Lincoln Electric Holdings, Inc. (LECO) Stock Analysis
Industrials · Tools & Accessories · NasdaqGS
Lincoln Electric Holdings, Inc. (LECO) posted $4.23B in revenue for fiscal 2025 (up 5.6% year over year), at a 12.3% net margin, and has compounded revenue about 9.8%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Lincoln Electric Holdings, Inc.
Lincoln Electric Holdings, Inc. has grown revenue from $2.27B to $4.23B over the last 10 fiscal years, compounding about 9.8% a year. The most recent year was up 5.6%, so growth has cooled from its longer-run pace.
Net margin sits at 12.3%, up 0.7 points year over year on a 36.2% gross margin. It carries about $1.29B of total debt.
At today's valuation the market is pricing in roughly 11.3% annual free-cash-flow growth — versus the 12.8% it actually delivered over the last five years, broadly in line with what it has delivered.
Synthesised from Lincoln Electric Holdings, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Lincoln Electric Holdings, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.27B | $2.62B | $3.03B | $3.00B | $2.66B | $3.23B | $3.76B | $4.19B | $4.01B | $4.23B |
| Gross profit | $786.56M | $875.11M | $1.03B | $1.01B | $871.34M | $1.07B | $1.28B | $1.47B | $1.47B | $1.53B |
| Net income | $198.37M | $247.47M | $287.07M | $293.11M | $206.12M | $276.58M | $472.22M | $545.25M | $466.11M | $520.53M |
| Net margin | 8.7% | 9.4% | 9.5% | 9.8% | 7.8% | 8.6% | 12.6% | 13.0% | 11.6% | 12.3% |
Source: Lincoln Electric Holdings, Inc. SEC filings (10-K). 18 years of history available in the interactive view.
Lincoln Electric Holdings, Inc.: no obvious red flags in the filings
Our deterministic scan of the filed statements — receivables vs sales, earnings vs cash, dilution, leverage and margins — didn't flag anything. Ask about the risks →
What growth is priced into LECO stock?
At today's market cap of $13.92B, Lincoln Electric Holdings, Inc. is priced for free-cash-flow growth of about 11.3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $534.20M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 12.8%/yr over the last five fiscal years and revenue 9.8%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 18 years of Lincoln Electric Holdings, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
Open the interactive view — freeOr start a 7-day free trial to track LECO in your portfolio →
Lincoln Electric Holdings, Inc. financial history by metric
Compare Lincoln Electric Holdings, Inc. with peers
About Lincoln Electric Holdings, Inc.
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.
Lincoln Electric Holdings, Inc. — frequently asked questions
What is Lincoln Electric Holdings, Inc.'s revenue?
Lincoln Electric Holdings, Inc. (LECO) reported revenue of $4.23B for fiscal year 2025, up 5.6% from the prior year, according to its SEC filings.
Is Lincoln Electric Holdings, Inc. profitable?
Yes. LECO earned net income of $520.53M in fiscal 2025, a net margin of 12.3%.
What is LECO's P/E ratio?
Lincoln Electric Holdings, Inc. trades at a price-to-earnings ratio of about 26.2 based on the latest data in our nightly-refreshed cache.
How fast is Lincoln Electric Holdings, Inc. growing?
LECO's revenue grew at roughly 9.8% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Lincoln Electric Holdings, Inc. have?
As of fiscal year 2025, LECO carried roughly $1.29B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Lincoln Electric Holdings, Inc.'s gross margin?
LECO's gross margin was 36.2% in fiscal 2025 — gross profit of $1.53B on revenue of $4.23B.
What is Lincoln Electric Holdings, Inc.'s market cap?
Lincoln Electric Holdings, Inc. (LECO) has a market capitalization of about $13.92B, based on the latest data in our nightly-refreshed cache.
When does Lincoln Electric Holdings, Inc.'s fiscal year end?
LECO's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into LECO stock?
At today's market cap of $13.92B, Lincoln Electric Holdings, Inc. is priced for free-cash-flow growth of about 11.3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $534.20M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 12.8%/yr over the last five fiscal years and revenue 9.8%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Lincoln Electric Holdings, Inc.'s official SEC filings (10-K and 10-Q), covering 18 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.