Lindsay Corporation
LNN Industrials Farm & Heavy Construction Machinery
Lindsay Corporation’s revenue for fiscal 2025 (year ended August 2025) was $676.4 million, up 11.4% from fiscal 2024. In the quarter to May 2026, revenue fell 5.13%, EPS fell 14.4%, free cash flow fell 105.4% and total debt was flat, each against the same quarter a year earlier. Dividend growth for twenty-five consecutive years.
Follow LNN
Lindsay Corporation (LNN) Altman Z-score
Lindsay Corporation's Altman Z-score for fiscal 2025 is 5.85, in the safe zone (above 2.99).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 5.85 | (0.05) |
| FY2024 | 5.90 | (0.04) |
| FY2023 | 5.94 | (0.58) |
| FY2022 | 6.52 | 0.07 |
| FY2021 | 6.46 | 1.18 |
| FY2020 | 5.27 | 0.00 |
| FY2019 | 5.27 | (0.81) |
| FY2018 | 6.08 | 0.65 |
| FY2017 | 5.43 | 0.34 |
| FY2016 | 5.09 | (0.15) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.46 | — | 0.56 | |
| Retained earnings / total assets | 0.89 | — | 1.24 | |
| EBIT / total assets | 0.10 | — | 0.35 | |
| Market value of equity / total liabilities | 4.84 | — | 2.90 | |
| Sales / total assets | 0.80 | — | 0.80 | |
| Altman Z-score | Safe zone | 5.85 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 8.45 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| BLBD Blue Bird Corporation compare | 6.8× |
| LNN Lindsay Corporation | 5.8× |
| ALG Alamo Group, Inc. compare | 5.4× |
| ASTE Astec Industries, Inc. compare | 3.1× |
| WNC Wabash National Corporation compare | 2.9× |
| HY Hyster-Yale, Inc. compare | 2.4× |
| MTW The Manitowoc Company, Inc. compare | 2.1× |
| TWI Titan International, Inc. compare | 1.9× |
| AEBI Aebi Schmidt Holding AG compare | 1.5× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets