A Business at a Glance
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LINDBLAD EXPEDITIONS HOLDINGS, INC.
LIND
$1.5B
Mkt Cap
$26.85
-0.70%
LINDBLAD EXPEDITIONS HOLDINGS, INC. (LIND) has a 5-year average return on invested capital (ROIC) of -2.5%. This is below average and may indicate limited pricing power.
LINDBLAD EXPEDITIONS HOLDINGS, INC. (LIND) has a market capitalization of $1.8B. It is classified as a small-cap stock.
LINDBLAD EXPEDITIONS HOLDINGS, INC. (LIND) does not currently pay a regular dividend.
LINDBLAD EXPEDITIONS HOLDINGS, INC. (LIND) operates in the Transportation Services industry, within the Industrials sector.
LINDBLAD EXPEDITIONS HOLDINGS, INC. (LIND) reported annual revenue of $771 million in its most recent fiscal year, based on SEC EDGAR filings.
LINDBLAD EXPEDITIONS HOLDINGS, INC. (LIND) has a net profit margin of -4.5%. The company is currently unprofitable.
LINDBLAD EXPEDITIONS HOLDINGS, INC. (LIND) generated $64 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Lindblad has been providing marine expedition adventures and active travel experiences globally to its guests since 1979. Our expedition sailing and land-based adventure travel experiences foster a spirit of exploration and discovery through itineraries that feature up-close encounters with wildlife, nature, history and culture, and promote guest empowerment, human connections and interactivity. Our mission is to offer life-enhancing adventures around the world and pioneering innovative ways to allow our guests to connect with exotic and remote places. Our brands include Lindblad Expeditions, Natural Habitat, Inc.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 799M | 771M | 645M | 570M | - | - |
| Net Income | -29M | -35M | -36M | -50M | -116M | -125M |
| EPS | $-0.54 | $-0.63 | $-0.67 | $-0.94 | $-2.23 | $-2.41 |
| Free Cash Flow | 71M | 64M | 59M | -4.5M | -40M | -64M |
| ROIC | 20.1% | 29.3% | 10.0% | 4.1% | -29.5% | -26.3% |
| Gross Margin | - | 28.1% | 30.1% | 27.5% | - | - |
| Debt/Equity | 0.00 | -2.33 | -2.48 | -2.77 | -3.05 | -6.99 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 50M | 45M | 22M | 11M | -63M | -111M |
| Operating Margin | 6.3% | 5.9% | 3.3% | 1.9% | - | - |
| ROE | 0.0% | 12.9% | 15.0% | 24.5% | 88.8% | - |
| Shares Outstanding | 65M | 55M | 53M | 53M | 52M | 52M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 198M | 210M | 242M | 267M | -11M | 343M | N/A | N/A | N/A | 570M | 645M | 771M | 799M |
| Gross Margin | 54.6% | 54.6% | 50.9% | 49.1% | -1440.4% | 35.5% | N/A | N/A | N/A | 27.5% | 30.1% | 28.1% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 36M | 39M | 52M | 61M | 63M | 63M | 46M | 65M | 96M | 103M | 121M | 130M | 129M |
| EBIT | 30M | 16M | 14M | 11M | 23M | 33M | -88M | -111M | -63M | 11M | 22M | 45M | 50M |
| Op. Margin | 15.3% | 7.4% | 5.8% | 4.0% | -210.5% | 9.7% | N/A | N/A | N/A | 1.9% | 3.3% | 5.9% | 6.3% |
