Lineage, Inc. (LINE)
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.
Sector: Real Estate Investment Trusts
Industry: REIT - Industrial
Lineage, Inc.
NASDAQ:LINEReal Estate · REIT - Industrial
-1.01%$39.13
CLOSED · Nov 6Prev close$39.53-1.01%Close$39.130.00%AH close$39.13
AH$39.13+0.00%vs close
Mkt Cap$8.91B
Float71.39M
O/S227.71M
VOL1.25M sh
$ Vol$48.96M
RVOL1.30×
Inst Own33.8%
SI10.0%
Div Yield5.43%
Dilution
Financials Summary
Revenue$5.36B
Net Income-$98M
Total Assets$19.18B
Free Cash Flow$196M
Debt & Equity
Debt 51%
Equity 49%
Total Debt$8.66B
Total Equity$8.25B
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in LINE's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$19.18B
Liabilities$9.94B
Accounts Receivable$896M
Accounts Payable$1.1B
Inventory$145M
PP&E (Net)$13.05B
Goodwill$3.47B
Intangible Assets$1.09B
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Revenue | $5.36B | $5.34B | $5.34B | $4.93B | $3.7B |
| YoY Growth | 0.3% | -0.0% | 8.4% | 33.1% | - |
| Cost of Revenue | $4.53B | $3.58B | $3.59B | $3.47B | $2.57B |
| Gross Profit | $826M | $1.76B | $1.75B | $1.46B | $1.13B |
| Gross Margin | 15.4% | 33.0% | 32.8% | 29.5% | 30.5% |
| Research and Development | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $574M | $539M | $502M | $399M | $289.3M |
| Other | $0 | $862M | $1.65B | $1.35B | $753.6M |
| Total Operating Expenses | $574M | $1.4B | $2.15B | $1.75B | $1.04B |
| Operating Income (EBIT) | $252M | $361M | -$398M | -$297M | $87.7M |
| Operating Margin | 4.7% | 6.8% | -7.5% | -6.0% | 2.4% |
| Interest Expense | $268M | $539M | $588M | $388.1M | $235M |
| Interest Income | $8M | $12M | $6M | $3.2M | $3.7M |
| Other Income (Expense) | -$367M | -$1.2B | $288M | $227M | -$293.5M |
| Income Before Tax (EBT) | -$115M | -$840M | -$110M | -$70M | -$205.8M |
| Income Tax Expense | -$2M | -$89M | -$14M | $6M | -$29.3M |
| Net Income | -$98M | -$664M | -$77M | -$63M | -$153.3M |
| Net Income Margin | -1.8% | -12.4% | -1.4% | -1.3% | -4.1% |
| Supplementary Data | |||||
| EPS | -0.43 | -3.70 | -0.37 | -0.30 | -0.73 |
| Diluted EPS | -0.43 | -3.70 | -0.37 | -0.30 | -0.73 |
| Weighted Average OS | 228.00M | 191.00M | 210.20M | 210.80M | 210.80M |
| EBITDA | $1.05B | $547M | $1.24B | $976M | $632.9M |
| EBITDA Margin | 19.6% | 10.2% | 23.2% | 19.8% | 17.1% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Assets | |||||
| Current Assets | |||||
| Cash and Cash Equivalents | $66M | $173M | $68M | $170.6M | $209.1M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $66M | $173M | $68M | $170.6M | $209.1M |
| Accounts Receivable | $896M | $826M | $913M | $935.7M | $692.9M |
| Inventory | $145M | $187M | $171M | $156.8M | $144.5M |
| Other Current Assets | $53M | $41M | $42M | $52.7M | $49.3M |
| Total Current Assets | $1.24B | $1.28B | $1.26B | $1.4B | $1.24B |
| Long-Term Assets | |||||
| Property, Plant & Equipment Net | $13.05B | $12.51B | $12.54B | $12.07B | $10.79B |
| Goodwill | $3.47B | $3.34B | $3.39B | $3.3B | $2.84B |
| Intangible Assets | $1.09B | $1.13B | $1.28B | $1.33B | $1.3B |
| Long-Term Investments | $131M | $124M | $113M | $83.9M | $72.2M |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $204M | $279M | $290M | $371.7M | $175.8M |
| Total Long-Term Assets | $17.95B | $17.38B | $17.61B | $17.16B | $15.18B |
| Other Assets | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $19.18B | $18.66B | $18.87B | $18.56B | $16.42B |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | $1.1B | $1.22B | $1.14B | $1.08B | $812.4M |
