Lennox International, Inc. (LII) Stock Analysis
Industrials · Building Products & Equipment · NYSE
Lennox International, Inc. (LII) posted $5.20B in revenue for fiscal 2025 (down 2.7% year over year), at a 15.5% net margin, and has compounded revenue about 7.4%/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 Lennox International, Inc.
Lennox International, Inc. has grown revenue from $3.64B to $5.20B over the last 10 fiscal years, compounding about 7.4% a year. The most recent year was down 2.7%, so growth has cooled from its longer-run pace.
Net margin sits at 15.5%, up 0.4 points year over year on a 33.4% gross margin.
At today's valuation the market is pricing in roughly 9.3% annual free-cash-flow growth — versus the 3.7% it actually delivered over the last five years, so the price already assumes a step-up from the recent record. The one thing worth a second look in the filings is inventory building faster than sales.
Synthesised from Lennox International, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Lennox International, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.64B | $3.84B | $3.88B | $3.81B | $3.63B | $4.19B | $4.72B | $4.98B | $5.34B | $5.20B |
| Gross profit | $1.08B | $1.13B | $1.11B | $1.08B | $1.04B | $1.19B | $1.28B | $1.55B | $1.78B | $1.73B |
| Net income | $277.80M | $305.70M | $359.00M | $408.70M | $356.30M | $464.00M | $497.10M | $590.10M | $806.90M | $805.80M |
| Net margin | 7.6% | 8.0% | 9.2% | 10.7% | 9.8% | 11.1% | 10.5% | 11.8% | 15.1% | 15.5% |
Source: Lennox International, Inc. SEC filings (10-K). 18 years of history available in the interactive view.
Lennox International, Inc.: 1 potential red flag in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Inventory building faster than salesInventory rose 35.1% versus revenue -2.7% — possible overproduction or softening demand.
What growth is priced into LII stock?
At today's market cap of $14.37B, Lennox International, Inc. is priced for free-cash-flow growth of about 9.3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $638.80M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 3.7%/yr over the last five fiscal years and revenue 7.4%/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 Lennox International, 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.
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Lennox International, Inc. financial history by metric
Compare Lennox International, Inc. with peers
About Lennox International, Inc.
Lennox International Inc., together with its subsidiaries, designs, manufactures, and markets products for the heating, ventilation, air conditioning, and refrigeration markets in the United States, Canada, and internationally. The Home Comfort Solutions segment provides furnaces, air conditioners, heat pumps, packaged heating and cooling systems, indoor air quality equipment, comfort control products, and replacement parts and supplies; residential heating, ventilation, cooling equipment, and air conditioning; and evaporator coils, air handlers, and unit heaters under Lennox, Dave Lennox Signature Collection, Armstrong Air, Ducane, AirEase, Concord, MagicPak, Advanced Distributor Products, Allied, Elite Series, Supco, Linebacker, Elite series, Merit Series, Comfort Sync, Healthy Climate, Healthy Climate Solutions, iComfort, ComfortSense, and Lennox Stores name. The Building Climate Solutions segment offers unitary heating and air conditioning equipment, controls, installation and service of commercial heating and cooling equipment, variable refrigerant flow commercial, curb, curb adapters, drop box diffusers, HVAC recycling, and salvage service. This segment also provides , condensing units, unit coolers, fluid coolers, air cooled condensers, process chillers, compressorized racks, and replacement parts and supplies under the Lennox, Model L, CORE, Enlight, Xion, Energence, Prodigy, Strategos, Raider, Lennox VRF, Lennox National Account Services, Allied Commercial, Duro Dyne, Dyne-Tite, Durozone, Elite, AES Industries, Mechanical, Heatcraft Worldwide Refrigeration, Bohn, MAGNA, Larkin, Climate Control, Chandler Refrigeration, IntelliGen, and Interlink brand name. In addition, the company provides small package units, rooftop units, chillers, air handlers, and fan coils. It sells its products and services through direct sales, distributors, and company-owned parts and supplies stores. The company was founded in 1895 and is headquartered in Richardson, Texas.
Lennox International, Inc. — frequently asked questions
What is Lennox International, Inc.'s revenue?
Lennox International, Inc. (LII) reported revenue of $5.20B for fiscal year 2025, down 2.7% from the prior year, according to its SEC filings.
Is Lennox International, Inc. profitable?
Yes. LII earned net income of $805.80M in fiscal 2025, a net margin of 15.5%.
What is LII's P/E ratio?
Lennox International, Inc. trades at a price-to-earnings ratio of about 18.5 based on the latest data in our nightly-refreshed cache.
How fast is Lennox International, Inc. growing?
LII's revenue grew at roughly 7.4% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Lennox International, Inc. have?
As of fiscal year 2025, LII carried roughly $0 in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Lennox International, Inc.'s gross margin?
LII's gross margin was 33.4% in fiscal 2025 — gross profit of $1.73B on revenue of $5.20B.
What is Lennox International, Inc.'s market cap?
Lennox International, Inc. (LII) has a market capitalization of about $14.37B, based on the latest data in our nightly-refreshed cache.
When does Lennox International, Inc.'s fiscal year end?
LII's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into LII stock?
At today's market cap of $14.37B, Lennox International, Inc. is priced for free-cash-flow growth of about 9.3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $638.80M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 3.7%/yr over the last five fiscal years and revenue 7.4%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Lennox International, Inc.'s official SEC filings (10-K and 10-Q), covering 18 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.