Lindblad Expeditions Holdings (LIND) AI Stock Analysis

• Market Cap: $579.90M
• Dividend Yield: N/A
• Average Volume (3M): 300.81K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.27
• Revenue Growth: 15.71%
• EPS Growth: 44.28%
• Country: US
• Employees: 1,230
• Sector: Consumer Cyclical
• Sector Strength: 58
• Industry: Travel Services
• EPS (TTM): 0.00
• Shares Outstanding: 54,707,947
• 10 Day Avg. Volume: 258,690
• 30 Day Avg. Volume: 300,806
• PEG Ratio: -2.12
• Price to Book (P/B): -2.47
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 11.08
• Enterprise Value/Market Cap: 1.83
• Enterprise Value/Revenue: 0.42
• Enterprise Value/Gross Profit: 3.55
• Enterprise Value/Ebitda: 3.81
• 1Y Price Target: $16.50
• Price Target Upside: 55.66% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3

• Rating: 64 Neutral
• Price Target: $11.50 ▲(8.49%Upside)

The overall stock score of 64 reflects Lindblad's robust earnings call performance and positive technical indicators. However, the significant financial challenges, including negative equity and valuation concerns, weigh down the score. The optimistic outlook, driven by strategic initiatives and partnerships, offsets some risks, but financial stability remains a key area for improvement.

Positive Factors

Demand Stability

Booking patterns are consistent with historical levels, suggesting stable demand despite macroeconomic uncertainties.

Financial Performance

The company posted quarterly EBITDA 55% ahead of consensus, driven by a 1,300bps year-over-year occupancy gain and year-over-year net yield growth of 25%.

Marketing Strategy

The combination of LIND’s expanded salesforce, dynamic pricing enhancements, and robust charter/land-based offerings should deliver powerful synergies as the company’s marketing efforts become more integrated with Disney’s vast database of high-income, travel-inclined customers.

Partnerships

The Disney/NG partnership is expected to pay significant dividends over time, supporting LIND’s thesis that occupancy levels can return to pre-pandemic levels by 2026.

Negative Factors

Capacity Challenges

Fluctuations in available guest nights will pose a headwind for yields and occupancy through the balance of the fiscal year as LIND has guided to 1.5% capacity growth for the full year.

Capacity Expansion

Optimism for acquiring additional used vessels, which could enhance capacity and growth opportunities, may face challenges.

Lindblad Expeditions Holdings Business Overview & Revenue Model

Company Description

Lindblad Expeditions Holdings, Inc. provides expedition cruising and land-based adventure travel experiences. The company delivers voyages through a fleet of ten owned expedition ships and five seasonal charter vessels under the Lindblad brand; and operates eco-conscious expeditions and nature focused small-group tours under the Natural Habitat brand. The company also provides luxury cycling and adventure tours worldwide under the DuVine name; active small group and private custom journeys throughout the United States national park under the Off the Beaten Path brand name; and curated active small group and private custom journeys that are centered around cinematic walks led by the local guides under the Classic Journeys name. The company has a strategic alliance with the National Geographic Society. Lindblad Expeditions Holdings, Inc. was founded in 1979 and is headquartered in New York, New York.

How the Company Makes Money

Lindblad Expeditions makes money primarily through the sale of expedition cruise tickets to individuals seeking adventure travel experiences. The company's revenue streams include passenger fares, which are the primary source of income, as well as onboard services such as dining and excursions. Partnerships, notably with National Geographic, enhance the company's offerings and brand appeal, allowing Lindblad to leverage the expertise and reputation of National Geographic to attract affluent and environmentally-conscious travelers. Additionally, the company may generate revenue from merchandise sales related to its expeditions, although this is typically a smaller portion of their income.

Lindblad Expeditions Holdings Financial Statement Overview

Summary

Lindblad Expeditions Holdings has shown revenue growth and operational improvements, yet it faces significant profitability and balance sheet challenges. The consistent cash flow improvements are promising, but the negative equity and persistent net losses present financial stability concerns. Attention to reducing debt and improving profitability could enhance financial health.