| Net Income | 22M | 20M | 4.9M | -8.7M | 11M | 14M | -100M | -125M | -116M | -50M | -36M | -35M | -29M |
| Net Margin | 11.2% | 9.4% | 2.0% | -3.2% | -104.8% | 4.0% | N/A | N/A | N/A | -8.8% | -5.6% | -4.5% | -3.6% |
| Non-Recurring | 0 | 7.5M | -83K | 454K | -129K | 0 | -111K | 0 | 0 | 0 | 0 | 2.5M | 2.5M |
| Returns on Capital | |||||||||||||
| ROIC | 49.5% | 21.0% | 14.1% | 4.2% | 12.0% | 13.5% | -23.8% | -26.3% | -29.5% | 4.1% | 10.0% | 29.3% | 20.1% |
| ROE | 36.1% | 21.8% | 4.3% | -7.9% | 10.2% | 11.4% | -127.0% | N/A | 88.8% | 24.5% | 15.0% | 12.9% | 0.0% |
| ROA | 10.0% | 6.3% | 1.2% | -2.1% | 2.5% | 2.7% | -15.4% | -15.7% | -14.4% | -6.2% | -4.2% | -3.7% | -2.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 43M | 40M | 31M | 53M | 56M | 63M | -92M | 32M | -2.2M | 25M | 92M | 112M | 113M |
| Free Cash Flow | 37M | 26M | -45M | -28M | 2.0M | -33M | -248M | -64M | -40M | -4.5M | 59M | 64M | 71M |
| Owner Earnings | 32M | 24M | 8.9M | 25M | 31M | 33M | -127M | -13M | -53M | -35M | 30M | 35M | 36M |
| CapEx | 5.9M | 15M | 76M | 80M | 54M | 96M | 155M | 97M | 38M | 30M | 34M | 48M | 41M |
| Maint. CapEx | 11M | 11M | 17M | 17M | 21M | 26M | 32M | 40M | 44M | 47M | 53M | 63M | 65M |
| Growth CapEx | 0 | 3.5M | 59M | 63M | 34M | 70M | 123M | 57M | 0 | 0 | 0 | 0 | 0 |
| D&A | 11M | 11M | 17M | 17M | 21M | 26M | 32M | 40M | 44M | 47M | 53M | 63M | 65M |
| CapEx/OCF | N/A | N/A | N/A | 152.1% | 96.4% | 153.4% | N/A | 297.5% | N/A | 117.8% | 36.3% | 42.8% | 36.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 1.9M | 5.0M | 10M | 6.2M | 854K | 23K | 127K | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | 0.0% | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 274K | 4.9M | 5.4M | 11M | 4.4M | 3.6M | 2.4M | 5.6M | 7.0M | 14M | 9.8M | 13M | 11M |
| Debt Repayment | 4.0M | 42M | 1.8M | 1.8M | 172M | 2.0M | 2.8M | 6.0M | 353M | 206M | 49K | 635M | 635M |
| Balance Sheet | |||||||||||||
| Net Debt | 17M | -51M | 21M | 62M | 77M | 123M | 300M | 399M | 457M | 467M | 443M | 407M | 388M |
| Cash & Equiv. | 40M | 207M | 135M | 96M | 113M | 102M | 188M | 151M | 87M | 157M | 184M | 257M | 275M |
| Long-Term Debt | 52M | 163M | 164M | 164M | 188M | 214M | 471M | 519M | 529M | 622M | 625M | 663M | 663M |
| Debt/Equity | 0.84 | 1.44 | 1.46 | 1.56 | 1.64 | 1.82 | 13.96 | -6.99 | -3.05 | -2.77 | -2.48 | -2.33 | 0.00 |
| Interest Coverage | 729.7 | 1.4 | 1.4 | 1.1 | 2.1 | 2.7 | -5.3 | -4.5 | -1.7 | 0.2 | 0.5 | 1.0 | 1.0 |
| Equity | 68M | 114M | 114M | 106M | 116M | 123M | 35M | -79M | -183M | -225M | -253M | -285M | -190M |
| Total Assets | 246M | 382M | 408M | 424M | 473M | 549M | 757M | 827M | 788M | 831M | 877M | 980M | 987M |
| Total Liabilities | 178M | 268M | 289M | 312M | 351M | 409M | 631M | 895M | 943M | 1.0B | 1.1B | 1.2B | 1.1B |
| Intangibles | N/A | 6.2M | 11M | 9.6M | 8.0M | 6.4M | 4.8M | 13M | 11M | 9.4M | 16M | 17M | 16M |
