Tearsheet
Investment Highlights Market Valuation Price Chart Return vs. Risk About LINE Interactive Breakdown Better Bets vs. LINE Latest Trefis Analyses Trade Ideas Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Lineage (LINE)

Market Price (10/31/2025): $39.58 | Market Cap: $9.1 Bil
Sector: Real Estate | Industry: Industrial REITs

Lineage (LINE)

Market Price (10/31/2025): $39.58
Market Cap: $9.1 Bil
Sector: Real Estate
Industry: Industrial REITs

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%		  Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 85%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -26%		  Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.6%
2 Attractive yield
Dividend Yield is 4.2%		  
3 Low stock price volatility
Vol 12M is 37%		  
0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -26%
2 Attractive yield
Dividend Yield is 4.2%
3 Low stock price volatility
Vol 12M is 37%
4 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 85%
5 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.6%

Market Valuation & Key Metrics

LINES&P 500
REVENUE GROWTHVERY POOR
Rev LTM ($ Bil)5.3
Rev Chg Q0.9%6.4%
Rev Chg LTM-0.2%5.4%
Rev Chg 3Y Avg-0.2%5.3%
PROFITABILITYVERY POOR
Op Inc LTM ($ Bil)0.2
CFO LTM ($ Bil)0.8
Net Inc LTM ($ Bil)-0.6
Op Mgn LTM4.7%18.7%
CFO/Rev LTM15.8%20.4%
Net Inc Mgn-10.6%12.8%
VALUATIONHIGH
P/S1.73.2
P/CFO10.815.5
P/FCF54.020.6
P/E-16.123.6
STABILITYPOOR
Debt/Equity0.850.21
Cash/Assets0.000.07

LINE Stock

               
           
Factor Drivers of Stock Movement
The -15.2% change in LINE stock from 5/1/2025 to 10/30/2025 was primarily driven by a -15.0% change in the company's P/S Multiple.

501202510302025Change
Stock Price ($)46.0239.02-15.22%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)5304.005316.000.23%
P/S Multiple1.981.68-15.04%
Shares Outstanding (Mil)228.00229.00-0.44%
Cumulative Contribution-15.22%

LTM = Last Twelve Months as of date shown
The -45.8% change in LINE stock from 10/30/2024 to 10/30/2025 was primarily driven by a -3.8% change in the company's Shares Outstanding (Mil).

1030202410302025Change
Stock Price ($)71.9939.02-45.80%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)�5316.00�
P/S Multiple�1.68�
Shares Outstanding (Mil)220.70229.00-3.76%
Cumulative Contribution�

LTM = Last Twelve Months as of date shown
null

null

Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
LINE Return------31%-28%
Peers Return7%50%-24%15%-7%10%44%
S&P 500 Return16%27%-19%24%23%16%110%

Monthly Win Rates [3]
LINE Win Rate----0%33% 
Peers Win Rate52%60%25%42%42%59% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
LINE Max Drawdown------34% 
Peers Max Drawdown-24%-4%-30%-7%-13%-10% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: EGP, FR, TRNO, SMA, PLD.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/30/2025 (YTD)

How Low Can It Go

LINE has limited trading history. Below is the Real Estate sector ETF (XLRE) in its place.

Unique KeyEventXLRES&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-37.9%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven61.0%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-39.3%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven64.7%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven393 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-13.5%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven15.7%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven43 days120 days

Compare to


In The Past

Real Estate Select Sector SPDR Fund (The)'s stock fell -37.9% during the 2022 Inflation Shock from a high on 12/31/2021. A -37.9% loss requires a 61.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Lineage (LINE)

Better Bets than Lineage (LINE)

 LINEBetter Performance than LINE
MetricValueIndustry (Industrial REITs)
Rev Chg LTM-0.2%PLD (10.7%), REXR (10.4%), EGP (11.6%), CUBE (3.1%), FR (9.7%)
Op Mgn LTM4.7%PLD (39.8%), REXR (38.2%), EGP (39.9%), CUBE (43.4%), FR (42.2%)
CFO/Rev LTM15.8%PLD (59.3%), REXR (54.8%), EGP (67.3%), CUBE (56.1%), FR (58.2%)
FCF/Rev LTM3.2%PLD (59.3%), REXR (20.7%), EGP (67.3%), CUBE (56.1%), FR (58.2%)
Total Yield-2.0%PLD (2.8%), REXR (7.7%), EGP (5.8%), CUBE (9.4%), FR (6.2%)
 LINEBetter Performance than LINE
MetricValueAll Other Sectors
Rev Chg LTM-0.2%NVDA (71.6%), AAPL (6.0%), MSFT (15.6%), GOOGL (13.4%), AMZN (10.9%)
Op Mgn LTM4.7%NVDA (58.1%), AAPL (31.9%), MSFT (46.3%), GOOGL (32.2%), AMZN (11.4%)
CFO/Rev LTM15.8%NVDA (46.6%), AAPL (26.6%), MSFT (50.0%), GOOGL (39.3%), AMZN (18.1%)
FCF/Rev LTM3.2%NVDA (43.6%), AAPL (23.5%), MSFT (26.6%), GOOGL (19.1%), AVGO (41.6%)
Total Yield-2.0%NVDA (1.8%), AAPL (2.8%), MSFT (3.3%), GOOGL (3.9%), AMZN (3.0%)
 Best Bets In Real Estate Sector
 LINECTRE WPC ADC NNN OHI O EPRT GLPI EPR FCPT
What You Pay           
P/E-15.930.139.441.919.424.756.824.616.524.922.4
P/EBIT-24.426.220.825.013.116.425.317.310.613.415.2
What You Get           
Rev Chg Q0.9%55.3%8.5%18.7%4.6%11.8%4.2%23.7%3.7%5.3%11.0%
Rev Chg LTM-0.2%29.7%5.6%14.7%4.8%14.0%15.6%24.2%5.4%-0.6%8.3%
Rev Chg 3Y Avg�14.1%5.6%19.5%6.1%3.9%24.7%24.2%8.1%5.8%9.5%
FCF/Rev 3Y Avg�88.4%84.4%73.1%73.6%71.4%71.0%69.3%66.6%65.1%61.3%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 9.6%, alpha of 3.1%, and sharpe of 0.44

Latest Trefis Analyses

Trade Ideas

Select past ideas related to LINE. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
MPW_4302025_Short_Squeeze04302025MPWMedical Properties TrustSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		-8.8%-8.8%-26.6%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
MPW_4302025_Short_Squeeze04302025MPWMedical Properties TrustSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		-8.8%-8.8%-26.6%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1INBXInhibrx Biosciences176.8%409.8%
2PUMPProPetro71.2%16.2%
3RNAAvidity Biosciences43.5%139.6%
4DYNDyne Therapeutics42.8%-0.0%
5GCIGannett39.3%3.8%
6FORMFormFactor38.3%34.7%
7MBXMBX Biosciences35.1%18.2%
8BBNXBeta Bionics33.8% 
9GHGuardant Health33.3%202.5%
10LUMNLumen Technologies32.7%94.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-75.2%5106.3%
2LRNStride-56.1%-35.8%
3NTLAIntellia Therapeutics-52.6%5.2%
4FMCFMC-48.7%-66.6%
5FIFiserv-47.4%-68.3%
6VRNSVaronis Systems-43.8%-21.2%
7THRYThryv-33.4%-44.8%
8NFENew Fortress Energy-30.5%-91.9%
9AKBAAkebia Therapeutics-29.5%10.5%
10UAMYUnited States Antimony-28.9%371.2%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1PRAXPraxis Precision Medicines279.1%161.2%
2INBXInhibrx Biosciences131.0%409.8%
3PUMPProPetro99.6%16.2%
4DYNDyne Therapeutics88.4%-0.0%
5VICRVicor85.4%89.2%
6CELCCelcuity74.6%503.2%
7GLUEMonte Rosa Therapeutics73.5%87.5%
8NVTSNavitas Semiconductor72.1%251.8%
9LUMNLumen Technologies70.3%94.7%
10BALYBallys63.4%4.1%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1PMIPicard Medical-62.9%5106.3%
2LRNStride-53.8%-35.8%
3FMCFMC-51.0%-66.6%
4FIFiserv-48.3%-68.3%
5NFENew Fortress Energy-43.6%-91.9%
6VGVenture Global-41.7% 
7OGNOrganon-40.2%-55.0%
8VRNSVaronis Systems-39.5%-21.2%
9ITGRInteger-38.5%-52.2%
10LENZLENZ Therapeutics-37.9%5.5%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1INBXInhibrx Biosciences176.8%409.8%
2PUMPProPetro71.2%16.2%
3RNAAvidity Biosciences43.5%139.6%
4DYNDyne Therapeutics42.8%-0.0%
5GCIGannett39.3%3.8%
6FORMFormFactor38.3%34.7%
7MBXMBX Biosciences35.1%18.2%
8BBNXBeta Bionics33.8% 
9GHGuardant Health33.3%202.5%
10LUMNLumen Technologies32.7%94.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-75.2%5106.3%
2LRNStride-56.1%-35.8%
3NTLAIntellia Therapeutics-52.6%5.2%
4FMCFMC-48.7%-66.6%
5FIFiserv-47.4%-68.3%
6VRNSVaronis Systems-43.8%-21.2%
7THRYThryv-33.4%-44.8%
8NFENew Fortress Energy-30.5%-91.9%
9AKBAAkebia Therapeutics-29.5%10.5%
10UAMYUnited States Antimony-28.9%371.2%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Lineage

