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Lincoln Electric Holdings, Inc.

Lincoln Electric Holdings, Inc.

NASDAQ•LECO
CEO: Mr. Steven B. Hedlund
Sector: Industrials
Industry: Manufacturing - Tools & Accessories
Listing Date: 1994-04-07
Lincoln Electric Holdings, Inc., through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions 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 in the United States. In addition, the company manufactures copper and aluminum headers, distributor assemblies, and manifolds for the heating, ventilation, and air conditioning sector in the United States and Mexico; provides specialty welding consumables, wear plates and maintenance and repair services for alloy and wear-resistant products used in mining, steel, agricultural, and industrial mill applications; and designs and manufactures robotic assembly and arc welding systems that automate the tacking and welding of steel beams. Further, 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, as well as through industrial distributors, retailers, and agents. The company was founded in 1895 and is headquartered in Cleveland, Ohio.
Contact Information
22801 St. Clair Avenue, Cleveland, OH, 44117, United States
216-481-8100
www.lincolnelectric.com
Market Cap
$14.51B
P/E (TTM)
27.6
30.7
Dividend Yield
1.2%
52W High
$264.87
52W Low
$161.11
52W Range
99%
Rank27Top 14.4%
5.4
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 5.4 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$1.06B+7.88%
4-Quarter Trend

EPS

$2.23+25.28%
4-Quarter Trend

FCF

$205.05M+25.43%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Nine Months Sales Growth Nine months Net sales $3.154B, up 5.6% driven by pricing 5.2% and acquisitions 3.2% impact.
Net Income Rises Sharply Nine months Net income $384.5M, up 18.0%; Diluted EPS increased to $6.86 from $5.68.
Strong Operating Cash Flow Nine months Operating cash flow $566.2M, increasing $63.0M due to working capital improvements and OBBBA impact.
Reduced Restructuring Charges Rationalization charges dropped 76.2% to $12.2M for nine months, significantly improving operating income results.

Risk Factors

Uncertain Tax Law Impact OBBBA enacted July 2025; ultimate impact on financial position and cash flows remains undetermined by management.
Rising Input Costs Pressure LIFO charges of $15.1M recorded for nine months due to rising input costs impacting gross profit margin.
Debt Covenant Compliance Revolving credit facility requires maximum net leverage ratio of 3.5x EBITDA for continued compliance.
Asbestos Litigation Exposure Co-defendant in asbestos cases involving approximately 1,233 plaintiffs seeking compensatory damages.

Outlook

Capital Expenditure Forecast Anticipates 2025 capital expenditures between $100,000 and $120,000 for capacity and efficiency improvements.
Future Rationalization Potential Management continues evaluating cost structure; additional rationalization actions may result in future charges.
Debt Maturity Management Repaid $100M Series A notes at maturity in August 2025; focus remains on lowest after-tax funding cost.
New Tax Provision Adoption Adopting ASU 2023-09 regarding income tax disclosures for the 2025 annual reporting period.

Peer Comparison

Revenue (TTM)

Ryanair Holdings plcRYAAY
$16.64B
+11.2%
Stanley Black & Decker, Inc.SWK
$15.17B
-1.4%
J.B. Hunt Transport Services, Inc.JBHT
$12.00B
-0.7%

Gross Margin (Latest Quarter)

Nordson CorporationNDSN
56.3%
+2.2pp
Graco Inc.GGG
53.2%
+0.0pp
Ryanair Holdings plcRYAAY
45.8%
+8.4pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
JBHT$19.46B35.115.2%19.8%
CRS$16.71B40.622.7%20.7%
ITT$15.80B29.618.0%21.4%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
1.3%
Moderate Growth
4Q Net Income CAGR
-4.4%
Stable Profitability
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 12, 2026
|
EPS:$2.52
|
Revenue:$1.10B
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 30, 2025|
    Revenue: $1.06B+7.9%
    |
    EPS: $2.23+25.3%
    Miss
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Jul 31, 2025|
    Revenue: $1.09B+6.6%
    |
    EPS: $2.58+44.1%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: Apr 30, 2025|
    Revenue: $1.00B+2.5%
    |
    EPS: $2.11-2.8%
    Miss
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 26, 2025|
    Revenue: $4.01B-4.4%
    |
    EPS: $8.23-13.5%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 31, 2024|
    Revenue: $983.76M-4.8%
    |
    EPS: $1.78-21.2%
    Miss
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Jul 31, 2024|
    Revenue: $1.02B-3.7%
    |
    EPS: $1.79-25.1%
    Miss
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: Apr 25, 2024|
    Revenue: $980.36M-5.7%
    |
    EPS: $2.17+2.4%
    Miss
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 27, 2024|
    Revenue: $4.19B+11.4%
    |
    EPS: $9.51+16.8%
    Beat