LNN

MKT CAP:$1B

Lindsay Corporation

Market Cap

$1B

Industrials·Agricultural - Machinery·🇺🇸 United States·NYSE

Industrials·Agricultural·🇺🇸·NYSE

Stock Price

$108.89-$12.26 (-10.12%)

Apr 24, 2026

Company Details

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company operates in two segments, Irrigation and Infrastructure. The ...

CEO

Randy A. Wood

IPO Date

Oct 13, 1988

Website

www.lindsay.com

Key Metrics TTM

Revenue

$637M

-1.7% YoY

Net Income

$59M

EPS (Diluted)

$5.46

Free Cash Flow

$72M

Revenue / Share

$60.09

Gross Margin

30.0%

Operating Margin

10.6%

Net Margin

9.3%

FCF Margin

11.3%

P/S

1.8x

P/E

19.3x

Earnings Reports

Q2 2026

Apr 2, 2026

$158M-15.7%EPS $1.15

Q1 2026

Jan 8, 2026

$156M-6.3%EPS $1.54

FY 2025

Oct 23, 2025

$676M+11.4%EPS $6.78

Q4 2025

Oct 23, 2025

$154M-0.9%EPS $0.99

Q3 2025

Jun 26, 2025

$169M+21.7%EPS $1.78

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 22	$214M	$62M	$35M
Q4 22	$190M	$57M	$28M
Q1 23	$176M	$53M	$25M
Q2 23	$166M	$54M	$27M
Q3 23	$165M	$53M	$27M
Q4 23	$167M	$53M	$23M
Q1 24	$161M	$50M	$21M
Q2 24	$152M	$49M	$22M
Q3 24	$139M	$46M	$20M
Q4 24	$155M	$46M	$14M
Q1 25	$166M	$50M	$21M
Q2 25	$187M	$62M	$32M
Q3 25	$169M	$54M	$24M
Q4 25	$154M	$45M	$11M
Q1 26	$156M	$50M	$20M
Q2 26	$158M	$42M	$13M

Valuation

Quarter	P/S	P/E
Q3 22	2.0x	27.6x
Q4 22	2.3x	27.3x
Q1 23	2.5x	25.4x
Q2 23	2.2x	20.5x
Q3 23	1.9x	18.8x
Q4 23	2.0x	18.8x
Q1 24	2.0x	19.2x
Q2 24	2.1x	19.2x
Q3 24	2.1x	17.7x
Q4 24	2.2x	20.4x
Q1 25	2.4x	21.1x
Q2 25	2.2x	18.2x
Q3 25	2.2x	20.0x
Q4 25	2.2x	20.5x
Q1 26	1.9x	17.3x
Q2 26	2.3x	24.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 22	$11M	$6M
Q4 22	$28M	$25M
Q1 23	$5M	$884.0K
Q2 23	$3M	-$219.0K
Q3 23	$51M	$45M
Q4 23	$61M	$55M
Q1 24	$22M	$15M
Q2 24	-$10M	-$22M
Q3 24	$31M	$26M
Q4 24	$53M	$48M
Q1 25	$22M	$12M
Q2 25	$12M	$3M
Q3 25	$35M	$26M
Q4 25	$64M	$50M
Q1 26	-$597.0K	-$15M
Q2 26	$25M	$12M

