Is the business good?
How good a business is LNN?
Lindsay Corporation earns 11% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
11%
Return on invested capital · cost of capital 9.0% · 1.7 points above what the capital costs: growth creates value
- Operating margin
- 10.0%
Operating margin · Farm & Heavy Construction Machinery median 9.2% · 12 months to Q3 2026
- Cash conversion
- 0.81×
Cash conversion · 1.16× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- −5.4%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 11% |
| FY2021 | 9.5% |
| FY2022 | 12% |
| FY2023 | 15% |
| FY2024 | 13% |
| FY2025 | 13% |
Details›
- Gross margin12 months to Q3 2026
- 29%
- Operating margin12 months to Q3 2026
- 10.0%
- Net margin12 months to Q3 2026
- 8.8%
- Free cash flow margin
- 7.1%
- R&D as % of revenue
- 3.0%
- Revenue, trailing twelve months
- $628M
- Free cash flow, trailing twelve months
- $45M
- Net income, trailing twelve months
- $55M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 11%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Farm & Heavy Construction Machinery
Ranks #10 of 12 by Smart Score