What is Lindblad Expeditions Holdings Inc.'s earnings per share (EPS)?

Lindblad Expeditions Holdings Inc. (LIND) reported diluted earnings per share of -$0.63 for fiscal year 2025. This represents a 6.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Lindblad Expeditions Holdings Inc. (LIND) Financials

LIND

Trailing 12 months to June 30, 2026

Revenue $830.6M +18.3% YoY

Net Income -$22.1M -52.6% YoY

EPS (Diluted) -$0.38 -22.6% YoY

Free Cash Flow $109.0M +86.0% YoY

Market Cap $2.4B as of Oct 6, 2026

Price / Sales 2.9x on $830.6M revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026

Price / Book n/m negative shareholder equity, so no book multiple, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 6, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 3, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 3, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LIND SEC filings page.

Lindblad Expeditions Holdings Inc. (LIND) reported $830.6M in revenue over the twelve months to Jun 30, 2026, up 18.3% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI LIND FY2025 2026-10-03

Lindblad is scaling into a cash-generating operating business, but heavy financing costs and negative equity still shape its economics.

By FY2025, operating cash flow reached $111.6M and free cash flow reached $63.8M even as the company posted a net loss of $34.6M, indicating reported earnings remain weaker than current cash generation. Operating income of $45.5M was nearly matched by interest expense of $45.2M, so improved operations were largely absorbed before reaching net income.

Gross margin widened from 32.8% in FY2022 to 45.8% in FY2025. Operating margin moved from -14.9% to 5.9% over the same span, showing that improved unit economics are now reaching overhead and producing operating profit.

Liabilities reached $1.13B against $979.9M of assets in FY2025, so creditors’ claims exceeded the asset base. Equity was negative at $284.5M and the current ratio was only 0.8x, meaning short-term obligations still exceeded current assets despite stronger cash generation.

Financial Health Signals

Financial Health Score 40/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Lindblad Expeditions Holdings Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Lindblad Expeditions Holdings Inc. has an operating margin of 5.9%, meaning the company retains $6 of operating profit per $100 of revenue. This results in a moderate score of 40/100, indicating healthy but not exceptional operating efficiency. This is up from 3.3% the prior year.

Growth

Lindblad Expeditions Holdings Inc.'s revenue surged 19.6% year-over-year to $771.0M, reflecting rapid business expansion. This strong growth earns a score of 78/100.

Leverage

Liquidity

Lindblad Expeditions Holdings Inc.'s current ratio of 0.80 is below the typical benchmark, resulting in a score of 11/100. However, the company holds substantial cash reserves (56% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.

Cash Flow

Lindblad Expeditions Holdings Inc. has a free cash flow margin of 8.3%, earning a moderate score of 53/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Altman Z-Score Distress

1.49

Lindblad Expeditions Holdings Inc. scores 1.49, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($2.4B) relative to total liabilities ($1.1B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Strong

7/9

Lindblad Expeditions Holdings Inc. passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

N/A

Lindblad Expeditions Holdings Inc. reported a net loss of $34.6M while generating $111.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Interest Coverage At Risk

1.01x

Lindblad Expeditions Holdings Inc. earns $1.01 in operating income for every $1 of interest expense ($45.5M vs $45.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$199.2M

YoY+18.6%

QoQ-4.2%

5Y CAGR+67.2%

Lindblad Expeditions Holdings Inc. generated $199.2M in revenue in Q2 2026. This represents an increase of 18.6% from the same quarter a year earlier. Against the prior quarter it is down 4.2%.

EBITDA

$30.4M

YoY+59.5%

QoQ-8.5%

Lindblad Expeditions Holdings Inc.'s EBITDA was $30.4M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 59.5% from the same quarter a year earlier. Against the prior quarter it is down 8.5%.

Net Income

-$1.4M

YoY+83.5%

QoQ-121.6%

Lindblad Expeditions Holdings Inc. reported -$1.4M in net income in Q2 2026. This represents an increase of 83.5% from the same quarter a year earlier. Against the prior quarter it is down 121.6%.

EPS (Diluted)

-$0.02

YoY+88.9%

QoQ-122.2%

Lindblad Expeditions Holdings Inc. earned -$0.02 per diluted share (EPS) in Q2 2026. This represents an increase of 88.9% from the same quarter a year earlier. Against the prior quarter it is down 122.2%.

