Lineage (LINE) financial statements
Lineage reported revenue of $5.4B in fiscal 2025, up 2.8% a year over 3 years.
Net income was -$100M and the operating margin 3.4%, against 6.0% in 2022.
Free cash flow was $196M, and the company returned $537M in dividends and $82M in net buybacks.
The diluted share count rose 50% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Lineage's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | $4.9B | $5.3B | $5.3B | $5.4B |
| Cost of revenue | $3.5B | $3.6B | $3.6B | $3.6B |
| Gross profit | $1.5B | $1.8B | $1.8B | $1.7B |
| Selling, general and admin | $399M | $502M | $539M | $574M |
| Operating income | $297M | $398M | -$361M | $181M |
| Interest expense | $281M | $509M | $426M | $256M |
| Pre-tax income | -$70M | -$110M | -$840M | -$115M |
| Income tax | $6M | -$14M | -$89M | -$2M |
| Net income | -$63M | -$77M | -$664M | -$100M |
| EPS (diluted) | -$0.51 | -$0.73 | -$3.70 | -$0.43 |
| Diluted shares | 152M | 162M | 191M | 228M |
| Gross margin | 29.5% | 32.8% | 33.0% | 32.1% |
| Operating margin | 6.0% | 7.5% | -6.8% | 3.4% |
| Net margin | -1.3% | -1.4% | -12.4% | -1.9% |
Balance sheet
Fiscal years, from Lineage's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Cash and short-term investments | $202M | $68M | $173M | $66M |
| Receivables | — | $913M | $826M | $896M |
| Inventory | — | $171M | $187M | $145M |
| Total current assets | — | $1.3B | $1.3B | $1.2B |
| Property, plant and equipment | — | $10.6B | $10.6B | $11.3B |
| Goodwill | $3.3B | $3.4B | $3.3B | $3.5B |
| Total assets | — | $18.9B | $18.7B | $19.2B |
| Total current liabilities | — | $1.4B | $1.5B | $1.5B |
| Long-term debt | — | $9.0B | $4.9B | $6.1B |
| Total liabilities | — | $12.8B | $9.0B | $9.9B |
| Shareholders' equity | $5.8B | $5.1B | $8.6B | $8.2B |
| Net debt | -$202M | $8.9B | $4.8B | $6.0B |
Cash flow
Fiscal years, from Lineage's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating cash flow | $501M | $796M | $703M | $943M |
| Capital spending | $813M | $766M | $691M | $747M |
| Free cash flow | -$312M | $30M | $12M | $196M |
| Stock-based compensation | $17M | $26M | $215M | $126M |
| Dividends paid | $180M | $46M | $234M | $537M |
| Share buybacks (net) | $0 | -$12M | -$42M | -$82M |
| Net borrowing | $946M | $0 | $2.5B | $1.3B |
| Free cash flow margin | -6.3% | 0.6% | 0.2% | 3.7% |
| Dividends per share | $1.18 | $0.28 | $1.23 | $2.36 |
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Open LINE in InvestinglyQuestions
What was Lineage's revenue in 2025?
$5.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does Lineage generate?
$196M in fiscal 2025 (operating cash flow minus capital spending).
From Lineage's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.