LINDSAY CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data LINDSAY CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2024	FY2026
Revenue	518	548	444	475	568	771	674	607	676	636
Cost of revenue	373	396	329	322	417	572	461	416	466	452
Gross profit	145	151	115	153	150	199	213	191	211	184
Research and development	17.1	16	13.9	14	13.4	15.1	18.2	17.1	17.9	17
General and administrative	46.5	55.5	63.7	52.9	51.9	55.5	56.4	57.4	63	57.6
Operating expenses	104	112	108	98.3	96.1	105	111	114	123	117
Operating income	40.6	39	6.12	54.2	54.1	94.6	102	76.6	88.1	66.9
Interest expense	4.76	4.69	4.77	4.76	4.75	4.27	3.79	3.23	1.83
Interest income	1.18	1.64	2.4	1.96	1.08	0.62	2.78	1.96	5.89	9.89
Other non-operating income	-1.36	-5.16	-4.01	-5.36	-3.72	-6.78	-1.81	2.44	6.46	8.39
Pre-tax income	35.7	33.9	2.11	48.8	50.4	87.9	100	79.1	94.6	75.3
Income tax	12.5	13.6	-0.07	10.2	7.81	22.4	28	12.8	20.5	19.7
Net income	23.2	20.3	2.17	38.6	42.6	65.5	72.4	66.3	74.1	55.7
EBITDA	57.3	55.5	20.1	73.6	73.3	115	121	97.8	109	90
EPS, basic	2.17	1.89	0.20	3.57	3.91	5.97	6.58	6.04	6.82	5.35
EPS, diluted	2.17	1.88	0.20	3.56	3.88	5.94	6.54	6.01	6.78	5.33
Shares, basic (weighted)	10.7	10.7	10.8	10.8	10.9	11	11	11	10.9	10.4
Shares, diluted (weighted)	10.7	10.8	10.8	10.9	11	11	11.1	11	10.9	10.4
Dividend per share	1.17	1.21	1.24	1.26	1.30	1.33	1.37	1.41	1.45	1.49

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2024	FY2026
Cash and equivalents	122	161	127	121	127	105	161	191	251	190
Short-term investments			0	19.5	19.6	11.5	5.56	0	0
Receivables	73.9	69.1	75.6	84.6	93.6	138	145	117	113	111
Inventory	86.2	79.2	92.3	105	145	194	156	154	137	135
Other current assets	6.93	11.1	15.7	17.6	30.5	28.6	20.5	31.3	32.3	35.3
Total current assets	293	331	313	348	416	477	487	493	533	472
Property, plant and equipment	74.5	57.2	69	79.6	92	94.5	99.7	113	142	171
Lease right-of-use assets			0	27.5	18.3	19.2	17	15.7	18.1	19.4
Goodwill	77.1	64.7	64.4	68	68	67.1	83.1	84.2	84.5	84.4
Intangible assets	42.8	27.4	24.4	23.5	20.4	18.2	27.7	25.4	23.3	22.3
Other non-current assets	13.4	12.8	17.3	14.1	14.4	25.2	19.7	14.5	11.6	20.6
Total assets	506	500	500	571	637	711	746	760	841	815
Accounts payable	36.7	30.5	29.4	29.6	45.2	60	44.3	37.4	48.7	56.9
Accrued liabilities	18.9	17.9	14	20.9	21.6	23.1	25	21.7	28.8	23.4
Deferred revenue	6.17	7.31	14.8	17.3	36.1	29.5	18.8	20.5	13.5	17.3
Short-term debt	0.2	0.21	0.21	0.2	0.22	0.22	0.23	0.23	0.23	0
Total current liabilities	92	80.1	82.1	102	138	161	136	126	144	150
Long-term debt	117	116	116	116	116	115	115	115	115	115
Lease liabilities			0	25.9	18.3	19.8	17.7	15.5	17.4	18.1
Other non-current liabilities	19.7	19.8	27.2	20.8	20.1	15.3	16	18.1	27.8	22.5
Total liabilities	236	223	232	272	299	317	290	279	308	309
Total debt	117	117	117	116	116	116	116	115	115	115
Paid-in capital	63	68.5	71.7	77.7	86.5	94	98.5	104	113	119
Retained earnings	478	485	475	500	528	579	636	687	745	786
Treasury stock	-277	-277	-277	-277	-277	-277	-277	-300	-311	-392
Other comprehensive income	-12.1	-18.1	-19.8	-20.6	-17.9	-21.5	-21	-30	-33.5	-26
Shareholders' equity	270	277	268	299	338	393	456	481	533	506
Total equity	270	277	268	299	338	393	456	481	533	506
Total liabilities and equity	506	500	500	571	637	711	746	760	841	815

