LINDSAY CORP (LNN) FY2025 10-K Annual Report
LINDSAY CORP (LNN) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Oct 23, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
LINDSAY CORP FY2025 10-K Analysis
Business Overview
- • Core business model: Manufacturer and provider of irrigation and infrastructure equipment solutions
- • No new products, services, or business segments introduced or emphasized in this filing year
- • No strategic shift or changed competitive positioning disclosed compared to prior years
- • Equity compensation plans approved with 290,790 securities exercisable, weighted-average price $122.04, 535,609 shares available for future issuance
- • No waivers of the Code of Ethical Conduct for principal executive and senior financial officers during fiscal 2025
Management Discussion & Analysis
- • Revenue $676.4M, up 11% YoY (+$69.3M); irrigation $568.0M (+11%), infrastructure $108.4M (+16%)
- • Operating margin 13.0% vs 12.6%; irrigation margin 17.1% vs 17.0%, infrastructure margin 24.3% vs 20.4%
- • Best segment: Infrastructure operating income $26.3M, up 39%; worst: North America irrigation revenue down 9% (-$28.3M)
- • Cash flow from operations $132.9M vs $95.8M; capex $42.5M vs $29.0M; repurchases $11.5M vs $22.5M; dividends $15.7M vs $15.5M
- • Fiscal 2026 capex guidance $50-$55M; focus on organic growth, acquisitions, dividend growth, and opportunistic buybacks; currency risk hedged
Risk Factors
- • Regulatory risk: Expiration of U.S. Farm Bill Sept 30, 2025 creates uncertainty in conservation funding impacting irrigation product demand
- • Geopolitical risk: $100M multi-year irrigation project in MENA region exposes Company to regional political and economic instability
- • Supply chain risk: U.S. tariffs on imports from China, Mexico, Canada cause marginal cost increases requiring supplier negotiation and inventory strategies
- • Market disruption: Increasing EPA Renewable Fuels Standard volumes (8% in 2026, 10% in 2027) may shift biofuel crop demand impacting irrigation product mix
- • Financial risk: Order backlog declined from $180.9M (2024) to $110.7M (2025), indicating potential near-term revenue timing pressure
LINDSAY CORP FY2025 Key Financial MetricsXBRL
Revenue
$659M
▲ +12.8% YoY
Net Income
$74M
▲ +11.8% YoY
Gross Margin
32.0%
▼ -72bp YoY
Operating Margin
13.4%
▲ +26bp YoY
Net Margin
11.2%
▼ -10bp YoY
ROE
13.9%
▲ +12bp YoY
Total Assets
$841M
▲ +10.6% YoY
EPS (Diluted)
$6.78
▲ +12.8% YoY
Operating Cash Flow
$133M
▲ +38.8% YoY
Source: XBRL data from LINDSAY CORP FY2025 10-K filing on SEC EDGAR. All figures in USD.
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