Financials

LINEEGPFRTRNOSMAPLDMedian
NameLineage EastGrou.First In.Terreno .Smartsto.Prologis  
Mkt Price39.02175.6555.8358.5335.00124.2357.18
Mkt Cap8.99.37.46.01.9115.48.2
Rev LTM5,3166987144262538,738706
Op Inc LTM250279301165643,476264
FCF LTM168470416185515,186300
FCF 3Y Avg-404354150675,138354
CFO LTM840470416243515,186443
CFO 3Y Avg-404354205675,138354

Growth & Margins

LINEEGPFRTRNOSMAPLDMedian
NameLineage EastGrou.First In.Terreno .Smartsto.Prologis  
Rev Chg LTM-0.2%11.6%9.7%22.2%8.9%10.7%10.2%
Rev Chg 3Y Avg-14.6%11.4%19.9%10.0%18.1%14.6%
Rev Chg Q0.9%11.8%8.2%19.1%12.9%8.7%10.3%
QoQ Delta Rev Chg LTM0.2%2.8%2.0%4.4%3.1%2.1%2.5%
Op Mgn LTM4.7%39.9%42.2%38.8%25.3%39.8%39.3%
Op Mgn 3Y Avg-39.7%40.9%39.8%27.8%38.1%39.7%
QoQ Delta Op Mgn LTM-0.7%0.3%0.7%0.0%-3.7%0.4%0.2%
CFO/Rev LTM15.8%67.3%58.2%57.1%20.1%59.3%57.7%
CFO/Rev 3Y Avg-64.4%53.7%57.0%28.6%63.0%57.0%
FCF/Rev LTM3.2%67.3%58.2%43.4%20.1%59.3%50.8%
FCF/Rev 3Y Avg-64.4%53.7%41.4%28.6%63.0%53.7%

Valuation

LINEEGPFRTRNOSMAPLDMedian
NameLineage EastGrou.First In.Terreno .Smartsto.Prologis  
Mkt Cap8.99.37.46.01.9115.48.2
P/S1.713.410.414.17.513.211.8
P/EBIT-24.433.622.221.631.525.223.7
P/E-15.937.631.223.7-147.436.027.4
P/CFO10.619.917.824.737.422.321.1
Total Yield-2.0%5.8%6.2%7.4%1.9%2.8%4.3%
Dividend Yield4.2%3.1%3.0%3.2%2.6%0.0%3.0%
FCF Yield 3Y Avg-4.7%5.2%2.7%-4.7%4.7%
D/E0.90.20.30.10.50.30.3
Net D/E0.90.20.30.10.50.30.3

Returns

LINEEGPFRTRNOSMAPLDMedian
NameLineage EastGrou.First In.Terreno .Smartsto.Prologis  
1M Rtn1.0%3.8%8.5%3.1%-7.0%8.5%3.5%
3M Rtn-8.3%8.6%15.6%6.4%4.1%17.4%7.5%
6M Rtn-15.2%9.0%18.2%5.2%0.9%22.8%7.1%
12M Rtn-45.8%4.4%8.1%-1.4%-11.1%4.4%
3Y Rtn-23.2%27.8%12.2%-23.2%23.2%
1M Excs Rtn-3.0%0.4%5.6%-0.2%-10.6%5.0%0.1%
3M Excs Rtn-16.0%0.1%8.3%-0.5%-8.1%10.1%-0.2%
6M Excs Rtn-37.0%-12.8%-3.6%-16.5%-20.8%1.0%-14.6%
12M Excs Rtn-63.7%-14.2%-9.4%-19.4%--7.8%-14.2%
3Y Excs Rtn--49.2%-46.7%-59.5%--50.8%-50.0%

