LINE Lineage, Inc. - Common Stock
$41.23
Price · Aug 18, 2026
Fundamentals as of Aug 5, 2026
52W Range
$31–$46
69% of range
Analyst Rating
HOLD
26 analysts
Price Target
$45
+9% upside
P/E (TTM)
-95.9
ROE
-1.2%
Net Profit Margin
-1.9%
LINE Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$41.23
Market Cap
$9.36B
P/E (TTM)
-95.9
EPS (TTM)
$-0.43
Revenue (TTM)
$5.36B
Div Yield
5.7%
ROE
-1.2%
Debt/Equity
0.7
52W Range
$31 – $46
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$5.36B
2022-12-31
→
2025-12-31
EPS
$-0.43
2022-12-31
→
2025-12-31
Free Cash Flow
$196M
2024-12-31
→
2025-12-31
Margins
-1.9%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
LINE
Peer Median
P/E (TTM)
-95.9
30.8
P/S (TTM)
1.7
9.5
P/B
1.1
1.5
Price / FCF
47.8
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
LINE
Peer Median
Operating Margin
3.4%
—
Net Profit Margin
-1.9%
34.0%
ROA
-0.53%
3.6%
ROE
-1.2%
6.7%
ROIC
1.2%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
LINE
Peer Median
Debt / Equity
0.7
—
Current Ratio
0.8
0.6
Quick Ratio
0.6
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
LINE
Peer Median
Revenue YoY
0.28%
—
Revenue CAGR 3Y
2.8%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
LINE
Peer Median
Payout Ratio
-537.0%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
5.7%
Payout Ratio
-537.0%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| June 30, 2026 | $0.5330 |
| March 31, 2026 | $0.5330 |
| Dec. 31, 2025 | $0.5280 |
| Sept. 30, 2025 | $0.5280 |
| June 30, 2025 | $0.5280 |
| March 31, 2025 | $0.5280 |
| Dec. 31, 2024 | $0.5280 |
| Sept. 30, 2024 | $0.3800 |
LINE Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
HOLD
26 analysts
- Strong Buy 3 11.5%
- Buy 8 30.8%
- Hold 11 42.3%
- Sell 4 15.4%
- Strong Sell 0 0.0%
12-Month Price Target
19 analysts · 2026-08-18
Median
$45.00
Now
$41.23
Low
$35.00
High
$63.00
Median target
$45.00
+9.1%
Mean target
$45.11
+9.4%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.03%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.13 | $-0.13 | -0.00% |
| March 31, 2026 | $-0.18 | $-0.14 | -0.04% |
| Dec. 31, 2025 | $0.09 | $-0.13 | 0.22% |
| Sept. 30, 2025 | $-0.36 | $-0.07 | -0.29% |
| June 30, 2025 | $-0.08 | $-0.05 | -0.03% |
| March 31, 2025 | $-0.09 | $-0.06 | -0.02% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| LINE | $7.95B | -81.4 | 0.28% | -1.9% | -1.2% | — |
| PLD | $118.62B | 35.9 | 7.2% | 37.9% | 6.2% | — |
| EGP | $9.50B | 36.6 | 12.7% | 35.7% | 7.6% | — |
| FR | $7.59B | 30.6 | 8.6% | 34.0% | 9.3% | — |
| REXR | $8.97B | 45.0 | 7.1% | 21.1% | 2.5% | — |
| TRNO | $6.08B | 15.0 | 24.5% | 84.6% | 10.0% | — |
| STAG | $7.02B | — | 10.1% | 32.4% | 7.8% | — |
| COLD | $3.66B | -32.1 | -2.4% | -4.4% | -3.7% | — |
| LXP | $2.93B | 27.2 | -2.3% | 32.3% | 5.5% | — |
| IIPR | $1.33B | 12.1 | -13.8% | 44.5% | 6.3% | — |
| ILPT | $369M | -5.5 | — | — | -12.6% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | $5.36B | $5.34B | $5.34B | $4.93B | |
| Cost of Revenue | $3.63B | $3.58B | $3.59B | $3.47B | |
| SG&A Expense | $574M | $539M | $502M | $399M | |
| Operating Expenses | $5.17B | $5.70B | $4.94B | $4.63B | |
| Operating Income | $181M | $-361M | $398M | $297M | |
| Interest Income | $8M | $12M | $6M | $3M | |
| Other Non-op | $-50M | $-1M | $-19M | $2M | |
| Pretax Income | $-115M | $-840M | $-110M | $-70M | |
| Income Tax | $-2M | $-89M | $-14M | $6M | |
| Net Income | $-100M | $-664M | $-77M | $-63M | |
| EPS (Basic) | $-0.43 | $-3.70 | $-0.73 | $-0.51 | |
| EPS (Diluted) | $-0.43 | $-3.70 | $-0.73 | $-0.51 | |
| Shares (Basic) | 228,000,000 | 191,000,000 | 162,000,000 | 152,000,000 | |
| Shares (Diluted) | 228,000,000 | 191,000,000 | 162,000,000 | 152,000,000 | |
| EBITDA | $1.08B | $515M | · | · |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Cash & Equivalents | · | $173M | $68M | · | |
