MARKETS / NASDAQ / LECO

NASDAQ · METALWORKG MACHINERY & EQUIPMENT · LARGE CAP

Lincoln Electric Holdings Inc. LECO

18 fiscal years on record · USD · FY2025 reported · SEC filings only

15 YEARS OF DIVIDEND GROWTH

Revenue

$4.2B

▲ 5.6% YoY

Net income

$520.5M

▲ 11.7% YoY

Free cash flow

$534.2M

▲ 10.7% YoY

In brief

What this company does

The company's products include arc welding equipment, filler metals, cutting systems, wire feeding systems, fume control equipment, welding accessories, specialty gas regulators, mobile power equipment, wear solutions, software and education solutions. It has manufacturing and automation facilities in 20 countries, including the United States, Brazil, China, Germany, India, Mexico and the United Kingdom. As of December 31, 2025, it employed approximately 12,000 people worldwide. Its business units are aligned into three operating segments: Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment includes welding operations in Europe, the Middle East, Africa, Asia and Australia. The Harris Products Group includes the company's global cutting, soldering and brazing businesses and specialty gas equipment, as well as a retail business primarily in the United States. The company was founded in 1895 and incorporated in the state of Ohio in 1906 as The Lincoln Electric Company, before reorganizing into a holding company structure as Lincoln Electric Holdings, Inc. in 1998.

Written from the business description in LINCOLN ELECTRIC HOLDINGS INC's annual report to the U.S. Securities and Exchange Commission, filed 25 February 2026. Every sentence was checked against that document before publication.

Growth

USD 4.2B

Revenue, FY2025 · full 18-year series below

Revenue $B Net income $B

FY2025 · Revenue 4.2 · Net income 0.5

Compound annual growth

Revenue

+4.0%

+9.8%

+5.3%

+4.9%

Net income

+3.3%

+20.4%

EPS, diluted

+5.0%

+22.2%

+18.5%

+12.8%

Dividend / share

+9.4%

+9.0%

+9.8%

+11.7%

Returned to shareholders

+17.4%

+18.2%

+0.3%

+12.6%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +9.8% a year over five years — but profit grew faster: net income at +20.4%, earnings per share at +22.2%.

The share count fell from 0.06B to 0.05B — the buyback concentrates the same profit into fewer slices.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

12 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 17.0% · Net 12.3%

ROE

FY2025 · ROE 37.2%

Gross margin36.2%

Operating margin17.0%

Net margin12.3%

Return on assets14.3%

EBITDAUSD 816.6M

Each USD of equity produced 37 cents of profit this year.

Cash & shareholders

USD 495.0M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 534.2

Net buybacks $M Dividends $M

FY2025 · Dividends 168.2 · Net buybacks 326.7

Dividends paidUSD 168.2M

Net buybacksUSD 326.7M

Share of profit95.1%

Consecutive raises15 years (since the 2010 share-count change)

USD 168.2M in dividends and USD 326.7M in buybacks — 95% of the year's profit went back to shareholders.

Total assetsUSD 3.8B

EquityUSD 1.5B

CashUSD 308.8M

Gross debtUSD 1.2B

Net debtUSD 841.4M

Current ratio1.82×

Net debt stands at 57% of equity.

The 18-year record

18 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Revenue $B	4.2	4.0	4.2	3.8	3.2	2.7	3.0	3.0	2.6	2.3	2.5	2.8	2.9	2.9	2.7	2.1	1.7	2.5
Operating income $B	0.7	0.6	0.7	0.6	0.5	0.3	0.4	0.4	0.4	0.3	0.2	0.4	0.4	0.4	0.3	0.2	0.1	0.3
EBITDA $B	0.8	0.7	0.8	0.7	0.5	0.4	0.5	0.4	0.4	0.3	0.2	0.4	0.5	0.4	0.4	0.2	0.1	0.4
Income tax $B	0.2	0.1	0.1	0.1	0.0	0.1	0.1	0.1	0.1	0.1	0.0	0.1	0.1	0.1	0.1	0.1	0.0	0.1
Net income $B	0.5	0.5	0.5	0.5	0.3	0.2	0.3	0.3	0.2	0.2	0.1	0.3	0.3	0.3	0.2	0.1	0.0	0.2
Free cash flow $B	0.5	0.5	0.6	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.1	0.1	0.2	0.2
EPS, diluted $	9.32	8.15	9.37	8.04	4.60	3.42	4.68	4.37	3.71	2.91	1.70	3.18	3.54	3.06	2.56	1.53	0.57	4.93
Dividend / sh $	3.04	2.88	2.63	2.32	2.09	1.98	1.90	1.64	1.44	1.31	1.19	0.98	0.83	0.71	0.64	0.57	0.55	1.02
Payout %	32	35	27	28	44	57	40	36	37	44	68	29	17	28	24	36	94	20
ROE %	37.2	35.4	46.5	49.8	33.4	25.6	34.4	31.6	30.1	24.1	11.5	18.1	20.3	20.4	18.8	11.8	4.5	·
Shares out B	0.05	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.07	0.07	0.07	0.08	0.08	0.08	0.08	0.08	0.04	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 88 reconciliationsAUDITED

Reconciled in 18 of 19 fiscal years. 7 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityMetalworkg Machinery & Equipment

Listed onNASDAQ

Incorporated inOhio

Fiscal year endsDecember 31

Data on record since2008