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Lincoln Electric Holdings, Inc.

LECO Industrials Tools & Accessories

Lincoln Electric Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.2 billion, up 5.60% from fiscal 2024. In the quarter to June 2026, revenue grew 12.0%, EPS grew 12.4%, free cash flow grew 87.7% and total debt fell 8.41%, each against the same quarter a year earlier. Dividend growth for twenty-five consecutive years.

261.13 2.35 +0.91%
Market cap
$14.1B
P/E
25.9×
Fwd P/E
24.2×
Dividend yield
1.21%
F-score
6/9
Altman Z
7.06
Beneish M
−2.53
Dividend safety
93/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 8.31
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — 1 1 — — 1 — — — —
Insider Ownership 1.87%

Capital & Financial Ratios $m

Market Cap 14,100.00
Revenue 4,481.04
Net Income 553.55
Free Cash Flow 545.61
Net Debt 907.61
Current Ratio 1.98 (at or above 1.5: strong)
Debt/Equity 0.74
P/E ratio 25.85
Fwd P/E 24.20
P/S ratio 3.19
P/B ratio 9.18 (above 6: high)
Past 5Y EPS Growth 22.20% (at or above 15%: strong)
This Y EPS Growth 13.70%
Next Y EPS Growth 11.79%
Next Y revenue growth 11.17% (at or above 10%: strong)
Next 5Y EPS Growth 11.81%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.4×, against a ten-year median of 2.6×; over the ten years it ranged from 1.6× in 2016 to 4.0× in 2026.
P/E against its own 10 years 60.93%
10-year low 10-year high
P/S against its own 10 years 90.10%
10-year low 10-year high
P/B against its own 10 years 73.19%
10-year low 10-year high
EV/Sales against its own 10 years 90.44%
10-year low 10-year high
EV/FCF against its own 10 years 86.30%
10-year low 10-year high

Dividends

Payout Ratio 0.32
Annual Dividend Rate 3.16
Annual Dividend Yield 1.21%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 3.18
0.79
0.79
0.79
2025 3.04
0.75
0.75
0.75
0.79
2024 2.88
0.71
0.71
0.71
0.75
2023 2.63
0.64
0.64
0.64
0.71
2022 2.32
0.56
0.56
0.56
0.64
2021 2.09
0.51
0.51
0.51
0.56
2020 1.98
0.49
0.49
0.49
0.51
2019 1.90
0.47
0.47
0.47
0.49
2018 1.64
0.39
0.39
0.39
0.47
2017 1.44
0.35
0.35
0.35
0.39
2016 1.31
0.32
0.32
0.32
0.35
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 394 377 309 242
Receivables 539 482 539 586
Inventory 563 544 633 691
Other 198 242 259 241
1,693 1,645 1,740 1,761
2023 2024 2025 Q'26
Payables 325 297 365 447
ST’ Debt 0 100 144 —
Other 274 325 288 284
755 879 957 888

Compound Annual Growth %

10y 5y 3y
Sales 5.26% 9.78% 4.02%
Cash Flow 7.77% 13.48% 19.92%
Earnings 15.11% 20.36% 3.30%
Book Value 4.66% 13.21% 12.44%

Revenue $m

Mar Jun Sep Dec Year
’26 1,121 1,220 — — —
’25 1,004 1,089 1,061 1,079 4,233
’24 981 1,022 984 1,022 4,009
’23 1,039 1,061 1,033 1,059 4,192
’22 925 970 935 931 3,761
’21 757 826 806 844 3,234
’20 702 591 669 694 2,655
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 102 254 — — —
’25 186 144 237 95 661
’24 133 171 199 96 599
’23 124 199 223 122 668
’22 43 98 130 112 383
’21 45 100 110 110 365
’20 22 104 90 136 351
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 63 223 — — —
’25 163 119 206 53 541
’24 107 149 165 70 490
’23 108 178 198 142 626
’22 25 83 113 93 315
’21 36 84 93 97 309
’20 16 91 78 114 300
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 2.47 2.88 — — —
’25 2.10 2.56 2.21 2.45 9.32
’24 2.14 1.77 1.77 2.47 8.15
’23 2.09 2.36 2.22 2.70 9.37
’22 2.13 2.18 1.87 1.87 8.04
’21 1.23 1.60 0.53 1.25 4.60
’20 0.91 0.45 0.97 1.08 3.42
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 45.54 75.86 72.27 75.50 59.30 110.52 118.17 143.76 169.51 161.11

