Lindblad Expeditions (LIND) vs Pursuit Attractions and Hospitality, Inc. (PRSU)

Lindblad Expeditions and Pursuit Attractions and Hospitality, Inc. are both Travel Services companies. Lindblad Expeditions is the larger, with a market value of $1.8B against $1.3B — 1.4× the size. Lindblad Expeditions has negative trailing earnings, so its P/E is not meaningful; Pursuit Attractions and Hospitality, Inc. trades at 36.5×. Pursuit Attractions and Hospitality, Inc. grew revenue faster over the last twelve months: 26.4% against 18.3%. Pursuit Attractions and Hospitality, Inc. has the higher net margin (7.94% vs −2.44%) and the lower return on invested capital (5.65% vs 6.68%). Across the 18 metrics below, Lindblad Expeditions leads on 9 and Pursuit Attractions and Hospitality, Inc. on 9.

Valuation

Metric LIND PRSU Travel Services median
P/E n/m 36.50 17.52
P/S 2.24 2.83 2.24
P/B n/m 2.24 2.61
Price to free cash flow 17.08 n/m 12.40
EV/EBITDA 19.68 12.26 12.77
EV/Sales 3.13 3.24 2.38
Earnings yield (1.30%) 2.74% 3.30%
Free cash flow yield 5.85% (0.40%) 3.22%

Profitability

Metric LIND PRSU Travel Services median
Gross margin 46.65% 92.54% 67.64%
Operating margin 6.99% 17.48% 15.06%
Net margin (2.44%) 7.94% 6.64%
Free cash flow margin 13.13% (1.13%) 3.21%
Return on equity 8.82% 6.24% 7.53%
Return on assets (2.06%) 4.01% 3.40%
Return on invested capital 6.68% 5.65% 4.65%

Growth

Metric LIND PRSU Travel Services median
Revenue growth (TTM) 18.27% 26.37% 13.25%
EPS growth (last fiscal year) 5.97% (93.77%) —
Revenue growth, 5-year CAGR 56.41% 1.72% 28.66%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric LIND PRSU Travel Services median
Debt to equity (5.64) 0.38 0.32
Current ratio 0.84 1.61 1.20
Net debt to EBITDA 6.48 1.13 1.07

Dividend

Metric LIND PRSU Travel Services median
Dividend yield — — —
Payout ratio 0.00 0.00 0.00

Size

Metric LIND PRSU Travel Services median
Market cap 1.82b 1.32b 4.41b

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