Lindblad Expeditions (LIND) Financials

$10.48 -0.02 (-0.14%)

As of 10:00 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	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Income / (Loss) Attributable to Common Shareholders	-36	-50	-116
Consolidated Net Income / (Loss)	-28	-41	-108
Net Income / (Loss) Continuing Operations	-28	-41	-108
Total Pre-Tax Income	-25	-38	-102
Total Operating Income	22	11	-63
Total Gross Profit	301	247	138
Total Revenue	645	570	422
Operating Revenue	645	570	422
Total Cost of Revenue	344	322	283
Operating Cost of Revenue	344	322	283
Total Operating Expenses	280	237	201
Selling, General & Admin Expense	140	118	96
Marketing Expense	87	71	61
Depreciation Expense	53	47	44
Total Other Income / (Expense), net	-47	-48	-39
Interest Expense	46	45	37
Other Income / (Expense), net	-0.91	-3.32	-1.54
Income Tax Expense	3.10	3.15	6.08
Preferred Stock Dividends Declared	4.64	4.37	4.67
Net Income / (Loss) Attributable to Noncontrolling Interest	2.98	4.73	3.22
Basic Earnings per Share	($0.67)	($0.94)	($2.23)
Weighted Average Basic Shares Outstanding	53.82M	53.26M	52.02M
Diluted Earnings per Share	($0.67)	($0.94)	($2.23)
Weighted Average Diluted Shares Outstanding	53.82M	53.26M	52.02M
Weighted Average Basic & Diluted Shares Outstanding	54.59M	53.43M	53.19M

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

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-26	21	-26	-5.12	-29	4.54	-26	-0.45	-33	-9.76
Consolidated Net Income / (Loss)	-25	25	-24	-4.21	-26	8.46	-24	0.78	-32	-5.50
Net Income / (Loss) Continuing Operations	-25	25	-24	-4.21	-26	8.46	-24	0.78	-32	-5.50
Total Pre-Tax Income	-20	18	-20	-3.97	-25	8.46	-24	2.32	-26	-3.77
Total Operating Income	-7.57	29	-8.21	7.85	-14	20	-8.50	12	-15	5.81
Total Gross Profit	67	102	58	74	48	80	47	71	43	57
Total Revenue	149	206	136	154	125	176	125	143	118	145
Operating Revenue	149	206	136	154	125	176	125	143	118	145
Total Cost of Revenue	81	104	79	79	77	96	78	72	75	88
Operating Cost of Revenue	81	104	79	79	77	96	78	72	75	88
Total Operating Expenses	75	72	66	66	62	60	56	59	58	51
Selling, General & Admin Expense	39	34	34	32	33	30	29	26	27	25
Marketing Expense	21	25	18	23	16	19	15	21	20	16
Depreciation Expense	15	13	14	11	13	11	11	12	11	11
Total Other Income / (Expense), net	-12	-11	-11	-12	-11	-12	-15	-10	-11	-9.57
Interest Expense	12	11	11	12	11	11	12	10	11	8.37
Other Income / (Expense), net	-0.87	0.20	-0.01	-0.23	0.41	-0.53	-3.52	0.32	-0.21	-1.21
Income Tax Expense	5.15	-6.75	4.45	0.24	1.56	0.00	0.04	1.54	5.46	1.73
Preferred Stock Dividends Declared	1.19	1.17	1.15	1.14	1.12	1.10	1.08	1.07	1.05	1.04
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.14	2.68	0.67	-0.23	0.99	2.82	0.77	0.16	0.22	3.23
Basic Earnings per Share	($0.48)	$0.39	($0.48)	($0.10)	($0.53)	$0.08	($0.48)	($0.01)	($0.61)	($0.18)
Weighted Average Basic Shares Outstanding	53.82M	54.10M	53.50M	53.37M	53.26M	53.31M	53.25M	53.13M	52.02M	53.05M
Diluted Earnings per Share	($0.45)	$0.36	($0.48)	($0.10)	($0.53)	$0.08	($0.48)	($0.01)	($0.61)	($0.18)
Weighted Average Diluted Shares Outstanding	53.82M	62.59M	53.50M	53.37M	53.26M	53.40M	53.25M	53.13M	52.02M	53.05M
Weighted Average Basic & Diluted Shares Outstanding	54.59M	54.50M	54.32M	53.53M	53.43M	53.39M	53.33M	53.25M	53.19M	53.14M

