Linamar Corporation LNR

Consumer DiscretionaryAutomobiles & Auto PartsCanada

Last close 88.50 CAD on Nov 1, 2026, +7.7% year to date

Quant rating

Quant rating C Rank 14 of 32 in Consumer Discretionary

Growth B 8 of 32
Valuation A 2 of 32
Quality B 10 of 32
Revisions C 20 of 32
Momentum D 24 of 32

Wall Street consensus Buy (2.33)Average target 108.33 CAD +22.4%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 5.2B
Enterprise value: 6.1B
52-week range: 73.27 – 110.58
3-year range: 44.21 – 110.58
Dividend yield: 1.45%
Beta (5 years): 1.26
Shares outstanding: 58.7M
Next earnings: Nov 4, 2026

About the company

Linamar Corporation is a diversified advanced manufacturing company. The Company is engaged in manufacturing highly engineered products. Its segments include Mobility and Industrial. The Mobility segment is engaged in collaborative design, development and manufacture of propulsion systems, structural and chassis systems, energy storage and power generation for both the global electrified and traditionally powered markets. The Mobility segment is organized into three regional groups: North America, Europe, Asia Pacific and the structures product group. Additionally, its McLaren engineering offers design, development, and testing services. The Industrial segment is engaged in the design and production of industrial equipment, including aerial work platforms, telehandlers, and agricultural equipment. The Industrial segment includes Skyjack, MacDon, Salford, and Bourgault. Skyjack manufactures scissors, boom and telehandler lifts for the aerial work platform industry.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	10,232	10,582	9,734	7,918	6,537	–
Revenue growth	−3.3%	8.7%	22.9%	21.1%	12.4%	12.0%
EPS (basic, normalized)	10.36	9.81	8.78	6.26	6.53	–
EPS growth	5.6%	11.7%	40.3%	−4.1%	–	–
Gross margin	14.8%	14.2%	13.6%	12.3%	14.3%	13.9%
Net margin	5.7%	2.4%	5.2%	5.4%	6.4%	5.0%
ROE	10.1%	4.8%	9.9%	9.1%	9.4%	8.7%

Balance sheet, last quarter
Cash & short-term investments (mil)	1,270
Current ratio	1.88x
Long-term debt (mil)	2,085
Net debt (mil)	880
Total equity (mil)	6,538
Net debt / equity	0.13x
Net debt / EBITDA	0.56x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	10,232	−3.3%	0.6x	1,577	+4.2%	3.9x	10.36	+5.6%	8.5x
2026	11,760	+14.9%	0.5x	1,702	+7.9%	3.6x	11.58	+11.7%	7.6x
2027	12,222	+3.9%	0.5x	1,788	+5.1%	3.4x	12.88	+11.2%	6.9x
2028	12,853	+5.2%	0.5x	1,983	+10.9%	3.1x	15.80	+22.7%	5.6x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	11,760	−0.1%	+0.7%	+4.0%	11.58	−1.2%	−3.0%	+0.7%
2027	12,222	−0.3%	+1.0%	+4.1%	12.88	−1.5%	−2.3%	+0.3%
2028	12,853	0.0%	–	–	15.80	0.0%	–	–

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	2,722	2,849	2,636	2,376	2,532	2,643	2,542	2,515	2,939	3,139
Sales mean (mil)	2,654	2,944	2,649	2,386	2,576	2,699	2,547	2,462	2,806	3,029
Surprise	+2.6%	−3.2%	−0.5%	−0.4%	−1.7%	−2.1%	−0.2%	+2.2%	+4.8%	+3.6%
EPS reported	2.59	3.06	2.35	1.82	2.76	2.81	2.51	2.28	3.28	3.08
EPS mean	2.06	2.97	2.34	1.57	2.44	2.75	2.39	1.99	2.81	3.14
Surprise	+25.7%	+3.0%	+0.4%	+15.6%	+13.3%	+2.0%	+5.0%	+14.8%	+16.8%	−2.0%

Peer comparison Automobiles & Auto Parts

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
LNR Linamar Corporation	5.2B	0.56x	5.7%	0.80x	7.6x	6.9x	3.6x	3.4x
MGA Magna International Inc.	23.5B	0.91x	2.0%	1.45x	9.0x	8.2x	4.7x	4.7x
BWA BorgWarner Inc.	14.5B	0.72x	1.9%	1.83x	9.8x	8.7x	5.6x	5.3x
ALV Autoliv, Inc.	11.8B	1.15x	6.8%	3.44x	11.3x	10.1x	6.5x	6.2x
GTX Garrett Motion Inc.	5.4B	1.82x	8.6%	−6.27x	10.7x	9.5x	7.2x	6.9x
GNTX Gentex Corporation	5.9B	–	15.0%	1.69x	9.9x	9.3x	6.7x	6.5x
Mean		1.03x	6.7%	0.49x	9.7x	8.8x	5.7x	5.5x
Median		0.91x	6.3%	1.57x	9.9x	9.0x	6.1x	5.7x