| Receivables | $896M | $826M | $913M | · | |
| Inventory | $145M | $187M | $171M | · | |
| Prepaid Expense | $132M | $97M | $101M | · | |
| Other Current Assets | $53M | $39M | $9M | · | |
| Current Assets | $1.24B | $1.28B | $1.26B | · | |
| PP&E (Net) | $11.34B | $10.63B | $10.57B | · | |
| PP&E (Gross) | · | · | $12.40B | · | |
| Accum. Depreciation | $3.54B | $2.85B | $2.27B | · | |
| Goodwill | $3.47B | $3.34B | $3.39B | $3.31B | |
| Intangibles | $1.09B | $1.13B | $1.28B | · | |
| Other Non-current Assets | $204M | $279M | $290M | · | |
| Total Assets | $19.18B | $18.66B | $18.87B | · | |
| Accounts Payable | $1.33B | $1.22B | $1.14B | · | |
| Current Liabilities | $1.55B | $1.49B | $1.36B | · | |
| Capital Leases | $599M | $605M | $692M | · | |
| Deferred Tax | $303M | $304M | $370M | · | |
| Other Non-current Liabilities | $169M | $410M | $159M | · | |
| Total Liabilities | $9.94B | $8.97B | $12.85B | · | |
| Long-term Debt | $6.11B | $4.96B | $8.98B | · | |
| Total Debt | $6.11B | $4.96B | · | · | |
| Common Stock | $2M | $2M | $2M | · | |
| Retained Earnings | $-2.44B | $-1.85B | $-879M | · | |
| AOCI | $-97M | $-273M | $-34M | · | |
| Stockholders' Equity | $8.25B | $8.64B | $5.05B | · | |
| Liabilities + Equity | $19.18B | $18.66B | $18.87B | · | |
| Shares Outstanding | 227,000,000 | 228,000,000 | 162,000,000 | 160,000,000 |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| D&A | $895M | $876M | $760M | $678M | |
| Stock-based Comp | $126M | $215M | $26M | $17M | |
| Deferred Tax | $-16M | $-105M | $-58M | $-42M | |
| Amort. of Intangibles | $115M | $116M | $115M | $109M | |
| Other Non-cash | $38M | $381M | · | · | |
| Operating Cash Flow | $943M | $703M | $796M | $501M | |
| CapEx | $747M | $691M | $766M | $813M | |
| Investing Cash Flow | $-1.07B | $-919M | $-1.07B | $-2.37B | |
| Debt Issued | $1.30B | $2.48B | $0 | $946M | |
| Net Debt Issued | $1.30B | $2.48B | · | · | |
| Stock Repurchased | $82M | $42M | $12M | $0 | |
| Net Stock Activity | $-82M | $-25M | · | · | |
| Dividends Paid | $537M | $234M | $46M | $180M | |
| Financing Cash Flow | $14M | $320M | $136M | $1.84B | |
| Net Change in Cash | $-109M | $104M | $-131M | $-38M | |
| Taxes Paid | $26M | $36M | $31M | $74M | |
| Free Cash Flow | $196M | $12M | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Operating Margin | 3.4% | -6.8% | · | · | |
| Net Margin | -1.9% | -12.4% | · | · | |
| Pretax Margin | -2.1% | -15.7% | · | · | |
| EBITDA Margin | 20.1% | 9.6% | · | · | |
| ROA | -0.53% | -3.5% | · | · | |
| ROE | -1.2% | -9.7% | · | · | |
| ROIC | 1.2% | -2.4% | · | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Current Ratio | 0.8 | 0.9 | · | · | |
| Quick Ratio | 0.6 | 0.7 | · | · | |
| Debt / Equity | 0.7 | 0.6 | · | · | |
| LT Debt / Equity | 0.7 | 0.6 | · | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.3 | · | · | |
| Inventory Turnover | 21.9 | 20.0 | · | · | |
| Receivables Turnover | 6.2 | 6.1 | · | · |
Growth Rates 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue YoY | 0.28% | -0.04% | 8.4% | · | |
| Revenue CAGR 3Y | 2.8% | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue TTM | $5.36B | $5.34B | · | · | |
| Net Income TTM | $-100M | $-664M | · | · | |
| Market Cap | $7.95B | $13.35B | · | · | |
| Enterprise Value | · | $18.14B | · | · | |
| P/E | -81.4 | -15.8 | · | · | |
| P/S | 1.5 | 2.5 | · | · | |
| P/B | 1.0 | 1.5 | · | · | |
| P / Tangible Book | 2.2 | 3.2 | · | · | |
| P / Cash Flow | 8.4 | 19.0 | · | · | |
| P / FCF | 40.5 | 1112.8 | · | · | |
| EV / EBITDA | · | 35.2 | · | · | |
| EV / FCF | · | 1511.9 | · | · | |
| EV / Revenue | · | 3.4 | · | · | |
| Dividend Yield | 6.8% | 1.8% | · | · | |
| Earnings Yield | -1.2% | -6.3% | · | · | |
| Payout Ratio | -537.0% | -35.2% | · | · | |
