6M+1.9% | $45.8M+18.8% | $38.5M+6.1% | $36.3M |
| Cost of Revenue | $31.1M-7.1% | $33.5M-0.7% | $33.7M+8.3% | $31.1M+11.3% | $27.9M+2.7% | $27.2M+16.9% | $23.3M+15.7% | $20.1M |
| Gross Profit | $14.7M+4.2% | $14.1M-24.9% | $18.8M+20.3% | $15.6M-16.3% | $18.7M+0.7% | $18.6M+21.8% | $15.2M-5.9% | $16.2M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | -$5.2M-221.5% | -$1.6M+59.9% | -$4.0M+12.8% | -$4.6M+56.6% | -$10.7M-1423.8% | $807K+150.7% | -$1.6M-172.3% | $2.2M |
| Interest Expense | $617K+22.9% | $502K+12.8% | $445K-23.7% | $583K-5.7% | $618K+26.1% | $490K+32.4% | $370K+115.1% | $172K |
| Income Tax | $356K-97.4% | $13.7M+362.1% | -$5.2M-335.3% | -$1.2M-202.5% | -$396K-369.4% | $147K+135.0% | -$420K-208.2% | $388K |
| Net Income | -$6.2M+61.1% | -$16.0M-2182.9% | $766K+119.6% | -$3.9M+78.8% | -$18.4M-21539.5% | $86K+106.3% | -$1.4M-183.2% | $1.7M |
| EPS (Diluted) | N/A | $-1.64-2150.0% | $0.08+119.5% | $-0.41 | N/A | $0.01+105.3% | $-0.19-186.4% | $0.22 |
LAKE Balance Sheet
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $209.9M-4.9% | $220.7M-2.5% | $226.3M+3.7% | $218.1M+2.6% | $212.5M+5.6% | $201.2M+1.4% | $198.4M+15.7% | $171.5M |
| Current Assets | $134.2M-6.4% | $143.3M-2.5% | $147.1M+4.5% | $140.7M+3.1% | $136.5M+9.0% | $125.3M-2.5% | $128.5M+13.0% | $113.8M |
| Cash & Equivalents | $12.5M-27.2% | $17.2M-3.1% | $17.7M-4.7% | $18.6M+6.5% | $17.5M+10.3% | $15.8M-36.3% | $24.9M-12.3% | $28.4M |
| Inventory | $82.5M-6.1% | $87.9M-2.6% | $90.2M+5.1% | $85.8M+3.7% | $82.7M+13.8% | $72.7M+7.1% | $67.9M+21.1% | $56.1M |
| Accounts Receivable | $32.0M+5.8% | $30.3M-2.1% | $30.9M+12.0% | $27.6M+0.1% | $27.6M+3.9% | $26.6M+15.8% | $22.9M+5.4% | $21.8M |
| Goodwill | $15.3M-13.1% | $17.6M+16.9% | $15.0M-11.9% | $17.1M+5.2% | $16.2M-27.5% | $22.4M+10.3% | $20.3M+33.4% | $15.2M |
| Total Liabilities | $80.8M-6.3% | $86.2M+9.1% | $79.0M+5.7% | $74.7M+13.4% | $65.9M-13.9% | $76.5M+3.8% | $73.7M+58.8% | $46.4M |
| Current Liabilities | $38.0M+1.4% | $37.5M-6.9% | $40.2M+10.9% | $36.3M+3.9% | $34.9M+17.8% | $29.6M-2.3% | $30.3M+43.8% | $21.1M |
| Long-Term Debt | $30.4M | N/A | N/A | N/A | $16.4M | N/A | $2.9M | N/A |
| Total Equity | $129.1M-4.0% | $134.5M-8.7% | $147.3M+2.7% | $143.4M-2.2% | $146.6M+17.6% | $124.7M0.0% | $124.7M-0.3% | $125.1M |
| Retained Earnings | $23.9M-21.4% | $30.4M-34.9% | $46.6M+1.0% | $46.1M-8.3% | $50.3M-27.1% | $69.0M-0.2% | $69.1M-2.3% | $70.7M |
LAKE Cash Flow Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.8M+123.2% | -$7.9M-64.6% | -$4.8M+0.5% | -$4.8M-42.9% | -$3.4M+59.9% | -$8.4M-94.2% | -$4.3M-1583.3% | $293K |
| Capital Expenditures | -$113K+91.6% | -$1.3M-246.1% | $921K-23.8% | $1.2M+2098.2% | $55K-91.4% | $643K+71.0% | $376K-19.3% | $466K |
| Free Cash Flow | $1.7M+118.6% | -$9.3M-61.6% | -$5.7M+5.1% | -$6.0M-75.8% | -$3.4M+62.1% | -$9.1M-92.4% | -$4.7M-2629.5% | -$173K |
| Investing Cash Flow | $113K-86.4% | $833K+190.4% | -$921K+23.8% | -$1.2M+94.6% | -$22.4M-2238.4% | -$956K+93.7% | -$15.2M-64.2% | -$9.2M |
| Financing Cash Flow | -$5.9M-179.0% | $7.5M+206.2% | $2.4M-71.4% | $8.5M-70.0% | $28.3M+2255.5% | $1.2M-92.2% | $15.5M+33.5% | $11.6M |
| Dividends Paid | $294K+2.4% | $287K+0.3% | $286K+0.4% | $285K+27.8% | $223K+0.5% | $222K+0.5% | $221K0.0% | $221K |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
LAKE Financial Ratios
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.1%+2.5pp | 29.7%-6.2pp | 35.9%+2.4pp | 33.5%-6.6pp | 40.1%-0.5pp | 40.6%+1.0pp | 39.6%-5.0pp | 44.6% |
| Operating Margin | -11.4%-8.0pp | -3.4%+4.3pp | -7.7%+2.2pp | -9.9%+13.0pp | -22.9%-24.7pp | 1.8%+5.9pp | -4.1%-10.2pp | 6.1% |
| Net Margin | -13.6%+20.0pp | -33.5%-35.0pp | 1.5%+9.8pp | -8.4%+31.2pp | -39.5%-39.7pp | 0.2%+3.8pp | -3.6%-8.1pp | 4.5% |
