Latest Ratios: P/E Ratio 17.1x · EV/EBITDA 9.8x · ROE 14.6%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.2B | $1.5B | $1.4B | $1.4B | $1.8B | $1.8B | $1.1B | $954M | $1.0B | $926M | $787M |
| Enterprise Value | $1.1B | $1.4B | $1.3B | $1.3B | $1.8B | $1.8B | $1.1B | $943M | $988M | $921M | $802M |
| P/E Ratio → | 17.09 | 20.24 | 20.64 | 18.98 | 27.00 | 42.46 | 28.07 | 441.30 | 50.94 | 39.89 | 38.90 |
| P/S Ratio | 1.74 | 2.22 | 2.25 | 2.04 | 2.30 | 3.19 | 2.29 | 2.15 | 1.88 | 1.79 | 1.52 |
| P/B Ratio | 2.37 | 2.81 | 2.84 | 3.01 | 4.50 | 5.35 | 3.64 | 3.56 | 3.73 | 3.43 | 3.13 |
| P/FCF | 13.03 | 16.57 | 20.46 | 13.60 | — | 103.67 | 44.14 | — | 45.09 | 30.27 | 36.45 |
| P/OCF | 8.86 | 11.27 | 14.27 | 11.47 | 580.36 | 41.16 | 23.58 | 251.27 | 30.40 | 23.47 | 23.78 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.05 | 2.16 | 2.00 | 2.34 | 3.21 | 2.34 | 2.12 | 1.80 | 1.78 | 1.55 |
| EV / EBITDA | 9.76 | 12.70 | 13.89 | 11.10 | 16.36 | 24.84 | 15.09 | 46.84 | 17.93 | 16.19 | 15.66 |
| EV / EBIT | 12.07 | 14.36 | 15.92 | 12.94 | 19.56 | 33.02 | 20.72 | 137.18 | 25.63 | 22.76 | 23.34 |
| EV / FCF | — | 15.31 | 19.62 | 13.36 | — | 104.30 | 45.17 | — | 43.17 | 30.12 | 37.19 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 31.2% | 31.2% | 31.5% | 31.6% | 25.8% | 26.5% | 32.1% | 25.8% | 27.7% | 28.0% | 28.8% |
| Operating Margin | 13.0% | 13.0% | 12.6% | 15.2% | 12.3% | 9.5% | 11.4% | 1.4% | 7.0% | 7.8% | 6.7% |
| Net Profit Margin | 10.9% | 10.9% | 10.9% | 10.7% | 8.5% | 7.5% | 8.1% | 0.5% | 3.7% | 4.5% | 3.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 14.6% | 14.6% | 14.1% | 17.1% | 17.9% | 13.4% | 13.6% | 0.8% | 7.4% | 8.9% | 7.5% |
| ROA | 9.3% | 9.3% | 8.8% | 9.9% | 9.7% | 7.0% | 7.2% | 0.4% | 4.0% | 4.6% | 3.9% |
| ROIC | 15.7% | 15.7% | 13.4% | 17.9% | 18.3% | 12.1% | 14.0% | 1.9% | 11.6% | 11.3% | 9.7% |
| ROCE | 13.2% | 13.2% | 12.3% | 17.6% | 18.1% | 11.2% | 12.2% | 1.5% | 9.2% | 9.7% | 8.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.26 | 0.26 | 0.28 | 0.30 | 0.35 | 0.41 | 0.49 | 0.43 | 0.42 | 0.43 | 0.47 |
| Debt / EBITDA | 1.25 | 1.25 | 1.42 | 1.12 | 1.26 | 1.88 | 2.00 | 5.76 | 2.12 | 2.06 | 2.29 |
| Net Debt / Equity | — | -0.21 | -0.12 | -0.05 | 0.09 | 0.03 | 0.09 | -0.04 | -0.16 | -0.02 | 0.06 |
| Net Debt / EBITDA | -1.05 | -1.05 | -0.60 | -0.20 | 0.30 | 0.15 | 0.35 | -0.55 | -0.80 | -0.08 | 0.31 |
| Debt / FCF | — | -1.26 | -0.85 | -0.24 | — | 0.63 | 1.04 | — | -1.92 | -0.15 | 0.74 |
| Interest Coverage | 52.60 | 52.60 | 25.44 | 27.50 | 21.58 | 11.61 | 11.26 | 1.44 | 8.22 | 8.51 | 7.24 |
Net cash position: cash ($251M) exceeds total debt ($137M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.71 | 3.71 | 3.92 | 3.58 | 2.96 | 3.01 | 3.40 | 3.82 | 4.13 | 3.18 | 3.32 |
| Quick Ratio | 2.76 | 2.76 | 2.69 | 2.44 | 1.76 | 1.96 | 2.37 | 2.69 | 3.14 | 2.25 | 2.47 |
| Cash Ratio | 1.75 | 1.75 | 1.52 | 1.22 | 0.72 | 1.06 | 1.38 | 1.55 | 2.01 | 1.32 | 1.15 |
| Asset Turnover | — | 0.80 | 0.80 | 0.90 | 1.08 | 0.89 | 0.83 | 0.89 | 1.09 | 1.02 | 1.03 |
| Inventory Turnover | 3.40 | 3.40 | 2.69 | 2.96 | 2.95 | 2.87 | 3.07 | 3.57 | 5.00 | 4.33 | 4.92 |
| Days Sales Outstanding | — | 60.99 | 70.11 | 78.39 | 65.45 | 60.19 | 65.05 | 62.10 | 46.05 | 52.04 | 56.98 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.2% | 1.1% | 1.1% | 1.1% | 0.8% | 0.8% | 1.3% | 1.4% | 1.3% | 1.3% | 1.6% |
| Payout Ratio | 21.3% | 21.3% | 23.3% | 20.8% | 22.3% | 33.3% | 35.3% | 615.8% | 64.1% | 53.9% | 60.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.9% | 4.9% | 4.8% | 5.3% | 3.7% | 2.4% | 3.6% | 0.2% | 2.0% | 2.5% | 2.6% |
| FCF Yield | 7.7% | 6.0% | 4.9% | 7.4% | — | 1.0% | 2.3% | — | 2.2% | 3.3% | 2.7% |
| Buyback Yield | 1.0% | 0.8% | 1.6% | 0.0% | 0.0% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 6.2% |
| Total Shareholder Yield | 2.2% | 1.8% | 2.8% | 1.1% | 0.8% | 0.9% | 1.4% | 1.5% | 1.3% | 1.4% | 7.8% |
| Shares Outstanding | — | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying LNN stock.