| Retained Earnings | 46M | 66M | 71M | 64M | 75M | 82M | -12M | -136M | -267M | -322M | -363M | -411M | -409M |
| Working Capital | -60M | 130M | 47M | -13M | -9.3M | -36M | 73M | -79M | -158M | -75M | -114M | -94M | -88M |
| Current Assets | 66M | 234M | 171M | 132M | 150M | 147M | 229M | 210M | 183M | 245M | 278M | 368M | 385M |
| Current Liabilities | 126M | 104M | 124M | 144M | 159M | 183M | 156M | 289M | 341M | 319M | 392M | 462M | 473M |
| Per Share Data | |||||||||||||
| EPS | 0.22 | 0.43 | 0.10 | -0.19 | 0.24 | 0.28 | -2.01 | -2.41 | -2.23 | -0.94 | -0.67 | -0.63 | -0.54 |
| Owner EPS | 0.32 | 0.52 | 0.18 | 0.55 | 0.66 | 0.68 | -2.54 | -0.24 | -1.02 | -0.66 | 0.56 | 0.64 | 0.55 |
| Book Value | 0.67 | 2.48 | 2.34 | 2.33 | 2.45 | 2.52 | 0.70 | -1.52 | -3.51 | -4.23 | -4.73 | -5.17 | -2.90 |
| Cash Flow/Share | 0.43 | 0.88 | 0.65 | 1.16 | 1.19 | 1.28 | -1.85 | 0.63 | -0.04 | 0.48 | 1.73 | 2.03 | 0.56 |
| Dividends/Share | 0.00 | 0.00 | 0.00 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 101.1M | 45.9M | 48.6M | 45.6M | 47.3M | 48.9M | 50.0M | 51.7M | 52.0M | 53.2M | 53.5M | 55.0M | 65.5M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | 55.1 | 59.1 | N/A | N/A | N/A | N/A | N/A | N/A | -50.1 |
| P/FCF | N/A | N/A | N/A | N/A | 311.0 | N/A | N/A | N/A | N/A | N/A | 10.9 | 12.4 | 24.6 |
| EV/EBIT | N/A | N/A | N/A | 38.5 | 23.3 | 25.0 | N/A | N/A | N/A | 85.1 | 41.7 | 20.7 | 42.5 |
| Price/Book | N/A | N/A | N/A | 4.1 | 5.4 | 6.6 | 23.4 | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Sales | N/A | N/A | N/A | 1.7 | 1.9 | 4.7 | 6.0 | 5.7 | 1.4 | 0.9 | 0.8 | 0.8 | 2.2 |
| FCF Yield | N/A | N/A | N/A | -6.3% | 0.3% | -4.1% | -30.2% | -7.1% | -11.3% | -0.8% | 9.2% | 8.0% | 4.1% |
| Market Cap | 0 | 0 | 0 | 439M | 626M | 810M | 820M | 900M | 357M | 594M | 642M | 794M | 1.8B |
| Avg. Price | 0.00 | 0.00 | 0.00 | 9.87 | 12.24 | 16.05 | 9.88 | 16.21 | 11.65 | 9.36 | 9.42 | 11.77 | 26.85 |
| Year-End Price | 0.00 | 0.00 | 0.00 | 9.62 | 13.23 | 16.55 | 16.40 | 17.40 | 6.86 | 11.17 | 12.01 | 14.44 | 26.85 |
LINDBLAD EXPEDITIONS HOLDINGS, INC. passes 3 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 27.4x vs a median of 11.7x. The company's 5-year average gross margin is 28.6%. At current prices, the estimated annualized return to fair value is +44.2%.
LINDBLAD EXPEDITIONS HOLDINGS, INC. (LIND) reported earnings per share (EPS) of $-0.63 in its most recent fiscal year.
LINDBLAD EXPEDITIONS HOLDINGS, INC. (LIND) has a return on equity (ROE) of 12.9%. This indicates moderate shareholder returns.
LINDBLAD EXPEDITIONS HOLDINGS, INC. (LIND) has a 5-year average gross margin of 28.6%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 13 years of financial data for LINDBLAD EXPEDITIONS HOLDINGS, INC. (LIND), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
LINDBLAD EXPEDITIONS HOLDINGS, INC. (LIND) has a book value per share of $-5.17, based on its most recent annual SEC filing.