| Annual Payout | $537M | $234M | · | · |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.36B | $1.30B | $1.34B | $1.38B | $1.35B | $1.29B | $1.34B | $1.33B | $1.34B | $1.33B | $1.33B | $1.33B | |
| Cost of Revenue | $936M | $880M | $906M | $932M | $920M | $876M | $906M | $897M | $891M | $884M | $896M | $899M | |
| SG&A Expense | $138M | $141M | $132M | $145M | $143M | $154M | $145M | $143M | $127M | $124M | $141M | $122M | |
| Operating Expenses | $1.31B | $1.26B | $1.27B | $1.34B | $1.33B | $1.24B | $1.36B | $1.85B | $1.26B | $1.23B | $1.28B | $1.23B | |
| Operating Income | $54M | $36M | $67M | $35M | $23M | $56M | $-21M | $-515M | $74M | $101M | $58M | $97M | |
| Interest Income | $1M | $2M | $2M | $2M | $2M | $2M | $3M | $7M | $1M | $1M | $2M | $0 | |
| Other Non-op | $0 | $1M | $54M | $-57M | $1M | $0 | $157M | $1M | $0 | $-159M | $0 | $-19M | |
| Income Tax | $-1M | $4M | $-14M | $11M | $-7M | $8M | $-41M | $-45M | $7M | $-10M | $-6M | $-5M | |
| Net Income | $-29M | $-46M | $6M | $-100M | $-6M | $0 | $-71M | $-485M | $-68M | $-40M | $-51M | $-39M | |
| EPS (Basic) | $-0.13 | $-0.18 | $0.03 | $-0.44 | $-0.03 | $0.01 | $-0.52 | $-2.44 | $-0.46 | $-0.28 | $-0.43 | $-0.26 | |
| EPS (Diluted) | $-0.13 | $-0.18 | $0.03 | $-0.44 | $-0.03 | $0.01 | $-0.52 | $-2.44 | $-0.46 | $-0.28 | $-0.43 | $-0.26 | |
| Shares (Basic) | 228,000,000 | 227,000,000 | -457,000,000 | 228,000,000 | 229,000,000 | 228,000,000 | -343,000,000 | 210,000,000 | 162,000,000 | 162,000,000 | 0 | 162,000,000 | |
| Shares (Diluted) | 228,000,000 | 227,000,000 | -457,000,000 | 228,000,000 | 229,000,000 | 228,000,000 | -343,000,000 | 210,000,000 | 162,000,000 | 162,000,000 | 0 | 162,000,000 | |
| EBITDA | $54M | $269M | · | $35M | $23M | $268M | · | $-515M | $74M | · | · | · |
Balance Sheet 27
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | · | · | · | · | · | · | · | $409M | $73M | · | · | · | |
| Receivables | $920M | $917M | $896M | $857M | $891M | $847M | $826M | $901M | $954M | · | · | · | |
| Inventory | $122M | $137M | $145M | $167M | $174M | $175M | $187M | $175M | $172M | · | · | · | |
| Prepaid Expense | $141M | $142M | $132M | $183M | $201M | $171M | $97M | $111M | $137M | · | · | · | |
| Other Current Assets | $57M | $48M | $53M | $58M | $66M | $71M | $39M | $0 | $21M | · | · | · | |
| Current Assets | $1.24B | $1.26B | $1.24B | $1.28B | $1.35B | $1.39B | $1.28B | $1.60B | $1.34B | · | · | · | |
| PP&E (Net) | $11.21B | $11.27B | $11.34B | $11.25B | $11.32B | $10.64B | $10.63B | $10.66B | $10.49B | · | · | · | |
| PP&E (Gross) | · | · | · | · | · | · | · | · | $12.54B | · | · | · | |
| Accum. Depreciation | $3.86B | $3.70B | $3.54B | $3.38B | $3.22B | $3.01B | $2.85B | $2.75B | $2.54B | · | · | · | |
| Goodwill | $3.43B | $3.44B | $3.47B | $3.47B | $3.50B | $3.38B | $3.34B | $3.44B | $3.36B | · | $3.39B | · | |
| Intangibles | $1.02B | $1.05B | $1.09B | $1.12B | $1.15B | $1.12B | $1.13B | $1.22B | $1.22B | · | · | · | |
| Other Non-current Assets | $208M | $198M | $204M | $213M | $217M | $262M | $279M | $243M | $300M | · | · | · | |
| Total Assets | $18.90B | $19.05B | $19.18B | $19.20B | $19.44B | $18.77B | $18.66B | $19.26B | $18.76B | · | · | · | |
| Accounts Payable | $1.37B | $1.27B | $1.33B | $1.05B | $1.16B | $1.13B | $1.22B | $1.28B | $1.09B | · | · | · | |
| Current Liabilities | $1.59B | $1.49B | $1.55B | $1.29B | $1.41B | $1.41B | $1.49B | $1.50B | $1.22B | · | · | · | |
| Capital Leases | $574M | $587M | $599M | $598M | $605M | $598M | $605M | $632M | $677M | · | · | · | |
| Deferred Tax | $279M | $286M | $303M | $310M | $328M | $324M | $304M | $322M | $351M | · | · | · | |
| Other Non-current Liabilities | $168M | $166M | $169M | $465M | $461M | $425M | $410M | $434M | $159M | · | · | · | |
