Lincoln International Inc. (LCLN) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+257.4%

$92.53

vs $25.89 price

Levered DCF

$99.90

After debt service

Piotroski score

—

Altman Z-score

—

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023
P/E	10.72×	4.67×	4.61×
P/B	5.33×	2.14×	0×
P/S	2.93×	1.3×	1.45×
EV / EBITDA	9.28×	3.9×	3.98×
Gross margin	87.1%	69.8%	70.4%
Operating margin	27.5%	27.4%	31.7%
Net margin	27.3%	27.8%	31.5%
Current ratio	21.24×	18.5×	3.3×
Debt / equity	0.97×	0.43×	0×
Interest coverage	0×	0×	0×
Dividend yield	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023
Return on equity	49.7%	45.8%	0.0%
Return on invested capital	18.8%	24.2%	30.9%
Return on assets	19.2%	25.1%	27.2%
Free cash flow yield	9.3%	18.8%	22.4%
Earnings yield	9.3%	21.4%	21.7%
Enterprise value	$2.4B	$671.3M	$682.4M
Net debt / EBITDA	0.37×	-0.46×	-0.4×
Cash conversion cycle (days)	-230	57	24