LIND Stock Analysis: Lindblad Expeditions | NASDAQ
Travel Services | NASDAQ, USA | Market Cap: 1.679m USD | 12M Return: 105.9% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 22.0M
Qual. Beats: 0
Rev. Trend: 99.2%
Qual. Beats: 7
Warnings
Tailwinds
Seasonality 10.5 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, Inc. (NASDAQ: LIND) is a New York-based expedition travel company founded in 1979 that operates through two segments: Lindblad (ship-based expeditions) and Land Experiences (nature and cycling tours). The companys ship-based voyages use small, customized vessels to access remote destinations including Antarctica, the Arctic, the Galápagos Islands, Alaska, Baja Californias Sea of Cortez, and Panama. Its Land Experiences segment, which includes the Natural Habitats and DuVine brands, offers small-group eco-conscious itineraries, polar bear tours, cycling adventures, and curated walking journeys across more than 45 countries on seven continents.
A key differentiator for LIND within the cruise and expedition travel industry is its long-standing partnership with National Geographic, which places photographers, writers, marine biologists, and naturalists aboard its expeditions, as well as its collaboration with the World Wildlife Fund to support conservation-focused travel. The company sits within the GICS Hotels, Resorts & Cruise Lines sub-industry, a segment of consumer discretionary that includes traditional ocean cruise operators, though Lindblads small-ship, education-oriented model is more aligned with the niche adventure/expedition cruising subsector than mass-market cruising.
- Expedition cruise bookings and net yields drive Lindblad segment growth
- Natural Habitats and DuVine margins lift Land Experiences profitability
- Fuel costs and discretionary travel demand pressure operating margins
| Net Income: -24.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA 2.22 > 1.0 |
| NWC/Revenue: -11.06% < 20% (prev -18.59%; Δ 7.53% < -1%) |
| CFO/TA 0.13 > 3% & CFO 124.3m > Net Income -24.4m |
| Net Debt (345.1m) to EBITDA (93.3m): 3.70 < 3 |
| Current Ratio: 0.81 > 1.5 & < 3 |
| Outstanding Shares: last quarter (61.1m) vs 12m ago 11.88% < -2% |
| Gross Margin: 35.89% > 18% (prev 44.72%; Δ -8.82% > 0.5%) |
| Asset Turnover: 84.32% > 50% (prev 73.81%; Δ 10.50% > 0%) |
| Interest Coverage Ratio: 0.63 > 6 (EBIT TTM 27.7m / Interest Expense TTM 44.2m) |
| A: -0.09 (Total Current Assets 384.8m - Total Current Liabilities 473.1m) / Total Assets 987.2m |
| B: -0.41 (Retained Earnings -408.9m / Total Assets 987.2m) |
| C: 0.03 (EBIT TTM 27.7m / Avg Total Assets 948.0m) |
| D: -0.17 (Book Value of Equity -190.1m / Total Liabilities 1.14b) |
| Altman-Z'' = -1.92 = D |
As of July 13, 2026, the stock is trading at USD 26.52 with a total of 846,597 shares traded. Over the past week, the price has changed by +1.14%, over one month by +13.09%, over three months by +37.98% and over the past year by +105.90%.
Current recommended Stop Loss: 25.00 (which is 5.7% or 1.2 ATR below the current price).
Lindblad Expeditions has received a consensus analysts rating of 4.33. Therefore, it is recommended to buy LIND.
- StrongBuy: 2
- Buy: 0
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 25.8 | -2.7% |
P/E Forward = 217.3913
P/S = 2.101
P/B = 159.797
Revenue TTM = 799.3m USD
EBIT TTM = 27.7m USD
EBITDA TTM = 93.3m USD
Long Term Debt = 663.2m USD (from longTermDebt, last quarter)
Short Term Debt = 1.49m USD (from shortTermDebt, last quarter)
Debt = 666.2m USD (from shortLongTermDebtTotal, last quarter) + Leases 1.49m
Net Debt = 345.1m USD (calculated: Debt 666.2m - CCE 321.1m)
Enterprise Value = 2.02b USD (1.68b + Debt 666.2m - CCE 321.1m)
Interest Coverage Ratio = 0.63 (Ebit TTM 27.7m / Interest Expense TTM 44.2m)
EV/FCF = 24.36x (Enterprise Value 2.02b / FCF TTM 83.1m)
FCF Yield = 4.10% (FCF TTM 83.1m / Enterprise Value 2.02b)
FCF Margin = 10.40% (FCF TTM 83.1m / Revenue TTM 799.3m)
Net Margin = -3.05% (Net Income TTM -24.4m / Revenue TTM 799.3m)
Gross Margin = 35.89% ((Revenue TTM 799.3m - Cost of Revenue TTM 512.4m) / Revenue TTM)
Gross Margin QoQ = 40.19% (prev 14.13%)
Tobins Q-Ratio = 2.05 (Enterprise Value 2.02b / Total Assets 987.2m)
Interest Expense / Debt = 6.63% (Interest Expense 44.2m / Debt 666.2m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 21.9m (EBIT 27.7m * (1 - 21.00%))
Current Ratio = 0.81 (Total Current Assets 384.8m / Total Current Liabilities 473.1m)
Debt / Equity = -3.50 (negative equity) (Debt 666.2m / totalStockholderEquity, last quarter -190.1m)
Debt / EBITDA = 3.70 (Net Debt 345.1m / EBITDA 93.3m)
Debt / FCF = 4.15 (Net Debt 345.1m / FCF TTM 83.1m)
Total Stockholder Equity = -207.5m (last 4 quarters mean from totalStockholderEquity)
RoA = -2.57% (Net Income -24.4m / Total Assets 987.2m)
RoE = 11.75% (negative equity) (Net Income TTM -24.4m / Total Stockholder Equity -207.5m)
RoCE = 6.09% (EBIT 27.7m / Capital Employed (Equity -207.5m + L.T.Debt 663.2m))
RoIC = 4.61% (NOPAT 21.9m / Invested Capital 475.6m)
WACC = 9.07% (E(1.68b)/V(2.35b) * Re(10.59%) + D(666.2m)/V(2.35b) * Rd(6.63%) * (1-Tc(0.21)))
Discount Rate = 10.59% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 64.44 | Cagr: 6.23%
[DCF] Terminal Value 75.67% ; FCFF base≈72.4m ; Y1≈83.0m ; Y5≈122.2m
[DCF] Fair Price = 19.61 (EV 1.63b - Net Debt 345.1m = Equity 1.29b / Shares 65.6m; r=9.07% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.50 | # QB: 0
Revenue Correlation: 99.16 | Revenue CAGR: 15.84% | SUE: 1.18 | # QB: 7
EPS current Quarter (2026-06-30): EPS=-0.12 | Chg30d=+1.23% | Revisions=+25% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.40 | Chg30d=+7.90% | Revisions=+25% | Analysts=1
EPS current Year (2026-12-31): EPS=0.24 | Chg30d=+220.00% | Revisions=+0% | GrowthEPS=+557.1% | GrowthRev=+9.9%
EPS next Year (2027-12-31): EPS=0.34 | Chg30d=+19.68% | Revisions=+25% | GrowthEPS=+39.6% | GrowthRev=+6.6%
[Analyst] Revisions Ratio: +50% (up=3, down=0)