| Total Liabilities | $10.03B | $9.99B | $9.94B | $9.81B | $9.78B | $9.12B | $8.97B | $9.13B | $13.00B | · | · | · | |
| Long-term Debt | $6.22B | $6.26B | $6.11B | $5.95B | $5.77B | $5.18B | $4.96B | $4.99B | $9.34B | · | · | · | |
| Total Debt | $6.22B | $6.26B | · | $5.95B | $5.77B | $5.18B | · | $4.99B | $9.34B | · | · | · | |
| Common Stock | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | · | · | · | |
| Retained Earnings | $-2.76B | $-2.61B | $-2.44B | $-2.33B | $-2.10B | $-1.98B | $-1.85B | $-1.66B | $-987M | · | · | · | |
| AOCI | $-144M | $-122M | $-97M | $-115M | $-79M | $-231M | $-273M | $-58M | $-119M | · | · | · | |
| Stockholders' Equity | $7.89B | $8.09B | $8.25B | $8.38B | $8.64B | $8.59B | $8.64B | $9.03B | $4.88B | · | · | · | |
| Liabilities + Equity | $18.90B | $19.05B | $19.18B | $19.20B | $19.44B | $18.77B | $18.66B | $19.26B | $18.76B | · | · | · | |
| Shares Outstanding | 228,000,000 | 227,000,000 | 227,000,000 | 228,000,000 | 229,000,000 | 228,000,000 | 228,000,000 | 228,000,000 | 162,000,000 | · | 162,000,000 | · |
Cash Flow 17
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $237M | $233M | $229M | $230M | $224M | $212M | $236M | $210M | $219M | $211M | $203M | $188M | |
| Stock-based Comp | $23M | $30M | $19M | $38M | $29M | $40M | $44M | $160M | $6M | $5M | $7M | $8M | |
| Deferred Tax | $-7M | $1M | $-3M | $-4M | $-20M | $11M | $-34M | $-47M | $-1M | $-23M | $-10M | $-16M | |
| Amort. of Intangibles | · | · | · | · | · | · | $-46M | $54M | $55M | · | $-40M | $51M | |
| Other Non-cash | · | $-88M | · | · | · | $-124M | · | · | · | · | · | · | |
| Operating Cash Flow | $311M | $130M | $316M | $230M | $258M | $139M | $257M | $186M | $155M | $105M | $231M | $229M | |
| CapEx | $125M | $185M | $238M | $195M | $163M | $151M | $205M | $153M | $186M | $147M | $161M | $177M | |
| Investing Cash Flow | $-122M | $-164M | $-168M | $-181M | $-580M | $-138M | $-383M | $-138M | $-196M | $-202M | $-421M | $-191M | |
| Debt Issued | · | · | $803M | $0 | $495M | $0 | $0 | $0 | $2.40B | $81M | $0 | $0 | |
| Net Debt Issued | · | · | · | · | · | $0 | · | · | · | · | · | · | |
| Stock Repurchased | · | · | $82M | $0 | $0 | $0 | $17M | $0 | $0 | $25M | $9M | $0 | |
| Net Stock Activity | · | · | · | · | · | $0 | · | · | · | · | · | · | |
| Dividends Paid | $136M | $133M | $135M | $134M | $134M | $134M | $96M | $49M | $11M | $112M | $46M | $0 | |
| Financing Cash Flow | $-198M | $36M | $-158M | $-54M | $205M | $21M | $-108M | $284M | $23M | $121M | $146M | $-64M | |
| Net Change in Cash | $-9M | $1M | $-9M | $-7M | $-115M | $22M | $-237M | $336M | $-18M | $23M | $-41M | $-29M | |
| Taxes Paid | $3M | $7M | $7M | $4M | $14M | $1M | $6M | $2M | $19M | $9M | $-1M | $-10M | |
| Free Cash Flow | · | $-55M | · | · | · | $-12M | · | · | · | · | · | · |
Profitability 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 4.0% | 2.8% | · | 2.5% | 1.7% | 4.3% | · | -38.6% | 5.5% | · | · | · | |
| Net Margin | -2.1% | -3.5% | · | -7.3% | -0.44% | 0.00% | · | -36.3% | -5.1% | · | · | · | |
| EBITDA Margin | 4.0% | 20.7% | · | 2.5% | 1.7% | 20.7% | · | -38.6% | 5.5% | · | · | · | |
| ROA | -0.15% | -0.24% | · | -0.52% | -0.03% | 0.00% | · | -5.0% | -0.73% | · | · | · | |
| ROE | -0.35% | -0.55% | · | -1.1% | -0.09% | 0.00% | · | -10.8% | -2.8% | · | · | · |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.8 | 0.8 | · | 1.0 | 1.0 | 1.0 | · | 1.1 | 1.1 | · | · | · | |
| Quick Ratio | 0.6 | 0.6 | · | 0.7 | 0.6 | 0.6 | · | 0.9 | 0.8 | · | · | · | |
| Debt / Equity | 0.8 | 0.8 | · | 0.7 | 0.7 | 0.6 | · | 0.6 | 1.9 | · | · | · | |
| LT Debt / Equity | 0.8 | 0.8 | · | 0.7 | 0.7 | 0.6 | · | 0.5 | 1.9 | · | · | · |
Efficiency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | · | · | · | |
| Inventory Turnover | 6.3 | 5.6 | · | 5.5 | 5.3 | 10.0 | · | 10.3 | 10.4 | · | · | · | |
