NYSE : LCLN
Lincoln International, Inc. — Financial statements
Financials · Asset Management · United States
Last price 24.97 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 2.55B
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Financial statements
Lincoln International, Inc. (LCLN) reported revenue of 873.68M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Asset Management Fee | 210.00K | |||||
| Underwriting & Investment Banking Fee | 855.38M | 753.76M | 554.87M | 493.98M | 617.26M | 303.59M |
| Other Revenue | 18.29M | 18.29M | 17.19M | 14.33M | 18.40M | 17.72M |
| Revenue | 873.68M | 772.05M | 572.06M | 508.31M | 635.66M | 321.52M |
| Salaries & Employee Benefits | 483.14M | 384.39M | 284.42M | 242.22M | 224.00M | 137.15M |
| Cost of Services Provided | 127.75M | 108.89M | 96.78M | 82.34M | 54.63M | 44.22M |
| Other Operating Expenses | 45.22M | 15.15M | 18.20M | 5.58M | 9.79M | 8.91M |
| Total Operating Expenses | 712.85M | 546.24M | 413.29M | 337.53M | 292.10M | 192.46M |
| Operating Income | 160.83M | 225.81M | 158.77M | 170.79M | 343.56M | 129.05M |
| Other Non-Operating Income (Expenses) | -9.18M | 3.93M | 10.00M | 7.92M | ||
| EBT Excluding Unusual Items | 151.64M | 229.75M | 168.76M | 178.71M | 343.56M | 129.05M |
| Merger & Restructuring Charges | -9.89M | -9.89M | -1.28M | -6.61M | ||
| Gain (Loss) on Sale of Investments | 580.00K | |||||
| Pretax Income | 141.75M | 219.85M | 167.48M | 172.09M | 344.14M | 129.05M |
| Income Tax Expense | 6.13M | 5.72M | 3.89M | 8.08M | 21.66M | 2.31M |
| Earnings From Continuing Ops. | 135.62M | 214.13M | 163.59M | 164.01M | 322.48M | 126.74M |
| Minority Interest in Earnings | 20.55M | -2.85M | -964.00K | -1.86M | 908.00K | |
| Net Income | 156.16M | 214.13M | 160.74M | 163.05M | 320.61M | 127.65M |
| Net Income to Common | 156.16M | 214.13M | 160.74M | 163.05M | 320.61M | 127.65M |
| Free Cash Flow | 239.20M | 214.44M | 140.73M | 168.12M | 357.89M | 132.30M |
| Operating Margin | 18.41% | 29.25% | 27.75% | 33.60% | 54.05% | 40.14% |
| Profit Margin | 17.87% | 27.74% | 28.10% | 32.08% | 50.44% | 39.70% |
| Free Cash Flow Margin | 27.38% | 27.77% | 24.60% | 33.07% | 56.30% | 41.15% |
| Effective Tax Rate | 4.33% | 2.60% | 2.32% | 4.70% | 6.30% | 1.79% |
| Revenue as Reported | 783.81M | 783.81M | 578.75M | 518.33M | 640.65M | 324.63M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 250.62M | 320.17M | 225.64M | 244.46M | 371.11M | 191.12M |
| Accounts Receivable | 105.82M | 188.81M | 136.05M | 93.15M | 34.34M | 32.88M |
| Other Receivables | 15.00K | 2.62M | 2.14M | 984.00K | 34.58M | 8.74M |
| Property, Plant & Equipment | 164.85M | 175.13M | 173.92M | 176.97M | 130.23M | 98.45M |
| Goodwill | 277.97M | 274.47M | 59.89M | 38.85M | 3.28M | 1.55M |
| Other Intangible Assets | 82.44M | 115.90M | 16.07M | |||
| Restricted Cash | 4.79M | 4.66M | 3.35M | 24.76M | 3.10M | 1.62M |
| Other Current Assets | 24.45M | 17.46M | 10.94M | 9.66M | 6.82M | 4.51M |
| Long-Term Deferred Tax Assets | 74.74M | 9.53M | 5.08M | 3.03M | 328.00K | 1.66M |
| Other Long-Term Assets | 12.08M | 9.39M | 7.09M | 6.50M | 19.16M | 10.56M |
| Total Assets | 997.78M | 1.12B | 640.16M | 598.36M | 602.96M | 351.08M |
| Accounts Payable | 98.14M | 88.48M | 14.26M | 17.66M | 28.69M | 13.79M |
| Accrued Expenses | 127.77M | 158.84M | 108.30M | 70.06M | 76.67M | 47.61M |
| Short-Term Debt | 22.00M | |||||
| Current Portion of Long-Term Debt | 250.00K | 2.75M | ||||
| Current Portion of Leases | 12.16M | 24.31M | 13.74M | |||
| Long-Term Debt | 101.68M | 267.62M | ||||
| Long-Term Leases | 127.73M | 124.53M | 150.00M | 154.60M | 112.79M | 90.16M |
| Long-Term Unearned Revenue | 2.74M | 1.08M | 712.00K | 1.53M | 2.10M | |