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	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Change in Cash & Equivalents	29	71	-57
Net Cash From Operating Activities	92	25	-2.20
Net Cash From Continuing Operating Activities	92	25	-2.20
Net Income / (Loss) Continuing Operations	-28	-41	-108
Consolidated Net Income / (Loss)	-28	-41	-108
Depreciation Expense	53	47	44
Amortization Expense	4.59	4.18	3.28
Non-Cash Adjustments To Reconcile Net Income	63	23	49
Changes in Operating Assets and Liabilities, net	0.53	-7.82	9.56
Net Cash From Investing Activities	-44	-15	-50
Net Cash From Continuing Investing Activities	-44	-15	-50
Purchase of Property, Plant & Equipment	-34	-30	-38
Acquisitions	-11	0.00	0.00
Sale and/or Maturity of Investments	0.00	15	-15
Other Investing Activities, net	0.00	0.00	3.61
Net Cash From Financing Activities	-20	61	-4.87
Net Cash From Continuing Financing Activities	-20	61	-4.87
Repayment of Debt	-0.07	-213	-364
Issuance of Debt	0.00	275	360
Other Financing Activities, net	-20	-1.13	-1.06
Other Net Changes in Cash	0.29	0.00	0.00
Cash Interest Paid	49	44	26
Cash Income Taxes Paid	0.32	0.71	0.31

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	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-8.43	6.92	-6.51	37	-17	7.38	77	4.70	-30	-30
Net Cash From Operating Activities	1.68	28	19	44	-9.87	16	17	2.06	-2.97	-18
Net Cash From Continuing Operating Activities	1.68	28	19	44	-9.87	16	17	2.06	-2.97	-18
Net Income / (Loss) Continuing Operations	-25	25	-24	-4.21	-26	8.46	-24	0.78	-32	-5.50
Consolidated Net Income / (Loss)	-25	25	-24	-4.21	-26	8.46	-24	0.78	-32	-5.50
Depreciation Expense	15	13	14	11	13	11	11	12	11	11
Amortization Expense	1.11	0.79	1.34	1.34	0.66	1.30	1.19	1.03	0.66	1.32
Non-Cash Adjustments To Reconcile Net Income	7.75	-17	31	41	5.82	-19	30	6.92	-0.38	-22
Changes in Operating Assets and Liabilities, net	3.13	5.92	-3.48	-5.04	-2.99	15	-1.20	-18	18	-2.40
Net Cash From Investing Activities	-9.69	-20	-7.43	-6.47	-7.24	-8.01	-8.29	8.74	-20	-6.02
Net Cash From Continuing Investing Activities	-9.69	-20	-7.43	-6.47	-7.24	-8.01	-8.29	8.74	-20	-6.02
Purchase of Property, Plant & Equipment	-9.87	-9.75	-7.43	-6.47	-7.24	-8.01	-8.29	-6.43	-8.64	-6.02
Acquisitions	0.18	-	-	-	-	-	-	-	-	-
Net Cash From Financing Activities	-0.71	-0.70	-18	-0.62	-0.36	-0.43	68	-6.10	-6.95	-5.88
Net Cash From Continuing Financing Activities	-0.71	-0.70	-18	-0.62	-0.36	-0.43	68	-6.10	-6.95	-5.88
Repayment of Debt	0.03	-0.06	-0.01	-0.03	-0.03	-0.42	-207	-5.83	-6.66	-5.87
Other Financing Activities, net	-0.74	-0.64	-18	-0.59	-0.33	-0.01	-0.53	-0.27	-0.29	-0.01
Cash Interest Paid	12	12	12	12	13	12	1.64	17	3.66	16
Cash Income Taxes Paid	0.32	-0.20	0.11	0.09	0.32	0.18	0.12	0.09	0.08	0.10

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	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Total Assets	877	831	788
Total Current Assets	278	245	183
Cash & Equivalents	184	157	87
Restricted Cash	32	30	29
Prepaid Expenses	62	57	54
Plant, Property, & Equipment, net	518	526	539
Total Noncurrent Assets	80	61	65
Goodwill	59	42	42
Intangible Assets	16	9.41	11
Other Noncurrent Operating Assets	5.13	9.36	12
Total Liabilities & Shareholders' Equity	877	831	788
Total Liabilities	1,022	945	874
Total Current Liabilities	392	319	341
Short-Term Debt	0.03	0.05	23
Accounts Payable	14	16	71
Accrued Expenses	58	49	-
Current Deferred Revenue	319	252	245
Other Current Liabilities	1.85	1.92	1.66
Total Noncurrent Liabilities	630	626	533
Long-Term Debt	625	622	529
Noncurrent Deferred & Payable Income Tax Liabilities	3.54	2.12	0.00
Other Noncurrent Operating Liabilities	1.02	1.94	3.05
Commitments & Contingencies	0.00	0.00	0.00
Redeemable Noncontrolling Interest	108	111	97
Total Equity & Noncontrolling Interests	-253	-225	-183
Total Preferred & Common Equity	-253	-225	-183
Preferred Stock	0.00	0.00	0.00
Total Common Equity	-253	-225	-183
Common Stock	109	97	84
Retained Earnings	-363	-322	-267
Accumulated Other Comprehensive Income / (Loss)	0.29	0.00	-

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 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	890	858	868	852	854	774	812
Total Current Assets	288	284	287	259	259	176	203
Cash & Equivalents	194	168	178	168	143	84	116
Restricted Cash	31	50	46	37	54	37	30
Prepaid Expenses	63	66	62	45	52	44	45
Plant, Property, & Equipment, net	517	516	522	530	532	534	540
Total Noncurrent Assets	85	59	60	62	63	64	68
Goodwill	68	42	42	42	42	42	42
Intangible Assets	8.06	8.51	8.96	9.86	10	11	12
Other Noncurrent Operating Assets	9.17	8.38	8.87	7.93	8.34	8.95	7.64
Total Liabilities & Shareholders' Equity	890	858	868	852	854	774	812
Total Liabilities	1,012	1,014	984	943	957	857	867
Total Current Liabilities	386	383	358	319	333	328	329
Short-Term Debt	0.00	0.05	0.05	0.05	0.05	23	24
Accounts Payable	70	61	65	67	58	53	57
Current Deferred Revenue	314	320	291	251	273	250	247
Other Current Liabilities	1.55	1.59	1.76	1.72	1.70	1.68	1.52
Total Noncurrent Liabilities	626	631	627	624	624	528	537
Long-Term Debt	625	624	623	621	620	524	535
Noncurrent Deferred & Payable Income Tax Liabilities	0.00	6.31	2.59	1.45	1.45	1.49	-
Other Noncurrent Operating Liabilities	1.58	1.39	1.67	1.90	2.29	2.67	2.57
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	70	0.00
Redeemable Noncontrolling Interest	105	100	111	107	102	26	100
Total Equity & Noncontrolling Interests	-227	-255	-227	-198	-205	-178	-155
Total Preferred & Common Equity	-227	-255	-227	-198	-205	-178	-155
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-227	-255	-227	-198	-205	-178	-155
Common Stock	108	99	99	93	90	87	82
Retained Earnings	-335	-355	-326	-291	-294	-265	-237

