Lincoln Electric HoldingsLECO +0.90%98 PB Ratio is 9.44 as of Jul. 02, 2026, which is 14% above its 10-year median of 8.31. GuruFocus rates LECO with a GF Score™ of 98/100 and a GF Value™ of $237.21 (Fairly Valued). The stock has 2 warning signs investors should review. Among 2,981 Industrial Products companies, Lincoln Electric Holdings ranks worse than 90.94% on this metric.
The historical rank and industry rank for Lincoln Electric Holdings's PB Ratio or its related term are showing as below:
LECO'
s PB Ratio Range Over the Past 10 Years
Min: 4.8 Med: 8.31 Max: 11.23
Current: 9.44
During the past 13 years, Lincoln Electric Holdings's highest PB Ratio was 11.23. The lowest was 4.80. And the median was 8.31.
LECO's PB Ratio is ranked worse than 90.94% of 2981
companies
in the Industrial Products industry
Industry Median: 2.29
vs LECO: 9.44
During the past 12 months, Lincoln Electric Holdings's average Book Value Per Share Growth Rate was 14.90% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 14.30% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 16.00% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 8.20% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Lincoln Electric Holdings was 22.20% per year. The lowest was -16.90% per year. And the median was 6.30% per year.
Back to Basics: PB Ratio
Lincoln Electric Holdings (NAS:LECO) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Lincoln Electric Holdings PB Ratio Related Terms
Lincoln Electric Holdings PB 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.
For the Tools & Accessories subindustry, Lincoln Electric Holdings's PB Ratio, along with its competitors' market caps and PB 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 PB Ratio vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Lincoln Electric Holdings's PB Ratio distribution charts can be found below:
* The bar in red indicates where Lincoln Electric Holdings's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Lincoln Electric Holdings (LECO) has a PB Ratio of 9.44 as of Jul. 02, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Lincoln Electric Holdings and its competitors. This is 14% above median its historical median of 8.31. Over the past decade, Lincoln Electric Holdings' PB Ratio has ranged from 4.80 to 11.23. According to the industry distribution chart, Lincoln Electric Holdings ranks #2711 out of 2981 companies in the Industrial Products industry, placing it in the top 90.9%.
Is Lincoln Electric Holdings' PB Ratio too high?
Lincoln Electric Holdings' current PB Ratio of 9.44 is 14% above median its 10-year median of 8.31. Over the past 10 years, this metric has ranged from a low of 4.80 to a high of 11.23. The Industrial Products industry median PB Ratio is 2.29. Lincoln Electric Holdings' value of 9.44 is 312.2% above this industry median. Based on the distribution chart, Lincoln Electric Holdings ranks #2711 out of 2981 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Lincoln Electric Holdings has a GF Score™ of 98/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Lincoln Electric Holdings' PB Ratio compare to SWK and TKR?
According to the Industrial Products industry distribution chart, Lincoln Electric Holdings ranks #2711 out of 2981 companies for PB Ratio. This places Lincoln Electric Holdings in the lower half of its industry. The industry median PB Ratio is 2.29. Lincoln Electric Holdings' value of 9.44 is 312.2% above this benchmark. Historically, Lincoln Electric Holdings' own PB Ratio has ranged from 4.80 to 11.23 over the past decade. While the company's 10-year median is 8.31 vs. the industry median of 2.29, Lincoln Electric Holdings has consistently been above 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 PB Ratio for an Industrial Products company?
The median PB Ratio among Industrial Products companies is 2.29, based on 2,981 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Lincoln Electric Holdings's current PB Ratio of 9.44 is 312.2% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Lincoln Electric Holdings and its competitors. For the Industrial Products industry, the median PB Ratio is 2.29 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Lincoln Electric Holdings's current PB Ratio is 9.44, which is 14% above median its own 10-year median of 8.31. 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 $237.21, compared to a current price of $260.43 — trading 9.8% above its estimated fair value. The current PB Ratio is 9.44, which is 14% above median its 10-year median of 8.31 and 312.2% above the Industrial Products industry median of 2.29. Lincoln Electric Holdings' overall GF Score™ is 98/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Lincoln Electric Holdings (LECO), the current PB Ratio is 9.44 as of Jul. 02, 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 $260.43 is trading 9.8% above its estimated GF Value™ of $237.21.
GuruFocus considers Lincoln Electric Holdings to be Fairly Valued.
Key valuation signals for LECO:
PB Ratio: 9.44 (14% above median its 10-year median of 8.31)
GF Value™: $237.21 vs. price of $260.43 (9.8% above fair value)
Industry Position: 312.2% above the Industrial Products median (#2711 of 2981)
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.
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