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2024	FY2026
Net income	23.2	20.3	2.17	38.6	42.6	65.5	72.4	66.3	74.1	55.7
Depreciation and amortization	16.7	16.5	14	19.4	19.2	20.2	19.3	21.2	20.9	23.1
Stock-based compensation	3.6	3.89	4.2	5.62	6.19	5.46	6.53	6.39	8.06	5.61
Deferred income tax	-0.9	-0.05	-5.69	1.38	1.91	-2.06	0	-3.9	-1.43	10.9
Change in receivables	7.96	-3.71	-7.97	-9.52	-11.5	-47.5	-4.93	23.5	3.45	1.74
Change in inventory	-10.1	-8.17	-16.2	-14	-38.2	-53.8	41	-0.77	19.1	4.23
Change in payables	4.08	0.16	2.12	-0.69	18	13.8	-15.3	-5.96	11.1	-0.32
Cash from operations	39.4	33.9	3.8	46	44	3.05	120	95.8	133	74.9
Capital expenditures	-8.86	-11.1	-23.2	-21.4	-26.5	-15.6	-18.8	-29	-42.5	-40.2
Acquisitions		0	0	-3.03	0	0	-30.8	0	0
Purchases of investments		0	0	-28	-19.4	-18.5	-4.93	-18.8	-14.7	0
Sales and maturities of investments		0	0	8.55	18.8	26	11	24.6	15	0
Cash from investing	-9.98	18.1	-21.2	-38.5	-27.6	-8.95	-47.4	-25.9	-48.6	-42.8
Debt repaid	-0.2	-0.2	-0.21	-0.23	-0.2	-0.22	-0.22
Stock issued	3.02	2.79	0.18	1.55	3.97	2.89	0.03	0.48	1.51	0.81
Share buybacks						0	0	-22.5	-11.5	-80.7
Dividends paid	-12.5	-13	-13.4	-13.6	-14.2	-14.6	-15.1	-15.5	-15.7	-15.4
Cash from financing	-10.3	-11.3	-14.6	-13.4	-11.7	-12.7	-17.3	-38.6	-26.9	-96.2
Exchange rate effect	1.21	-1.62
Net change in cash	20.4	39.2	-33.6	-5.8	5.7	-22.1	55.7	30.1	59.7	-60.7
Free cash flow	30.6	22.9	-19.4	24.6	17.5	-12.5	101	66.8	90.4	34.7
Interest paid	4.7	4.63	4.67	4.67	4.64	3.81	3.91	3.32	1.83
Income taxes paid	16.2	11.2	7.89	7.31	6.81	15.7	20.3	22.3	20.8	17.6

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $109.24 on November 10, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	28.9%	Gross profit / revenue.
Operating margin	10.5%	Operating income / revenue.
EBITDA margin	14.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	11.8%	Pre-tax income / revenue.
Net margin	8.8%	Net income / revenue.
FCF margin	5.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	11.8%	Cash from operations / revenue.
Effective tax rate	26.1%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	10.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	6.7%	Net income / average total assets.
Return on invested capital (ROIC)	11.9%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	2.7%	Research and development expense / revenue.
Stock-based pay / revenue	0.9%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	6.3%	Capital expenditures / revenue.
D&A / revenue	3.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-6.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-1.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	2.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-12.8%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-4.8%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	4.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-24.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-13.2%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	4.3%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-17.5%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-9.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	4.2%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-24.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-8.4%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	5.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-21.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-6.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	6.6%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-43.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-14.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	11.2%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-61.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-29.9%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	14.8%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	2.8%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	2.8%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	2.8%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-5.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	3.5%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	8.4%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-3.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	5.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-4.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.9%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.15x	Current assets / current liabilities.
Quick ratio	2.01x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.27x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.23x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	14.1%	Total debt / total assets.
Liabilities / assets	38.0%	Total liabilities / total assets.
Net debt	-$74.8M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.83x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$321.8M	Current assets - current liabilities.
Goodwill and intangibles / assets	13.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	$398.9M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.77x	Revenue / average total assets.
Fixed asset turnover	4.06x	Revenue / average property, plant and equipment.
Inventory turnover	3.32x	Cost of revenue / average inventory.
Days inventory	110 days	365 x average inventory / cost of revenue.
Receivables turnover	5.67x	Revenue / average receivables.
Days sales outstanding	64 days	365 x average receivables / revenue.
Days payables	43 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	132 days	Days inventory + days sales outstanding - days payables.
FCF conversion	62.4%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	53.6%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$5.33	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$5.35	Net income per basic share, as reported (split-adjusted).
Revenue per share	$60.93	Revenue / diluted weighted shares.
FCF per share	$3.33	Free cash flow / diluted weighted shares.
Operating cash flow per share	$7.18	Cash from operations / diluted weighted shares.
Book value per share	$48.45	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$38.22	Tangible book value / shares outstanding.
Cash per share	$18.19	(Cash + short-term investments) / shares outstanding.
Dividend per share	$1.49	Dividend declared per common share (paid, when declared is not tagged).
Payout ratio	27.7%	Dividends paid / net income, when net income is positive.
Dividends / FCF	44.3%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	232.4%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.11B	Share price x shares outstanding.
Enterprise value	$1.04B	Market cap + total debt - cash - short-term investments.
P/E	20.0x	Market cap / net income. Only when net income is positive.
P/S	1.75x	Market cap / revenue.
P/B	2.20x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.78x	Market cap / tangible book value, when positive.
P/FCF	32.0x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	14.8x	Market cap / cash from operations, when positive.
EV/Sales	1.63x	Enterprise value / revenue.
EV/EBIT	15.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	11.5x	Enterprise value / EBITDA, when both are positive.
EV/FCF	29.8x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.1%	Free cash flow / market cap.
Earnings yield	5.0%	Net income / market cap (the inverse of P/E).
Dividend yield	1.4%	Dividends paid over the period / market cap.
Shareholder yield	8.7%	(Dividends paid + share buybacks) / market cap.

What was LINDSAY CORP's revenue in fiscal 2026?

LINDSAY CORP reported revenue of $635.9M for fiscal 2026, 6% lower than the year before.

Was LINDSAY CORP profitable in fiscal 2026?

Yes. Net income was $55.7M, a net margin of 8.8%.

How much free cash flow did LINDSAY CORP generate in fiscal 2026?

Cash from operations of $74.9M minus capital expenditures of $40.2M left free cash flow of $34.7M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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