LNNLindsay Corporation
Is the business good?
The checks split: 7 of 9 health tests passed and earnings fully cash-backed (1.5×), but margins compressing.
High fundamental quality. Nine pass/fail tests of year-over-year health from the filings.
Operating profit is fully backed by cash. Conversion is worsening vs a year ago.
Operating margin has narrowed over the past few years, profitability per dollar of sales is eroding.
A balanced mix of margins, efficiency, and leverage. ROE 12% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is LNN?
Lindsay Corporation earns 12% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
Return on invested capital · cost of capital 9.0% · 3.3 points above what the capital costs: growth creates value
- Operating margin
- 11%
Operating margin · Farm & Heavy Construction Machinery median 5.8% · 12 months to Q4 2026
- Cash conversion
- 1.51×
Cash conversion · 1.93× a year ago · operating cash flow covers the operating profit after tax
- R&D as % of revenue
- 2.7%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2021 | 9.5% |
| FY2022 | 12% |
| FY2023 | 15% |
| FY2024 | 13% |
| FY2025 | 13% |
| FY2026 | 11% |
Details›
- Gross margin12 months to Q4 2026
- 29%
- Operating margin12 months to Q4 2026
- 11%
- Net margin12 months to Q4 2026
- 8.8%
- Free cash flow margin
- 5.5%
- R&D as % of revenue
- 2.7%
- Revenue, trailing twelve months
- $636M
- Free cash flow, trailing twelve months
- $35M
- Net income, trailing twelve months
- $56M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 12%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Customers and suppliers
Who buys from LNN and who it buys from, as the companies report it.
- One customer12%
Share of revenue · FY2026 10-K
None disclosed.
A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; LNN’s own figures are from its FY2026 10-K. Smaller customers and suppliers go unreported.
Farm & Heavy Construction Machinery
Ranks #7 of 14 by RyuScore