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Lindsay Corp (LNN) stock

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NYSE: LNN NYSE Agricultural & Farm Machinery Next results ~January 7, 2027

C+ Fundamentals grade

Lindsay Corp is a US-listed company in the agricultural & farm machinery industry. Its financial year ends in August.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$98

Cash-flow model

Base case. Range ~$75–$130 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 12% above our base value.

Price used: $109.74, November 2, 2026

Lindsay Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds126 adding, 98 cuttingOf 42 active managers that changed their stake, 26 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Lindsay files

Where Lindsay stands after its latest 10-K

Revenue for the twelve months to August 2026 was $636m, down 6.0% on a year earlier, a smaller fall than the 7.4% decline a quarter earlier. That puts it 328 of 362 for growth among the industrials companies we cover. Free-cash-flow margin fell to 5.5% from 13.4% a year earlier. Operating margin narrowed to 10.5% from 13.0%. The diluted share count is down 4.4% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 7 of our 7 financial-health checks. Our cash-flow model value is $99.47 a share, against a share price of $106. At that price, our model says the market is pricing in about 3.2% a year of cash-flow growth for five years, close to the 2.3% a year revenue growth it has delivered.

Source: 10-K filed October 22, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 7, 2027 (estimated)

Lindsay Corp's trailing-twelve-month revenue fell 6.0% year on year, with a free-cash-flow margin of 5.5%. Where it stands out: operating margin of 10.5% ranks 1 of 5 agricultural & farm machinery companies we cover. Where it lags: revenue growth of -6.0% ranks 7 of 7 agricultural & farm machinery companies we cover.

Our discounted-cash-flow model values the business at ~$98 per share in the base case (~$75–$130 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 61.6% while net income fell 24.8%: a 37pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 4.4% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $0.1bn.

Things to watch

  • Revenue shrinking. Revenue fell 6.0% over the last 12 months.
  • Gross margin slipping. Gross margin is down 2.3 points on a year ago.
  • Weak cash conversion. Free cash flow was 62% of net income over the last 12 months.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 0.9% ranks 6 of 6 agricultural & farm machinery companies we cover (median 0.5%).
  • Heavily shorted. 12.2% of the shares available to trade are sold short (5.4 days of average volume to cover).
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 9.5% over 90 days.

Latest results: FY2026 Q4

Filed October 22, 2026
Earnings per share
$1.10 against an average estimate of $0.98: beat by 11.9%
Revenue
$162m, up 5.2% on a year earlier
Share reaction
-0.9% in the first session after the results on October 22, 2026, against -1.7% for the S&P 500
Next report
January 7, 2027; average EPS estimate $1.20

Lindsay's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.0%
  • 1 week+3.6%
  • 1 month-4.0%
  • This year-6.0%
  • 1 year-0.1%
  • 5 years-24.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$636M
Operating margin
10.5%
Net margin
8.8%
EPS (TTM, diluted)
$5.33

Growth

Revenue growth
−6.0%
Change in growth rate
+1.4 pts
Share count change
−4.4%

Cash

Free cash flow (TTM)
$34.7M
FCF margin
5.5%
Stock pay % of revenue
0.9%

Earnings

Last results
October 22, 2026
Next results (est.)
January 7, 2027

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Results
  3. Leadership
  4. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Lindsay Corp valuation models and calculator

What the price is pricing in

The share price implies about 3.6% a year of cash-flow growth for five years.That is close to the 2.3% a year revenue growth Lindsay has delivered.

  • Priced in3.6%
  • Last 12 months-6.0%
  • 3 years a year-1.9%
  • 5 years a year2.3%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($108.42, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$98
Price used
$108.42close November 3, 2026
Implied change
▼ 10%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Lindsay Corp's free cash flow after stock-based pay with after-tax interest added back ($56.9M, FY2026 Q4 TTM), growing -1.9% and 3.3% in the next two years (forecasts, guidance and its record), then back to 2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$75–~$130 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Lindsay Corp's free cash flow after stock-based pay ( $56.9M, FY2026 Q4 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Lindsay Corp as an operating company, with every model that fits that kind of business. Cost of equity 8.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.79 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$98 ~$75–$130 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$100 ~$93–$120 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$100 ~$72–$150 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$110 ~$90–$130 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$100 ~$98–$110 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Lindsay Corp with Agricultural & Farm Machinery in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −22%
  • Revenue growth 5 points higher ▲ +29%
  • Free-cash-flow margin 1 point lower ▼ −16%
  • Last year's free-cash-flow margin change, if it persists ▼ −56%
  • Discount rate 1 point higher ▼ −13%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $87$116$154$204$270$354
8.5% $69$89$117$153$199$259
10% $57$73$94$122$157$203