Cash & Balance Sheet

Free Cash Flow

$51.1M

YoY+279.0%

QoQ+19.9%

5Y CAGR+47.5%

Lindblad Expeditions Holdings Inc. generated $51.1M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 279.0% from the same quarter a year earlier. Against the prior quarter it is up 19.9%.

Cash & Debt

$318.9M

YoY+58.7%

QoQ+16.0%

5Y CAGR+14.8%

10Y CAGR+7.8%

Lindblad Expeditions Holdings Inc. held $318.9M in cash against $663.9M in long-term debt as of Q2 2026.

Shares Outstanding

66M

YoY+19.8%

QoQ+0.1%

5Y CAGR+5.5%

10Y CAGR+3.6%

Lindblad Expeditions Holdings Inc. had 66M shares outstanding in Q2 2026. This represents an increase of 19.8% from the same quarter a year earlier. Against the prior quarter it is up 0.1%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

48.5%

YoY+2.9pp

QoQ-0.2pp

5Y change+75.5pp

Lindblad Expeditions Holdings Inc.'s gross margin was 48.5% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 2.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.2 percentage points.

Operating Margin

6.0%

YoY+3.4pp

QoQ-1.5pp

Lindblad Expeditions Holdings Inc.'s operating margin was 6.0% in Q2 2026, reflecting core business profitability. This is up 3.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.5 percentage points.

Net Margin

-0.7%

YoY+4.4pp

QoQ-3.8pp

Lindblad Expeditions Holdings Inc.'s net profit margin was -0.7% in Q2 2026, showing the share of revenue converted to profit. This is up 4.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.8 percentage points.

Return on Equity

Not reported for Q2 2026.

Capital Allocation

Capital Expenditures

$8.0M

YoY-49.2%

QoQ+16.2%

5Y CAGR-17.9%

10Y CAGR-11.1%

Lindblad Expeditions Holdings Inc. invested $8.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 49.2% from the same quarter a year earlier. Against the prior quarter it is up 16.2%.

R&D Spending

Not reported for Q2 2026.

Share Buybacks

Not reported for Q2 2026.

