Lincoln Electric Holdings, Inc. logo

Lincoln Electric Holdings, Inc.

LECO

NASDAQIndustrialsManufacturing - Tools & Accessories

Regular session

$282.24

+$0.416 · +0.15%

Aug 24, 11:18 AM ET

LECO company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

81

Deep Value

Momentum

35

Weakening

Sentiment

69

Bullish

Risk resilience

65

Moderate Risk

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Company profile

Company website

Lincoln Electric Holdings, Inc., an enterprise established in Cleveland, Ohio, in 1895, operates globally, focusing on the innovation, production, and sale of equipment and materials for welding, cutting, and brazing applications. The company is organized into three distinct divisions: Americas Welding, International Welding, and The Harris Products Group. Its extensive product portfolio encompasses a broad spectrum of welding machinery, including arc welding power sources, plasma cutters, wire feeding systems, automated robotic welding setups, comprehensive automation solutions, and fume extraction devices. Additionally, Lincoln Electric provides a variety of consumables such as electrodes, fluxes, various welding accessories, and specialized welding and fabrication materials. Beyond welding, the firm manufactures computer-controlled plasma and oxy-fuel cutting systems, along with regulators and torches essential for oxy-fuel welding, cutting, and brazing. It also supplies consumable alloys for the brazing and soldering markets. The company maintains a retail presence within the United States. Furthermore, it fabricates copper and aluminum headers, distributor assemblies, and manifolds specifically for the heating, ventilation, and air conditioning (HVAC) sector in both the U.S. and Mexico. Lincoln Electric serves a wide array of sectors, including general fabrication, energy and process, automotive and transportation, construction and infrastructure, heavy fabrication, shipbuilding, and maintenance and repair. Its offerings are distributed to end-users via direct sales, industrial distributors, retail channels, and independent agents.

Industry
Manufacturing - Tools & Accessories
Sector
Industrials
Headquarters
US
CEO
Steven Hedlund
Listed since
Apr 7, 1994
Employees
12,000

Market position

Day range

Current $282.24

52-week range

Current $282.24

Open
$283.23
Previous close
$281.82
Volume
106.76K
0.28× average
Average volume
383.59K
Average daily volume
Market cap
15.38B USD
Beta
1.22
Market reference 1
50-day average
$265.7
+6.22% above average
200-day average
$259.07
+8.94% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
14.26B USD
P/E (TTM)
27.94×
P/B (TTM)
9.93×
P/S (TTM)
3.44×
EV / EBITDA
17.08×
Earnings yield
3.92%
Free cash flow yield
4.02%
Dividend yield
1.11%

Profitability & efficiency

Gross margin
36.02%
Operating margin
17.58%
Net margin
12.36%
Return on equity
35.42%
Return on assets
13.78%
Return on invested capital
18.58%

Financial health

Debt / equity
0.74×
Current ratio
1.82×
Altman Z-score
7.88
Piotroski F-score
8 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends40%28%17%6%Gross margin, FY2021: 33.04%Gross margin, FY2022: 34.05%Gross margin, FY2023: 35.25%Gross margin, FY2024: 36.87%Gross margin, FY2025: 36.30%Operating margin, FY2021: 14.27%Operating margin, FY2022: 16.28%Operating margin, FY2023: 17.13%Operating margin, FY2024: 15.88%Operating margin, FY2025: 16.90%Net margin, FY2021: 8.55%Net margin, FY2022: 12.56%Net margin, FY2023: 13.01%Net margin, FY2024: 11.63%Net margin, FY2025: 12.30%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 33.04%. Gross margin FY2022 34.05%. Gross margin FY2023 35.25%. Gross margin FY2024 36.87%. Gross margin FY2025 36.30%. Operating margin FY2021 14.27%. Operating margin FY2022 16.28%. Operating margin FY2023 17.13%. Operating margin FY2024 15.88%. Operating margin FY2025 16.90%. Net margin FY2021 8.55%. Net margin FY2022 12.56%. Net margin FY2023 13.01%. Net margin FY2024 11.63%. Net margin FY2025 12.30%.

