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Lincoln Elec Hldgs Inc Financials

LECO
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Lincoln Elec Hldgs Inc (LECO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 61 / 100
Financial Profile 61/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
60

Lincoln Elec Hldgs Inc has an operating margin of 17.0%, meaning the company retains $17 of operating profit per $100 of revenue. This results in a moderate score of 60/100, indicating healthy but not exceptional operating efficiency. This is up from 15.9% the prior year.

Growth
43

Lincoln Elec Hldgs Inc's revenue grew 5.6% year-over-year to $4.2B, a solid pace of expansion. This earns a growth score of 43/100.

Leverage
86

Lincoln Elec Hldgs Inc carries a low D/E ratio of 0.78, meaning only $0.78 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 86/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
32

Lincoln Elec Hldgs Inc's current ratio of 1.82 indicates adequate short-term liquidity, earning a score of 32/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
57

Lincoln Elec Hldgs Inc has a free cash flow margin of 12.6%, earning a moderate score of 57/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
90

Lincoln Elec Hldgs Inc earns a strong 35.4% return on equity (ROE), meaning it generates $35 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 90/100. This is up from 35.1% the prior year.

Altman Z-Score Safe
7.09

Lincoln Elec Hldgs Inc scores 7.09, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral
6/9

Lincoln Elec Hldgs Inc passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
1.27x

For every $1 of reported earnings, Lincoln Elec Hldgs Inc generates $1.27 in operating cash flow ($661.2M OCF vs $520.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe
12.3x

Lincoln Elec Hldgs Inc earns $12.3 in operating income for every $1 of interest expense ($718.1M vs $58.4M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue
$4.2B
YoY+5.6%
5Y CAGR+9.8%
10Y CAGR+5.3%

Lincoln Elec Hldgs Inc generated $4.2B in revenue in fiscal year 2025. This represents an increase of 5.6% from the prior year.

EBITDA
$816.6M
YoY+12.7%
5Y CAGR+17.6%
10Y CAGR+12.8%

Lincoln Elec Hldgs Inc's EBITDA was $816.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 12.7% from the prior year.

Net Income
$520.5M
YoY+11.7%
5Y CAGR+20.4%
10Y CAGR+15.1%

Lincoln Elec Hldgs Inc reported $520.5M in net income in fiscal year 2025. This represents an increase of 11.7% from the prior year.

EPS (Diluted)
$9.32
YoY+14.4%
5Y CAGR+22.2%
10Y CAGR+18.5%

Lincoln Elec Hldgs Inc earned $9.32 per diluted share (EPS) in fiscal year 2025. This represents an increase of 14.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$534.2M
YoY+10.7%
5Y CAGR+12.8%
10Y CAGR+7.4%

Lincoln Elec Hldgs Inc generated $534.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 10.7% from the prior year.

Cash & Debt
$308.8M
YoY-18.1%
5Y CAGR+3.7%
10Y CAGR+0.2%

Lincoln Elec Hldgs Inc held $308.8M in cash against $1.2B in long-term debt as of fiscal year 2025.

Dividends Per Share
$3.04
YoY+5.6%
5Y CAGR+9.0%
10Y CAGR+9.8%

Lincoln Elec Hldgs Inc paid $3.04 per share in dividends in fiscal year 2025. This represents an increase of 5.6% from the prior year.

Shares Outstanding
55M
YoY-2.3%
5Y CAGR-1.7%
10Y CAGR-2.5%

Lincoln Elec Hldgs Inc had 55M shares outstanding in fiscal year 2025. This represents a decrease of 2.3% from the prior year.

Margins & Returns

Gross Margin
36.3%
YoY-0.5pp
5Y CAGR+3.4pp
10Y CAGR+3.1pp

Lincoln Elec Hldgs Inc's gross margin was 36.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.5 percentage points from the prior year.

Operating Margin
17.0%
YoY+1.1pp
5Y CAGR+6.3pp
10Y CAGR+9.8pp

Lincoln Elec Hldgs Inc's operating margin was 17.0% in fiscal year 2025, reflecting core business profitability. This is up 1.1 percentage points from the prior year.

Net Margin
12.3%
YoY+0.7pp
5Y CAGR+4.5pp
10Y CAGR+7.3pp

Lincoln Elec Hldgs Inc's net profit margin was 12.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.7 percentage points from the prior year.

Return on Equity
35.4%
YoY+0.3pp
5Y CAGR+9.3pp
10Y CAGR+21.7pp

Lincoln Elec Hldgs Inc's ROE was 35.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.3 percentage points from the prior year.

Capital Allocation

R&D Spending
$85.5M
YoY+4.6%
5Y CAGR+10.7%
10Y CAGR+6.1%

Lincoln Elec Hldgs Inc invested $85.5M in research and development in fiscal year 2025. This represents an increase of 4.6% from the prior year.

Share Buybacks
$338.3M
YoY+28.3%
5Y CAGR+24.4%
10Y CAGR-1.6%

Lincoln Elec Hldgs Inc spent $338.3M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 28.3% from the prior year.

