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Lineage (LINE) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Lineage
NasdaqGS•Real Estate•REIT - Industrial
$38.17-0.16(<0.01%)Market closed
Market Cap
$8.65B
P/S
1.6x
P/B
1.1x

Lineage, Inc. is the world's largest global temperature-controlled warehouse REIT with a network of 498 strategically located facilities totaling approximately 87 million square feet and approximately 3.1 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific, as of June 30, 2026. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world's largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world. Lineage, Inc. was established in 2015 and was incorporated in Maryland.

C

How this company scores

AverageMetricSide Score: 46/100

Strongest: Cash & Earnings Quality (15/25); weakest: Growth (8/25).

Profitability11/25
Growth8/25
Balance Sheet & Red Flags12/25
Cash & Earnings Quality15/25
Strengths
Rising free cash flowProfit converts from growthImproving margins

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 1.6x5y range 1.3x – 2.0x
P/S 1.6x · near its 6-quarter median

Currently near its 6-quarter median.

P/B · 1.1x5y range 0.9x – 2.7x
P/B 1.1x · near its 9-quarter median

Currently near its 9-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

FCF consistently trails net income (avg -1.1x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume
Market Cap $8.65B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$5.37B
2Q
Q. Revenue
$1.36B
1%
TTM EBITDA
$1.12B
2Q
TTM Op. Income
$192.00M
154%
Q. Op. Income
$54.00M
135%
TTM Net Income
$-171.00M
2Q
Q. Net Income
$-29.00M
383%
EPS
$-0.13
333%
Shares Out.
$228.00M
0%
$5.37B in TTM revenue declined 19.2% YoY, reaching $1.36B last quarter. TTM EBITDA of $1.12B and TTM operating income of $192.00M show growth is flowing through to the bottom line. However, net income is negative at $171.00M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 2 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin
31.2%
3Q
EBITDA Margin
17.3%
2Q
Op. Margin
4.0%
133%
Net Margin
-2.1%
379%
Op. margin of 4.0% is up 2.3% YoY — cost efficiency is improving. Net margin at -2.1% and gross margin of 31.2% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 133% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
N/A
P/S Ratio
1.6x
7%
P/B Ratio
1.1x
5%
P/S of 1.6x and P/B of 1.1x. P/S is low relative to typical market levels.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$18.90B
4Q
Cash
$58.00M
29%
Long-Term Debt
$6.22B
8%
Book Value
$7.89B
4Q
D/E Ratio
0.8
7Q
Debt/EBITDA
26.4
2Q
With $18.90B in assets and $6.22B in long-term debt, D/E is 0.8and book value is $7.89B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has risen for 7 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$311.00M
21%
TTM Free Cash Flow
$244.00M
45%
FCF Margin
4.5%
80%
FCF / Net Income
-1.4
410%
TTM FCF of $244.00M on $311.00M in operating cash flow. The FCF / Net Income ratio of -1.4x means the business consumes cash — it is not yet self-funding. Over the past year, free cash flow is up 45% — an improving trend.

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Cash Burn

Watch

FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.

Share Dilution

Red Flag

Shares outstanding increased 8.6% — significant dilution, likely from stock compensation or capital raises.