Lincoln Electric (LECO) Financials

$195.27 -0.06 (-0.03%)

Closing price 05/30/2025 04:00 PM Eastern

Extended Trading

$193.58 -1.69 (-0.86%)

As of 05/30/2025 04:44 PM Eastern

Annual Income Statements for Lincoln Electric

This table shows Lincoln Electric's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	466	545	472	277	206	293	287	248	198	127
Consolidated Net Income / (Loss)	466	545	472	277	206	293	287	247	198	127
Net Income / (Loss) Continuing Operations	466	545	472	277	206	293	287	247	198	127
Total Pre-Tax Income	594	687	593	325	264	368	369	366	277	170
Total Operating Income	636	718	612	462	282	371	376	377	284	182
Total Gross Profit	1,473	1,465	1,281	1,069	871	1,008	1,029	875	787	841
Total Revenue	4,009	4,192	3,761	3,234	2,655	3,003	3,029	2,624	2,275	2,536
Operating Revenue	4,009	4,192	3,761	3,234	2,655	3,003	3,029	2,624	2,275	2,536
Total Cost of Revenue	2,536	2,726	2,480	2,166	1,784	1,996	2,000	1,749	1,488	1,695
Operating Cost of Revenue	2,536	2,726	2,480	2,166	1,784	1,996	2,000	1,749	1,488	1,695
Total Operating Expenses	836	748	668	607	589	637	653	498	503	659
Selling, General & Admin Expense	781	759	657	597	544	621	628	541	469	497
Restructuring Charge	56	-11	12	9.83	45	15	25	6.59	0.00	20
Total Other Income / (Expense), net	-42	-31	-20	-137	-18	-2.42	-6.88	-11	-6.23	-12
Interest & Investment Income	-43	-44	-30	-22	-22	-23	-18	4.79	2.09	5.73
Other Income / (Expense), net	0.47	13	9.99	-114	3.94	21	11	8.73	11	4.18
Income Tax Expense	128	142	121	48	58	75	82	119	79	42
Basic Earnings per Share	$8.23	$9.50	$8.14	$4.66	$3.46	$4.73	$4.42	$3.76	$2.94	$1.72
Weighted Average Basic Shares Outstanding	56.10M	56.82M	57.58M	58.73M	59.66M	60.36M	64.89M	65.74M	67.46M	74.11M
Diluted Earnings per Share	$8.15	$9.37	$8.04	$4.60	$3.42	$4.68	$4.37	$3.71	$2.91	$1.70
Weighted Average Diluted Shares Outstanding	56.10M	56.82M	57.58M	58.73M	59.66M	60.36M	64.89M	65.74M	67.46M	74.11M
Weighted Average Basic & Diluted Shares Outstanding	56.10M	56.82M	57.58M	58.73M	59.66M	60.36M	64.89M	65.74M	67.46M	74.11M
Cash Dividends to Common per Share	$2.88	$2.63	$2.32	$2.09	$1.98	$1.90	$1.64	$1.44	$1.31	$1.19

This table shows Lincoln Electric's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	118	140	101	102	123	157	129	137	122	109	109
Consolidated Net Income / (Loss)	118	140	101	102	123	157	129	137	122	109	109
Net Income / (Loss) Continuing Operations	118	140	101	102	123	157	129	137	122	109	109
Total Pre-Tax Income	153	167	132	137	159	197	161	173	155	136	137
Total Operating Income	165	177	146	149	165	204	171	178	164	141	142
Total Gross Profit	365	369	352	384	368	371	366	373	355	308	310
Total Revenue	1,004	1,022	984	1,022	981	1,059	1,033	1,061	1,039	931	935
Operating Revenue	1,004	1,022	984	1,022	981	1,059	1,033	1,061	1,039	931	935
Total Cost of Revenue	639	653	632	638	613	687	668	687	684	623	626
Operating Cost of Revenue	639	653	632	638	613	687	668	687	684	623	626
Total Operating Expenses	201	192	207	235	203	167	194	195	191	166	167
Selling, General & Admin Expense	197	187	186	208	199	189	187	193	190	164	159
Restructuring Charge	3.87	4.54	20	26	4.61	-22	7.07	2.67	0.88	2.38	8.36
Total Other Income / (Expense), net	-12	-9.96	-14	-12	-6.52	-7.00	-10	-4.95	-9.02	-5.73	-4.62
Interest & Investment Income	-12	-11	-12	-11	-8.78	-8.66	-11	-12	-13	-8.63	-8.21
Other Income / (Expense), net	0.44	1.41	-1.64	-1.55	2.26	1.66	0.80	6.75	4.18	2.90	3.59
Income Tax Expense	35	27	31	35	35	40	32	36	33	27	28
Basic Earnings per Share	$2.11	$2.49	$1.78	$1.79	$2.17	$2.73	$2.26	$2.39	$2.12	$1.90	$1.89
Weighted Average Basic Shares Outstanding	55.83M	56.10M	56.43M	56.68M	56.91M	56.82M	57.20M	57.41M	57.57M	57.58M	57.74M
Diluted Earnings per Share	$2.10	$2.47	$1.77	$1.77	$2.14	$2.70	$2.22	$2.36	$2.09	$1.86	$1.87
Weighted Average Diluted Shares Outstanding	55.83M	56.10M	56.43M	56.68M	56.91M	56.82M	57.20M	57.41M	57.57M	57.58M	57.74M
Weighted Average Basic & Diluted Shares Outstanding	55.83M	56.10M	56.43M	56.68M	56.91M	56.82M	57.20M	57.41M	57.57M	57.58M	57.74M
Cash Dividends to Common per Share	$0.75	$0.75	$0.71	$0.71	$0.71	$0.71	$0.64	$0.64	$0.64	$0.64	$0.56

