# Lindsay Corporation (LNN)

> Source: Nexqual · https://nexqual.com/LNN · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Lindsay Corporation (LNN), nexqual.com/LNN" · informational, not investment advice.

**Price:** USD 111.99 (+5.07% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 106.59 · day 106.5–113.6 · 52w 97.27–148 · market cap $1.14B · NYQ

## Key facts
- Last four reported quarters (through Aug 31, 2026): revenue $636M, net income $55.7M (8.8% margin), free cash flow $34.7M (SEC filings).
- Valuation: P/E 20.5x (avg 20.8x at the last 3 fiscal year-ends).
- Analysts: Hold (mean 2.75 on a 1–5 scale) (4 analysts), mean target USD 122 (range 119–125).
- Total return with dividends: 1Y -3.2% vs S&P 500 +14.9%; 5Y -18.6% vs S&P 500 +80.3%.
- Next earnings: 2027-01-07, EPS estimate USD 1.52, revenue estimate $145M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $771M | $674M | $607M | $676M | $636M | $636M |
| Gross profit | $199M | $213M | $191M | $211M | $184M | — |
| Operating income | $94.6M | $102M | $76.6M | $88.1M | $66.9M | $66.9M |
| Net income | $65.5M | $72.4M | $66.3M | $74.1M | $55.7M | $55.7M |
| EPS (diluted) | $5.94 | $6.54 | $6.01 | $6.78 | $5.33 | — |
| Free cash flow | -$12.5M | $101M | $66.8M | $90.4M | $34.7M | $34.7M |
| Gross margin | 25.8% | 31.6% | 31.5% | 31.2% | 28.9% | — |
| Operating margin | 12.3% | 15.2% | 12.6% | 13.0% | 10.5% | 10.5% |
| Net margin | 8.5% | 10.7% | 10.9% | 10.9% | 8.8% | 8.8% |
| Revenue growth | +35.8% | -12.5% | -9.9% | +11.4% | -6.0% | — |
| Cash + short-term investments | $117M | $166M | $191M | $251M | — | — |
| Total debt | $116M | $116M | $115M | $115M | $115M | — |
Fiscal years end Aug. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Aug 31, 2026)
P/E 20.5x · P/S 1.8x · P/FCF 32.8x · P/B 2.3x · FCF yield 3.05% · Earnings yield 4.89% · Dividend yield (paid, TTM) 1.35% · Buyback yield (TTM) 7.09%
P/E at fiscal year-ends: Aug 2026 21.5x, Aug 2025 20.2x, Aug 2024 20.6x.

## Analysts
Consensus Hold (mean 2.75 on a 1–5 scale), 4 analysts; mean target USD 122 (low 119, high 125).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -3.2% | -18.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -3.2% | -4.0% |
| Volatility (annualized) | 30.0% | 29.2% |
| Max drawdown | -24.5% (Feb 2026→Apr 2026) | -40.1% (Nov 2022→Mar 2026) |

## Peers (Farm & Heavy Construction Machinery)
ASTE (Astec Industries, Inc.) USD 38.9 -1.67% · AEBI (Aebi Schmidt Holding AG) USD 11.19 -0.36% · MTW (Manitowoc Company, Inc. (The)) USD 22.15 -2.64% · ALG (Alamo Group, Inc.) USD 147.23 -0.86% · BLBD (Blue Bird Corporation) USD 56.73 -0.68% · WNC (Wabash National Corporation) USD 13.1 +1.08%

## More
Full page: https://nexqual.com/LNN · 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 2026-08-31)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Irrigation | $133.7M | 82.8% | +3.7% | $17.3M | 12.9% |
| Infrastructure | $23.8M | 14.7% | +19.1% | $5.0M | 20.9% |
| Corporate costs (not allocated) | — | — | — | $6.5M | — |
| Total revenue | $161.6M | 100% | — | $15.8M | 9.8% |
The lines above cover 97.5% of total revenue.

## Revenue by region (quarter ended 2026-05-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| International | $71.7M | 44.6% | -4.0% |
| North America | $61.3M | 38.2% | -11.2% |
| Total revenue | $160.8M | 100% | — |
The lines above cover 82.8% of total revenue.

## Company outlook (8-K filed 2026-10-22)

- "We anticipate Road Zipper System leasing to be comparable to this fiscal year, while we continue to actively manage Road Zipper System projects through the sales funnel." Fourth Quarter Conference Call Lindsay's fiscal 2026 fourth quarter investor conference call is scheduled for 11:00 a.m."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-11-30) | $1.52 | $1.48 | +2.7% | $144.7M | 1 |
| Next quarter (ends 2027-02-28) | $1.18 | $1.59 | -26.0% | $150.5M | 1 |
| Current fiscal year (ends 2027-08-31) | $5.70 | $6.05 | -5.7% | $601.0M | 1 |
| Next fiscal year (ends 2028-08-31) | $6.35 | $6.34 | +0.2% | $652.3M | 2 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2027-03-19 (includes earnings 2027-01-07): ±16.8%; earnings reaction alone ±3.4%; last 8 reports averaged ±6.1%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 34.6% | ±7.9% |
| 2026-12-18 | 56 | 32.8% | ±10.4% |
| 2027-03-19 | 147 | 33.4% | ±16.8% |
| 2027-06-17 | 237 | 33.8% | ±21.4% |