LNNLINDSAY CORP
Farm Machinery & Equipment
- Revenue
- $620M
- 6.0% YoY
- Operating margin
- 10.8%
- 19% YoY
- EBITDA
- $90M
- 17% YoY
- Market cap
- $1.1B
- Employees
- 1,083
- $572K revenue each
- Net debt / EBITDA
- -0.8×
- −$75M net debt
- AI in 10-K
- 2.0
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo135% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowYes128% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo10% of assetsOver 40% of assets
- Shareholder dissentNo87% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo$572K · 72nd pctBottom quartile of its SIC industry
- Quiet on AINo2.0 per 10K words · 56th pctBottom quartile of AI mentions in 10-Ks
- Net cashYesNet cash · 0.8× EBITDAMore cash than debt, positive EBITDA
- Buyout-sizedYes$1.1B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$0 netNet sales over $10M in 12 months
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $760M | $662M | $584M | $659M | $620M | 6.0% |
| Operating income | $95M | $102M | $77M | $88M | $67M | 24% |
| Net income | $65M | $72M | $66M | $74M | $56M | 25% |
| Operating cash flow | $3M | $120M | $96M | $133M | $75M | 44% |
| Capex | $16M | $19M | $29M | $42M | $40M | 5.5% |
| Stock-based comp | $5M | $7M | $6M | $8M | $6M | 30% |
| Buybacks | $0 | $0 | $22M | $12M | $81M | 600% |
| Dividends | $15M | $15M | $15M | $16M | $15M | 2.3% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
No pay-versus-performance disclosure yet.