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Lincoln Electric Holdings (NAS:LECO) Forward PE Ratio Explanation
The Forward PE Ratio of a company is often used to compare current earnings to estimated future earnings, as well as gaining a clearer picture of what earnings will look like without charges and other accounting adjustments. If earnings are expected to grow in the future, the Forward PE Ratio will be lower than the current PE Ratio. This measure is also used to compare one company to another with a forward-looking focus.
Trailing PE Ratio relies on what is already done. It uses the current share price and divides by the total EPS (Basic) over the past 12 months. PE Ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than PE Ratio .
Lincoln Electric Holdings Forward PE Ratio Related Terms
Lincoln Electric Holdings Forward PE Ratio Historical Data
* 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 Forward PE Ratio Chart
Lincoln Electric Holdings Annual Data
Trend
2015-12
2016-12
2017-12
2018-12
2019-12
2020-12
2021-12
2022-12
2023-12
2024-12
2025-12
Forward PE Ratio
14.45
22.22
21.14
14.45
19.12
24.81
20.00
16.81
22.52
20.51
22.93
Lincoln Electric Holdings Quarterly Data
2015-12
2016-03
2016-06
2016-09
2016-12
2017-03
2017-06
2017-09
2017-12
2018-03
2018-06
2018-09
2018-12
2019-03
2019-06
2019-09
2019-12
2020-03
2020-06
2020-09
2020-12
2021-03
2021-06
2021-09
2021-12
2022-03
2022-06
2022-09
2022-12
2023-03
2023-06
2023-09
2023-12
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
2026-03
Forward PE Ratio
14.45
15.50
17.64
17.89
22.22
25.19
25.64
22.03
21.14
18.94
18.38
17.45
14.45
15.82
15.77
15.82
19.12
14.18
26.60
20.08
24.81
25.13
24.33
20.12
20.00
18.83
16.16
14.64
16.81
19.23
22.32
18.76
22.52
26.32
20.79
19.57
20.51
20.28
23.26
22.31
22.93
22.93
LECO vs SWK, TKR, RBC: Forward PE Ratio Comparison
For the Tools & Accessories subindustry, Lincoln Electric Holdings's Forward PE Ratio, along with its competitors' market caps and Forward PE Ratio 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 Forward PE Ratio vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Lincoln Electric Holdings's Forward PE Ratio distribution charts can be found below:
* The bar in red indicates where Lincoln Electric Holdings's Forward PE Ratio falls into.
Lincoln Electric Holdings Forward PE Ratio Calculation
It's a measure of the price-to-earnings ratio (PE Ratio) using forecasted earnings for the calculation. While the earnings used are just an estimate and are not as reliable as current earnings data, there is still benefit in estimated P/E analysis. The forecasted earnings used in the formula can either be for the next 12 months or for the next full-year fiscal period.
Lincoln Electric Holdings (LECO) has a Forward PE Ratio of 23.16 as of Jul. 18, 2026. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on Lincoln Electric Holdings and its competitors. According to the industry distribution chart, Lincoln Electric Holdings ranks #789 out of 1286 companies in the Industrial Products industry, placing it in the top 61.4%.
Is Lincoln Electric Holdings' Forward PE Ratio too high?
Lincoln Electric Holdings' current Forward PE Ratio is 23.16. The Industrial Products industry median Forward PE Ratio is 18.87. Lincoln Electric Holdings' value of 23.16 is 22.8% above this industry median. Based on the distribution chart, Lincoln Electric Holdings ranks #789 out of 1286 companies in the Industrial Products industry, which is below the industry midpoint. Overall, Lincoln Electric Holdings has a GF Score™ of 97/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Lincoln Electric Holdings' Forward PE Ratio compare to SWK and TKR?
According to the Industrial Products industry distribution chart, Lincoln Electric Holdings ranks #789 out of 1286 companies for Forward PE Ratio. This places Lincoln Electric Holdings in the lower half of its industry. The industry median Forward PE Ratio is 18.87. Lincoln Electric Holdings' value of 23.16 is 22.8% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Forward PE Ratio for an Industrial Products company?
The median Forward PE Ratio among Industrial Products companies is 18.87, based on 1,286 companies in the industry. Companies in the top quartile (top 25%) have a Forward PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Forward PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Lincoln Electric Holdings's current Forward PE Ratio of 23.16 is 22.8% above 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 Forward PE Ratio mean?
A high Forward PE Ratio can signal that a stock is expensive relative to its fundamentals. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on Lincoln Electric Holdings and its competitors. For the Industrial Products industry, the median Forward PE Ratio is 18.87 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Lincoln Electric Holdings's current Forward PE Ratio is 23.16. 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 Fairly Valued. The stock's GF Value™ is $238.10, compared to a current price of $252.74 — trading 6.1% above its estimated fair value. The current Forward PE Ratio is 23.16 and 22.8% above the Industrial Products industry median of 18.87. Lincoln Electric Holdings' overall GF Score™ is 97/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Forward PE Ratio calculated?
Forward PE Ratio is calculated from a company's financial statements. For Lincoln Electric Holdings (LECO), the current Forward PE Ratio is 23.16 as of Jul. 18, 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 $252.74 is trading 6.1% above its estimated GF Value™ of $238.10.
GuruFocus considers Lincoln Electric Holdings to be Fairly Valued.
Key valuation signals for LECO:
Forward PE Ratio: 23.16
GF Value™: $238.10 vs. price of $252.74 (6.1% above fair value)
Industry Position: 22.8% above the Industrial Products median (#789 of 1286)
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 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
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Forward PE Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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