Who are Lincoln International's main competitors?

Named competitors: Houlihan Lokey (HLI), William Blair (private or unlisted), Robert W. Baird (private or unlisted), Harris Williams (private or unlisted), Piper Sandler (PIPR), Stifel Financial (SF). The cockpit's measured peer set (industry) also includes Oshidori International (0622.HK), Aozora Bank (8304.T), Shanxi Securities (002500.SZ), CMC Markets (CMCX.L), flatexDEGIRO (FTK.DE), Northeast Securities (000686.SZ).

Is Lincoln International expensive compared with its peers?

On forward p/e it trades at 18.3× against a peer median of 13.1×, 6th most expensive of 16 in its peer set.

← CockpitCompetitor Analysis › LCLN Lincoln International, Inc. Class AOpen in the cockpit ↗

Lincoln International, Inc. Class ALCLNCompetitor analysis, valuation and peers

United States · USD·Financials›Investment Banks/Brokers

Provides global mid-market M&A advisory, valuation and fairness opinion services to companies and financial sponsors.

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$2.65B

US dollars, full cap

Free float

90%

of shares outstanding

$/day

$8.14M

20-day average traded

Fwd P/E

18.3×

forward earnings

ROIC−WACC

n/a

WACC 18.7%

Hurdle

n/a

no reverse DCF

Next earnings

117 days

3 Mar 2027

Close · USD$25.96

1D-3.2%

1W+4.0%

1M+6.6%

3M+7.1%

6Mn/a

YTDn/a

1Yn/a

ATR %5.0%

52w lowhigh9.6% off high

What Lincoln International does

Provides global mid-market M&A advisory, valuation and fairness opinion services to companies and financial sponsors.

Earns most from success fees paid when a client's sale or financing closes, which makes revenue lumpy and tied to deal volumes, with valuation and opinion work providing steadier fees through the cycle.

Products and services

M&A advisory
Valuation/fairness opinions
Debt advisory

Customers

Mid-market companies
Private equity sponsors

Where it sits in the supply chain

Financial services
Mid-market M&A advisory and valuation
Corporate and private equity clients

What could go right

Mid-market M&A deal volume growth
Private equity dry-powder deployment

What could go wrong

Deal volume cyclicality
Key-person/banker retention risk

Moat: narrow (brand, scale, distribution). Global mid-market sector coverage and banker relationships versus smaller regional boutiques.

Headquarters: Chicago, Illinois, United States · Founded: 1996 · Employees: 1,455

Named competitors

Houlihan Lokey HLI
William Blair private or unlisted
Robert W. Baird private or unlisted
Harris Williams private or unlisted
Piper Sandler PIPR
Stifel Financial SF
Moelis & Company MC
Perella Weinberg Partners PWP

Lincoln International at a glance

Size Lincoln International (LCLN) is a United States Financials company (Investment Banks/Brokers) with a market value of $2.65B, the 1617th largest of 3,117 United States companies the cockpit tracks. Shares closed at $25.96 on 6 Nov 2026.

Growth Revenue grew 35.4% over the last twelve months (peer median +11.1%); the operating margin is 27.6% (peer median 32.5%).

Valuation It trades at 18.3× forward earnings against a peer median of 13.1× (6th most expensive of 16).

Short interest Short interest is 6.4% of the free float (15 Oct 2026).

Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).

Lincoln International financials

Reported figures in USD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2021	FY2020
Revenue	n/a	$784M	$579M	$641M	$325M
Revenue growth	—	+35%	-10%	+97%	—
Gross profit	n/a	$720M	$545M	$622M	$308M
EBITDA	n/a	$254M	$172M	$348M	$131M
Net income	n/a	$214M	$161M	$321M	$128M
Free cash flow	n/a	$214M	$141M	$358M	$132M
Capital expenditure	n/a	$1.89M	$8.61M	$6.44M	$23.0M
Total debt	$242M	$419M	$150M	$127M	$90.2M

Quarterly statements and history in the cockpit →

Lincoln International competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Lincoln International is the large dot.