Analyst estimates 2026–2028

Powerpack
High 80.57 99.59 101.34 98.32 122.51 148.54 150.68 221.14 261.13 252.00
People
People Employees 9,000 11,000 11,000 11,000 11,000 11,000 12,000 12,000 12,000 12,000
Revenue/emp, $m 0.25 0.24 0.28 0.27 0.24 0.29 0.31 0.35 0.33 0.35
Income, $m
Income, $m Revenue 2,275 2,624 3,029 3,003 2,655 3,234 3,761 4,192 4,009 4,233
Gross margin, % 34.58 33.34 33.96 33.55 32.81 33.04 34.05 34.96 36.74 36.25
EBT 277 366 369 368 264 325 593 687 594 675
EBT margin, % 12.19 13.95 12.17 12.27 9.94 10.05 15.76 16.39 14.82 15.96
Net income 198 248 287 293 206 277 472 545 466 521
Depreciation 65 68 72 81 80 81 78 87 88 99
Per share, $
Per share, $ Revenue 33.72 39.92 46.68 48.47 44.53 54.53 64.81 73.07 70.78 76.39
Earnings 2.94 3.76 4.42 4.73 3.46 4.66 8.14 9.50 8.23 9.39
Cash flow 4.63 5.09 5.07 6.51 5.89 6.16 6.61 11.64 10.58 11.93
Capex (0.72) (0.90) (0.84) (0.97) (0.86) (0.94) (1.18) (0.72) (1.92) (2.16)
Free cash flow 3.91 4.19 4.23 5.54 5.03 5.22 5.43 10.91 8.65 9.77
Book value 10.56 14.18 13.68 13.22 13.25 14.57 17.82 22.82 23.44 26.53
Shares, m 67 66 65 62 60 59 58 57 57 55
Valuation, ×
Valuation, × P/E 26.50 24.51 17.80 20.49 33.79 29.93 17.98 22.45 22.78 25.49
P/S 2.31 2.31 1.69 2.00 2.61 2.56 2.26 2.92 2.65 3.14
P/B 7.38 6.50 5.76 7.32 8.77 9.57 8.20 9.37 8.00 9.03
EV/Sales 2.44 2.38 1.80 2.17 2.78 2.72 2.50 3.09 2.87 3.37
EV/FCF 21.01 22.71 19.88 18.96 24.65 28.44 29.88 20.72 23.44 26.35
Cash, $m
Cash, $m Operating cash flow 313 335 329 403 351 365 383 668 599 661
Capex (49) (59) (54) (60) (52) (56) (69) (41) (109) (120)
Free cash flow 264 275 275 343 300 309 315 626 490 541
Balance, $m
Balance, $m Working capital 656 845 700 512 563 534 705 939 766 783
Total debt 704 704 703 712 716 718 1,121 1,103 1,251 1,294
Net debt 286 198 344 513 458 525 924 709 873 985
Shareholders’ equity 712 932 888 819 790 864 1,034 1,309 1,327 1,470
Returns, %
Returns, % ROA 10.64 11.38 12.07 12.42 8.80 11.27 16.36 16.63 13.52 14.27
ROIC 17.76 20.83 19.06 17.40 14.12 20.78 19.54 22.23 18.08 18.28
ROE 24.13 30.10 31.54 34.35 25.62 33.44 49.76 46.54 35.36 37.22
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Lincoln Electric Holdings, Inc. vs peers in Tools & Accessories (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SNA Snap-On Incorporated $18.6B 18.1× 19.1× +4.72% (above 0%: growing) +5.00% (above 0%: growing) +14.13% (above 0%: growing) 51.43% 27.24% Compare
RBC RBC Bearings Incorporated $15.5B 49.5× 49.1× +19.15% (above 0%: growing) +47.71% (above 0%: growing) +40.84% (above 0%: growing) 47.70% 27.10% Compare
LECO Lincoln Electric Holdings, Inc. $14.1B 25.9× 24.2× +12.03% (above 0%: growing) +12.40% (above 0%: growing) +87.67% (above 0%: growing) 36.81% 18.09%
SWK Stanley Black & Decker, Inc. $13.5B 21.5× 15.8× +0.39% (above 0%: growing) +249.25% (above 0%: growing) +418.34% (above 0%: growing) 32.97% 14.10% Compare
TTC Toro Company (The) $9.2B 25.5× 19.5× +8.35% (above 0%: growing) +50.00% (above 0%: growing) −22.43% (below 0%: shrinking) 34.11% 9.40% Compare
TKR Timken Company (The) $7.9B 31.3× 25.8× +7.46% (above 0%: growing) −62.83% (below 0%: shrinking) +3.19% (above 0%: growing) 31.67% 6.73% Compare
KMT Kennametal Inc. $2.4B 7.1× 7.2× +42.63% (above 0%: growing) +964.29% (above 0%: growing) −265.44% (below 0%: shrinking) 58.86% 41.12% Compare
HLMN Hillman Solutions Corp. $1.4B 31.7× 32.0× +9.79% (above 0%: growing) +37.50% (above 0%: growing) +125.12% (above 0%: growing) 47.05% 9.26% Compare
EML Eastern Company (The) $151.3M 18.4× 12.9× −11.89% (below 0%: shrinking) +67.86% (above 0%: growing) +164.03% (above 0%: growing) 20.63% 2.68% Compare
Median of peers $8.5B 23.5× 19.3× +7.91% +48.86% +27.49% 40.58% 11.75%

All 11 Tools & Accessories stocks →

Lincoln Electric Holdings, Inc. (LECO) key facts

  • Strength: Lincoln Electric Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.2 billion, up 5.60% from fiscal 2024.
  • Strength: Net income was $520.5 million, or $9.39 per share (basic), a net margin of 12.3%.
  • Lincoln Electric Holdings, Inc. (LECO) is a Tools & Accessories company in the Industrials sector, listed on Nasdaq.
  • As of October 9, 2026, LECO traded at $261.13, a market capitalization of $14.1 billion.
  • At that price the stock trades at 25.9× trailing-twelve-month earnings and 3.2× sales; its P/E is higher than 61% of its own readings over the past ten years.
  • Lincoln Electric Holdings, Inc. pays an annual dividend of $3.16 per share, a yield of 1.21%, with a payout ratio of 31.6%.
  • Return on equity was 37.2% and debt-to-equity 0.74.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 7.06 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Lincoln Electric Holdings, Inc. (LECO) Latest News

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stockrow.com/LECO · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com