LECO (Lincoln Electric Holdings) EBIT: $748 Mil (TTM As of Mar. 2026)


LECO Lincoln Electric Holdings Inc LECO
97 GF Score
Price $268.82
GF Value $236.84
Valuation Modestly Overvalued
! 4 Warning Signs
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What is Lincoln Electric Holdings EBIT?

Lincoln Electric Holdings LECO -0.07% 97 EBIT is $748 Mil as of Mar. 2026. GuruFocus rates LECO with a GF Score™ of 97/100 and a GF Value™ of $236.84 (Modestly Overvalued). The stock has 4 warning signs investors should review.

Lincoln Electric Holdings's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was $187 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was $748 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Lincoln Electric Holdings's annualized ROC % for the quarter that ended in Mar. 2026 was 19.07%. Lincoln Electric Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 54.34%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Lincoln Electric Holdings's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 4.75%.


Lincoln Electric Holdings  (NAS:LECO) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Lincoln Electric Holdings's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=753.284 * ( 1 - 21.33% )/( (3060.526 + 3153.354)/ 2 )
=592.6085228/3106.94
=19.07 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=3777.577 - 408.262 - ( 308.789 - max(0, 956.691 - 1739.512+308.789))
=3060.526

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=3900.395 - 448.138 - ( 298.903 - max(0, 1020.357 - 1863.444+298.903))
=3153.354

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Lincoln Electric Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=746.912/( ( (702.762 + max(617.812, 0)) + (720.836 + max(707.686, 0)) )/ 2 )
=746.912/( ( 1320.574 + 1428.522 )/ 2 )
=746.912/1374.548
=54.34 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(538.791 + 633.364 + 258.568) - (408.262 + 0 + 404.649)
=617.812

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(598.315 + 693.938 + 272.288) - (448.138 + 0 + 408.717)
=707.686

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Lincoln Electric Holdings's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=748.377/15745.033
=4.75 %

* 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 EBIT Related Terms


Lincoln Electric Holdings EBIT Historical Data

* Premium members only.

The historical data trend for Lincoln Electric Holdings's EBIT 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 EBIT Chart

Lincoln Electric Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 347.21 622.33 731.24 636.94 727.01

Lincoln Electric Holdings Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 165.36 196.18 179.64 185.83 186.73

LECO vs SWK, RBC, SNA: EBIT Comparison

For the Tools & Accessories subindustry, Lincoln Electric Holdings's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT 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 EV-to-EBIT vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Lincoln Electric Holdings's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Lincoln Electric Holdings's EV-to-EBIT falls into.


LECO
97GF Score
Lincoln Electric Holdings Inc LECO
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Lincoln Electric Holdings EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $748 Mil.

* 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.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of $748 Mil mean?
Lincoln Electric Holdings (LECO) has a EBIT of $748 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Lincoln Electric Holdings.
Is Lincoln Electric Holdings' EBIT too high?
Lincoln Electric Holdings' current EBIT is $748 Mil. 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' EBIT compare to SWK and RBC?
Lincoln Electric Holdings' EBIT of $748 Mil can be compared against companies in the Industrial Products industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for an Industrial Products company?
A good EBIT depends on the Industrial Products industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Lincoln Electric Holdings. Lincoln Electric Holdings's current EBIT is $748 Mil. 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 (LECO) is currently considered Modestly Overvalued. The stock's GF Value™ is $236.84, compared to a current price of $268.82 — trading 13.5% above its estimated fair value. The current EBIT is $748 Mil. 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 EBIT calculated?
EBIT is calculated from a company's financial statements. For Lincoln Electric Holdings (LECO), the current EBIT is $748 Mil 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 (LECO) Overvalued in 2026?

Based on GuruFocus' analysis, Lincoln Electric Holdings stock appears to be overvalued. The current stock price of $268.82 is trading 13.5% above its estimated GF Value™ of $236.84. GuruFocus considers Lincoln Electric Holdings to be Modestly Overvalued.

Key valuation signals for LECO:

  • EBIT: $748 Mil
  • GF Value™: $236.84 vs. price of $268.82 (13.5% above fair value)
  • GF Score™: 97/100 with 4 warning signs

No single metric tells the full story. See the LECO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Lincoln Electric Holdings Business Description

Other Exchanges LNE:Germany
Address 22801 Saint Clair Avenue, Cleveland, OH, USA, 44117
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 LECO

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$268.82
Price
$236.84
GF Value