Lincoln International competitors and peer comparison

Head to head with its named competitors (LCLN vs HLI vs PIPR vs SF)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
Lincoln International LCLN	$2.65B	n/a	+35%	28%	18.3×	n/a
Houlihan Lokey HLI	$10.1B	-5%	0%	20%	18.0×	n/a
Piper Sandler Companies PIPR	$4.65B	-19%	+20%	21%	14.6×	n/a
Stifel Financial SF	$10.7B	-7%	+8%	22%	10.3×	n/a
Moelis & MC	$4.62B	-13%	+14%	18%	16.9×	n/a
Perella Weinberg Partners PWP	$1.35B	-26%	+2%	6%	9.6×	n/a

How Lincoln International compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Lincoln International against its 20 peers (data as of 6 Nov 2026)
Measure	LCLN	Peer median	Rank in peer set
1-month return	+6.6%	-2.9%	3rd highest of 21
Distance from 52-week high	-9.6%	-24.5%	3rd highest of 21
Revenue growth (TTM)	+35.4%	+11.1%	5th highest of 21
Operating margin	27.6%	32.5%	7th lowest of 20
Forward P/E	18.3×	13.1×	6th most expensive of 16

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
Lincoln International LCLN	United States	$2.65B	n/a	+35%	28%	18.3×	n/a	n/a
Oshidori International 0622.HK	Hong Kong	$2.67B	+52%	+71%	47%	n/a	n/a	n/a
Aozora Bank 8304.T	Japan	$2.60B	+17%	+12%	29%	14.4×	n/a	n/a
Shanxi Securities 002500.SZ	China	$2.73B	-10%	-3%	28%	16.4×	n/a	n/a
CMC Markets CMCX.L	United Kingdom	$2.54B	+79%	+16%	27%	10.5×	n/a	n/a
flatexDEGIRO FTK.DE	Germany	$2.78B	-27%	+20%	45%	11.1×	n/a	n/a
Northeast Securities 000686.SZ	China	$2.52B	-17%	+1%	23%	11.1×	n/a	n/a
Yongan Futures 600927.SS	China	$2.83B	-12%	-139%	n/a	24.3×	n/a	n/a
Guosheng Securities 002670.SZ	China	$2.92B	-20%	-11%	11%	n/a	n/a	n/a
Central Depository Services (India) CDSL.NS	India	$2.95B	+5%	+3%	50%	52.1×	n/a	n/a
TP ICAP TCAP.L	United Kingdom	$2.97B	-1%	+4%	11%	8.9×	n/a	n/a
Compagnie Financiere Tradition CFT.SW	Switzerland	$2.37B	-15%	+3%	14%	13.1×	n/a	n/a
UOB-Kay Hian U10.SI	Singapore	$2.36B	-29%	+36%	42%	9.4×	n/a	n/a
President Securities 2855.TW	Taiwan	$2.34B	+24%	+796%	32%	n/a	n/a	n/a
HUAXI Securities 002926.SZ	China	$3.01B	-12%	+10%	36%	11.4×	n/a	n/a
Tata Investment TATAINVEST.NS	India	$3.06B	-22%	+18%	89%	n/a	n/a	n/a
Plus500 PLUS.L	United Kingdom	$3.12B	-26%	+3%	41%	10.4×	n/a	n/a
Minmetals Capital 600390.SS	China	$3.15B	-11%	-62%	60%	51.9×	n/a	n/a
Angel One ANGELONE.NS	India	$3.20B	+3%	+21%	28%	23.1×	n/a	n/a
Central China Securities 601375.SS	China	$2.19B	-6%	+35%	32%	29.3×	n/a	n/a
Metaplanet 3350.T	Japan	$2.05B	-27%	+290%	62%	n/a	n/a	n/a

Questions

Who are Lincoln International's main competitors?: Named competitors: Houlihan Lokey (HLI), William Blair (private or unlisted), Robert W. Baird (private or unlisted), Harris Williams (private or unlisted), Piper Sandler (PIPR), Stifel Financial (SF). The cockpit's measured peer set (industry) also includes Oshidori International (0622.HK), Aozora Bank (8304.T), Shanxi Securities (002500.SZ), CMC Markets (CMCX.L), flatexDEGIRO (FTK.DE), Northeast Securities (000686.SZ).
Is Lincoln International expensive compared with its peers?: On forward p/e it trades at 18.3× against a peer median of 13.1×, 6th most expensive of 16 in its peer set.