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026
Share price$63.94$78.03$87.48$81.79$93.82$156.04$153.30$119.81$121.15$135.48$114.91
Market value$699m$834m$942m$884m$1.0bn$1.7bn$1.7bn$1.3bn$1.3bn$1.5bn$1.2bn
+ Net debt (− = net cash)$16m−$5m−$44m−$11m−$5m−$11m$11m−$45m−$75m−$135m−$75m
Enterprise value$715m$830m$898m$874m$1.0bn$1.7bn$1.7bn$1.3bn$1.3bn$1.3bn$1.1bn
Multiples
Price / sales 1.4x1.6x1.7x2.0x2.1x3.0x2.2x2.0x2.2x2.2x1.9x
Price / earnings 34.5x36.0x46.5xn/m26.4x40.3x25.8x18.3x20.1x20.0x21.5x
Price / free cash flow 32.3x27.3x41.2x—41.4x98.2x—13.1x20.0x16.4x34.5x
EV / EBITDA 13.9x14.5x16.2x43.4x13.8x23.2x14.8x10.5x12.9x12.3x12.5x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

53 /100

Moderate moat

How hard Lindsay's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 10 / 20

    Net income has been a median 6.8% of total assets over 10 years.

  • Pricing power 10 / 20

    Gross margin has been a median 28.4%, moving by 2.4 percentage points (standard deviation) across 10 years.

  • Durability 4 / 20

    Operating margin has been a median 11.0%; its worst year was 1.4%.

  • Cash conversion 11 / 20

    Free cash flow was positive in 8 of 10 years, at a median 5.3% of revenue.

  • Discipline 18 / 20

    The diluted share count fell 5.0% over five years; stock-based pay has been a median 1.0% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: January 7, 2027, before the open. Analysts expect revenue of $149m and EPS of $1.20 (range $0.84 to $1.52) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $5.03 −6% $607m −5%
Next $5.74 +14% $651m +7%

Next year's EPS estimate has moved −9.5% in 90 days, across 3 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −16.8% on 90 days ago. In the last 30 days, 0 analysts raised Lindsay Corp's forecast and 1 cut it.

Consensus EPS forecast Lindsay Corp, last 90 days
$5.00 $5.50 $6.00 $6.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $6.05 Current fiscal year, 60 days ago: $5.85 Current fiscal year, 30 days ago: $5.85 Current fiscal year, 7 days ago: $5.85 Current fiscal year, Now: $5.03 $5.03 Next fiscal year, 90 days ago: $6.34 Next fiscal year, 60 days ago: $6.34 Next fiscal year, 30 days ago: $6.34 Next fiscal year, 7 days ago: $6.34 Next fiscal year, Now: $5.74 $5.74

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $6.05$6.34
60 days ago $5.85$6.34
30 days ago $5.85$6.34
7 days ago $5.85$6.34
Now $5.03$5.74

Earnings against estimates

Quarter toEstimateActualSurprise
Aug 2026 $0.98 $1.10 +11.9%
May 2026 $1.21 $1.53 +26.7%
Feb 2026 $1.69 $1.15 −31.8%
Nov 2025 $1.48 $1.54 +4.4%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Lindsay Corp's revenue by -1.9% next year and +3.3% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (-4.4%, weight 60%) and the company's own record (+2.0%, weight 40%) . How the weights are set.