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

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Growth Metrics	-	-	-
Revenue Growth	13.20%	35.12%	186.53%
EBITDA Growth	33.74%	436.85%	67.94%
EBIT Growth	183.46%	111.28%	33.14%
NOPAT Growth	103.35%	116.81%	43.12%
Net Income Growth	31.02%	62.21%	9.24%
EPS Growth	28.72%	57.85%	7.47%
Operating Cash Flow Growth	263.02%	1,254.83%	-106.78%
Free Cash Flow Firm Growth	197.23%	284.04%	110.31%
Invested Capital Growth	-17.75%	-4.98%	-13.00%
Revenue Q/Q Growth	3.74%	1.32%	14.20%
EBITDA Q/Q Growth	10.30%	7.93%	-0.52%
EBIT Q/Q Growth	31.89%	39.83%	4.43%
NOPAT Q/Q Growth	41.05%	15.87%	18.41%
Net Income Q/Q Growth	4.14%	11.95%	-5.55%
EPS Q/Q Growth	10.67%	7.84%	-3.24%
Operating Cash Flow Q/Q Growth	14.30%	-21.34%	-118.76%
Free Cash Flow Firm Q/Q Growth	25.07%	-38.87%	171.86%
Invested Capital Q/Q Growth	-4.97%	-1.15%	-5.64%
Profitability Metrics	-	-	-
Gross Margin	46.69%	43.40%	32.81%
EBITDA Margin	12.07%	10.21%	-4.10%
Operating Margin	3.34%	1.86%	-14.96%
EBIT Margin	3.20%	1.28%	-15.32%
Profit (Net Income) Margin	-4.37%	-7.18%	-25.66%
Tax Burden Percent	112.37%	108.34%	105.95%
Interest Burden Percent	-121.52%	-517.98%	158.05%
Effective Tax Rate	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	5.16%	2.25%	-12.17%
ROIC Less NNEP Spread (ROIC-NNEP)	-5.10%	-9.01%	-28.27%
Return on Net Nonoperating Assets (RNNOA)	16.58%	38.74%	322.52%
Return on Equity (ROE)	21.75%	41.00%	310.35%
Cash Return on Invested Capital (CROIC)	24.65%	7.36%	1.74%
Operating Return on Assets (OROA)	2.42%	0.90%	-8.00%
Return on Assets (ROA)	-3.30%	-5.05%	-13.39%
Return on Common Equity (ROCE)	40.10%	83.83%	1,163.26%
Return on Equity Simple (ROE_SIMPLE)	11.14%	18.16%	59.21%
Net Operating Profit after Tax (NOPAT)	15	7.42	-44
NOPAT Margin	2.34%	1.30%	-10.47%
Net Nonoperating Expense Percent (NNEP)	10.26%	11.26%	16.10%
Return On Investment Capital (ROIC_SIMPLE)	4.05%	1.87%	-11.92%
Cost of Revenue to Revenue	53.31%	56.60%	67.19%
SG&A Expenses to Revenue	21.70%	20.79%	22.84%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	43.35%	41.54%	47.76%
Earnings before Interest and Taxes (EBIT)	21	7.28	-65
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	78	58	-17
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)	1.00	1.06	0.97
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)	4.41	3.58	2.75
Enterprise Value to Revenue (EV/Rev)	1.80	2.01	2.21
Enterprise Value to EBITDA (EV/EBITDA)	14.95	19.72	0.00
Enterprise Value to EBIT (EV/EBIT)	56.34	157.53	0.00
Enterprise Value to NOPAT (EV/NOPAT)	77.11	154.66	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	12.60	45.10	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	16.15	47.35	147.29
Leverage & Solvency	-	-	-
Debt to Equity	-4.30	-5.47	-6.45
Long-Term Debt to Equity	-4.30	-5.47	-6.18
Financial Leverage	-3.25	-4.30	-11.41
Leverage Ratio	-6.59	-8.12	-23.18
Compound Leverage Factor	8.01	42.06	-36.63
Debt to Total Capital	130.32%	122.39%	118.33%
Short-Term Debt to Total Capital	0.01%	0.01%	5.00%
Long-Term Debt to Total Capital	130.32%	122.38%	113.34%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	22.42%	21.91%	20.77%
Common Equity to Total Capital	-52.74%	-44.30%	-39.10%
Debt to EBITDA	8.04	10.69	-32.01
Net Debt to EBITDA	5.26	7.47	-24.50
Long-Term Debt to EBITDA	8.04	10.69	-30.66
Debt to NOPAT	41.46	83.81	-12.53
Net Debt to NOPAT	27.13	58.56	-9.59
Long-Term Debt to NOPAT	41.45	83.81	-12.00
Altman Z-Score	0.46	0.45	-0.17
Noncontrolling Interest Sharing Ratio	-84.41%	-104.47%	-274.82%
Liquidity Ratios	-	-	-
Current Ratio	0.71	0.77	0.54
Quick Ratio	0.47	0.49	0.30
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	72	24	6.31