LIND Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

LIND quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Revenue	$830.6M	$771.0M+19.6%	$644.7M+13.2%	$569.5M+35.1%	$421.5M+186.5%	$147.1M+78.6%	$82.4M-76.0%	$343.1M+10.8%	$309.7M+16.2%	$266.5M+10.0%	$242.3M+15.4%	$210.0M+5.8%	$198.5M+3.2%	$192.2M	N/A
Cost of Revenue	$443.1M	$418.0M+15.3%	$362.6M+7.2%	$338.2M+19.4%	$283.2M+127.5%	$124.5M+70.7%	$72.9M-56.2%	$166.6M+8.4%	$153.7M+13.4%	$135.5M+13.9%	$119.0M+24.7%	$95.4M+6.0%	$90.0M-6.9%	$96.7M	N/A
Gross Profit	$387.5M	$353.0M+25.1%	$282.1M+22.0%	$231.3M+67.3%	$138.3M+511.2%	$22.6M+140.0%	$9.4M-94.7%	$176.5M+13.1%	$156.0M+19.1%	$131.0M+6.2%	$123.4M+7.7%	$114.6M+5.6%	$108.5M+13.5%	$95.6M	N/A
SG&A Expenses	$132.4M	$130.0M+7.4%	$121.0M+18.0%	$102.6M+6.5%	$96.3M+47.1%	$65.4M+43.8%	$45.5M-27.5%	$62.7M-0.2%	$62.9M+3.9%	$60.5M+16.6%	$51.9M+33.1%	$39.0M+8.2%	$36.1M+18.5%	$30.4M	N/A
Operating Income	$58.0M	$45.5M+111.0%	$21.6M+103.3%	$10.6M+116.8%	-$63.0M+43.1%	-$110.8M-25.4%	-$88.4M-366.3%	$33.2M+31.0%	$25.3M+135.8%	$10.7M-23.2%	$14.0M-9.8%	$15.5M-49.0%	$30.4M+29.3%	$23.5M+493430.5%	-$5K
EBITDA	N/A	$108.3M+46.1%	$74.1M+29.3%	$57.3M+401.6%	-$19.0M+73.3%	-$71.3M-26.6%	-$56.3M-195.5%	$59.0M+27.9%	$46.1M+64.1%	$28.1M-9.6%	$31.1M+16.0%	$26.8M-35.1%	$41.3M+19.0%	$34.7M	N/A
Interest Expense	-$43.1M	-$45.2M+1.1%	-$45.7M-1.6%	-$45.0M-20.1%	-$37.5M-52.6%	-$24.6M-47.2%	-$16.7M-35.8%	-$12.3M-13.5%	-$10.8M-11.2%	-$9.7M+4.0%	-$10.1M+6.9%	-$10.9M-26248.4%	$42K+306.3%	$10K	N/A
Income Tax	$3.6M	$2.5M-20.3%	$3.1M-1.3%	$3.1M-48.2%	$6.1M+400.9%	-$2.0M+79.4%	-$9.8M-547.7%	$2.2M+255.5%	$616K-93.8%	$10.0M+412.6%	-$3.2M-20.8%	-$2.6M-194.6%	$2.8M+68.4%	$1.7M	N/A
Net Income	-$22.1M	-$34.6M+3.4%	-$35.8M+28.4%	-$50.0M+56.9%	-$116.1M+6.9%	-$124.7M-26.3%	-$98.7M-703.8%	$16.4M+44.1%	$11.4M+231.1%	-$8.7M-278.1%	$4.9M-75.4%	$19.7M-11.3%	$22.2M+49.9%	$14.8M+311425.5%	-$5K
