Lineage, Inc.LINE
NasdaqGS•Real Estate•REIT - Industrial
Lineage, Inc. is the world's largest global temperature-controlled warehouse REIT with a network of over 500 strategically located facilities totaling approximately 88 million square feet and approximately 3.1 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. 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 incorporated in 2015 and is based in Novi, United States.
Lineage, Inc. (LINE) reported trailing twelve months revenue of $5.36B as of March 2026, a 19.2% decline year-over-year. Quarterly revenue reached $1.30B, reflecting a contraction in sales.
Lineage, Inc. reported a TTM net loss of $148.00M, with quarterly EBITDA of $269.00M. The operating margin contracted from 4.3% to 2.8%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (2.8%) and net margin (-3.5%) indicates moderate non-operating costs. Net margin has narrowed from 0.2% a year ago, reflecting increased costs or interest expense.
LINE trades at a P/S of 1.3x. The price-to-book ratio of 0.9x suggests the stock trades below its book value.
The company reported negative free cash flow of $-55.00M, indicating cash consumption over the period. The balance sheet shows $19.05B in total assets with $6.26B in long-term debt against $8.09B in stockholders equity for a debt-to-equity ratio of 0.8. Data based on the most recent quarterly reports.
Competitive analysis based on 8 quarters of fundamental data
Operating margins are under pressure, averaging -1.7%. The business may lack pricing power or face rising costs.'
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
5 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 8 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
FCF consistently trails net income (avg -0.1x) — earnings may be inflated by non-cash items or aggressive accounting.
Debt-to-equity has risen 29.5% recently — increasing financial risk even if the current ratio is manageable.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 3 of the last 8 quarters — occasional cash consumption.
Shares outstanding increased 40.1% — significant dilution, likely from stock compensation or capital raises.