| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 63 | — | 17.8x | Around median | |
Growth | 47 | 1.0% | 7.1% | Around median | |
Quality | 32 | 1.2% | 4.5% | Bottom tier | |
Safety | 34 | 7.7x | 2.6x | Bottom tier | |
Capital Return | 46 | 5.59% | 2.12% | Around median | |
Momentum | 47 | 1.4% | 2.9% | Around median | |
Sentiment | 88 | 5 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Lineage, Inc. is a cold-chain infrastructure company that connects food producers, manufacturers, distributors, and retailers through temperature-controlled storage and logistics services. The company generates income from storage, rent, and freezing, as well as pallet-handling, transportation, and food services within the Global Integrated Solutions segment; its competitive position also depends on its facility network, automation, and wholly owned LinOS platform.
According to EDGAR filings, Lineage recorded revenue of $1.3 billion and gross profit of $417 million in fiscal Q1 2026, equivalent to a gross margin of approximately 32.1%, but incurred a net loss of $46 million and a loss per share of $0.18. In fiscal 2025, revenue totaled $5.4 billion and gross profit reached $1.7 billion, compared with a net loss of $100 million; fiscal 2026 trailing-twelve-month data show a net loss of $146 million and negative earnings per share of approximately $0.64.
In fiscal Q2 2026, adjusted EBITDA was approximately $320 million, and AFFO was approximately $198 million, or $0.76 per share, exceeding management and consensus expectations. The Global Warehouse segment generated net operating income of $367 million, with same-warehouse net operating income declining 2.9%, while Global Integrated Solutions generated net operating income of $61 million and an underlying margin of 19% after excluding a $7 million legal settlement. Same-warehouse economic occupancy increased 90 basis points year over year, but handling pallets declined 1.8%, and rent, storage, and freezing revenue per economic pallet decreased 0.7%.
Automated analysis for informational purposes only — not investment advice.
The average analyst price target is $45.18, within a wide range of $35 to $53, and the average is near the upper end of the 52-week range of $31.33–$45.75; the consensus is also neutral rather than buy. No positive price-to-earnings multiple is available because Lineage recorded net losses in fiscal 2025 and in fiscal 2026 trailing-twelve-month data, so the valuation effectively rests on AFFO, net operating income stabilization, and the successful reduction of leverage from approximately 6.0 times to the target range of 5.0 to 5.5 times.
Figures in the text are as of 2026-08-29; the live price is shown at the top of the page.
Results are being shaped by improving occupancy and continued weakness in trade-related handling. In fiscal Q2 2026, same-warehouse economic occupancy increased 90 basis points, while handling pallets declined 1.8% and container volumes fell 14%. Cost management and the development portfolio helped adjusted EBITDA reach $320 million and AFFO reach $0.76 per share, prompting management to raise annual AFFO guidance to $2.80–$3.05.
The August 5, 2026 call showed signs of stabilization, but not a full return to growth. Same-warehouse economic occupancy increased 90 basis points year over year, but same-warehouse net operating income declined 2.9% in fiscal Q2 2026. For fiscal 2026, management expects a range from a 3% decline to flat, with fiscal Q4 2026 growth approaching flat year over year according to its expectations.
LinOS is a company-owned operating and automation platform used in its automated and conventional facilities. In fiscal Q2 2026, it expanded to 14 conventional facilities, and management said all of them were achieving internal savings targets, with 20 facilities targeted by the end of fiscal 2026. Lineage is targeting a $110 million EBITDA impact, but management clarified that the impact in fiscal Q4 2026 would not be significant and would increase in fiscal 2027 and 2028.
Lineage has 20 facilities under construction or in gradual ramp-up and stabilization, with a cumulative investment of $1.1 billion. The company expects these projects to add more than $134 million in net operating income upon stabilization, and pre-leasing has reached 71%. It also expected a non-same-facility net operating income run rate of approximately $20 million per quarter in fiscal Q3 and Q4 2026 after excluding the impact of Big Bear.
The Big Bear facility is approximately 500 thousand square feet and contains about 85 thousand pallet positions, equivalent to approximately 1% of the company's global capacity. On August 5, 2026, Lineage estimated that the fire would reduce adjusted EBITDA by approximately $15 million during fiscal Q3 and Q4 2026 due to lost revenue and customer and employee support costs. The guidance did not include any benefit from business interruption insurance, while the company said repair, remediation, and legal costs could not be precisely determined as of that date.
Lineage ended fiscal Q2 2026 with net debt of approximately $7.8 billion and liquidity of approximately $1.6 billion. Adjusted net debt to transaction-adjusted EBITDA was approximately 5.3 times, but reported leverage was approximately 6.0 times compared with a target of 5.0 to 5.5 times. Management explained that achieving the target could require disposition proceeds of slightly more than $1 billion, while remaining committed to maintaining an investment-grade balance sheet and funding high-return growth projects.