Operating Cash Flow to CapEx	275.52%	84.91%	-5.77%
Free Cash Flow to Firm to Interest Expense	1.57	0.54	0.17
Operating Cash Flow to Interest Expense	2.02	0.57	-0.06
Operating Cash Flow Less CapEx to Interest Expense	1.29	-0.10	-1.08
Efficiency Ratios	-	-	-
Asset Turnover	0.75	0.70	0.52
Accounts Receivable Turnover	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00
Fixed Asset Turnover	1.23	1.07	0.78
Accounts Payable Turnover	22.90	7.40	4.71
Days Sales Outstanding (DSO)	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00
Days Payable Outstanding (DPO)	15.94	49.35	77.50
Cash Conversion Cycle (CCC)	-15.94	-49.35	-77.50
Capital & Investment Metrics	-	-	-
Invested Capital	264	321	338
Invested Capital Turnover	2.21	1.73	1.16
Increase / (Decrease) in Invested Capital	-57	-17	-50
Enterprise Value (EV)	1,163	1,147	929
Market Capitalization	646	602	409
Book Value per Share	($4.64)	($4.22)	($3.44)
Tangible Book Value per Share	($6.02)	($5.18)	($4.44)
Total Capital	480	508	467
Total Debt	625	622	553
Total Long-Term Debt	625	622	529
Net Debt	409	434	423
Capital Expenditures (CapEx)	34	30	38
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-330	-262	-264
Debt-free Net Working Capital (DFNWC)	-114	-75	-134
Net Working Capital (NWC)	-114	-75	-158
Net Nonoperating Expense (NNE)	43	48	64
Net Nonoperating Obligations (NNO)	409	434	423
Total Depreciation and Amortization (D&A)	57	51	47
Debt-free, Cash-free Net Working Capital to Revenue	-51.21%	-46.01%	-62.65%
Debt-free Net Working Capital to Revenue	-17.68%	-13.11%	-31.90%
Net Working Capital to Revenue	-17.69%	-13.12%	-37.44%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($0.67)	$0.00	($2.23)
Adjusted Weighted Average Basic Shares Outstanding	53.82M	0.00	52.02M
Adjusted Diluted Earnings per Share	($0.67)	$0.00	($2.23)
Adjusted Weighted Average Diluted Shares Outstanding	53.82M	0.00	52.02M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	54.59M	0.00	53.19M
Normalized Net Operating Profit after Tax (NOPAT)	15	7.42	-44
Normalized NOPAT Margin	2.34%	1.30%	-10.47%
Pre Tax Income Margin	-3.89%	-6.62%	-24.22%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	0.45	0.16	-1.72
NOPAT to Interest Expense	0.33	0.16	-1.18
EBIT Less CapEx to Interest Expense	-0.28	-0.50	-2.74
NOPAT Less CapEx to Interest Expense	-0.40	-0.50	-2.20
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	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	18.54%	17.06%	9.38%	7.13%	6.27%	21.55%	37.28%	111.35%	79.94%	124.45%
EBITDA Growth	2,567.84%	36.05%	1,257.23%	-20.87%	107.09%	89.48%	105.97%	218.09%	-2.31%	467.21%
EBIT Growth	37.17%	48.84%	31.61%	-40.42%	13.38%	333.28%	40.22%	138.08%	16.19%	131.25%
NOPAT Growth	45.32%	96.70%	3.44%	31.50%	9.49%	403.46%	55.99%	117.43%	48.20%	132.90%
Net Income Growth	4.62%	197.88%	-1.22%	-641.13%	17.36%	253.86%	16.99%	101.85%	-21.64%	76.40%
EPS Growth	15.09%	350.00%	0.00%	-900.00%	13.11%	144.44%	18.64%	98.82%	-12.96%	64.00%
Operating Cash Flow Growth	117.02%	77.80%	6.90%	2,033.92%	-232.17%	188.46%	29.44%	-60.13%	-127.08%	-5,519.81%
Free Cash Flow Firm Growth	624.99%	62.29%	471.71%	239.40%	-82.07%	8.76%	26.86%	43.48%	1,032.43%	542.72%
Invested Capital Growth	-17.75%	-14.45%	-21.69%	-18.16%	-4.98%	-9.29%	-5.07%	-4.40%	-13.00%	-11.24%
Revenue Q/Q Growth	-27.86%	50.92%	-11.14%	22.54%	-28.77%	41.02%	-12.97%	21.56%	-18.53%	59.26%
EBITDA Q/Q Growth	-82.53%	539.33%	-66.67%	7,066.08%	-99.11%	6,278.11%	-98.06%	742.03%	-123.81%	301.04%
EBIT Q/Q Growth	-128.42%	461.13%	-207.89%	156.74%	-167.33%	265.94%	-193.99%	182.48%	-436.82%	122.89%
NOPAT Q/Q Growth	-113.16%	800.73%	-204.56%	156.71%	-147.34%	444.01%	-242.39%	139.03%	-363.34%	130.07%
