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Earnings transcript
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LECO
Lincoln Electric Holdings, Inc.
$243.67
-6.09
(-2.44%)
| Exchange: | NASDAQ |
| Market Cap: | 13.354B |
| Shares Outstanding: | 43.836M |
About The Company
| Sector: | Industrials | |||||
| Industry: | Manufacturing – Tools & Accessories | |||||
| CEO: | Steven Hedlund | |||||
| Full Time Employees: | 12000 | |||||
| Address: |
| |||||
| Website: | https://www.lincolnelectric.com |
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 welding products, including arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products. The company’s product offering also includes computer numeric controlled plasma and oxy-fuel cutting systems, and regulators and torches used in oxy-fuel welding, cutting, and brazing; and consumables used in the brazing and soldering alloys market. In addition, it is involved in the retail business in the United States. Further, 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. The company serves general fabrication, energy and 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.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
Short, structured highlights from the call so you can focus on what matters.
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 4,191,636 | 4,008,670 | 4,233,003 |
| Gross Profit | 1,477,697 | 1,477,938 | 1,539,278 |
| EBITDA | 789,483 | 800,520 | 825,557 |
| Operating Income | 717,849 | 636,462 | 744,023 |
| Net Income | 545,248 | 466,108 | 520,533 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 3,377,297 | 3,520,142 | 3,777,577 |
| Total Liabilities | 2,068,445 | 2,192,709 | 2,106,918.999 |
| Total Stockholders Equity | 1,308,852 | 1,327,433 | 1,469,794 |
| Total Debt | 1,159,890 | 1,316,309 | 1,294,008 |
| Cash and Cash Equivalents | 393,787 | 377,262 | 308,789 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 667,542 | 598,977 | 661,173 |
| Capital Expenditure | -90,987 | -116,603 | -126,974 |
| Free Cash Flow | 576,555 | 482,374 | 534,198.999 |
| Net Income | 545,248 | 466,108 | 520,533 |
| Net Change in Cash | 196,637 | -16,525 | -68,473 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 5,905,423.479 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 6,149,807.250 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 6,034,000 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 1,157,603.124 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 1,205,508.142 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 1,182,807.173 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 1,034,932.972 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 1,090,976.157 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 1,064,418.769 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 958,975.365 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 998,660.582 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 979,854.768 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 19.050 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 19.530 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 18.520 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 3 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 2 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: Lincoln Electric reported a 7% sales growth in Q2 2025, as highlighted in the earnings call transcript, reflecting strong revenue generation capabilities. Key metrics such as net income and operating cash flow from recent income and cash flow statements further support a solid financial position.
- Operational Efficiency: High gross profit margin and net profit margin (from Key Metrics TTM) indicate effective cost management and profitability, positioning LECO favorably against industry peers in the industrial machinery sector.
- Strong Market Presence: As evidenced by the company profile and revenue product segments, Lincoln Electric maintains a diversified product portfolio and significant geographic reach, contributing to stable revenue streams across multiple regions.
- Consistent Dividend Yield: A competitive dividend yield (from Key Metrics TTM) underscores LECO’s commitment to returning value to shareholders, appealing to income-focused investors.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates LECO intrinsic value between $124.10 – $174.12 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about LECO valuation
Is Lincoln Electric Holdings, Inc. (LECO) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Lincoln Electric Holdings, Inc. (LECO) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is LECO a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether LECO trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is LECO’s P/E ratio?
You can see LECO’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for LECO?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is LECO a good long-term investment?
Whether LECO fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
LECO
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Daily snapshot
-2.44
Trading Metrics:
| Open: | 244.17 | Previous Close: | 249.76 | |
| Day Low: | 239.99 | Day High: | 251.37 | |
| Year Low: | 161.11 | Year High: | 310 | |
| Price Avg 50: | 270.41 | Price Avg 200: | 244.03 | |
| Volume: | 497706 | Average Volume: | 390488 |
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Login — it's freeLECO full analysis
Welcome to MARKETSNAP’s SWOT analysis for Lincoln Electric, a company that might not be on everyone’s radar but definitely deserves a closer look if you’re into industrial stocks with solid fundamentals. Today, we’re diving deep into what makes Lincoln Electric tick, breaking down their strengths, weaknesses, opportunities, and threats, all while keeping an eye on what this means for you as a long-term investor. So, grab a coffee, let’s get into it, and figure out if this stock could be…
