Screened 2026-08-27 · the tape above runs as of 22:12 UTC · 11 Sep · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its markdown label.
Lindblad Expeditions Holdings, Inc. holds its Markdown at $30.06. Consolidating, no directional conviction, held for 16 days.
As held on the ledger · 2026-08-27
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 16 days
Price at the screen
$30.06
Valuation
N/A trailing · 68.79 forward price to earnings
Values screen
FAIL· score 70.0
Beta
2.25
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
67.74%
Below 33%
Interest-bearing debt is 67.7% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
26.19%
Below 49%
Money owed to the company is 26.2% of assets, under the 49% limit.
Pass
Revenue purity
0.00%
Below 5%
Only 0.0% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-08-27 screen. The gold marker is the market price at the same screen. The price runs 23.2% above the base estimate.
Third-party analyst targets: 5 covering, consensus None. The average target sits +23% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-08-27 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
High priced expeditions fail to cover costs
Picture signing up for a premium polar cruise only to learn the operator is still losing money on every voyage. Lindblad offers intimate ship based adventures that sound exclusive yet the numbers show revenue growth of 16 percent alongside a negative 3 percent profit margin. At 79 times forward earnings the shares trade well above any reasonable value for a business with no clear moat.
We pass because the current price of 27.67 dollars sits 41 percent above our fair value of 16.32 dollars and the opportunity rating is none. Strong buy notes from five analysts cannot change the fact that investors are paying a premium for a cyclical travel name that has yet to turn consistent profits.
Travel demand can swing sharply with recessions fuel costs and sudden restrictions so even ethical clearance does not offset the valuation gap. The business may recover but the entry price leaves little room for error.
Analysis, not advice.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
LIND trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-09-04Markdown · changed$30.06+8.6%Entry 5
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 8.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 46% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 93%. Our forward projection puts the odds of a 10% gain over the next month near 40%. The street (5 analysts) rates it none, with a mean price target of $24.
2026-08-04Markup$27.67+18.0%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 18.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 46% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 93%. Our forward projection puts the odds of a 10% gain over the next month near 40%. The street (5 analysts) rates it none, with a mean price target of $24.
2026-07-18Markup$23.45+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 46% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 93%. Our forward projection puts the odds of a 10% gain over the next month near 40%. The street (5 analysts) rates it none, with a mean price target of $24.
2026-07-03Markup$23.45+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Markup$23.45Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
