Question 1

What is Lincoln Electric Holdings's P/B ratio?

Accepted Answer

Lincoln Electric Holdings (LECO) P/B ratio is 9.6× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Lincoln Electric Holdings?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Lincoln Electric Holdings specifically, the relevant sector benchmark is the current sector median of 5.0×.

Question 5

Is Lincoln Electric Holdings's P/B ratio high or low?

Accepted Answer

Lincoln Electric Holdings's P/B ratio of 9.6× is above its own 5-year average of 8.8× and above the sector median of 5.0×. That places the current reading at the 66th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Lincoln Electric Holdings's historical P/B ratio range?

Accepted Answer

In the available daily series, Lincoln Electric Holdings (LECO) P/B ratio has ranged from a low of 1.4× in 2009 to a high of 12.0× in 2024. The 5-year average is 8.8× and the 5-year median is 8.8×.

Question 7

What was Lincoln Electric Holdings's P/B ratio in 2025?

Accepted Answer

Lincoln Electric Holdings (LECO) P/B ratio at the end of 2025 was 9.0×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Lincoln Electric Holdings's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$13.17B	$1.47B	9.0×	+1.0×	Dec 31, 2025
2024	$10.56B	$1.33B	8.0×	-1.5×	Dec 31, 2024
2023	$12.41B	$1.31B	9.5×	+1.4×	Dec 31, 2023
2022	$8.33B	$1.03B	8.1×	-1.4×	Dec 31, 2022
2021	$8.21B	$864.10M	9.5×	+0.7×	Dec 31, 2021
2020	$6.92B	$789.27M	8.8×	+1.6×	Dec 31, 2020
2019	$5.90B	$818.17M	7.2×	+1.5×	Dec 31, 2019
2018	$5.03B	$887.59M	5.7×	-0.8×	Dec 31, 2018
2017	$6.01B	$932.45M	6.4×	-0.6×	Dec 31, 2017
2016	$5.03B	$712.21M	7.1×	+3.1×	Dec 31, 2016
2015	$3.71B	$932.45M	4.0×	-0.2×	Dec 31, 2015
2014	$5.35B	$1.29B	4.2×	+0.4×	Dec 31, 2014
2013	$5.79B	$1.53B	3.8×	+0.8×	Dec 31, 2013
2012	$4.02B	$1.36B	3.0×	+0.2×	Dec 31, 2012
2011	$3.26B	$1.18B	2.8×	+0.4×	Dec 31, 2011
2010	$2.73B	$1.13B	2.4×	+0.3×	Dec 31, 2010
2009	$2.27B	$1.07B	2.1×	-0.1×	Dec 31, 2009
2008	$2.16B	$995.31M	2.2×	-0.6×	Dec 31, 2008
2007	$3.05B	$1.09B	2.8×	-0.2×	Dec 31, 2007
2006	$2.59B	$852.98M	3.0×	+0.5×	Dec 31, 2006
2005	$1.66B	$652.29M	2.5×	+0.1×	Dec 31, 2005
2004	$1.43B	$577.28M	2.5×	+0.4×	Dec 31, 2004
2003	$992.57M	$478.51M	2.1×	-0.2×	Dec 31, 2003
2002	$970.60M	$429.15M	2.3×	+0.2×	Dec 31, 2002
2001	$1.04B	$498.70M	2.1×	—	Dec 31, 2001


PACCAR (PCAR)	3.1×
Franklin Electric Co. (FELE)	3.0×
Huntington Ingalls Industries (HII)	2.9×
Brady (BRC)	2.9×
Fortive (FTV)	2.9×
Southwest Airlines (LUV)	2.7×
Xylem (XYL)	2.6×
FedEx (FDX)	2.5×
Axon Enterprise (TASR)	2.4×
Builders FirstSource (BLDR)	2.3×
McGrath RentCorp (MGRC)	2.2×
Tennant (TNC)	2.2×
Delta Air Lines (DAL)	2.1×
AGCO (AGCO)	2.0×
Textron (TXT)	1.9×
Archer Aviation (ACHR)	1.9×
United Airlines Holdings (UAL)	1.9×
Alamo Group (ALG)	1.7×
Matthews International (MATW)	1.6×
MDU Resources Group (MDU)	1.5×
Amentum Holdings (AMTM)	1.4×
ABM Industries (ABM)	1.4×
Stanley Black & Decker (SWK)	1.2×
Alaska Air Group (ALK)	1.1×
Versant Media Group, Inc. Class A (VSNT)	0.7×

P/B Ratio for Lincoln Electric Holdings (LECO)

P/B Ratio daily chart for Lincoln Electric Holdings (LECO)

Historical P/B Ratio for Lincoln Electric Holdings (LECO) from 2001 to 2025

About P/B Ratio at Lincoln Electric Holdings (LECO)

Lincoln Electric Holdings P/B Ratio by Year

Lincoln Electric Holdings P/B Ratio 2025: 9.0×

Lincoln Electric Holdings P/B Ratio 2024: 8.0×

Lincoln Electric Holdings P/B Ratio 2023: 9.5×

Lincoln Electric Holdings P/B Ratio 2022: 8.1×

Lincoln Electric Holdings P/B Ratio 2021: 9.5×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Lincoln Electric Holdings (LECO) Key Financials

P/B Ratio daily chart for Lincoln Electric Holdings (LECO)

Historical P/B Ratio for Lincoln Electric Holdings (LECO) from 2001 to 2025

About P/B Ratio at Lincoln Electric Holdings (LECO)

Lincoln Electric Holdings P/B Ratio by Year

Lincoln Electric Holdings P/B Ratio 2025: 9.0×

Lincoln Electric Holdings P/B Ratio 2024: 8.0×

Lincoln Electric Holdings P/B Ratio 2023: 9.5×

Lincoln Electric Holdings P/B Ratio 2022: 8.1×

Lincoln Electric Holdings P/B Ratio 2021: 9.5×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is Lincoln Electric Holdings's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

+What is a good P/B ratio for Lincoln Electric Holdings?

+Is Lincoln Electric Holdings's P/B ratio high or low?

+What is Lincoln Electric Holdings's historical P/B ratio range?

+What was Lincoln Electric Holdings's P/B ratio in 2025?

+Why does Lincoln Electric Holdings's P/B ratio change over time?

Lincoln Electric Holdings (LECO) Key Financials