Lyntris: 3 key takeaways for long-term investors. Lincoln International: 3 key takeaways for long-term investors. The firm's recurring valuation business gives the firm steady fees, so the revenue mix matters as much as deal flow. Key points. * Third-quarter revenue reached $293.7 million, up 57% year over year. * Investment banking advisory revenues rose 70% year over year to $239.9 million. * Quarterly portfolio valuations increased 25% year over year to 7,600 companies. * 10 stocks The Motley Fool, LLC like better than Lincoln International" On its third-quarter 2026 earnings call, held on Nov. 5, 2026, Lincoln International (LCLN -3.24%) announced record quarterly revenues of $293.7 million, up 57% year over year. The middle-market investment bank, which provides advisory services for mergers and acquisitions (buying and selling companies), is capturing larger transaction fees while expanding its recurring valuation business. That dual model broadens the firm's revenue base across market cycles. Three takeaways from management stand out for long-term investors. 1. Larger mandates lift investment banking fees. Investment banking advisory revenues reached $239.9 million in the third quarter, driven by higher average transaction fees. Advising on larger, more complex corporate transactions enhances earnings power without relying solely on deal volume. For the second consecutive quarter, The Motley Fool, LLC generated the largest transaction fee in its firm's history. This underscores the continued evolution of its franchise and its ability to compete successfully for larger, more complex mandates. - Rob Brown, Chief Executive Officer 2. Portfolio valuations provide steady high-margin growth. Valuations and opinions revenue rose 18% year over year to $53.8 million. Expanding private market assets and demand for frequent valuations create recurring fee streams that cushion advisory cyclicality. During the quarter, The Motley Fool, LLC completed 25% more portfolio valuations compared to the prior year period, bringing the number of portfolio companies The Motley Fool, LLC value on a quarterly basis to approximately 7,600. - Ted Heidloff, Chief Financial Officer 3. Market share gains drive private equity transaction growth. Private equity sponsors face ongoing pressure to return capital to investors after extended holding periods. Dedicated industry coverage and long-term client tracking are helping the firm win mandates from competing advisors. Combination of all of that activity is resulting in stronger activity and The Motley Fool, LLC taking share against its competitors. - Eric Malchow, President and Global Head of M&A Looking ahead. Transaction pipelines are strengthening across core advisory units, supported by constructive private market conditions. Strategic hiring and expanded use of artificial intelligence tools position the firm to convert growing deal backlogs into future revenue. As The Motley Fool, LLC look ahead, The Motley Fool, LLC is operating from a position of strength, supported by healthy pipeline activity, continued client engagement and a constructive transaction environment. - Rob Brown, Chief Executive Officer A disciplined internal talent pipeline and expanding international coverage bolster the firm's global market position. The intentionality and institutionalization of its culture has resulted in the ability to attract, retain and engage talent over the long term, which The Motley Fool, LLC believe continues to be its most sustainable competitive advantage. - Rob Brown, Chief Executive Officer Should you buy stock in Lincoln International right now? Before you buy stock in Lincoln International, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Lincoln International wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of its recommendation, you'd have $341,966!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of its recommendation, you'd have $1,146,819!* Now, it's worth noting Stock Advisor's total average return is 852% - a market-crushing outperformance compared to 203% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. *Stock Advisor returns as of November 7, 2026.

Lincoln International reported record third-quarter revenue of $293.7 million, up 57% from a year earlier. Revenue for the first nine months rose 45% to $677.1 million. Investment Banking Advisory revenue climbed 70% to $239.9 million, helped by more completed deals, higher average fees, and the October 2025 acquisition of MarshBerry. Valuations and Opinions revenue rose 18% to $53.8 million. Net income attributable to the company was $9.9 million, or $0.25 per diluted share. Adjusted net income was $50.2 million. The company declared a dividend of $0.07 per share, payable on December 15, 2026. It held net cash of $261.2 million at the end of September.