Technical analysis

1M−9.3%
3M−15.5%
1Y+18.6%
3Y+53.9%

Financial statements in millions of CAD

Income statement in millions of CAD, fiscal years

Income statement, Linamar Corporation, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	10,232	10,582	9,734	7,918	6,537	5,816
Cost of revenue	8,714	9,078	8,411	6,943	5,599	5,027
Gross profit	1,517	1,504	1,323	975	938	788
Selling, general & administrative expenses	583	588	524	408	346	349
Research & development	–	–	–	–	–	–
Depreciation/amortization	4.4	3.9	2.4	2.7	3.2	4.5
Interest expense (income), operating	41.8	−66.3	19.2	21.8	−12.4	11.4
Unusual expense (income)	0	386	0	−51.6	–	–
Other operating expenses	−3.9	−18.6	2.2	−1.4	−0.8	−0.8
Operating income	892	611	775	595	601	424
Net interest income (expense)	−66.4	−108	−46.0	−17.2	−31.5	−42.3
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−24.5	−27.3	−25.0	−14.6	−7.6	−7.5
Net income before taxes	801	476	704	563	562	374
Provision for taxes	217	218	201	137	142	95.3
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	585	258	503	426	421	279
Extraordinary items	–	–	–	–	–	–
Net income	585	258	503	426	421	279
EBIT, normalized	934	1,047	794	565	545	353
EBITDA, normalized	1,556	1,652	1,286	1,006	994	808
Basic EPS, normalized	10.36	9.81	8.78	6.26	6.53	–

Balance sheet in millions of CAD, fiscal years

Balance sheet, Linamar Corporation, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	911	1,055	653	861	928	861
Receivables	1,486	1,411	1,409	1,262	938	963
Total inventory	2,055	2,062	1,837	1,509	1,066	864
Prepaid expenses	86.9	79.5	65.1	47.3	40.6	34.8
Other current assets	29.9	0	33.0	14.2	9.1	26.4
Total current assets	4,569	4,607	3,997	3,693	2,982	2,750
Property, plant & equipment	3,914	3,643	3,652	2,793	2,416	2,624
Goodwill	950	833	1,033	949	853	890
Intangibles	1,110	1,135	942	903	806	864
Long-term investments	–	–	8.2	18.2	14.4	6.6
Note receivable	51.8	32.0	39.1	47.6	186	310
Other long-term assets	297	251	178	172	132	111
Total assets	10,892	10,500	9,850	8,576	7,390	7,557
Liabilities
Accounts payable	1,326	1,280	1,428	1,231	984	866
Payable/accrued	–	–	–	–	–	–
Accrued expenses	773	783	745	623	619	587
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	287	45.7	40.5	26.7	21.1	577
Other current liabilities	253	379	306	275	121	168
Total current liabilities	2,639	2,487	2,519	2,156	1,745	2,197
Long-term debt	1,811	2,247	1,732	1,282	770	726
Minority interest	–	–	–	–	–	–
Other liabilities	344	338	278	327	276	280
Total liabilities	4,794	5,072	4,528	3,765	2,792	3,203
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	149	141	142	139	146	146
Additional paid-in capital	37.1	37.7	34.2	31.4	28.8	25.5
Retained earnings (accumulated deficit)	5,643	5,202	5,046	4,598	4,450	4,074
Treasury stock	–	–	–	–	–	–
Other equity	268	47.9	99.4	43.9	−25.9	108
Total equity	6,097	5,428	5,322	4,812	4,599	4,353
Total liabilities & shareholders' equity	10,892	10,500	9,850	8,576	7,390	7,557

Cash flow statement in millions of CAD, fiscal years

Cash flow statement, Linamar Corporation, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	585	258	503	426	421	279
Depreciation, depletion & amortization	622	605	492	441	449	455
Deferred taxes	−47.1	−54.7	−62.7	−14.8	−26.2	−44.7
Non-cash items	104	656	70.2	12.9	19.3	82.6
Changes in working capital	67.2	−211	−209	−397	46.4	662
Cash from operations	1,331	1,254	794	468	909	1,434
Investing activities
Capital expenditures	−422	−564	−790	−423	−255	−292
Other investing cash flows	−416	−554	−404	−292	−12.8	1.3
Cash from investing	−837	−1,117	−1,194	−716	−267	−290
Financing activities
Financing cash flow items	−88.8	−128	−48.2	−20.4	−39.8	18.4
Cash dividends paid	−67.0	−61.5	−54.1	−51.1	−44.5	−23.5
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−490	425	310	228	−488	−611
Cash from financing	−646	236	207	156	−572	−616
Foreign exchange effects	8.5	28.8	−14.1	23.3	−2.0	−4.5
Net change in cash	−144	401	−207	−67.9	67.3	523
Free cash flow	909	690	3.3	44.9	654	1,142

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.