This table details how cash moves in and out of Lincoln Electric's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-17	197	4.19	-64	58	-162	48	-72	81	26
Net Cash From Operating Activities	599	668	383	365	351	403	329	335	313	313
Net Cash From Continuing Operating Activities	599	668	383	365	557	403	329	335	313	313
Net Income / (Loss) Continuing Operations	466	545	472	277	412	293	287	247	198	127
Consolidated Net Income / (Loss)	466	545	472	277	412	293	287	247	198	127
Depreciation Expense	88	87	78	81	80	81	72	68	65	64
Non-Cash Adjustments To Reconcile Net Income	42	-23	45	132	27	2.94	2.01	-3.31	32	124
Changes in Operating Assets and Liabilities, net	2.68	58	-212	-124	38	26	-32	23	17	-2.48
Net Cash From Investing Activities	-361	-75	-505	-205	-49	-193	21	-272	-160	-85
Net Cash From Continuing Investing Activities	-361	-75	-505	-205	-49	-193	21	-272	-160	-85
Purchase of Property, Plant & Equipment	-117	-91	-72	-63	-59	-70	-71	-62	-50	-51
Acquisitions	-253	-33	-436	-156	0.00	-135	-102	-72	-72	-37
Sale of Property, Plant & Equipment	7.80	49	3.33	6.78	7.67	9.51	17	2.30	1.13	2.31
Other Investing Activities, net	0.32	-0.55	0.16	6.50	2.32	2.00	-2.00	0.00	-0.71	-0.08
Net Cash From Financing Activities	-245	-412	134	-222	-246	-372	-302	-135	-72	-172
Net Cash From Continuing Financing Activities	-245	-412	134	-222	-246	-372	-302	-135	-72	-172
Repayment of Debt	-396	-88	34	45	0.00	24	-3.11	-16	-21	-62
Repurchase of Common Equity	-264	-199	-181	-165	-113	-293	-202	-43	-342	-399
Payment of Dividends	-162	-148	-131	-122	-118	-118	-102	-92	-87	-87
Issuance of Debt	550	0.00	405	-	-32	-	-	0.03	354	370
Other Financing Activities, net	27	22	6.39	19	17	14	4.69	17	25	6.00
Effect of Exchange Rate Changes	-9.63	16	-8.23	-2.09	1.71	-	-	-	-	-30

This table details how cash moves in and out of Lincoln Electric's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	17	-27	132	-102	-19	51	122	22	1.65	56	-11
Net Cash From Operating Activities	186	96	199	171	133	122	223	199	124	112	130
Net Cash From Continuing Operating Activities	186	96	199	171	133	122	223	199	124	112	130
Net Income / (Loss) Continuing Operations	118	140	101	102	123	157	129	137	122	109	109
Consolidated Net Income / (Loss)	118	140	101	102	123	157	129	137	122	109	109
Depreciation Expense	24	23	23	21	22	22	21	22	21	19	19
Non-Cash Adjustments To Reconcile Net Income	8.63	-11	8.56	25	19	-42	0.61	9.23	9.52	0.50	20
Changes in Operating Assets and Liabilities, net	35	-57	67	23	-31	-15	72	30	-29	-17	-18
Net Cash From Investing Activities	-22	-26	-135	-175	-26	26	-25	-60	-16	-432	-17
Net Cash From Continuing Investing Activities	-22	-26	-135	-175	-26	26	-25	-60	-16	-432	-17
Purchase of Property, Plant & Equipment	-27	-31	-36	-23	-26	-25	-26	-22	-19	-20	-18
Acquisitions	0.00	-	-100	-153	0.00	-	-0.03	-33	0.00	-414	-0.20
Sale of Property, Plant & Equipment	4.65	5.29	1.20	0.99	0.32	45	0.70	0.58	3.31	0.99	0.65
Net Cash From Financing Activities	-144	-92	66	-93	-125	-101	-84	-116	-111	371	-115
Net Cash From Continuing Financing Activities	-144	-92	66	-93	-125	-101	-84	-116	-111	371	-115
Repayment of Debt	-1.07	-1.16	5.93	-403	1.85	-5.17	-3.61	-35	-44	19	-57
Repurchase of Common Equity	-107	-53	-50	-50	-110	-68	-45	-53	-32	-25	-27
Payment of Dividends	-43	-40	-40	-40	-41	-37	-37	-37	-38	-32	-32
Other Financing Activities, net	6.25	1.52	0.90	0.54	24	9.07	1.29	9.53	2.48	4.22	0.75
Effect of Exchange Rate Changes	-1.46	-4.54	0.80	-	-	4.09	8.33	-1.29	5.09	5.32	-9.46

This table presents Lincoln Electric's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	3,520	3,377	3,181	2,592	2,314	2,371	2,350	2,407	1,943	1,784
Total Current Assets	1,645	1,693	1,558	1,290	1,112	1,076	1,238	1,374	1,044	936
Cash & Equivalents	377	394	197	193	257	200	359	327	379	304
Accounts Receivable	482	539	542	429	373	375	397	395	274	265
Inventories, net	544	563	665	540	381	394	362	349	255	276
Other Current Assets	242	198	154	128	100	108	120	124	96	91
Plant, Property, & Equipment, net	619	575	545	512	522	529	479	477	372	411
Total Noncurrent Assets	1,256	1,109	1,078	791	680	766	633	556	527	502
Goodwill	805	694	665	430	336	337	281	235	232	188
Intangible Assets	221	187	203	149	134	178	148	127	130	121
Noncurrent Deferred & Refundable Income Taxes	78	45	23	18	17	14	20	16	8.42	8.68
Other Noncurrent Operating Assets	152	183	187	193	193	237	184	178	157	120
Total Liabilities & Shareholders' Equity	3,520	3,377	3,181	2,592	2,314	2,371	2,350	2,407	1,943	1,784
Total Liabilities	2,193	2,068	2,147	1,728	1,524	1,552	1,462	1,474	1,231	852
Total Current Liabilities	879	755	853	756	549	563	538	529	388	370
Short-Term Debt	111	2.44	93	53	2.73	35	0.11	2.13	1.89	4.28
Accounts Payable	297	325	352	330	257	273	269	270	177	153
Dividends Payable	42	40	37	33	30	30	30	26	23	23
Current Employee Benefit Liabilities	104	112	109	109	98	83	94	92	67	66
Other Current Liabilities	325	274	261	231	161	142	145	120	98	109
Total Noncurrent Liabilities	1,314	1,314	1,294	972	975	989	924	945	843	482
Long-Term Debt	1,151	1,103	1,110	717	715	712	703	704	704	350
Noncurrent Deferred & Payable Income Tax Liabilities	10	13	17	57	47	64	46	41	42	47
Other Noncurrent Operating Liabilities	153	198	166	199	213	212	176	201	98	85
Total Equity & Noncontrolling Interests	1,327	1,309	1,034	864	790	819	888	932	712	932
Total Preferred & Common Equity	1,327	1,309	1,034	864	789	818	887	932	711	932
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,327	1,309	1,034	864	789	818	887	932	711	932
Common Stock	577	533	492	461	420	399	370	344	319	283
Retained Earnings	3,993	3,688	3,307	2,970	2,821	2,736	2,564	2,388	2,236	2,126
Treasury Stock	-2,942	-2,683	-2,489	-2,310	-2,150	-2,042	-1,754	-1,554	-1,515	-1,181
Accumulated Other Comprehensive Income / (Loss)	-300	-230	-275	-257	-302	-276	-294	-247	-329	-296

