Lincoln International (LCLN)
Private-capital adviser for M&A, financing, fundraises, valuations, and transaction opinions.
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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
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 12, 2026 | Evercore ISI | Target | Target: — | Target: $26 |
| Aug 7, 2026 | Morgan Stanley | Target | Target: $27 | Target: $28 |
| Jun 15, 2026 | Morgan Stanley | Target | Target: — | Target: $27 |
| Jun 15, 2026 | Wolfe Research | Target | Target: — | Target: $29 |
| Jun 15, 2026 | BMO Capital | Target | Target: — | Target: $26 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $250.6M · Total debt $241.8M · Total assets $997.8M · Shareholders' equity $179.5M
- Revenue
- $225.7M
- Operating income
- −$15.9M
- Net income
- −$23.0M
HistoryDividendAnnual yield
| Institutions | 25.81% | 26.37M shares | |
|---|---|---|---|
| 71 holders · as of Jun 30, 2026 | |||
| Insiders | 0.80% | 819.7K shares | |
| 4 holders · as of Sep 15, 2026 | |||
| Other | 73.39% | 75.00M shares | |
| remainder | |||
102.19M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (102.19M in the company's Sep 22, 2026 report, 34.74M elsewhere); stakes use the report.
This company has 3 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
FMR LLCInstitution | 3.43% | 3.50M A | as of Jun 30, 2026 |
Massachusetts Financial Services Co /MA/Institution | 2.05% | 2.10M A | as of Jun 30, 2026 |
Franklin Resources IncInstitution | 1.50% | 1.54M A | as of Jun 30, 2026 |
Bamco Inc /NY/Institution | 1.48% | 1.51M A | as of Jun 30, 2026 |
Brown Advisory IncInstitution | 1.29% | 1.32M A | as of Jun 30, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
- 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
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Lincoln International | $24.03 | −0.17% | $857.3M | — | 16.9 | — | — |
| Houlihan Lokey | $130.97 | +0.02% | $9.27B | 22.3 | 17.3 | 3.7 | −15.6% |
| Lazard | $36.60 | −0.03% | $3.55B | 17.6 | 11.5 | 1.1 | −2.7% |
| Piper Sandler | $72.74 | −0.03% | $4.99B | 17.1 | 14.6 | 2.4 | +22.2% |
| Moelis & Company | $58.88 | −0.03% | $4.49B | 21.1 | 16.8 | 2.9 | +12.1% |
| Jefferies Financial Group | $47.39 | −0.02% | $9.73B | 13.4 | 11.8 | 0.8 | −11.5% |
| Stifel Financial | $73.18 | +0.03% | $11.48B | 8.9 | 10.5 | 1.7 | +13.2% |
| Raymond James Financial | $159.39 | −0.13% | $31.73B | 14.4 | 11.5 | 1.9 | +3.8% |
| Median | 17.1 | 11.8 | 1.9 | +3.8% |