Lincoln International, Inc. (LCLN) is a Financials stock trading at $23.34 (as of 2026-08-20), with a market capitalization of $2.39B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.
Understand Lincoln International, Inc.: how it makes money
Lincoln International, Inc. operates in the Financials sector (Trading), earning revenue from trading-related activities.
Despite quarterly revenue $200M (+51% YoY), operating margin is -7%, so the profit model is currently revenue-growth driven but not yet profitability driven.
Business quality (Weak): Business quality grade is Weak.
Valuation: At 5442× earnings, LCLN trades 14582% above the Trading average (37×).
Bull case
Revenue momentum is strong: The latest period shows quarterly revenue $200M (+51% YoY), suggesting demand and activity levels are rising, which can help future profitability if operating costs stay controlled.
Bear case
Operating losses at the core: Operating margin is -7%, meaning the business is not converting revenue into operating profit in the latest period.
Valuation implies perfection: P/E is 5442.0× vs Trading industry 37× (14582% above), indicating the stock price is far ahead of industry norms, which can amplify downside if margins fail to improve.
Valuation — source: SEC EDGAR (first-party)
Price
$23.34
Market Cap
$2.39B
Price / Book
5.55
FCF Yield
7.4%
Profitability & Growth — source: SEC EDGAR
Revenue Growth (YoY)
50.8%
FCF Growth (YoY)
32.6%
Valuation vs Sector & Industry
Sector P/E (Financials)
15.1
Industry P/E (Trading)
34.6
Company
Sector
Financials
Industry
Trading
Related Companies (Business model: Asset Manager (Traditional + Alternatives); 8 closest by market cap; US-domiciled)