This table presents Lincoln Electric's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	3,625	3,665	3,415	3,380	3,326	3,311	3,253	2,652
Total Current Assets	1,730	1,757	1,613	1,680	1,672	1,646	1,610	1,395
Cash & Equivalents	395	404	273	375	343	220	199	141
Accounts Receivable	523	517	549	545	538	570	573	463
Inventories, net	574	612	583	567	612	675	665	632
Other Current Assets	238	223	208	193	180	181	174	159
Plant, Property, & Equipment, net	636	624	584	582	566	563	553	490
Total Noncurrent Assets	1,259	1,283	1,218	1,118	1,088	1,102	1,089	767
Goodwill	814	819	792	690	687	692	679	425
Other Noncurrent Operating Assets	446	464	426	428	401	409	410	342
Total Liabilities & Shareholders' Equity	3,625	3,665	3,415	3,380	3,326	3,311	3,253	2,652
Total Liabilities	2,285	2,325	2,102	2,072	2,100	2,110	2,128	1,728
Total Current Liabilities	970	951	784	749	808	811	836	820
Short-Term Debt	110	112	6.25	4.72	7.70	10	49	68
Accounts Payable	365	324	351	328	328	358	361	330
Current Employee Benefit Liabilities	114	194	159	115	207	159	110	184
Other Current Liabilities	381	321	267	302	265	283	316	238
Total Noncurrent Liabilities	1,315	1,374	1,319	1,323	1,292	1,299	1,292	907
Long-Term Debt	1,150	1,151	1,098	1,103	1,103	1,104	1,111	711
Other Noncurrent Operating Liabilities	165	223	220	220	189	195	181	196
Total Equity & Noncontrolling Interests	1,340	1,339	1,313	1,308	1,226	1,201	1,125	924
Total Preferred & Common Equity	1,340	1,339	1,313	1,308	1,226	1,201	1,125	924
Total Common Equity	1,340	1,339	1,313	1,308	1,226	1,201	1,125	924
Common Stock	591	571	569	570	529	525	508	481
Retained Earnings	4,067	3,894	3,833	3,766	3,578	3,483	3,388	3,237
Treasury Stock	-3,047	-2,890	-	-	-2,616	-2,571	-2,519	-2,464
Accumulated Other Comprehensive Income / (Loss)	-271	-236	-250	-239	-266	-236	-251	-329

