Lindsay Corporation LNN

IndustrialsMachinery, Tools, Heavy Vehicles, Trains & ShipsUnited States of America

Last close 109.74 USD on Nov 2, 2026, −6.0% year to date

Quant rating

Quant rating D Rank 350 of 486 in Industrials

Growth D 377 of 486
Valuation C 196 of 486
Quality B 192 of 486
Revisions D 409 of 486
Momentum C 311 of 486

Wall Street consensus Hold (2.60)Average target 118.77 USD +8.2%

Historical valuation

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

Key data

Market cap: 1.1B
Enterprise value: 1.0B
52-week range: 97.84 – 139.81
3-year range: 97.84 – 148.29
Dividend yield: 1.41%
Beta (5 years): 0.73
Shares outstanding: 10.2M
Next earnings: Jan 6, 2027

About the company

Lindsay Corporation is a global manufacturer and distributor of irrigation and infrastructure equipment and technology. The Company operates through two segments: Irrigation and Infrastructure. Its Irrigation segment includes the manufacture and marketing of enter pivot, lateral move, and hose reel irrigation systems and large diameter steel tubing, as well as various innovative technology solutions such as GPS positioning and guidance, variable rate irrigation, remote irrigation management and scheduling technology, and industrial IoT solutions. Its Infrastructure segment includes the manufacture and marketing of moveable barriers, specialty barriers, crash cushions and end terminals, and road marking and road safety equipment. Its irrigation brands include Zimmatic, FieldNET, FieldWise, and FieldNET Advisor. It also manufactures equipment to improve road safety and keep traffic moving on the roads, bridges and tunnels, through the Barrier Systems, Road Zipper and Snoline brands.

Growth and profitability fiscal year ends August 31

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	676	607	674	771	568	–
Revenue growth	11.4%	−9.9%	−12.5%	35.8%	19.6%	7.3%
EPS (basic, normalized)	6.78	6.01	6.54	5.94	3.88	–
EPS growth	12.8%	−8.1%	10.1%	53.1%	–	–
Gross margin	31.2%	31.5%	31.6%	25.8%	26.5%	29.3%
Net margin	10.9%	10.9%	10.7%	8.5%	7.6%	9.7%
ROE	14.6%	14.1%	17.0%	18.0%	13.5%	15.4%

Balance sheet, last quarter
Cash & short-term investments (mil)	190
Current ratio	3.15x
Long-term debt (mil)	115
Net debt (mil)	−75.0
Total equity (mil)	506
Net debt / equity	−0.15x
Net debt / EBITDA	−0.83x

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
2026 actual	676	+11.4%	1.5x	90.0	−18.9%	11.6x	5.33	−21.4%	20.6x
2027	599	−11.4%	1.7x	82.8	−8.0%	12.6x	5.09	−4.5%	21.6x
2028	638	+6.5%	1.6x	88.6	+6.9%	11.8x	5.74	+12.7%	19.1x
2029	668	+4.7%	1.6x	101	+14.2%	10.3x	6.29	+9.6%	17.4x

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
2027	599	−3.4%	−1.1%	−9.4%	5.09	−10.7%	−12.5%	−19.7%
2028	638	−3.8%	−3.3%	−8.3%	5.74	−9.6%	−9.5%	−8.5%
2029	668	−6.3%	−6.3%	−9.9%	6.29	−16.8%	−16.8%	−14.4%

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Feb 2024	May 2024	Aug 2024	Nov 2024	Feb 2025	May 2025	Aug 2025	Nov 2025	Feb 2026	May 2026
Sales reported (mil)	152	139	155	166	187	169	154	156	158	161
Sales mean (mil)	172	144	145	170	177	158	157	167	171	158
Surprise	−11.9%	−3.6%	+6.6%	−2.1%	+5.5%	+7.3%	−2.1%	−6.6%	−8.0%	+1.9%
EPS reported	1.64	1.85	1.17	1.57	2.44	1.78	0.99	1.54	1.15	1.53
EPS mean	1.55	1.17	1.01	1.40	1.89	1.41	1.10	1.48	1.69	1.21
Surprise	+5.5%	+57.8%	+15.6%	+12.5%	+28.9%	+26.7%	−10.0%	+4.4%	−31.8%	+26.7%

Peer comparison Machinery, Tools, Heavy Vehicles, Trains & Ships

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
LNN Lindsay Corporation	1.1B	−0.83x	10.9%	2.21x	21.6x	19.1x	12.6x	11.8x
CAT Caterpillar Inc	282.1B	2.87x	13.1%	13.13x	22.5x	19.0x	18.2x	15.5x
PH Parker-Hannifin Corporation	117.1B	1.43x	17.0%	7.59x	26.1x	23.5x	18.4x	16.9x
VRT Vertiv Holdings Co	86.3B	−0.36x	13.0%	15.69x	31.7x	23.2x	23.5x	16.8x
IR Ingersoll Rand Inc.	31.8B	1.65x	7.6%	3.02x	23.0x	21.1x	16.4x	15.2x
XYL Xylem Inc	22.3B	1.21x	10.6%	2.18x	17.9x	16.6x	12.1x	11.3x
Mean		0.99x	12.0%	7.30x	23.8x	20.4x	16.9x	14.6x
Median		1.32x	12.0%	5.31x	22.8x	20.1x	17.3x	15.4x

