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LINDLindblad Expeditions Holdings, Inc.
$33.63$1.9B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
LIND logo

Lindblad Expeditions Holdings, Inc.

LIND
NASDAQ · Travel Services
$33.63
At close - Oct 1, 4:00 PM EDT - USD
Market Cap$1.85B
P/E-53.4x
52W High$35.00
Volume1.8M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Revenue Growth Masks Persistent Negative Equity Risk

Lindblad Expeditions is experiencing accelerating revenue growth, with 18.6% year-over-year growth in 2026Q2 and record net yields, driven by fleet expansion and strong demand. However, the company's profitability remains strained, as evidenced by a negative n...

GrowthAccelerating
ProfitabilityStrained
ValuationExpensive
TechnicalsHealthy
Explore valuation models
MARKET ACTION

LIND price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

7/12 Beats

EPS beat 7 of last 12 quarters

02

Valuation risk

-315% Peers

P/E is 315% below peer median

03

Market leadership

RS 90 · Leader

High momentum (Outperforming 90% of market)

04

Healthy Uptrend

Uptrend

Price > 50DMA > 200DMA

Next CatalystEstimated earnings · Nov 3

Market performance

Price History →

Trailing total returns as of 10/3/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
LIND+132.89%
S&P 500 (^GSPC)+11.83%
1-Year Return
LIND+170.77%
S&P 500 (^GSPC)+14.29%
3-Year Return
LIND+370.35%
S&P 500 (^GSPC)+95.82%
5-Year Return
LIND+118.95%
S&P 500 (^GSPC)+78.93%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E
-55.2x
Forward P/E
179.0x
EV/EBITDA100th %ile
21.4x
FCF YieldCash Flow
3.3%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-55.2x
N/A
N/A
EV/EBITDA
21.4x
14.4x
100th· High
Price/FCF
29.9x
12.4x
100th· High
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$3.41-89.9%
Base (Fair)$12.11-65.2%
Bull$17.56-47.8%
$3.41 Bear$12.11 Base$17.56 Bull
Current Market Price: $33.63
Trades at a 177.7% premium to Base DCF ($12.11)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$771M+19.6% YoY
Net income
-$30M+4.7% YoY
Free cash flow
$64M+8.5% YoY
Operating margin
5.9%+2.6 pts YoY
ROIC (TTM)12.4%
Avg ROIC 5Y-
ROE (TTM)-
Piotroski Score6 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate7/12 (58%)
Revenue Beat Rate9/12 (75%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 3, 2026
-$0.02+80.8%
vs -$0.10
$199M+7.2%
vs $186M
Q2 2026
May 5, 2026
$0.09+800.0%
vs $0.01
$208M+5.5%
vs $197M
Q1 2026
Feb 26, 2026
-$0.45-40.6%
vs -$0.32
$183M+9.1%
vs $168M
Q4 2025
Nov 4, 2025
$0.33+50.0%
vs $0.22
$240M+43.3%
vs $168M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Defense World·Sep 9, 2026
Analysts Set Lindblad Expeditions (NASDAQ:LIND) Price Target at $31.20

Lindblad Expeditions (NASDAQ: LIND - Get Free Report) has earned a consensus rating of "Hold" from the eight research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company.

Defense World·Aug 30, 2026
Deutsche Bank AG Acquires New Stake in Lindblad Expeditions $LIND

Deutsche Bank AG bought a new position in shares of Lindblad Expeditions (NASDAQ: LIND) in the undefined quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 51,944 shares of the company's stock, valued at approximately $1,467,000. Deutsche Bank AG owned approximately 0.08% of Lindblad Expeditions

GuruFocus·Aug 20, 2026
John Rogers Trims Lindblad Expeditions Holdings Inc (LIND) Stake -- Shares Remain Significantly Overvalued on GF Value

On June 30, 2026, John Rogers (Trades, Portfolio), through Ariel Investment, LLC, executed a reduction of the firm's position in Lindblad Expeditions Holdings I

Seeking Alpha·Aug 4, 2026
Lindblad Expeditions: Strong Fundamentals Aren't Enough Alone (Rating Downgrade)

Lindblad Expeditions Holdings, Inc. reported fantastic Q2 results and a revenue guidance raise for 2026. LIND's expedition cruise market niche is highly attractive, and the company's strategy is working immensely well. Land Experiences have grown in importance to LIND, and brought asset-light earnings growth in Q2.

Filtered for Lindblad Expeditions Holdings, Inc.More Headlines
04

Compare before deciding

Benchmark LIND against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Lindblad Expeditions Holdings, Inc. (LIND)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
LIND logoLINDLindblad Expeditions Holdings, Inc.Current
$33.63$1.85B-53.3819.59%-3.85%——
NCLH logoNCLHNorwegian Cruise Line Holdings Ltd.
$14.64$6.72B16.273.67%7.49%32.35%—
RCL logoRCLRoyal Caribbean Cruises Ltd.
$269.99$72.41B17.308.8%23.56%42.92%—
CCL logoCCLCarnival Corporation & plc
$25.07$34.34B12.416.4%11.37%23.89%—
TNL logoTNLTravel + Leisure Co.
$62.96$3.86B18.304.06%5.81%——
HZO logoHZOMarineMax, Inc.
$52.33$1.15B-36.59-5.01%0.18%0.42%—

Compare LIND vs Peers

Lindblad Expeditions Holdings, Inc. (LIND) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs NCLH

Most directly comparable listed peer for LIND.

Scale Benchmark

vs BA

Larger-name benchmark to compare LIND against a more recognizable public peer.

Peer Set

Compare Top 5

vs NCLH, RCL, CCL, TNL

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

LIND SEC Filings & Documents

Lindblad Expeditions Holdings, Inc. (LIND) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 3, 2026·SEC

Material company update

Jun 11, 2026·SEC

Material company update

May 5, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 26, 2026·SEC

FY 2025

Feb 28, 2025·SEC

FY 2024

Mar 6, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 3, 2026·SEC

FY 2026

May 5, 2026·SEC

FY 2025

Nov 4, 2025·SEC

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LIND Frequently Asked Questions

Lindblad Expeditions Holdings, Inc. (LIND) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Lindblad Expeditions Holdings, Inc.'s revenue?

Lindblad Expeditions Holdings, Inc. (LIND) reported $830.6M in revenue for fiscal year 2025.

How fast is Lindblad Expeditions Holdings, Inc. growing?

Lindblad Expeditions Holdings, Inc. (LIND) grew revenue by 19.6% over the past year. This is strong growth.

Is LIND profitable?

Lindblad Expeditions Holdings, Inc. (LIND) reported a net loss of $17.3M for fiscal year 2025.

Dividend & Returns
What is Lindblad Expeditions Holdings, Inc.'s free cash flow?

Lindblad Expeditions Holdings, Inc. (LIND) generated $109.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in LIND back in 2011?

Total return calculator · dividends reinvested · 15+ years of data

See returns →