Analyst recommendations

4 analysts, Oct 2026
Buy125%
Hold375%
Sell00%

Monthly trend

  1. Oct 2026134
  2. Sep 2026134
  3. Aug 2026134
  4. Jul 2026134

Counts of recommendations published by analysts covering Lindsay Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
12.2%
of tradable shares
Days to cover
5.36
at average volume
Short interest, 1 month
+10%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
1.3%
of shares
Employees
1,083
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −0.1%

$109.82 on October 31, 2025 to $109.74

ThenNowEffect
Revenue (last 12 months) $676m $636m −6.0%
Net margin 10.9% 8.8% −20.1%
P/E multiple 16.2x 20.6x +27.1%
Share count 11m 10m +4.6%

Biggest factor: p/e multiple.

Last 3 years −11.3%

$123.74 on November 3, 2023 to $109.74

ThenNowEffect
Revenue (last 12 months) $674m $636m −5.7%
Net margin 10.7% 8.8% −18.5%
P/E multiple 18.9x 20.6x +8.8%
Share count 11m 10m +6.0%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
LNN+19%+8%−20%−7%+1%−6%
Industry peers (median)+23%+15%−6%−11%+8%+26%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
LNN58%58%42%42%67%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
LNN−21%−24%−34%−18%−28%−25%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 41% from November 23, 2022 to April 6, 2026. Getting back needed a 70% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$102.22 – $135.41
From 52-week high
−19.0%
vs 50-day average
−3.3%
vs 200-day average
−5.6%
Volatility (1 year)
30%
Beta vs S&P 500
0.40

