Latest Ratios: P/E Ratio 17.0x · EV/EBITDA 9.9x · 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 → | 17.00 | 20.24 | 20.64 | 18.98 | 27.00 | 42.46 | 28.07 | 441.30 | 50.94 | 39.89 | 38.90 |
| P/S Ratio | 1.77 | 2.22 | 2.25 | 2.04 | 2.30 | 3.19 | 2.29 | 2.15 | 1.88 | 1.79 | 1.52 |
| P/B Ratio | 2.36 | 2.81 | 2.84 | 3.01 | 4.50 | 5.35 | 3.64 | 3.56 | 3.73 | 3.43 | 3.13 |
| P/FCF | 13.25 | 16.57 | 20.46 | 13.60 | — | 103.67 | 44.14 | — | 45.09 | 30.27 | 36.45 |
| P/OCF | 9.01 | 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 | 9.94 | 12.70 | 13.89 | 11.10 | 16.36 | 24.84 | 15.09 | 46.84 | 17.93 | 16.19 | 15.66 |
| EV / EBIT | 12.30 | 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 | 1.3% | 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 | 7.5% | 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 |
Cyclical Agricultural Demand Exposure
According to current market data, Lindsay trades at a forward P/E of 24.62, which appears elevated relative to its historical averages and suggests investors are pricing in a recovery that remains unsupported by the company's recent 15.7% year-over-year revenue decline in 2026Q2.
The current valuation premium relative to pure-play agricultural peers implies the market is assigning significant value to the infrastructure segment's potential. However, given the contracting top-line and margin compression, this multiple may be vulnerable to downward revision if the anticipated infrastructure-driven growth fails to materialize in the near term.
Based on reported financial figures, ROIC has trended downward to 2.1% in 2026Q2 from a peak of 5.3% in 2025Q2, indicating that the company is struggling to generate efficient returns on its capital base during the current agricultural downturn.
The decline in ROIC is particularly concerning as it coincides with rising capital intensity, suggesting that recent investments in fixed assets are not yet yielding commensurate operational returns. Investors should monitor whether this trend reflects a structural impairment of the company's competitive moat or merely a temporary cyclical trough.
As indicated by the latest quarterly data, the cash conversion cycle has expanded to 145 days in 2026Q2, driven largely by elevated inventory levels of 113 days, which suggests that Lindsay is facing significant challenges in managing its working capital during this period of slowing demand.
The persistent increase in days inventory outstanding indicates a potential mismatch between production schedules and actual market demand for irrigation hardware. This inefficiency ties up liquidity that could otherwise be deployed more effectively, further pressuring the company's overall return on capital metrics.
According to recent SEC filings, Lindsay maintains a D/E ratio of 0.27, a figure that underscores a fortress balance sheet that remains largely insulated from the interest rate volatility currently impacting more leveraged industrial peers in the machinery sector.
While this low-leverage posture provides a significant safety buffer against cyclical downturns, it also raises questions regarding capital allocation efficiency. The company's ability to maintain such a conservative profile during a period of revenue contraction suggests a defensive management strategy that prioritizes solvency over aggressive growth.
The P/E ratio is frequently misapplied to Lindsay, as it obscures the impact of lumpy, project-based infrastructure revenue and significant cash balances that do not contribute to core operational earnings, thereby distorting the company's true underlying profitability.
Analysts should instead focus on EV/EBITDA or P/FCF, which better account for the company's substantial cash position and the non-recurring nature of large infrastructure contracts. Relying solely on P/E risks misinterpreting the company's valuation by failing to adjust for the non-operating cash drag on earnings quality.
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 17.0x. The historical average is 27.9x. This places it at the 7th percentile of its historical range.
Lindsay Corporation's current EV/EBITDA is 9.9x. 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 17.0x. 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.