Lincoln Electric Holdings $LECO Read from its own SEC filings · nothing written, nothing inferred

🫧 Edgar looked up LINCOLN ELECTRIC HOLDINGS INC ($LECO). Last filing: 8-K (5.02 Departure or Election of Directors; Appointment of Officers), 2026-08-11. 7 event filings (8-K) in the past twelve months.

🔖 Exposure: revenue $4.2B (FY2025), total debt $1.3B. Experience: revenue up 5.6% on the year, up 7.0% a year over 4 years; operating margin 17.0%, up from 15.9%. Soundness: equity 38.9% of assets, return on equity 35.4%, payout 32.3% of profit, dividend per share up 16 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $3.8B and $4.9B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $3.5B to $5.4B. A statistical range, not company guidance. Against peers (108 filers, $50M+ revenue, its industry group): operating margin 17.0% against a 9.7% median; growth 5.6% against 5.8%.

Next year, 80%$3.8B–$4.9B
Growth, on the year5.6%
Operating margin17.0%
Equity of assets38.9%
Credibility50%
Track record8 of 11
LINCOLN ELECTRIC HOLDINGS INC against its own record and its peers
Operating marginPeer median 9.7%17.0%Revenue, on the yearPeer median 5.8%5.6%Equity of assetsPeer median 45.5%38.9%Return on equityPeer median 9.3%35.4%Payout of profitPeer median 32.3%32.3%Gold tick: the median of 55–109 peers with $50M+ revenue in metalworkg machinery & equipment
Handed back now, or kept to compound · of each dollar of profit
32.3% paid out67.7% keptHanded back per share$3.04up 16 years runningGrowth its own profit can fund24.0%managed 5.6% last year

Gold paid out, navy kept. Kept share × return on equity = the growth it can fund itself. Facts from the filings, not a recommendation.

Speed and cash · fiscal 2025

Cash Compass🐄 Cash cow now · steady, with strong cash arriving today
Inside viewTurns 15.6% of revenue into operating cash; revenue growing 4.0% a year over three years; pays and raised its dividend.
Outside viewAmong $1B-10B companies: 54th percentile for cash, 46th for growth. cash growth

Both views must agree for a label · a description, not advice.

Cash flow (op · inv · fin · free)$661M · −$257M · −$462M · $534M
Investment book (cash · short · long)$309M · — · — · current ratio 1.82
Revenue swing · equity of assets8.4% · 38.9%

Lincoln Electric Holdings is growing slower than its size class, with steadier revenue. Its own audited SEC figures.

The figures, as filed

Fiscal year end2025-12-31
Revenue$4.2B
Revenue, on the year5.6%
Revenue, a year over the record7.0%
Operating margin17.0%
Operating margin, prior year15.9%
Net margin12.3%
Research and development$86M · 2.0% of revenue
Total debt$1.3B
Equity of assets38.9%
Return on equity35.4%
Payout of profit32.3%
Dividend per share$3.04 · up 16 years running
Earnings per share$9.39
Book value per share$26.31
Revenue per share$75.76
Shares outstanding55,875,000
Audited years read5

Peers: the median of 108 filers with $50M+ revenue in metalworkg machinery & equipment.

Classic signals · fiscal 2025Altman Z″ 7.05 safe zone 1968Piotroski F 6 of 9 solid 2000Beneish M -2.53 below the −1.78 line 1999Sloan accruals -3.9% earnings backed by cash 1996DuPont ROE 37.2% = margin 12.3% × turns 1.16 × leverage 2.61

What a terminal subscription used to buy, a filing and arithmetic now give anyone. Published method, from the same filings. Display only: nothing here moves the range or its receipt. Why? →

Health HarborLincoln Electric Holdings sails as: New ship

Health watch · 12 monthsDirector or officer change ×2

Sailing speed follows growth: 4.0% a year crosses the harbor in 68 seconds.

🌊 Visit the Bay →

No warning signs on the measures below.

Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider. A picture of the signs, not a rating and not investment advice.

Recent filings

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price. Reporting, not investment advice. No price targets and no trading recommendations. Figures from the SEC’s own data · every filing · this page as JSON · ask about another company

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