Filing Flows › Lincoln International (LCLN) › Q3 2026 › vs Q3 2025
Lincoln International (LCLN) Q3 2026 vs Q3 2025 (year over year)
Lincoln International's revenue rose $107M (+57%) from $187M in Q3 2025 to $294M in Q3 2026. The biggest changes: Investment Banking Advisory +$98.6M (+70%); Valuations and Opinions +$8.3M (+18%). Operating margin 15.1% against 27.5% (-12.4 pts).
Lincoln International, Q3 2026: revenue $294M (+57% year over year), operating margin 15.1%, net earnings $9.9M, operating cash flow $122M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 15.1% | 27.5% | -12.4 pts |
| Net margin | 3.4% | 27.1% | -23.7 pts |
| Free cash flow margin | 41.1% | 46.0% | -4.9 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Investment Banking Advisory | $240M | $141M | $98.6M | +70% |
| Valuations and Opinions | $53.8M | $45.4M | $8.3M | +18% |
| Revenue | $294M | $187M | $107M | +57% |
| Operating profit | $44.3M | $51.3M | −$7.0M | -14% |
| Costs & expenses | $249M | $135M | $114M | +84% |
| Pre-tax earnings | $45.1M | $53.2M | −$8.2M | -15% |
| Net earnings | $9.9M | $50.6M | −$40.7M | -80% |
| Minority interests | $27.9M | −$285K | $28.2M | — |
| Income tax | $7.2M | $2.9M | $4.4M | +153% |
| Depreciation & amortization | $19.5M | $2.4M | $17.1M | +710% |
| Share-based compensation | $5.5M | $1.5M | $4.0M | +266% |
| Working capital & other | $87.1M | $31.8M | $55.3M | +174% |
| Operating cash flow | $122M | $86.3M | $35.7M | +41% |
| Free cash flow (OCF − capex) | $121M | $85.8M | $34.9M | +41% |
| Capital expenditures | $1.2M | $481K | $768K | +160% |
Questions
How much did Lincoln International's revenue grow year over year in Q3 2026?
Lincoln International's revenue rose $107M (+57%) from $187M in Q3 2025 to $294M in Q3 2026.
What drove Lincoln International's revenue change in Q3 2026?
Investment Banking Advisory +$98.6M (+70%); Valuations and Opinions +$8.3M (+18%).