Lindblad Expeditions (LIND) Financials

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As of 11:24 AM Eastern

Annual Income Statements for Lindblad Expeditions

This table shows Lindblad Expeditions' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	-116	-50	-36
Consolidated Net Income / (Loss)	-108	-41	-28
Net Income / (Loss) Continuing Operations	-108	-41	-28
Total Pre-Tax Income	-102	-38	-25
Total Operating Income	-63	11	22
Total Gross Profit	138	247	301
Total Revenue	422	570	645
Operating Revenue	422	570	645
Total Cost of Revenue	283	322	344
Operating Cost of Revenue	283	322	344
Total Operating Expenses	201	237	280
Selling, General & Admin Expense	96	118	140
Marketing Expense	61	71	87
Depreciation Expense	44	47	53
Total Other Income / (Expense), net	-39	-48	-47
Interest Expense	37	45	46
Other Income / (Expense), net	-1.54	-3.32	-0.91
Income Tax Expense	6.08	3.15	3.10
Preferred Stock Dividends Declared	4.67	4.37	4.64
Net Income / (Loss) Attributable to Noncontrolling Interest	3.22	4.73	2.98
Basic Earnings per Share	($2.23)	($0.94)	($0.67)
Weighted Average Basic Shares Outstanding	52.02M	53.26M	53.82M
Diluted Earnings per Share	($2.23)	($0.94)	($0.67)
Weighted Average Diluted Shares Outstanding	52.02M	53.26M	53.82M
Weighted Average Basic & Diluted Shares Outstanding	53.19M	53.43M	54.59M

This table shows Lindblad Expeditions' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	-9.76	-33	-0.45	-26	4.54	-29	-5.12	-26	21	-26
Consolidated Net Income / (Loss)	-5.50	-32	0.78	-24	8.46	-26	-4.21	-24	25	-25
Net Income / (Loss) Continuing Operations	-5.50	-32	0.78	-24	8.46	-26	-4.21	-24	25	-25
Total Pre-Tax Income	-3.77	-26	2.32	-24	8.46	-25	-3.97	-20	18	-20
Total Operating Income	5.81	-15	12	-8.50	20	-14	7.85	-8.21	29	-7.57
Total Gross Profit	57	43	71	47	80	48	74	58	102	67
Total Revenue	145	118	143	125	176	125	154	136	206	149
Operating Revenue	145	118	143	125	176	125	154	136	206	149
Total Cost of Revenue	88	75	72	78	96	77	79	79	104	81
Operating Cost of Revenue	88	75	72	78	96	77	79	79	104	81
Total Operating Expenses	51	58	59	56	60	62	66	66	72	75
Selling, General & Admin Expense	25	27	26	29	30	33	32	34	34	39
Marketing Expense	16	20	21	15	19	16	23	18	25	21
Depreciation Expense	11	11	12	11	11	13	11	14	13	15
Total Other Income / (Expense), net	-9.57	-11	-10	-15	-12	-11	-12	-11	-11	-12
Interest Expense	8.37	11	10	12	11	11	12	11	11	12
Other Income / (Expense), net	-1.21	-0.21	0.32	-3.52	-0.53	0.41	-0.23	-0.01	0.20	-0.87
Income Tax Expense	1.73	5.46	1.54	0.04	0.00	1.56	0.24	4.45	-6.75	5.15
Preferred Stock Dividends Declared	1.04	1.05	1.07	1.08	1.10	1.12	1.14	1.15	1.17	1.19
Net Income / (Loss) Attributable to Noncontrolling Interest	3.23	0.22	0.16	0.77	2.82	0.99	-0.23	0.67	2.68	-0.14
Basic Earnings per Share	($0.18)	($0.61)	($0.01)	($0.48)	$0.08	($0.53)	($0.10)	($0.48)	$0.39	($0.48)
Weighted Average Basic Shares Outstanding	53.05M	52.02M	53.13M	53.25M	53.31M	53.26M	53.37M	53.50M	54.10M	53.82M
Diluted Earnings per Share	($0.18)	($0.61)	($0.01)	($0.48)	$0.08	($0.53)	($0.10)	($0.48)	$0.36	($0.45)
Weighted Average Diluted Shares Outstanding	53.05M	52.02M	53.13M	53.25M	53.40M	53.26M	53.37M	53.50M	62.59M	53.82M
Weighted Average Basic & Diluted Shares Outstanding	53.14M	53.19M	53.25M	53.33M	53.39M	53.43M	53.53M	54.32M	54.50M	54.59M

