Lindblad Expeditions Holdings Inc (LIND) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Lindblad Expeditions Holdings Inc stock $18.49, price $33.98, that is 45.6% below the price, quality 35 out of 100. Rating: strongly overvalued. Calculated from audited financials with 12 of our 26 valuation models and 37 quality factors, updated daily.
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Lindblad Expeditions Holdings Inc
LIND · USOur calculation puts a fair price 46% below what the stock costs today.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range $5.80 – $37.38 · fair‑value band $8.59 – $36.15 · the $33.98 price screens above the $18.49 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 6, 2026.
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Company profile
Lindblad Expeditions Holdings, Inc. provides marine expedition adventures and travel experience worldwide. It operates through Lindblad and Land Experiences segments.
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The Lindblad segment provides ship-based expeditions aboard customized, nimble, and intimately-scaled vessels, which offers up-close experiences in the planet's wild and remote places, and capitals of culture; and offers expedition ship which is equipped with state-of-the-art tools for in-depth exploration with infrastructure and ports, such as Antarctica and the Arctic, and places that accessed by a ship comprising Galápagos Islands, Alaska, Baja California's Sea of Cortez and Panama, and foster engagement activities.
The Land Experiences segment comprises natural habitats, which provides various expedition itineraries in more than 45 countries across seven continents, with eco-conscious expeditions and nature-focused, and small-group tours including polar bear tours and bear adventure; and DuVine provides intimate group cycling and adventure tours around the world with local cycling experts as guides in local cultural, cuisine, and accommodations.
This segment also offers off the beaten path, including small group travel, led by local, and experienced guides with focus on wildlife, hiking national parks, and culture; and classic journey, a curated active small-group and private custom journeys centered around cinematic walks led by expert local guides over 50 countries across the world.
In addition, it collaborates with National Geographic on expedition planning and to enhance the guest experience by having National Geographic experts, including photographers, writers, marine biologists, naturalists, field researchers and film crews; and partnered with World Wildlife Fund to offer conservation travel.
Lindblad Expeditions Holdings, Inc. was founded in 1979 and is headquartered in New York, New York.
Stock analysis
Lindblad Expeditions Holdings Inc (LIND) currently trades at $33.98, while our model-based Fair Value estimate is $18.49, 46% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $19.44 per share, and 0 of the 12 models we run sit above the $33.98 price.
Bear case: the Multiples group reads lowest at $6.27, and 12 of the 12 models stay below the price. Data coverage for this calculation is low.
Scenario range: $8.59 (bear) to $36.15 (bull), the price of $33.98 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 35/100 (below-average quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Lindblad Expeditions Holdings Inc reported revenue of $771M in FY2025 versus $147M in FY2021, a compound +51.3%/yr. Reported net income was −$29.7M in FY2025.
Key figures
Market cap $2.2B Mid · P/S ratio 2.41 · EPS (TTM) $−0.0100 · Net margin 0.7% · Return on equity −1,947% · Return on assets (EBIT) −2.6% (5-year average) · Operating margin 16.6% · Revenue (TTM) $860M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 29 out of 100 (medium confidence).
What moves the price
The share trades about 9% below its 52-week high and 197% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 13% fair-value upside, at −46%, LIND screens richer than that median.
Fair Value models
All 12 models by family
The fair value above starts from this blend and is adjusted for dilution from new shares.
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Insider trades
In the last 6 months, 5 officers or directors sold shares worth $30.6M and none bought.
- SaleSven-Olof LindbladDirector, 10% owner11× since Jan 20, 2026: 1,750,000 shares, avg. $24.70$43.2MOct 29, 202610b5-1 plan
- SaleMichael Elliott BisnowDirector44,642 shares at $24.21$1.1MJun 17, 2026
- SaleL. Dyson DrydenDirector2× since May 29, 2026: 92,693 shares, avg. $22.64$2.1MJun 4, 2026
- SaleJohn M Fahey JrDirector4× since Mar 10, 2026: 15,268 shares, avg. $18.77$286,643May 21, 2026
- SaleTrey ByusChief Expedition Officer2× since May 11, 2026: 36,460 shares, avg. $20.18$735,786May 21, 2026
- SaleJr. Thomas S. SmithDirector56,000 shares at $17.57$983,920Mar 9, 2026
- SaleBenjamin Bressler*Founder & CEO of NHA7× since Dec 22, 2025: 782,351 shares, avg. $16.77$13.1MFeb 5, 202610b5-1 plan
Plus 16 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Source: SEC Form 4, as of Nov 6, 2026. All filings at the SEC ↗
Revenue & earnings trend
Growth Forecast
LIND screens overvalued: fair value 46% below the price. Compare with Booking Holdings →
Compare Lindblad Expeditions Holdings Inc with another stock
Price, fair value, quality and upside side by side.
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.Travel Services · 87 stocks
Valuation Multiplesvs Travel Services median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.
Context: sector, industry, market
- Is the Consumer Discretionary sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Debt-to-equity by industry
- Price/FCF by industry
- Piotroski F-Score screener with fair value
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Travel Services stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Trip.com Group 9961 | HK$350.40 | HK$682.74 | +95% | vs LIND |
| Carnival Corporation CCL | $29.58 | $37.36 | +26% | vs LIND |
| Expedia Group EXPE | $259.24 | $299.73 | +16% | vs LIND |
| Booking Holdings BKNG | $160.67 | $185.59 | +16% | vs LIND |
| Norwegian Cruise Line Holdings NCLH | $17.92 | $20.27 | +13% | vs LIND |
| Airbnb, Inc ABNB | $189.99 | $208.99 | +10% | vs LIND |
| Viking Holdings VIK | $87.48 | $96.23 | +10% | vs LIND |
| MakeMyTrip Limited MMYT | $51.10 | $34.50 | −32% | vs LIND |
| Royal Caribbean Cruises Ltd RCL | $327.16 | $206.34 | −37% | vs LIND |
| Travel + Leisure Co TNL | $75.33 | $36.58 | −51% | vs LIND |
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Key figures of Lindblad Expeditions Holdings Inc
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