Lindblad Expeditions Holdings, Inc. (LIND) Stock

Lindblad Expeditions Holdings, Inc. (LIND) is a Industrials stock trading at $31.07 (as of 2026-08-21), with a market capitalization of $2.04B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Lindblad Expeditions Holdings, Inc. offers expedition cruises and land-based adventure travel experiences through brands including Lindblad and Natural Habitat, as well as cycling and active tours under DuVine and guided journeys under Off the Beaten Path and Classic Journeys. The company serves travelers seeking small-group and private travel itineraries worldwide, including voyages operated with its expedition ship fleet and nature-focused land programs.

Understand Lindblad Expeditions Holdings, Inc.: how it makes money

Lindblad Expeditions Holdings runs expedition cruise travel and land-based small-group adventure tours under the Lindblad, Natural Habitat, DuVine, and Off the Beaten Path brands, earning money by selling trips that use its fleet of ten owned expedition ships and five seasonal charter vessels plus related land experiences.

Its profit model is capacity utilization and pricing, selling trips powered by its owned expedition ships and seasonal charter vessels, while generating economics that depend on occupancy and per-guest yield across the Lindblad and land-experiences offerings.

Revenue by segment (latest quarter)
Lindblad$0.1B
Land Exp$0.1B

Business quality (Weak): Segment reporting and operating KPIs that tie to capacity use (occupancy) and pricing (net yield) are available, which helps investors connect results to how full the voyages and tours are and what guests pay, though the latest-quarter operating margin remains modest.

Bull case

  • High capacity utilization in the period: The company reported an Occupancy Rate of 93% in the latest quarter.
  • Scale and breadth across travel formats and brands: It operates expedition cruising via ten owned expedition ships and five seasonal charter vessels, and it also runs nature-focused small-group tours and other active tours under multiple brands.

Bear case

  • Operating profitability is limited versus gross margin: Even with gross margin of 48.7%, the operating margin was 7.5% in the latest quarter.
  • Results likely hinge on demand matching to available capacity: Its business depends on filling voyages and tour inventory, with both owned ships and seasonal charter vessels that can constrain flexibility when demand or travel conditions change.
Valuation — source: SEC EDGAR (first-party)
Price$31.07
Market Cap$2.04B
EV / EBITDA18.8
Price / Sales2.45
FCF Yield5.3%
DCF Value (model)$4.81
DCF Upside vs Price-84.5%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$771.02M
Net Margin-3.9%
Revenue Growth (YoY)18.6%
EPS Growth (YoY)-88.9%
FCF Growth (YoY)279.0%
Financial Health — source: SEC EDGAR
Altman Z-Score1.20 (distress)
Piotroski F-Score6/9 (moderate)
Valuation vs Sector & Industry
Sector P/E (Industrials)25.9
Industry P/E (Transportation)16.9
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderFMR LLC ($71.23M)
Institutional Holders Tracked10
Company
SectorIndustrials
IndustryTransportation
CEOBenjamin L. Bressler
Employees1,230
CountryUS
IPO Date2013-07-03

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LIND earnings history · LIND institutional & insider holders · LIND KPIs & operating metrics · LIND financials · LIND investor presentations & press releases · LIND SEC filings · LIND peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.