"Waterloo Lily" is the fourth studio album by the British progressive rock band Caravan, released in 1972. The album showcases Caravan's signature blend of progressive rock, jazz, and Canterbury scene influences. The title track, "Waterloo Lily," is a standout piece, featuring intricate instrumental passages and whimsical lyrics. The album also includes other notable tracks such as "Nothing at All" and "The World is Yours." "Waterloo Lily" is praised for its complex arrangements, skilled musicianship, and innovative songwriting, cementing Caravan's reputation as one of the leading bands in the progressive rock genre during the early 1970s.