Lincoln Electric (LECO) Financials

$185.76 -0.58 (-0.31%)

Closing price 04:00 PM Eastern

Extended Trading

$186.02 +0.25 (+0.14%)

As of 05:48 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	127	198	248	287	293	206	277	472	545	466
Consolidated Net Income / (Loss)	127	198	247	287	293	206	277	472	545	466
Net Income / (Loss) Continuing Operations	127	198	247	287	293	206	277	472	545	466
Total Pre-Tax Income	170	277	366	369	368	264	325	593	687	594
Total Operating Income	182	284	377	376	371	282	462	612	718	636
Total Gross Profit	841	787	875	1,029	1,008	871	1,069	1,281	1,465	1,473
Total Revenue	2,536	2,275	2,624	3,029	3,003	2,655	3,234	3,761	4,192	4,009
Operating Revenue	2,536	2,275	2,624	3,029	3,003	2,655	3,234	3,761	4,192	4,009
Total Cost of Revenue	1,695	1,488	1,749	2,000	1,996	1,784	2,166	2,480	2,726	2,536
Operating Cost of Revenue	1,695	1,488	1,749	2,000	1,996	1,784	2,166	2,480	2,726	2,536
Total Operating Expenses	659	503	498	653	637	589	607	668	748	836
Selling, General & Admin Expense	497	469	541	628	621	544	597	657	759	781
Restructuring Charge	20	0.00	6.59	25	15	45	9.83	12	-11	56
Total Other Income / (Expense), net	-12	-6.23	-11	-6.88	-2.42	-18	-137	-20	-31	-42
Interest & Investment Income	5.73	2.09	4.79	-18	-23	-22	-22	-30	-44	-43
Other Income / (Expense), net	4.18	11	8.73	11	21	3.94	-114	9.99	13	0.47
Income Tax Expense	42	79	119	82	75	58	48	121	142	128
Basic Earnings per Share	$1.72	$2.94	$3.76	$4.42	$4.73	$3.46	$4.66	$8.14	$9.50	$8.23
Weighted Average Basic Shares Outstanding	74.11M	67.46M	65.74M	64.89M	60.36M	59.66M	58.73M	57.58M	56.82M	56.10M
Diluted Earnings per Share	$1.70	$2.91	$3.71	$4.37	$4.68	$3.42	$4.60	$8.04	$9.37	$8.15
Weighted Average Diluted Shares Outstanding	74.11M	67.46M	65.74M	64.89M	60.36M	59.66M	58.73M	57.58M	56.82M	56.10M
Weighted Average Basic & Diluted Shares Outstanding	74.11M	67.46M	65.74M	64.89M	60.36M	59.66M	58.73M	57.58M	56.82M	56.10M
Cash Dividends to Common per Share	$1.19	$1.31	$1.44	$1.64	$1.90	$1.98	$2.09	$2.32	$2.63	$2.88

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

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

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

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

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

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

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

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

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

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.

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 4/25/2025 by MarketBeat.com Staff

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Lincoln Electric (LECO) Financials

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Lincoln Electric (LECO) Financials

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