Capital Expenditures
$127.0M
YoY+8.9%
5Y CAGR+16.5%
10Y CAGR+9.7%

Lincoln Elec Hldgs Inc invested $127.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 8.9% from the prior year.

LECO Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $1.1B+1.6% $1.1B-2.5% $1.1B+8.4% $1.0B-1.7% $1.0B+3.9% $983.8M-3.7% $1.0B+4.1% $981.2M
Cost of Revenue $704.8M+4.9% $671.9M-1.6% $683.1M+6.9% $638.9M-2.2% $653.4M+3.4% $631.7M-1.0% $637.9M+4.1% $612.8M
Gross Profit $373.9M-3.9% $389.3M-4.0% $405.5M+11.0% $365.4M-0.9% $368.6M+4.7% $352.1M-8.3% $383.8M+4.2% $368.4M
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $183.6M-11.2% $206.8M-1.9% $210.9M+7.2% $196.7M+5.1% $187.1M+0.4% $186.3M-10.6% $208.5M+4.9% $198.7M
Operating Income $184.3M+4.3% $176.7M-8.1% $192.1M+16.5% $164.9M-6.8% $177.0M+21.6% $145.6M-2.2% $148.8M-9.8% $165.0M
Interest Expense $14.6M-3.8% $15.1M+6.1% $14.3M-0.7% $14.4M+1.3% $14.2M+0.8% $14.1M+11.5% $12.6M+5.3% $12.0M
Income Tax $36.6M-15.5% $43.4M+8.0% $40.2M+15.6% $34.7M+29.5% $26.8M-14.0% $31.2M-10.7% $34.9M-0.6% $35.1M
Net Income $136.0M+10.9% $122.6M-14.5% $143.4M+21.0% $118.5M-15.5% $140.2M+39.2% $100.8M-0.9% $101.7M-17.6% $123.4M
EPS (Diluted) N/A $2.21-13.7% $2.56+21.9% $2.10 N/A $1.770.0% $1.77-17.3% $2.14

LECO Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $3.8B-1.0% $3.8B+2.4% $3.7B+2.8% $3.6B+3.0% $3.5B-3.9% $3.7B+7.3% $3.4B+1.1% $3.4B
Current Assets $1.7B-2.3% $1.8B+3.2% $1.7B-0.3% $1.7B+5.1% $1.6B-6.4% $1.8B+8.9% $1.6B-4.0% $1.7B
Cash & Equivalents $308.8M+5.4% $293.0M-2.2% $299.5M-24.1% $394.7M+4.6% $377.3M-6.7% $404.2M+48.2% $272.7M-27.3% $375.0M
Inventory $633.4M-5.7% $671.5M+8.1% $621.4M+8.2% $574.3M+5.6% $544.0M-11.2% $612.4M+5.1% $582.7M+2.7% $567.3M
Accounts Receivable $538.8M+7.4% $501.5M-9.5% $554.3M+6.0% $522.7M+8.5% $482.0M-6.8% $517.0M-5.9% $549.2M+0.9% $544.5M
Goodwill $886.7M-0.1% $887.9M+7.0% $829.5M+1.9% $813.7M+1.1% $804.9M-1.7% $818.8M+3.4% $792.0M+14.8% $689.9M
Total Liabilities $2.3B-3.9% $2.4B+2.2% $2.3B+2.8% $2.3B+4.2% $2.2B-5.7% $2.3B+10.6% $2.1B+1.5% $2.1B
Current Liabilities $956.7M-8.0% $1.0B+1.4% $1.0B+5.7% $969.9M+10.4% $878.8M-7.6% $951.3M+21.4% $783.6M+4.6% $748.9M
Long-Term Debt $1.2B0.0% $1.2B0.0% $1.2B0.0% $1.2B0.0% $1.2B0.0% $1.2B+4.8% $1.1B-0.4% $1.1B
Total Equity $1.5B+3.9% $1.4B+2.5% $1.4B+2.9% $1.3B+1.0% $1.3B-0.9% $1.3B+2.0% $1.3B+0.4% $1.3B
Retained Earnings $4.3B+2.2% $4.2B+1.9% $4.2B+2.5% $4.1B+1.9% $4.0B+2.5% $3.9B+1.6% $3.8B+1.8% $3.8B

LECO Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $95.0M-59.9% $236.7M+64.6% $143.8M-22.5% $185.7M+93.8% $95.8M-51.9% $199.2M+16.7% $170.7M+28.1% $133.3M
Capital Expenditures $42.9M+35.8% $31.6M+24.3% $25.4M-5.6% $26.9M-14.4% $31.5M-11.9% $35.7M+54.4% $23.1M-11.9% $26.3M
Free Cash Flow $52.0M-74.6% $205.1M+73.2% $118.4M-25.4% $158.7M+146.8% $64.3M-60.7% $163.5M+10.8% $147.5M+37.8% $107.0M
Investing Cash Flow -$43.1M+68.1% -$134.8M-135.8% -$57.2M-156.3% -$22.3M+13.8% -$25.9M+80.8% -$134.6M+23.0% -$174.8M-573.9% -$25.9M
Financing Cash Flow -$36.5M+66.1% -$107.7M+37.8% -$173.2M-19.9% -$144.5M-56.5% -$92.3M-239.6% $66.2M+171.1% -$93.1M+25.8% -$125.4M
Dividends Paid $41.8M+0.5% $41.6M-0.9% $41.9M-2.4% $43.0M+7.0% $40.2M-0.3% $40.3M-0.3% $40.4M-2.1% $41.3M
Share Buybacks $51.8M-1.6% $52.7M-58.6% $127.1M+19.2% $106.7M+103.1% $52.5M+4.3% $50.4M0.0% $50.4M-54.3% $110.4M