| Receivables Turnover | 1.5 | 1.5 | · | 1.6 | 1.5 | 3.1 | · | 3.0 | 2.8 | · | · | · |
Valuation (TTM) 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $5.38B | $5.32B | · | $5.35B | $5.32B | $5.29B | · | $5.33B | $5.34B | · | · | · | |
| Net Income TTM | $-181M | $-152M | · | $-591M | $-559M | $-593M | · | $-632M | $-152M | · | · | · | |
| Market Cap | $9.86B | $7.44B | · | $8.81B | $9.97B | $13.37B | · | $17.87B | · | · | · | · | |
| Enterprise Value | · | · | · | · | · | · | · | $22.46B | · | · | · | · | |
| P/E | -55.4 | -51.2 | · | -13.3 | -14.9 | -18.5 | · | -22.8 | · | · | · | · | |
| P/S | 1.8 | 1.4 | · | 1.6 | 1.9 | 2.5 | · | 3.4 | · | · | · | · | |
| P/B | 1.2 | 0.9 | · | 1.1 | 1.2 | 1.6 | · | 2.0 | · | · | · | · | |
| P / Tangible Book | 2.9 | 2.1 | · | 2.3 | 2.5 | 3.3 | · | 4.1 | · | · | · | · | |
| P / Cash Flow | · | 57.2 | · | · | · | 96.2 | · | · | · | · | · | · | |
| P / FCF | · | -135.2 | · | · | · | -1114.0 | · | · | · | · | · | · | |
| EV / EBITDA | · | · | · | · | · | · | · | -43.6 | · | · | · | · | |
| EV / Revenue | · | · | · | · | · | · | · | 4.2 | · | · | · | · | |
| Earnings Yield | -1.8% | -1.9% | · | -7.5% | -6.7% | -5.4% | · | -4.4% | · | · | · | · | |
| Payout Ratio | · | -289.1% | · | · | · | · | · | · | · | · | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | |
|---|---|---|---|---|
| Revenue | $5.36B | $5.34B | $5.34B | $4.93B |
| Operating Margin % | 3.4% | -6.8% | — | — |
| Net Income | $-100M | $-664M | $-77M | $-63M |
| Diluted EPS | $-0.43 | $-3.70 | $-0.73 | $-0.51 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | |
|---|---|---|---|---|
| Debt / Equity | 0.7 | 0.6 | — | — |
| Current Ratio | 0.8 | 0.9 | — | — |
| Quick Ratio | 0.6 | 0.7 | — | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | |
|---|---|---|---|---|
| Free Cash Flow | $196M | $12M | — | — |
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Institutional owners (13F) 352 filers · $2.6B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 74 (-1 vs prior Q) | 43 (+18 vs prior Q) | 102 (-26 vs prior Q) | 99 (+35 vs prior Q) | +18.6M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| NORGES BANK | $601,915,527 | 13,917,122 | 23.36% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $248,024,564 | 5,734,672 | 9.63% | Shares |
| D1 Capital Partners L.P. | $204,845,494 | 4,736,312 | 7.95% | Shares |
| BANK OF AMERICA CORP /DE/ | $150,838,743 | 3,487,601 | 5.85% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $127,865,208 | 2,956,421 | 4.96% | Shares |
| HighTower Advisors, LLC | $98,876,667 | 2,286,166 | 3.84% | Shares |
| STATE STREET CORP | $83,152,688 | 1,899,057 | 3.23% | Shares |
| DARLINGTON PARTNERS CAPITAL MANAGEMENT, LP | $66,338,710 | 1,533,843 | 2.57% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $53,409,133 | 1,234,658 | 2.07% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $48,023,286 | 1,110,365 | 1.86% | Shares |
| FULLER & THALER ASSET MANAGEMENT, INC. | $46,713,917 | 1,080,091 | 1.81% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $41,271,226 | 954,248 | 1.60% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $36,892,510 | 853,006 | 1.43% | Shares |
| Lunate Holding RSC Ltd | $35,142,000 | 600,000 | 1.36% | Shares |
| FAIRVIEW CAPITAL INVESTMENT MANAGEMENT, LLC | $34,579,153 | 799,518 | 1.34% | Shares |
| GRS Advisors, LLC | $34,422,978 | 795,907 | 1.34% | Shares |
| Nuveen Asset Management, LLC | $30,108,494 | 514,060 | 1.17% | Shares |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC | $27,987,551 | 647,111 | 1.09% | Shares |
| VILLERE ST DENIS J & CO LLC | $26,749,908 | 618,495 | 1.04% | Shares |
| Lunate Capital Ltd | $25,950,000 | 600,000 | 1.01% | Shares |
| BAILLIE GIFFORD & CO | $23,525,967 | 543,953 | 0.91% | Shares |