This table displays calculated financial ratios and metrics derived from Lincoln Electric's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-4.37%	11.44%	16.30%	21.80%	-11.58%	-0.84%	15.40%	15.38%	-10.30%	-9.86%
EBITDA Growth	-11.34%	16.78%	63.50%	16.88%	-22.58%	3.23%	1.06%	26.24%	43.84%	-44.14%
EBIT Growth	-12.90%	17.50%	79.24%	21.40%	-27.02%	1.47%	0.14%	31.01%	58.37%	-50.79%
NOPAT Growth	-12.38%	16.83%	24.15%	78.41%	-25.35%	0.91%	14.78%	25.58%	48.75%	-46.00%
Net Income Growth	-14.51%	15.46%	70.74%	34.17%	-29.66%	2.12%	15.97%	24.75%	55.69%	-49.81%
EPS Growth	-13.02%	16.54%	74.78%	34.50%	-26.92%	7.09%	17.79%	27.49%	71.18%	-46.54%
Operating Cash Flow Growth	-10.27%	74.12%	5.02%	3.90%	-12.85%	22.49%	-1.70%	7.13%	-0.09%	-22.12%
Free Cash Flow Firm Growth	-47.74%	604.99%	-157.87%	-40.09%	109.71%	-15.71%	59.46%	-46.89%	66.53%	-67.99%
Invested Capital Growth	9.35%	-0.81%	40.98%	14.99%	-8.23%	10.72%	8.87%	13.28%	-2.01%	0.19%
Revenue Q/Q Growth	-0.90%	3.14%	2.36%	4.88%	-1.58%	-0.25%	-0.11%	7.51%	-0.18%	-4.37%
EBITDA Q/Q Growth	-3.47%	8.52%	10.37%	-1.95%	-0.28%	-2.07%	4.89%	-1.60%	2.19%	-9.68%
EBIT Q/Q Growth	-4.11%	9.15%	12.13%	-2.57%	0.04%	-3.14%	5.64%	-2.14%	2.52%	-12.40%
NOPAT Q/Q Growth	-2.66%	9.29%	-0.31%	15.80%	0.60%	-6.80%	27.00%	-9.98%	-0.16%	-15.24%
Net Income Q/Q Growth	-3.40%	9.54%	7.94%	3.50%	0.66%	-7.30%	27.89%	-10.56%	2.43%	-17.29%
EPS Q/Q Growth	-2.74%	9.85%	8.36%	3.37%	1.79%	-6.21%	28.91%	-10.82%	4.30%	-13.71%
Operating Cash Flow Q/Q Growth	-4.14%	1.50%	0.49%	-6.62%	3.93%	6.09%	3.10%	5.39%	-1.58%	-15.24%
Free Cash Flow Firm Q/Q Growth	-0.72%	548.62%	-130.32%	27.18%	2.12%	158.49%	-30.98%	-19.92%	36.10%	-61.08%
Invested Capital Q/Q Growth	2.54%	3.37%	32.97%	1.18%	0.51%	0.87%	11.65%	-1.33%	-1.63%	4.27%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	36.74%	34.96%	34.05%	33.04%	32.81%	33.55%	33.96%	33.34%	34.58%	33.17%
EBITDA Margin	18.09%	19.51%	18.62%	13.24%	13.80%	15.76%	15.14%	17.29%	15.80%	9.85%
Operating Margin	15.88%	17.13%	16.28%	14.27%	10.62%	12.35%	12.40%	14.36%	12.47%	7.17%
EBIT Margin	15.89%	17.45%	16.55%	10.74%	10.77%	13.05%	12.75%	14.70%	12.94%	7.33%
Profit (Net Income) Margin	11.63%	13.01%	12.56%	8.55%	7.76%	9.76%	9.48%	9.43%	8.72%	5.02%
Tax Burden Percent	78.45%	79.38%	79.66%	85.10%	78.07%	79.54%	77.85%	67.57%	71.51%	75.04%
Interest Burden Percent	93.28%	93.93%	95.26%	93.60%	92.32%	94.03%	95.45%	94.96%	94.23%	91.34%
Effective Tax Rate	21.55%	20.62%	20.34%	14.90%	21.93%	20.46%	22.15%	32.43%	28.49%	24.96%
Return on Invested Capital (ROIC)	23.15%	27.54%	27.47%	28.52%	16.45%	22.20%	24.16%	23.36%	19.63%	13.08%
ROIC Less NNEP Spread (ROIC-NNEP)	19.19%	24.80%	25.59%	7.39%	13.81%	21.80%	22.38%	20.66%	17.52%	26.55%
Return on Net Nonoperating Assets (RNNOA)	12.21%	19.01%	22.29%	4.92%	9.17%	12.15%	7.37%	6.74%	4.49%	-1.59%
Return on Equity (ROE)	35.36%	46.54%	49.76%	33.44%	25.62%	34.35%	31.54%	30.09%	24.12%	11.49%
Cash Return on Invested Capital (CROIC)	14.22%	28.36%	-6.54%	14.57%	25.03%	12.03%	15.67%	10.90%	21.67%	12.89%
Operating Return on Assets (OROA)	18.47%	22.30%	21.56%	14.15%	12.21%	16.60%	16.24%	17.73%	15.79%	9.98%
Return on Assets (ROA)	13.52%	16.63%	16.36%	11.27%	8.80%	12.42%	12.07%	11.38%	10.64%	6.84%
Return on Common Equity (ROCE)	35.36%	46.54%	49.77%	33.42%	25.59%	34.31%	31.51%	30.07%	24.10%	11.47%
Return on Equity Simple (ROE_SIMPLE)	35.11%	41.66%	45.67%	32.01%	26.12%	35.82%	32.36%	26.56%	27.88%	13.68%
Net Operating Profit after Tax (NOPAT)	499	570	488	393	220	295	292	255	203	136
NOPAT Margin	12.46%	13.59%	12.97%	12.15%	8.29%	9.82%	9.65%	9.71%	8.92%	5.38%
Net Nonoperating Expense Percent (NNEP)	3.96%	2.74%	1.88%	21.13%	2.63%	0.40%	1.79%	2.70%	2.11%	-13.47%
Return On Investment Capital (ROIC_SIMPLE)	19.29%	23.61%	21.80%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	63.26%	65.04%	65.95%	66.96%	67.19%	66.45%	66.04%	66.66%	65.42%	66.83%
SG&A Expenses to Revenue	19.47%	18.11%	17.46%	18.46%	20.48%	20.69%	20.73%	20.62%	20.60%	19.59%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	20.87%	17.84%	17.77%	18.77%	22.19%	21.20%	21.56%	18.98%	22.11%	26.01%
Earnings before Interest and Taxes (EBIT)	637	731	622	347	286	392	386	386	294	186
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	725	818	700	428	367	473	459	454	359	250
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.97	9.37	7.84	9.18	8.30	6.70	5.19	5.75	6.22	3.46
Price to Tangible Book Value (P/TBV)	35.08	28.67	48.84	27.87	20.52	18.06	10.06	9.40	12.67	5.17
Price to Revenue (P/Rev)	2.64	2.93	2.16	2.45	2.47	1.82	1.52	2.04	1.95	1.27
Price to Earnings (P/E)	22.69	22.49	17.18	28.67	31.79	18.69	16.04	21.63	22.32	25.26
Dividend Yield	1.54%	1.23%	1.65%	1.56%	1.80%	2.12%	2.30%	1.77%	1.95%	2.68%
Earnings Yield	4.41%	4.45%	5.82%	3.49%	3.15%	5.35%	6.24%	4.62%	4.48%	3.96%
Enterprise Value to Invested Capital (EV/IC)	5.09	6.30	4.39	5.77	5.47	4.32	3.92	4.79	4.61	3.11
Enterprise Value to Revenue (EV/Rev)	2.86	3.10	2.42	2.63	2.64	2.01	1.63	2.12	2.07	1.28
Enterprise Value to EBITDA (EV/EBITDA)	15.81	15.86	13.02	19.86	19.14	12.73	10.79	12.24	13.12	12.98
Enterprise Value to EBIT (EV/EBIT)	18.00	17.74	14.65	24.50	24.52	15.38	12.81	14.40	16.02	17.46
Enterprise Value to NOPAT (EV/NOPAT)	22.96	22.77	18.69	21.65	31.85	20.43	16.92	21.80	23.25	23.80
Enterprise Value to Operating Cash Flow (EV/OCF)	19.14	19.44	23.78	23.30	19.96	14.95	15.03	16.59	15.09	10.37
Enterprise Value to Free Cash Flow (EV/FCFF)	37.38	22.11	0.00	42.36	20.93	37.71	26.10	46.71	21.07	24.14
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.95	0.84	1.16	0.89	0.91	0.91	0.79	0.76	0.99	0.38
Long-Term Debt to Equity	0.87	0.84	1.07	0.83	0.91	0.87	0.79	0.76	0.99	0.38
Financial Leverage	0.64	0.77	0.87	0.67	0.66	0.56	0.33	0.33	0.26	-0.06