EPS (Basic)	N/A	-$0.63+6.0%	-$0.67+28.7%	-$0.94+57.8%	-$2.23+7.5%	-$2.41-19.9%	-$2.01-793.1%	$0.29+16.0%	$0.25+231.6%	-$0.19-272.7%	$0.11-75.0%	$0.44	N/A	N/A	N/A
EPS (Diluted)	-$0.38	-$0.63+6.0%	-$0.67+28.7%	-$0.94+57.8%	-$2.23+7.5%	-$2.41-19.9%	-$2.01-817.9%	$0.28+16.7%	$0.24+226.3%	-$0.19-290.0%	$0.10-76.7%	$0.43	$0.44	N/A	N/A
Diluted Shares (Avg)	N/A	55M+2.1%	54M+1.1%	53M+2.4%	52M+3.8%	50M+0.7%	50M+0.6%	49M+6.7%	46M+4.0%	45M-4.0%	46M+1.9%	46M	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$199.2M+18.6%	$208.0M+15.7%	$183.2M+23.3%	$240.2M+16.6%	$167.9M+23.0%	$179.7M+17.0%	$148.6M+18.5%	$206.0M+17.1%
Cost of Revenue	$102.6M+12.3%	$106.7M+15.0%	$109.4M+28.1%	$124.4M+13.3%	$91.4M+10.2%	$92.8M+9.9%	$85.4M-8.1%	$109.8M+14.9%
Gross Profit	$96.6M+26.2%	$101.3M+16.6%	$73.8M+16.7%	$115.8M+20.3%	$76.6M+43.0%	$86.9M+25.6%	$63.2M+94.9%	$96.2M+19.7%
SG&A Expenses	$34.2M+9.9%	$32.0M-2.1%	$31.4M-10.2%	$34.8M+20.0%	$31.1M+4.2%	$32.7M+20.1%	$34.9M+105.4%	$29.0M-3.4%
Operating Income	$12.0M+171.3%	$15.6M+47.1%	-$5.5M+27.3%	$36.0M+22.0%	$4.4M+153.7%	$10.6M+35.2%	-$7.6M+45.3%	$29.5M+44.0%
EBITDA	$30.4M+59.5%	$33.3M+28.5%	$12.4M+70.0%	$50.9M+20.6%	$19.1M+251.5%	$25.9M+35.2%	$7.3M+1022.3%	$42.2M+36.2%
Interest Expense	-$10.5M+9.7%	-$10.6M+9.0%	-$10.7M+7.5%	-$11.3M-0.2%	-$11.6M-2.6%	-$11.6M-0.4%	-$11.6M-1.6%	-$11.2M+2.2%
Income Tax	$1.4M+163.1%	-$1.2M+17.5%	$6.0M+16.0%	-$2.6M+62.0%	$547K-87.7%	-$1.5M-709.0%	$5.2M+230.6%	-$6.7M-225000.0%
Net Income	-$1.4M+83.5%	$6.5M+459.9%	-$28.4M+4.2%	$1.2M-94.7%	-$8.5M+65.5%	$1.2M+129.2%	-$29.7M+6.7%	$22.5M+299.3%
EPS (Basic)	-$0.02+88.9%	$0.10	-$0.45+8.2%	$0.00-100.0%	-$0.18+62.5%	$0.00+100.0%	-$0.49+9.3%	$0.39+387.5%
EPS (Diluted)	-$0.02+88.9%	$0.09	-$0.45+8.2%	$0.00-100.0%	-$0.18+62.5%	$0.00+100.0%	-$0.49+9.3%	$0.36+350.0%
Diluted Shares (Avg)	65M+19.9%	61M+11.9%	N/A	56M-11.2%	55M+2.0%	55M+2.3%	N/A	63M+17.2%