This table details how cash moves in and out of Lindblad Expeditions' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Change in Cash & Equivalents	-57	71	29
Net Cash From Operating Activities	-2.20	25	92
Net Cash From Continuing Operating Activities	-2.20	25	92
Net Income / (Loss) Continuing Operations	-108	-41	-28
Consolidated Net Income / (Loss)	-108	-41	-28
Depreciation Expense	44	47	53
Amortization Expense	3.28	4.18	4.59
Non-Cash Adjustments To Reconcile Net Income	49	23	63
Changes in Operating Assets and Liabilities, net	9.56	-7.82	0.53
Net Cash From Investing Activities	-50	-15	-44
Net Cash From Continuing Investing Activities	-50	-15	-44
Purchase of Property, Plant & Equipment	-38	-30	-34
Acquisitions	0.00	0.00	-11
Sale and/or Maturity of Investments	-15	15	0.00
Other Investing Activities, net	3.61	0.00	0.00
Net Cash From Financing Activities	-4.87	61	-20
Net Cash From Continuing Financing Activities	-4.87	61	-20
Repayment of Debt	-364	-213	-0.07
Issuance of Debt	360	275	0.00
Other Financing Activities, net	-1.06	-1.13	-20
Other Net Changes in Cash	0.00	0.00	0.29
Cash Interest Paid	26	44	49
Cash Income Taxes Paid	0.31	0.71	0.32

This table details how cash moves in and out of Lindblad Expeditions' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-30	-30	4.70	77	7.38	-17	37	-6.51	6.92	-8.43
Net Cash From Operating Activities	-18	-2.97	2.06	17	16	-9.87	44	19	28	1.68
Net Cash From Continuing Operating Activities	-18	-2.97	2.06	17	16	-9.87	44	19	28	1.68
Net Income / (Loss) Continuing Operations	-5.50	-32	0.78	-24	8.46	-26	-4.21	-24	25	-25
Consolidated Net Income / (Loss)	-5.50	-32	0.78	-24	8.46	-26	-4.21	-24	25	-25
Depreciation Expense	11	11	12	11	11	13	11	14	13	15
Amortization Expense	1.32	0.66	1.03	1.19	1.30	0.66	1.34	1.34	0.79	1.11
Non-Cash Adjustments To Reconcile Net Income	-22	-0.38	6.92	30	-19	5.82	41	31	-17	7.75
Changes in Operating Assets and Liabilities, net	-2.40	18	-18	-1.20	15	-2.99	-5.04	-3.48	5.92	3.13
Net Cash From Investing Activities	-6.02	-20	8.74	-8.29	-8.01	-7.24	-6.47	-7.43	-20	-9.69
Net Cash From Continuing Investing Activities	-6.02	-20	8.74	-8.29	-8.01	-7.24	-6.47	-7.43	-20	-9.69
Purchase of Property, Plant & Equipment	-6.02	-8.64	-6.43	-8.29	-8.01	-7.24	-6.47	-7.43	-9.75	-9.87
Acquisitions	-	-	-	-	-	-	-	-	-	0.18
Net Cash From Financing Activities	-5.88	-6.95	-6.10	68	-0.43	-0.36	-0.62	-18	-0.70	-0.71
Net Cash From Continuing Financing Activities	-5.88	-6.95	-6.10	68	-0.43	-0.36	-0.62	-18	-0.70	-0.71
Repayment of Debt	-5.87	-6.66	-5.83	-207	-0.42	-0.03	-0.03	-0.01	-0.06	0.03
Other Financing Activities, net	-0.01	-0.29	-0.27	-0.53	-0.01	-0.33	-0.59	-18	-0.64	-0.74
Cash Interest Paid	16	3.66	17	1.64	12	13	12	12	12	12
Cash Income Taxes Paid	0.10	0.08	0.09	0.12	0.18	0.32	0.09	0.11	-0.20	0.32

This table presents Lindblad Expeditions' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Total Assets	788	831	877
Total Current Assets	183	245	278
Cash & Equivalents	87	157	184
Restricted Cash	29	30	32
Prepaid Expenses	54	57	62
Plant, Property, & Equipment, net	539	526	518
Total Noncurrent Assets	65	61	80
Goodwill	42	42	59
Intangible Assets	11	9.41	16
Other Noncurrent Operating Assets	12	9.36	5.13
Total Liabilities & Shareholders' Equity	788	831	877
Total Liabilities	874	945	1,022
Total Current Liabilities	341	319	392
Short-Term Debt	23	0.05	0.03
Accounts Payable	71	16	14
Accrued Expenses	-	49	58
Current Deferred Revenue	245	252	319
Other Current Liabilities	1.66	1.92	1.85
Total Noncurrent Liabilities	533	626	630
Long-Term Debt	529	622	625
Noncurrent Deferred & Payable Income Tax Liabilities	0.00	2.12	3.54
Other Noncurrent Operating Liabilities	3.05	1.94	1.02
Commitments & Contingencies	0.00	0.00	0.00
Redeemable Noncontrolling Interest	97	111	108
Total Equity & Noncontrolling Interests	-183	-225	-253
Total Preferred & Common Equity	-183	-225	-253
Preferred Stock	0.00	0.00	0.00
Total Common Equity	-183	-225	-253
Common Stock	84	97	109
Retained Earnings	-267	-322	-363
Accumulated Other Comprehensive Income / (Loss)	-	0.00	0.29