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±5.6%
After a week
6 up, 6 down
typical move ±5.4%
After a month
8 up, 3 down
typical move ±6.9%
Results releasedNext dayS&P 500 next day5 days21 days
October 22, 2026 −0.9% −1.7% −0.2% —
July 2, 2026 −2.9% +0.7% −6.0% −6.5%
April 2, 2026 −12.1% +0.6% −6.0% −5.6%
January 8, 2026 +5.6% +0.7% +6.6% +12.4%
October 23, 2025 −4.9% +1.4% −10.2% −7.8%
June 26, 2025 +3.9% +1.3% +8.0% +0.4%
April 3, 2025 −8.2% −10.5% −5.3% +1.3%
January 7, 2025 +4.8% −1.0% +11.0% +10.6%
October 24, 2024 +6.3% +0.2% +4.8% +14.5%
June 27, 2024 +8.5% −0.2% +0.5% +10.4%
April 4, 2024 +0.8% −0.2% −0.1% +2.5%
January 4, 2024 +8.3% −0.2% +6.6% +4.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Lindsay Corp’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 3, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C+ (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Lindsay Corp in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Lindsay Corp
$600M $620M $640M $660M $680M FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue (TTM), FY24 Q1: $659.3M Revenue (TTM), FY24 Q2: $644.6M Revenue (TTM), FY24 Q3: $619.2M Revenue (TTM), FY24 Q4: $607.1M Revenue (TTM), FY25 Q1: $612M Revenue (TTM), FY25 Q2: $647.5M Revenue (TTM), FY25 Q3: $677.8M Revenue (TTM), FY25 Q4: $676.4M Revenue (TTM), FY26 Q1: $665.9M Revenue (TTM), FY26 Q2: $636.6M Revenue (TTM), FY26 Q3: $627.9M Revenue (TTM), FY26 Q4: $635.9M $635.9M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY24 Q1 $659.3M
FY24 Q2 $644.6M
FY24 Q3 $619.2M
FY24 Q4 $607.1M
FY25 Q1 $612M
FY25 Q2 $647.5M
FY25 Q3 $677.8M
FY25 Q4 $676.4M
FY26 Q1 $665.9M
FY26 Q2 $636.6M
FY26 Q3 $627.9M
FY26 Q4 $635.9M
Revenue growth, TTM YoY Lindsay Corp
-20% -10% 0% 10% 20% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue growth, TTM YoY, FY24 Q1: -15.6% Revenue growth, TTM YoY, FY24 Q2: -13.7% Revenue growth, TTM YoY, FY24 Q3: -11.2% Revenue growth, TTM YoY, FY24 Q4: -9.9% Revenue growth, TTM YoY, FY25 Q1: -7.2% Revenue growth, TTM YoY, FY25 Q2: 0.5% Revenue growth, TTM YoY, FY25 Q3: 9.5% Revenue growth, TTM YoY, FY25 Q4: 11.4% Revenue growth, TTM YoY, FY26 Q1: 8.8% Revenue growth, TTM YoY, FY26 Q2: -1.7% Revenue growth, TTM YoY, FY26 Q3: -7.4% Revenue growth, TTM YoY, FY26 Q4: -6.0% -6.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q1 -15.6%
FY24 Q2 -13.7%
FY24 Q3 -11.2%
FY24 Q4 -9.9%
FY25 Q1 -7.2%
FY25 Q2 0.5%
FY25 Q3 9.5%
FY25 Q4 11.4%
FY26 Q1 8.8%
FY26 Q2 -1.7%
FY26 Q3 -7.4%
FY26 Q4 -6.0%
Operating margin (TTM) Lindsay Corp
8% 10% 12% 14% 16% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Operating margin (TTM), FY24 Q1: 15.0% Operating margin (TTM), FY24 Q2: 14.5% Operating margin (TTM), FY24 Q3: 14.0% Operating margin (TTM), FY24 Q4: 12.6% Operating margin (TTM), FY25 Q1: 12.5% Operating margin (TTM), FY25 Q2: 13.3% Operating margin (TTM), FY25 Q3: 13.3% Operating margin (TTM), FY25 Q4: 13.0% Operating margin (TTM), FY26 Q1: 13.0% Operating margin (TTM), FY26 Q2: 10.6% Operating margin (TTM), FY26 Q3: 9.9% Operating margin (TTM), FY26 Q4: 10.5% 10.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q1 15.0%
FY24 Q2 14.5%
FY24 Q3 14.0%
FY24 Q4 12.6%
FY25 Q1 12.5%
FY25 Q2 13.3%
FY25 Q3 13.3%
FY25 Q4 13.0%
FY26 Q1 13.0%
FY26 Q2 10.6%
FY26 Q3 9.9%
FY26 Q4 10.5%
FCF margin (TTM) Lindsay Corp
0% 5% 10% 15% 20% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 FCF margin (TTM), FY24 Q1: 17.4% FCF margin (TTM), FY24 Q2: 14.5% FCF margin (TTM), FY24 Q3: 12.0% FCF margin (TTM), FY24 Q4: 11.0% FCF margin (TTM), FY25 Q1: 10.5% FCF margin (TTM), FY25 Q2: 13.6% FCF margin (TTM), FY25 Q3: 13.0% FCF margin (TTM), FY25 Q4: 13.4% FCF margin (TTM), FY26 Q1: 9.4% FCF margin (TTM), FY26 Q2: 11.3% FCF margin (TTM), FY26 Q3: 7.2% FCF margin (TTM), FY26 Q4: 5.5% 5.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q1 17.4%
FY24 Q2 14.5%
FY24 Q3 12.0%
FY24 Q4 11.0%
FY25 Q1 10.5%
FY25 Q2 13.6%
FY25 Q3 13.0%
FY25 Q4 13.4%
FY26 Q1 9.4%
FY26 Q2 11.3%
FY26 Q3 7.2%
FY26 Q4 5.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Lindsay took in during FY2026, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $636M
  2. Other income $8.4M · 1.3%
  3. Cost of revenue $452M · 71.1%
  4. Gross profit $184M · 28.9%
  5. Research and development $17M · 2.7%
  6. Selling, general and admin $57.6M · 9.1%
  7. Other operating costs $42.3M · 6.6%
  8. Operating income $66.9M · 10.5%
  9. Income tax $19.7M · 3.1%
  10. Net income $55.7M · 8.8%

