Foreign exchangenegative · 5 filings
“The decrease in gain on foreign currency exchange was due to movements in foreign currency exchange rates against the U.S.”10-Q · Aug 5, 2026 ↗
Lineage, Inc.
LINE
Market read
Lineage, Inc.'s current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 2 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 8 directly disclosed connections are confirming.
What changed
- Revenue increased 0.8% versus the comparable filing period.
- Net margin fell 1.7 percentage points.
Company+0.9% todayVolume comparison unavailable
Market group0 of 2 activeCold Storage REITs · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- Same-warehouse operating costs rose 2.5%, driven by temporary labor wages and warehouse-services growth in international markets.
- Quarterly net interest expense and the proportion of borrowings hedged following 2025 note issuance and hedging instrument maturities.
Invalidation: The isolated read changes if LINE's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 2 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 8 directly disclosed connections are confirming.
Evidence that supports
- Revenue increased 0.8% versus the comparable filing period.
- Operating margin improved 2.3 percentage points.
Evidence that challenges
- Net margin fell 1.7 percentage points.
What would clarify the read
- Same-warehouse operating costs rose 2.5%, driven by temporary labor wages and warehouse-services growth in international markets.
- Quarterly net interest expense and the proportion of borrowings hedged following 2025 note issuance and hedging instrument maturities.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods4
Price observations328
Usable filing statements130
Verified relationships9
Evidence supporting the case
- Operating margin changed +10.1 percentage points in the latest annual period.
- Net margin changed +10.6 percentage points in the latest annual period.
Evidence challenging the case
- Diluted shares increased 19.4% in the latest annual period.
- Foreign exchange has repeated adverse evidence across 5 filings.
- Credit and interest rates has repeated adverse evidence across 4 filings.
Questions before a position
- EV/sales is 67% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 11, 2026
37.756m+2.4%12m-10.0%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2022-12-31$4.9B—$-0.51—
2023-12-31$5.3B+8.4%$-0.73+6.6%
2024-12-31$5.3B-0.0%$-3.70+17.9%
2025-12-31$5.4B+0.3%$-0.43+19.4%
What management says matters
Persistent and emerging business drivers
Credit and interest ratesnegative · 4 filings
“We reported net interest expense of $171 million for the six months ended June 30, 2026, an increase of $44 million, or 34.6%, compared to $127 million for the six months ended June 30, 2025, primarily driven by a decrease in income generated from hedging ins…”10-Q · Aug 5, 2026 ↗
Restructuring and cost reductionsmixed · 3 filings
“For the year ended December 31, 2024, we recorded a $35 million impairment of long-lived assets, primarily related to impairment of an entire warehouse in Kennewick, Washington due to a fire, and a $63 million impairment of finite lived intangible assets rela…”10-K · Feb 25, 2026 ↗
Capital investment and capacitypositive · 2 filings
“This was driven by $333 million in purchases of property, plant, and equipment, primarily for growth capital expenditures.”10-Q · Aug 6, 2025 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 1.6× · EV/sales 2.7×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
37.75+0.9% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for LINE. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment
The latest filing has limited comparable evidence
10-Q filed 2026-08-05 against the comparable filing from 2025-08-06.
OperationsconstructiveEvidence score +2
liquidityneutralEvidence score 0
valuationwithheld
Capital and cash conversion
Cash conversion improved
Capital-spending intensity declined while free-cash-flow margin improved.
- Capital spending YoY
- -1.3%
- Capital spending / revenue
- +11.7%
- Free-cash-flow margin
- +4.9%
- FCF margin change
- +1.8 pts
Capex, revenue, and operating cash flow are matched to the same reported duration. Reported accounting context, not a forecast or trading recommendation.
What improved
- Revenue increased 0.8% versus the comparable filing period.
- Operating margin improved 2.3 percentage points.
What weakened
- Net margin fell 1.7 percentage points.
Filing receipts
“The decrease was primarily due to $7 million of estimated lease exit costs related to a previously acquired facility that were incurred in the three months ended June 30, 2025 and did not recur in 2026, a $5 million decrease in severance costs, and a $3 million favorable impact from fixed asset disposal activity, partially offset by $8 million of impairment loss and legal and administrative fees related to a fire that occurred in our Los Angeles, California warehouse in June 2026.”
“We reported net interest expense of $87 million for the three months ended June 30, 2026, an increase of $20 million, or 29.9%, compared to $67 million for the three months ended June 30, 2025, primarily driven by a decrease in income generated from hedging instruments, the increase of average debt balances, and the extension of our debt maturity via the issuance of new senior unsecured notes in 2025.”
“We reported net interest expense of $171 million for the six months ended June 30, 2026, an increase of $44 million, or 34.6%, compared to $127 million for the six months ended June 30, 2025, primarily driven by a decrease in income generated from hedging instruments, the increase of average debt balances, and the extension of our debt maturity via the issuance of new senior unsecured notes in 2025.”
Historical filing backfill generated after the original filing window. It is not part of Jodie's live track record.
Business ecosystem
The relationships behind LINE
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
TSNTyson Foods, Inc.customerNov 5, 2025 ▾
“During the nine months ended September 30, 2025, we have also began construction on a new greenfield in Dallas, TX under our arrangement with Tyson Foods (see Note 4, Business combinations, asset acquisitions, and divestitures for discussion of the Tyson Food…”
LTMLATAM Airlines Group S.A.investeeMay 6, 2026 ▾
“The net loss in both periods was primarily related to our investment in Emergent Cold LatAm Holdings, LLC.”
Depended on by
ABCLAbCellera Biologics Inc.investeeMay 11, 2026 ▾
“Through our acquisition of Lineage, we obtained patents and patent applications directed toward immune-repertoire sequencing.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 6 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
LINE is currently a Early Follower in the organic co-movement group Cold Storage REITs. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for LINE; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.