LINCOLN ELECTRIC HOLDINGS INC
LECO · Metalworkg Machinery & Equipment · 54.8M shares · -2%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $173M (gross $199M, SBC $26M)
Reference price $274.81 · est. market cap ~$15.1B — last insider sale, 2026-06-16 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
A85Global arc-welding and cutting leader with top-decile ROA, ~35% ROE and durable moat from brand, distribution and R&D.
Strengths
- Top-decile ROA (13.8%, 93.1th) and exceptional ROE (35.4%, 85.4th)
- Strong, expanding margins (operating 17%, 83.2th) with double-digit net income growth (11.7%)
- Market-leading welding franchise with pricing power, technical sales force and global distributor network
Risks
- Mature, cyclical welding demand tied to industrial capital spending
- Tariff/trade and FX exposure across a broad international footprint
- Moderate leverage (debt-to-equity 0.88)
Notable findings
- Strong balance sheetStrong balance sheet — $309M cash & investments
- China exposureand foreign laws and regulations, including regulations relating to import-export control, technology transfer restrictions, repatriation of earnings and funds, exchange controls, labor regulations, n
- Insider sellingInsider selling — 7 open-market sale(s) by 3 insider(s) (cluster of 3 insiders, ~$8M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
36.2%
Operating margin
17.0%
Net margin
12.3%
Return on equity
35.4%
Return on assets
13.8%
ROIC
20.5%
Revenue growth (QoQ)
4.0%
Net-income growth
11.7%
Debt / equity
0.9×
Net debt / EBITDA
1.2×
Current ratio
1.8×
EBITDA
$817M
Tangible book value
$333M
Cash & investments
$309M
Stock comp / revenue
0.5%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-16 | Whitehead Michael J | Sell | 845 | $274.81 |
| 2026-05-01 | Doria Gregory | Tax withheld | 44 | $266.25 |
| 2026-04-17 | Chambers Brian | Grant | 688 | — |
| 2026-04-17 | ESPELAND CURTIS E | Grant | 688 | — |
| 2026-04-17 | Lincoln Kathryn Jo | Grant | 688 | — |
| 2026-04-17 | Fetch Bonnie J | Grant | 688 | — |
| 2026-04-17 | Benny Purushotam Patel | Grant | 688 | — |
| 2026-04-17 | Goris Patrick P. | Grant | 688 | — |
| 2026-04-17 | Falotico Nancy Joy | Grant | 688 | — |
| 2026-04-17 | Howze Marc A | Grant | 688 | — |
| 2026-04-17 | Hilton Michael F | Grant | 688 | — |
| 2026-03-02 | Bruno Gabriel | Sell | 12K | $286.23 |
| 2026-03-02 | Bruno Gabriel | Sell | 3.2K | $287.14 |
| 2026-03-02 | Bruno Gabriel | Gift | 2.9K | — |
| 2026-03-02 | Bruno Gabriel | Grant | 2.8K | — |
| 2026-03-02 | Ansberry Jennifer I | Tax withheld | 770 | $287.09 |
| 2026-03-02 | Dietrich Lisa | Grant | 662 | — |
| 2026-03-02 | Dietrich Lisa | Tax withheld | 199 | $287.09 |
| 2026-03-02 | Doria Gregory | Grant | 486 | — |
| 2026-03-02 | Doria Gregory | Tax withheld | 146 | $287.09 |
| 2026-03-02 | Whitehead Michael J | Grant | 662 | — |
| 2026-03-02 | Whitehead Michael J | Tax withheld | 199 | $287.09 |
| 2026-03-02 | Ansberry Jennifer I | Grant | 1.7K | — |
| 2026-03-02 | Hedlund Steven B | Grant | 3.2K | — |