Capital Expenditures

Quarter	CapEx
Q3 22	$5M
Q4 22	$3M
Q1 23	$4M
Q2 23	$3M
Q3 23	$6M
Q4 23	$5M
Q1 24	$7M
Q2 24	$12M
Q3 24	$5M
Q4 24	$5M
Q1 25	$9M
Q2 25	$10M
Q3 25	$9M
Q4 25	$14M
Q1 26	$14M
Q2 26	$13M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 22	+32.3%	+27.4%
Q4 22	+23.8%	+12.6%
Q1 23	+6.0%	-0.8%
Q2 23	-16.9%	-23.6%
Q3 23	-23.2%	-23.2%
Q4 23	-12.1%	-11.5%
Q1 24	-8.4%	-7.4%
Q2 24	-8.9%	-6.9%
Q3 24	-15.4%	-13.3%
Q4 24	-7.3%	-1.6%
Q1 25	+3.1%	+3.6%
Q2 25	+23.5%	+19.7%
Q3 25	+21.7%	+22.1%
Q4 25	-0.9%	+0.5%
Q1 26	-6.3%	-6.3%
Q2 26	-15.7%	-6.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 22	$2M	0.8%
Q4 22	$1M	0.7%
Q1 23	$1M	0.8%
Q2 23	$2M	1.0%
Q3 23	$2M	1.0%
Q4 23	$2M	1.0%
Q1 24	$2M	1.0%
Q2 24	$2M	1.1%
Q3 24	$2M	1.1%
Q4 24	$2M	1.0%
Q1 25	$2M	1.2%
Q2 25	$0	0.0%
Q3 25	$2M	1.2%
Q4 25	$2M	1.4%
Q1 26	$1M	0.9%
Q2 26	$2M	1.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q3 22	$4M	$15M	$8M
Q4 22	$5M	$15M	$10M
Q1 23	$4M	$14M	$10M
Q2 23	$5M	$14M	$9M
Q3 23	$5M	$13M	$9M
Q4 23	$5M	$15M	$9M
Q1 24	$4M	$15M	$10M
Q2 24	$4M	$13M	$9M
Q3 24	$4M	$13M	$10M
Q4 24	$5M	$17M	$11M
Q1 25	$4M	$15M	$10M
Q2 25	$4M	$15M	$11M
Q3 25	$5M	$15M	$10M
Q4 25	$5M	$18M	$10M
Q1 26	$5M	$15M	$11M
Q2 26	$4M	$15M	$11M

Revenue Segments

Quarter	Infrastructure	Irrigation
Q3 22	$26M	$189M
Q4 22	$40M	$150M
Q1 23	$24M	$152M
Q2 23	$18M	$148M
Q1 24	$21M	$140M
Q2 24	$19M	$133M
Q3 24	$24M	$115M
Q4 24	$29M	$126M
Q1 25	$19M	$147M
Q2 25	$39M	$148M
Q3 25	$26M	$144M
Q4 25	$25M	$129M
Q1 26	$22M	$133M
Q2 26	$16M	$141M

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 22	$82M	$14M	$96M
Q4 22	$105M	$11M	$117M
Q1 23	$99M	$11M	$111M
Q2 23	$98M	$9M	$106M
Q3 23	$132M	$13M	$144M
Q4 23	$161M	$6M	$166M
Q1 24	$159M	$16M	$176M
Q2 24	$133M	$17M	$151M
Q3 24	$140M	$12M	$153M
Q4 24	$191M	$0	$191M
Q1 25	$194M	$0	$194M
Q2 25	$172M	$15M	$187M
Q3 25	$196M	$15M	$211M
Q4 25	$251M	$0	$251M
Q1 26	$200M	$0	$200M
Q2 26	$186M	$0	$186M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 22	11M	+0.1%	-0.1%
Q4 22	11M	+0.4%	+0.2%
Q1 23	11M	+0.1%	+0.4%
Q2 23	11M	-0.1%	+0.4%
Q3 23	11M	-0.1%	+0.3%
Q4 23	11M	+0.1%	-0.0%
Q1 24	11M	0.0%	-0.1%
Q2 24	11M	+0.1%	+0.1%
Q3 24	11M	-0.4%	-0.2%
Q4 24	11M	-0.1%	-0.4%
Q1 25	11M	-1.0%	-1.4%
Q2 25	11M	+0.1%	-1.5%
Q3 25	11M	+0.2%	-0.9%
Q4 25	11M	-0.0%	-0.8%
Q1 26	11M	-2.1%	-1.9%
Q2 26	11M	-1.0%	-2.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 22	$173.5K	1K
Q4 22	$150.7K	1K
Q1 23	$139.6K	1K
Q2 23	$131.7K	1K
Q3 23	$130.4K	1K
Q4 23	$138.2K	1K
Q1 24	$133.5K	1K
Q2 24	$125.3K	1K
Q3 24	$115.1K	1K
Q4 24	$121.1K	1K
Q1 25	$129.9K	1K
Q2 25	$146.1K	1K
Q3 25	$132.4K	1K
Q4 25	$120.4K	1K
Q1 26	$122.2K	1K
Q2 26	$123.7K	1K

Revenue / Employee