Obermatt

Lincoln Electric

NSQ:LECO · US5339001068
MachineryLarge

360

59
EV / EBIT30
Price / Owner Earnings38
Owner Earnings Yield35
Dividend Yield77
Price/Sales43
EV / Gross Profit28
Price/Book11
Return on Capital90
Cash Return on Capital79
Return on Equity98
EBIT Margin61
Gross Profitability77
Cash Conversion20
Accruals17
Owner Earnings Margin59
Sales growth60
Profit Growth80
Long-Term EPS Growth83
Owner Earnings Growth49
Reinvestment28
Price momentum58
Debt load17
Refinancing39
Debt Payback46
Liquidity75
Analyst ratings31
Opinion Changes50
Price Target Upside53
Market mood81
Value Creation12/20creating some value
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Lincoln Electric clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Profile

CountryUSA
IndustryMachinery
SizeLarge
TypePublic Company
ExchangeNASDAQGS
Founded1998
Employees3,006
Websitehf-wa.com
ISINUS5339001068
Last UpdateApr 2, 2026
Themes
Process AutomationIndustrial Automation

Description

Lincoln Electric Holdings, Inc. operates as a manufacturer of arc welding solutions worldwide. The company is a high-performance industrial machinery and technology leader who helps customers manufacture and maintain vital equipment and infrastructu…

Analysis

Middle-of-the-road

Lincoln Electric Holdings, Inc. is a middle-of-the-road business: neither the economics nor the price stand out from the peer group. One caution: reported profits have recently run ahead of actual cash, which we track closely.

The price is expensive. You pay 28.2× its owner earnings: the cash an owner could take out each year, which is in the historically expensive zone. At today's price, the market is assuming roughly 11% yearly growth; analysts expect 15%. The price, in other words, assumes less than the experts do.

The trajectory is moderate and the balance sheet is adequate. The company scores 12/20 on our value-creation score: creating some value.

What to watch: Reported profits have run ahead of actual cash for several periods. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
37
2023202420252026

All-time high

99

Jan 2023

All-time low

12

Feb 2025

Average rank

48

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
43
25
17
41
Price/Earnings
34
31
34
56
Price/Book
11
1
1
1
Dividend Yield
77
65
67
65
Value (overall)
40
10
14
12

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →