Lindblad Expeditions Holdings, Inc. (LIND)
Lindblad Expeditions Holdings, Inc. provides marine expedition adventures and travel experience worldwide. It operates through Lindblad and Land Experiences segments. The Lindblad segment provides ship-based expeditions aboard customized, nimble, and intimately-scaled vessels, which offers up-close experiences in the planet's wild and remote places, and capitals of culture; and offers expedition ship which is equipped with state-of-the-art tools for in-depth exploration with infrastructure and ports, such as Antarctica and the Arctic, and places that accessed by a ship comprising Galápagos Islands, Alaska, Baja California's Sea of Cortez and Panama, and foster engagement activities. The Land Experiences segment comprises natural habitats, which provides various expedition itineraries in more than 45 countries across seven continents, with eco-conscious expeditions and nature-focused, and small-group tours including polar bear tours and bear adventure; and DuVine provides intimate group cycling and adventure tours around the world with local cycling experts as guides in local cultural, cuisine, and accommodations. This segment also offers off the beaten path, including small group travel, led by local, and experienced guides with focus on wildlife, hiking national parks, and culture; and classic journey, a curated active small-group and private custom journeys centered around cinematic walks led by expert local guides over 50 countries across the world. In addition, it collaborates with National Geographic on expedition planning and to enhance the guest experience by having National Geographic experts, including photographers, writers, marine biologists, naturalists, field researchers and film crews; and partnered with World Wildlife Fund to offer conservation travel. Lindblad Expeditions Holdings, Inc. was founded in 1979 and is headquartered in New York, New York.
- Symbol
- LIND
- Exchange
- Nasdaq
- Sector
- Consumer Cyclical
- Industry
- Travel Services
- Market cap
- $1.79B
- 52 week range
- 11.37 - 35
Valuation
- Share price
- $27.23 (close of 2026-09-23)
- P/E (TTM)
- -78.37x
- Price to book
- -9.14x
- Price to free cash flow
- 16.42x
- Enterprise value
- $2.14B
- Book value per share
- $-2.99
Price performance
| Period | Change |
|---|
| 1 day | -3.75% |
| 5 days | +4.37% |
| 1 month | -12.42% |
| 3 months | +5.67% |
| 6 months | +50.53% |
| Year to date | +88.83% |
| 1 year | +110.11% |
| 3 years | +276.10% |
| 5 years | +95.20% |
| 10 years | +200.88% |
| All time | +184.24% |
Profitability and growth
- Return on equity
- 10.45%
- Return on invested capital
- 35.08%
- Return on assets
- -3.03%
- Return on capital employed
- 8.78%
- Gross margin
- 45.78%
- Net margin
- -3.85%
- EBITDA margin
- 14.05%
- Revenue growth
- 19.59%
- Net income growth
- 4.68%
- Free cash flow growth
- 8.50%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 6.09%
- Current ratio
- 0.84x
- Net debt to EBITDA
- 3.29x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $771.02M
- Cost of revenue
- $418.02M
- Gross profit
- $353.00M
- EBITDA
- $108.31M
- Net income
- $-29.72M
- Earnings per share
- $-0.63
- Shares outstanding
- 54.97M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $771.02M | $353.00M | $-29.72M | $-0.63 |
| 2024-12-31 | $644.73M | $282.15M | $-31.18M | $-0.67 |
| 2023-12-31 | $569.54M | $231.33M | $-45.61M | $-0.94 |
| 2022-12-31 | $421.50M | $138.28M | $-111.38M | $-2.23 |
| 2021-12-31 | $147.11M | $22.62M | $-119.21M | $-2.41 |
| 2020-12-31 | $82.36M | $9.43M | $-98.74M | $-2.01 |
| 2019-12-31 | $343.09M | $176.48M | $16.35M | $0.29 |
| 2018-12-31 | $309.73M | $155.99M | $11.35M | $0.25 |
| 2017-12-31 | $266.50M | $130.98M | $-8.66M | $-0.19 |
| 2016-12-31 | $242.35M | $123.37M | $4.86M | $0.11 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | 45.78% | -3.85% | 10.45% | 35.08% |
| 2024-12-31 | 43.76% | -4.84% | 12.32% | 9.70% |
| 2023-12-31 | 40.62% | -8.01% | 20.27% | 3.08% |
| 2022-12-31 | 32.81% | -26.42% | 60.97% | -23.26% |
| 2021-12-31 | 15.38% | -81.03% | 151.69% | -33.99% |
| 2020-12-31 | 11.44% | -119.89% | -282.44% | -23.43% |
| 2019-12-31 | 51.44% | 4.77% | 13.27% | 12.60% |
| 2018-12-31 | 50.36% | 3.67% | 9.78% | 12.83% |
| 2017-12-31 | 49.15% | -3.25% | -8.15% | 3.06% |
| 2016-12-31 | 50.91% | 2.01% | 4.27% | 9.69% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $256.69M | $662.67M |
| 2024-12-31 | $183.94M | $625.42M |
| 2023-12-31 | $156.84M | $621.78M |
| 2022-12-31 | $100.77M | $529.45M |
| 2021-12-31 | $150.75M | $518.66M |
| 2020-12-31 | $187.53M | $471.36M |
| 2019-12-31 | $101.58M | $213.54M |
| 2018-12-31 | $113.40M | $188.09M |
| 2017-12-31 | $96.44M | $164.19M |
| 2016-12-31 | $135.42M | $164.13M |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $63.84M | $13.46M |
| 2024-12-31 | $58.84M | $9.83M |
| 2023-12-31 | $-4.52M | $13.89M |
| 2022-12-31 | $-40.41M | $6.99M |
| 2021-12-31 | $-64.19M | $5.56M |
| 2020-12-31 | $-247.74M | $2.39M |
| 2019-12-31 | $-33.42M | $3.57M |
| 2018-12-31 | $2.01M | $4.41M |
| 2017-12-31 | $-27.57M | $10.63M |
| 2016-12-31 | $-44.51M | $5.41M |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-03
- Consensus EPS estimate
- $0.41
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-08-03 | Jun/2026 | - |
| 2026-05-05 | - | - |
| 2026-02-26 | - | - |
| 2025-11-04 | - | - |
| 2025-08-04 | - | - |
| 2025-05-06 | - | - |
| 2025-02-27 | - | - |
| 2024-11-05 | - | - |
Filings and sources
- Company website
- expeditions.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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