Lincoln Electric Holdings Inc (LECO) Fair Value & Analysis
Industrials · US · Market cap $13.7B · ISIN US5339001068
What is Lincoln Electric Holdings Inc really worth?
Lincoln Electric Holdings Inc
LECO · US
A solid business, but trading 80% above our fair value of $151.86.
Strengths
Risks
For context
Fair value as of: Aug 30, 2026
From 26 valuation models · updated 6 days ago
Share price −1.4% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- A high-quality business (quality 71/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case ($223.30). The favourable scenario is already priced in.
- A fairly wide model range ($94.61 to $223.30) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.
How to read this chart
60‑month range $112.94 – $297.02 · fair‑value band $94.61 – $223.30 · the $273.83 price screens above the $151.86 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 30, 2026.
Analysis
Lincoln Electric Holdings Inc (LECO) currently trades at $273.83, while our model-based Fair Value estimate is $151.86, implying the stock looks roughly 80.3% overvalued today. The Quality Score stands at 71/100 (solid quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of $170.70 per share, and 0 of the 26 models we run sit above the $273.83 price. Bear case: the Asset-Based group reads lowest at $17.97, and 26 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Lincoln Electric Holdings Inc generated revenue of $4.4B at a net margin of 12.4%. Revenue grew 11.7% year over year. It earns a return on equity of 37.8%. Net debt stands at $985M. Fundamentals as of Aug 30, 2026
Our scenario range runs from $94.61 (bear case) to $223.30 (bull case); at $273.83, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 11% below its 52-week high and 39% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −35% fair-value upside, at −45%, LECO screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $4.47 per share, which is 2.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: Growth Earnings ($170.70) versus Asset-Based ($17.97). Highest evidence: FCF DCF (79).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 70 · Market factors (momentum, volatility) 54
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Lincoln Electric Holdings, Inc., through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products in the United States and internationally. It operates in three segments: Americas Welding, International Welding, and The Harris Products Group.
Full company description
Lincoln Electric Holdings, Inc., through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products in the United States and internationally. It operates in three segments: Americas Welding, International Welding, and The Harris Products Group. The company offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, specialty gas regulators, and education solutions; and a portfolio of automated solutions and system integration services for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business. It also provides mobile power solutions, including vehicle-mounted compressors, generators, welders, hydraulics, charger/boosters, and electrified power equipment; automated welding system and solutions; and specialty welding consumables, wear plates, and maintenance and repair services for alloy and wear-resistant products, as well as develops and integrates autonomous guided vehicles and mobile robots, custom assembly and test systems, and proprietary manufacturing execution system software. The company serves general fabrication, oil and gas, power generation, 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, including OEMs, manufacturers, and integrators, as well as through industrial distributors, retailers, and agents. Lincoln Electric Holdings, Inc. was founded in 1895 and is headquartered in Cleveland, Ohio.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Lincoln Electric Holdings Inc reported revenue of $4.2B in FY2025 versus $3.2B in FY2021, a compound +6.9%/yr. Reported net income was $521M in FY2025, compounding +17.1%/yr from FY2021.
of which total revenue +5.6 % · buybacks/dilution +3.0 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
LECO screens 80% overvalued. Compare with Techtronic Industries Company →
Peer Group
Tools & Accessories · 122 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Tools & Accessories median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Tools & Accessories stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Techtronic Industries Company 0669 | HK$138.50 | HK$78.56 | −43% |
| Snap-on Incorporated SNA | $391.86 | $344.67 | −12% |
| RBC Bearings Incorporated RBC | $488.69 | $179.94 | −63% |
| Stanley Black & Decker, Inc SWK | $99.24 | $52.80 | −47% |
| AB SKF (publ) SKFB | kr 275.40 | kr 180.34 | −35% |
| The Timken Company TKR | $130.25 | $64.85 | −50% |
| The Toro Company TTC | $92.37 | $69.71 | −25% |
| SFS Group SFSN | CHF 131.40 | CHF 118.30 | −10% |
| Hangzhou Greatstar Industrial Co 002444 | ¥30.51 | ¥30.38 | +0% |
| Hiwin Technologies Corporation 2049 | 381.00 TWD | 73.32 TWD | −81% |
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