| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 60 | 22.3x | 17.8x | Around median | |
Growth | 16 | -7.4% | 7.1% | Bottom tier | |
Quality | 48 | 7.1% | 4.5% | Around median | |
Safety | 84 | — | 2.6x | Top tier | |
Capital Return | 34 | 1.26% | 2.12% | Bottom tier | |
Momentum | 39 | -16.7% | 2.9% | Bottom tier | |
Sentiment | 64 | 3 | 3 | Around median |
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.
Lindsay Corporation operates in two primary businesses: irrigation and infrastructure. The irrigation segment sells mechanized irrigation equipment and connected digital solutions such as FieldNET, FieldWise, FieldNET Advisor, and SmartPivot, while the infrastructure segment generates revenue from road safety products and Road Zipper sales and rentals. The company seeks to increase the contribution of recurring technology revenue and improve customer retention through scheduling and diagnostic tools and reduced equipment downtime.
In fiscal 2026 Q3, revenue declined 5% year over year to $160.8 million, and gross profit was $47.8 million, equivalent to a gross margin of approximately 29.7%. Net income declined to $15.8 million from $19.5 million, and diluted earnings per share fell to $1.53 from $1.78, while operating income decreased to $18.5 million and operating margin to 11.5% from 14% a year earlier.
Irrigation accounted for approximately 83% of fiscal 2026 Q3 revenue, recording $133 million, down 7%, compared with $27.7 million for infrastructure, up 8%. North American irrigation revenue fell 11% to $61.3 million, and international irrigation revenue declined 4% to $71.7 million due to weakness in Brazil, while irrigation operating margin decreased to 15.3% from 18.9% and infrastructure margin to 19.5% from 21.1%.
Analyst consensus on LNN is neutral, with an average price target of $135 and a range of $128 to $142. The average target is below the 52-week range high of $148, and even the highest target remains below that high, reflecting more conservative expectations than the upper levels the stock recorded during the period. In contrast, the 52-week range extends down to $97.27, a wide spread consistent with the valuation's sensitivity to weaker irrigation demand and margin contraction versus strong liquidity and recovery opportunities in Brazil and infrastructure.
Figures in the text are as of 2026-09-02; the live price is shown at the top of the page.
Revenue declined 5% to $160.8 million, while net income fell to $15.8 million and diluted earnings per share to $1.53. The weakness primarily came from the irrigation segment, whose revenue declined 7% to $133 million due to lower unit volumes in North America and Brazil. Higher input costs and weaker absorption of fixed costs also pressured operating margin, which declined to 11.5% from 14%.
The financing rate for Brazil's 2026/2027 crop plan declined from 12.5% to 11.5%, improving the economics of purchasing irrigation systems. Management does not expect a significant impact in fiscal 2026 Q4, but it may see some previously delayed projects begin to materialize during fiscal 2027 Q1. The recovery remains constrained by the reduction in FINAME financing from approximately 2.75 billion Brazilian reais to 1.7 billion Brazilian reais.
The large project is valued at $80 million, and Lindsay expects to recognize approximately $70 million of it during fiscal 2026. The remaining $10 million is expected to shift to early fiscal 2027, with the possibility of minor changes in delivery timing. Management sees additional opportunities in the region related to investment in food security and water management, but emphasizes that the timing of project awards and deliveries is difficult to predict.
Automated analysis for informational purposes only — not investment advice.
The company uses artificial intelligence models in FieldNET Advisor to determine water requirements based on historical and forecast weather, crop growth stage, and soil type. In SmartPivot, it is exploring machine learning capabilities to detect abnormal behavior in motors and gearboxes before a failure occurs, while TowerWatch improves diagnostics and reduces downtime. Management expects FieldNET and FieldWise to support double-digit growth in technology revenue during fiscal 2026.
Infrastructure revenue increased 8% to $27.7 million in fiscal 2026 Q3, driven by higher sales of road safety products. However, segment operating income was $5.4 million and remained similar to the prior year, while its margin declined to 19.5% from 21.1% because of a lower contribution from the higher-quality Road Zipper business in the mix. Management does not expect a major Road Zipper project during fiscal 2026, despite describing the opportunity pipeline as strong.
Available liquidity was $204.8 million at the end of fiscal 2026 Q3, including $154.8 million in cash and cash equivalents and $50 million available through the revolving credit facility. Capital expenditures during the first nine months of fiscal 2026 reached $35.5 million, alongside investments at the Lindsay, Nebraska, site. After the tube mill entered full production, the company expects to bring the galvanizing facility online in early 2027 and then return capital expenditures to levels that include maintenance and organic growth opportunities supported by strong business cases.
