LINE · Lineage, Inc.
$34.94
-0.05 (-0.13%)
At close · Oct 6
View the 10-K filed Feb 25, 2026
Return incl. dividend (before tax)
Customer concentration
— top 25 customers 33% of revenue
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.”
Market Cap
$8.23B
Shares
227.71M
Volume · Oct 6
146.84K
Avg daily vol (3M)
953.67K
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$34.98
Open$34.36
Day$34.25–35.36
52W close$31.80–45.10
Avg vol 30d962K
Short int5.2M · 2.3% float · 6.2d
Short vol72%
Last earningsAug 5, 2026
DataJul 2024–Oct 2026
Filing10-Q · Aug 5
Up next
Next earnings call
Nov 4, 2026
Est · unconfirmed
· in 4 wks
filed Aug 5, 2026
call held Aug 5, 2026
Metrics snapshot
Useful current figures from the complete screener profile.
Revenue (TTM)
$5.37B
Trailing 12 months
Net income (TTM)
−$169.00M
Trailing 12 months
Revenue growth YoY
+0.8%
Year over year
Operating margin
3.6%
Trailing 12 months
P / E (TTM)
—
Trailing earnings
FCF yield
3.0%
TTM · current market cap
Return on invested capital
—
Trailing 12 months
Net cash
−$6.16B
Latest balance sheet
Dividend yield
6.2%
Trailing 12 months
Shares change YoY
-0.4%
Year over year · fewer shares
Price change (1Y)
-14.2%
Trailing year
Short interest
2.3%
Latest settlement · 6.2 days to cover
AI Brief
Q2 FY26 earnings call · Aug 5, 2026
Q2 FY26
TL;DR. Lineage reported Q2 results ahead of internal and consensus expectations, with adjusted EBITDA of $320M and AFFO of $198M ($0.76/share), and raised its full-year AFFO per share guidance to $2.80-$3.05 from $2.75-$3.00 while narrowing same-store NOI guidance. However, GAAP results weakened with a $(32)M net loss, same-warehouse NOI fell (2.9)%, warehouse margin compressed 130bps, and the Big Bear fire is expected to be a ~$15M adjusted EBITDA headwind in 2H26.
Bullish
- + Raised full-year AFFO per share guidance to $2.80-$3.05 from $2.75-$3.00
- + Same-store physical occupancy increased 90bps YoY, a positive inflection
- + Q2 adjusted EBITDA of $320M and AFFO of $198M ($0.76/share) ahead of expectations
- + Tightened admin expense guidance to $460-$470M, lower end of prior range
Bearish
- − Q2 GAAP net loss widened to $(32)M from $(7)M YoY
- − Q2 AFFO declined (6.2)% YoY to $198M and AFFO/share fell to $0.76 from $0.81
- − Same-warehouse throughput pallets declined (1.8)% YoY
- − Same-store storage revenue per physical pallet fell (0.7)% YoY
- − Big Bear fire expected to be a ~$15M adjusted EBITDA headwind in 2H26, included in guidance
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceOverall
Neutral
SellHoldBuy
Technical
Sell
Momentum
Very Weak
Sentiment
Very Bullish
Fundamentals
Strong
Quant / Vol
Moderate
Market backdrop
VIX 15.5 · calm
Equity put/call 0.59
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
−10%
below
Price vs 50-day avg
−11%
below
RSI (14)
34
neutral
MACD trend
Negative
52-week position
24%
mid-range
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
−8%
trailing
6-month return
−3%
trailing
YTD return
0%
this year
Relative strength
−14%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $39 › 200d $39 — 50d above 200d
Institutional flow
Accumulating
4 of 331 funds reported for Sep 30 · net +312 sh shares
Insider flow
Accumulating
Net +$1.8M over 90 days · 0% sells
Short interest
Falling
2.30% of float · ▼ -4.4% MoM · 6.2 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
331 holders — near 2-yr high, broad support
Squeeze score
47
elevated · 0–100
Fundamentals
Revenue growth
+0%
Y/Y
EPS growth
+88%
Y/Y
Free cash flow
$196.0M
Balance sheet
$6.0B
net debt
Quant / Vol
risk profile
Volatility
37%
annualized · 1-yr
Max drawdown
−25%
past year
ATR
3.0%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the 8-K filed Aug 5, 2026
Adjusted EBITDA
· full-year 2026
Non-GAAP
Initiated
$1.26B – $1.29B
AFFO per share
· full-year 2026
Non-GAAP
Initiated
$2.80 – $3.05
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Sell
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
−10%
Bearish
Price vs 50-day avg
−11%
Bearish
RSI (14)
34
Neutral
MACD trend
Negative
Bearish
52-week position
24%
Neutral
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Bullish · 4 of 6
Trend (MA cross)
No cross
50d $39 › 200d $39 — 50d above 200d
Institutional flow
Accumulating
4 of 331 funds reported for Sep 30 · net +312 sh shares
Insider flow
Accumulating
Net +$1.8M over 90 days · 0% sells
Short interest
Falling
2.30% of float · ▼ -4.4% MoM · 6.2 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
331 holders — near 2-yr high, broad support
Price context
position in its 52-week range
Range low $32
Now $35 · 24%
Range high $45
vs 200-day avg -10%
vs 50-day avg -11%
Illustrative 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 |
|---|---|---|---|
| Adjusted EBITDA non-GAAP | $634M | Six Months Ended June 30, 2026 | — |