Leverage Ratio	2.62	2.80	3.04	2.97	2.91	2.77	2.61	2.64	2.27	1.68
Compound Leverage Factor	2.44	2.63	2.90	2.78	2.69	2.60	2.49	2.51	2.14	1.53
Debt to Total Capital	48.72%	45.78%	53.79%	47.12%	47.61%	47.71%	44.19%	43.10%	49.77%	27.55%
Short-Term Debt to Total Capital	4.27%	0.10%	4.18%	3.23%	0.18%	2.23%	0.01%	0.13%	0.13%	0.33%
Long-Term Debt to Total Capital	44.45%	45.68%	49.62%	43.89%	47.43%	45.48%	44.18%	42.97%	49.63%	27.22%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	-0.01%	0.06%	0.06%	0.04%	0.05%	0.05%	0.07%
Common Equity to Total Capital	51.28%	54.22%	46.21%	52.89%	52.32%	52.23%	55.77%	56.85%	50.18%	72.38%
Debt to EBITDA	1.74	1.35	1.72	1.80	1.96	1.58	1.53	1.56	1.96	1.42
Net Debt to EBITDA	1.22	0.87	1.44	1.35	1.26	1.16	0.75	0.44	0.80	0.09
Long-Term Debt to EBITDA	1.59	1.35	1.59	1.67	1.95	1.50	1.53	1.55	1.96	1.40
Debt to NOPAT	2.53	1.94	2.47	1.96	3.26	2.53	2.40	2.77	3.48	2.60
Net Debt to NOPAT	1.77	1.25	2.06	1.47	2.09	1.86	1.18	0.79	1.42	0.17
Long-Term Debt to NOPAT	2.30	1.94	2.28	1.83	3.25	2.41	2.40	2.76	3.47	2.57
Altman Z-Score	6.48	7.37	5.82	6.29	6.13	5.80	5.61	5.61	5.84	6.08
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	-0.01%	0.05%	0.12%	0.09%	0.08%	0.09%	0.10%	0.18%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.87	2.24	1.83	1.71	2.02	1.91	2.30	2.60	2.69	2.53
Quick Ratio	0.98	1.24	0.87	0.82	1.15	1.02	1.40	1.70	1.78	1.54
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	307	587	-116	201	335	160	190	119	224	134
Operating Cash Flow to CapEx	550.51%	1,608.81%	559.26%	654.82%	681.81%	670.79%	604.05%	564.14%	641.14%	649.07%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	4.91	11.73	6.16
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	13.83	16.38	14.33
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	11.37	13.83	12.13
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.16	1.28	1.30	1.32	1.13	1.27	1.27	1.21	1.22	1.36
Accounts Receivable Turnover	7.85	7.76	7.75	8.06	7.10	7.79	7.65	7.84	8.44	8.42
Inventory Turnover	4.58	4.44	4.12	4.70	4.60	5.28	5.63	5.79	5.60	5.49
Fixed Asset Turnover	6.71	7.48	7.12	6.26	5.05	5.96	6.34	6.18	5.80	5.97
Accounts Payable Turnover	8.15	8.05	7.27	7.38	6.74	7.37	7.43	7.84	9.04	9.35
Days Sales Outstanding (DSO)	46.47	47.04	47.10	45.29	51.42	46.88	47.73	46.54	43.22	43.35
Days Inventory Outstanding (DIO)	79.66	82.23	88.69	77.63	79.28	69.10	64.83	63.02	65.16	66.44
Days Payable Outstanding (DPO)	44.77	45.36	50.20	49.45	54.17	49.53	49.12	46.58	40.40	39.02
Cash Conversion Cycle (CCC)	81.37	83.91	85.58	73.47	76.53	66.45	63.44	62.98	67.99	70.77
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,253	2,061	2,078	1,474	1,282	1,396	1,261	1,159	1,023	1,044
Invested Capital Turnover	1.86	2.03	2.12	2.35	1.98	2.26	2.50	2.41	2.20	2.43
Increase / (Decrease) in Invested Capital	193	-17	604	192	-115	135	103	136	-21	1.93
Enterprise Value (EV)	11,462	12,974	9,117	8,506	7,013	6,027	4,948	5,554	4,716	3,245
Market Capitalization	10,578	12,262	8,111	7,929	6,551	5,478	4,603	5,352	4,428	3,221
Book Value per Share	$23.53	$22.88	$17.91	$14.63	$13.27	$13.38	$13.76	$14.17	$10.78	$12.86
Tangible Book Value per Share	$5.34	$7.48	$2.88	$4.82	$5.37	$4.96	$7.10	$8.66	$5.29	$8.60
Total Capital	2,589	2,414	2,238	1,634	1,508	1,566	1,590	1,639	1,418	1,287
Total Debt	1,261	1,105	1,204	770	718	747	703	706	706	355
Total Long-Term Debt	1,151	1,103	1,110	717	715	712	703	704	704	350
Net Debt	884	711	1,007	577	461	548	344	200	287	23
Capital Expenditures (CapEx)	109	41	69	56	52	60	54	59	49	48
Debt-free, Cash-free Net Working Capital (DFCFNWC)	500	547	601	393	308	348	341	341	239	266
Debt-free Net Working Capital (DFNWC)	877	941	798	586	566	547	700	847	657	570
Net Working Capital (NWC)	766	939	705	534	563	512	700	845	656	566
Net Nonoperating Expense (NNE)	33	25	16	116	14	1.92	5.36	7.23	4.45	8.94
Net Nonoperating Obligations (NNO)	926	752	1,044	610	491	577	374	226	310	111
Total Depreciation and Amortization (D&A)	88	87	78	81	80	81	72	68	65	64
Debt-free, Cash-free Net Working Capital to Revenue	12.47%	13.05%	15.98%	12.17%	11.61%	11.58%	11.26%	13.00%	10.52%	10.49%
Debt-free Net Working Capital to Revenue	21.88%	22.45%	21.23%	18.13%	21.30%	18.23%	23.10%	32.27%	28.91%	22.48%
Net Working Capital to Revenue	19.12%	22.39%	18.74%	16.50%	21.20%	17.06%	23.10%	32.19%	28.82%	22.32%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$8.23	$9.50	$8.14	$4.66	$3.46	$4.73	$4.42	$3.76	$2.94	$1.72
Adjusted Weighted Average Basic Shares Outstanding	56.10M	56.82M	57.58M	58.73M	59.66M	60.36M	63.24M	65.64M	65.70M	70.69M
Adjusted Diluted Earnings per Share	$8.15	$9.37	$8.04	$4.60	$3.42	$4.68	$4.37	$3.71	$2.91	$1.70
Adjusted Weighted Average Diluted Shares Outstanding	56.10M	56.82M	57.58M	58.73M	59.66M	60.36M	63.24M	65.64M	65.70M	70.69M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	56.10M	56.82M	57.58M	58.73M	59.66M	60.36M	63.24M	65.64M	65.70M	70.69M
Normalized Net Operating Profit after Tax (NOPAT)	543	561	497	401	256	307	312	259	203	258
Normalized NOPAT Margin	13.55%	13.38%	13.22%	12.41%	9.63%	10.23%	10.30%	9.88%	8.92%	10.19%
Pre Tax Income Margin	14.82%	16.39%	15.76%	10.05%	9.94%	12.27%	12.17%	13.95%	12.19%	6.70%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	15.92	15.43	8.52
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	10.52	10.63	6.25
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	13.47	12.87	6.31
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	8.07	8.08	4.04
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	34.79%	27.15%	27.68%	44.06%	57.30%	40.23%	35.56%	37.36%	44.02%	68.26%
Augmented Payout Ratio	91.37%	63.60%	66.07%	103.54%	112.34%	140.10%	105.82%	54.80%	216.43%	381.80%