This table presents Lindblad Expeditions' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	812	774	854	852	868	858	890
Total Current Assets	203	176	259	259	287	284	288
Cash & Equivalents	116	84	143	168	178	168	194
Restricted Cash	30	37	54	37	46	50	31
Prepaid Expenses	45	44	52	45	62	66	63
Plant, Property, & Equipment, net	540	534	532	530	522	516	517
Total Noncurrent Assets	68	64	63	62	60	59	85
Goodwill	42	42	42	42	42	42	68
Intangible Assets	12	11	10	9.86	8.96	8.51	8.06
Other Noncurrent Operating Assets	7.64	8.95	8.34	7.93	8.87	8.38	9.17
Total Liabilities & Shareholders' Equity	812	774	854	852	868	858	890
Total Liabilities	867	857	957	943	984	1,014	1,012
Total Current Liabilities	329	328	333	319	358	383	386
Short-Term Debt	24	23	0.05	0.05	0.05	0.05	0.00
Accounts Payable	57	53	58	67	65	61	70
Current Deferred Revenue	247	250	273	251	291	320	314
Other Current Liabilities	1.52	1.68	1.70	1.72	1.76	1.59	1.55
Total Noncurrent Liabilities	537	528	624	624	627	631	626
Long-Term Debt	535	524	620	621	623	624	625
Noncurrent Deferred & Payable Income Tax Liabilities	-	1.49	1.45	1.45	2.59	6.31	0.00
Other Noncurrent Operating Liabilities	2.57	2.67	2.29	1.90	1.67	1.39	1.58
Commitments & Contingencies	0.00	70	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	100	26	102	107	111	100	105
Total Equity & Noncontrolling Interests	-155	-178	-205	-198	-227	-255	-227
Total Preferred & Common Equity	-155	-178	-205	-198	-227	-255	-227
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-155	-178	-205	-198	-227	-255	-227
Common Stock	82	87	90	93	99	99	108
Retained Earnings	-237	-265	-294	-291	-326	-355	-335

This table displays calculated financial ratios and metrics derived from Lindblad Expeditions' official financial filings.

