Question 1

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

Accepted Answer

Lincoln Electric Holdings (LECO) P/E ratio is 25.6× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. 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/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

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

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Lincoln Electric Holdings specifically, the relevant sector benchmark is the current sector median of 27.8×.

Question 5

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

Accepted Answer

Lincoln Electric Holdings's P/E ratio of 25.6× is above its own 5-year average of 23.3× and below the sector median of 27.8×. That places the current reading at the 60th 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/E ratio range?

Accepted Answer

In the available daily series, Lincoln Electric Holdings (LECO) P/E ratio has ranged from a low of 8.7× in 2009 to a high of 55.0× in 2016. The 5-year average is 23.3× and the 5-year median is 22.9×.

Question 7

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

Accepted Answer

Lincoln Electric Holdings (LECO) P/E ratio at the end of 2025 was 25.3×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). 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	$13.2B	$521M	25.3×	+2.6×	Dec 31, 2025
2024	$10.6B	$466M	22.6×	-0.1×	Dec 31, 2024
2023	$12.4B	$545M	22.8×	+5.1×	Dec 31, 2023
2022	$8.33B	$472M	17.6×	-12.0×	Dec 31, 2022
2021	$8.21B	$276M	29.7×	-3.9×	Dec 31, 2021
2020	$6.92B	$206M	33.6×	+13.5×	Dec 31, 2020
2019	$5.9B	$293M	20.1×	+2.6×	Dec 31, 2019
2018	$5.03B	$287M	17.5×	-6.8×	Dec 31, 2018
2017	$6.01B	$248M	24.3×	-1.1×	Dec 31, 2017
2016	$5.03B	$198M	25.4×	-3.7×	Dec 31, 2016
2015	$3.71B	$127M	29.1×	+8.1×	Dec 31, 2015
2014	$5.35B	$255M	21.0×	+1.3×	Dec 31, 2014
2013	$5.79B	$294M	19.7×	+4.1×	Dec 31, 2013
2012	$4.02B	$257M	15.6×	+0.6×	Dec 31, 2012
2011	$3.26B	$217M	15.0×	-6.0×	Dec 31, 2011
2010	$2.73B	$130M	21.0×	-25.7×	Dec 31, 2010
2009	$2.27B	$48.6M	46.7×	+36.5×	Dec 31, 2009
2008	$2.16B	$212M	10.2×	-4.9×	Dec 31, 2008
2007	$3.05B	$203M	15.0×	+0.2×	Dec 31, 2007
2006	$2.59B	$175M	14.8×	+1.2×	Dec 31, 2006
2005	$1.66B	$122M	13.6×	-4.2×	Dec 31, 2005
2004	$1.43B	$80.6M	17.7×	-0.5×	Dec 31, 2004
2003	$993M	$54.5M	18.2×	-15.0×	Dec 31, 2003
2002	$971M	$29.3M	33.2×	—	Dec 31, 2002


Pentair (PNR)	21.1×
Lennox International (LII)	20.6×
Copart (CPRT)	20.4×
Union Pacific (UNP)	19.9×
Allegion (ALLE)	19.7×
Alamo Group (ALG)	19.6×
Andersons (ANDE)	19.0×
Carlisle Companies (CSL)	18.8×
Snap-on (SNA)	18.5×
Brady (BRC)	18.5×
Canadian National Railway (CNI)	18.4×
FedEx (FDX)	18.4×
Pool (POOL)	18.1×
McGrath RentCorp (MGRC)	17.5×
Honeywell International (HON)	17.5×
A. O. Smith (AOS)	17.4×
Textron (TXT)	16.6×
Northrop Grumman (NOC)	16.1×
United Parcel Service (UPS)	15.9×
Delta Air Lines (DAL)	15.5×
ABM Industries (ABM)	15.2×
Masco (MAS)	14.6×
Upwork (UPWK)	12.9×
United Airlines Holdings (UAL)	12.7×
AGCO (AGCO)	10.9×

P/E Ratio for Lincoln Electric Holdings (LECO) 2002-2026

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

Historical P/E Ratio for Lincoln Electric Holdings (LECO) from 2002 to 2025

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

Lincoln Electric Holdings P/E Ratio by Year

Lincoln Electric Holdings P/E Ratio 2025: 25.3×

Lincoln Electric Holdings P/E Ratio 2024: 22.6×

Lincoln Electric Holdings P/E Ratio 2023: 22.8×

Lincoln Electric Holdings P/E Ratio 2022: 17.6×

Lincoln Electric Holdings P/E Ratio 2021: 29.7×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Lincoln Electric Holdings (LECO) Key Financials