| Short-Term Debt | $136M | $56M | $24M | $36.4M | $19.5M |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $81M | $83M | $94M | $91.8M | $67.2M |
| Other Current Liabilities | $101M | -$12M | -$109.9M | $0 | $0 |
| Total Current Liabilities | $1.55B | $1.49B | $1.36B | $1.22B | $1.05B |
| Long-Term Liabilities | |||||
| Long-Term Debt | $6.71B | $4.91B | $8.96B | $8.7B | $7.57B |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $303M | $304M | $370M | $413.5M | $384.3M |
| Other Long-Term Liabilities | -$430M | $348M | $89M | $163.3M | $125.3M |
| Total Long-Term Liabilities | $8.39B | $7.47B | $11.48B | $11.23B | $10.1B |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $9.94B | $8.97B | $12.85B | $12.45B | $11.14B |
| Stockholders' Equity | |||||
| Preferred Stock | $0 | $0 | $1M | $600K | $600K |
| Common Stock | $2M | $2M | $2M | $1.6M | $1.5M |
| Retained Earnings | -$2.44B | -$1.85B | -$879M | -$712.8M | -$667M |
| Comprehensive Income & Other | -$97M | -$273M | -$34M | -$37.4M | $9.5M |
| Other Stockholders' Equity | $10.68B | $10.49B | $5.93B | $5.88B | $5.01B |
| Total Equity | $8.25B | $8.64B | $5.05B | $5.17B | $4.34B |
| Minority Interest | $997M | $1.06B | $971M | $938.7M | $937.1M |
| Total Liabilities and Equity | $18.19B | $17.61B | $17.9B | $17.62B | $15.48B |
| Supplementary Data | |||||
| Total Debt | $8.66B | $6.88B | $11.05B | $10.69B | $9.6B |
| Net Debt | $8.59B | $6.71B | $10.98B | $10.52B | $9.4B |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Operating Activities | |||||
| Net Income | -$113M | -$751M | -$96M | -$76M | -$176.5M |
| Depreciation & Amortization | $895M | $876M | $760M | $678M | $603.7M |
| Deferred Income Tax | -$16M | -$105M | -$58M | -$42M | -$69M |
| Stock-Based Compensation | $126M | $215M | $26M | $17M | $14.6M |
| Changes in Working Capital: | |||||
| Accounts Receivable | -$37M | $64M | $43M | -$156M | -$102.6M |
| Inventory | -$5M | -$18M | $8M | -$13M | -$13.6M |
| Accounts Payable | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | $31M | -$101M | $51M | $44M | -$4.1M |
| Total Working Capital Change | -$11M | -$55M | $102M | -$125M | -$120.3M |
| Other Non-Cash Items | $62M | $523M | $62M | $49M | $77.4M |
| Net Cash from Operating | $943M | $703M | $796M | $501M | $329.9M |
| Investing Activities | |||||
| Capital Expenditures | -$747M | -$691M | -$766M | -$813M | -$689.1M |
| Acquisitions | -$429M | -$343M | -$283M | -$1.55B | -$2.41B |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $109M | $115M | -$17M | -$9M | -$310.3M |
| Net Cash from Investing | -$1.07B | -$919M | -$1.07B | -$2.37B | -$3.41B |
| Financing Activities | |||||
| Debt Repaid | -$841M | $4.03B | -$119M | -$1.16B | -$1.2B |
| Common Stock Issuance | -$13M | $4.88B | $142M | $942M | $2.12B |
| Common Stock Repurchases | -$94M | -$102M | -$30M | -$8M | -$39.6M |
| Dividends Paid | -$537M | -$234M | -$46M | -$180M | -$148.4M |
| Other Financing Activities | -$183M | -$192M | -$49M | -$70M | -$106.7M |
| Net Cash from Financing | $14M | $320M | $136M | $1.84B | $3.03B |
| Forex Effect | $1M | $200K | $3M | -$10M | -$7M |
| Net Change in Cash | -$109M | $104.2M | -$131M | -$38M | -$63.2M |
| Supplementary Data | |||||
| Operating Cash Flow | $943M | $703M | $796M | $501M | $329.9M |
| Capital Expenditure | -$747M | -$691M | -$766M | -$813M | -$689.1M |
| Free Cash Flow | $196M | $12M | $30M | -$312M | -$359.2M |
| Cash at Beginning | $175M | $70.8M | $202M | $240M | $303.3M |
| Cash at End | $66M | $175M | $71M | $202M | $240.1M |