LINE · Lineage, Inc.
25 customers — 33% of revenue (the year ended December 31, 2025)
“Our 25 largest customers contributed approximately 33% of our total revenues for the year ended December 31, 2025.”
4 customers — 2% of revenue (the year ended December 31, 2025)
“As of December 31, 2025, we had four customers that each accounted for at least 2% of our total revenues for the year ended December 31, 2025.”
Price & Indicators
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AI Brief
TL;DR.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Ask ALVIS about this →Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders NeutralIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
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| Adjusted EBITDA non-GAAP | $1.3B | Twelve Months Ended June 30, 2026 | — |
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| Adjusted EBITDA margin non-GAAP | 23.9% | Six Months Ended June 30, 2026 | — |
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| Adjusted FFO non-GAAP | $399M | Six Months Ended June 30, 2026 | — |
| Adjusted FFO per diluted common share non-GAAP | $1.55 | Six Months Ended June 30, 2026 | — |
| AFFO non-GAAP | $198M | Q2 2026 | — |
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| AFFO per share non-GAAP | $0.76 | Q2 2026 | — |
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| Average occupied economic pallets | 8.16M | Six Months Ended June 30, 2026 | — |
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| Average physical occupied pallets | 7.56M | Six Months Ended June 30, 2026 | — |
| Average physical pallet positions | 10.2M | Six Months Ended June 30, 2026 | — |
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| Cubic feet of capacity | 3.1B | as of June 30, 2026 | — |
| Diluted common shares outstanding | 259M | As of June 30, 2026 | — |
| Economic occupancy percentage | 80% | Six Months Ended June 30, 2026 | — |
| External growth capital investments | $240M | Six Months Ended June 30, 2026 | — |
| Global Integrated Solutions margin | 17.1% | Q2 2026 | — |
| Global Integrated Solutions segment NOI | $61M | Q2 2026 | — |
| Integration capital expenditures | $27M | Six Months Ended June 30, 2026 | — |
| LTM Adj. EBITDA non-GAAP | $1.3B | As of June 30, 2026 | — |
| Net debt non-GAAP | $7.83B | As of June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP Gross debt $7.89B
-$57M Less: Cash and cash equivalents (excluding restricted cash)
= Net debt $7.83B
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| NOI Margin non-GAAP | 31.9% | Six Months Ended June 30, | — |
| Number of facilities | 498 | as of June 30, 2026 | — |
| Number of non-same warehouse sites | 56 | Three Months Ended June 30, 2026 | — |
| Number of same warehouse sites | 423 | Six Months Ended June 30, 2026 | — |
| Number of warehouse sites | 479 | Six Months Ended June 30, 2026 | — |
| Physical occupancy percentage | 74.1% | Six Months Ended June 30, 2026 | — |
| Repair and maintenance expenses | $53M | Q2 2026 | — |
| Same store warehouses (Q2 2026 Pool) non-GAAP | 423 | June 30, 2026 | — |
| Square feet of capacity | 87M | as of June 30, 2026 | — |
| Storage revenue per economic occupied pallet | $62.95 | Six Months Ended June 30, 2026 | — |
| Storage revenue per physical occupied pallet | $67.9 | Six Months Ended June 30, 2026 | — |
| Throughput pallets | 27.46M | Six Months Ended June 30, 2026 | — |
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| Total segment NOI non-GAAP | $849M | Six Months Ended June 30, | — |
| Transaction adjusted EBITDA non-GAAP | $1.3B | As of June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP Adjusted EBITDA $1.3B
-$3M Impact of unstabilized development projects
-$1M Effect of acquisitions & divestitures as if impacting the entire period
= Transaction Adjusted EBITDA $1.3B
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| Warehouse services revenue per throughput pallet | $32.02 | Six Months Ended June 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
REIT - Industrial — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
LINE
this stock
Lineage, Inc.
|
$9.29B | +19.3% | +0.3% | — | 2.7% |
|
PLD
Prologis, Inc.
|
$131.04B | +10.7% | +7.2% | 35.4 | 1.9% |
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PSA
Public Storage
|
$57.21B | +25.3% | +2.7% | 31.1 | 3.2% |
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EXR
Extra Space Storage Inc.
|
$31.34B | +13.6% | +3.7% | 32.8 | 2.2% |
|
EGP
Eastgroup Properties Inc
|
$10.85B | +13.6% | +12.7% | 35.4 | 4.4% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| LINE | +0.7% | -3.3% | +2.0% | -1.4% | +19.3% |
| SPY | -0.4% | +2.9% | +11.6% | +3.0% | +12.8% |
| vs SPY | +1.1% | -6.2% | -9.6% | -4.4% | +6.6% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.