Net Income Q/Q Growth	-199.96%	205.02%	-469.93%	84.06%	-412.19%	135.68%	-3,146.92%	102.43%	-481.23%	80.75%
EPS Q/Q Growth	-225.00%	175.00%	-380.00%	81.13%	-762.50%	116.67%	-4,700.00%	98.36%	-238.89%	69.49%
Operating Cash Flow Q/Q Growth	-94.02%	50.72%	-57.53%	544.85%	-162.45%	-9.38%	747.72%	169.25%	83.37%	-232.59%
Free Cash Flow Firm Q/Q Growth	-40.75%	36.94%	-6.52%	855.78%	-86.74%	382.43%	-44.50%	-49.52%	-19.53%	462.71%
Invested Capital Q/Q Growth	-4.97%	10.79%	-11.20%	-12.04%	-1.15%	1.42%	-7.19%	2.12%	-5.64%	6.14%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	45.33%	49.28%	42.39%	48.38%	38.51%	45.68%	37.78%	49.75%	36.25%	39.51%
EBITDA Margin	5.08%	20.98%	4.95%	13.20%	0.23%	18.05%	0.40%	17.87%	-3.38%	11.58%
Operating Margin	-5.09%	14.31%	-6.01%	5.11%	-11.04%	11.63%	-6.81%	8.69%	-12.97%	4.01%
EBIT Margin	-5.68%	14.41%	-6.02%	4.96%	-10.71%	11.33%	-9.63%	8.92%	-13.14%	3.18%
Profit (Net Income) Margin	-16.95%	12.23%	-17.58%	-2.74%	-21.07%	4.81%	-18.99%	0.54%	-27.09%	-3.80%
Tax Burden Percent	125.73%	136.57%	122.79%	106.15%	106.27%	99.96%	100.17%	33.52%	120.59%	145.99%
Interest Burden Percent	237.47%	62.16%	237.73%	-52.05%	185.04%	42.43%	196.89%	18.15%	170.92%	-81.82%
Effective Tax Rate	0.00%	-36.57%	0.00%	0.00%	0.00%	0.04%	0.00%	66.48%	0.00%	0.00%
Return on Invested Capital (ROIC)	-7.87%	40.35%	-8.73%	6.62%	-13.38%	19.17%	-7.71%	4.11%	-10.55%	2.73%
ROIC Less NNEP Spread (ROIC-NNEP)	-12.58%	36.66%	-13.13%	4.45%	-17.27%	16.27%	-12.08%	3.34%	-15.89%	0.26%
Return on Net Nonoperating Assets (RNNOA)	40.94%	-139.77%	42.11%	-14.82%	74.30%	-91.90%	63.53%	-16.69%	181.29%	-14.01%
Return on Equity (ROE)	33.07%	-99.42%	33.38%	-8.21%	60.92%	-72.73%	55.82%	-12.58%	170.74%	-11.29%
Cash Return on Invested Capital (CROIC)	24.65%	19.13%	25.87%	21.31%	7.36%	11.62%	4.02%	1.26%	1.74%	-2.31%
Operating Return on Assets (OROA)	-4.29%	10.29%	-4.16%	3.50%	-7.54%	7.66%	-6.00%	5.49%	-6.86%	1.43%
Return on Assets (ROA)	-12.79%	8.73%	-12.14%	-1.94%	-14.82%	3.25%	-11.84%	0.33%	-14.14%	-1.71%
Return on Common Equity (ROCE)	60.99%	-197.50%	59.44%	-12.38%	124.57%	-174.95%	124.00%	-21.53%	639.99%	-168.47%
Return on Equity Simple (ROE_SIMPLE)	0.00%	12.96%	18.06%	20.17%	0.00%	23.41%	29.47%	36.62%	0.00%	66.21%
Net Operating Profit after Tax (NOPAT)	-5.30	40	-5.75	5.50	-9.69	20	-5.95	4.18	-11	4.07
NOPAT Margin	-3.57%	19.54%	-4.21%	3.58%	-7.73%	11.63%	-4.77%	2.91%	-9.08%	2.81%
Net Nonoperating Expense Percent (NNEP)	4.71%	3.69%	4.40%	2.17%	3.90%	2.90%	4.38%	0.77%	5.34%	2.47%
Return On Investment Capital (ROIC_SIMPLE)	-1.42%	-	-	-	-2.44%	-	-	-	-2.89%	-
Cost of Revenue to Revenue	54.67%	50.72%	57.61%	51.62%	61.49%	54.32%	62.22%	50.25%	63.75%	60.49%
SG&A Expenses to Revenue	26.30%	16.65%	25.02%	21.08%	26.20%	17.06%	23.36%	18.42%	23.24%	16.95%
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	50.43%	34.97%	48.40%	43.27%	49.55%	34.05%	44.59%	41.06%	49.22%	35.50%
Earnings before Interest and Taxes (EBIT)	-8.44	30	-8.22	7.62	-13	20	-12	13	-16	4.60
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	7.55	43	6.76	20	0.28	32	0.50	26	-3.99	17
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)	1.00	0.81	0.87	0.86	1.06	0.68	1.09	1.02	0.97	0.97
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)	4.41	3.63	4.08	3.57	3.58	2.79	3.45	2.79	2.75	2.44
Enterprise Value to Revenue (EV/Rev)	1.80	1.62	1.73	1.74	2.01	1.61	2.08	1.93	2.21	2.36
Enterprise Value to EBITDA (EV/EBITDA)	14.95	14.28	17.31	19.08	19.72	16.82	28.39	31.97	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	56.34	64.32	172.91	476.59	157.53	174.07	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	77.11	94.14	232.81	240.68	154.66	141.61	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	12.60	12.46	14.93	14.98	45.10	28.04	0.00	0.00	0.00	74.18
