Lincoln Electric
LECO
263.17
-12.37
-4.49%
Lincoln Electric
US · LECO
#1160 by market cap
Listed 1970
263.17
-12.37
-4.49%
Live - 5344 symbols - heartbeat 125s ago
· 2026-10-07 19:54
After-hours
263.17
0.00%
- Market cap
- 14.34B
- P/E (TTM)i
- 26.32
- P/Bi
- 9.23
- EPSi
- 9.32
- Div yieldi
- 1.19%
- 52W posi
- 53%
Reader sentiment
Are you bullish or bearish on LECO?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Good
- Altman Z-Score is 7.35, above the 3.0 "safe zone" threshold.
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 8 years
Latest year +5.60% YoY
Margins
- Gross margin
- 36.25%
- Operating margin
- 17.39%
- Net margin
- 12.30%
Key ratios & quality
- Enterprise valuei
- 15.33B
- PEG ratioi
- 7.98
- Altman Z-Scorei
- 7.35
PEG uses trailing P/E against the 3-year net income growth rate (3.30%/yr) since forward earnings estimates aren't available here, so this is not a "forward PEG." Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3.03B | 3.00B | 2.66B | 3.23B | 3.76B | 4.19B | 4.01B | 4.23B |
| Gross profit | 1.03B | 1.01B | 871.34M | 1.07B | 1.28B | 1.47B | 1.47B | 1.53B |
| Selling & admin expenses | 627.70M | 621.49M | 543.80M | 597.11M | 656.64M | 758.91M | 780.59M | 797.99M |
| Research & development | -- | -- | -- | -- | -- | -- | -- | -- |
| Operating profit | 400.82M | 386.10M | 327.54M | 471.50M | 624.12M | 706.54M | 692.32M | 736.26M |
| Pretax profit | 368.66M | 368.49M | 264.04M | 325.00M | 592.83M | 686.87M | 594.15M | 675.45M |
| Tax | 81.67M | 75.41M | 57.90M | 48.42M | 120.60M | 141.62M | 128.04M | 154.92M |
| Net profit | 286.99M | 293.08M | 206.14M | 276.58M | 472.22M | 545.25M | 466.11M | 520.53M |
| Basic EPS | 4 | 5 | 3 | 5 | 8 | 10 | 8 | 9 |
| Diluted EPS | 4.37 | 4.68 | 3.42 | 4.60 | 8.04 | 9.37 | 8.15 | 9.32 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 1.00B | 1.09B | 1.06B | 1.08B | 1.12B | 1.22B |
| Gross profit | 365.45M | 405.55M | 389.31M | 373.95M | 399.13M | 449.00M |
| Selling & admin expenses | 196.67M | 210.86M | 206.82M | 183.65M | 210.81M | 224.87M |
| Research & development | -- | -- | -- | -- | -- | -- |
| Operating profit | 168.78M | 194.69M | 182.49M | 190.30M | 188.32M | 224.13M |
| Pretax profit | 153.24M | 183.56M | 166.00M | 172.66M | 173.35M | 207.88M |
| Tax | 34.75M | 40.16M | 43.37M | 36.64M | 36.97M | 49.36M |
| Net profit | 118.49M | 143.40M | 122.63M | 136.02M | 136.38M | 158.52M |
| Basic EPS | 2 | 3 | 2 | 2 | 2 | 3 |
| Diluted EPS | 2.10 | 2.56 | 2.21 | 2.45 | 2.47 | 2.88 |
Balance sheet
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Total current assets | 1.24B | 1.08B | 1.11B | 1.29B | 1.56B | 1.69B | 1.65B | 1.74B |
| Cash & ST investments | 358.85M | 199.56M | 257.28M | 192.96M | 197.15M | 393.79M | 377.26M | 308.79M |
| Inventory | 361.83M | 393.75M | 381.26M | 539.92M | 665.45M | 562.86M | 544.04M | 633.36M |
| Total assets | 2.35B | 2.37B | 2.31B | 2.59B | 3.18B | 3.38B | 3.52B | 3.78B |
| Total current liabilities | 538.18M | 563.14M | 549.45M | 755.91M | 852.90M | 754.61M | 878.80M | 956.69M |
| Short-term debt | 111.00K | 34.97M | 2.73M | 52.73M | 93.48M | 2.44M | 110.52M | 143.78M |
| Long-term debt | 702.55M | 712.30M | 715.46M | 717.09M | 1.11B | 1.10B | 1.15B | 1.15B |
| Total liabilities | 1,462,233,000.00 | 1,552,136,000.00 | 1,524,203,000.00 | 1,728,398,000.00 | 2,146,505,000.00 | 2,068,445,000.00 | 2,192,709,000.00 | 2,307,783,000.00 |
| Total equity | 887.59M | 819.08M | 790.25M | 863.91M | 1.03B | 1.31B | 1.33B | 1.47B |
| Retained earnings | 2.56B | 2.74B | 2.82B | 2.97B | 3.31B | 3.69B | 3.99B | 4.34B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 1.73B | 1.73B | 1.78B | 1.74B | 1.86B | 1.76B |
| Cash & ST investments | 394.71M | 299.48M | 293.00M | 308.79M | 298.90M | 242.44M |
| Inventory | 574.33M | 621.44M | 671.52M | 633.36M | 693.94M | 690.54M |
| Total assets | 3.63B | 3.73B | 3.82B | 3.78B | 3.90B | 3.81B |
| Total current liabilities | 969.85M | 1.03B | 1.04B | 956.69M | 1.02B | 888.08M |
| Short-term debt | 109.62M | 105.32M | 88.20M | 143.78M | 163.50M | -- |