Income Statement

The company shows positive revenue growth, with a TTM revenue increase of 4% from the previous year. Gross profit margins are stable, but negative net income indicates ongoing profitability challenges. The improvement in EBIT and EBITDA margins suggests better operational efficiency, although the net profit margin remains negative.

Balance Sheet

The company's balance sheet shows a concerning negative stockholders' equity, indicating financial instability. The debt-to-equity ratio cannot be calculated due to negative equity, presenting a significant risk. Total debt levels are high relative to total assets, and the equity ratio is negative.

Cash Flow

The company has shown improvement in operating cash flow, with a positive free cash flow in the TTM. The operating cash flow to net income ratio is strong due to significant operating cash flow relative to net losses, indicating good cash generation capabilities. The free cash flow growth rate is positive, showing recovery.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
670.83M	644.73M	569.54M	421.50M	147.11M	82.36M
	Gross Profit
299.98M	301.05M	247.17M	138.28M	22.62M	9.43M
	EBIT
24.32M	21.55M	10.60M	-63.05M	-110.83M	-88.40M
	EBITDA
81.58M	74.10M	54.12M	-19.94M	-57.06M	-61.12M
	Net Income Common Stockholders
-26.04M	-31.18M	-45.61M	-108.16M	-119.17M	-100.14M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
187.53M	183.94M	156.84M	100.77M	150.75M	187.53M
	Total Assets
757.45M	876.90M	831.30M	787.98M	827.49M	757.45M
	Total Debt
488.00M	627.30M	623.75M	557.41M	549.45M	488.00M
	Net Debt
300.47M	443.36M	466.90M	470.24M	398.70M	300.47M
	Total Liabilities
631.17M	1.02B	945.06M	873.62M	811.55M	631.17M
	Stockholders Equity
118.78M	-174.96M	-151.55M	-113.53M	5.32M	118.78M
Cash Flow		Free Cash Flow
56.37M	58.84M	-4.52M	-40.41M	-64.19M	-247.74M
	Operating Cash Flow
96.84M	92.36M	25.44M	-2.20M	32.49M	-92.26M
	Investing Cash Flow
-83.33M	-44.08M	-14.80M	-49.59M	-114.72M	-155.48M
	Financing Cash Flow
-2.75M	-19.77M	60.68M	-4.87M	50.41M	342.99M

Lindblad Expeditions Holdings Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 10.60
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LIND, the sentiment is Neutral. The current price of 10.6 is below the 20-day moving average (MA) of 10.72, above the 50-day MA of 9.67, and below the 200-day MA of 10.79, indicating a neutral trend. The MACD of 0.33 indicates Positive momentum. The RSI at 50.86 is Neutral, neither overbought nor oversold. The STOCH value of 50.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for LIND.

Lindblad Expeditions Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RCL	75 Outperform	$70.08B	21.68	49.55%	1.16%	13.66%	49.86%
EXPE	74 Outperform	$21.06B	19.51	119.16%	0.97%	5.57%	61.19%
TRIP	73 Outperform	$1.74B	36.48	5.91%	―	1.43%	121.44%
TNL	66 Neutral	$3.34B	8.65	-46.70%	4.69%	2.98%	3.46%
LIND	64 Neutral	$579.90M	―	21.42%	―	15.71%	44.28%
NCLH	63 Neutral	$7.94B	10.84	95.87%	―	5.57%	141.01%
Sector *	62 Neutral	$6.82B	11.05	2.80%	4.32%	2.67%	-24.92%

Lindblad Expeditions Holdings Corporate Events

Lindblad Expeditions Holds 2025 Annual Stockholders Meeting

Lindblad Expeditions Holdings held its 2025 Annual Meeting of Stockholders on June 4, 2025, where stockholders voted on several key proposals. The meeting resulted in the election of directors, approval of executive compensation, an amendment to the 2021 Long-Term Incentive Plan, and the ratification of Ernst & Young LLP as the independent accounting firm for fiscal year 2025.

The most recent analyst rating on (LIND) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Lindblad Expeditions Holdings stock, see the LIND Stock Forecast page.