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STOCK COMPARISON

Booking Holdings vs Lindblad Expeditions Holdings: Fair Value & Quality

Both stocks run through our valuation models. Here is how Booking Holdings (BKNG) and Lindblad Expeditions Holdings (LIND) compare, as of Sep 24, 2026.

As of Sep 24, 2026, Fair Value Calculator sees Booking Holdings as the more attractively valued of the two: Booking Holdings trades at $156 versus a fair value of $187 (+20%), while Lindblad Expeditions Holdings trades at $27.23 versus $17.44 (-36%).
Booking Holdings
BKNG · USD · Consumer Discretionary
+20%
upside to fair value
undervalued
Price$156
Fair Value$187
Quality87/100
Lindblad Expeditions Holdings
LIND · USD · Consumer Discretionary
-36%
upside to fair value
overvalued
Price$27.23
Fair Value$17.44
Quality44/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Booking HoldingsLindblad Expeditions Holdings
Valuation
20.5×P/E (TTM)n/a
5.12×P/S (TTM)2.11×
Negative equityP/BNegative equity
13.6×EV/EBITDA17.1×
0.75×PEGn/a
+20.0%Fair value upside−36.0%
1.0%Dividend yield0.3%
$1.58Dividend per sharen/a
Profitability
25%Operating margin8%
Negative equityReturn on equityNegative equity
22%Return on assets4%
Growth
16%Revenue growth (YoY)16%
16.3%Avg. growth/yr (3Y)22.3%
31.7%Avg. growth/yr (5Y)56.4%
+44.4%Value creation/yrn/a
Balance & size
5.7×Interest coverage (EBIT/interest)1.0×
Negative equityDebt / equityNegative equity
$142BMarket cap$2B
healthyGrowth qualitymixed

Booking Holdings leads: 7 to 3 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Booking Holdingsof which business quality 84 · market factors 30 Lindblad Expeditions Holdingsof which business quality 44 · market factors 62
ProfitabilityMargins and returns on capital today
87
30
Quality GrowthAre margins and returns improving?
43
52
CashflowEarnings quality: real cash, not paper profit
96
47
Fin. StrengthBalance sheet, leverage, solvency risk
83
24
InvestmentDisciplined investing over empire-building
92
70
Low VolatilityCalm price path (market factor)
53
11
MomentumPrice trend over the last 3–12 months (market factor)
30
84
52W MomentumDistance to the 52-week high (market factor)
3
84
Net IssuanceShare count: buybacks or dilution?
100
62

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyBooking HoldingsPrice $156Lindblad Expeditions HoldingsPrice $27.23
DCF Models+76%above the price$274-15%close to the price$23.18
Earnings-Based-16%below the price$132n/a
Dividend Discount-82%below the price$28.34-97%below the price$0.95
Multiples-2%close to the price$153-77%below the price$6.29
Growth DCF+68%above the price$262-23%below the price$20.99
Economic Profit-27%below the price$113-92%below the price$2.23
Growth Earnings+20%above the price$187n/a
Minimum-82%below the price$28.34-97%below the price$0.95
Maximum+76%above the price$274-15%close to the price$23.18
Median-2%close to the price$153-77%below the price$6.29
Geometric mean-13%close to the price$136-79%below the price$5.78

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Booking Holdings: 11 of 23 models see the stock below the current price.

Lindblad Expeditions Holdings: 11 of 13 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Booking Holdings
Price $156
Fair Value $187
Bear $131Bull $243
Lindblad Expeditions Holdings
Price $27.23
Fair Value $17.44
Bear $9.22Bull $32.81

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Booking Holdings · Consumer Discretionary

Quality score87 · Top 25%
Fair value upside+20% · above median

Lindblad Expeditions Holdings · Consumer Discretionary

Quality score44 · bottom 25%
Fair value upside-36% · below median

Bottom line

As of Sep 24, 2026, Fair Value Calculator sees Booking Holdings as the more attractively valued of the two: Booking Holdings trades at $156 versus a fair value of $187 (+20%), while Lindblad Expeditions Holdings trades at $27.23 versus $17.44 (-36%).

Booking Holdings has the higher quality score (87/100).

Open Booking Holdings live analysis →
Booking Holdings · Lindblad Expeditions Holdings

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.