Lineage, Inc. (LINE) 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

-134.7%

-$12.80

vs $36.89 price

Levered DCF

$15.88

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

0.62

Distress zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
P/E	-81.4×	-15.83×	-218.32×	-269.27×	-110.66×
P/B	0.97×	1.3×	3.36×	3.3×	3.92×
P/S	1.49×	2.09×	3.18×	3.46×	4.6×
EV / EBITDA	15.81×	32.71×	22.59×	28.22×	41.75×
Gross margin	15.4%	33.0%	32.8%	29.5%	30.5%
Operating margin	4.7%	6.8%	-7.5%	-6.0%	2.4%
Net margin	-1.8%	-12.4%	-1.4%	-1.3%	-4.1%
Current ratio	0.8×	0.86×	0.92×	1.15×	1.19×
Debt / equity	1.05×	0.8×	2.19×	2.07×	2.21×
Interest coverage	0.94×	0.67×	-0.68×	-0.77×	0.37×
Dividend yield	6.7%	2.1%	0.3%	1.1%	0.9%
Payout ratio	-548.0%	-35.2%	-59.7%	-285.7%	-96.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
Return on equity	-1.2%	-7.7%	-1.5%	-1.2%	-3.5%
Return on invested capital	1.4%	1.9%	-2.0%	-1.7%	0.5%
Return on assets	-0.5%	-3.6%	-0.4%	-0.3%	-0.9%
Free cash flow yield	2.5%	0.1%	0.2%	-1.8%	-2.1%
Earnings yield	-1.2%	-5.9%	-0.5%	-0.4%	-0.9%
Enterprise value	$16.6B	$17.9B	$28B	$27.5B	$26.4B
Net debt / EBITDA	8.2×	12.26×	8.87×	10.78×	14.85×
Cash conversion cycle (days)	-16	-49	-36	-28	-26