Enterprise Value to Free Cash Flow (EV/FCFF)	16.15	17.48	13.86	15.10	47.35	22.88	83.54	216.19	147.29	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-4.30	-5.10	-4.01	-5.35	-5.47	-6.77	-6.02	-3.59	-6.45	-10.14
Long-Term Debt to Equity	-4.30	-5.10	-4.01	-5.35	-5.47	-6.77	-6.02	-3.44	-6.18	-9.70
Financial Leverage	-3.25	-3.81	-3.21	-3.33	-4.30	-5.65	-5.26	-5.00	-11.41	-54.61
Leverage Ratio	-6.59	-8.14	-6.62	-6.11	-8.12	-11.33	-11.04	-9.17	-23.18	-115.73
Compound Leverage Factor	-15.64	-5.06	-15.74	3.18	-15.03	-4.81	-21.73	-1.66	-39.61	94.69
Debt to Total Capital	130.32%	124.37%	133.20%	123.00%	122.39%	117.32%	119.92%	138.57%	118.33%	110.94%
Short-Term Debt to Total Capital	0.01%	0.00%	0.01%	0.01%	0.01%	0.01%	0.01%	5.90%	5.00%	4.78%
Long-Term Debt to Total Capital	130.32%	124.37%	133.19%	122.99%	122.38%	117.31%	119.92%	132.68%	113.34%	106.16%
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	22.42%	20.81%	21.37%	21.91%	21.91%	20.15%	19.68%	6.50%	20.77%	19.79%
Common Equity to Total Capital	-52.74%	-45.18%	-54.57%	-44.92%	-44.30%	-37.47%	-39.60%	-45.08%	-39.10%	-30.73%
Debt to EBITDA	8.04	8.85	10.55	11.79	10.69	11.52	15.95	18.22	-32.01	-32.52
Net Debt to EBITDA	5.26	5.67	6.87	7.54	7.47	7.72	10.87	14.20	-24.50	-24.03
Long-Term Debt to EBITDA	8.04	8.85	10.55	11.79	10.69	11.52	15.95	17.44	-30.66	-31.12
Debt to NOPAT	41.46	58.39	141.98	148.69	83.81	96.98	-160.54	-47.89	-12.53	-10.33
Net Debt to NOPAT	27.13	37.39	92.42	95.16	58.56	64.99	-109.45	-37.34	-9.59	-7.63
Long-Term Debt to NOPAT	41.45	58.39	141.97	148.68	83.81	96.97	-160.52	-45.86	-12.00	-9.88
Altman Z-Score	0.35	0.45	0.25	0.38	0.36	0.42	0.35	0.34	0.04	0.13
Noncontrolling Interest Sharing Ratio	-84.41%	-98.65%	-78.07%	-50.82%	-104.47%	-140.56%	-122.13%	-71.15%	-274.82%	-1,392.57%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.71	0.75	0.74	0.80	0.77	0.81	0.78	0.54	0.54	0.62
Quick Ratio	0.47	0.50	0.44	0.50	0.49	0.53	0.43	0.26	0.30	0.35
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	52	87	64	68	7.12	54	11	20	40	49
Operating Cash Flow to CapEx	17.02%	288.18%	251.18%	678.97%	-136.35%	197.49%	210.37%	32.03%	-34.40%	-297.06%
Free Cash Flow to Firm to Interest Expense	4.45	7.76	5.62	5.88	0.62	4.68	0.96	1.92	3.61	5.90
Operating Cash Flow to Interest Expense	0.14	2.50	1.65	3.79	-0.86	1.38	1.50	0.20	-0.27	-2.14
Operating Cash Flow Less CapEx to Interest Expense	-0.71	1.63	0.99	3.23	-1.50	0.68	0.79	-0.42	-1.06	-2.85
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.75	0.71	0.69	0.71	0.70	0.68	0.62	0.62	0.52	0.45
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	0.00	0.00	0.00	0.00	0.00	30.00	29.38	28.09	0.00	26.23
Fixed Asset Turnover	1.23	1.19	1.13	1.10	1.07	1.05	0.99	0.93	0.78	0.68
Accounts Payable Turnover	22.90	4.96	5.54	5.57	7.40	5.19	5.24	5.85	4.71	4.93
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)	0.00	0.00	0.00	0.00	0.00	12.17	12.42	13.00	0.00	13.91
Days Payable Outstanding (DPO)	15.94	73.66	65.88	65.53	49.35	70.31	69.70	62.44	77.50	73.98
Cash Conversion Cycle (CCC)	-15.94	-73.66	-65.88	-65.53	-49.35	-58.15	-57.28	-49.45	-77.50	-60.07
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	264	278	251	282	321	324	320	345	338	358
Invested Capital Turnover	2.21	2.06	2.07	1.85	1.73	1.65	1.62	1.41	1.16	0.97
Increase / (Decrease) in Invested Capital	-57	-47	-69	-63	-17	-33	-17	-16	-50	-45
Enterprise Value (EV)	1,163	1,007	1,023	1,008	1,147	907	1,104	961	929	871
Market Capitalization	646	502	517	498	602	384	579	508	409	359
Book Value per Share	($4.64)	($4.18)	($4.77)	($4.26)	($4.22)	($3.72)	($3.85)	($3.35)	($3.44)	($2.92)
Tangible Book Value per Share	($6.02)	($5.57)	($5.72)	($5.21)	($5.18)	($4.69)	($4.83)	($4.34)	($4.44)	($3.93)
