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what it is
Lakeland makes protective clothing and fire gear, then sells it to factories, first responders, and government agencies around the world.
how it gets paid
Last year Lakeland Ind made $167M in revenue. Fire and services products was the main engine at $88.5M, or 53% of sales.
why it's growing
Revenue grew 2554.1% last year. The number that mattered was -$2.00 EPS, because losing money that fast can erase the value of revenue growth.
what just happened
Revenue hit $147M, but EPS came in at -$2.00 and overwhelmed the top-line story.
At a glance
C++ balance sheet — some cracks in the foundation
25/100 earnings predictability — expect surprises
1.4% dividend yield — cash in your pocket every quarter
0.6% return on capital — nothing to write home about
$0.02 fy2024 eps est
xvary composite: 33/100 — weak
What they do
Lakeland makes protective clothing and fire gear, then sells it to factories, first responders, and government agencies around the world.
Lakeland wins by being the company you call when failure gets people hurt. It sells into industrial and first-responder markets across a global distribution network, with 2,050 employees and products tied to safety rules and replacement cycles. That does not make the business untouchable, but it does make your customers less likely to switch on price alone.
How they make money
$167M
annual revenue · their business grew +2554.1% last year
Fire and services products
$88.5M
Industrial protective clothing
$31.7M
Disposable protective apparel
$21.7M
Chemical and decontamination gear
$15.0M
Accessories, repair, and rental
$10.1M
The products that matter
manufactures fire-protection gear
Fire Services Products
$25.2M · +31%
This is the business line doing the heavy lifting right now. It reached $25.2M and grew 31%. If you want the cleanest evidence that something is improving here, this is it.
growth leader
supplies industrial protective apparel
Industrial & Other
$22.4M · -15%
This segment fell 15% to $22.4M. That matters because turnarounds get much harder when the weaker bucket keeps shrinking while the stronger bucket is doing all the work.
weak link
the number that actually decides the stock
margin repair
2.7% operating margin
This is not a product line, but it is the key metric. Operating margin means what the business keeps after core operating costs. In human-speak: Lakeland keeps less than 3 cents of operating profit from each $1 of sales. If that stays stuck, revenue growth will not save the equity story.
what matters most
Key numbers
$167M
annual revenue
This is the scale of the business today. You are not buying a concept stock. You are buying a company that already sells a lot and still struggles to convert it into earnings.
$0.02
fy2025 eps
Earnings per share → profit for each share you own → so what: after a full year of work, Lakeland kept basically nothing for shareholders.
2.7%
operating margin
Operating margin → profit after running the business → so what: Lakeland keeps $2.70 for every $100 of sales before interest and taxes.
$47M
long-term debt
Debt → money the company owes → so what: the debt load is large versus an ~$86M market cap and leaves less room for mistakes.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 4 — safer than 20% of stocks
- price stability 15 / 100
- long-term debt $47M (35% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for LAKE right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue hit $147M, but EPS came in at -$2.00 and overwhelmed the top-line story.
Gross margin was 33.1%, but that did not save the quarter from a large loss. Contrast frame: $147M of quarterly revenue against a -$2.00 EPS print tells you the issue is execution, not demand alone.
$147M
revenue
-$2.00
eps
33.1%
gross margin
the number that mattered
The number that mattered was -$2.00 EPS, because losing money that fast can erase the value of revenue growth.
source: company earnings report, 2026
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What could go wrong
LAKE does not need a macro disaster to disappoint you. It already has enough company-specific pressure: thin profit, uneven segment trends, backlog quality questions, and a legal overhang sitting on top of an $86M market cap.
med
legal costs or credibility damage get expensive fast
Multiple law firms say they are investigating potential securities fraud claims, and the lead plaintiff deadline is April 24, 2026. A company does not need to lose a case for the process itself to drain attention, cash, and credibility.
This sits on top of an $86M market cap. Even modest legal expense or reputational damage can matter at that size.
med
Fire Services slows before Industrial stops shrinking
The growth split is the whole support beam right now: Fire Services Products up 31% to $25.2M, Industrial & Other down 15% to $22.4M. If the stronger bucket cools before the weaker one stabilizes, the turnaround story loses its cleanest proof point.
That would hit both the revenue story and your willingness to underwrite future margin improvement.
med
backlog quality disappoints instead of supporting the story
The company reports a $178M order backlog, but only $38M is labeled high probability. Backlog sounds comforting until you ask how much management is actually willing to call likely.
If conversion disappoints, investors stop treating backlog as support and start treating it as optimism with paperwork.
med
the balance sheet leaves little room for bad luck
Long-term debt is $47M, or 35% of capital, the balance-sheet grade is C++, and the dividend was already cut to preserve cash. That is not a crisis by itself. It is a warning that flexibility is limited.
With a 2.7% operating margin, there is not much buffer if demand softens, costs rise, or legal bills grow.
Put it together and the risk picture is blunt: this is a low-margin $167M revenue business with $47M of debt and a live legal overhang. Small companies like that do not get many free mistakes.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
next earnings update
You want to see whether Fire Services keeps growing and whether that growth finally reaches the margin line. Here is the thing: revenue alone is not enough anymore.
trend
segment split
Track the gap between Fire Services at +31% and Industrial & Other at -15%. If that spread narrows because Industrial improves while Fire stays healthy, the story gets cleaner. If it narrows because Fire slows, it gets worse.
risk
legal deadline and follow-through
April 24, 2026 matters because the legal overhang is already part of the stock. Watch filings before you watch the chart.
metric
operating margin
2.7% is the number to beat. If operating margin stays below 3% for the next few reads, the low valuation starts looking deserved rather than overlooked.
Analyst rankings
short-term outlook
thin coverage
analyst target data is thin here. in human-speak, there is no crowd consensus to hide behind.
risk profile
volatile
15/100 price stability and a small market cap tell you this stock can move harder than the fundamentals do.
chart momentum
damaged
At $9.54, the stock sits far closer to its $8 low than its $21 high. That is not technical poetry. It is weak sentiment.
earnings predictability
25/100
Predictability is low because segment performance is uneven and profit is thin. One bad quarter can rewrite the story fast.
source: institutional data
Institutional activity
institutional ownership data for LAKE is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$10
current price
n/a
target midpoint · n/a from current
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