LINDBLAD EXPEDITIONS HOLDINGS, INC.
Company Stats
- Market Cap
- $2.1B
- as of Sep 30, 2026
- Enterprise Value
- $2.5B
- Shares Outstanding
- 65.6M
- Free Float
- 51.5%
Income Statement
- Revenue
- $771.0M
- Operating Income
- $45.5M
- Net Income
- -$29.7M
- EBITDA
- $108.3M
- Revenue Growth, 3Y
- 22.3%
- FCF Margin, 3Y Avg
- 5.5%
- FCF Margin, Worst Year
- -0.8%
Cash Flow
- Free Cash Flow
- $63.8M
- FCF Yield
- 3.1%
- Owner FCF Yield
- 2.4%
Balance Sheet
- Cash & Equivalents
- $256.7M
- Total Debt
- $675.0M
- Net Debt
- $418.3M
- Net Debt / EBITDA
- 3.86x
- EV / EBITDA
- 22.90x
- Net Debt / EBIT
- 9.20x
Returns & Capital
- SBC, 3Y Avg
- $12.4M
Cash Flow by Year
| Year | Revenue | FCF | Margin |
|---|---|---|---|
| FY2025 | $771.0M | $63.8M | 8.3% |
| FY2024 | $644.7M | $58.8M | 9.1% |
| FY2023 | $569.5M | -$4.5M | -0.8% |
| FY2022 | $421.5M | -$40.4M | -9.6% |
| FY2021 | $147.1M | -$64.2M | -43.6% |
Annual filing data through FY ended December 31, 2025; shares and float as of October 12, 2026. Yields and enterprise value use the calculated market cap above, at its as-of date. Ratios are our calculations from reported figures.
Stronger demand supports expansion as pricing diverges
Lindblad Expeditions to Buy White Desert for $61 Million