Financials · LECO

Lincoln Electric Holdings Inc. (LECO) financials

For the twelve months ended Sep 30, 2026, Lincoln Electric Holdings Inc. reported $4.64B of revenue and $575.27M of net income.

Revenue, TTM
$4.64B
Revenue growth, YoY
+11.1%
Net income, TTM
$575.27M
Net income growth, YoY
+9.6%
Net margin
12.4%
Free cash flow, TTM
$511.89M
EPS, diluted, TTM
$10.43
EPS growth, YoY
+11.7%
Cash
$283.24M
Total debt
$1.15B
P/E
26.78
P/S
3.32
Market cap
$15.40B
Annual revenue$4.23B
FY2016FY2025
Annual net income$520.53M
FY2016FY2025
Annual free cash flow$534.20M
FY2016FY2025

LECO revenue and earnings growth

LECO revenueQ3 2026$1.22B

Quarter YoY
+15.1%
QoQ
+0.1%
FY YoY
+5.6%
5Y CAGR
+9.8%
10Y CAGR
+5.3%

LECO revenue was $1.22B in fiscal Q3 2026 (ended Sep 30, 2026), up 15.1% from a year earlier and up 0.1% from the prior quarter. For the full fiscal 2025 it was $4.23B, up 5.6% from fiscal 2024. Compound annual growth was +9.8% over 5 years and +5.3% over 10 years. It rose in 6 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

LECO net incomeQ3 2026$144.35M

Quarter YoY
+17.7%
QoQ
-8.9%
FY YoY
+11.7%
5Y CAGR
+20.4%
10Y CAGR
+15.1%

LECO net income was $144.35M in fiscal Q3 2026 (ended Sep 30, 2026), up 17.7% from a year earlier and down 8.9% from the prior quarter. For the full fiscal 2025 it was $520.53M, up 11.7% from fiscal 2024. Compound annual growth was +20.4% over 5 years and +15.1% over 10 years. It rose in 8 of the last 10 fiscal years.

LECO EPSQ3 2026$2.63

Quarter YoY
+19.0%
QoQ
-8.7%
FY YoY
+14.4%
5Y CAGR
+22.2%
10Y CAGR
+18.5%

LECO diluted EPS was $2.63 in fiscal Q3 2026 (ended Sep 30, 2026), up 19.0% from a year earlier and down 8.7% from the prior quarter. For the full fiscal 2025 it was $9.32, up 14.4% from fiscal 2024. Compound annual growth was +22.2% over 5 years and +18.5% over 10 years.

LECO free cash flowQ3 2026$174.54M

Quarter YoY
-14.9%
QoQ
-21.5%
FY YoY
+10.7%
5Y CAGR
+12.8%
10Y CAGR
+7.4%

LECO free cash flow was $174.54M in fiscal Q3 2026 (ended Sep 30, 2026), down 14.9% from a year earlier and down 21.5% from the prior quarter. For the full fiscal 2025 it was $534.20M, up 10.7% from fiscal 2024. Compound annual growth was +12.8% over 5 years and +7.4% over 10 years. It rose in 7 of the last 10 fiscal years.

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Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue$4.23B$4.01B$4.19B$3.76B$3.23B$2.66B$3.00B$3.03B$2.62B$2.27B
Cost of revenue$2.70B$2.54B$2.73B$2.48B$2.17B$1.78B$2.00B$2.00B$1.75B$1.49B
Gross profit$1.53B$1.47B$1.47B$1.28B$1.07B$871.34M$1.01B$1.03B$875.11M$786.56M
Research and development$85.55M$81.82M$71.23M$63.21M$55.97M$51.41M$56.84M$54.17M$47.90M$44.72M
Selling, general and admin$797.99M$780.59M$758.91M$656.64M$597.11M$543.80M$621.49M$627.70M$541.23M$468.60M
Operating income$718.06M$636.46M$717.85M$612.34M$461.67M$282.07M$370.91M$375.54M$376.94M$283.61M
Interest expense$58.38M$52.92M$51.13M$31.11M$23.78M$23.96M$25.94M$24.50M$24.22M$19.08M
Pre-tax income$675.45M$594.15M$686.87M$592.83M$325.00M$264.04M$368.49M$368.66M$366.24M$277.39M
Income tax$154.92M$128.04M$141.62M$120.60M$48.42M$57.90M$75.41M$81.67M$118.76M$79.02M
Net income$520.53M$466.11M$545.25M$472.22M$276.58M$206.12M$293.11M$287.07M$247.50M$198.40M
EPS, basic$9.39$8.23$9.50$8.14$4.66$3.46$4.73$4.42$3.76$2.94
EPS, diluted$9.32$8.15$9.37$8.04$4.60$3.42$4.68$4.37$3.71$2.91
Diluted shares55.9M57.2M58.2M58.7M60.1M60.2M62.7M65.7M66.6M68.2M