| Adjusted EBITDA Growth non-GAAP | 0.6% | Six Months Ended June 30, 2026 | — |
| Adjusted EBITDA margin non-GAAP | 23.9% | Six Months Ended June 30, 2026 | — |
| 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 | — |
| Adjusted net debt non-GAAP | $6.89B | Q2 2026 | — |
| AFFO non-GAAP | $198M | Q2 2026 | — |
| AFFO per share non-GAAP | $0.76 | Q2 2026 | — |
| Average occupied economic pallets | 8.15M | Q2 2026 | — |
| Average occupied economic pallets (in thousands) | 8.16M | Six Months Ended June 30, 2026 | — |
| Average physical occupied pallets | 7.52M | Q2 2026 | — |
| Average physical occupied pallets (in thousands) | 7.56M | Six Months Ended June 30, 2026 | — |
| Average physical pallet positions | 10.19M | Q2 2026 | — |
| Average physical pallet positions (in thousands) | 10.2M | Six Months Ended June 30, 2026 | — |
| Core FFO non-GAAP | $175M | Six Months Ended June 30, 2026 | — |
| cubic feet of capacity | 3.1B | as of June 30, 2026 | — |
| Development project pipeline remaining spend | $506M | Q2 2026 | — |
| Development project pipeline total cost | $1.63B | Q2 2026 | — |
| Diluted common shares outstanding non-GAAP | 259M | As of June 30, 2026 | — |
| EBITDA non-GAAP | $561M | Six Months Ended June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net Income (loss) -189M
+929M Depreciation and amortization expense
+312M Interest expense, net
+0M Income tax expense (benefit)
= EBITDA 1.05B
|
|||
| EBITDAre non-GAAP | $561M | Six Months Ended June 30, 2026 | — |
| Economic occupancy percentage | 80% | Six Months Ended June 30, 2026 | — |
| Estimated Stabilized NOI from development pipeline | $157M | Q2 2026 | — |
| External growth capital investments | $240M | Six Months Ended June 30, 2026 | — |
| facilities | 498 | as of June 30, 2026 | — |
| FFO non-GAAP | $121M | Six Months Ended June 30, 2026 | — |
| Global Integrated Solutions margin | 17.1% | Q2 FY2026 | — |
| Global Integrated Solutions segment margin non-GAAP | 17.1% | Q2 2026 | — |
| Global Integrated Solutions segment NOI non-GAAP | $61M | Q2 2026 | — |
| Global Warehousing segment NOI non-GAAP | $367M | Q2 2026 | — |
| Gross debt non-GAAP | 7.89B | As of June 30, 2026 | — |
| Integration capital expenditures | $27M | Six Months Ended June 30, 2026 | — |
| LTM Adjusted EBITDA non-GAAP | $1.3B | Twelve Months Ended June 30, 2026 | — |
| LTM NOI achieved from development pipeline | $23M | Q2 2026 | — |
| Net debt non-GAAP | 7.83B | As of June 30, 2026 | — |
| NOI Growth non-GAAP | -1.6% | Three Months Ended June 30, 2026 | — |
| NOI Margin non-GAAP | 31.9% | Six Months Ended June 30, 2026 | — |
| Non-same warehouse NOI | $54M | Six Months Ended June 30, 2026 | — |
| Number of non-same warehouse sites | 56 | Six 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 | — |
| Number of warehouse sites (Same WH) non-GAAP | 423 | Q2 2026 | — |
| Number of warehouse sites (Total Global Warehousing) | 479 | Q2 2026 | — |
| Physical occupancy percentage | 74.1% | Six Months Ended June 30, 2026 | — |
| Repair and maintenance expenses | $53M | Q2 FY2026 | — |
| Same store warehouses (Q2 2026 Pool) non-GAAP | 423 | As of June 30, 2026 | — |
| Same warehouse NOI | $677M | Six Months Ended June 30, 2026 | — |
| Same WH economic occupancy non-GAAP | 81.5% | Q2 2026 | — |
| Same WH NOI Growth non-GAAP | -2.9% | Q2 2026 | — |
| Same WH services revenue per throughput pallet | $32.18 | Q2 2026 | — |
| Same WH storage revenue per physical occupied pallet | $67.28 | Q2 2026 | — |
| square feet | 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 (in thousands) | 27.46M | Six Months Ended June 30, 2026 | — |
| Throughput pallets (Same WH) non-GAAP | 12.28M | Q2 2026 | — |
| Total debt and debt-like obligations non-GAAP | 7.86B | As of June 30, 2026 | — |
| Total segment NOI non-GAAP | $849M | Six Months Ended June 30, 2026 | — |
| Transaction adjusted EBITDA non-GAAP | $1.3B | Q2 2026 | — |
| 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.
|
$8.23B | -0.1% | +0.3% | — | 2.3% |
|
PLD
Prologis, Inc.
|
$124.05B | +0.3% | +7.2% | 33.5 | 2.0% |
|
PSA
Public Storage
|
$50.57B | +8.5% | +2.7% | 27.5 | 3.5% |
|
EXR
Extra Space Storage Inc.
|
$28.17B | +2.1% | +3.7% | 29.5 | 2.3% |
|
EGP
Eastgroup Properties Inc
|
$10.53B | +9.9% | +12.7% | 34.4 | 5.5% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Smart Money
Financials
Filings
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| LINE | -1.3% | -8.4% | -2.5% | +2.5% | -0.1% |
| SPY | +1.2% | +0.6% | +11.6% | +1.6% | +13.6% |
| vs SPY | -2.5% | -9.0% | -14.1% | +0.9% | -13.7% |
Capital returns
Latest dividend
$0.533
/ share · ex Sep 30, 2026
Paid (TTM)
$2.127
/ share · 4 payouts
Dividend yield (TTM, derived)
6.08%
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.