Metric	2022	2023	2024
Growth Metrics	-	-	-
Revenue Growth	186.53%	35.12%	13.20%
EBITDA Growth	67.94%	436.85%	33.74%
EBIT Growth	33.14%	111.28%	183.46%
NOPAT Growth	43.12%	116.81%	103.35%
Net Income Growth	9.24%	62.21%	31.02%
EPS Growth	7.47%	57.85%	28.72%
Operating Cash Flow Growth	-106.78%	1,254.83%	263.02%
Free Cash Flow Firm Growth	110.31%	284.04%	197.23%
Invested Capital Growth	-13.00%	-4.98%	-17.75%
Revenue Q/Q Growth	14.20%	1.32%	3.74%
EBITDA Q/Q Growth	-0.52%	7.93%	10.30%
EBIT Q/Q Growth	4.43%	39.83%	31.89%
NOPAT Q/Q Growth	18.41%	15.87%	41.05%
Net Income Q/Q Growth	-5.55%	11.95%	4.14%
EPS Q/Q Growth	-3.24%	7.84%	10.67%
Operating Cash Flow Q/Q Growth	-118.76%	-21.34%	14.30%
Free Cash Flow Firm Q/Q Growth	171.86%	-38.87%	25.07%
Invested Capital Q/Q Growth	-5.64%	-1.15%	-4.97%
Profitability Metrics	-	-	-
Gross Margin	32.81%	43.40%	46.69%
EBITDA Margin	-4.10%	10.21%	12.07%
Operating Margin	-14.96%	1.86%	3.34%
EBIT Margin	-15.32%	1.28%	3.20%
Profit (Net Income) Margin	-25.66%	-7.18%	-4.37%
Tax Burden Percent	105.95%	108.34%	112.37%
Interest Burden Percent	158.05%	-517.98%	-121.52%
Effective Tax Rate	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-12.17%	2.25%	5.16%
ROIC Less NNEP Spread (ROIC-NNEP)	-28.27%	-9.01%	-5.10%
Return on Net Nonoperating Assets (RNNOA)	322.52%	38.74%	16.58%
Return on Equity (ROE)	310.35%	41.00%	21.75%
Cash Return on Invested Capital (CROIC)	1.74%	7.36%	24.65%
Operating Return on Assets (OROA)	-8.00%	0.90%	2.42%
Return on Assets (ROA)	-13.39%	-5.05%	-3.30%
Return on Common Equity (ROCE)	1,163.26%	83.83%	40.10%
Return on Equity Simple (ROE_SIMPLE)	59.21%	18.16%	11.14%
Net Operating Profit after Tax (NOPAT)	-44	7.42	15
NOPAT Margin	-10.47%	1.30%	2.34%
Net Nonoperating Expense Percent (NNEP)	16.10%	11.26%	10.26%
Return On Investment Capital (ROIC_SIMPLE)	-11.92%	1.87%	4.05%
Cost of Revenue to Revenue	67.19%	56.60%	53.31%
SG&A Expenses to Revenue	22.84%	20.79%	21.70%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	47.76%	41.54%	43.35%
Earnings before Interest and Taxes (EBIT)	-65	7.28	21
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-17	58	78
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.97	1.06	1.00
Price to Earnings (P/E)	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.75	3.58	4.41
Enterprise Value to Revenue (EV/Rev)	2.21	2.01	1.80
Enterprise Value to EBITDA (EV/EBITDA)	0.00	19.72	14.95
Enterprise Value to EBIT (EV/EBIT)	0.00	157.53	56.34
Enterprise Value to NOPAT (EV/NOPAT)	0.00	154.66	77.11
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	45.10	12.60
Enterprise Value to Free Cash Flow (EV/FCFF)	147.29	47.35	16.15
Leverage & Solvency	-	-	-
Debt to Equity	-6.45	-5.47	-4.30
Long-Term Debt to Equity	-6.18	-5.47	-4.30
Financial Leverage	-11.41	-4.30	-3.25
Leverage Ratio	-23.18	-8.12	-6.59
Compound Leverage Factor	-36.63	42.06	8.01
Debt to Total Capital	118.33%	122.39%	130.32%
Short-Term Debt to Total Capital	5.00%	0.01%	0.01%
Long-Term Debt to Total Capital	113.34%	122.38%	130.32%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	20.77%	21.91%	22.42%
Common Equity to Total Capital	-39.10%	-44.30%	-52.74%
Debt to EBITDA	-32.01	10.69	8.04
Net Debt to EBITDA	-24.50	7.47	5.26
Long-Term Debt to EBITDA	-30.66	10.69	8.04
Debt to NOPAT	-12.53	83.81	41.46
Net Debt to NOPAT	-9.59	58.56	27.13
Long-Term Debt to NOPAT	-12.00	83.81	41.45
Altman Z-Score	-0.17	0.45	0.46
Noncontrolling Interest Sharing Ratio	-274.82%	-104.47%	-84.41%
Liquidity Ratios	-	-	-
Current Ratio	0.54	0.77	0.71
Quick Ratio	0.30	0.49	0.47
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	6.31	24	72
Operating Cash Flow to CapEx	-5.77%	84.91%	275.52%
Free Cash Flow to Firm to Interest Expense	0.17	0.54	1.57
Operating Cash Flow to Interest Expense	-0.06	0.57	2.02
Operating Cash Flow Less CapEx to Interest Expense	-1.08	-0.10	1.29
Efficiency Ratios	-	-	-
Asset Turnover	0.52	0.70	0.75
Accounts Receivable Turnover	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00
Fixed Asset Turnover	0.78	1.07	1.23
Accounts Payable Turnover	4.71	7.40	22.90
Days Sales Outstanding (DSO)	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00
Days Payable Outstanding (DPO)	77.50	49.35	15.94
Cash Conversion Cycle (CCC)	-77.50	-49.35	-15.94
Capital & Investment Metrics	-	-	-
Invested Capital	338	321	264
