# Lincoln International, Inc. (LCLN)

> Source: Nexqual · https://nexqual.com/LCLN · data as of 2026-10-29 19:51 UTC · cite as "Nexqual, Lincoln International, Inc. (LCLN), nexqual.com/LCLN" · informational, not investment advice.

## LCLN major shareholder filing: Schedule 13D, Aug 14, 2026
Lawrence James Lawson III, Robert Todd Brown, Eric Dennis Malchow filed a Schedule 13D on Aug 14, 2026, reporting up to 31.20% of the class (more than 5% owner that may seek to influence the company). Item 4, Purpose of Transaction, quoted:

> General The Reporting Persons intend to review their investments in the Issuer on a continuing basis. Any actions the Reporting Persons might undertake will be dependent upon the Reporting Persons' review of numerous factors, including, but not limited to: an ongoing evaluation of the Issuer's business, financial condition, operations and prospects; price levels of the Issuer's securities; general market, industry and economic conditions; the relative attractiveness of alternative business and investment opportunities; and other future developments. The Reporting Persons may acquire additional securities of the Issuer, or retain or sell all or a portion of the securities then held, in the open market or in privately negotiated transactions. The Reporting Persons may also enter into financial instruments or other agreements with institutional or other counterparties that would increase or decrease the Reporting Persons' economic exposure with respect to their investment in the Issuer, which instruments or agreements may or may not affect the Reporting Persons' beneficial ownership in securities of the Issuer. …

Source: https://www.sec.gov/Archives/edgar/data/1925283/000119312526352320/0001193125-26-352320-index.htm

**Price:** USD 24.88 (+2.77% today) · US market open, as of October 29, 2026 at 19:51 UTC; quotes may be delayed. Prev close 24.21 · day 24.19–24.99 · 52w 20.05–27.55 · market cap $2.62B · NYQ

## Key facts
- Valuation: P/E 43.5x, net cash $149M.
- Analysts: Buy (mean 2.43 on a 1–5 scale) (7 analysts), mean target USD 27.07 (range 25–30).
- Total return with dividends: 1Y +10.8% vs S&P 500 +13.1%; 5Y +3.7% vs S&P 500 +79.0%.
- Next earnings: 2026-11-05, EPS estimate USD 0.37, revenue estimate $256M.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 43.5x · P/B 19.4x · Earnings yield 2.30% · Net cash $149M · EV $2.47B

## Analysts
Consensus Buy (mean 2.43 on a 1–5 scale), 7 analysts; mean target USD 27.07 (low 25, high 30).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-08 | Morgan Stanley | Target lowered | Equal-Weight | $28 → $27 |
| 2026-08-12 | Evercore ISI Group | Target raised | In-Line | $25 → $26 |
| 2026-08-10 | Keefe, Bruyette & Woods | Target raised | Market Perform | $24 → $25 |
| 2026-07-10 | Keefe, Bruyette & Woods | Target lowered | Market Perform | $26 → $24 |

## Total return (dividends reinvested)
|  | 1Y (from 2026-05-20) | 5Y (from 2026-05-18) |
|---|---|---|
| Total return | +10.8% | +3.7% |
| S&P 500 (SPY) | +13.1% | +79.0% |
| Per year | — | — |
| Volatility (annualized) | 46.0% | 48.2% |
| Max drawdown | -17.8% (Jun 2026→Aug 2026) | -16.3% (Jun 2026→Jul 2026) |

## Peers (Capital Markets)
MIAX (Miami International Holdings, I) USD 31.28 -2.19% · LAZ (Lazard, Inc.) USD 39.55 +2.79% · MC (Moelis & Company) USD 59.78 +2.53% · PIPR (Piper Sandler Companies) USD 68.42 +2.18% · VIRT (Virtu Financial, Inc.) USD 54.32 -2.03% · FIGR (Figure Technology Solutions, In) USD 23.48 +0.62%

## More
Full page: https://nexqual.com/LCLN · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Investment Banking Advisory | $177.7M | 78.8% | +55.7% | -$14.4M | -8.1% |
| Valuations and Opinions | $47.9M | 21.2% | +35.0% | -$1.5M | -3.1% |
| Total revenue | $225.7M | 100% | — | -$15.9M | -7.0% |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Americas | $171.9M | 76.2% | +46.2% |
| Europe | $52.4M | 23.2% | +86.0% |
| Asia | $1.4M | 0.6% | -64.9% |
| Total revenue | $225.7M | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.37 | $0.27 | +38.4% | $255.5M | 7 |
| Next quarter (ends 2026-12-31) | $0.54 | $0.68 | -20.4% | $346.6M | 6 |
| Current fiscal year (ends 2026-12-31) | $1.34 | $1.22 | +9.6% | $989.7M | 7 |
| Next fiscal year (ends 2027-12-31) | $1.73 | $1.71 | +1.3% | $1.14B | 7 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $0.26 | $0.13 | Beat +100.0% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-26 | Schedule 13G/A | Millennium Management LLC, Millennium Group Management LLC: 2.0% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1925283/000110465926118890/0001104659-26-118890-index.htm |
| 2026-09-18 | Schedule 13G | Millennium Management LLC, Millennium Group Management LLC: 5.6% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1925283/000110465926108977/0001104659-26-108977-index.htm |
| 2026-08-14 | Schedule 13D | Lawrence James Lawson III, Robert Todd Brown: 31.2% of shares, 5%+ holder that may seek to influence the company — “General The Reporting Persons intend to review their investments in the Issuer on a continuing basis. Any actions the Reporting Persons might undertake will be dependent upon the Reporting Persons' review of numerous factors, including, but not limited to: an ongoing evaluation…” | https://www.sec.gov/Archives/edgar/data/1925283/000119312526352320/0001193125-26-352320-index.htm |
| 2026-08-14 | 8-K | Unregistered sale of shares | https://www.sec.gov/Archives/edgar/data/1925283/000162828026056917/0001628280-26-056917-index.htm |
| 2026-08-10 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1925283/000162828026054954/0001628280-26-054954-index.htm |
| 2026-08-06 | Schedule 13G | FMR LLC, Abigail P. Johnson: 10.0% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1925283/000031506626002053/0000315066-26-002053-index.htm |
| 2026-08-06 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1925283/000162828026053815/0001628280-26-053815-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.