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MARKETS / NASDAQ / LINE
NASDAQ · REAL ESTATE INVESTMENT TRUSTS · LARGE CAP

Lineage, Inc. LINE

4 fiscal years on record · USD · FY2025 reported · SEC filings only
$5.4B
▲ 0.3% YoY
$-100.0M
$196.0M
▲ 1533.3% YoY
In brief

What this company does

Lineage, Inc. stores a wide variety of frozen and perishable food and other products, including seafood, packaged foods, proteins, fruits and vegetables, and dairy, in its temperature-controlled warehouses at all stages of production from processing of raw materials to assembly of finished products. As of December 31, 2025, the company operated 501 warehouses comprising approximately 88 million square feet and 3.1 billion cubic feet of capacity, with 326 in North America, 89 in Asia-Pacific, and 86 in Europe. As of December 31, 2025, it served more than 11,000 customers around the world across numerous commodity categories in the food supply chain. As of December 31, 2025, it employed approximately 24,000 people worldwide. The company organizes its business into two segments: Global warehousing and Global integrated solutions. The Global warehousing segment utilizes the company's industrial real estate properties to provide temperature-controlled warehousing storage and services, and represented approximately 86% of total NOI for the year ended December 31, 2025. The Global integrated solutions segment complements warehousing with supply chain services that facilitate the movement of products through the food supply chain, generating cost savings for customers and additional revenue for the company, and represented approximately 14% of total NOI for the year ended December 31, 2025.

Written from the business description in Lineage, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 25 February 2026. Every sentence was checked against that document before publication.

Growth
USD 5.4B
Revenue, FY2025 · full 4-year series below
Revenue $B Net income $B
FY2025 · Revenue 5.4 · Net income -0.1
2.00B4.00B-0.25B-0.50B2022202320242025
Compound annual growth
+2.8%
+50.9%
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−2 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating 3.4% · Net -2.1%
2%4%6%-5%-10%2022202320242025
ROE
FY2025 · ROE -1.2%
-5%2022202320242025

Each USD of equity lost 1 cents this year.

Cash & shareholders
USD 619.0M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 196.0
80M160M-200M2022202320242025
Net buybacks $M Dividends $M
FY2025 · Dividends 537.0 · Net buybacks 82.0
250.0M500.0MDividendsNet buybacks2022202320242025
Dividends paidUSD 537.0M
Net buybacksUSD 82.0M
Share of profit-619.0%
Consecutive raises1 years (since the 2024 share-count change)

USD 537.0M in dividends and USD 82.0M in buybacks went back to shareholders in a year without profit.

Total assetsUSD 19.2B
EquityUSD 8.2B
CashUSD 66.0M
Gross debtUSD 6.1B
Net debtUSD 6.0B
Current ratio0.80×

Net debt stands at 73% of equity.

The 4-year record
4 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022
Revenue $B5.45.35.34.9
Operating income $B0.2−0.40.40.3
EBITDA $B1.10.51.21.0
Income tax $B−0.0−0.1−0.00.0
Net income $B−0.1−0.7−0.1−0.1
Free cash flow $B0.20.00.0−0.3
EPS, diluted $−0.43−3.70−0.73−0.51
Dividend / sh $2.110.910.55·
Payout %−537−35−60−286
ROE %−1.2−9.7−1.5·
Shares out B0.230.230.16·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 14 reconciliationsAUDITED

Reconciled in 4 of 19 fiscal years. 77 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityReal Estate Investment Trusts
Listed onNASDAQ
Incorporated inMaryland
Fiscal year endsDecember 31
Data on record since2022

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