“Gross profit as a percentage of sales decreased 0.2% for the nine months ended September 30, 2025 as compared to the same 2024 period, driven by lower volumes partially offset by effective cost management.”10-Q · Oct 30, 2025 ↗
Lincoln Electric Holdings, Inc.
LECO
Market read
Lincoln Electric Holdings, Inc.'s current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 32 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.
- Revenue increased 11.7% versus the comparable filing period.
- Gross margin fell 0.8 percentage points.
- LECO's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if LECO's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 32 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.
- Revenue increased 11.7% versus the comparable filing period.
- Net income increased 15.1% versus the comparable filing period.
- Gross margin fell 0.8 percentage points.
- LECO's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Latest annual revenue changed +5.6% year over year.
- Operating margin changed +1.1 percentage points in the latest annual period.
No qualifying adverse evidence was identified; that is not proof there is no downside.
- P/E is 21% below the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 170% above the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 11, 2026
252.99Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
Valuation discipline
Descriptive valuation snapshot
Price/sales 3.3× · EV/sales 3.5×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for LECO. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
Fundamentals strengthened in the latest filing
10-Q filed 2026-04-30 against the comparable filing from 2025-04-30.
What improved
- Revenue increased 11.7% versus the comparable filing period.
- Net income increased 15.1% versus the comparable filing period.
What weakened
- Gross margin fell 0.8 percentage points.
Filing receipts
“Income Taxes: The effective tax rate was lower for the three months ended March 31, 2026 as compared to the same 2025 period, primarily due to the mix of earnings and timing of discrete tax items.”
“Selling, general & administrative expenses as a percentage of sales decreased primarily due to higher organic sales.”
“The increase in organic sales for the three months ended March 31, 2026 is driven by an increase in pricing primarily due to higher input costs, partially offset by lower volumes.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind LECO
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depended on by
ESABESAB CorporationcompetitorFeb 20, 2026 ▾
“The markets that we compete in are also served by Lincoln Electric and the welding business within Illinois Tool Works.”
Filing peers
No filing peers are available for this name yet.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
LECO is currently a Follower in the organic co-movement group Industrial Machinery. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.