| Balyasny Asset Management L.P. | $21,781,349 | 503,615 | 0.85% | Shares |
| Alberta Investment Management Corp | $18,117,425 | 418,900 | 0.70% | Shares |
| Qube Research & Technologies Ltd | $16,159,454 | 373,629 | 0.63% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $16,022,784 | 370,469 | 0.62% | Shares |
| Apollo Management Holdings, L.P. | $15,700,010 | 363,006 | 0.61% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $15,370,012 | 355,376 | 0.60% | Shares |
| BlackRock, Inc. | $13,234,933 | 306,010 | 0.51% | Shares |
| GCM Grosvenor Holdings, LLC | $13,064,917 | 302,079 | 0.51% | Shares |
| RAYMOND JAMES FINANCIAL INC | $12,749,848 | 294,794 | 0.49% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $12,086,786 | 288,021 | 0.47% | Shares |
| GOLDMAN SACHS GROUP INC | $11,089,343 | 256,401 | 0.43% | Shares |
| CITADEL ADVISORS LLC | $10,114,099 | 233,852 | 0.39% | Shares |
| BARCLAYS PLC | $9,898,800 | 228,874 | 0.38% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $9,695,396 | 224,171 | 0.38% | Shares |
| Susquehanna Portfolio Strategies, LLC | $9,481,265 | 219,220 | 0.37% | Shares |
| FIRST TRUST ADVISORS LP | $9,302,902 | 215,096 | 0.36% | Shares |
| Mariner, LLC | $8,958,678 | 207,124 | 0.35% | Shares |
| IEQ CAPITAL, LLC | $8,440,021 | 195,145 | 0.33% | Shares |
| AMERIPRISE FINANCIAL INC | $8,272,546 | 191,263 | 0.32% | Shares |
| Hudson Bay Capital Management LP | $8,003,542 | 185,053 | 0.31% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $7,568,750 | 175,000 | 0.29% | Call option |
| CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC | $7,409,417 | 171,316 | 0.29% | Shares |
| APG Asset Management US Inc. | $7,392,777 | 169,598 | 0.29% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $7,264,702 | 167,970 | 0.28% | Shares |
| Caisse de depot et placement du Quebec | $7,147,409 | 165,258 | 0.28% | Shares |
| CITADEL ADVISORS LLC | $6,102,575 | 141,100 | 0.24% | Call option |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp | $6,029,569 | 139,412 | 0.23% | Shares |
| Swiss National Bank | $5,912,275 | 136,700 | 0.23% | Shares |
| National Philanthropic Trust | $5,779,411 | 133,628 | 0.22% | Shares |
| ALLIANCEBERNSTEIN L.P. | $4,948,726 | 151,060 | 0.19% | Shares |
| PENNINGTON PARTNERS & CO., LLC | $4,879,503 | 111,449 | 0.19% | Shares |
| Quantinno Capital Management LP | $4,583,559 | 105,978 | 0.18% | Shares |
| Bank of New York Mellon Corp | $4,571,179 | 105,692 | 0.18% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $4,541,250 | 105,000 | 0.18% | Put option |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $4,340,311 | 100,354 | 0.17% | Shares |
| JANE STREET GROUP, LLC | $4,017,925 | 92,900 | 0.16% | Put option |
| NOMURA ASSET MANAGEMENT CO LTD | $3,946,130 | 91,240 | 0.15% | Shares |
| Corient Private Wealth LP | $3,762,794 | 86,997 | 0.15% | Shares |
| JANE STREET GROUP, LLC | $3,762,750 | 87,000 | 0.15% | Call option |
| Bayberry Capital Partners LP | $3,762,750 | 87,000 | 0.15% | Shares |
| CITIGROUP INC | $3,656,788 | 84,550 | 0.14% | Shares |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS | $3,640,136 | 84,165 | 0.14% | Shares |
| AXA Investment Managers S.A. | $3,619,332 | 93,668 | 0.14% | Shares |
| Uniplan Investment Counsel, Inc. | $3,593,312 | 83,082 | 0.14% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $3,564,319 | 82,412 | 0.14% | Shares |
| Gotham Asset Management, LLC | $3,540,488 | 81,861 | 0.14% | Shares |
| Russell Investments Group, Ltd. | $3,442,700 | 79,600 | 0.13% | Shares |
| Oak Thistle LLC | $3,003,540 | 69,446 | 0.12% | Shares |
| TWO SIGMA INVESTMENTS, LP | $2,836,508 | 65,584 | 0.11% | Shares |
| BECKER CAPITAL MANAGEMENT INC | $2,821,345 | 64,440 | 0.11% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $2,794,815 | 64,620 | 0.11% | Shares |