Invested Capital Turnover	1.16	1.73	2.21
Increase / (Decrease) in Invested Capital	-50	-17	-57
Enterprise Value (EV)	929	1,147	1,163
Market Capitalization	409	602	646
Book Value per Share	($3.44)	($4.22)	($4.64)
Tangible Book Value per Share	($4.44)	($5.18)	($6.02)
Total Capital	467	508	480
Total Debt	553	622	625
Total Long-Term Debt	529	622	625
Net Debt	423	434	409
Capital Expenditures (CapEx)	38	30	34
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-264	-262	-330
Debt-free Net Working Capital (DFNWC)	-134	-75	-114
Net Working Capital (NWC)	-158	-75	-114
Net Nonoperating Expense (NNE)	64	48	43
Net Nonoperating Obligations (NNO)	423	434	409
Total Depreciation and Amortization (D&A)	47	51	57
Debt-free, Cash-free Net Working Capital to Revenue	-62.65%	-46.01%	-51.21%
Debt-free Net Working Capital to Revenue	-31.90%	-13.11%	-17.68%
Net Working Capital to Revenue	-37.44%	-13.12%	-17.69%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($2.23)	$0.00	($0.67)
Adjusted Weighted Average Basic Shares Outstanding	52.02M	0.00	53.82M
Adjusted Diluted Earnings per Share	($2.23)	$0.00	($0.67)
Adjusted Weighted Average Diluted Shares Outstanding	52.02M	0.00	53.82M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	53.19M	0.00	54.59M
Normalized Net Operating Profit after Tax (NOPAT)	-44	7.42	15
Normalized NOPAT Margin	-10.47%	1.30%	2.34%
Pre Tax Income Margin	-24.22%	-6.62%	-3.89%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	-1.72	0.16	0.45
NOPAT to Interest Expense	-1.18	0.16	0.33
EBIT Less CapEx to Interest Expense	-2.74	-0.50	-0.28
NOPAT Less CapEx to Interest Expense	-2.20	-0.50	-0.40
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Lindblad Expeditions' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	124.45%	79.94%	111.35%	37.28%	21.55%	6.27%	7.13%	9.38%	17.06%	18.54%
EBITDA Growth	467.21%	-2.31%	218.09%	105.97%	89.48%	107.09%	-20.87%	1,257.23%	36.05%	2,567.84%
EBIT Growth	131.25%	16.19%	138.08%	40.22%	333.28%	13.38%	-40.42%	31.61%	48.84%	37.17%
NOPAT Growth	132.90%	48.20%	117.43%	55.99%	403.46%	9.49%	31.50%	3.44%	96.70%	45.32%
Net Income Growth	76.40%	-21.64%	101.85%	16.99%	253.86%	17.36%	-641.13%	-1.22%	197.88%	4.62%
EPS Growth	64.00%	-12.96%	98.82%	18.64%	144.44%	13.11%	-900.00%	0.00%	350.00%	15.09%
Operating Cash Flow Growth	-5,519.81%	-127.08%	-60.13%	29.44%	188.46%	-232.17%	2,033.92%	6.90%	77.80%	117.02%
Free Cash Flow Firm Growth	542.72%	1,032.43%	43.48%	26.86%	8.76%	-82.07%	239.40%	471.71%	62.29%	624.99%
Invested Capital Growth	-11.24%	-13.00%	-4.40%	-5.07%	-9.29%	-4.98%	-18.16%	-21.69%	-14.45%	-17.75%
Revenue Q/Q Growth	59.26%	-18.53%	21.56%	-12.97%	41.02%	-28.77%	22.54%	-11.14%	50.92%	-27.86%
EBITDA Q/Q Growth	301.04%	-123.81%	742.03%	-98.06%	6,278.11%	-99.11%	7,066.08%	-66.67%	539.33%	-82.53%
EBIT Q/Q Growth	122.89%	-436.82%	182.48%	-193.99%	265.94%	-167.33%	156.74%	-207.89%	461.13%	-128.42%
NOPAT Q/Q Growth	130.07%	-363.34%	139.03%	-242.39%	444.01%	-147.34%	156.71%	-204.56%	800.73%	-113.16%
Net Income Q/Q Growth	80.75%	-481.23%	102.43%	-3,146.92%	135.68%	-412.19%	84.06%	-469.93%	205.02%	-199.96%
EPS Q/Q Growth	69.49%	-238.89%	98.36%	-4,700.00%	116.67%	-762.50%	81.13%	-380.00%	175.00%	-225.00%
Operating Cash Flow Q/Q Growth	-232.59%	83.37%	169.25%	747.72%	-9.38%	-162.45%	544.85%	-57.53%	50.72%	-94.02%
Free Cash Flow Firm Q/Q Growth	462.71%	-19.53%	-49.52%	-44.50%	382.43%	-86.74%	855.78%	-6.52%	36.94%	-40.75%
Invested Capital Q/Q Growth	6.14%	-5.64%	2.12%	-7.19%	1.42%	-1.15%	-12.04%	-11.20%	10.79%	-4.97%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	39.51%	36.25%	49.75%	37.78%	45.68%	38.51%	48.38%	42.39%	49.28%	45.33%
EBITDA Margin	11.58%	-3.38%	17.87%	0.40%	18.05%	0.23%	13.20%	4.95%	20.98%	5.08%
Operating Margin	4.01%	-12.97%	8.69%	-6.81%	11.63%	-11.04%	5.11%	-6.01%	14.31%	-5.09%
EBIT Margin	3.18%	-13.14%	8.92%	-9.63%	11.33%	-10.71%	4.96%	-6.02%	14.41%	-5.68%
Profit (Net Income) Margin	-3.80%	-27.09%	0.54%	-18.99%	4.81%	-21.07%	-2.74%	-17.58%	12.23%	-16.95%
Tax Burden Percent	145.99%	120.59%	33.52%	100.17%	99.96%	106.27%	106.15%	122.79%	136.57%	125.73%
Interest Burden Percent	-81.82%	170.92%	18.15%	196.89%	42.43%	185.04%	-52.05%	237.73%	62.16%	237.47%
Effective Tax Rate	0.00%	0.00%	66.48%	0.00%	0.04%	0.00%	0.00%	0.00%	-36.57%	0.00%
