Lincoln Electric (LECO)
Industrials · Industrial welding equipment and automation
A 130-year-old industrial leader supplying arc welding equipment, cutting systems, and automated fabrication solutions to manufacturers and infrastructure builders worldwide.
What Lincoln Electric does
Lincoln Electric Holdings is a high-performance industrial machinery and technology company founded in 1895 that designs and manufactures arc welding equipment, cutting systems, filler metals, process automation solutions, and system integration services. The company serves global manufacturing, energy, automotive, and infrastructure markets through three operating segments: Americas Welding, International Welding, and The Harris Products Group. Products range from basic personal welding units to sophisticated robotic joining, cutting, and material handling systems, complemented by services including additive manufacturing, precision fabrication, and training.
Themes: ["Arc welding equipment and consumables","Cutting systems (laser, plasma, oxyfuel)","Industrial process automation","Robotic fabrication solutions","Manufacturing and infrastructure","Heavy equipment and machinery"]
Fundamentals
- Price$246.35 as of 2026-07-09 close
- Market cap$13.7B as of 2026-07-10
- 1-year return+11.7% as of 2026-07-09 close
- P/E25.41 as of 2026-07-10
- Net margin+12.4% as of 2026-07-10
- Gross margin+36.1% as of 2026-07-10
- ROE+37.3% as of 2026-07-10
- Debt / equity0.87 as of 2026-07-10
- Revenue growth (YoY)+7.9% as of 2026-07-10
- Revenue CAGR (3y)+4.0% SEC XBRL
- Beta1.23 as of 2026-07-10
Dividend: yield +1.3%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Cyclical demand sensitivity: The arc welding and cutting industry is mature and cyclical in developed markets, with overall demand largely determined by economic cycles and capital spending in manufacturing and industrial sectors.","Economic and currency exposure: Operating results are sensitive to general economic conditions, interest rate increases, inflationary pressures, and foreign currency rate fluctuations across the company's 20-country manufacturing footprint.","Customer concentration: While no single customer exceeds 10% of net sales, loss of a large customer could have an adverse effect on the business."]
Competitors & peers
- ESAB Corporation
- Illinois Tool Works (ITW)
- KUKA AG
- Hobart Brothers (subsidiary of ITW)
- Miller Electric (subsidiary of ITM)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.