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q1
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/2023
Filing Date8/6/20254/30/20252/26/202511/6/20248/21/20247/26/20247/26/202411/6/20248/21/20247/26/2024
Key Financials Quarterly          
Total Revenue1,3501,2921,3391,3351,3381,3281,3341,3291,3461,333
Ebitda292298196-270309312299283324332
Operating Income6350528510110994120129147
Net Income-60-71-485-68-40-51-39-518
EPS-0.030.01-0.33-2.44-0.34-0.20-0.23-0.18-0.020.08
Key Financials TTM          
Total Revenue TTM5,3165,3045,3405,3355,3295,3375,342---
Ebitda TTM5165335476501,2031,2181,238---
Operating Income TTM250288347389424452490---
Net Income TTM-562-624-664-644-198-135-77---
Growth Rates Quarterly          
Total Revenue Growth0.9%-2.7%0.4%0.5%-0.6%-0.4%----
EBITDA Growth-5.5%-4.5%-34.4%-195.4%-4.6%-6.1%----
Operating Income Growth-37.6%-54.1%-44.7%-29.2%-21.7%-25.9%----
Net Income Growth91.2%100.0%-39.2%-1143.6%-1260.0%-326.0%----
Margins Quarterly          
EBITDA Margin21.6%23.1%14.6%-20.2%23.1%23.5%22.4%21.3%24.1%24.9%
Operating Income Margin4.7%3.9%3.9%6.4%7.5%8.2%7.0%9.0%9.6%11.0%
Net Income Margin-0.4%0.0%-5.3%-36.3%-5.1%-3.0%-3.8%-2.9%-0.4%1.3%
Cash & Debt          
Total Cash81195173409739168---
Total Debt7,6777,0866,8786,98911,3097,15811,049000
Net Debt / (Cash)7,5966,8916,7056,58011,2367,06710,981---
Cash Flows Quarterly          
FCF from Operations258139257186155105231229228108
Cash Flows TTM          
FCF from Operations TTM840737703677720794796---
Returns to Shareholders Quarterly          
Dividends134134145-341111246000
Share Repurchases-0-0-077-025143-013
Return on Invested Capital (ROIC) Quarterly          
ROIC0.7%0.0%0.8%1.8%2.4%2.1%2.0%---
Return on Invested Capital (ROIC) TTM          
ROIC TTM1.2%1.5%1.8%2.1%2.3%2.3%2.5%---

Price Behavior

LINE Betas & Captures as of 9/30/2025

 1M2M3M6M1Y3Y
Beta1.720.920.960.940.760.01
Up Beta-1.391.251.151.181.07-0.04
Down Beta1.01-0.98-0.260.640.570.09
Up Capture85%57%58%25%9%1%
Bmk +ve Days13233574144420
Stock +ve Days11223161117138
Down Capture424%216%199%131%97%67%
Bmk -ve Days8192952107330
Stock -ve Days10203365134158

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity4,034,336
Short Interest: % Change Since 9302025-2.8%
Average Daily Volume1,036,462
Days-to-Cover Short Interest3.89
Basic Shares Quantity229,000,000
Short % of Basic Shares1.8%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/20250.6%-8.7%-9.0%
2/26/20252.3%7.6%6.8%
11/6/2024-7.4%-10.3%-14.0%
SUMMARY STATS   
# Positive211
# Negative122
Median Positive1.4%7.6%6.8%
Median Negative-7.4%-9.5%-11.5%
Max Positive2.3%7.6%6.8%
Max Negative-7.4%-10.3%-14.0%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025806202510-Q 6/30/2025
3312025430202510-Q 3/31/2025
12312024226202510-K 12/31/2024
93020241106202410-Q 9/30/2024
6302024821202410-Q 6/30/2024
123120237262024424B4 12/31/2023
123120221312024DRS/A 12/31/2022

Insider Activity

Expand for More

 

External Quote Links


Prefer one of these to Trefis? Tell us why.