Upside case
Bull case
$4-89.3%
The bull case requires both strong earnings delivery and the market pricing LINE more generously than it does today.
Analysis OverviewHoldUpdated Jun 18, 2026
Lineage, Inc. (LINE) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Hold
Covering
16
analysts
3 bullish · 3 bearish · 16 covering LINE
Strong Buy
0
Buy
3
Hold
10
Sell
3
Strong Sell
0
Consensus Target
$42
+1.5% vs today
Scenario Range
$2 – $4
Model bear to bull value window
Coverage
16
Published analyst ratings
Valuation Context
—
Forward P/E · Market cap $9.4B
LINE price targets
Three scenarios for where LINE stock could go
Current
~$41
Confidence
43 / 100
Updated
Jun 18, 2026
Where we are now
Current · $41
Bear
$2
Base
$3
Bull
$4
Market caseClosest to today
Base case
$3-91.9%
The base case reflects analyst consensus expectations — steady delivery without requiring a major catalyst or re-rating.
Stress case
Bear case
$2-94.9%
The bear case assumes sentiment or fundamentals disappoint enough to push LINE down roughly 95% from the current price.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Lineage, Inc.
LINE · NASDAQReal EstateREIT - IndustrialDecember year-end
Lineage is a temperature-controlled industrial real estate company that operates a global network of cold storage warehouses. It generates revenue primarily through warehouse leasing fees — with its Global Warehousing segment contributing the majority — supplemented by specialized cold-chain logistics services. The company's competitive advantage lies in its massive scale as the world's largest temperature-controlled warehouse operator, creating network effects and operational efficiencies across its global footprint.
Market Cap
$9.4B
Revenue TTM
$5.4B
Net Income TTM
-$146M
Net Margin
-2.7%
LINE Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
25%Exceptional
12 quarters tracked
Revenue Beat Rate
13%Exceptional
vs consensus estimates
Avg EPS Surprise
-69.4%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 2 of 4Q3 2025
EPS
$-0.03/$0.75
Revenue
$1.4B/$1.4B
Q4 2025
EPS
$-0.44/$0.78
Revenue
$1.4B/$1.4B
Q1 2026
EPS
$0.03/$-0.08
Revenue
$1.3B/$1.4B
Q2 2026
EPS
$-0.18/$-0.23
Revenue
$1.3B/$1.3B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $-0.03/$0.75 | -104.0% | $1.4B/$1.4B | -3.3% |
| Q4 2025 | $-0.44/$0.78 | -156.4% | $1.4B/$1.4B | -0.1% |
| Q1 2026 | $0.03/$-0.08 | +136.7% | $1.3B/$1.4B | -3.0% |
| Q2 2026 | $-0.18/$-0.23 | +20.1% | $1.3B/$1.3B | -1.2% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$5.8B
+7.9% YoY
FY2
$6.1B
+4.6% YoY
EPS Outlook
FY1
$0.21
-3.0% YoY
FY2
$0.21
-1.2% YoY
Trailing FCF (TTM)$153M
FCF Margin: 2.9%
Next Earnings
August 5, 2026
Expected EPS
$-0.22
Expected Revenue
$1.4B
LINE beat EPS estimates in 2 of 4 tracked quarters. Mixed delivery makes the upcoming report a key data point for re-rating.
LINE Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $9.1B
Product Mix
Latest annual revenue by segment or product family
Segment breakdown not available for this company.
Geographic Mix
Latest annual revenue by reported region
North America
41.2%
+1.3% YoY
Tap, hover, or focus a slice to inspect segment detail.
North America is the largest reported region at 41.2%, up 1.3% YoY.
LINE Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Fair versus peers
Fair value est. $41 — implies -0.6% from today's price.