Not reported in any period shown, so not listed: R&D Expenses.

LIND Balance Sheet

LIND quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Total Assets	$980.0M+11.8%	$876.9M+5.5%	$831.3M+5.5%	$788.0M-4.8%	$827.5M+9.2%	$757.4M+38.1%	$548.7M+15.9%	$473.4M+11.6%	$424.3M+4.1%	$407.7M+6.8%	$381.6M+55.2%	$245.9M+22.7%	$200.4M+119362.1%	$168K
Current Assets	$367.9M+32.1%	$278.4M+13.9%	$244.5M+33.4%	$183.3M-12.8%	$210.3M-8.2%	$229.2M+56.3%	$146.6M-2.4%	$150.2M+14.0%	$131.7M-23.0%	$171.0M-27.0%	$234.3M+254.5%	$66.1M+15866.2%	$414K+15968.4%	$3K
Cash & Equivalents	$256.7M+39.6%	$183.9M+17.3%	$156.8M+79.9%	$87.2M-42.2%	$150.8M-19.6%	$187.5M+84.6%	$101.6M-10.4%	$113.4M+17.6%	$96.4M-28.8%	$135.4M-34.6%	$206.9M+421.4%	$39.7M-10.5%	$44.4M	N/A
Short-Term Investments	$0	$0	$0-100.0%	$13.6M	$0	$0	$0	$0	$0	$0	$0-100.0%	$10K+0.3%	$10K	N/A
Inventory	N/A	N/A	N/A	$2.0M-13.7%	$2.3M+5.1%	$2.2M+7.0%	$2.0M+26.4%	$1.6M-10.6%	$1.8M+7.7%	$1.7M-4.6%	$1.7M+2.7%	$1.7M	N/A	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	N/A
Goodwill	$60.6M+2.7%	$59.0M+40.5%	$42.0M0.0%	$42.0M0.0%	$42.0M+90.1%	$22.1M0.0%	$22.1M0.0%	$22.1M0.0%	$22.1M0.0%	$22.1M	N/A	N/A	N/A	N/A
Total Liabilities	$1.1B+10.9%	$1.0B+8.2%	$945.1M+8.2%	$873.6M+7.6%	$811.5M+28.6%	$631.2M+54.2%	$409.3M+16.7%	$350.9M+12.6%	$311.7M+8.0%	$288.7M+7.9%	$267.7M+50.1%	$178.4M+23.1%	$144.9M+373.3%	-$53.0M
Current Liabilities	$461.6M+17.6%	$392.5M+22.9%	$319.2M-6.4%	$341.1M+17.8%	$289.5M+85.8%	$155.8M-14.8%	$182.9M+14.7%	$159.4M+10.4%	$144.4M+16.5%	$123.9M+18.8%	$104.3M-17.1%	$125.9M+63772.4%	$197K+31.3%	$150K
Non-Current Liabilities	$671.9M+6.6%	$630.0M+0.7%	$625.8M+17.5%	$532.5M+2.0%	$522.1M+9.8%	$475.4M+110.0%	$226.4M+18.3%	$191.4M+14.4%	$167.3M+1.5%	$164.8M+0.9%	$163.4M+211.2%	$52.5M-63.7%	$144.7M+372.2%	-$53.1M
Long-Term Debt	$662.7M+6.0%	$625.4M+0.6%	$621.8M+17.4%	$529.5M+2.1%	$518.7M+10.0%	$471.4M+120.7%	$213.5M+13.5%	$188.1M+14.6%	$164.2M0.0%	$164.1M+0.9%	$162.7M+214.3%	$51.8M	N/A	N/A
Total Equity	-$284.5M-12.4%	-$253.1M-12.5%	-$225.1M-23.2%	-$182.7M-132.5%	-$78.6M-324.8%	$35.0M-71.6%	$123.3M+6.2%	$116.0M+9.1%	$106.3M-6.6%	$113.8M-0.1%	$113.9M+68.6%	$67.6M+21.6%	$55.6M+4.5%	$53.2M
Retained Earnings	-$411.4M-13.4%	-$362.9M-12.6%	-$322.2M-20.9%	-$266.5M-95.3%	-$136.4M-1079.0%	-$11.6M-114.2%	$81.7M+8.6%	$75.2M+17.8%	$63.8M-9.7%	$70.7M+7.4%	$65.8M+42.8%	$46.1M	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$1.0B+10.4%	$987.2M+8.6%	$980.0M+11.8%	$976.5M+9.7%	$936.5M+9.1%	$908.8M+4.7%	$876.9M+5.5%	$889.8M+4.5%
Current Assets	$442.7M+37.3%	$384.8M+30.1%	$367.9M+32.1%	$363.8M+26.4%	$322.5M+13.7%	$295.8M+3.2%	$278.4M+13.9%	$287.9M+11.1%
Cash & Equivalents	$318.9M+58.7%	$275.0M+45.6%	$256.7M+39.6%	$261.8M+35.0%	$200.9M+19.5%	$188.9M+6.3%	$183.9M+17.3%	$193.9M+15.4%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$60.6M+2.4%	$60.6M+2.4%	$60.6M+2.7%	$61.1M-9.8%	$59.2M+40.9%	$59.2M+40.9%	$59.0M+40.5%	$67.8M+61.4%
Total Liabilities	$1.2B+10.7%	$1.1B+9.0%	$1.1B+10.9%	$1.1B+9.2%	$1.1B+6.6%	$1.0B+6.6%	$1.0B+8.2%	$1.0B+7.3%
Current Liabilities	$524.8M+16.6%	$473.1M+12.5%	$461.6M+17.6%	$438.6M+13.6%	$450.1M+17.7%	$420.5M+17.6%	$392.5M+22.9%	$386.1M+21.0%
Non-Current Liabilities	$671.7M+6.5%	$670.9M+6.6%	$671.9M+6.6%	$666.7M+6.5%	$630.5M-0.1%	$629.4M+0.4%	$630.0M+0.7%	$626.1M+0.3%
Long-Term Debt	$663.9M+5.8%	$663.2M+5.9%	$662.7M+6.0%	$663.4M+6.2%	$627.3M+0.6%	$626.3M+0.6%	$625.4M+0.6%	$624.5M+0.6%
Total Equity	-$195.8M+25.8%	-$190.1M+24.6%	-$284.5M-12.4%	-$256.6M-13.1%	-$263.8M-3.3%	-$252.2M-10.9%	-$253.1M-12.5%	-$226.9M-14.4%
Retained Earnings	-$412.3M-8.0%	-$408.9M-11.8%	-$411.4M-13.4%	-$384.6M-14.9%	-$381.8M-7.6%	-$365.7M-12.0%	-$362.9M-12.6%	-$334.6M-15.1%