Total Capital	480	502	468	506	508	529	517	395	467	504
Total Debt	625	625	624	623	622	621	620	548	553	559
Total Long-Term Debt	625	625	624	623	622	621	620	524	529	535
Net Debt	409	400	406	399	434	416	423	427	423	413
Capital Expenditures (CapEx)	9.87	9.75	7.43	6.47	7.24	8.01	8.29	6.43	8.64	6.02
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-330	-323	-317	-295	-262	-265	-271	-250	-264	-248
Debt-free Net Working Capital (DFNWC)	-114	-98	-99	-71	-75	-60	-74	-129	-134	-102
Net Working Capital (NWC)	-114	-98	-99	-71	-75	-60	-74	-152	-158	-126
Net Nonoperating Expense (NNE)	20	15	18	9.71	17	12	18	3.40	21	9.56
Net Nonoperating Obligations (NNO)	409	400	406	399	434	416	423	497	423	413
Total Depreciation and Amortization (D&A)	16	14	15	13	14	12	13	13	12	12
Debt-free, Cash-free Net Working Capital to Revenue	-51.21%	-51.95%	-53.52%	-50.90%	-46.01%	-47.08%	-51.10%	-50.20%	-62.65%	-67.27%
Debt-free Net Working Capital to Revenue	-17.68%	-15.81%	-16.72%	-12.24%	-13.11%	-10.64%	-13.91%	-25.91%	-31.90%	-27.73%
Net Working Capital to Revenue	-17.69%	-15.81%	-16.73%	-12.24%	-13.12%	-10.65%	-13.92%	-30.60%	-37.44%	-34.25%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.48)	$0.39	($0.48)	($0.10)	($0.53)	$0.08	($0.48)	($0.01)	($0.61)	($0.18)
Adjusted Weighted Average Basic Shares Outstanding	53.82M	54.10M	53.50M	53.37M	53.26M	53.31M	53.25M	53.13M	52.02M	53.05M
Adjusted Diluted Earnings per Share	($0.45)	$0.36	($0.48)	($0.10)	($0.53)	$0.08	($0.48)	($0.01)	($0.61)	($0.18)
Adjusted Weighted Average Diluted Shares Outstanding	53.82M	62.59M	53.50M	53.37M	53.26M	53.40M	53.25M	53.13M	52.02M	53.05M
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	54.59M	54.50M	54.32M	53.53M	53.43M	53.39M	53.33M	53.25M	53.19M	53.14M
Normalized Net Operating Profit after Tax (NOPAT)	-5.30	21	-5.75	5.50	-9.69	20	-5.95	8.73	-11	4.07
Normalized NOPAT Margin	-3.57%	10.02%	-4.21%	3.58%	-7.73%	11.63%	-4.77%	6.09%	-9.08%	2.81%
Pre Tax Income Margin	-13.48%	8.96%	-14.32%	-2.58%	-19.82%	4.81%	-18.96%	1.62%	-22.46%	-2.60%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.73	2.64	-0.73	0.66	-1.18	1.74	-1.03	1.22	-1.41	0.55
NOPAT to Interest Expense	-0.46	3.58	-0.51	0.47	-0.85	1.78	-0.51	0.40	-0.97	0.49
EBIT Less CapEx to Interest Expense	-1.58	1.77	-1.38	0.10	-1.81	1.04	-1.74	0.61	-2.20	-0.17
NOPAT Less CapEx to Interest Expense	-1.31	2.72	-1.16	-0.08	-1.48	1.09	-1.22	-0.21	-1.76	-0.23
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 fiscal year end?

According to the most recent income statement we have on file, Lindblad Expeditions' financial year ends in December. Their financial 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. View Lindblad Expeditions' forecast to see where analysts expect Lindblad Expeditions to go next.

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 5/30/2025 by MarketBeat.com Staff

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Lindblad Expeditions (LIND) Financials

Frequently Asked Questions About Lindblad Expeditions' Financials

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Lindblad Expeditions (LIND) Financials

Annual Income Statements for Lindblad Expeditions

Quarterly Income Statements for Lindblad Expeditions

Annual Cash Flow Statements for Lindblad Expeditions

Quarterly Cash Flow Statements for Lindblad Expeditions

Annual Balance Sheets for Lindblad Expeditions

Quarterly Balance Sheets for Lindblad Expeditions

Annual Metrics And Ratios for Lindblad Expeditions

Quarterly Metrics And Ratios for Lindblad Expeditions

Frequently Asked Questions About Lindblad Expeditions' Financials

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