LECO Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin 34.7%-2.0pp 36.7%-0.6pp 37.3%+0.9pp 36.4%+0.3pp 36.1%+0.3pp 35.8%-1.8pp 37.6%+0.0pp 37.5%
Operating Margin 17.1%+0.4pp 16.7%-1.0pp 17.6%+1.2pp 16.4%-0.9pp 17.3%+2.5pp 14.8%+0.2pp 14.6%-2.2pp 16.8%
Net Margin 12.6%+1.0pp 11.6%-1.6pp 13.2%+1.4pp 11.8%-1.9pp 13.7%+3.5pp 10.2%+0.3pp 10.0%-2.6pp 12.6%
Return on Equity 9.3%+0.6pp 8.7%-1.7pp 10.4%+1.6pp 8.8%-1.7pp 10.6%+3.0pp 7.5%-0.2pp 7.8%-1.7pp 9.4%
Return on Assets 3.6%+0.4pp 3.2%-0.6pp 3.9%+0.6pp 3.3%-0.7pp 4.0%+1.2pp 2.8%-0.2pp 3.0%-0.7pp 3.6%
Current Ratio 1.82+0.1 1.71+0.0 1.68-0.1 1.78-0.1 1.87+0.0 1.85-0.2 2.06-0.2 2.24
Debt-to-Equity 0.78-0.0 0.81-0.0 0.83-0.0 0.860.0 0.870.0 0.86+0.0 0.840.0 0.84
FCF Margin 4.8%-14.5pp 19.3%+8.5pp 10.9%-4.9pp 15.8%+9.5pp 6.3%-10.3pp 16.6%+2.2pp 14.4%+3.5pp 10.9%

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Frequently Asked Questions

Lincoln Elec Hldgs Inc (LECO) reported $4.2B in total revenue for fiscal year 2025. This represents a 5.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Lincoln Elec Hldgs Inc (LECO) revenue grew by 5.6% year-over-year, from $4.0B to $4.2B in fiscal year 2025.

Yes, Lincoln Elec Hldgs Inc (LECO) reported a net income of $520.5M in fiscal year 2025, with a net profit margin of 12.3%.

Lincoln Elec Hldgs Inc (LECO) reported diluted earnings per share of $9.32 for fiscal year 2025. This represents a 14.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Lincoln Elec Hldgs Inc (LECO) had EBITDA of $816.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Lincoln Elec Hldgs Inc (LECO) had $308.8M in cash and equivalents against $1.2B in long-term debt.

Lincoln Elec Hldgs Inc (LECO) had a gross margin of 36.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Lincoln Elec Hldgs Inc (LECO) had an operating margin of 17.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Lincoln Elec Hldgs Inc (LECO) had a net profit margin of 12.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Lincoln Elec Hldgs Inc (LECO) paid $3.04 per share in dividends during fiscal year 2025.

Lincoln Elec Hldgs Inc (LECO) has a return on equity of 35.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Lincoln Elec Hldgs Inc (LECO) generated $534.2M in free cash flow during fiscal year 2025. This represents a 10.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Lincoln Elec Hldgs Inc (LECO) generated $661.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Lincoln Elec Hldgs Inc (LECO) had $3.8B in total assets as of fiscal year 2025, including both current and long-term assets.

Lincoln Elec Hldgs Inc (LECO) invested $127.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Lincoln Elec Hldgs Inc (LECO) invested $85.5M in research and development during fiscal year 2025.

Yes, Lincoln Elec Hldgs Inc (LECO) spent $338.3M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Lincoln Elec Hldgs Inc (LECO) had 55M shares outstanding as of fiscal year 2025.

Lincoln Elec Hldgs Inc (LECO) had a current ratio of 1.82 as of fiscal year 2025, which is generally considered healthy.

Lincoln Elec Hldgs Inc (LECO) had a debt-to-equity ratio of 0.78 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Lincoln Elec Hldgs Inc (LECO) had a return on assets of 13.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Lincoln Elec Hldgs Inc (LECO) has an Altman Z-Score of 7.09, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Lincoln Elec Hldgs Inc (LECO) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Lincoln Elec Hldgs Inc (LECO) has an earnings quality ratio of 1.27x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Lincoln Elec Hldgs Inc (LECO) has an interest coverage ratio of 12.3x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Lincoln Elec Hldgs Inc (LECO) scores 61 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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