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Stocks · Industrials · Transportation Services

LINDBLAD EXPEDITIONS HOLDINGS, INC.

LIND Clue Score47
United States Fiscal year ends December CIK 0001512499
$35.82 +0.79% Close, 9 Oct 2026
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Price $35.82 +139.76% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue242.3Operating income14.0Net income4.9EPS, diluted0.10Fiscal year 2017Revenue266.5 +10.0%Operating income10.7Net income−8.7 −278.1%EPS, diluted−0.19 −290.0%Fiscal year 2018Revenue309.7 +16.2%Operating income25.3Net income11.4EPS, diluted0.24Fiscal year 2019Revenue343.1 +10.8%Operating income33.2Net income16.4 +44.1%EPS, diluted0.28 +16.7%Fiscal year 2020Revenue82.4 −76.0%Operating income−88.4Net income−98.7 −703.8%EPS, diluted−2.01 −817.9%Fiscal year 2021Revenue147.1 +78.6%Operating income−110.8Net income−119.2EPS, diluted−2.41Fiscal year 2022Revenue421.5 +186.5%Operating income−63.0Net income−111.4EPS, diluted−2.23Fiscal year 2023Revenue569.5 +35.1%Operating income10.6Net income−45.6EPS, diluted−0.94Fiscal year 2024Revenue644.7 +13.2%Operating income21.6Net income−31.2EPS, diluted−0.67Fiscal year 2025Revenue771.0 +19.6%Operating income45.5Net income−29.7EPS, diluted−0.63
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 242.3 266.5 309.7 343.1 82.4 147.1 421.5 569.5 644.7 771.0
Growth +10.0% +16.2% +10.8% −76.0% +78.6% +186.5% +35.1% +13.2% +19.6%
Operating income 14.0 10.7 25.3 33.2 −88.4 −110.8 −63.0 10.6 21.6 45.5
Net income 4.9 −8.7 11.4 16.4 −98.7 −119.2 −111.4 −45.6 −31.2 −29.7
Growth −278.1% +44.1% −703.8%
EPS, diluted 0.10 −0.19 0.24 0.28 −2.01 −2.41 −2.23 −0.94 −0.67 −0.63
Growth −290.0% +16.7% −817.9%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin50.9%Operating margin5.8%Net margin2.0%Free cash flow margin−18.4%Fiscal year 2017Gross margin49.1%Operating margin4.0%Net margin−3.2%Free cash flow margin−10.3%Fiscal year 2018Gross margin50.4%Operating margin8.2%Net margin3.7%Free cash flow margin0.6%Fiscal year 2019Operating margin9.7%Net margin4.8%Free cash flow margin−9.7%Fiscal year 2020Operating margin−107.3%Net margin−119.9%Free cash flow margin−300.8%Fiscal year 2021Operating margin−75.3%Net margin−81.0%Free cash flow margin−43.6%Fiscal year 2022Operating margin−15.0%Net margin−26.4%Free cash flow margin−9.6%Fiscal year 2023Operating margin1.9%Net margin−8.0%Free cash flow margin−0.8%Fiscal year 2024Operating margin3.3%Net margin−4.8%Free cash flow margin9.1%Fiscal year 2025Operating margin5.9%Net margin−3.9%Free cash flow margin8.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 50.9% 49.1% 50.4% n/a n/a n/a n/a n/a n/a n/a
Operating margin 5.8% 4.0% 8.2% 9.7% −107.3% −75.3% −15.0% 1.9% 3.3% 5.9%
Net margin 2.0% −3.2% 3.7% 4.8% −119.9% −81.0% −26.4% −8.0% −4.8% −3.9%