Premium to Fair Value
0.6%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
LINE
-96.2x
vs
S&P 500
24.4x
494% discount
vs Real Estate Trailing P/E
LINE
-96.2x
vs
Real Estate
24.1x
500% discount
vs LINE 5Y Avg P/E
Today
-96.2x
vs
5Y Average
—
Benchmark unavailable
Forward PE
—
S&P 500
18.8x
—
Real Estate
25.1x
—
5Y Avg
—
—
Trailing PE
-96.2x
S&P 500
24.4x
-494%
Real Estate
24.1x
-500%
5Y Avg
—
—
PEG Ratio
—
S&P 500
1.66x
—
Real Estate
1.34x
—
5Y Avg
—
—
EV/EBITDA
15.7x
S&P 500
15.2x
+3%
Real Estate
17.0x
-7%
5Y Avg
14.5x
+9%
Price/FCF
48.1x
S&P 500
20.7x
+132%
Real Estate
15.4x
+211%
5Y Avg
40.7x
+18%
Price/Sales
1.8x
S&P 500
3.1x
-43%
Real Estate
3.0x
-42%
5Y Avg
1.8x
-2%
Dividend Yield
5.69%
S&P 500
1.91%
+197%
Real Estate
4.62%
+23%
5Y Avg
4.41%
+29%
| Metric | LINE | S&P 500 | Real Estate | 5Y Avg LINE |
|---|---|---|---|---|
| Forward PE | — | 18.8x | 25.1x | — |
| Trailing PE | -96.2x | 24.4x-494% | 24.1x-500% | — |
| PEG Ratio | — | 1.66x | 1.34x | — |
| EV/EBITDA | 15.7x | 15.2x | 17.0x | 14.5x |
| Price/FCF | 48.1x | 20.7x+132% | 15.4x+211% | 40.7x+18% |
| Price/Sales | 1.8x | 3.1x-43% | 3.0x-42% | 1.8x |
| Dividend Yield | 5.69% | 1.91% | 4.62% | 4.41% |
LINE trades above S&P 500 benchmarks on 1 of 4 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolLINE Financial Health
Verdict
Stressed
LINE pays 6.7% total shareholder yield with 4.5% operating margin. Leverage is structural for REITs — debt capacity matters more than absolute ratio.
Property Operations
Revenue, margins, and distribution coverage
Revenue (TTM)
Trailing-twelve-month sales base
$5.4B
Revenue Growth
TTM vs prior year
+1.1%
Gross Margin
Gross profit as a share of revenue
11.1%
Operating Margin
Operating income divided by revenue
4.5%
Net Margin
Net income divided by revenue
-2.7%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$-0.64
Operating Margin
NOI-equivalent margin — key for REIT property economics
4.5%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
1.1%
ROA
Return on assets, trailing twelve months
-0.8%
Cash & Equivalents
Liquid assets on the balance sheet
$66M
Net Debt
Total debt minus cash
$8.6B
Leverage (Net Debt / FCF)
REITs carry structural leverage — higher ratios are expected
56.2× FCF
Asset-heavy model means debt/FCF above 10× is common and not a distress signal.
ROE
Return on equity, trailing twelve months
-1.6%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
6.7%
Dividend
5.7%
Buyback
1.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$94M
Dividend / Share
Annualized trailing dividend per share
$2.36
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Declining as buybacks retire shares
228M
All figures from the trailing twelve months. REITs carry structural leverage — debt/FCF ratios above 10× are normal and do not indicate distress.
Open full ratios pageLINE Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
Based on the latest company results, valuation, and market data
High Risk
North America exposure
North America represents 41.2% of disclosed revenue and changed 1.3% year over year. A sharper slowdown, policy change, or competitive shift in that market would hit the revenue base quickly and could pull expectations toward the lower end of the valuation range.
Medium
Valuation de-rating
LINE trades at -96.2x trailing earnings versus 24.4x for the S&P 500 and 24.1x for its sector. If earnings delivery or sentiment slips, the stock could re-rate lower and move closer to the bear case target of $2.
Medium
Estimate execution
The next fiscal year requires Street estimates of $5.8B in revenue (7.9% growth) and $0.21 in EPS. Missing those operating targets would undermine the premium multiple investors are paying today.
Lower
Capital return support
Part of the per-share support comes from capital returns, backed by $153M in trailing free cash flow, a 1.0% buyback yield, and a 5.7% dividend yield. If cash generation softens, the EPS lift and downside cushion from repurchases can narrow.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why LINE Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
Based on recent company results and analyst estimates
High-margin cash engine
Lineage, Inc. already operates from a position of scale, with 11.1% gross margin, 4.5% operating margin, and $153M in trailing free cash flow. That combination gives management room to keep funding product investment without relying on outside capital.
Multiple growth levers remain
Lineage, Inc. still has room to compound if management converts its existing scale into steadier revenue growth and margin discipline. The bull case does not require perfection; it requires the core business to keep translating operating strength into higher per-share earnings.