This table displays calculated financial ratios and metrics derived from Lincoln Electric's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.36%	-3.45%	-4.79%	-3.67%	-5.59%	13.70%	10.48%	9.38%	12.31%	10.27%	15.97%
EBITDA Growth	0.13%	-11.46%	-14.03%	-18.64%	-0.50%	39.29%	17.45%	10.96%	2.21%	67.40%	149.24%
EBIT Growth	-1.16%	-13.26%	-16.45%	-20.28%	-0.73%	42.46%	18.22%	11.03%	1.63%	87.41%	230.16%
NOPAT Growth	-0.75%	-8.39%	-19.08%	-21.56%	-0.40%	42.60%	21.67%	5.51%	1.37%	-9.09%	18.17%
Net Income Growth	-3.99%	-10.48%	-22.10%	-25.94%	1.22%	43.52%	18.42%	7.44%	-3.25%	46.68%	243.94%
EPS Growth	-1.87%	-8.52%	-20.27%	-25.00%	2.39%	45.16%	18.72%	8.26%	-1.88%	50.00%	252.83%
Operating Cash Flow Growth	39.31%	-21.26%	-10.71%	-14.16%	7.56%	8.82%	71.25%	102.47%	187.61%	1.70%	18.56%
Free Cash Flow Firm Growth	-121.64%	-124.61%	68.34%	117.20%	145.59%	136.54%	-4,369.49%	-427.72%	-129.69%	-631.80%	108.01%
Invested Capital Growth	8.10%	9.35%	10.24%	2.37%	-2.21%	-0.81%	27.58%	31.07%	32.53%	40.98%	7.28%
Revenue Q/Q Growth	-1.73%	3.89%	-3.71%	4.13%	-7.30%	2.45%	-2.58%	2.04%	11.65%	-0.46%	-3.54%
EBITDA Q/Q Growth	-6.16%	21.02%	-0.95%	-10.98%	-17.03%	17.51%	-6.26%	8.87%	16.15%	-0.91%	-11.45%
EBIT Q/Q Growth	-7.32%	23.98%	-2.29%	-11.97%	-18.66%	19.42%	-6.77%	9.62%	16.73%	-0.90%	-12.44%
NOPAT Q/Q Growth	-14.18%	33.68%	0.32%	-13.77%	-20.79%	18.09%	-2.76%	9.50%	13.41%	0.76%	-15.68%
Net Income Q/Q Growth	-15.50%	39.18%	-0.94%	-17.59%	-21.21%	21.11%	-5.82%	12.63%	11.71%	-0.07%	-14.55%
EPS Q/Q Growth	-14.98%	39.55%	0.00%	-17.29%	-20.74%	21.62%	-5.93%	12.92%	12.37%	-0.53%	-14.22%
Operating Cash Flow Q/Q Growth	93.84%	-51.91%	16.71%	28.05%	9.56%	-45.47%	12.20%	60.45%	10.85%	-14.19%	32.66%
Free Cash Flow Firm Q/Q Growth	14.27%	52.57%	-252.06%	-65.00%	-20.47%	161.02%	17.41%	7.22%	21.85%	-7,229.33%	110.21%
Invested Capital Q/Q Growth	-2.12%	2.54%	2.46%	5.13%	0.99%	3.37%	-4.86%	0.42%	0.42%	32.97%	-2.25%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	36.39%	36.07%	35.79%	37.57%	37.55%	35.05%	35.39%	35.21%	34.19%	33.08%	33.10%
EBITDA Margin	18.83%	19.72%	16.93%	16.46%	19.25%	21.51%	18.75%	19.49%	18.27%	17.56%	17.64%
Operating Margin	16.42%	17.32%	14.80%	14.57%	16.82%	19.28%	16.59%	16.78%	15.81%	15.20%	15.19%
EBIT Margin	16.46%	17.46%	14.63%	14.42%	17.05%	19.43%	16.67%	17.42%	16.22%	15.51%	15.58%
Profit (Net Income) Margin	11.80%	13.72%	10.24%	9.95%	12.58%	14.80%	12.52%	12.95%	11.73%	11.72%	11.68%
Tax Burden Percent	77.32%	83.94%	76.36%	74.44%	77.85%	79.50%	80.12%	79.35%	78.49%	80.40%	79.44%
Interest Burden Percent	92.67%	93.63%	91.68%	92.76%	94.75%	95.79%	93.72%	93.67%	92.17%	94.02%	94.37%
Effective Tax Rate	22.68%	16.06%	23.64%	25.56%	22.15%	20.50%	19.88%	20.65%	21.51%	19.60%	20.56%
Return on Invested Capital (ROIC)	24.11%	27.02%	21.81%	20.95%	26.23%	31.04%	30.39%	28.60%	26.28%	25.88%	29.38%
ROIC Less NNEP Spread (ROIC-NNEP)	22.98%	26.02%	20.53%	19.89%	25.63%	30.42%	29.25%	28.10%	25.43%	25.33%	28.79%
Return on Net Nonoperating Assets (RNNOA)	13.87%	16.56%	13.02%	13.65%	17.84%	23.31%	19.13%	20.99%	21.39%	22.06%	19.98%
Return on Equity (ROE)	37.98%	43.58%	34.83%	34.60%	44.08%	54.36%	49.52%	49.60%	47.67%	47.94%	49.37%
Cash Return on Invested Capital (CROIC)	15.69%	14.22%	14.74%	23.08%	29.83%	28.36%	5.09%	0.01%	-1.23%	-6.54%	25.39%
Operating Return on Assets (OROA)	18.95%	20.29%	16.93%	17.55%	21.25%	24.84%	22.67%	22.83%	20.98%	20.21%	21.93%
Return on Assets (ROA)	13.58%	15.95%	11.85%	12.12%	15.68%	18.92%	17.02%	16.97%	15.18%	15.28%	16.44%
Return on Common Equity (ROCE)	37.98%	43.58%	34.83%	34.60%	44.08%	54.36%	49.52%	49.60%	47.67%	47.95%	49.37%
Return on Equity Simple (ROE_SIMPLE)	34.41%	0.00%	36.03%	38.93%	41.80%	0.00%	40.61%	39.76%	41.60%	0.00%	47.33%
Net Operating Profit after Tax (NOPAT)	128	149	111	111	128	162	137	141	129	114	113
NOPAT Margin	12.70%	14.54%	11.30%	10.84%	13.10%	15.32%	13.29%	13.32%	12.41%	12.22%	12.07%
Net Nonoperating Expense Percent (NNEP)	1.13%	1.00%	1.28%	1.05%	0.60%	0.62%	1.14%	0.50%	0.85%	0.56%	0.59%
Return On Investment Capital (ROIC_SIMPLE)	4.90%	5.74%	-	-	-	6.72%	-	-	-	5.08%	-
Cost of Revenue to Revenue	63.61%	63.93%	64.21%	62.43%	62.45%	64.95%	64.61%	64.79%	65.81%	66.92%	66.91%
SG&A Expenses to Revenue	19.58%	18.30%	18.94%	20.41%	20.26%	17.85%	18.11%	18.17%	18.29%	17.63%	17.01%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	19.97%	18.75%	20.99%	23.00%	20.72%	15.78%	18.79%	18.43%	18.38%	17.88%	17.90%
Earnings before Interest and Taxes (EBIT)	165	178	144	147	167	206	172	185	169	144	146
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	189	202	167	168	189	228	194	207	190	163	165
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.92	7.97	8.13	8.18	11.13	9.37	8.40	9.39	8.51	7.84	7.68
Price to Tangible Book Value (P/TBV)	20.15	35.08	20.91	20.61	23.55	28.67	19.11	22.17	21.48	48.84	14.21
Price to Revenue (P/Rev)	2.63	2.64	2.69	2.62	3.52	2.93	2.53	2.85	2.47	2.16	1.93
Price to Earnings (P/E)	23.01	22.69	22.55	21.00	26.62	22.49	20.69	23.62	20.46	17.18	16.23
Dividend Yield	1.54%	1.54%	1.48%	1.47%	1.06%	1.23%	1.43%	1.27%	1.44%	1.65%	1.83%
Earnings Yield	4.35%	4.41%	4.43%	4.76%	3.76%	4.45%	4.83%	4.23%	4.89%	5.82%	6.16%
Enterprise Value to Invested Capital (EV/IC)	5.20	5.09	5.34	5.39	7.49	6.30	5.55	5.81	5.05	4.39	4.95
Enterprise Value to Revenue (EV/Rev)	2.85	2.86	2.90	2.83	3.70	3.10	2.72	3.07	2.72	2.42	2.11
Enterprise Value to EBITDA (EV/EBITDA)	15.82	15.81	15.63	14.86	18.71	15.86	14.68	16.80	14.96	13.02	12.20
Enterprise Value to EBIT (EV/EBIT)	18.07	18.00	17.68	16.70	20.94	17.74	16.52	18.93	16.86	14.65	13.95
Enterprise Value to NOPAT (EV/NOPAT)	23.03	22.96	22.89	21.46	26.85	22.77	21.22	24.50	21.52	18.69	15.82
Enterprise Value to Operating Cash Flow (EV/OCF)	17.62	19.14	18.79	17.83	22.59	19.44	16.82	21.56	22.70	23.78	20.29