Not reported in any period shown, so not listed: Inventory, Accounts Receivable.

LIND Cash Flow Statement

LIND quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Operating Cash Flow	$142.5M	$111.6M+20.8%	$92.4M+263.0%	$25.4M+1254.8%	-$2.2M-106.8%	$32.5M+135.2%	-$92.3M-247.4%	$62.6M+11.0%	$56.4M+6.5%	$52.9M+68.4%	$31.4M-22.0%	$40.3M-6.4%	$43.1M+29.3%	$33.3M+948192.3%	-$4K
Depreciation & Amortization	N/A	$62.8M+19.5%	$52.6M+12.5%	$46.7M+6.1%	$44.0M+11.4%	$39.5M+23.2%	$32.1M+24.5%	$25.8M+24.1%	$20.8M+19.7%	$17.4M+1.5%	$17.1M+51.3%	$11.3M+3.7%	$10.9M-2.7%	$11.2M	N/A
Stock-Based Compensation	N/A	$13.5M+36.9%	$9.8M-29.2%	$13.9M+98.6%	$7.0M+25.7%	$5.6M+133.0%	$2.4M-33.2%	$3.6M-18.9%	$4.4M-58.5%	$10.6M+96.4%	$5.4M+10.1%	$4.9M+1693.1%	$274K	N/A	N/A
Capital Expenditures	$33.5M	$47.7M+42.4%	$33.5M+11.9%	$30.0M-21.6%	$38.2M-60.5%	$96.7M-37.8%	$155.5M+62.0%	$96.0M+76.7%	$54.3M-32.5%	$80.5M+6.0%	$75.9M+413.1%	$14.8M+149.9%	$5.9M-6.8%	$6.4M	N/A
Free Cash Flow	$109.0M	$63.8M+8.5%	$58.8M+1401.1%	-$4.5M+88.8%	-$40.4M+37.1%	-$64.2M+74.1%	-$247.7M-641.3%	-$33.4M-1761.0%	$2.0M+107.3%	-$27.6M+38.1%	-$44.5M-274.5%	$25.5M-31.3%	$37.1M+37.8%	$26.9M	N/A
Investing Cash Flow	-$37.4M	-$67.3M-52.6%	-$44.1M-197.8%	-$14.8M+70.2%	-$49.6M+56.8%	-$114.7M+26.2%	-$155.5M-55.3%	-$100.1M-84.2%	-$54.3M+32.5%	-$80.5M+6.3%	-$85.9M-5.4%	-$81.5M-181.1%	-$29.0M-181.4%	-$10.3M	N/A
Financing Cash Flow	$12.5M	$29.6M+249.6%	-$19.8M-132.6%	$60.7M+1345.7%	-$4.9M-109.7%	$50.4M-85.3%	$343.0M+1293.8%	$24.6M+49.0%	$16.5M+223.3%	-$13.4M+18.1%	-$16.4M-107.8%	$208.5M+1299.1%	-$17.4M+1.2%	-$17.6M-63881.8%	-$28K
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$1.9M	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$59.1M+102.1%	$49.5M+2.2%	$14.4M+759.6%	$19.5M-30.5%	$29.2M+56.6%	$48.4M+10.2%	$1.7M+117.0%	$28.1M+77.8%
Depreciation & Amortization	$18.5M+26.0%	$17.7M+15.5%	$17.9M+20.5%	$14.9M+17.3%	$14.7M+7.6%	$15.3M+35.2%	$14.9M+14.0%	$12.7M+21.0%
Stock-Based Compensation	$1.9M-64.8%	$1.7M-53.2%	N/A	$5.4M+116.0%	$5.4M+100.0%	$3.7M+76.1%	N/A	$2.5M-16.7%
Capital Expenditures	$8.0M-49.2%	$6.9M-48.7%	$11.0M+11.1%	$7.6M-21.9%	$15.7M+112.0%	$13.4M+107.4%	$9.9M+36.4%	$9.8M+21.8%
Free Cash Flow	$51.1M+279.0%	$42.6M+21.7%	$3.5M+142.4%	$11.9M-35.1%	$13.5M+20.0%	$35.0M-6.6%	-$8.2M+52.1%	$18.4M+135.2%
Investing Cash Flow	-$8.0M+49.2%	-$6.9M+76.3%	-$13.1M-35.5%	-$9.4M+54.2%	-$15.7M-112.0%	-$29.0M-348.3%	-$9.7M-33.9%	-$20.5M-156.0%
Financing Cash Flow	-$7.2M-573.5%	-$11.2M-3338.5%	-$1.7M-139.9%	$32.7M+4773.2%	-$1.1M+93.9%	-$327K+47.4%	-$709K-96.4%	-$699K-63.3%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