Return on Invested Capital (ROIC)	2.73%	-10.55%	4.11%	-7.71%	19.17%	-13.38%	6.62%	-8.73%	40.35%	-7.87%
ROIC Less NNEP Spread (ROIC-NNEP)	0.26%	-15.89%	3.34%	-12.08%	16.27%	-17.27%	4.45%	-13.13%	36.66%	-12.58%
Return on Net Nonoperating Assets (RNNOA)	-14.01%	181.29%	-16.69%	63.53%	-91.90%	74.30%	-14.82%	42.11%	-139.77%	40.94%
Return on Equity (ROE)	-11.29%	170.74%	-12.58%	55.82%	-72.73%	60.92%	-8.21%	33.38%	-99.42%	33.07%
Cash Return on Invested Capital (CROIC)	-2.31%	1.74%	1.26%	4.02%	11.62%	7.36%	21.31%	25.87%	19.13%	24.65%
Operating Return on Assets (OROA)	1.43%	-6.86%	5.49%	-6.00%	7.66%	-7.54%	3.50%	-4.16%	10.29%	-4.29%
Return on Assets (ROA)	-1.71%	-14.14%	0.33%	-11.84%	3.25%	-14.82%	-1.94%	-12.14%	8.73%	-12.79%
Return on Common Equity (ROCE)	-168.47%	639.99%	-21.53%	124.00%	-174.95%	124.57%	-12.38%	59.44%	-197.50%	60.99%
Return on Equity Simple (ROE_SIMPLE)	66.21%	0.00%	36.62%	29.47%	23.41%	0.00%	20.17%	18.06%	12.96%	0.00%
Net Operating Profit after Tax (NOPAT)	4.07	-11	4.18	-5.95	20	-9.69	5.50	-5.75	40	-5.30
NOPAT Margin	2.81%	-9.08%	2.91%	-4.77%	11.63%	-7.73%	3.58%	-4.21%	19.54%	-3.57%
Net Nonoperating Expense Percent (NNEP)	2.47%	5.34%	0.77%	4.38%	2.90%	3.90%	2.17%	4.40%	3.69%	4.71%
Return On Investment Capital (ROIC_SIMPLE)	-	-2.89%	-	-	-	-2.44%	-	-	-	-1.42%
Cost of Revenue to Revenue	60.49%	63.75%	50.25%	62.22%	54.32%	61.49%	51.62%	57.61%	50.72%	54.67%
SG&A Expenses to Revenue	16.95%	23.24%	18.42%	23.36%	17.06%	26.20%	21.08%	25.02%	16.65%	26.30%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	35.50%	49.22%	41.06%	44.59%	34.05%	49.55%	43.27%	48.40%	34.97%	50.43%
Earnings before Interest and Taxes (EBIT)	4.60	-16	13	-12	20	-13	7.62	-8.22	30	-8.44
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	17	-3.99	26	0.50	32	0.28	20	6.76	43	7.55
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.97	0.97	1.02	1.09	0.68	1.06	0.86	0.87	0.81	1.00
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.44	2.75	2.79	3.45	2.79	3.58	3.57	4.08	3.63	4.41
Enterprise Value to Revenue (EV/Rev)	2.36	2.21	1.93	2.08	1.61	2.01	1.74	1.73	1.62	1.80
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	31.97	28.39	16.82	19.72	19.08	17.31	14.28	14.95
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	174.07	157.53	476.59	172.91	64.32	56.34
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	141.61	154.66	240.68	232.81	94.14	77.11
Enterprise Value to Operating Cash Flow (EV/OCF)	74.18	0.00	0.00	0.00	28.04	45.10	14.98	14.93	12.46	12.60
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	147.29	216.19	83.54	22.88	47.35	15.10	13.86	17.48	16.15
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-10.14	-6.45	-3.59	-6.02	-6.77	-5.47	-5.35	-4.01	-5.10	-4.30
Long-Term Debt to Equity	-9.70	-6.18	-3.44	-6.02	-6.77	-5.47	-5.35	-4.01	-5.10	-4.30
Financial Leverage	-54.61	-11.41	-5.00	-5.26	-5.65	-4.30	-3.33	-3.21	-3.81	-3.25
Leverage Ratio	-115.73	-23.18	-9.17	-11.04	-11.33	-8.12	-6.11	-6.62	-8.14	-6.59
Compound Leverage Factor	94.69	-39.61	-1.66	-21.73	-4.81	-15.03	3.18	-15.74	-5.06	-15.64
Debt to Total Capital	110.94%	118.33%	138.57%	119.92%	117.32%	122.39%	123.00%	133.20%	124.37%	130.32%
Short-Term Debt to Total Capital	4.78%	5.00%	5.90%	0.01%	0.01%	0.01%	0.01%	0.01%	0.00%	0.01%
Long-Term Debt to Total Capital	106.16%	113.34%	132.68%	119.92%	117.31%	122.38%	122.99%	133.19%	124.37%	130.32%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	19.79%	20.77%	6.50%	19.68%	20.15%	21.91%	21.91%	21.37%	20.81%	22.42%
Common Equity to Total Capital	-30.73%	-39.10%	-45.08%	-39.60%	-37.47%	-44.30%	-44.92%	-54.57%	-45.18%	-52.74%
Debt to EBITDA	-32.52	-32.01	18.22	15.95	11.52	10.69	11.79	10.55	8.85	8.04
Net Debt to EBITDA	-24.03	-24.50	14.20	10.87	7.72	7.47	7.54	6.87	5.67	5.26
Long-Term Debt to EBITDA	-31.12	-30.66	17.44	15.95	11.52	10.69	11.79	10.55	8.85	8.04
Debt to NOPAT	-10.33	-12.53	-47.89	-160.54	96.98	83.81	148.69	141.98	58.39	41.46
Net Debt to NOPAT	-7.63	-9.59	-37.34	-109.45	64.99	58.56	95.16	92.42	37.39	27.13
Long-Term Debt to NOPAT	-9.88	-12.00	-45.86	-160.52	96.97	83.81	148.68	141.97	58.39	41.45
Altman Z-Score	0.13	0.04	0.34	0.35	0.42	0.36	0.38	0.25	0.45	0.35
Noncontrolling Interest Sharing Ratio	-1,392.57%	-274.82%	-71.15%	-122.13%	-140.56%	-104.47%	-50.82%	-78.07%	-98.65%	-84.41%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.62	0.54	0.54	0.78	0.81	0.77	0.80	0.74	0.75	0.71