Upside and capital returns align
Consensus still points to $42, or 1.5% upside, while the modeled bull target reaches $4. If $5.8B in forward revenue and $0.21 in EPS are delivered, ongoing shareholder returns running at 6.7% can amplify the equity upside.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
LINE Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$41.38
52W Range Position
66%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$31.33
+32.1% from the low
52-Week High
$46.61
-11.2% from the high
1 Month
+5.86%
3 Month
+9.41%
YTD
+16.8%
1 Year
-7.1%
3Y CAGR
-20.0%
5Y CAGR
-12.5%
10Y CAGR
-6.5%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
LINE vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
—
vs 41.5x median
Peer median unavailable
Revenue Growth
+7.9%
vs +8.1% median
-2% below peer median
Net Margin
-2.7%
vs 28.8% median
-109% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
LIN LINE Lineage, Inc. | $9.4B | — | +7.9% | -2.7% | Hold | +1.5% |
COL COLD Americold Realty Trust, Inc. | $4.0B | 569.6x | +1.4% | -4.3% | Buy | +7.1% |
NSA NSA National Storage Affiliates Trust | $3.4B | 73.3x | +8.5% | 11.9% | Hold | -18.6% |
CUB CUBE CubeSmart | $9.3B | 28.0x | +7.0% | 28.9% | Hold | +1.7% |
EXR EXR Extra Space Storage Inc. | $30.7B | 31.3x | +8.9% | 28.8% | Hold | +5.3% |
PLD PLD Prologis, Inc. | $134.6B | 41.5x | +8.1% | 37.9% | Buy | +3.6% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
LINE Dividend and Capital Return
LINE returns 6.7% total yield, led by a 5.69% dividend. Buybacks add another 1.0%.
Dividend UnknownFCF Stretched
Total Shareholder Yield
6.7%
Dividend + buyback return per year
Buyback Yield
1.0%
Dividend Yield
5.69%
Payout Ratio
—
How LINE Splits Its Return
Div 5.69%
Dividend 5.69%Buybacks 1.0%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$2.36
Growth Streak
Consecutive years of dividend increases
2Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
Semi-Annual
5 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$94M
Estimated Shares Retired
2M
Approx. Share Reduction
1.0%
Shares Outstanding
Current diluted share count from the screening snapshot
228M
At 1.0%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $1.06 | — | — | — |
| 2025 | $2.11 | +132.5% | 1.2% | 7.9% |
| 2024 | $0.91 | — | 0.9% | 3.0% |
FAQ
7 questionsLINE Investor Questions
Common questions answered from live analyst data and company financials.
01Is Lineage, Inc. (LINE) stock a buy or sell in 2026?
Lineage, Inc. (LINE) is rated Hold by Wall Street analysts as of 2026. Of 16 analysts covering the stock, 3 rate it Buy or Strong Buy, 10 rate it Hold, and 3 rate it Sell or Strong Sell. The consensus 12-month price target is $42, implying +1.5% from the current price of $41. The bear case scenario is $2 and the bull case is $4.
02What is the LINE stock price target for 2026?
The Wall Street consensus price target for LINE is $42 based on 16 analyst estimates. The high-end target is $47 (+13.6% from today), and the low-end target is $35 (-15.4%). The base case model target is $3.
03Is Lineage, Inc. (LINE) stock overvalued in 2026?
Forward earnings data for LINE is not currently available. Review the valuation table above for trailing P/E, EV/EBITDA, and price-to-sales comparisons against market and sector benchmarks.
04What are the main risks for Lineage, Inc. (LINE) stock in 2026?
The primary risks for LINE in 2026 are: (1) North America exposure — North America represents 41. (2) Valuation de-rating — LINE trades at -96. (3) Estimate execution — The next fiscal year requires Street estimates of $5. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Lineage, Inc.'s revenue and earnings forecast?
Analyst consensus estimates LINE will report consensus revenue of $5.8B (+7.9% year-over-year) and EPS of $0.21 (-3.0% year-over-year) for the upcoming fiscal year. The following year, analysts project $6.1B in revenue.
06When does Lineage, Inc. (LINE) report its next earnings?
Lineage, Inc. is expected to report its next earnings on approximately 2026-08-05. Consensus expects EPS of $-0.22 and revenue of $1.4B. Over recent quarters, LINE has beaten EPS estimates 25% of the time.
07How much free cash flow does Lineage, Inc. generate?
Lineage, Inc. (LINE) generated $153M in free cash flow over the trailing twelve months — a free cash flow margin of 2.9%. LINE returns capital to shareholders through dividends (5.7% yield) and share repurchases ($94M TTM).