LIND Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

LIND quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Gross Margin	45.8%+2.0pp	43.8%+3.1pp	40.6%+7.8pp	32.8%+17.4pp	15.4%+3.9pp	11.4%-40.0pp	51.4%+1.1pp	50.4%+1.2pp	49.1%-1.8pp	50.9%-3.6pp	54.6%-0.1pp	54.6%+4.9pp	49.7%	N/A
Operating Margin	5.9%+2.6pp	3.3%+1.5pp	1.9%+16.8pp	-15.0%+60.4pp	-75.3%	-107.3%	9.7%+1.5pp	8.2%+4.1pp	4.0%-1.7pp	5.8%-1.6pp	7.4%-7.9pp	15.3%+3.1pp	12.2%	N/A
Net Margin	-4.5%+1.1pp	-5.5%+3.2pp	-8.8%+18.8pp	-27.5%+57.2pp	-84.8%	-119.9%	4.8%+1.1pp	3.7%+6.9pp	-3.3%-5.3pp	2.0%-7.4pp	9.4%-1.8pp	11.2%+3.5pp	7.7%	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	-282.4%-295.7pp	13.3%+3.5pp	9.8%+17.9pp	-8.2%-12.4pp	4.3%-13.1pp	17.3%-15.6pp	32.9%+6.2pp	26.7%+26.7pp	0.0%
Return on Assets	-3.5%+0.6pp	-4.1%+1.9pp	-6.0%+8.7pp	-14.7%+0.3pp	-15.1%-2.0pp	-13.0%-16.0pp	3.0%+0.6pp	2.4%+4.4pp	-2.0%-3.2pp	1.2%-4.0pp	5.2%-3.9pp	9.0%+1.6pp	7.4%+10.3pp	-2.8%
Current Ratio	0.80+0.1x	0.71-0.1x	0.77+0.2x	0.54-0.2x	0.73-0.7x	1.47+0.7x	0.80-0.1x	0.940.0x	0.91-0.5x	1.38-0.9x	2.25+1.7x	0.53-1.6x	2.10+2.1x	0.02
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	13.48+11.8x	1.73+0.1x	1.62+0.1x	1.54+0.1x	1.440.0x	1.43+0.7x	0.77-1.8x	2.61	N/A
Asset Turnover	0.79+0.1x	0.74+0.1x	0.69+0.2x	0.53+0.4x	0.18+0.1x	0.11-0.5x	0.630.0x	0.650.0x	0.630.0x	0.590.0x	0.55-0.3x	0.81-0.2x	0.96	N/A
FCF Margin	8.3%-0.9pp	9.1%+9.9pp	-0.8%+8.8pp	-9.6%+34.1pp	-43.6%	-300.8%	-9.7%-10.4pp	0.7%+11.0pp	-10.3%+8.0pp	-18.4%-30.5pp	12.1%-6.6pp	18.7%+4.7pp	14.0%	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	48.5%+2.9pp	48.7%+0.3pp	40.3%-2.3pp	48.2%+1.5pp	45.6%+6.3pp	48.3%+3.3pp	42.5%+16.7pp	46.7%+1.0pp
Operating Margin	6.0%+3.4pp	7.5%+1.6pp	-3.0%+2.1pp	15.0%+0.7pp	2.6%+8.6pp	5.9%+0.8pp	-5.1%+5.9pp	14.3%+2.7pp
Net Margin	-0.7%+4.4pp	3.1%+2.5pp	-15.5%+4.4pp	0.5%-10.4pp	-5.1%+13.0pp	0.7%+3.2pp	-20.0%+5.4pp	10.9%+7.7pp
Return on Assets	-0.1%+0.8pp	0.7%+0.5pp	-2.9%+0.5pp	0.1%-2.4pp	-0.9%+2.0pp	0.1%+0.6pp	-3.4%+0.4pp	2.5%+1.9pp
Current Ratio	0.84+0.1x	0.81+0.1x	0.80+0.1x	0.83+0.1x	0.720.0x	0.70-0.1x	0.71-0.1x	0.75-0.1x
Asset Turnover	0.190.0x	0.210.0x	0.190.0x	0.250.0x	0.180.0x	0.200.0x	0.170.0x	0.230.0x
FCF Margin	25.6%+17.6pp	20.5%+1.0pp	1.9%+7.4pp	5.0%-4.0pp	8.0%-0.2pp	19.5%-4.9pp	-5.5%+8.1pp	8.9%+4.5pp

Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.

Note: Shareholder equity is negative (-$284.5M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.80), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Lindblad Expeditions Holdings Inc. LIND	FY2025	$771.0M	-$34.6M	-4.5%	$2.4B	40/100
Pursuit Attractions and Hospitality, Inc. PRSU	FY2025	$452.4M	$22.7M	5.0%	$1.4B	55/100
TripAdvisor, Inc. TRIP	FY2025	$1.9B	$40.0M	2.1%	$1.0B	51/100
Travel + Leisure Co. TNL	FY2025	$4.0B	$230.2M	5.7%	$3.8B	33/100
Global Business Travel Group, Inc. GBTG	FY2025	$2.7B	$111.0M	4.1%	$5.0B	38/100
Tuniu Corporation TOUR	FY2025	$82.6M	$4.5M	5.4%	$53.6M	58/100

Where Lindblad Expeditions Holdings Inc. Ranks

Frequently Asked Questions

What is Lindblad Expeditions Holdings Inc.'s annual revenue?