Enterprise Value to Free Cash Flow (EV/FCFF)	34.46	37.38	38.02	23.64	24.84	22.11	122.31	48,370.84	0.00	0.00	20.20
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.94	0.95	0.94	0.84	0.85	0.84	0.91	0.93	1.03	1.16	0.84
Long-Term Debt to Equity	0.86	0.87	0.86	0.84	0.84	0.84	0.90	0.92	0.99	1.07	0.77
Financial Leverage	0.60	0.64	0.63	0.69	0.70	0.77	0.65	0.75	0.84	0.87	0.69
Leverage Ratio	2.65	2.62	2.73	2.68	2.73	2.80	2.78	2.86	3.01	3.04	2.93
Compound Leverage Factor	2.45	2.45	2.50	2.48	2.58	2.68	2.61	2.68	2.78	2.86	2.76
Debt to Total Capital	48.46%	48.72%	48.53%	45.69%	45.85%	45.78%	47.54%	48.12%	50.76%	53.79%	45.76%
Short-Term Debt to Total Capital	4.22%	4.27%	4.30%	0.26%	0.20%	0.10%	0.33%	0.45%	2.16%	4.18%	4.01%
Long-Term Debt to Total Capital	44.24%	44.45%	44.22%	45.43%	45.66%	45.68%	47.21%	47.67%	48.60%	49.62%	41.74%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.01%
Common Equity to Total Capital	51.54%	51.28%	51.47%	54.31%	54.15%	54.22%	52.46%	51.88%	49.24%	46.21%	54.25%
Debt to EBITDA	1.74	1.74	1.68	1.42	1.36	1.35	1.47	1.54	1.65	1.72	1.23
Net Debt to EBITDA	1.19	1.22	1.14	1.07	0.90	0.87	1.02	1.23	1.36	1.44	1.01
Long-Term Debt to EBITDA	1.59	1.59	1.53	1.41	1.35	1.35	1.46	1.52	1.58	1.59	1.12
Debt to NOPAT	2.53	2.53	2.46	2.05	1.95	1.94	2.13	2.24	2.37	2.47	1.59
Net Debt to NOPAT	1.74	1.77	1.67	1.54	1.29	1.25	1.47	1.80	1.96	2.06	1.30
Long-Term Debt to NOPAT	2.31	2.30	2.24	2.04	1.94	1.94	2.12	2.22	2.27	2.28	1.45
Altman Z-Score	5.87	6.05	5.79	6.27	7.49	6.86	6.15	6.37	5.81	5.32	6.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.01%	-0.01%	-0.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.78	1.87	1.85	2.06	2.24	2.24	2.07	2.03	1.93	1.83	1.70
Quick Ratio	0.95	0.98	0.97	1.05	1.23	1.24	1.09	0.98	0.92	0.87	0.74
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-38	-44	-93	61	175	179	-294	-355	-383	-490	6.88
Operating Cash Flow to CapEx	832.59%	365.71%	577.08%	770.53%	513.86%	0.00%	885.23%	938.52%	800.95%	601.44%	763.99%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.15	1.16	1.16	1.22	1.25	1.28	1.36	1.31	1.29	1.30	1.41
Accounts Receivable Turnover	7.56	7.85	7.67	7.31	7.39	7.76	8.12	7.29	7.11	7.75	8.11
Inventory Turnover	4.49	4.58	4.20	4.14	4.31	4.44	4.28	3.99	4.06	4.12	4.20
Fixed Asset Turnover	6.62	6.71	6.80	7.14	7.28	7.48	7.70	7.44	7.28	7.12	7.28
Accounts Payable Turnover	7.39	8.15	7.88	7.34	7.71	8.05	8.09	7.25	7.03	7.27	7.60
Days Sales Outstanding (DSO)	48.31	46.47	47.58	49.90	49.36	47.04	44.94	50.10	51.32	47.10	45.01
Days Inventory Outstanding (DIO)	81.32	79.66	86.98	88.07	84.68	82.23	85.35	91.55	89.83	88.69	86.91
Days Payable Outstanding (DPO)	49.37	44.77	46.31	49.70	47.36	45.36	45.14	50.34	51.91	50.20	48.02
Cash Conversion Cycle (CCC)	80.26	81.37	88.25	88.27	86.67	83.91	85.14	91.30	89.24	85.58	83.90
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,206	2,253	2,198	2,145	2,040	2,061	1,993	2,095	2,086	2,078	1,563
Invested Capital Turnover	1.90	1.86	1.93	1.93	2.00	2.03	2.29	2.15	2.12	2.12	2.43
Increase / (Decrease) in Invested Capital	165	193	204	50	-46	-17	431	497	512	604	106
Enterprise Value (EV)	11,476	11,462	11,741	11,567	15,288	12,974	11,065	12,177	10,537	9,117	7,740
Market Capitalization	10,611	10,578	10,883	10,735	14,556	12,262	10,297	11,284	9,576	8,111	7,102
Book Value per Share	$23.89	$23.53	$23.63	$23.07	$22.98	$22.88	$21.35	$20.87	$19.54	$17.91	$15.96
Tangible Book Value per Share	$9.39	$5.34	$9.18	$9.15	$10.86	$7.48	$9.39	$8.84	$7.74	$2.88	$8.63
Total Capital	2,600	2,589	2,602	2,418	2,415	2,414	2,336	2,316	2,285	2,238	1,704
Total Debt	1,260	1,261	1,263	1,105	1,107	1,105	1,111	1,114	1,160	1,204	780
Total Long-Term Debt	1,150	1,151	1,151	1,098	1,103	1,103	1,103	1,104	1,111	1,110	711
Net Debt	865	884	858	832	732	711	768	894	961	1,007	638
Capital Expenditures (CapEx)	22	26	35	22	26	-20	25	21	15	19	17
Debt-free, Cash-free Net Working Capital (DFCFNWC)	475	500	514	563	561	547	529	625	625	601	502
Debt-free Net Working Capital (DFNWC)	869	877	918	836	936	941	872	846	824	798	643
Net Working Capital (NWC)	760	766	806	830	931	939	864	835	775	705	575
Net Nonoperating Expense (NNE)	9.03	8.36	10	9.09	5.07	5.57	8.02	3.93	7.08	4.61	3.67
Net Nonoperating Obligations (NNO)	865	926	858	832	732	752	768	894	961	1,044	638
Total Depreciation and Amortization (D&A)	24	23	23	21	22	22	21	22	21	19	19
Debt-free, Cash-free Net Working Capital to Revenue	11.77%	12.47%	12.70%	13.75%	13.56%	13.05%	13.02%	15.77%	16.13%	15.98%	13.67%
Debt-free Net Working Capital to Revenue	21.56%	21.88%	22.69%	20.41%	22.63%	22.45%	21.45%	21.33%	21.26%	21.23%	17.51%
Net Working Capital to Revenue	18.84%	19.12%	19.92%	20.26%	22.52%	22.39%	21.26%	21.06%	19.99%	18.74%	15.65%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.11	$2.49	$1.78	$1.79	$2.17	$2.73	$2.26	$2.39	$2.12	$1.90	$1.89
Adjusted Weighted Average Basic Shares Outstanding	55.83M	56.10M	56.43M	56.68M	56.91M	56.82M	57.20M	57.41M	57.57M	57.58M	57.74M
Adjusted Diluted Earnings per Share	$2.10	$2.47	$1.77	$1.77	$2.14	$2.70	$2.22	$2.36	$2.09	$1.86	$1.87
Adjusted Weighted Average Diluted Shares Outstanding	55.83M	56.10M	56.43M	56.68M	56.91M	56.82M	57.20M	57.41M	57.57M	57.58M	57.74M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	55.83M	56.10M	56.43M	56.68M	56.91M	56.82M	57.20M	57.41M	57.57M	57.58M	57.74M
Normalized Net Operating Profit after Tax (NOPAT)	131	152	127	131	132	145	143	143	130	116	120
Normalized NOPAT Margin	12.99%	14.91%	12.87%	12.78%	13.46%	13.68%	13.84%	13.52%	12.48%	12.43%	12.78%
Pre Tax Income Margin	15.26%	16.35%	13.41%	13.37%	16.16%	18.61%	15.62%	16.32%	14.95%	14.58%	14.70%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	35.53%	34.79%	32.89%	30.37%	27.75%	27.15%	28.85%	29.16%	28.83%	27.68%	29.37%
Augmented Payout Ratio	91.91%	91.37%	90.79%	84.05%	78.41%	63.60%	60.13%	57.81%	52.08%	66.07%	78.95%

