LIND Stock Analysis: Lindblad Expeditions | NASDAQ
Travel Services | NASDAQ, USA | Market Cap: 2.200m USD | 12M Return: 192.4% | US5352191093 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 30.0M
Qual. Beats: 0
Rev. Trend: 99.7%
Qual. Beats: 0
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: 5.78m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.09 > 0.02 and ΔFCF/TA 3.19 > 1.0 |
| NWC/Revenue: -14.53% < 20% (prev -10.16%; Δ -4.37% < -1%) |
| CFO/TA 0.11 > 3% & CFO 125.8m > Net Income 5.78m |
| Net Debt (391.3m) to EBITDA (135.6m): 2.89 < 3 |
| Current Ratio: 0.76 > 1.5 & < 3 |
| Outstanding Shares: last quarter (66.7m) vs 12m ago 20.02% < -2% |
| Gross Margin: 37.33% > 18% (prev 45.04%; Δ -7.71% > 0.5%) |
| Asset Turnover: 81.79% > 50% (prev 75.41%; Δ 6.37% > 0%) |
| Interest Coverage Ratio: 1.49 > 6 (EBIT TTM 62.6m / Interest Expense TTM 42.0m) |
| A: -0.11 (Total Current Assets 397.8m - Total Current Liabilities 522.7m) / Total Assets 1.13b |
| B: -0.35 (Retained Earnings -388.9m / Total Assets 1.13b) |
| C: 0.06 (EBIT TTM 62.6m / Avg Total Assets 1.05b) |
| D: -0.14 (Book Value of Equity -171.7m / Total Liabilities 1.22b) |
| Altman-Z'' = -1.60 = D |
As of November 10, 2026, the stock is trading at USD 35.70 with a total of 659,646 shares traded. Over the past week, the price has changed by -2.62%, over one month by -0.34%, over three months by +8.05% and over the past year by +192.38%.
Current recommended Stop Loss: 32.60 (which is 8.7% 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 | 36 | 0.8% |
P/E Forward = 55.5556
P/S = 2.5589
P/B = 159.797
Revenue TTM = 859.6m USD
EBIT TTM = 62.6m USD
EBITDA TTM = 135.6m USD
Long Term Debt = 662.7m USD (from longTermDebt, last fiscal year)
Short Term Debt = 1.15m USD (from shortTermDebt, last fiscal year)
Debt = 666.2m USD (from shortLongTermDebtTotal, last quarter) + Leases 1.69m
Net Debt = 391.3m USD (calculated: Debt 666.2m - CCE 274.9m)
Enterprise Value = 2.59b USD (2.20b + Debt 666.2m - CCE 274.9m)
Interest Coverage Ratio = 1.49 (Ebit TTM 62.6m / Interest Expense TTM 42.0m)
EV/FCF = 26.99x (Enterprise Value 2.59b / FCF TTM 96.0m)
FCF Yield = 3.70% (FCF TTM 96.0m / Enterprise Value 2.59b)
FCF Margin = 11.17% (FCF TTM 96.0m / Revenue TTM 859.6m)
Net Margin = 0.67% (Net Income TTM 5.78m / Revenue TTM 859.6m)
Gross Margin = 37.33% ((Revenue TTM 859.6m - Cost of Revenue TTM 538.7m) / Revenue TTM)
Gross Margin QoQ = 49.50% (prev 39.22%)
Tobins Q-Ratio = 2.30 (Enterprise Value 2.59b / Total Assets 1.13b)
Interest Expense / Debt = 6.30% (Interest Expense 42.0m / Debt 666.2m)
Taxrate = 14.17% (4.47m / 31.6m)
NOPAT = 53.7m (EBIT 62.6m * (1 - 14.17%))
Current Ratio = 0.76 (Total Current Assets 397.8m / Total Current Liabilities 522.7m)
Debt / Equity = -3.88 (negative equity) (Debt 666.2m / totalStockholderEquity, last quarter -171.7m)
Debt / EBITDA = 2.89 (Net Debt 391.3m / EBITDA 135.6m)
Debt / FCF = 4.08 (Net Debt 391.3m / FCF TTM 96.0m)
Total Stockholder Equity = -189.8m (last 4 quarters mean from totalStockholderEquity)
RoA = 0.55% (Net Income 5.78m / Total Assets 1.13b)
RoE = -3.05% (negative equity) (Net Income TTM 5.78m / Total Stockholder Equity -189.8m)
RoCE = 13.24% (EBIT 62.6m / Capital Employed (Equity -189.8m + L.T.Debt 662.7m))
RoIC = 9.58% (NOPAT 53.7m / Invested Capital 561.0m)
WACC = 8.45% (E(2.20b)/V(2.87b) * Re(9.37%) + D(666.2m)/V(2.87b) * Rd(6.30%) * (1-Tc(0.14)))
Discount Rate = 9.37% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 63.68 | Cagr: 10.28%
[DCF] Terminal Value 77.65% ; FCFF base≈78.5m ; Y1≈89.9m ; Y5≈132.4m
[DCF] Fair Price = 23.87 (EV 1.96b - Net Debt 391.3m = Equity 1.57b / Shares 65.6m; r=8.45% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.39 | # QB: 0
Revenue Correlation: 99.70 | Revenue CAGR: 17.28% | SUE: 0.67 | # QB: 0
EPS current Quarter (2027-03-31): EPS=0.12 | Chg30d=N/A | Revisions=-25% | Analysts=2
EPS current Year (2026-12-31): EPS=0.06 | Chg30d=-68.20% | Revisions=-25% | GrowthEPS=+209.4% | GrowthRev=+14.4%
EPS next Year (2027-12-31): EPS=0.51 | Chg30d=-9.03% | Revisions=+40% | GrowthEPS=+794.6% | GrowthRev=+10.1%
[Analyst] Revisions Ratio: +0% (up=2, down=2)