| Long-term debt | 1.15B | 1.15B | 1.15B | 1.15B | 1.15B | 1.15B |
| Total liabilities | 2,284,904,000.00 | 2,347,756,000.00 | 2,400,472,000.00 | 2,307,783,000.00 | 2,389,135,000.00 | 2,259,130,000.00 |
| Total equity | 1.34B | 1.38B | 1.41B | 1.47B | 1.51B | 1.55B |
| Retained earnings | 4.07B | 4.17B | 4.25B | 4.34B | 4.44B | 4.55B |
Cash flow
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 329.15M | 403.19M | 351.36M | 365.06M | 383.39M | 667.54M | 598.98M | 661.17M |
| Depreciation & amortization | 72.35M | 81.49M | 80.49M | 81.15M | 78.06M | 86.67M | 88.24M | 98.55M |
| Free cash flow | 257.91M | 333.57M | 292.16M | 302.53M | 311.50M | 576.56M | 482.37M | 534.20M |
| Dividends paid | -102.06M | -117.92M | -118.12M | -121.85M | -130.72M | -148.01M | -162.14M | -168.24M |
| Stock buybacks / issuance | -201.65M | -292.69M | -113.46M | -164.53M | -181.29M | -198.77M | -263.75M | -338.31M |
| Ending cash balance | 358.85M | 199.56M | 257.28M | 192.96M | 197.15M | 393.79M | 377.26M | 308.79M |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | 185.69M | 143.83M | 236.69M | 94.97M | 102.17M | 253.76M |
| Depreciation & amortization | 23.78M | 24.46M | 24.74M | 25.56M | 26.01M | 25.97M |
| Free cash flow | 158.74M | 118.39M | 205.05M | 52.02M | 63.01M | 222.33M |
| Dividends paid | -42.98M | -41.93M | -41.57M | -41.76M | -44.07M | -43.40M |
| Stock buybacks / issuance | -106.69M | -127.13M | -52.66M | -51.82M | -56.67M | -76.12M |
| Ending cash balance | 394.71M | 299.48M | 293.00M | 308.79M | 298.90M | 242.44M |
Returns & efficiency
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| ROE %i | 31.57 | 34.38 | 25.65 | 33.44 | 49.75 | 46.54 | 35.36 | 37.22 |
| ROA %i | 12.07 | 12.42 | 8.80 | 11.27 | 16.36 | 16.63 | 13.52 | 14.27 |
| ROIC %i | 18.64 | 19.76 | 14.53 | 18.81 | 25.61 | 24.96 | 19.98 | 20.95 |
| 5-year avg ROE %i | 23.10 | 26.35 | 29.17 | 31.04 | 34.96 | 37.96 | 38.15 | 40.47 |
| EBIT margin %i | 12.75 | 13.05 | 10.77 | 10.74 | 16.55 | 17.45 | 15.89 | 17.17 |
| FCF / sales %i | 8.52 | 11.11 | 11.00 | 9.35 | 8.28 | 13.75 | 12.03 | 12.62 |
| Current ratioi | 2.30 | 1.91 | 2.02 | 1.71 | 1.83 | 2.24 | 1.87 | 1.82 |
| Quick ratioi | 1.40 | 1.02 | 1.15 | 0.82 | 0.87 | 1.24 | 0.98 | 0.89 |
| Debt / assetsi | 29.90 | 31.51 | 31.03 | 29.70 | 37.85 | 32.72 | 35.82 | 34.18 |
| LT debt / equityi | 79.21 | 87.06 | 90.65 | 82.99 | 107.38 | 84.25 | 86.67 | 78.08 |
| Interest coveragei | 21.99 | 16.74 | 13.02 | 15.63 | 21.10 | 16.48 | 14.89 | 14.10 |
| Revenue CAGR (3Y) %i | 6.10 | 9.71 | 0.39 | 2.21 | 7.79 | 16.44 | 7.42 | 4.02 |
| Net income CAGR (3Y) %i | 31.07 | 13.89 | -5.92 | -1.23 | 17.23 | 38.30 | 19.00 | 3.30 |
| FCF CAGR (3Y) %i | -0.56 | 8.29 | 2.26 | 5.46 | -2.26 | 25.43 | 16.83 | 19.70 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | 34.83 | 37.35 | 38.11 | 37.22 | 37.77 | 37.74 |
| ROA %i | 13.17 | 14.08 | 14.03 | 14.27 | 14.31 | 14.68 |
| ROIC %i | 19.83 | 21.41 | 21.46 | 20.95 | 21.37 | 22.71 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 15.75 | 16.68 | 17.23 | 17.17 | 17.20 | 17.24 |
| FCF / sales %i | 13.25 | 12.32 | 13.09 | 12.62 | 10.08 | 12.10 |
| Current ratioi | 1.78 | 1.68 | 1.71 | 1.82 | 1.83 | 1.98 |
| Quick ratioi | 0.95 | 0.83 | 0.76 | 0.89 | 0.88 | 0.93 |
| Debt / assetsi | 34.76 | 33.69 | 32.46 | 34.18 | 33.62 | 30.10 |
| LT debt / equityi | 85.85 | 83.39 | 81.32 | 78.08 | 75.94 | 73.85 |
| Interest coveragei | 13.76 | 14.22 | 14.46 | 14.10 | 14.17 | 14.66 |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
✦ Quant Revenue Concentration how this is computed
Lead segment, long tail
- Americas Welding is the largest reported line at 65.87% of revenue, across 4 reported segments.
- International Welding follows at 20.57%, so the top line still matters most but isn’t the whole story.
Revenue breakdown most recent period
Business
Americas Welding65.87%
International Welding20.57%
The Harris Products Group16.96%
Quote time 2026-10-07 19:54:59 · For reference only, not investment advice and not tailored to your situation.