TacticScaleWhat Lindsay Does & How It Makes Money (LNN)
Updated October 2026 · reflects Lindsay's latest reported financials
Maker of farm irrigation systems and highway safety products. It makes money mainly by selling irrigation systems, replacement parts and remote monitoring/control technology to farmers through its Irrigation segment.
How Lindsay makes money
It makes money mainly by selling irrigation systems, replacement parts and remote monitoring/control technology to farmers through its Irrigation segment. Its Infrastructure segment sells or supplies road safety products and Road Zipper movable barrier systems for highway construction and traffic management.
What Lindsay does
Lindsay Corporation, founded in 1955 and headquartered in Omaha, Nebraska, operates in two segments: Irrigation and Infrastructure. The Irrigation segment is the core business. It makes center pivot and lateral move irrigation systems under the Zimmatic brand and hose reel travelers under the Perrot brand. It also sells replacement parts, steel tubing, and a growing set of technology offerings, including variable rate irrigation, soil moisture sensors, weather stations, GPS guidance, remote monitoring and irrigation scheduling tools, plus industrial IoT solutions under the Elecsys brand. The Infrastructure segment focuses on highway safety. Its flagship Road Zipper System uses a barrier transfer machine to move concrete-and-steel barriers for work zones and traffic lane management. The segment also offers crash cushions, end terminals, specialty barriers, preformed road marking tape and rail signaling products. Together, the two segments give Lindsay exposure to agricultural water efficiency and to transportation infrastructure spending in the U.S. and internationally.
Products & services
- Zimmatic center pivot and lateral move irrigation systems
- Perrot hose reel travelers
- Irrigation controls, sensors and remote monitoring
- Elecsys industrial IoT and data systems
- Road Zipper movable barrier system
- Crash cushions and end terminals
What is Lindsay worth?
On an owner-earnings DCF, Lindsay's most-likely value is about $109 versus a recent price near $112 (3% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$66) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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