Lincoln International
Private-capital adviser for M&A, financing, fundraises, valuations, and transaction opinions.
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Profile
Advises private-capital clients on M&A, financing, fundraises, valuations, opinions, and related disputes, earning much of its advisory revenue at transaction closing. A separate valuation practice provides recurring work, while the public parent operates through a partnership structure controlled by legacy partners.
Advises private-equity firms, company owners, boards, and other private-capital clients on M&A, capital, private-funds, and insurance- and wealth-sector advisory needs. Investment Banking Advisory combines M&A Advisory, Capital Advisory, Private Funds Advisory, and MarshBerry's consulting and member-network services; Valuations and Opinions provides portfolio valuations, transaction and board opinions, and disputes advisory. More than 30 offices serve clients across the Americas, Europe, Middle East, and Asia through industry-specialized global teams.
Earns most Investment Banking Advisory fees when transactions close, making a significant part of revenue dependent on deal timing. Portfolio Valuations adds recurring work involving illiquid debt and equity securities, while client relationships and managing-director retention remain central to execution. Private-equity firms and their portfolio companies are a major source of advisory revenue. The public parent depends on operating-partnership distributions, and high-vote Class C ownership gives legacy controlling partners majority voting power.
Company facts
Categories
Key statistics
Year to date +10.7% · Average volume (30d) 365.6K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior target | Target |
|---|---|---|---|---|
| Aug 12, 2026 | Evercore ISI | Target | $26 | |
| Aug 7, 2026 | Morgan Stanley | Target | $27 | $28 |
| Jun 15, 2026 | Morgan Stanley | Target | $27 | |
| Jun 15, 2026 | Wolfe Research | Target | $29 | |
| Jun 15, 2026 | BMO Capital | Target | $26 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $0.13 | $0.26 | +97.9% | $165.4M | $225.7M | +36.4% | +12.76% |
| May 11, 2026Q1 FY26 | $0.13 | $0.15 | +14.2% | $165.4M | $154.9M | −6.4% | — |
Financial highlights
| 3 quarters | — | — | — | Q1 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | $132.2M | $157.8M | $225.7M | |
| Gross profit | — | — | — | $61.9M | $111.8M | $29.8M | |
| Operating income | — | — | — | $22.9M | $5.9M | −$15.9M | |
| Net income | — | — | — | $24.6M | $1.9M | −$23.0M | |
| Diluted EPS | — | — | — | $0.24 | $0.02 | −$0.01 | |
| Gross margin | — | — | — | 46.8% | 70.8% | 13.2% | |
| Operating margin | — | — | — | 17.3% | 3.8% | -7.0% |
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $250.6M · Total debt $241.8M · Total assets $997.8M · Shareholders' equity $179.5M
Dividends
No dividends on record.
Ownership
Shares outstanding 34.74M · Float 30.03M · 86.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Lawrence James Lawson III | 16.27M | 31.20% | 13D | Aug 14, 2026 |
| FMR LLC | 3.50M | 10.09% | 13F | Aug 13, 2026 |
| Massachusetts Financial Services Co /MA/ | 2.10M | 6.04% | 13F | Aug 3, 2026 |
| Franklin Resources Inc | 1.54M | 4.43% | 13F | Aug 13, 2026 |
| Bamco Inc /NY/ | 1.51M | 4.35% | 13F | Aug 14, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Houlihan Lokey
Broadest overlap in M&A, capital solutions, and valuation advisory.
- Lazard
Global independent rival in M&A, capital solutions, and restructuring.
- Piper Sandler
Direct middle-market rival in M&A, capital advisory, and restructuring.
- Moelis & Company
Global independent rival in M&A, capital markets, and restructuring.
- Jefferies Financial Group
Full-service rival in sponsor M&A, debt advisory, and financing.
- Stifel Financial
Middle-market advisory rival across M&A, private capital, and debt.
- Raymond James Financial
Middle-market M&A and private-capital advisory competitor.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Lincoln International | $24.98 | +0.20% | $864.2M | — | 17.5 | 2.3 | — |
| Houlihan Lokey | $133.02 | 0.00% | $9.30B | 22.4 | 17.5 | 3.7 | −15.6% |
| Lazard | $43.64 | −0.07% | $4.25B | 21.0 | 13.7 | 1.3 | −2.7% |
| Piper Sandler | $75.61 | +0.11% | $5.10B | 17.5 | 15.2 | 2.4 | +25.8% |
| Moelis & Company | $68.40 | +0.02% | $5.07B | 23.8 | 19.5 | 3.2 | +12.1% |
| Jefferies Financial Group | $53.09 | 0.00% | $10.80B | 14.8 | 13.3 | 0.9 | −11.5% |
| Stifel Financial | $81.29 | +0.04% | $12.32B | 9.6 | 11.6 | 1.8 | −1.4% |
| Raymond James Financial | $179.36 | +0.02% | $34.46B | 15.6 | 13.0 | 2.0 | +3.8% |
| Median | 17.5 | 13.7 | 2.0 | −1.4% |