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LECO

Lincoln Electric Holdings, Inc.
$256.98
-2.34% Oct 22 close
IndustrialsS&P 400 CompareTechnicals
-9%-1%+7%+15%+23%Oct 2025Oct 2026Apr 2026
LECOSPY
1W
-1.3%
1M
-2.0%
3M
+2.9%
6M
-1.8%
YTD
+8.2%
1Y
+8.9%

Live chart

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What they do

Lincoln Electric Holdings, Inc. 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.

Industrials · Tools & Accessories

For information only · Important disclosures

Grades vs sector

Momentum
59th percentile in sector
B-
12-1 return: +14.3%
Percentile within its GICS sector across the S&P 1500.
Growth
62nd percentile in sector
B-
Revenue growth (YoY): +12.0%
Percentile within its GICS sector across the S&P 1500.
Value
35th percentile in sector
C-
Forward E/P: 4.8% · EBITDA/EV: 5.8%
Percentile within its GICS sector across the S&P 1500.
Profitability
78th percentile in sector
B+
Profit margin: +12.4% · Return on equity: +37.7%
Percentile within its GICS sector across the S&P 1500.
Revisions
Not enough data yet
–
EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Systematic Models

Not held by any of our 5 live models right now.

Quality Growth
Outside this model's universe or screens
Momentum Top 15
Outside this model's universe or screens
Momentum Blend
Not in the current book
New Highs Growth
Outside this model's universe or screens
Coteau Long Book
Not in the current book

News

More news
Lincoln Electric Holdings (LECO) Reports Next Week: Wall Street Expects Earnings Growth
Zacks · Oct 20
Lincoln Electric Unveils XpertLINC Physical AI Technology for Automation
MT Newswires · Oct 20
Lincoln Electric Introduces XpertLINC™, a Physical AI-Technology Platform That Redefines the Future of Robotic Automation
Business Wire · Oct 20
1 Cash-Producing Stock with Competitive Advantages and 2 Facing Challenges
StockStory · Oct 20
These 3 Industrial Dividend Stocks Have a Habit of Paying Investors More
24/7 Wall St. · Oct 19

Key stats

Market value$14.3B
P/E (last 12 months)26.3
P/E (next 12 months, estimated)21.0
52-week range$216.22 – $310.00
Revenue growth (latest quarter vs a year ago)+12.0%
Dividend yield1.34%
Analyst consensusBuy (11)
Average analyst price target$303.36 (+18%)
Valuation and fundamentals

Valuation & fundamentals

Bottom line
Leans expensive
Model read-out from the numbers below, not advice. Score -2 (DCF counts double).
▼DCF (base case)below the price by 22%
▼Forward P/E vs sector21.0x vs median 17.1x
•Piotroski F-score6/9
▲Altman Z7.6 (safe)
▲Net debt / EBITDA1.0x
▲Analyst target+18% (11 analysts)

Discounted cash flow

Bear
$126
-51%
growth 3% · disc. 11.3% · term. 2.0%
Base
$201
-22%
growth 8% · disc. 10.3% · term. 2.5%
Bull
$298
+16%
growth 11% · disc. 9.3% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal
Today's price assumes free cash flow grows about 10% a year for 10 years.
Implied
+10%/yr
FCF, last 3 yrs
+20%/yr
FCF, last 5 yrs
+13%/yr
Revenue, last 3 yrs
+4%/yr
Revenue, last 5 yrs
+10%/yr
Same inputs as the DCF above: trailing free cash flow 0.7B, 10.3% discount rate, 2.5% growth after year 10, net debt and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.
Edit assumptions · recalculates instantly
Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 1.22 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Industrials

P/E (trailing)
sector median 26.4× · 50th pct
26.3×
cheaper
Forward P/E
sector median 17.1× · 66th pct
21.0×
pricier
EV / EBITDA
sector median 14.8× · 66th pct
17.5×
pricier
Price / sales
sector median 2.1× · 68th pct
3.2×
pricier
Price / book
sector median 3.5× · 86th pct
9.2×
pricier
FCF yield
sector median 4.5% · 53rd pct
4.8%
cheaper

Forward EPS $12.51 vs trailing $10.01 (+25% expected growth). Forward P/E uses analysts' next-12-month estimate.

Quality & financial health

Gross margin
36.0%
Operating margin
17.1%
FCF margin
15.3%
Net margin
12.4%
Return on equity
35.6%
Return on invested capital
24.0%
Net debt / EBITDA
1.0×
Current ratio
2.0×
Interest cover
13.1×
Cash conversion (OCF/NI)
1.2×
Piotroski F-score 6/9 · last two fiscal years
✓ Positive net income✓ Positive operating cash flow✓ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✗ Current ratio improved✓ No share dilution✗ Gross margin improved✗ Asset turnover improved

Altman Z-score 7.6 (safe zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target
$303
+18%
Analysts
11
Buy
Range
$238–$340
low – high
● price · ◆ mean target

Annual history

FYRevenueNet incomeFree cash flow
2025$4.2B$520.5M$661.2M
2024$4.0B$466.1M$599.0M
2023$4.2B$545.2M$667.5M
2022$3.8B$472.2M$383.4M
2021$3.2B$276.6M$365.1M
2020$2.7B$206.1M$351.4M

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +4.0%.

Earnings

Next report: 2026-10-27 · before open · EPS est 2.81
24-1025-0225-0425-0725-1026-0226-0426-070.002.93
EstimateActual (beat)Actual (miss)
ReportEPS estActualSurprise
2026-07-302.812.93+4.3%
2026-04-302.432.50+2.9%
2026-02-122.542.65+4.2%
2025-10-302.422.47+1.9%
2025-07-312.312.60+12.4%
2025-04-302.232.16-3.2%
2025-02-131.992.57+28.9%
2024-10-312.052.14+4.2%

Quarterly revenue

QuarterRevenueYoY
2026-06-30$1.2B+12.0%
2026-03-31$1.1B–
2025-12-31$1.1B–
2025-09-30$1.1B–
2025-06-30$1.1B–
Rating changes
Initiated
2026-08-11 · UBS started covering LECO at Buy
Upgrade
2026-08-10 · Morgan Stanley upgraded LECO from Underweight to Equal-Weight
Reiterated
2026-07-17 · Morgan Stanley reiterated Underweight on LECO
Initiated
2026-06-16 · DA Davidson started covering LECO at Buy
Reiterated
2026-05-05 · Barclays reiterated Overweight on LECO
Reiterated
2026-04-08 · Stifel reiterated Hold on LECO

Third-party analyst actions, not Coteau's views. All rating changes

Recent dividends

2026-09-30: $0.790 · 2026-06-30: $0.790 · 2026-03-31: $0.790 · 2025-12-31: $0.790 · 2025-09-30: $0.750 · 2025-06-30: $0.750 · 2025-03-31: $0.750 · 2024-12-31: $0.750
Insider trades
None
None · None
Sell
–
None
None · None
Sell
–
None
None · None
Sell
–

Stats refreshed 2026-10-21 18:14:55 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

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coteau

Independent research · Not investment advice · Hypothetical unless marked Live · Data: Yahoo Finance (15-min delayed), SEC EDGAR, House Clerk · Important disclosures · Contact desk@coteau.app

Beta 0.9 · Oct 21, 2026