Shares of revenue. Source: Lindsay's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Aug 2010 2011 Aug 2011 2012 Aug 2012 2013 Aug 2013 2014 Aug 2014 2015 Aug 2015 2016 Aug 2016 2017 Aug 2017 2018 Aug 2018 2019 Aug 2019 2020 Aug 2020 2021 Aug 2021 2022 Aug 2022 2023 Aug 2023 2024 Aug 2024 2025 Aug 2025 2026 Aug 2026
Income
Revenue 358 479 551 691 618 560 516 518 548 444 475 568 771 674 607 676 636
Gross profit 99 130 149 195 171 156 149 145 151 115 153 150 199 213 191 211 184
EBITDA 49 68 78 120 93 67 51 57 56 20 74 73 115 121 98 109 90
Operating income 38 57 66 107 78 51 34 41 39 6 54 54 95 102 77 88 67
Net income 25 37 43 71 52 26 20 23 20 2 39 43 65 72 66 74 56
Diluted EPS $1.98 $2.90 $3.38 $5.47 $4.00 $2.22 $1.85 $2.17 $1.88 $0.20 $3.56 $3.88 $5.94 $6.54 $6.01 $6.78 $5.33
Growth (year on year)
Revenue — +33.6% +15.1% +25.3% −10.6% −9.3% −7.8% +0.3% +5.7% −18.9% +6.9% +19.6% +35.8% −12.5% −9.9% +11.4% −6.0%
EBITDA — +40.7% +14.1% +53.5% −22.2% −28.0% −23.6% +11.8% −3.1% −63.7% +265.6% −0.4% +56.7% +5.8% −19.5% +11.5% −17.5%
Operating income — +49.5% +15.8% +63.4% −26.8% −35.3% −32.2% +18.3% −4.0% −84.3% — −0.2% +74.9% +8.0% −25.0% +15.0% −24.1%
Net income — +48.0% +17.6% +63.1% −27.0% −48.9% −23.0% +14.4% −12.5% −89.3% — +10.2% +53.8% +10.6% −8.5% +11.8% −24.8%
Diluted EPS — +46.5% +16.6% +61.8% −26.9% −44.5% −16.7% +17.3% −13.4% −89.4% — +9.0% +53.1% +10.1% −8.1% +12.8% −21.4%
Margins
Gross margin 27.6% 27.1% 26.9% 28.2% 27.7% 27.9% 28.8% 28.0% 27.7% 25.8% 32.1% 26.5% 25.8% 31.6% 31.5% 31.2% 28.9%
EBITDA margin 13.5% 14.3% 14.1% 17.3% 15.1% 12.0% 9.9% 11.1% 10.1% 4.5% 15.5% 12.9% 14.9% 18.0% 16.1% 16.1% 14.2%
Operating margin 10.6% 11.8% 11.9% 15.5% 12.7% 9.0% 6.7% 7.8% 7.1% 1.4% 11.4% 9.5% 12.3% 15.2% 12.6% 13.0% 10.5%
Net margin 6.9% 7.7% 7.9% 10.2% 8.3% 4.7% 3.9% 4.5% 3.7% 0.5% 8.1% 7.5% 8.5% 10.7% 10.9% 10.9% 8.8%
Free-cash-flow margin 5.0% 7.2% 7.7% 6.7% 12.0% 6.1% 4.2% 5.9% 4.2% −4.4% 5.2% 3.1% −1.6% 15.0% 11.0% 13.4% 5.5%
Cash flow
Cash from operations 24 43 52 58 92 49 33 39 34 4 46 44 3 120 96 133 75
Capital spending 6 8 10 11 18 15 11 9 11 23 21 27 16 19 29 42 40
Free cash flow 18 35 43 46 74 34 22 31 23 −19 25 17 −13 101 67 90 35
Stock-based pay 2 3 4 5 4 3 3 4 4 4 6 6 5 7 6 8 6
Free cash flow after stock pay 16 31 39 42 70 31 19 27 19 −24 19 11 −18 94 60 82 29
Balance sheet
Cash 83 108 143 152 172 139 101 122 161 127 121 127 105 161 191 251 190
Total debt 0 9 9 0 0 117 117 117 117 117 116 116 116 116 116 115 115
Net debt (negative = net cash) −83 −100 −135 −152 −172 −22 16 −5 −44 −11 −5 −11 11 −45 −75 −135 −75
Diluted shares 13m 13m 13m 13m 13m 12m 11m 11m 11m 11m 11m 11m 11m 11m 11m 11m 10m
Returned to shareholders
Dividends 4 4 5 6 12 13 12 12 13 13 14 14 15 15 15 16 15
Buybacks — — — — 41 97 48 — — — — — 0 0 22 12 81
Total returned 4 4 5 6 53 110 61 12 13 13 14 14 15 15 38 27 96

