# Lincoln Electric Holdings Inc. (LECO) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Industrials / Building Products. Price $276.44, market value $15.1 billion.

## Valuation
- **P/E (trailing): 27.6×** (5-yr avg 23.2×, 3-yr avg 23.5×). Lincoln Electric Holdings Inc. trades at 27.6× trailing earnings, close to its own five-year average of 23.2×. The Industrials median in the September 2026 study was 25.7×. Forward P/E is 22.1×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 1.54**. A PEG of 1.54 is in the range usually read as fairly priced for its growth.
- **Price / sales: 3.4×**. Each dollar of revenue is priced at 3.4×.
- **Price / book: 9.7×**. The shares trade at 9.7× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 18.4×**. Enterprise value is 18.4× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 3.6%** (5-yr avg 4.2%). Free cash flow equals 3.6% of the market value, in line with its five-year average of 4.2%.
- **Earnings yield: 3.6%**. The inverse of the P/E: 3.6% of the price is earned each year.

## Profitability
- **Gross margin: 36.0%**. Lincoln Electric Holdings Inc. keeps 36.0% of revenue after the direct cost of what it sells.
- **Operating margin: 17.1%**. 17.1% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 12.3%**. 12.3% of each dollar of sales reaches the bottom line.
- **Return on equity: 35.4%**. 35.4% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on invested capital: 24.7%**. Return on all capital, debt included, is 24.7%: comfortably above what that capital costs.
- **Return on assets: 14.7%**. Each dollar of assets produces 14.7% of profit.

## Growth
- **Revenue growth (1 yr): 5.6%** (3-yr 4.0%/yr, 5-yr 9.8%/yr). Revenue grew 5.6% over the last year, against 9.8% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 14.4%** (3-yr 5.0%/yr, 5-yr 22.2%/yr). Earnings per share rose 14.4%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 19.7%/yr**. Free cash flow has compounded at 19.7% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.88**. Debt is 0.88 times equity, moderate leverage.
- **Net debt / EBITDA: 1.1×**. It would take 1.1 years of operating earnings to repay net borrowings, within the comfortable range.
- **Altman Z-score: 6.21**. A Z-score of 6.21 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 1.14%** ($3.12 per share, trailing). Lincoln Electric Holdings Inc. yields 1.14%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 32%** (31% of free cash flow). 32% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 26**. 26 straight years of increases (the data covers 26 years, so this may be longer): a record very few companies hold.
- **Dividend growth (5 yr): 9.0%/yr** (1-yr 5.6%). The dividend has grown 9.0% a year over five years.

## Analyst view
- **Analyst consensus: buy** (11 analysts). 11 analysts cover Lincoln Electric Holdings Inc.; the consensus is buy, with an average price target of $304.91 (+10% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 14.8%** (YTD 16.1%, 3-mo 5.8%). The shares are up 14.8% over twelve months including dividends.
- **From 52-week high: -10.8%** (27.9% above the low). Trading 11% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 50**. An RSI of 50 is neutral.
- **Beta (1 yr): 1.11** (volatility 28%). Beta of 1.11 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=LECO · Page: https://foliofundamentals.com/stocks/leco

Not investment advice.