| Long-Term Deferred Tax Liabilities | 481.00K | 4.81M | 130.00K | 146.00K | 38.00K | |
| Total Liabilities | 560.47M | 679.53M | 285.74M | 267.86M | 238.36M | 156.43M |
| Common Stock | 431.19M | 350.83M | 329.61M | 358.65M | 189.65M | |
| Total Common Equity | 134.56M | 431.19M | 350.83M | 329.61M | 358.65M | 189.65M |
| Minority Interest | 302.75M | 7.42M | 3.60M | 886.00K | 5.94M | 5.00M |
| Shareholders' Equity | 437.31M | 438.61M | 354.43M | 330.50M | 364.59M | 194.65M |
| Total Liabilities & Equity | 997.78M | 1.12B | 640.16M | 598.36M | 602.96M | 351.08M |
| Total Debt | 241.83M | 419.22M | 150.00M | 176.60M | 126.53M | 90.16M |
| Net Cash (Debt) | 8.80M | -99.05M | 75.63M | 67.86M | 244.58M | 100.96M |
| Working Capital | 54.64M | 249.56M | 248.28M | 260.58M | 326.07M | 174.74M |
| Tangible Book Value | -225.86M | 40.81M | 274.88M | 290.76M | 355.38M | 188.10M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Net Income | 156.16M | 214.13M | 160.74M | 163.05M | 320.61M | 127.65M |
| Depreciation & Amortization, Total | 54.39M | 37.45M | 13.89M | 7.38M | 3.61M | 2.18M |
| Stock-Based Compensation | 8.26M | 6.16M | 2.00M | 1.20M | 3.78M | |
| Change in Accounts Receivable | 27.72M | 1.48M | -55.66M | 7.77M | -243.00K | 6.18M |
| Change in Accounts Payable | 5.82M | 10.55M | 1.68M | -8.39M | 14.13M | 452.00K |
| Change in Other Net Operating Assets | 43.87M | 9.09M | 8.54M | -2.19M | 9.21M | 7.72M |
| Other Operating Activities | -63.36M | -68.44M | 11.92M | 13.30M | 12.15M | 10.47M |
| Operating Cash Flow | 239.83M | 216.32M | 149.34M | 183.68M | 364.33M | 155.25M |
| Capital Expenditures | -624.00K | -1.89M | -8.61M | -15.55M | -6.44M | -22.96M |
| Cash Acquisitions | -230.54M | -230.54M | -5.26M | 4.33M | ||
| Investing Cash Flow | -231.17M | -232.43M | -13.87M | -15.55M | -2.11M | -22.96M |
| Short-Term Debt Issued | 25.20M | 22.00M | ||||
| Long-Term Debt Issued | 275.00M | |||||
| Total Debt Issued | 300.00M | 300.20M | 22.00M | |||
| Short-Term Debt Repaid | -25.20M | -22.00M | ||||
| Long-Term Debt Repaid | -63.00K | |||||
| Total Debt Repaid | -209.70M | -25.26M | -22.00M | |||
| Net Debt Issued (Repaid) | 90.30M | 274.94M | -22.00M | 22.00M | ||
| Issuance of Common Stock | 470.99M | 10.16M | 3.45M | 6.20M | 8.10M | 8.23M |
| Common Dividends Paid | -185.66M | -173.98M | -153.40M | -164.94M | -185.22M | -108.88M |
| Other Financing Activities | -335.43M | -7.01M | ||||
| Financing Cash Flow | 40.20M | 104.11M | -171.94M | -136.75M | -177.12M | -100.65M |
| Foreign Exchange Rate Adjustments | -1.76M | 7.84M | -3.76M | 4.20M | -3.63M | 2.50M |
| Net Cash Flow | 47.09M | 95.84M | -40.23M | 35.58M | 181.47M | 34.15M |
| Free Cash Flow | 239.20M | 214.44M | 140.73M | 168.12M | 357.89M | 132.30M |
| Free Cash Flow Margin | 27.38% | 27.77% | 24.60% | 33.07% | 56.30% | 41.15% |
| Cash Income Tax Paid | 17.10M | 13.21M | 4.38M | 10.37M | 20.25M | 1.59M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.62B | |||||
| Debt / Equity Ratio | 0.55 | 0.96 | 0.42 | 0.53 | 0.35 | 0.46 |
| Debt / FCF Ratio | 1.01 | 1.96 | 1.07 | 1.05 | 0.35 | 0.68 |
| Net Debt / Equity Ratio | -0.02 | 0.23 | -0.21 | -0.20 | -0.67 | -0.52 |
| Net Debt / FCF Ratio | -0.04 | 0.46 | -0.54 | -0.40 | -0.68 | -0.76 |
| Asset Turnover | 0.88 | 0.92 | 1.33 | |||
| Quick Ratio | 1.08 | 1.80 | 2.80 | 3.01 | 3.55 | 3.63 |
| Current Ratio | 1.17 | 1.88 | 2.91 | 3.32 | 3.63 | 3.73 |
| Return on Equity (ROE) | 54.00% | 47.77% | 115.33% | |||
| Return on Assets (ROA) | 24.36% | 26.42% | 67.60% | |||
| Return on Invested Capital (ROIC) | 21.39% | 32.29% | 30.66% | 32.61% | 82.98% | 44.50% |
| Payout Ratio | 1.56% | 81.25% | 95.43% | 101.16% | 57.77% | 85.29% |