Quick Ratio	0.35	0.30	0.26	0.43	0.53	0.49	0.50	0.44	0.50	0.47
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	49	40	20	11	54	7.12	68	64	87	52
Operating Cash Flow to CapEx	-297.06%	-34.40%	32.03%	210.37%	197.49%	-136.35%	678.97%	251.18%	288.18%	17.02%
Free Cash Flow to Firm to Interest Expense	5.90	3.61	1.92	0.96	4.68	0.62	5.88	5.62	7.76	4.45
Operating Cash Flow to Interest Expense	-2.14	-0.27	0.20	1.50	1.38	-0.86	3.79	1.65	2.50	0.14
Operating Cash Flow Less CapEx to Interest Expense	-2.85	-1.06	-0.42	0.79	0.68	-1.50	3.23	0.99	1.63	-0.71
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.45	0.52	0.62	0.62	0.68	0.70	0.71	0.69	0.71	0.75
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	26.23	0.00	28.09	29.38	30.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.68	0.78	0.93	0.99	1.05	1.07	1.10	1.13	1.19	1.23
Accounts Payable Turnover	4.93	4.71	5.85	5.24	5.19	7.40	5.57	5.54	4.96	22.90
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	13.91	0.00	13.00	12.42	12.17	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	73.98	77.50	62.44	69.70	70.31	49.35	65.53	65.88	73.66	15.94
Cash Conversion Cycle (CCC)	-60.07	-77.50	-49.45	-57.28	-58.15	-49.35	-65.53	-65.88	-73.66	-15.94
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	358	338	345	320	324	321	282	251	278	264
Invested Capital Turnover	0.97	1.16	1.41	1.62	1.65	1.73	1.85	2.07	2.06	2.21
Increase / (Decrease) in Invested Capital	-45	-50	-16	-17	-33	-17	-63	-69	-47	-57
Enterprise Value (EV)	871	929	961	1,104	907	1,147	1,008	1,023	1,007	1,163
Market Capitalization	359	409	508	579	384	602	498	517	502	646
Book Value per Share	($2.92)	($3.44)	($3.35)	($3.85)	($3.72)	($4.22)	($4.26)	($4.77)	($4.18)	($4.64)
Tangible Book Value per Share	($3.93)	($4.44)	($4.34)	($4.83)	($4.69)	($5.18)	($5.21)	($5.72)	($5.57)	($6.02)
Total Capital	504	467	395	517	529	508	506	468	502	480
Total Debt	559	553	548	620	621	622	623	624	625	625
Total Long-Term Debt	535	529	524	620	621	622	623	624	625	625
Net Debt	413	423	427	423	416	434	399	406	400	409
Capital Expenditures (CapEx)	6.02	8.64	6.43	8.29	8.01	7.24	6.47	7.43	9.75	9.87
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-248	-264	-250	-271	-265	-262	-295	-317	-323	-330
Debt-free Net Working Capital (DFNWC)	-102	-134	-129	-74	-60	-75	-71	-99	-98	-114
Net Working Capital (NWC)	-126	-158	-152	-74	-60	-75	-71	-99	-98	-114
Net Nonoperating Expense (NNE)	9.56	21	3.40	18	12	17	9.71	18	15	20
Net Nonoperating Obligations (NNO)	413	423	497	423	416	434	399	406	400	409
Total Depreciation and Amortization (D&A)	12	12	13	13	12	14	13	15	14	16
Debt-free, Cash-free Net Working Capital to Revenue	-67.27%	-62.65%	-50.20%	-51.10%	-47.08%	-46.01%	-50.90%	-53.52%	-51.95%	-51.21%
Debt-free Net Working Capital to Revenue	-27.73%	-31.90%	-25.91%	-13.91%	-10.64%	-13.11%	-12.24%	-16.72%	-15.81%	-17.68%
Net Working Capital to Revenue	-34.25%	-37.44%	-30.60%	-13.92%	-10.65%	-13.12%	-12.24%	-16.73%	-15.81%	-17.69%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.18)	($0.61)	($0.01)	($0.48)	$0.08	($0.53)	($0.10)	($0.48)	$0.39	($0.48)
Adjusted Weighted Average Basic Shares Outstanding	53.05M	52.02M	53.13M	53.25M	53.31M	53.26M	53.37M	53.50M	54.10M	53.82M
Adjusted Diluted Earnings per Share	($0.18)	($0.61)	($0.01)	($0.48)	$0.08	($0.53)	($0.10)	($0.48)	$0.36	($0.45)
Adjusted Weighted Average Diluted Shares Outstanding	53.05M	52.02M	53.13M	53.25M	53.40M	53.26M	53.37M	53.50M	62.59M	53.82M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	53.14M	53.19M	53.25M	53.33M	53.39M	53.43M	53.53M	54.32M	54.50M	54.59M
Normalized Net Operating Profit after Tax (NOPAT)	4.07	-11	8.73	-5.95	20	-9.69	5.50	-5.75	21	-5.30
Normalized NOPAT Margin	2.81%	-9.08%	6.09%	-4.77%	11.63%	-7.73%	3.58%	-4.21%	10.02%	-3.57%
Pre Tax Income Margin	-2.60%	-22.46%	1.62%	-18.96%	4.81%	-19.82%	-2.58%	-14.32%	8.96%	-13.48%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.55	-1.41	1.22	-1.03	1.74	-1.18	0.66	-0.73	2.64	-0.73
NOPAT to Interest Expense	0.49	-0.97	0.40	-0.51	1.78	-0.85	0.47	-0.51	3.58	-0.46
EBIT Less CapEx to Interest Expense	-0.17	-2.20	0.61	-1.74	1.04	-1.81	0.10	-1.38	1.77	-1.58
NOPAT Less CapEx to Interest Expense	-0.23	-1.76	-0.21	-1.22	1.09	-1.48	-0.08	-1.16	2.72	-1.31
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Lindblad Expeditions' Financials

