Lincoln Pharmaceuticals Limited (LINCOLN) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Lincoln Pharmaceuticals Limited ₹640, price ₹582, upside +10.0%, quality 58 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
60‑month range ₹260.67 – ₹950.63 · fair‑value band ₹416.24 – ₹953.58 · the ₹582.05 price screens below the ₹640.26 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.
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Lincoln Pharmaceuticals Limited engages in manufacturing and trading of pharmaceutical products in India.
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Lincoln Pharmaceuticals Limited engages in manufacturing and trading of pharmaceutical products in India. The company offers products in the areas of anticold, antibiotic, otolaryngology, pain management, gastro, anti-malarial, anti-fungal, corticosteroids and cosmo-derma, anti-diabetic, anti-hypertensive, gynecology, cardio and CNS, respiratory system, and dyslipidemic; and branded generics. It also exports its products to approximately 60 countries, including Europe, Canada, Latin and North America, Africa, the Asia Pacific, and South East Asia. Lincoln Pharmaceuticals Limited was incorporated in 1979 and is based in Ahmedabad, India.
Stock analysis
Lincoln Pharmaceuticals Limited (LINCOLN) currently trades at ₹582.05, while our model-based Fair Value estimate is ₹640.26, implying the stock looks roughly 9.1% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹768.72 per share, and 13 of the 26 models we run sit above the ₹582.05 price.
Bear case: the Economic Profit group reads lowest at ₹237.79, and 13 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹416.24 (bear) to ₹953.58 (bull), the price of ₹582.05 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 58/100 (solid quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Lincoln Pharmaceuticals Limited reported revenue of ₹6.7B in FY2026 versus ₹4.7B in FY2022, a compound +9.4%/yr. Reported net income was ₹879M in FY2026, compounding +6.1%/yr from FY2022.
Key figures
Market cap ₹11.7B (≈ $121M) · P/E ratio 13.3 · P/S ratio 1.74 · EPS (TTM) ₹43.86 · Dividend yield 0.3% · Net margin 13.1% · Return on equity 12.3% · Return on assets (EBIT) 15.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 23% below its 52-week high and 31% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −19% fair-value upside, at 10%, LINCOLN screens cheaper than that median.
Fair Value models
Bear ₹416.24Fair Value ₹640.26Bull ₹953.58
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.91/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+7.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.1%
Start year 2021 (pandemic). Over 10 years: +5.3% a year
Revenue growth 20 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.3%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+7.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.1%
Dividend (yield on the price)0.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.7.1% vs 12.0%, slowing
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.17% → 12%
Start year 2021 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+7.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +3.3% a year for the price.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Drug Manufacturers - Specialty & Generic · 599 stocks
Beats the industry median on 12/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside+11.7% · Above median
Profitability
Return on equity (TTM)12.3% · Above median
Return on assets6.2% · Above median
Net margin (TTM)13.1% · Above median
Operating margin (TTM)11.3% · Above median
Growth and dividend
Revenue growth11.4% · Above median
Dividend yield (TTM)0.3% · Bottom 25%
Valuation Multiplesvs Drug Manufacturers - Specialty & Generic median · lower = cheaper
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Is Lincoln Pharmaceuticals Limited (LINCOLN) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of ₹640.26 versus a price of ₹582.05, about +10% upside (undervalued).
What is the fair value of LINCOLN?
Our model-based fair value for Lincoln Pharmaceuticals Limited is ₹640.26 (as of Oct 3, 2026), built from audited fundamentals. The current price: ₹582.05.
What is the quality score of LINCOLN?
Lincoln Pharmaceuticals Limited has a Quality Score of 58/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Lincoln Pharmaceuticals Limited (LINCOLN)?
Our model-based price target is the fair value of ₹640.26 (as of Oct 3, 2026) from 26 valuation models. Cautious scenario ₹416.24, optimistic scenario ₹953.58. It is a calculation from audited fundamentals, not an analyst target.
What is the Lincoln Pharmaceuticals Limited stock forecast for 2026?
Our models put fair value at ₹640.26, about +10% upside versus a price of ₹582.05 (undervalued). Cautious scenario ₹416.24, optimistic scenario ₹953.58. The calculation is refreshed regularly with new filings.
What is the revenue of Lincoln Pharmaceuticals Limited (LINCOLN)?
Lincoln Pharmaceuticals Limited reported trailing-twelve-month revenue of about ₹6.7B (latest available figure, as of Oct 3, 2026).
Does Lincoln Pharmaceuticals Limited pay a dividend?
Lincoln Pharmaceuticals Limited currently shows a dividend yield of about 0.31% relative to its recent price (as of Oct 3, 2026).
What growth is priced into Lincoln Pharmaceuticals Limited (LINCOLN)?
For today's price to be fair in a discounted-cash-flow model, Lincoln Pharmaceuticals Limited would have to grow free cash flow by +7.6 % per year for five years (discount rate 13.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.1 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of LINCOLN use?
Our models discount Lincoln Pharmaceuticals Limited at 13.9 %: a base by market capitalisation (micro), damped by beta 0.36, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Lincoln Pharmaceuticals Limited that is +7.6 % per year a year over ten years, using the same discount rate (13.9 %) and the same formula as our fair value.
How much growth has Lincoln Pharmaceuticals Limited (LINCOLN) delivered so far?
