diff --git a/math/py-linearmodels/Makefile b/math/py-linearmodels/Makefile
index d4f2d0b99187..9d1defd7fbfe 100644
--- a/math/py-linearmodels/Makefile
+++ b/math/py-linearmodels/Makefile
@@ -1,43 +1,43 @@
 PORTNAME=	linearmodels
-DISTVERSION=	5.2
+DISTVERSION=	5.3
 CATEGORIES=	math python # statistics
 MASTER_SITES=	PYPI
 PKGNAMEPREFIX=	${PYTHON_PKGNAMEPREFIX}
 
 MAINTAINER=	yuri@FreeBSD.org
 COMMENT=	Linear Panel, Instrumental Variable, Asset Pricing and other models
 WWW=		https://bashtage.github.io/linearmodels/
 
 LICENSE=	BSD3CLAUSE
 LICENSE_FILE=	${WRKSRC}/LICENSE.md
 
-PY_DEPENDS=	${PYTHON_PKGNAMEPREFIX}formulaic>=0.6.1:math/py-formulaic@${PY_FLAVOR} \
+PY_DEPENDS=	${PYTHON_PKGNAMEPREFIX}formulaic>=0.6.5:math/py-formulaic@${PY_FLAVOR} \
 		${PYTHON_PKGNAMEPREFIX}mypy_extensions>=0.4:devel/py-mypy_extensions@${PY_FLAVOR} \
 		${PYNUMPY} \
 		${PYTHON_PKGNAMEPREFIX}pandas>=1.1.0:math/py-pandas@${PY_FLAVOR} \
 		${PYTHON_PKGNAMEPREFIX}property-cached>=1.6.3:devel/py-property-cached@${PY_FLAVOR} \
 		${PYTHON_PKGNAMEPREFIX}pyhdfe>=0.1:math/py-pyhdfe@${PY_FLAVOR} \
 		${PYTHON_PKGNAMEPREFIX}scipy>=1.5.0:science/py-scipy@${PY_FLAVOR} \
 		${PYTHON_PKGNAMEPREFIX}statsmodels>=0.12.0:math/py-statsmodels@${PY_FLAVOR}
-BUILD_DEPENDS=	${PYTHON_PKGNAMEPREFIX}setuptools_scm>0:devel/py-setuptools_scm@${PY_FLAVOR} \
+BUILD_DEPENDS=	${PYTHON_PKGNAMEPREFIX}setuptools_scm7>=7.0.0:devel/py-setuptools_scm7@${PY_FLAVOR} \
 		${PY_DEPENDS}
 RUN_DEPENDS=	${PY_DEPENDS}
 TEST_DEPENDS=	${PYTHON_PKGNAMEPREFIX}black>0:devel/py-black@${PY_FLAVOR} \
 		${PYTHON_PKGNAMEPREFIX}coverage>0:devel/py-coverage@${PY_FLAVOR} \
 		${PYTHON_PKGNAMEPREFIX}flake8>0:devel/py-flake8@${PY_FLAVOR} \
 		${PYTHON_PKGNAMEPREFIX}isort>0:devel/py-isort@${PY_FLAVOR} \
 		${PYTHON_PKGNAMEPREFIX}matplotlib>0:math/py-matplotlib@${PY_FLAVOR} \
 		${PYTHON_PKGNAMEPREFIX}pytest-cov>0:devel/py-pytest-cov@${PY_FLAVOR} \
 		${PYTHON_PKGNAMEPREFIX}pytest-xdist>0:devel/py-pytest-xdist@${PY_FLAVOR} \
 		${PYTHON_PKGNAMEPREFIX}seaborn>0:math/py-seaborn@${PY_FLAVOR} \
 		${PYTHON_PKGNAMEPREFIX}xarray>=0.13:devel/py-xarray@${PY_FLAVOR}
 
 USES=		python shebangfix
 USE_PYTHON=	distutils cython autoplist pytest # 14 tests fail, see https://github.com/bashtage/linearmodels/issues/550
 
 TEST_ENV=	${MAKE_ENV} PYTHONPATH=${STAGEDIR}${PYTHONPREFIX_SITELIBDIR}
 
 post-install:
 	@${STRIP_CMD} ${STAGEDIR}${PYTHON_SITELIBDIR}/linearmodels/panel/_utility${PYTHON_EXT_SUFFIX}.so
 
 .include <bsd.port.mk>
diff --git a/math/py-linearmodels/distinfo b/math/py-linearmodels/distinfo
index 7b7c3fa37a18..c0f582e492b4 100644
--- a/math/py-linearmodels/distinfo
+++ b/math/py-linearmodels/distinfo
@@ -1,3 +1,3 @@
-TIMESTAMP = 1694242737
-SHA256 (linearmodels-5.2.tar.gz) = 1758e8d163c28d235320b2e9ec1578ace2f4532b0a9195af2508da61aeb5b482
-SIZE (linearmodels-5.2.tar.gz) = 1822967
+TIMESTAMP = 1703270450
+SHA256 (linearmodels-5.3.tar.gz) = b4a34faa68be92d36e2fc1fe644d211d19ac91baea655bc9c6b198b179baf8d1
+SIZE (linearmodels-5.3.tar.gz) = 1822901