When does Lindblad Expeditions's financial year end?

According to the most recent income statement we have on file, Lindblad Expeditions' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Lindblad Expeditions' net income changed over the last 2 years?

Lindblad Expeditions' net income appears to be on a downward trend, with a most recent value of -$28.20 million in 2024, falling from -$108.16 million in 2022. The previous period was -$40.88 million in 2023.

What is Lindblad Expeditions's operating income?

Lindblad Expeditions's total operating income in 2024 was $21.55 million, based on the following breakdown:

Total Gross Profit: $301.05 million
Total Operating Expenses: $279.50 million

How has Lindblad Expeditions revenue changed over the last 2 years?

Over the last 2 years, Lindblad Expeditions' total revenue changed from $421.50 million in 2022 to $644.73 million in 2024, a change of 53.0%.

How much debt does Lindblad Expeditions have?

Lindblad Expeditions' total liabilities were at $1.02 billion at the end of 2024, a 8.2% increase from 2023, and a 17.0% increase since 2022.

How much cash does Lindblad Expeditions have?

In the past 2 years, Lindblad Expeditions' cash and equivalents has ranged from $87.18 million in 2022 to $183.94 million in 2024, and is currently $183.94 million as of their latest financial filing in 2024.

How has Lindblad Expeditions' book value per share changed over the last 2 years?

Over the last 2 years, Lindblad Expeditions' book value per share changed from -3.44 in 2022 to -4.64 in 2024, a change of 35.1%.

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This page (NASDAQ:LIND) was last updated on 4/16/2025 by MarketBeat.com Staff

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Lindblad Expeditions (LIND) Financials

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Lindblad Expeditions (LIND) Financials

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