Saturday 17 October 2026
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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.
107.36
3.23
−2.92%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to August
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 62.99 | 73.34 | 83.57 | 73.00 | 71.86 | 123.68 | 116.77 | 106.46 | 109.27 | 106.10 |
Analyst estimates 2026–2028 Powerpack |
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| High | 89.98 | 96.22 | 109.50 | 99.89 | 130.18 | 179.27 | 183.08 | 169.91 | 135.20 | 150.96 | |||||
| People | |||||||||||||||
| People | Employees | 1,366 | 1,410 | 1,412 | 1,069 | 1,125 | 1,235 | 1,262 | 1,209 | 1,280 | 1,275 | ||||
| Revenue/emp, $m | 0.38 | 0.37 | 0.39 | 0.42 | 0.42 | 0.46 | 0.61 | 0.56 | 0.47 | 0.53 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 516 | 518 | 548 | 444 | 475 | 568 | 771 | 674 | 607 | 676 | ||||
| Gross margin, % | 28.78 | 28.00 | 27.65 | 25.81 | 32.14 | 26.46 | 25.84 | 31.60 | 31.47 | 31.16 | |||||
| EBT | 29 | 36 | 34 | 2 | 49 | 50 | 88 | 100 | 79 | 95 | |||||
| EBT margin, % | 5.67 | 6.89 | 6.18 | 0.47 | 10.29 | 8.88 | 11.40 | 14.89 | 13.02 | 13.98 | |||||
| Net income | 20 | 23 | 20 | 2 | 39 | 43 | 65 | 72 | 66 | 74 | |||||
| Depreciation | 17 | 17 | 17 | 14 | 19 | 19 | 20 | 19 | 21 | 21 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | 47.35 | 48.56 | 50.99 | 41.19 | 43.86 | 52.14 | 70.29 | 61.26 | 55.31 | 62.29 | ||||
| Earnings | 1.86 | 2.17 | 1.89 | 0.20 | 3.57 | 3.91 | 5.97 | 6.58 | 6.04 | 6.82 | |||||
| Cash flow | 3.04 | 3.70 | 3.16 | 0.35 | 4.25 | 4.04 | 0.28 | 10.88 | 8.72 | 12.24 | |||||
| Capex | (1.05) | (0.83) | (1.03) | (2.15) | (1.98) | (2.44) | (1.42) | (1.71) | (2.64) | (3.91) | |||||
| Free cash flow | 1.98 | 2.87 | 2.13 | (1.80) | 2.27 | 1.60 | (1.14) | 9.17 | 6.08 | 8.33 | |||||
| Book value | 23.07 | 25.32 | 25.78 | 24.88 | 27.58 | 31.09 | 35.87 | 41.41 | 43.81 | 49.07 | |||||
| Shares, m | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 38.28 | 39.89 | 50.94 | 435.45 | 28.07 | 42.24 | 26.91 | 18.86 | 19.75 | 20.06 | ||||
| P/S | 1.52 | 1.78 | 1.88 | 2.11 | 2.28 | 3.16 | 2.28 | 2.03 | 2.15 | 2.20 | |||||
| P/B | 3.12 | 3.42 | 3.72 | 3.50 | 3.62 | 5.30 | 4.47 | 3.00 | 2.72 | 2.79 | |||||
| EV/Sales | 1.55 | 1.77 | 1.80 | 2.09 | 2.23 | 3.10 | 2.28 | 1.95 | 2.03 | 2.00 | |||||
| EV/FCF | 36.93 | 30.04 | 43.02 | (47.79) | 42.97 | 100.96 | (140.07) | 13.02 | 18.44 | 14.96 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 33 | 39 | 34 | 4 | 46 | 44 | 3 | 120 | 96 | 133 | ||||
| Capex | (11) | (9) | (11) | (23) | (21) | (27) | (16) | (19) | (29) | (42) | |||||
| Free cash flow | 22 | 31 | 23 | (19) | 25 | 17 | (13) | 101 | 67 | 90 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 189 | 201 | 251 | 231 | 246 | 278 | 316 | 351 | 367 | 389 | ||||
| Total debt | 117 | 117 | 116 | 116 | 116 | 116 | 116 | 115 | 115 | 115 | |||||
| Net debt | 14 | (5) | (44) | (11) | (25) | (31) | (1) | (51) | (76) | (136) | |||||
| Shareholders’ equity | 252 | 270 | 277 | 268 | 299 | 338 | 393 | 456 | 481 | 533 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | 3.96 | 4.67 | 4.03 | 0.43 | 7.21 | 7.05 | 9.71 | 9.94 | 8.80 | 9.25 | ||||
| ROIC | 8.09 | 9.57 | 10.49 | 1.49 | 12.39 | 11.00 | 15.07 | 15.78 | 11.82 | 13.86 | |||||
| ROE | 7.50 | 8.89 | 7.41 | 0.80 | 13.63 | 13.37 | 17.89 | 17.05 | 14.15 | 14.61 | |||||
Negative figures in brackets.