| MILLENNIUM MANAGEMENT LLC | $2,792,739 | 64,572 | 0.11% | Shares |
| Vanguard Investments Australia, Ltd. | $2,732,146 | 63,171 | 0.11% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $2,709,310 | 62,643 | 0.11% | Shares |
| MAI Capital Management | $2,683,904 | 61,297 | 0.10% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $2,625,943 | 80,157 | 0.10% | Shares |
| RHUMBLINE ADVISERS | $2,596,106 | 60,026 | 0.10% | Shares |
| Asset Management One Co., Ltd. | $2,530,022 | 77,229 | 0.10% | Shares |
| Holocene Advisors, LP | $2,405,911 | 55,628 | 0.09% | Shares |
| Schonfeld Strategic Advisors LLC | $2,307,688 | 53,357 | 0.09% | Shares |
| TWO SIGMA ADVISERS, LP | $2,285,500 | 65,300 | 0.09% | Shares |
| VANGUARD GROUP INC | $2,236,535 | 63,901 | 0.09% | Shares |
| Ghisallo Capital Management LLC | $2,162,500 | 50,000 | 0.08% | Shares |
| Belpointe Asset Management LLC | $2,159,948 | 49,941 | 0.08% | Shares |
| Twin Tree Management, LP | $2,149,525 | 49,700 | 0.08% | Call option |
| IQ EQ FUND MANAGEMENT (IRELAND) Ltd | $2,143,816 | 49,568 | 0.08% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $2,052,559 | 47,458 | 0.08% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $1,877,785 | 43,417 | 0.07% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $1,816,976 | 42,011 | 0.07% | Shares |
| CWM, LLC | $1,813,692 | 55,363 | 0.07% | Shares |
| Squarepoint Ops LLC | $1,813,083 | 41,921 | 0.07% | Shares |
| Amundi | $1,776,753 | 41,081 | 0.07% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $1,768,925 | 40,900 | 0.07% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $1,744,100 | 40,326 | 0.07% | Shares |
| XTX Topco Ltd | $1,727,016 | 39,931 | 0.07% | Shares |
| Lavaca Capital LLC | $1,712,979 | 39,606 | 0.07% | Shares |
| PEAK6 LLC | $1,630,222 | 37,693 | 0.06% | Shares |
| Vestmark Advisory Solutions, Inc. | $1,617,204 | 37,392 | 0.06% | Shares |
| Cerity Partners LLC | $1,559,129 | 36,049 | 0.06% | Shares |
Company insiders 18 insiders · 12 officers · 8 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Greg Lehmkuhl | President, Chief Executive Officer and Director | July 26, 2024 A | — | 0 | 0 | $0 |
| Robert Crisci | Chief Financial Officer | July 26, 2024 A | 10,000 | 0 | 0 | $0 |
| Kevin Patrick Marchetti | CO-EXECUTIVE CHAIRMAN | Aug. 8, 2025 P | 62,323 | 0 | 0 | $0 |
| Adam Matthew Schwartz Forste | CO-EXECUTIVE CHAIRMAN | May 8, 2025 P | 35,266 | 0 | 0 | $0 |
| Timothy Conrad Smith | Chief Commercial Officer | July 26, 2024 A | — | 0 | 0 | $0 |
| Sean Robert Vanderelzen | Chief Human Resources Officer | July 26, 2024 A | 31,999 | 0 | 0 | $0 |
| Sudarsan V Thattai | Chief Information and Chief Transformation Officer | July 26, 2024 A | — | 0 | 0 | $0 |
| Natalie Matsler | Chief Legal Officer and Secretary | July 26, 2024 A | — | 0 | 0 | $0 |
| Jeffrey Alvarez Rivera | Global Chief Operations Officer | July 26, 2024 A | 5,406 | 0 | 0 | $0 |
| Brian Jeffrey Mcgowan | Chief Network Optimization Officer | July 26, 2024 A | — | 0 | 0 | $0 |
| Abigail S Fleming | Chief Accounting Officer | July 26, 2024 P | 2,792 | 0 | 0 | $0 |
| Gregory A. Bryan | Chief Integrated Solutions Officer | July 26, 2024 A | 15,031 | 0 | 0 | $0 |
| Michael John Turner | Director | June 9, 2026 A | 11,612 | 0 | 0 | $0 |
| Nancy Joy Falotico | Director | June 9, 2026 A | 18,517 | 0 | 0 | $0 |
| Lynn A Wentworth | Director | June 9, 2026 A | 17,226 | 0 | 0 | $0 |
| Shellye L Archambeau | Director | June 9, 2026 A | 12,112 | 0 | 0 | $0 |
| BG Lineage Holdings, LLC | Director | Aug. 5, 2025 J | 156,601,953 | 0 | 0 | $0 |
| Robb A. Lemasters | — | Aug. 7, 2026 P | 49,500 | 1 | 0 | $826,600 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 56 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| SRHR · Elevation Series Trust | 2.54% | 35,000 NS | April 30, 2026 | N-PORT |