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

7 of 7 checks passed · August 31, 2026
What it owns · $815m
Short-term assets $472mLonger-term assets $344m
What it owes, and who funded it · $815m
Short-term liabilities $150mLonger-term liabilities $160mShareholders' equity $506m
  • Short-term assets cover short-term liabilities $472m of assets due within a year against $150m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $472m short-term assets against $160m of longer-dated liabilities.
  • More cash than debt $190m of cash against $115m of debt.
  • Debt below 40% of shareholders' equity Debt is 23% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 32% to 23% over five years.
  • A year's operating cash flow covers at least 20% of debt $75m of operating cash flow against $115m of debt.
  • Operating profit covers interest at least five times over No material interest expense reported.

From Lindsay Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q4 TTM
Buybacks (TTM)
$80.7M
Dividends (TTM)
$15.4M
Returned to shareholders
277%
of free cash flow
Buybacks, last 3 fiscal years
$115M
Diluted share count
−4.4%
year over year
Total shareholder yield
8.6%
dividends 1.4% + buybacks 7.2% of market value
Dividend payout ratio
28%
of net income paid out
R&D spending
2.7%
of revenue

Competitors: side by side with peers

Closest by revenue in agricultural & farm machinery
Last 12 months unless stated LNN ALG TTC AGCO ARTW CNH Median
Revenue, last 12 months $636m $1.7bn $4.8bn $10.1bn $25m $18.2bn $4.8bn
Revenue growth, last 12 months −6.0% 4.1% 5.2% 0.9% 4.5% 0.6% 4.1%
Revenue growth, 3-year average −1.9% 1.1% 0.1% −11.3% −5.7% −9.7% −5.7%
Revenue growth, latest quarter 5.2% 7.6% 8.4% −8.6% −12.7% 2.0% 4.9%
Gross margin 28.9% 24.2% 33.4% 25.0% 26.0% 30.6% 26.0%
Operating margin 10.5% 8.9% 10.3% 5.6% −0.1% 6.0% 8.9%
Operating margin, 3-year average 12.1% 10.1% 10.4% 3.6% 1.9% — 10.3%
Net margin 8.8% 6.1% 7.6% 2.8% −1.6% 1.7% 6.1%
Cash from operations / revenue 11.8% 9.8% 16.6% 5.4% 3.8% 9.8% 9.8%
Free-cash-flow margin 5.5% 8.1% 15.0% 2.9% −4.1% 2.5% 5.5%
Free-cash-flow margin, 3-year average 9.9% 8.5% 11.4% 4.4% 0.8% — 9.2%
Stock pay / revenue 0.9% 0.5% 0.5% 0.4% 0.8% 0.1% 0.5%
Change in share count −4.4% 0.4% −3.7% −3.8% 1.7% −0.6% −0.6%

Median of all 7 companies we cover in agricultural & farm machinery. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

7 agricultural & farm machinery companies
Measure Company Peer median Rank
Revenue growth Growth -6.0% 4.1% 7 of 7
Change in growth rate Growth +1.4pp +1.8pp 5 of 7
Gross margin Profitability 28.9% 28.9% 3 of 6
Operating margin Profitability 10.5% 8.9% 1 of 5
Net margin Profitability 8.8% 6.1% 2 of 7
Free-cash-flow margin Cash generation 5.5% 8.1% 4 of 6
Stock pay as % of revenue Cash generation 0.9% 0.5% 6 of 6
Long-term debt as % of assets Balance sheet 14.1% 15.0% 2 of 5
Change in share count Balance sheet -4.4% -0.6% 1 of 7

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to August 31, 2026
Segments
Line of business Revenue YoY
Irrigation $541M ▼ 4.7%
Infrastructure $78.3M ▼ 14.0%

These categories overlap or exclude eliminations, so shares aren't shown.