Lindblad Expeditions Holdings Inc. (LIND) reported $771.0M in total revenue for fiscal year 2025. This represents a 19.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Lindblad Expeditions Holdings Inc.'s revenue growing?

Lindblad Expeditions Holdings Inc. (LIND) revenue grew by 19.6% year-over-year, from $644.7M to $771.0M in fiscal year 2025.

Is Lindblad Expeditions Holdings Inc. profitable?

No, Lindblad Expeditions Holdings Inc. (LIND) reported a net income of -$34.6M in fiscal year 2025, with a net profit margin of -4.5%.

What is Lindblad Expeditions Holdings Inc.'s EBITDA?

Lindblad Expeditions Holdings Inc. (LIND) had EBITDA of $108.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Lindblad Expeditions Holdings Inc. have?

As of fiscal year 2025, Lindblad Expeditions Holdings Inc. (LIND) had $256.7M in cash and equivalents against $662.7M in long-term debt.

What is Lindblad Expeditions Holdings Inc.'s gross margin?

Lindblad Expeditions Holdings Inc. (LIND) had a gross margin of 45.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Lindblad Expeditions Holdings Inc.'s operating margin?

Lindblad Expeditions Holdings Inc. (LIND) had an operating margin of 5.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Lindblad Expeditions Holdings Inc.'s net profit margin?

Lindblad Expeditions Holdings Inc. (LIND) had a net profit margin of -4.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Lindblad Expeditions Holdings Inc.'s free cash flow?

Lindblad Expeditions Holdings Inc. (LIND) generated $63.8M in free cash flow during fiscal year 2025. This represents a 8.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Lindblad Expeditions Holdings Inc.'s operating cash flow?

Lindblad Expeditions Holdings Inc. (LIND) generated $111.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Lindblad Expeditions Holdings Inc.'s total assets?

Lindblad Expeditions Holdings Inc. (LIND) had $980.0M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Lindblad Expeditions Holdings Inc.'s capital expenditures?

Lindblad Expeditions Holdings Inc. (LIND) invested $47.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Lindblad Expeditions Holdings Inc. have outstanding?

Lindblad Expeditions Holdings Inc. (LIND) had 65M shares outstanding as of fiscal year 2025.

What is Lindblad Expeditions Holdings Inc.'s current ratio?

Lindblad Expeditions Holdings Inc. (LIND) had a current ratio of 0.80 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Lindblad Expeditions Holdings Inc.'s return on assets (ROA)?

Lindblad Expeditions Holdings Inc. (LIND) had a return on assets of -3.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Lindblad Expeditions Holdings Inc.'s P/E ratio?

Lindblad Expeditions Holdings Inc. (LIND) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $2.4B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Lindblad Expeditions Holdings Inc.'s price-to-sales ratio?

Lindblad Expeditions Holdings Inc. (LIND) trades at 2.9x sales, its market capitalization divided by revenue of $830.6M revenue, trailing 12 months to June 30, 2026. The market capitalization is $2.4B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Why is Lindblad Expeditions Holdings Inc.'s debt-to-equity ratio negative or not reported?

Lindblad Expeditions Holdings Inc. (LIND) has negative shareholder equity of -$284.5M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Lindblad Expeditions Holdings Inc.'s Altman Z-Score?

Lindblad Expeditions Holdings Inc. (LIND) has an Altman Z-Score of 1.49, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Lindblad Expeditions Holdings Inc.'s Piotroski F-Score?

Lindblad Expeditions Holdings Inc. (LIND) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Lindblad Expeditions Holdings Inc.'s earnings high quality?

Lindblad Expeditions Holdings Inc. (LIND) reported a net loss of $34.6M while generating $111.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Lindblad Expeditions Holdings Inc. cover its interest payments?

Lindblad Expeditions Holdings Inc. (LIND) has an interest coverage ratio of 1.01x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Lindblad Expeditions Holdings Inc.?

Lindblad Expeditions Holdings Inc. (LIND) scores 40 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.