LINDSAY CORP
LNN · Farm Machinery & Equipment · 10.4M shares · +1%/yr ↑ shares · EDGAR filings ↗
Reference price $142.08 · est. market cap ~$1.5B — last insider sale, 2025-08-13 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B78Lindsay is a profitable, growing irrigation and infrastructure maker with top-decile ROA and a clean balance sheet.
Strengths
- ROA ~8.8% (87th pct), operating margin 13.4% (77th pct), revenue +12.8% and net income +11.8%
- Very strong liquidity (current ratio 3.7) and low leverage (D/E 0.22); leading Zimmatic/FieldNET franchise
Risks
- Cyclical demand tied to ag commodity prices, farm income and government infrastructure funding
- Revenue concentration in large multi-year projects (e.g., $100M+ MENA agreement)
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Strong balance sheetStrong balance sheet — $251M cash & investments
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
31.2%
Operating margin
13.0%
Net margin
10.9%
Return on equity
13.9%
Return on assets
8.8%
ROIC
10.7%
Revenue growth (QoQ)
1.2%
Net-income growth
11.8%
Debt / equity
0.2×
Net debt / EBITDA
-1.2×
Current ratio
3.7×
Free cash flow
$90M
EBITDA
$109M
Tangible book value
$425M
Cash & investments
$251M
Stock comp / revenue
1.2%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-01-12 | Coburn Brett Richard | Grant | 162 | — |
| 2026-01-06 | Madere Consuelo E. | Grant | 1.0K | — |
| 2026-01-06 | RAYBURN DAVID B | Grant | 1.0K | — |
| 2026-01-06 | CHRISTODOLOU MICHAEL | Grant | 1.0K | — |
| 2026-01-06 | LINDSEY MARY A | Grant | 1.0K | — |
| 2026-01-06 | Brunner Robert E | Grant | 1.0K | — |
| 2026-01-06 | Di Si Pablo | Grant | 1.0K | — |
| 2026-01-06 | Di Si Pablo | Grant | 684 | — |
| 2026-01-06 | Khandaker Jahidul Huq | Grant | 1.0K | — |
| 2025-12-01 | Magnusson Brian James | Grant | 427 | — |
| 2025-11-03 | Hinrichsen Samuel S | Grant | 2.7K | — |
| 2025-11-01 | Marion James Scott | Grant | 499 | — |
| 2025-11-01 | Marion James Scott | Tax withheld | 546 | $111.24 |
| 2025-11-01 | Ketcham Brian L | Grant | 768 | — |
| 2025-11-01 | Ketcham Brian L | Tax withheld | 813 | $111.24 |
| 2025-11-01 | Wood Randy A | Grant | 3.0K | — |
| 2025-11-01 | Wood Randy A | Tax withheld | 3.3K | $111.24 |
| 2025-11-01 | Oberto Gustavo E | Grant | 499 | — |
| 2025-11-01 | Oberto Gustavo E | Tax withheld | 546 | $111.24 |
| 2025-10-27 | Marion James Scott | Grant | 983 | — |
| 2025-10-27 | Oberto Gustavo E | Grant | 983 | — |
| 2025-10-27 | Wood Randy A | Grant | 6.6K | — |
| 2025-10-21 | Khandaker Jahidul Huq | Grant | 289 | — |
| 2025-08-13 | Brunner Robert E | Sell | 1.3K | $142.08 |
| 2025-08-13 | Brunner Robert E | Sell | 1.9K | $142.08 |
| 2025-07-01 | Ketcham Brian L | Option exercise | 4.0K | $78.23 |
| 2025-07-01 | Ketcham Brian L | Sell | 4.0K | $149.09 |
| 2025-05-12 | Di Si Pablo | Sell | 640 | $138.29 |
| 2025-01-30 | Wood Randy A | Option exercise | 3.8K | $78.23 |
| 2025-01-30 | Wood Randy A | Option exercise | 3.8K | $91.56 |
| 2025-01-30 | Wood Randy A | Sell | 3.7K | $135.25 |
| 2025-01-30 | Wood Randy A | Sell | 3.9K | $135.95 |
| 2025-01-08 | Di Si Pablo | Grant | 973 | — |
| 2025-01-08 | Di Si Pablo | Grant | 649 | — |
| 2025-01-08 | CHRISTODOLOU MICHAEL | Grant | 973 | — |
| 2025-01-08 | LINDSEY MARY A | Grant | 973 | — |
| 2025-01-08 | RAYBURN DAVID B | Grant | 973 | — |
| 2025-01-08 | Brunner Robert E | Grant | 973 | — |
| 2025-01-08 | Madere Consuelo E. | Grant | 973 | — |
| 2025-01-08 | Gokcen Ibrahim | Grant | 973 | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-04-02 | ResultsExhibits | filing ↗ |
| 2026-01-12 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2026-01-08 | ResultsExhibits | filing ↗ |
| 2025-11-07 | Exec/director changeExhibits | filing ↗ |
| 2025-11-05 | Reg FDExhibits | filing ↗ |
| 2025-10-24 | Exec/director changeExhibits | filing ↗ |
| 2025-10-23 | ResultsExhibits | filing ↗ |
| 2025-10-14 | Exec/director changeReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-04-02 | 2026-04-02 | 0001193125-26-138910 ↗ |
| 10-Q | 2026-04-02 | 2026-02-28 | 0001193125-26-140093 ↗ |
| 8-K | 2026-01-12 | 2026-01-06 | 0001193125-26-009690 ↗ |
| 10-Q | 2026-01-08 | 2025-11-30 | 0001193125-26-007695 ↗ |
| 8-K | 2026-01-08 | 2026-01-08 | 0001193125-26-007004 ↗ |
| 8-K | 2025-11-07 | 2025-11-03 | 0001193125-25-272380 ↗ |
| 8-K | 2025-11-05 | 2025-11-03 | 0001193125-25-265663 ↗ |
| 8-K | 2025-10-24 | 2025-10-22 | 0001193125-25-249322 ↗ |
| 10-K | 2025-10-23 | 2025-08-31 | 0001193125-25-248751 ↗ |
| 8-K | 2025-10-23 | 2025-10-23 | 0001193125-25-247621 ↗ |
| 8-K | 2025-10-14 | 2025-10-14 | 0001193125-25-239032 ↗ |
| 8-K | 2025-09-15 | 2025-09-15 | 0001193125-25-203644 ↗ |