Free cash flow margin −18.4% −10.3% 0.6% −9.7% −300.8% −43.6% −9.6% −0.8% 9.1% 8.3%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow31.4Capital expenditure−75.9Free cash flow−44.5Fiscal year 2017Operating cash flow52.9Capital expenditure−80.5Free cash flow−27.6Fiscal year 2018Operating cash flow56.4Capital expenditure−54.3Free cash flow2.0Fiscal year 2019Operating cash flow62.6Capital expenditure−96.0Free cash flow−33.4 −1,761.0%Fiscal year 2020Operating cash flow−92.3Capital expenditure−155.5Free cash flow−247.7Fiscal year 2021Operating cash flow32.5Capital expenditure−96.7Free cash flow−64.2Fiscal year 2022Operating cash flow−2.2Capital expenditure−38.2Free cash flow−40.4Fiscal year 2023Operating cash flow25.4Capital expenditure−30.0Free cash flow−4.5Fiscal year 2024Operating cash flow92.4Capital expenditure−33.5Free cash flow58.8Fiscal year 2025Operating cash flow111.6Capital expenditure−47.7Free cash flow63.8 +8.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 31.4 52.9 56.4 62.6 −92.3 32.5 −2.2 25.4 92.4 111.6
Capital expenditure −75.9 −80.5 −54.3 −96.0 −155.5 −96.7 −38.2 −30.0 −33.5 −47.7
Free cash flow −44.5 −27.6 2.0 −33.4 −247.7 −64.2 −40.4 −4.5 58.8 63.8
Growth −1,761.0% +8.5%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash135.4Total debt165.9Net cash (debt)−30.5Shareholders’ equity113.8Debt to equity1.46Fiscal year 2017Cash96.4Total debt165.9Net cash (debt)−69.5Shareholders’ equity106.3Debt to equity1.56Fiscal year 2018Cash113.4Total debt190.1Net cash (debt)−76.7Shareholders’ equity116.0Debt to equity1.64Fiscal year 2019Cash101.6Total debt218.1Net cash (debt)−116.5Shareholders’ equity123.3Debt to equity1.77Fiscal year 2020Cash187.5Total debt482.6Net cash (debt)−295.1Shareholders’ equity35.0Debt to equity13.81Fiscal year 2021Cash150.8Total debt544.7Net cash (debt)−394.0Shareholders’ equity−78.6Fiscal year 2022Cash87.2Total debt552.8Net cash (debt)−465.6Shareholders’ equity−182.7Fiscal year 2023Cash156.8Total debt621.8Net cash (debt)−465.0Shareholders’ equity−225.1Fiscal year 2024Cash183.9Total debt625.5Net cash (debt)−441.5Shareholders’ equity−253.1Fiscal year 2025Cash256.7Total debt662.7Net cash (debt)−406.0Shareholders’ equity−284.5
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 135.4 96.4 113.4 101.6 187.5 150.8 87.2 156.8 183.9 256.7
Total debt 165.9 165.9 190.1 218.1 482.6 544.7 552.8 621.8 625.5 662.7
Net cash (debt) −30.5 −69.5 −76.7 −116.5 −295.1 −394.0 −465.6 −465.0 −441.5 −406.0
Shareholders’ equity 113.8 106.3 116.0 123.3 35.0 −78.6 −182.7 −225.1 −253.1 −284.5
Debt to equity 1.46 1.56 1.64 1.77 13.81 n/a n/a n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
50.9% 49.1% 50.4% n/a n/a n/a n/a n/a n/a n/a
5.8% 4.0% 8.2% 9.7% −107.3% −75.3% −15.0% 1.9% 3.3% 5.9%
0.8% 0.9% 3.9% 6.1% −133.5% −82.4% −24.2% −6.6% −3.9% −2.8%
2.0% −3.2% 3.7% 4.8% −119.9% −81.0% −26.4% −8.0% −4.8% −3.9%
−18.4% −10.3% 0.6% −9.7% −300.8% −43.6% −9.6% −0.8% 9.1% 8.3%
Spending
21.4% 22.7% 20.3% 18.3% 55.3% 44.5% 22.8% 18.0% 18.8% 16.9%
31.3% 30.2% 17.5% 28.0% 188.8% 65.7% 9.1% 5.3% 5.2% 6.2%
−172.1% 404.4% 5.1% 10.5% n/a n/a n/a n/a n/a n/a
Returns
4.3% −8.1% 9.8% 13.3% −282.4% n/a n/a n/a n/a n/a
1.2% −2.0% 2.4% 3.0% −13.0% −14.4% −14.1% −5.5% −3.6% −3.0%
Balance and payout
1.46 1.56 1.64 1.77 13.81 n/a n/a n/a n/a n/a
70.8% 73.5% 74.1% 74.6% 83.3% 98.1% 110.9% 113.7% 116.6% 115.7%