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LINCOLN ELECTRIC HOLDINGS INC LECO

Nasdaq · stock · Metalworkg Machinery & Equipment · website · IPO 1993-10-27 · LEI

LINCOLN ELECTRIC HOLDINGS INC statistics & valuation

Market cap$14.6B
P / E28.1×
P / S3.5×
P / B9.9×
Dividend yield1.15%
Net margin12.3%
Return on equity35.4%
Net debt$841.4M
Net debt / EBITDA1×
Enterprise value USD$15.4B
EV / EBITDA18.9×
Earnings yield EBIT/EV4.6%
Return on capital25.5%
Graham number -74.1%$74.27

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($74.27); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
9.50% 9.80% 7.80% 8.60% 12.60% 13.00% 11.60% 12.30% 2016201720182019202020212022202320242025
Gross margin (%)
34.60% 33.30% 34.00% 33.50% 32.80% 33.00% 34.10% 35.00% 36.70% 36.20% 2016201720182019202020212022202320242025
Operating margin (%)
12.50% 14.40% 12.40% 12.40% 10.60% 14.30% 16.30% 17.10% 15.90% 17.00% 2016201720182019202020212022202320242025
Return on equity (%)
32.30% 35.80% 26.10% 32.00% 45.70% 41.70% 35.10% 35.40% 2016201720182019202020212022202320242025
Shares outstanding
68.2M 66.6M 65.7M 62.7M 60.2M 60.1M 58.7M 58.2M 57.2M 55.9M 2016201720182019202020212022202320242025
Net debt ($)
$512.9M $458.3M $524.9M $924.3M $709.0M $773.3M $841.4M 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
12.20% 12.40% 8.90% 10.70% 14.80% 16.10% 13.20% 13.80% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
0.87× 0.91× 0.83× 1.08× 0.84× 0.87× 0.78× 2016201720182019202020212022202320242025
EPS ($)
$2.91 $3.71 $4.37 $4.68 $3.42 $4.60 $8.04 $9.37 $8.15 $9.32 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

LINCOLN ELECTRIC HOLDINGS INC trades at about 30.8× earnings — above its 10-year norm (10-year range 19.1×–33.5×, median 26.3×).

19.1× 33.5×

Shaded band = 10-year range (19.1×–33.5×); dot = today's 30.8×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin36.2%36.7%35.0%34.1%33.0%32.8%33.5%34.0%33.3%34.6%
Operating margin17.0%15.9%17.1%16.3%14.3%10.6%12.4%12.4%14.4%12.5%
Net margin12.3%11.6%13.0%12.6%8.6%7.8%9.8%9.5%——
Return on assets13.8%13.2%16.1%14.8%10.7%8.9%12.4%12.2%——
Return on equity35.4%35.1%41.7%45.7%32.0%26.1%35.8%32.3%——
Debt / equity0.78×0.87×0.84×1.08×0.83×0.91×0.87×———
Current ratio1.821.872.241.831.712.021.912.302.602.69

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.