| 2026-03-02 | Bruno Gabriel | Option exercise | 17K | $114.27 |
| 2026-03-02 | Bruno Gabriel | Sell | 2.4K | $285.44 |
| 2026-02-19 | Whitehead Michael J | Tax withheld | 82 | $288.12 |
| 2026-02-19 | Dietrich Lisa | Tax withheld | 61 | $288.12 |
| 2026-02-19 | Ansberry Jennifer I | Tax withheld | 153 | $288.12 |
| 2026-02-19 | Edwards Susan C | Tax withheld | 93 | $288.12 |
| 2026-02-19 | Hedlund Steven B | Tax withheld | 496 | $288.12 |
| 2026-02-19 | Doria Gregory | Tax withheld | 25 | $288.12 |
| 2026-02-19 | Bruno Gabriel | Tax withheld | 161 | $288.12 |
| 2026-02-18 | Dietrich Lisa | Grant | 513 | — |
| 2026-02-18 | Doria Gregory | Grant | 630 | — |
| 2026-02-18 | Edwards Susan C | Grant | 598 | — |
| 2026-02-18 | Whitehead Michael J | Grant | 800 | — |
| 2026-02-18 | Ansberry Jennifer I | Grant | 769 | — |
| 2026-02-18 | Hedlund Steven B | Grant | 5.3K | — |
| 2026-02-18 | Bruno Gabriel | Grant | 1.4K | — |
| 2026-02-17 | Ansberry Jennifer I | Sell | 7.8K | $288.65 |
| 2026-02-17 | Ansberry Jennifer I | Sell | 2.4K | $289.18 |
| 2026-02-17 | Ansberry Jennifer I | Sell | 500 | $290.38 |
| 2026-02-17 | Ansberry Jennifer I | Option exercise | 11K | $114.27 |
| 2026-02-13 | Dietrich Lisa | Tax withheld | 195 | $293.68 |
| 2026-02-13 | Bruno Gabriel | Tax withheld | 600 | $293.68 |
| 2026-02-13 | Doria Gregory | Tax withheld | 150 | $293.68 |
| 2026-02-13 | Whitehead Michael J | Tax withheld | 194 | $293.68 |
| 2026-02-13 | Ansberry Jennifer I | Tax withheld | 465 | $293.68 |
| 2025-12-10 | ESPELAND CURTIS E | Grant | 257 | — |
| 2025-12-10 | Fetch Bonnie J | Grant | 257 | — |
| 2025-12-10 | Benny Purushotam Patel | Grant | 257 | — |
| 2025-12-10 | Goris Patrick P. | Grant | 257 | — |
| 2025-12-10 | Howze Marc A | Grant | 257 | — |
| 2025-12-10 | Falotico Nancy Joy | Grant | 257 | — |
| 2025-12-10 | Hilton Michael F | Grant | 257 | — |
| 2025-12-10 | Chambers Brian | Grant | 257 | — |
| 2025-12-10 | Mason Phillip J | Grant | 257 | — |
| 2025-12-10 | Lincoln Kathryn Jo | Grant | 257 | — |
| 2025-10-17 | Bruno Gabriel | Tax withheld | 261 | $235.02 |
| 2025-09-16 | Whitehead Michael J | Sell | 1.0K | $233.23 |
| 2025-09-11 | Hedlund Steven B | Option exercise | 12K | $89.63 |
| 2025-09-11 | Hedlund Steven B | Sell | 4.3K | $242.87 |
| 2025-09-11 | Hedlund Steven B | Sell | 6.9K | $243.49 |
| 2025-09-11 | Hedlund Steven B | Sell | 1.2K | $244.36 |
| 2025-08-22 | Hedlund Steven B | Tax withheld | 416 | $245.25 |
| 2025-08-12 | Ansberry Jennifer I | Sell | 3.0K | $242.18 |
| 2025-08-08 | Bruno Gabriel | Option exercise | 7.3K | $89.63 |
| 2025-08-08 | Bruno Gabriel | Sell | 7.3K | $242.42 |
| 2025-08-08 | Bruno Gabriel | Gift | 315 | — |
| 2025-08-04 | Benny Purushotam Patel | Sell | 1.1K | $244.00 |
| 2025-07-18 | Whitehead Michael J | Tax withheld | 935 | $221.98 |
| 2025-05-09 | Dietrich Lisa | Tax withheld | 204 | $185.88 |
| 2025-05-09 | Hedlund Steven B | Tax withheld | 835 | $185.88 |
| 2025-05-01 | Doria Gregory | Grant | 549 | — |
