Lincoln Electric Holdings (LECO) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Lincoln Electric Holdings

NasdaqGS•Industrials•Tools & Accessories

$255.96-1.02(<0.01%)Pre-market

Market Cap

$15.48B

P/E

26.9x

P/S

3.3x

P/B

10.0x

Lincoln Electric Holdings, Inc., through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products in the United States and internationally. It operates in three segments: Americas Welding, International Welding, and The Harris Products Group. The company offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, specialty gas regulators, and education solutions; and a portfolio of automated solutions and system integration services for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business. It also provides mobile power solutions, including vehicle-mounted compressors, generators, welders, hydraulics, charger/boosters, and electrified power equipment; automated welding system and solutions; and specialty welding consumables, wear plates, and maintenance and repair services for alloy and wear-resistant products, as well as develops and integrates autonomous guided vehicles and mobile robots, custom assembly and test systems, and proprietary manufacturing execution system software. The company serves general fabrication, oil and gas, power generation, process, automotive and transportation, and construction and infrastructure industries, as well as heavy fabrication, ship building, and maintenance and repair markets. It sells its products directly to users of welding products, including OEMs, manufacturers, and integrators, as well as through industrial distributors, retailers, and agents. Lincoln Electric Holdings, Inc. was founded in 1895 and is headquartered in Cleveland, Ohio.

How this company scores

GoodMetricSide Score: 74/100

Strongest: Profitability (21/25); weakest: Balance Sheet & Red Flags (14/25).

Profitability21/25

Growth21/25

Balance Sheet & Red Flags14/25

Cash & Earnings Quality18/25

Strengths

Strong marginsHigh ROECash-backed earningsConsistent free cash flow

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 26.9x5y range 20.7x – 42.3x

Currently near its 20-quarter median.

P/S · 3.3x5y range 2.6x – 3.6x

Currently near its 20-quarter median.

P/B · 10.0x5y range 7.9x – 13.5x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $15.48B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $4.64B
Q. Revenue: $1.22B
TTM EBITDA: $906.48M
TTM Op. Income: $802.52M
Q. Op. Income: $211.38M
TTM Net Income: $575.27M
Q. Net Income: $144.35M
EPS: $2.65
Shares Out.: $54.41M

$4.64B in TTM revenue grew 11.1% YoY, reaching $1.22B last quarter. TTM EBITDA of $906.48M and TTM operating income of $802.52M show growth is flowing through to the bottom line. TTM net income of $575.27M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 34.8%
EBITDA Margin: 19.5%
Op. Margin: 17.3%
Net Margin: 11.8%

Op. margin of 17.3% is up 0.7% YoY — cost efficiency is improving. Net margin at 11.8% and gross margin of 34.8% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 4% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 26.9x
P/S Ratio: 3.3x
P/B Ratio: 10.0x

At 26.9x P/E, the stock trades within typical market levels. P/S of 3.3x and P/B of 10.0x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has risen for 2 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $3.89B
Cash: $283.24M
Long-Term Debt: $1.15B
Book Value: $1.55B
D/E Ratio: 0.7
Debt/EBITDA: 4.8

With $3.89B in assets and $1.15B in long-term debt, D/E is 0.7and book value is $1.55B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 7 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $215.76M
TTM Free Cash Flow: $511.89M
FCF Margin: 11.0%
FCF / Net Income: 0.9

TTM FCF of $511.89M on $215.76M in operating cash flow. The FCF / Net Income ratio of 0.9x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is down 6% — a weakening trend.