Lincoln Electric Holdings (LECO) Fair Value & Analysis
Industrials · US · Market cap $13.7B
Lincoln Electric Holdings
LECO · US
Fair value as of: Jul 15, 2026
From 26 valuation models · updated 23 days ago
Fair value updated Jul 15, 2026, revised from $154.61 to $154.80 (+0.1%) since Jun 24, 2026. Share price +9.0% over the past month.
A solid business, but screening 45% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($223.30). The favourable scenario is already priced in.
- Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range ($96.32 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 Jul 15, 2026.
How to read this chart
60‑month range $112.94 – $297.02 · fair‑value band $96.32 – $223.30 · the $278.91 price screens above the $154.80 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.
Analysis
Lincoln Electric Holdings (LECO) currently trades at $278.91, while our model-based Fair Value estimate is $154.80, implying the stock looks roughly 44.5% overvalued today. We read business quality at 67/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Lincoln Electric Holdings 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 Jul 15, 2026
Our scenario range runs from $96.32 (bear case) to $223.30 (bull case); at $278.91, 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 10% below its 52-week high and 42% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -26% fair-value upside, at -45%, LECO screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.
All 26 models by family
Widest divergence: Growth Earnings ($163.32) versus Asset-Based ($17.97). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 70 · Market factors (momentum, volatility) 55
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.
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 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.
LECO screens 45% overvalued. Compare with Techtronic Industries Company →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Lincoln Electric Holdings Inc (LECO) (Q2 2026) Earnings Call Highlights: Record Margins and ...
- Lincoln Electric (LECO) Reports Q2 Earnings: What Key Metrics Have to Say
- Lincoln Electric Holdings (LECO) Tops Q2 Earnings and Revenue Estimates
- Lincoln Electric’s (NASDAQ:LECO) Q2 CY2026: Beats On Revenue
Peer Group
Tools & Accessories · 119 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
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.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Tools & Accessories stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Techtronic Industries Company 0669 | HK$129.60 | HK$81.05 | -37% |
| Snap-on Incorporated SNA | $410.99 | $350.46 | -15% |
| RBC Bearings Incorporated RBC | $595.49 | $184.29 | -69% |
| Stanley Black & Decker, Inc SWK | $88.22 | $54.24 | -39% |
| AB SKF (publ) SKFB | kr 258.90 | kr 192.57 | -26% |
| The Timken Company TKR | $139.47 | $66.33 | -52% |
| The Toro Company TTC | $94.42 | $69.71 | -26% |
| SFS Group SFSN | CHF 140.00 | CHF 118.30 | -16% |
| Hangzhou Greatstar Industrial Co 002444 | ¥29.33 | ¥35.72 | +22% |
| Shareate Tools Ltd 688257 | ¥82.32 | ¥14.01 | -83% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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