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents$308.79M$377.26M$393.79M$197.15M$192.96M$257.28M$199.56M$358.85M$326.70M$379.18M
Receivables$538.79M$481.98M$538.83M$541.53M$429.07M$373.49M$374.65M$396.88M$395.28M$273.99M
Inventory$633.36M$544.04M$562.86M$665.45M$539.92M$381.26M$393.75M$361.83M$348.67M$255.41M
Current assets$1.74B$1.65B$1.69B$1.56B$1.29B$1.11B$1.08B$1.24B$1.37B$1.04B
Goodwill$886.69M$804.93M$694.45M$665.26M$430.16M$335.59M$337.11M$281.29M$234.58M$231.92M
Total assets$3.78B$3.52B$3.38B$3.18B$2.59B$2.31B$2.37B$2.35B$2.41B$1.94B
Current liabilities$956.69M$878.80M$754.61M$852.90M$755.90M$549.45M$563.13M$538.18M$528.74M$388.11M
Short-term debt$143.78M$110.52M$2.44M$93.48M$52.73M$2.73M$34.97M$111.0K$2.13M$1.89M
Long-term debt$1.15B$1.15B$1.10B$1.11B$717.09M$715.46M$712.30M$702.55M$704.14M$703.70M
Total debt$1.29B$1.26B$1.11B$1.20B$769.82M$718.19M$747.27M$702.66M$706.27M$705.59M
Total liabilities$2.31B$2.19B$2.07B$2.15B$1.73B$1.52B$1.55B$1.46B$1.47B$1.23B
Shareholders' equity$1.47B$1.33B$1.31B$1.03B$863.91M$790.25M$819.08M$887.59M$932.45M$712.21M

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow$661.17M$598.98M$667.54M$383.39M$365.06M$351.36M$403.19M$329.15M$334.85M$312.56M
Capital expenditures$126.97M$116.60M$90.99M$71.88M$62.53M$59.20M$69.61M$71.25M$61.66M$49.88M
Free cash flow$534.20M$482.37M$576.55M$311.50M$302.53M$292.16M$333.57M$257.91M$273.19M$262.68M
Investing cash flow-$257.33M-$361.23M-$74.73M-$504.69M-$205.36M-$49.21M-$192.82M$20.84M-$272.03M-$159.95M
Financing cash flow-$461.89M-$244.64M-$412.39M$133.72M-$221.94M-$246.14M-$371.94M-$302.13M-$135.04M-$72.01M
Dividends paid$168.24M$162.14M$148.01M$130.72M$121.85M$118.12M$117.92M$102.06M$92.45M$87.33M
Share repurchases$338.31M$263.75M$198.76M$181.29M$164.53M$113.45M$292.69M$201.65M$43.16M$342.00M
Stock-based compensation$20.35M$24.05M$26.23M$25.27M$23.79M$15.39M$16.62M$18.55M$12.70M$10.33M
Depreciation and amortization$98.55M$88.24M$86.67M$78.06M$81.15M$80.49M$81.49M$72.35M$68.11M$65.07M

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY5.6%-4.4%11.4%16.3%21.8%-11.6%-0.8%15.4%15.4%-10.3%
Net income growth, YoY11.7%-14.5%15.5%70.7%34.2%-29.7%2.1%16.0%24.8%55.6%
EPS growth, YoY14.4%-13.0%16.5%74.8%34.5%-26.9%7.1%17.8%27.5%71.2%
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%9.4%8.7%
Free cash flow margin12.6%12.0%13.8%8.3%9.4%11.0%11.1%8.5%10.4%11.5%
Return on equity35.4%35.1%41.7%45.7%32.0%26.1%35.8%32.3%26.5%27.9%
Return on assets13.8%13.2%16.1%14.8%10.7%8.9%12.4%12.2%10.3%10.2%
Current ratio1.821.872.241.831.712.021.912.302.602.69
Debt to equity0.880.950.841.160.890.910.910.790.760.99

Source: XBRL data Lincoln Electric Holdings Inc. files with the SEC, latest filing dated Oct 27, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures and share counts are restated for stock splits the filings show: 2-for-1, first reported Aug 2, 2011.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

LECO peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
LECO$4.64B+11.1%$575.27M12.4%$15.40B
ASML€32.67B+15.6%€9.61B29.4%$583.23B
LRCX$26.13B+33.4%$8.45B32.3%$276.45B
TMO$47.35B+8.3%$7.07B14.9%$267.38B
DE$47.98B+8.0%$4.87B10.2%$186.39B
DHR$25.61B+5.5%$4.33B16.9%$165.41B
ETN$31.98B+20.1%$3.90B12.2%$139.59B
JCI$24.43B+5.1%$3.53B14.5%$85.71B
ITW$16.65B+4.8%$3.23B19.4%$81.49B

LECO FAQ

9 questions
  • What is LECO revenue?
    Lincoln Electric Holdings Inc. (LECO) reported $4.64B of revenue for the twelve months ended Sep 30, 2026. That is up 11.1% from the year before. Revenue for fiscal 2025 was $4.23B.
  • Is LECO profitable?
    Yes. Lincoln Electric Holdings Inc. earned $575.27M in net income for the twelve months ended Sep 30, 2026, a net margin of 12.4%.
  • How much cash and debt does LECO have?
    Lincoln Electric Holdings Inc. reported $283.24M in cash and cash equivalents and $1.15B of debt on its most recent balance sheet in SEC filings.
  • How fast is LECO revenue growing?
    Lincoln Electric Holdings Inc.'s revenue changed +5.6% in fiscal 2025, to $4.23B. Its compound annual growth rate was +9.8% over 5 years and +5.3% over 10 years.
  • What is LECO gross margin?
    Lincoln Electric Holdings Inc.'s gross profit was $1.65B on $4.64B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 35.5%.
  • What is LECO free cash flow?
    Lincoln Electric Holdings Inc. generated $511.89M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $666.66M less capital expenditures.
  • What is LECO earnings per share?
    Diluted earnings per share were $10.43 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did LECO last report financial results?
    The latest statements here come from Lincoln Electric Holdings Inc.'s 10-Q filed on Oct 27, 2026, covering the period ended Sep 30, 2026.
  • Where does this LECO financial data come from?
    Quantisnow builds these statements from the structured XBRL data Lincoln Electric Holdings Inc. files with the SEC. It is provided for information only and is not investment advice.