| Return on Equity | -4.8%+7.1pp | -11.9%-12.4pp | 0.5%+3.3pp | -2.7%+9.8pp | -12.6%-12.6pp | 0.1%+1.2pp | -1.1%-2.4pp | 1.3% |
| Return on Assets | -3.0%+4.3pp | -7.2%-7.6pp | 0.3%+2.1pp | -1.8%+6.9pp | -8.7%-8.7pp | 0.0%+0.7pp | -0.7%-1.7pp | 1.0% |
| Current Ratio | 3.53-0.3 | 3.83+0.2 | 3.66-0.2 | 3.88-0.0 | 3.91-0.3 | 4.230.0 | 4.24-1.2 | 5.39 |
| Debt-to-Equity | 0.24-0.4 | 0.64+0.1 | 0.54+0.0 | 0.52+0.4 | 0.11-0.5 | 0.61+0.6 | 0.02-0.3 | 0.37 |
| FCF Margin | 3.8%+23.3pp | -19.5%-8.6pp | -10.9%+2.0pp | -12.9%-5.6pp | -7.4%+12.5pp | -19.9%-7.6pp | -12.3%-11.8pp | -0.5% |
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Frequently Asked Questions
What is Lakeland Inds's annual revenue?
Lakeland Inds (LAKE) reported $192.6M in total revenue for fiscal year 2026. This represents a 15.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Lakeland Inds's revenue growing?
Lakeland Inds (LAKE) revenue grew by 15.2% year-over-year, from $167.2M to $192.6M in fiscal year 2026.
Is Lakeland Inds profitable?
No, Lakeland Inds (LAKE) reported a net income of -$25.3M in fiscal year 2026, with a net profit margin of -13.1%.
What is Lakeland Inds's EBITDA?
Lakeland Inds (LAKE) had EBITDA of -$12.7M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Lakeland Inds have?
As of fiscal year 2026, Lakeland Inds (LAKE) had $12.5M in cash and equivalents against $30.4M in long-term debt.
What is Lakeland Inds's gross margin?
Lakeland Inds (LAKE) had a gross margin of 32.9% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
What is Lakeland Inds's operating margin?
Lakeland Inds (LAKE) had an operating margin of -8.1% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is Lakeland Inds's net profit margin?
Lakeland Inds (LAKE) had a net profit margin of -13.1% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
What is Lakeland Inds's return on equity (ROE)?
Lakeland Inds (LAKE) has a return on equity of -19.6% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Lakeland Inds's free cash flow?
Lakeland Inds (LAKE) generated -$16.4M in free cash flow during fiscal year 2026. This represents a 5.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Lakeland Inds's operating cash flow?
Lakeland Inds (LAKE) generated -$15.8M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Lakeland Inds's total assets?
Lakeland Inds (LAKE) had $209.9M in total assets as of fiscal year 2026, including both current and long-term assets.
What are Lakeland Inds's capital expenditures?
Lakeland Inds (LAKE) invested $671K in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
What is Lakeland Inds's current ratio?
Lakeland Inds (LAKE) had a current ratio of 3.53 as of fiscal year 2026, which is generally considered healthy.
What is Lakeland Inds's debt-to-equity ratio?
Lakeland Inds (LAKE) had a debt-to-equity ratio of 0.24 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Lakeland Inds's return on assets (ROA)?
Lakeland Inds (LAKE) had a return on assets of -12.1% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Lakeland Inds's cash runway?
Based on fiscal year 2026 data, Lakeland Inds (LAKE) had $12.5M in cash against an annual operating cash burn of $15.8M. This gives an estimated cash runway of approximately 10 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Lakeland Inds's Piotroski F-Score?
Lakeland Inds (LAKE) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Lakeland Inds's earnings high quality?
Lakeland Inds (LAKE) has an earnings quality ratio of 0.62x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Lakeland Inds cover its interest payments?
Lakeland Inds (LAKE) has an interest coverage ratio of -7.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Lakeland Inds?
Lakeland Inds (LAKE) scores 44 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.