Fiscal years to Aug 2025 · latest quarter May 2026
Charts ten years each
Lindsay Corporation vs peers in Farm & Heavy Construction Machinery (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| ALG Alamo Group, Inc. | $1.9B | 18.0× | 14.3× | +7.55% (above 0%: growing) | −0.77% (below 0%: shrinking) | +147.74% (above 0%: growing) | 24.59% | 10.15% | Compare |
| BLBD Blue Bird Corporation | $1.8B | 6.8× | 14.9× | +29.94% (above 0%: growing) | +366.38% (above 0%: growing) | −58.60% (below 0%: shrinking) | 19.99% | 12.12% | Compare |
| LNN Lindsay Corporation | $1.1B | 20.5× | 22.2× | −5.13% (below 0%: shrinking) | −14.44% (below 0%: shrinking) | −105.43% (below 0%: shrinking) | 29.75% | 11.52% | |
| ASTE Astec Industries, Inc. | $896.2M | 44.4× | 21.3× | +23.55% (above 0%: growing) | −36.99% (below 0%: shrinking) | −44.57% (below 0%: shrinking) | 26.17% | 5.00% | Compare |
| AEBI Aebi Schmidt Holding AG | $870.7M | 35.2× | 16.6× | +78.73% (above 0%: growing) | n/m | +19.42% (above 0%: growing) | 19.60% | 5.45% | Compare |
| MTW The Manitowoc Company, Inc. | $808.9M | 38.4× | 31.2× | +10.27% (above 0%: growing) | +875.00% (above 0%: growing) | +94.02% (above 0%: growing) | 20.69% | 5.23% | Compare |
| HY Hyster-Yale, Inc. | $539.7M | — (loss-making) | — (loss-making) | −15.02% (below 0%: shrinking) | n/m | −84.57% (below 0%: shrinking) | 15.70% | (2.26%) | Compare |
| WNC Wabash National Corporation | $522.3M | — (loss-making) | — (loss-making) | −9.06% (below 0%: shrinking) | n/m | +174.99% (above 0%: growing) | 3.67% | (6.06%) | Compare |
| TWI Titan International, Inc. | $435.7M | — (loss-making) | — (loss-making) | +5.19% (above 0%: growing) | n/m | +535.23% (above 0%: growing) | 15.46% | 2.75% | Compare |
| Median of peers | $839.8M | 35.2× | 16.6× | +8.91% | +182.81% | +56.72% | 19.80% | 5.12% |
Lindsay Corporation (LNN) key facts
- Strength: Lindsay Corporation’s revenue for fiscal 2025 (year ended August 2025) was $676.4 million, up 11.4% from fiscal 2024.
- Strength: Net income was $74.1 million, or $6.82 per share (basic), a net margin of 11.0%.
- Lindsay Corporation (LNN) is a Farm & Heavy Construction Machinery company in the Industrials sector, listed on the New York Stock Exchange.
- As of October 16, 2026, LNN traded at $107.36, a market capitalization of $1.1 billion.
- At that price the stock trades at 20.5× trailing-twelve-month earnings and 1.8× sales; its P/E is higher than 24% of its own readings over the past ten years.
- Lindsay Corporation pays an annual dividend of $1.49 per share, a yield of 1.39%, with a payout ratio of 28.6%.
- Return on equity was 14.6% and debt-to-equity 0.23.
- Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 5.85 (safe zone) for fiscal 2025.