| 2025-03-03 | Whitehead Michael J | Grant | 1.2K | — |
| 2025-03-03 | Whitehead Michael J | Tax withheld | 373 | $200.31 |
| 2025-03-03 | Hedlund Steven B | Grant | 4.5K | — |
| 2025-03-03 | Hedlund Steven B | Tax withheld | 2.0K | $200.31 |
| 2025-03-03 | Doria Gregory | Grant | 793 | — |
| 2025-03-03 | Doria Gregory | Tax withheld | 230 | $200.31 |
| 2025-03-03 | Dietrich Lisa | Grant | 1.1K | — |
| 2025-03-03 | Dietrich Lisa | Tax withheld | 345 | $200.31 |
| 2025-03-03 | Ansberry Jennifer I | Grant | 3.1K | — |
| 2025-03-03 | Ansberry Jennifer I | Tax withheld | 1.4K | $200.31 |
| 2025-03-03 | Ansberry Jennifer I | Option exercise | 11K | $89.63 |
| 2025-03-03 | Ansberry Jennifer I | Sell | 11K | $205.21 |
| 2025-03-03 | Bruno Gabriel | Grant | 5.0K | — |
| 2025-03-03 | Bruno Gabriel | Option exercise | 6.7K | $88.44 |
| 2025-03-03 | Bruno Gabriel | Sell | 6.6K | $203.53 |
| 2025-03-03 | Bruno Gabriel | Sell | 100 | $204.40 |
| 2025-03-03 | Bruno Gabriel | Gift | 2.5K | — |
| 2025-02-25 | LINCOLN KATHRYN JO | Gift | 475 | — |
| 2025-02-19 | Hedlund Steven B | Grant | 6.7K | — |
| 2025-02-19 | Hedlund Steven B | Option exercise | 9.3K | $90.70 |
| 2025-02-19 | Hedlund Steven B | Option exercise | 12K | $88.44 |
| 2025-02-19 | Hedlund Steven B | Sell | 3.3K | $214.01 |
| 2025-02-19 | Hedlund Steven B | Sell | 7.1K | $214.98 |
| 2025-02-19 | Hedlund Steven B | Sell | 9.4K | $216.18 |
| 2025-02-19 | Hedlund Steven B | Sell | 1.3K | $216.71 |
| 2025-02-19 | Ansberry Jennifer I | Grant | 1.0K | — |
| 2025-02-19 | Bruno Gabriel | Grant | 1.9K | — |
| 2025-02-19 | Dietrich Lisa | Grant | 638 | — |
| 2025-02-19 | Doria Gregory | Grant | 334 | — |
| 2025-02-19 | Edwards Susan C | Grant | 789 | — |
| 2025-02-19 | Whitehead Michael J | Grant | 820 | — |
| 2025-02-19 | Falotico Nancy Joy | Grant | 578 | — |
| 2025-02-14 | Whitehead Michael J | Tax withheld | 252 | $213.82 |
| 2025-02-14 | Pletcher Peter M. | Tax withheld | 188 | $213.82 |
| 2025-02-14 | Kuhrt Michele R | Tax withheld | 333 | $213.82 |
| 2025-02-14 | Hedlund Steven B | Tax withheld | 679 | $213.82 |
| 2025-02-14 | Doria Gregory | Tax withheld | 161 | $213.82 |
| 2025-02-14 | Bruno Gabriel | Tax withheld | 757 | $213.82 |
| 2025-02-14 | Ansberry Jennifer I | Tax withheld | 583 | $213.82 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-04-30 | 2026-04-30 | 0000059527-26-000010 ↗ |
| 10-Q | 2026-04-30 | 2026-03-31 | 0000059527-26-000012 ↗ |
| 8-K | 2026-04-21 | 2026-04-17 | 0001193125-26-166965 ↗ |
| 10-K | 2026-02-25 | 2025-12-31 | 0000059527-26-000006 ↗ |
| 8-K | 2026-02-12 | 2026-02-12 | 0000059527-26-000003 ↗ |
| 8-K | 2025-10-30 | 2025-10-30 | 0000059527-25-000030 ↗ |
| 10-Q | 2025-10-30 | 2025-09-30 | 0000059527-25-000032 ↗ |
| 8-K | 2025-10-20 | 2025-10-15 | 0001193125-25-243028 ↗ |
| 8-K | 2025-07-31 | 2025-07-31 | 0000059527-25-000022 ↗ |
| 10-Q | 2025-07-31 | 2025-06-30 | 0000059527-25-000024 ↗ |
| 8-K | 2025-04-30 | 2025-04-30 | 0000059527-25-000011 ↗ |
| 10-Q | 2025-04-30 | 2025-03-31 | 0000059527-25-000013 ↗ |