Technical analysis

1M−4.0%
3M−0.6%
1Y−0.1%
3Y−10.5%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Lindsay Corporation, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	676	607	674	771	568	475
Cost of revenue	466	416	461	572	417	323
Gross profit	211	191	213	199	150	151
Selling, general & administrative expenses	105	97.3	92.6	89.4	82.7	84.4
Research & development	17.9	17.1	18.2	15.1	13.4	13.9
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	–	–	–	–	−1.2
Other operating expenses	0	0	0	0	0	0
Operating income	88.1	76.6	102	94.6	54.1	54.2
Net interest income (expense)	5.9	2.0	−1.0	−3.6	−3.7	−2.8
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0.6	0.5	−0.8	−3.1	−0.1	−2.6
Net income before taxes	94.6	79.0	100	87.9	50.4	48.8
Provision for taxes	20.5	12.8	28.1	22.1	7.5	10.4
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	74.1	66.3	72.3	65.8	42.9	38.5
Extraordinary items	–	0	0.1	−0.3	−0.3	0.2
Net income	74.1	66.3	72.4	65.5	42.6	38.6
EBIT, normalized	88.1	76.6	102	94.6	54.1	53.0
EBITDA, normalized	105	94.3	118	110	69.0	67.1
Basic EPS, normalized	6.78	6.01	6.54	5.94	3.88	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Lindsay Corporation, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	251	191	166	117	147	141
Receivables	114	120	146	139	94.9	85.5
Total inventory	137	154	156	194	145	105
Prepaid expenses	–	–	–	–	–	–
Other current assets	31.2	28.0	19.2	27.7	29.2	16.7
Total current assets	533	493	487	477	416	348
Property, plant & equipment	160	129	117	114	110	107
Goodwill	84.5	84.2	83.1	67.1	68.0	68.0
Intangibles	23.3	25.4	27.7	18.2	20.4	23.5
Long-term investments	8.8	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	31.1	29.0	30.6	34.6	22.5	24.1
Total assets	841	760	746	711	637	571
Liabilities
Accounts payable	48.7	37.4	44.3	60.0	45.2	29.6
Payable/accrued	–	–	–	–	–	–
Accrued expenses	34.4	26.8	30.4	31.7	27.7	28.5
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	0.2	0.2	0.2	0.2	0.2	0.2
Other current liabilities	60.3	61.4	61.2	69.0	65.1	44.1
Total current liabilities	144	126	136	161	138	102
Long-term debt	115	115	115	115	116	116
Minority interest	–	–	–	–	–	–
Other liabilities	49.6	38.5	38.7	41.0	45.0	53.9
Total liabilities	308	279	290	317	299	272
Shareholders' equity
Preferred stock	0	–	–	–	0	0
Common stock	19.2	19.1	19.1	19.1	19.0	18.9
Additional paid-in capital	113	104	98.5	94.0	86.5	77.7
Retained earnings (accumulated deficit)	745	687	636	579	528	500
Treasury stock	−311	−300	−277	−277	−277	−277
Other equity	−33.5	−30.0	−21.0	−21.5	−17.9	−20.6
Total equity	533	481	456	393	338	299
Total liabilities & shareholders' equity	841	760	746	711	637	571

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Lindsay Corporation, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	74.1	66.3	72.4	65.5	42.6	38.6
Depreciation, depletion & amortization	20.9	21.2	19.3	20.2	19.2	19.4
Deferred taxes	−1.4	−3.9	0	−2.1	1.9	1.4
Non-cash items	6.4	6.6	10.1	9.3	4.2	7.6
Changes in working capital	33.0	5.6	17.9	−89.9	−23.9	−21.0
Cash from operations	133	95.8	120	3.0	44.0	46.0
Investing activities
Capital expenditures	−42.5	−29.0	−18.8	−15.6	−26.5	−21.4
Other investing cash flows	−6.1	3.0	−28.6	6.6	−1.1	−17.1
Cash from investing	−48.6	−25.9	−47.4	−8.9	−27.6	−38.5
Financing activities
Financing cash flow items	−1.1	−1.2	−2.0	−0.8	−1.3	−1.1
Cash dividends paid	−15.7	−15.5	−15.1	−14.6	−14.2	−13.6
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−10.0	−22.0	−0.2	2.7	3.8	1.3
Cash from financing	−26.9	−38.6	−17.3	−12.7	−11.7	−13.4
Foreign exchange effects	2.2	−1.1	0.7	−3.5	1.0	0.1
Net change in cash	59.7	30.1	55.7	−22.1	5.7	−5.8
Free cash flow	90.4	66.8	101	−12.5	17.5	24.6

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 2, 2026 after market close.