Lincoln Electric HoldingsSTU:LNE -1.67%97 Capex-to-Operating-Income is 0.21 as of Mar. 2026, which is 24% above its 10-year median of 0.17. GuruFocus rates STU:LNE with a GF Score™ of 97/100 and a GF Value™ of €203.21 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 1,913 Industrial Products companies, Lincoln Electric Holdings ranks better than 78.25% on this metric.
Capex-to-Operating-Income measures a company's investments in physical assets such as property, industrial buildings or equipment to its operating income.
Hence, Lincoln Electric Holdings's Capex-to-Operating-Income for the
three
months ended in Mar. 2026 was 0.21.
Lincoln Electric Holdings (STU:LNE) Capex-to-Operating-Income Explanation
Capex-to-Operating-Income assesses how much emphasis a company is placing upon investing in capital-intensive projects. The ratio is generally a good gauge to quantify how much focus on growth a company has. Typically, smaller companies that are still growing and expanding will have a higher Capex to Operating Income Ratio, since such businesses are likely investing more in physical assets. Lower ratios could indicate that a company has reached maturity and it is no longer pursuing aggressive growth.
Lincoln Electric Holdings Capex-to-Operating-Income Related Terms
Lincoln Electric Holdings Capex-to-Operating-Income Historical Data
* Premium members only.
The historical data trend for Lincoln Electric Holdings's Capex-to-Operating-Income can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Lincoln Electric Holdings Capex-to-Operating-Income Chart
STU:LNE vs SWK, RBC, SNA: Capex-to-Operating-Income Comparison
For the Tools & Accessories subindustry, Lincoln Electric Holdings's Capex-to-Operating-Income, along with its competitors' market caps and Capex-to-Operating-Income data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Lincoln Electric Holdings Capex-to-Operating-Income vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Lincoln Electric Holdings's Capex-to-Operating-Income distribution charts can be found below:
* The bar in red indicates where Lincoln Electric Holdings's Capex-to-Operating-Income falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Capex-to-Operating-Income of 0.21 mean?
Lincoln Electric Holdings (STU:LNE) has a Capex-to-Operating-Income of 0.21 as of Mar. 2026. Capex to Operating Income ratio measures a company's investments in physical assets to its operating income. View historical data on Lincoln Electric Holdings and its competitors. This is 24% above median its historical median of 0.17. Over the past decade, Lincoln Electric Holdings' Capex-to-Operating-Income has ranged from 0.12 to 0.19. According to the industry distribution chart, Lincoln Electric Holdings ranks #416 out of 1913 companies in the Industrial Products industry, placing it in the top 21.7%.
Is Lincoln Electric Holdings' Capex-to-Operating-Income too high?
Lincoln Electric Holdings' current Capex-to-Operating-Income of 0.21 is 24% above median its 10-year median of 0.17. Over the past 10 years, this metric has ranged from a low of 0.12 to a high of 0.19. The Industrial Products industry median Capex-to-Operating-Income is 0.48. Lincoln Electric Holdings' value of 0.21 is 56.3% below this industry median. Based on the distribution chart, Lincoln Electric Holdings ranks #416 out of 1913 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Lincoln Electric Holdings has a GF Score™ of 97/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Lincoln Electric Holdings' Capex-to-Operating-Income compare to SWK and RBC?
According to the Industrial Products industry distribution chart, Lincoln Electric Holdings ranks #416 out of 1913 companies for Capex-to-Operating-Income. This places Lincoln Electric Holdings in the top 22% of its industry — outperforming the majority of peers. The industry median Capex-to-Operating-Income is 0.48. Lincoln Electric Holdings' value of 0.21 is 56.3% below this benchmark. Historically, Lincoln Electric Holdings' own Capex-to-Operating-Income has ranged from 0.12 to 0.19 over the past decade. While the company's 10-year median is 0.17 vs. the industry median of 0.48, Lincoln Electric Holdings has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Capex-to-Operating-Income for an Industrial Products company?
The median Capex-to-Operating-Income among Industrial Products companies is 0.48, based on 1,913 companies in the industry. Companies in the top quartile (top 25%) have a Capex-to-Operating-Income significantly above this median, while those in the bottom quartile fall well below. However, Capex-to-Operating-Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Lincoln Electric Holdings's current Capex-to-Operating-Income of 0.21 is 56.3% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Capex-to-Operating-Income mean?
A high Capex-to-Operating-Income can signal that a stock is expensive relative to its fundamentals. Capex to Operating Income ratio measures a company's investments in physical assets to its operating income. View historical data on Lincoln Electric Holdings and its competitors. For the Industrial Products industry, the median Capex-to-Operating-Income is 0.48 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Lincoln Electric Holdings's current Capex-to-Operating-Income is 0.21, which is 24% above median its own 10-year median of 0.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lincoln Electric Holdings stock overvalued right now?
Based on GuruFocus' analysis, Lincoln Electric Holdings (STU:LNE) is currently considered Modestly Overvalued. The stock's GF Value™ is €203.21, compared to a current price of €236.00 — trading 16.1% above its estimated fair value. The current Capex-to-Operating-Income is 0.21, which is 24% above median its 10-year median of 0.17 and 56.3% below the Industrial Products industry median of 0.48. Lincoln Electric Holdings' overall GF Score™ is 97/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Capex-to-Operating-Income calculated?
Capex-to-Operating-Income is calculated from a company's financial statements. For Lincoln Electric Holdings (STU:LNE), the current Capex-to-Operating-Income is 0.21 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Lincoln Electric Holdings (STU:LNE) Overvalued in 2026?
Based on GuruFocus' analysis, Lincoln Electric Holdings stock appears to be overvalued.
The current stock price of €236.00 is trading 16.1% above its estimated GF Value™ of €203.21.
GuruFocus considers Lincoln Electric Holdings to be Modestly Overvalued.
Key valuation signals for STU:LNE:
Capex-to-Operating-Income: 0.21 (24% above median its 10-year median of 0.17)
GF Value™: €203.21 vs. price of €236.00 (16.1% above fair value)
Industry Position: 56.3% below the Industrial Products median (#416 of 1913)
No single metric tells the full story. See the STU:LNE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lincoln Electric is a leading manufacturer of welding, cutting, and brazing products. Its portfolio includes arc-welding solutions, plasma and oxy-fuel cutting systems, brazing and soldering alloys, and automation solutions. Lincoln Electric serves clients across general fabrication, heavy industries, automotive, construction, shipbuilding, energy, and process industries, among others. The company generated roughly $4.2 billion in sales in 2025.
97GF Score
Get the complete analysis for STU:LNE
Capex-to-Operating-Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
STU:LNE has been successfully added to your 