Lindsay Corporation's current P/E ratio is 17.1x. The historical average is 27.9x. This places it at the 7th percentile of its historical range.
Lindsay Corporation's current EV/EBITDA is 9.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.3x.
Lindsay Corporation's return on equity (ROE) is 14.6%. The historical average is 13.4%.
Based on historical data, Lindsay Corporation is trading at a P/E of 17.1x. This is at the 7th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Lindsay Corporation's current dividend yield is 1.25% with a payout ratio of 21.3%.
Lindsay Corporation has 31.2% gross margin and 13.0% operating margin. Operating margin between 10-20% is typical for established companies.
Lindsay Corporation's Debt/EBITDA ratio is 1.3x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Working Capital Volatility & Margin Pressure
Metrics are mathematically derived from official filings.
Growth-Adjusted Discount to Peers
Lindsay trades at a P/E of 17.1x, a modest discount to the peer median, and a PEG ratio of 1.25, suggesting its valuation is pricing in neither significant growth acceleration nor severe contraction relative to its cyclical industrial peers.
The forward P/E of 22.1x represents a significant premium to the trailing P/E, which may imply analyst expectations for an earnings recovery. However, this premium appears less compelling when compared to peers like AAON, which commands a much higher multiple, suggesting Lindsay is valued as a more cyclical, lower-growth name within the industrial machinery space.
Margin Oscillation Limits Earnings Clarity
Net margin has swung between 7.0% and 14.6% over the past ten quarters, with the most recent quarter at 9.8%, a pattern that obscures underlying earning power and suggests significant sensitivity to revenue volume and product mix.
Gross margin volatility is the primary driver, reflecting inconsistent pricing power or cost absorption during demand shifts. The operating margin of 11.5% in the latest quarter remains below the 10-quarter high of 17.2%, indicating that overhead costs may be preventing the full benefit of margin improvement at the gross profit level from flowing to the bottom line.
Decaying Returns on Invested Capital
ROIC has trended down from a peak of 5.3% in 2025Q2 to 2.9% in 2026Q3, indicating a deterioration in the company's ability to generate returns on its capital base, which appears to be driven more by margin compression than a decline in asset turnover.
This downward trend in ROIC contrasts with the modest improvement in asset turnover, suggesting that the core issue is a profitability problem rather than an efficiency one. The return on equity (ROE) decline to 3.1% further confirms that shareholder capital is generating progressively lower returns, which may not support the current valuation multiple if the trend persists.
Lengthening Cash Conversion Cycle
The cash conversion cycle has remained elevated, ending at 151 days in 2026Q3, driven by a prolonged days inventory outstanding of 118 days, which signals potential inventory management challenges or a strategic buildup ahead of anticipated demand.
While days sales outstanding (DSO) has been relatively stable, the increase in days inventory outstanding (DIO) is the primary contributor to the long CCC. This may indicate that inventory is turning slower, potentially tying up working capital and increasing the risk of obsolescence if market conditions do not improve, a concern that aligns with the prior finding of volatile cash flows.
Eroding Current Ratio Amidst Contraction
The current ratio has declined from 3.95 to 2.93 over the past two years, a substantial deterioration that, while still indicating a solvent position, suggests a shrinking liquidity buffer that could become constrained if operating losses persist.
The quick ratio has followed a similar downward trajectory, falling from 2.69 to 2.04, confirming the trend is not inventory-driven. This erosion in liquidity, combined with the negative free cash flow in two of the last four quarters, warrants monitoring as it may limit financial flexibility for strategic initiatives or to weather a prolonged cyclical downturn.
Misapplied Valuation: Price-to-Book
The Price-to-Book (P/B) ratio of 2.38 is frequently misapplied to Lindsay, as it obscures the true nature of its capital assets and overstates the relationship between market value and tangible asset backing in an industry with significant intangible components.
Lindsay's balance sheet includes approximately 10.3% in goodwill and intangible assets, making book value a poor proxy for the capital deployed in core operations. A more relevant metric for assessing valuation against peers would be EV/EBITDA, which focuses on operating performance and excludes the distortions from historical acquisition accounting and varying capital structures.