Over the past 5 years revenue at Lincoln Pharmaceuticals Limited grew +10.1 % a year. The price currently implies +7.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Lincoln Pharmaceuticals Limited (LINCOLN) growing?
The median revenue growth in the sector is +5.1 % a year. That is the yardstick for the growth priced into Lincoln Pharmaceuticals Limited (+7.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Lincoln Pharmaceuticals Limited (LINCOLN)?
The free-cash-flow yield on the price is 6.99 %: that much free cash flow Lincoln Pharmaceuticals Limited produces per unit of market value. When it exceeds the discount rate of our models (13.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Lincoln Pharmaceuticals Limited (LINCOLN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Lincoln Pharmaceuticals Limited it is ₹640.26 per share (as of Oct 3, 2026), against a price of ₹582.05. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Lincoln Pharmaceuticals Limited stock overvalued or undervalued in 2026?
As of Oct 3, 2026, LINCOLN trades below its calculated fair value: price ₹582.05, fair value ₹640.26, a gap of about +10% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of LINCOLN?
No. The price is what the market pays today (₹582.05); the fair value is what the company's own numbers justify (₹640.26). For Lincoln Pharmaceuticals Limited the two are ₹58.21 per share apart. That gap is exactly why we show both numbers side by side.
How much is Lincoln Pharmaceuticals Limited worth?
The market values Lincoln Pharmaceuticals Limited at about ₹11.7B (market capitalisation, as of Oct 3, 2026). Per share that is ₹582.05; our models calculate a fair value of ₹640.26 per share.
What do the bullish and bearish scenarios say about LINCOLN?
Our models span a range for Lincoln Pharmaceuticals Limited: cautious scenario ₹416.24, base ₹640.26, optimistic ₹953.58 per share (as of Oct 3, 2026, price ₹582.05). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of LINCOLN?
Lincoln Pharmaceuticals Limited trades at a price-to-earnings ratio of 13.3 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹640.26 is built from several models across several years. Other multiples: P/B 1.5, P/S 1.7, EV/EBITDA 11.6.
How solid is the balance sheet of Lincoln Pharmaceuticals Limited (LINCOLN)?
Balance-sheet figures for Lincoln Pharmaceuticals Limited (as of Oct 3, 2026): return on equity 12.3%. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is LINCOLN from its 52-week high?
Lincoln Pharmaceuticals Limited trades at ₹582.05, about 23% below its 52-week high of ₹758.15 and 31% above the low of ₹444.20 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹640.26 is for.
Which stocks are comparable to Lincoln Pharmaceuticals Limited?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Teva Pharmaceutical Industries Limited, Sun Pharmaceutical Industries Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Lincoln Pharmaceuticals Limited stock attractive at the current price?
The data as of Oct 3, 2026: price ₹582.05, calculated fair value ₹640.26 (+10%), Quality Score 58/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of LINCOLN calculated?
We run Lincoln Pharmaceuticals Limited through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹640.26, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Lincoln Pharmaceuticals Limited currently trades 9 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Lincoln Pharmaceuticals Limited (LINCOLN)?
The closing price on Oct 1, 2026 was ₹582.05. Our model-based fair value is ₹640.26, about +10% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Lincoln Pharmaceuticals Limited right now?
A fairly wide model range (₹416.24 to ₹953.58) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Lincoln Pharmaceuticals Limited (LINCOLN) come from?
Earnings per share at Lincoln Pharmaceuticals Limited grew +14.3 % a year from 2015 to 2026. Broken into its drivers: revenue per share +5.1 %, EBIT margin +3.5 %, tax rate +0.3 %, residual (interest, one-offs) +4.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Lincoln Pharmaceuticals Limited
How large is the market capitalisation of Lincoln Pharmaceuticals Limited (LINCOLN)?
The market capitalisation of Lincoln Pharmaceuticals Limited is ₹11.7B (≈ $121M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Lincoln Pharmaceuticals Limited (LINCOLN)?
The price-to-sales ratio of Lincoln Pharmaceuticals Limited is 1.74 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Lincoln Pharmaceuticals Limited (LINCOLN)?
Earnings per share at Lincoln Pharmaceuticals Limited are ₹43.86 (price ÷ EPS = P/E 13.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Lincoln Pharmaceuticals Limited (LINCOLN)?
The dividend yield of Lincoln Pharmaceuticals Limited is 0.3% (payout 4.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Lincoln Pharmaceuticals Limited (LINCOLN)?
The net margin of Lincoln Pharmaceuticals Limited is 13.1% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Lincoln Pharmaceuticals Limited (LINCOLN)?
The return on equity (ROE) of Lincoln Pharmaceuticals Limited is 12.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Lincoln Pharmaceuticals Limited (LINCOLN)?
On an EBIT basis the return on assets of Lincoln Pharmaceuticals Limited is 15.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Lincoln Pharmaceuticals Limited (LINCOLN)?
The operating margin of Lincoln Pharmaceuticals Limited is 11.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Lincoln Pharmaceuticals Limited (LINCOLN)?
Revenue at Lincoln Pharmaceuticals Limited is growing +11.4% versus a year earlier (3y avg +9.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Lincoln Pharmaceuticals Limited (LINCOLN)?
Earnings per share at Lincoln Pharmaceuticals Limited are growing +0.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Lincoln Pharmaceuticals Limited (LINCOLN) hold?
Lincoln Pharmaceuticals Limited holds more cash than debt, ₹282M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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