| RDOG · ALPS ETF Trust | 2.44% | 6,138 NS | May 31, 2026 | N-PORT |
| TBG · EA Series Trust | 2.00% | 124,791 NS | April 30, 2026 | N-PORT |
| RIET · ETF Series Solutions | 1.83% | 43,114 NS | May 31, 2026 | N-PORT |
| RITA · ETF Series Solutions | 0.73% | 1,765 NS | April 30, 2026 | N-PORT |
| FNK · First Trust Exchange-Traded AlphaDE… | 0.47% | 27,793 NS | April 30, 2026 | N-PORT |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.23% | 83,119 NS | April 30, 2026 | N-PORT |
| USRT · iShares Trust | 0.23% | 261,915 SH | Aug. 8, 2026 | Daily |
| DFAR · Dimensional ETF Trust | 0.19% | 88,905 NS | April 30, 2026 | N-PORT |
| SCHH · SCHWAB STRATEGIC TRUST | 0.18% | 403,372 NS | May 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.17% | 118,343 | Aug. 8, 2026 | Daily |
| IYR · iShares Trust | 0.17% | 187,179 SH | Aug. 8, 2026 | Daily |
| VNQ · VANGUARD SPECIALIZED FUNDS | 0.16% | 2,593,429 SH | Aug. 8, 2026 | Daily |
| FREL · FIDELITY COVINGTON TRUST | 0.16% | 61,034 NS | April 30, 2026 | N-PORT |
| REET · iShares Trust | 0.15% | 191,147 SH | Aug. 8, 2026 | Daily |
| ERET · iShares Trust | 0.14% | 498 SH | Aug. 8, 2026 | Daily |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.14% | 5,362 NS | April 30, 2026 | N-PORT |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.14% | 28,242 | Aug. 8, 2026 | Daily |
| DFGR · Dimensional ETF Trust | 0.13% | 122,635 NS | April 30, 2026 | N-PORT |
| AVRE · AMERICAN CENTURY ETF TRUST | 0.10% | 18,145 NS | May 31, 2026 | N-PORT |
| FNDA · SCHWAB STRATEGIC TRUST | 0.09% | 179,691 NS | May 31, 2026 | N-PORT |
| ISCV · iShares Trust | 0.08% | 13,100 SH | Aug. 8, 2026 | Daily |
| BBRE · J.P. Morgan Exchange-Traded Fund Tr… | 0.06% | 17,625 NS | May 31, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.06% | 994,873 SH | Aug. 8, 2026 | Daily |
| BKMC · BNY Mellon ETF Trust | 0.06% | 10,004 NS | April 30, 2026 | N-PORT |
| SCHM · SCHWAB STRATEGIC TRUST | 0.05% | 155,053 NS | May 31, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.04% | 24,090 NS | April 30, 2026 | N-PORT |
| VB · VANGUARD INDEX FUNDS | 0.04% | 1,566,671 SH | Aug. 8, 2026 | Daily |
| ISCB · iShares Trust | 0.04% | 2,701 SH | Aug. 8, 2026 | Daily |
| SMMD · iShares Trust | 0.04% | 34,611 SH | Aug. 8, 2026 | Daily |
| CAPE · DoubleLine ETF Trust | 0.04% | 2,955 NS | March 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.03% | 653,752 SH | Aug. 8, 2026 | Daily |
| IWS · iShares Trust | 0.03% | 103,968 SH | Aug. 8, 2026 | Daily |
| WSML · iShares Trust | 0.03% | 4,316 SH | Aug. 8, 2026 | Daily |
| ONEQ · Fidelity Commonwealth Trust | 0.03% | 62,716 NS | May 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.02% | 12,474 NS | April 30, 2026 | N-PORT |
| IWR · iShares Trust | 0.02% | 280,607 SH | Aug. 8, 2026 | Daily |
| VONV · VANGUARD SCOTTSDALE FUNDS | 0.01% | 41,886 SH | Aug. 8, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.01% | 15,695 SH | Aug. 8, 2026 | Daily |
| GVUS · Goldman Sachs ETF Trust | 0.01% | 848 NS | May 31, 2026 | N-PORT |
| SCHV · SCHWAB STRATEGIC TRUST | 0.01% | 28,660 NS | May 31, 2026 | N-PORT |
| IWD · iShares Trust | 0.01% | 153,861 SH | Aug. 8, 2026 | Daily |
| FNDB · SCHWAB STRATEGIC TRUST | 0.01% | 1,849 NS | May 31, 2026 | N-PORT |
| GUSA · Goldman Sachs ETF Trust II | 0.00% | 2,415 NS | May 31, 2026 | N-PORT |
| IWB · iShares Trust | 0.00% | 49,272 SH | Aug. 8, 2026 | Daily |
| SCHX · SCHWAB STRATEGIC TRUST | 0.00% | 60,889 NS | May 31, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 34,893 NS | May 31, 2026 | N-PORT |
| SCHK · SCHWAB STRATEGIC TRUST | 0.00% | 4,580 NS | May 31, 2026 | N-PORT |
| MSLC · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 3,054 NS | May 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 16,805 SH | Aug. 8, 2026 | Daily |