Lindsay (LNN) financial statements
Lindsay reported revenue of $676M in fiscal 2025, up 3.0% a year over 9 years.
Net income was $74M and the operating margin 13.0%, against 6.7% in 2016.
Free cash flow was $90M, and the company returned $16M in dividends and $12M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Lindsay's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $516M | $518M | $548M | $444M | $475M | $568M | $771M | $674M | $607M | $676M |
| Cost of revenue | $368M | $373M | $396M | $329M | $322M | $417M | $572M | $461M | $416M | $466M |
| Gross profit | $149M | $145M | $151M | $115M | $153M | $150M | $199M | $213M | $191M | $211M |
| Research and development | $16M | $17M | $16M | $14M | $14M | $13M | $15M | $18M | $17M | $18M |
| Selling, general and admin | $98M | $87M | $96M | $95M | $84M | $83M | $89M | $93M | $97M | $105M |
| Operating income | $34M | $41M | $39M | $6M | $54M | $54M | $95M | $102M | $77M | $88M |
| Interest expense | $5M | $5M | $5M | $5M | $5M | $5M | $4M | $4M | $3M | $2M |
| Pre-tax income | $29M | $36M | $34M | $2M | $49M | $50M | $88M | $100M | $79M | $95M |
| Income tax | $9M | $13M | $14M | -$65,000 | $10M | $8M | $22M | $28M | $13M | $21M |
| Net income | $20M | $23M | $20M | $2M | $39M | $43M | $65M | $72M | $66M | $74M |
| EPS (diluted) | $1.85 | $2.17 | $1.88 | $0.20 | $3.56 | $3.88 | $5.94 | $6.54 | $6.01 | $6.78 |
| Diluted shares | 11M | 11M | 11M | 11M | 11M | 11M | 11M | 11M | 11M | 11M |
| Gross margin | 28.8% | 28.0% | 27.7% | 25.8% | 32.1% | 26.5% | 25.8% | 31.6% | 31.5% | 31.2% |
| Operating margin | 6.7% | 7.8% | 7.1% | 1.4% | 11.4% | 9.5% | 12.3% | 15.2% | 12.6% | 13.0% |
| Net margin | 3.9% | 4.5% | 3.7% | 0.5% | 8.1% | 7.5% | 8.5% | 10.7% | 10.9% | 10.9% |
Balance sheet
Fiscal years, from Lindsay's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $101M | $122M | $161M | $127M | $141M | $147M | $117M | $166M | $191M | $251M |
| Receivables | $81M | $74M | $69M | $76M | $85M | $94M | $138M | $145M | $117M | $113M |
| Inventory | $75M | $86M | $79M | $92M | $105M | $145M | $194M | $156M | $154M | $137M |
| Total current assets | $277M | $293M | $331M | $313M | $348M | $416M | $477M | $487M | $493M | $533M |
| Property, plant and equipment | $78M | $74M | $57M | $69M | $80M | $92M | $94M | $100M | $113M | $142M |
| Goodwill | $77M | $77M | $65M | $64M | $68M | $68M | $67M | $83M | $84M | $84M |
| Total assets | $488M | $506M | $500M | $500M | $571M | $637M | $711M | $746M | $760M | $841M |
| Total current liabilities | $88M | $92M | $80M | $82M | $102M | $138M | $161M | $136M | $126M | $144M |
| Long-term debt | $117M | $117M | $116M | $116M | $116M | $116M | $115M | $115M | $115M | $115M |
| Total liabilities | $236M | $236M | $223M | $232M | $272M | $299M | $317M | $290M | $279M | $308M |
| Shareholders' equity | $252M | $270M | $277M | $268M | $299M | $338M | $393M | $456M | $481M | $533M |
| Net debt | $16M | -$5M | -$44M | -$11M | -$6M | -$11M | $11M | -$45M | -$76M | -$136M |
Cash flow
Fiscal years, from Lindsay's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $33M | $39M | $34M | $4M | $46M | $44M | $3M | $120M | $96M | $133M |
| Capital spending | $11M | $9M | $11M | $23M | $21M | $27M | $16M | $19M | $29M | $42M |
| Free cash flow | $22M | $31M | $23M | -$19M | $25M | $17M | -$13M | $101M | $67M | $90M |
| Stock-based compensation | $3M | $4M | $4M | $4M | $6M | $6M | $5M | $7M | $6M | $8M |
| Dividends paid | $12M | $12M | $13M | $13M | $14M | $14M | $15M | $15M | $15M | $16M |
| Share buybacks (net) | -$48M | — | — | — | — | — | $0 | $0 | -$22M | -$12M |
| Net borrowing | -$193,000 | -$197,000 | -$201,000 | -$205,000 | -$227,000 | -$195,000 | -$218,000 | -$222,000 | — | — |
| Free cash flow margin | 4.2% | 5.9% | 4.2% | -4.4% | 5.2% | 3.1% | -1.6% | 15.0% | 11.0% | 13.4% |
| Dividends per share | $1.12 | $1.17 | $1.21 | $1.24 | $1.26 | $1.29 | $1.32 | $1.36 | $1.40 | $1.44 |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for LNN.
Open LNN in InvestinglyQuestions
What was Lindsay's revenue in 2025?
$676M in fiscal 2025, from its 10-K filing.
How much free cash flow does Lindsay generate?
$90M in fiscal 2025 (operating cash flow minus capital spending).
From Lindsay's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.