Frequently Asked Questions About Lincoln Electric's Financials

When does Lincoln Electric's financial year end?

According to the most recent income statement we have on file, Lincoln Electric's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Lincoln Electric's net income changed over the last 9 years?

Lincoln Electric's net income appears to be on an upward trend, with a most recent value of $466.11 million in 2024, rising from $127.41 million in 2015. The previous period was $545.25 million in 2023. Check out Lincoln Electric's forecast to explore projected trends and price targets.

What is Lincoln Electric's operating income?

Lincoln Electric's total operating income in 2024 was $636.46 million, based on the following breakdown:

Total Gross Profit: $1.47 billion
Total Operating Expenses: $836.45 million

How has Lincoln Electric revenue changed over the last 9 years?

Over the last 9 years, Lincoln Electric's total revenue changed from $2.54 billion in 2015 to $4.01 billion in 2024, a change of 58.1%.

How much debt does Lincoln Electric have?

Lincoln Electric's total liabilities were at $2.19 billion at the end of 2024, a 6.0% increase from 2023, and a 157.4% increase since 2015.

How much cash does Lincoln Electric have?

In the past 9 years, Lincoln Electric's cash and equivalents has ranged from $192.96 million in 2021 to $393.79 million in 2023, and is currently $377.26 million as of their latest financial filing in 2024.

How has Lincoln Electric's book value per share changed over the last 9 years?

Over the last 9 years, Lincoln Electric's book value per share changed from 12.86 in 2015 to 23.53 in 2024, a change of 83.0%.

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This page (NASDAQ:LECO) was last updated on 5/31/2025 by MarketBeat.com Staff

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Lincoln Electric (LECO) Financials

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Lincoln Electric (LECO) Financials

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