From Lindsay Corp's 10-K filed October 22, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$1.3B
Institutions reporting
232
Shares held vs prior quarter
▲ 5.4%
Positions opened / closed
32 / 31

Top buyers and sellers, Q2 2026: 126 institutions bought and 98 sold ; the biggest buyer was Two Sigma Investments, LP (+170K shares) and the biggest seller Westwood Holdings Group Inc (−295K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $219M 1.8M 16.9% ▲ 1.9%
Neuberger Berman Group LLC $113M 912K 8.7% ▲ 0.8%
Vanguard Portfolio Management LLC $80.9M 653K 6.2% ▼ 0.4%
State Street Corp $61.1M 493K 4.7% ▲ 17.0%
Vanguard Capital Management LLC $57.8M 467K 4.4% ▼ 1.8%
Amundi $52.4M 423K 4.0% ▲ 64.4%
Dimensional Fund Advisors LP $50.6M 408K 3.9% ▲ 15.9%
American Century Companies Inc $41.8M 338K 3.2% ▲ 55.2%
Geode Capital Management, LLC $34.9M 282K 2.7% ▲ 6.4%
Two Sigma Investments, LP $34.8M 281K 2.7% ▲ 153.4%
KBC Group NV $33.2M 269K 2.6% ▼ 0.1%
T. Rowe Price Investment Management, Inc. $30.4M 246K 2.3% ▲ 16.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Lindsay Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 3 trades and filings

No trades in Lindsay Corp disclosed in the last 12 months; 3 earlier trades on record.

  • Peter Welch(D-VT):Sale (full), $1,001 - $15,000, traded September 12, 2019, filed October 14, 2019
  • Peter Welch(D-VT):Sale (full), $1,001 - $15,000, traded November 5, 2018, filed December 5, 2018
  • Peter Welch(D-VT):Sale (full), $1,001 - $15,000, traded June 22, 2018, filed July 6, 2018

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 7, 2027 estimated from the company's past filing pattern, not announced

  • October 22, 2026
  • July 2, 2026
  • April 2, 2026
  • January 8, 2026
  • October 23, 2025
  • June 26, 2025

Recent SEC filings

Data status

When each part of this page on Lindsay Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Lindsay Corp in brief

What does Lindsay Corp do?
Lindsay Corp is a US-listed company in the agricultural & farm machinery industry. Its financial year ends in August.
What is Lindsay Corp's stock ticker?
Lindsay Corp trades under the ticker LNN on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Lindsay Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Lindsay Corp reported revenue of $636M, 6.0% lower than a year earlier, according to its SEC filings.
What is Lindsay Corp's free cash flow?
Lindsay Corp's free-cash-flow margin is 5.5% of revenue over the trailing twelve months, ranking 4 of the 6 agricultural & farm machinery companies we cover.
What is Lindsay Corp's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Lindsay Corp's free cash flow after stock-based pay gives ~$98 per share in the base case, and ~$75–$130 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Lindsay Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Neuberger Berman Group LLC and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Lindsay Corp buying back stock, and does it pay a dividend?
Lindsay Corp spent $80.7M on share repurchases over the trailing twelve months, and its diluted share count fell 4.4% over the year.
What is Lindsay Corp's market cap?
On August 31, 2026, Lindsay Corp's market capitalisation was about $1.2B, with a price-to-earnings ratio of 21.5 and net debt of -$74.8M. Market figures come from third-party market data and may be delayed.
Does Lindsay Corp pay a dividend?
Yes: Lindsay Corp paid $15.4M in dividends over the trailing twelve months, a dividend yield of 1.37% and a payout ratio of 27.7%.
How much debt does Lindsay Corp have?
Lindsay Corp's debt-to-equity ratio is 22.7%, from its latest balance sheet (32.4% five years earlier). The financial health section below sets out its other solvency checks.
Who are Lindsay Corp's competitors?
In our Agricultural & Farm Machinery peer group, the companies closest to Lindsay Corp are Alamo Group Inc, Toro Co, AGCO Corp, Arts WAY Manufacturing Co Inc and CNH Industrial N.V. The side-by-side comparison below sets their revenue, margins and growth against Lindsay Corp's.
When is Lindsay Corp's next earnings date?
Around January 7, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Lindsay Corp announces its own schedule.