Income trends

Revenue

4.23B USD+5.54%

Operating income

714.95M USD+12.33%

Net income

520.53M USD+11.68%
Income trends across reported periods4.63B USD3.04B USD1.46B USD−118.83M USDRevenue, FY2021: 3.23B USDRevenue, FY2022: 3.76B USDRevenue, FY2023: 4.19B USDRevenue, FY2024: 4.01B USDRevenue, FY2025: 4.23B USDOperating income, FY2021: 461.67M USDOperating income, FY2022: 612.34M USDOperating income, FY2023: 717.85M USDOperating income, FY2024: 636.46M USDOperating income, FY2025: 714.95M USDNet income, FY2021: 276.58M USDNet income, FY2022: 472.22M USDNet income, FY2023: 545.25M USDNet income, FY2024: 466.11M USDNet income, FY2025: 520.53M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 3.23B USD. Revenue FY2022 3.76B USD. Revenue FY2023 4.19B USD. Revenue FY2024 4.01B USD. Revenue FY2025 4.23B USD. Operating income FY2021 461.67M USD. Operating income FY2022 612.34M USD. Operating income FY2023 717.85M USD. Operating income FY2024 636.46M USD. Operating income FY2025 714.95M USD. Net income FY2021 276.58M USD. Net income FY2022 472.22M USD. Net income FY2023 545.25M USD. Net income FY2024 466.11M USD. Net income FY2025 520.53M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue4.23B USD4.01B USD4.19B USD3.76B USD3.23B USD
Cost of goods sold2.7B USD2.53B USD2.71B USD2.48B USD2.17B USD
Gross profit1.54B USD1.48B USD1.48B USD1.28B USD1.07B USD
Research and development85.55M USD81.82M USD71.24M USD63.21M USD55.97M USD
Selling, general, and administrative735.12M USD683.84M USD703.65M USD587.5M USD418.55M USD
Operating expenses820.67M USD841.48M USD759.85M USD668.42M USD606.94M USD
Interest income6.82M USD
Interest expense61.13M USD42.79M USD44.37M USD29.5M USD22.21M USD
Depreciation and amortization98.55M USD88.24M USD86.67M USD78.06M USD81.15M USD
Operating income714.95M USD636.46M USD717.85M USD612.34M USD461.67M USD
Net income520.53M USD466.11M USD545.25M USD472.22M USD276.58M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
91%
10 beats, 1 miss, 0 met estimates
Average EPS surprise
+6.46%
11 comparable reports
Latest EPS result
2.93
Estimate 2.81 · Beat by 4.27%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates3.052.672.291.91Q1 '25BeatQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 13, 2025: actual 2.57, estimate 2.03, surprise +26.60%, Beat. Q2 2025, reported Apr 30, 2025: actual 2.16, estimate 2.23, surprise -3.14%, Miss. Q3 2025, reported Jul 31, 2025: actual 2.6, estimate 2.31, surprise +12.55%, Beat. Q4 2025, reported Oct 30, 2025: actual 2.47, estimate 2.39, surprise +3.35%, Beat. Q1 2026, reported Feb 12, 2026: actual 2.65, estimate 2.54, surprise +4.33%, Beat. Q2 2026, reported Apr 30, 2026: actual 2.5, estimate 2.42, surprise +3.31%, Beat. Q3 2026, reported Jul 30, 2026: actual 2.93, estimate 2.81, surprise +4.27%, Beat. Q4 2026, reported Oct 29, 2026: actual —, estimate 2.79, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates1.27B1.16B1.04B931.13MQ1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25MissQ1 '26MissQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 13, 2025: actual 1.02B USD, estimate 995.84M USD, surprise +2.63%, Beat. Q2 2025, reported Apr 30, 2025: actual 1B USD, estimate 979.92M USD, surprise +2.50%, Beat. Q3 2025, reported Jul 31, 2025: actual 1.09B USD, estimate 1.04B USD, surprise +4.49%, Beat. Q4 2025, reported Oct 30, 2025: actual 1.06B USD, estimate 1.09B USD, surprise -2.92%, Miss. Q1 2026, reported Feb 12, 2026: actual 1.08B USD, estimate 1.1B USD, surprise -2.00%, Miss. Q2 2026, reported Apr 30, 2026: actual 1.12B USD, estimate 1.07B USD, surprise +4.47%, Beat. Q3 2026, reported Jul 30, 2026: actual 1.22B USD, estimate 1.17B USD, surprise +4.34%, Beat. Q4 2026, reported Oct 29, 2026: actual —, estimate 1.17B USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$303.6

7.57% upside
Past 12 months12-month forecastHigh $340Average $303.6Low $275

Recent analyst actions

10 institutions
Roth CapitalmaintainBuy
Loop CapitalmaintainBuy

LECO news

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

$3.04

2025 complete year+45.5% since 2021

2026 partial: $1.58

* Partial calendar year in the available dividend history.

Corporate action history

DividendUpcoming

Ex-dividend Sep 30, 2026

$0.79

Quarterly

Record Sep 30, 2026 · Payment Oct 15, 2026

Dividend

Ex-dividend Jun 30, 2026

$0.79

Quarterly

Record Jun 30, 2026 · Payment Jul 15, 2026

Dividend

Ex-dividend Mar 31, 2026

$0.79

Quarterly

Record Mar 31, 2026 · Payment Apr 15, 2026

Dividend

Ex-dividend Dec 31, 2025

$0.79

Quarterly

Record Dec 31, 2025 · Payment Jan 15, 2026

Dividend

Ex-dividend Sep 30, 2025

$0.75

Quarterly

Record Sep 30, 2025 · Payment Oct 15, 2025

Dividend

Ex-dividend Jun 30, 2025

$0.75

Quarterly

Record Jun 30, 2025 · Payment Jul 15, 2025

LECO peers

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