LIND Stock Analysis: Lindblad Expeditions | NASDAQ
Travel Services | NASDAQ, USA | Market Cap: 2.168m USD | 12M Return: 155.6% | US5352191093 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 23.7M
Qual. Beats: 0
Rev. Trend: 99.2%
Qual. Beats: 8
Warnings
Tailwinds
Seasonality 11.6 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: -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 (104.1m): 3.35 < 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: 0.80 > 6 (EBIT TTM 34.5m / 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: 0.04 (EBIT TTM 34.5m / 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 August 12, 2026, the stock is trading at USD 32.84 with a total of 415,128 shares traded. Over the past week, the price has changed by -3.67%, over one month by +23.97%, over three months by +68.58% and over the past year by +155.56%.
Current recommended Stop Loss: 31.20 (which is 5% 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 | 36.6 | 11.4% |
P/E Forward = 227.2727
P/S = 2.6102
P/B = 159.797
Revenue TTM = 830.6m USD
EBIT TTM = 34.5m USD
EBITDA TTM = 104.1m 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 = 2.52b USD (2.17b + Debt 667.3m - CCE 318.9m)
Interest Coverage Ratio = 0.80 (Ebit TTM 34.5m / Interest Expense TTM 43.1m)
EV/FCF = 23.08x (Enterprise Value 2.52b / FCF TTM 109.0m)
FCF Yield = 4.33% (FCF TTM 109.0m / Enterprise Value 2.52b)
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 = 2.43 (Enterprise Value 2.52b / Total Assets 1.03b)
Interest Expense / Debt = 6.45% (Interest Expense 43.1m / Debt 667.3m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 27.2m (EBIT 34.5m * (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 = 3.35 (Net Debt 348.4m / EBITDA 104.1m)
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 = 7.29% (EBIT 34.5m / Capital Employed (Equity -190.5m + L.T.Debt 663.9m))
RoIC = 5.80% (NOPAT 27.2m / Invested Capital 469.4m)
WACC = 9.51% (E(2.17b)/V(2.84b) * Re(10.87%) + D(667.3m)/V(2.84b) * Rd(6.45%) * (1-Tc(0.21)))
Discount Rate = 10.87% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 54.80 | Cagr: 9.51%
[DCF] Terminal Value 74.30% ; FCFF base≈88.9m ; Y1≈101.9m ; Y5≈149.9m
[DCF] Fair Price = 23.23 (EV 1.87b - Net Debt 348.4m = Equity 1.52b / Shares 65.6m; r=9.51% [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=0.41 | Chg30d=+19.08% | Revisions=+0% | Analysts=2
EPS current Year (2026-12-31): EPS=0.18 | Chg30d=-23.50% | Revisions=+0% | GrowthEPS=+449.7% | GrowthRev=+11.1%
EPS next Year (2027-12-31): EPS=0.44 | Chg30d=+30.41% | Revisions=+40% | GrowthEPS=+138.0% | GrowthRev=+7.7%
[Analyst] Revisions Ratio: +29% (up=3, down=1)