LIND Stock Analysis: Lindblad Expeditions | NASDAQ
Travel Services | NASDAQ, USA | Market Cap: 2.282m USD | 12M Return: 192.4% | US5352191093 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 28.6M
Qual. Beats: 0
Rev. Trend: 99.2%
Qual. Beats: 8
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Lindblad Expeditions Holdings (NASDAQ: LIND) is a New York-based travel company founded in 1979 that operates in two segments: Lindblad (ship-based marine expeditions) and Land Experiences (small-group land tours). The Lindblad segment offers intimate-scale vessel expeditions to remote destinations including Antarctica, the Arctic, the Galápagos Islands, Alaska, Baja Californias Sea of Cortez, and Panama, with onboard tools for in-depth exploration. The Land Experiences segment encompasses Natural Habitats and DuVine, providing nature-focused expeditions, small-group wildlife and cultural tours, cycling adventures, and curated active journeys across more than 45 countries on seven continents.
A distinguishing feature of the business model is its long-standing partnership with National Geographic, which supplies experts such as photographers, marine biologists, naturalists, and field researchers to enhance expedition programming, as well as its collaboration with the World Wildlife Fund on conservation-focused travel. The company operates within the Consumer Discretionary sectors Hotels, Resorts & Cruise Lines sub-industry, occupying a niche in experiential and adventure-based cruising that emphasizes education, wildlife, and remote destinations rather than mass-market leisure cruising.
- Antarctica and Galápagos bookings drive Lindblad segment revenue growth
- Fuel and operating costs pressure expedition cruise margins
- National Geographic partnership renewal underpins long-term competitive positioning
| Net Income: -17.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA 4.28 > 1.0 |
| NWC/Revenue: -9.88% < 20% (prev -18.16%; Δ 8.28% < -1%) |
| CFO/TA 0.14 > 3% & CFO 142.5m > Net Income -17.3m |
| Net Debt (348.4m) to EBITDA (103.7m): 3.36 < 3 |
| Current Ratio: 0.84 > 1.5 & < 3 |
| Outstanding Shares: last quarter (65.5m) vs 12m ago 19.93% < -2% |
| Gross Margin: 34.73% > 18% (prev 47.32%; Δ -12.59% > 0.5%) |
| Asset Turnover: 84.30% > 50% (prev 74.99%; Δ 9.31% > 0%) |
| Interest Coverage Ratio: 0.79 > 6 (EBIT TTM 34.1m / Interest Expense TTM 43.1m) |
| A: -0.08 (Total Current Assets 442.7m - Total Current Liabilities 524.8m) / Total Assets 1.03b |
| B: -0.40 (Retained Earnings -412.3m / Total Assets 1.03b) |
| C: 0.03 (EBIT TTM 34.1m / Avg Total Assets 985.3m) |
| D: -0.16 (Book Value of Equity -195.8m / Total Liabilities 1.20b) |
| Altman-Z'' = -1.76 = D |
As of October 11, 2026, the stock is trading at USD 35.82 with a total of 702,751 shares traded. Over the past week, the price has changed by +2.99%, over one month by +41.25%, over three months by +37.03% and over the past year by +192.41%.
Current recommended Stop Loss: 33.50 (which is 6.5% or 1.6 ATR below the current price).
Lindblad Expeditions has received a consensus analysts rating of 4.33. Therefore, it is recommended to buy LIND.
- StrongBuy: 4
- Buy: 0
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 35.5 | -0.9% |
P/E Forward = 46.0829
P/S = 2.7477
P/B = 159.797
Revenue TTM = 830.6m USD
EBIT TTM = 34.1m USD
EBITDA TTM = 103.7m USD
Long Term Debt = 663.9m USD (from longTermDebt, last quarter)
Short Term Debt = 1.69m USD (from shortTermDebt, last quarter)
Debt = 667.3m USD (from shortLongTermDebtTotal, last quarter) + Leases 1.69m
Net Debt = 348.4m USD (calculated: Debt 667.3m - CCE 318.9m)
Enterprise Value = 2.63b USD (2.28b + Debt 667.3m - CCE 318.9m)
Interest Coverage Ratio = 0.79 (Ebit TTM 34.1m / Interest Expense TTM 43.1m)
EV/FCF = 24.13x (Enterprise Value 2.63b / FCF TTM 109.0m)
FCF Yield = 4.14% (FCF TTM 109.0m / Enterprise Value 2.63b)
FCF Margin = 13.13% (FCF TTM 109.0m / Revenue TTM 830.6m)
Net Margin = -2.08% (Net Income TTM -17.3m / Revenue TTM 830.6m)
Gross Margin = 34.73% ((Revenue TTM 830.6m - Cost of Revenue TTM 542.1m) / Revenue TTM)
Gross Margin QoQ = 39.22% (prev 40.19%)
Tobins Q-Ratio = 2.54 (Enterprise Value 2.63b / Total Assets 1.03b)
Interest Expense / Debt = 6.45% (Interest Expense 43.1m / Debt 667.3m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 27.0m (EBIT 34.1m * (1 - 21.00%))
Current Ratio = 0.84 (Total Current Assets 442.7m / Total Current Liabilities 524.8m)
Debt / Equity = -3.41 (negative equity) (Debt 667.3m / totalStockholderEquity, last quarter -195.8m)
Debt / EBITDA = 3.36 (Net Debt 348.4m / EBITDA 103.7m)
Debt / FCF = 3.20 (Net Debt 348.4m / FCF TTM 109.0m)
Total Stockholder Equity = -190.5m (last 4 quarters mean from totalStockholderEquity)
RoA = -1.75% (Net Income -17.3m / Total Assets 1.03b)
RoE = 9.06% (negative equity) (Net Income TTM -17.3m / Total Stockholder Equity -190.5m)
RoCE = 7.21% (EBIT 34.1m / Capital Employed (Equity -190.5m + L.T.Debt 663.9m))
RoIC = 5.74% (NOPAT 27.0m / Invested Capital 469.4m)
WACC = 9.36% (E(2.28b)/V(2.95b) * Re(10.60%) + D(667.3m)/V(2.95b) * Rd(6.45%) * (1-Tc(0.21)))
Discount Rate = 10.60% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 54.80 | Cagr: 9.51%
[DCF] Terminal Value 74.78% ; FCFF base≈88.9m ; Y1≈101.9m ; Y5≈149.9m
[DCF] Fair Price = 23.90 (EV 1.92b - Net Debt 348.4m = Equity 1.57b / Shares 65.6m; r=9.36% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.51 | # QB: 0
Revenue Correlation: 99.21 | Revenue CAGR: 16.38% | SUE: 1.67 | # QB: 8
EPS current Quarter (2026-09-30): EPS=0.52 | Chg30d=+28.99% | Revisions=-25% | Analysts=1
EPS current Year (2026-12-31): EPS=0.18 | Chg30d=-1.53% | Revisions=-25% | GrowthEPS=+444.4% | GrowthRev=+13.3%
EPS next Year (2027-12-31): EPS=0.56 | Chg30d=+29.27% | Revisions=+40% | GrowthEPS=+212.4% | GrowthRev=+10.2%