LECO Lincoln Electric Holdings margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 76

Gross margin

35.5%

Operating margin

17.3%

EBITDA margin

19.6%

Net margin

12.4%

Currently, Lincoln Electric Holdings has a gross margin of 35.5%, an operating margin of 17.3%, an EBITDA margin of 19.6%, and a net margin of 12.4%. The largest positive change was in operating margin, up 0.3 percentage points. The largest negative change was in gross margin, down 1.1 percentage points.

LECO margin history

Gross, operating, EBITDA and net margin trends

Lincoln Electric Holdings's margins averaged 36.13% gross, 16.78% operating, 19.13% EBITDA, and 12.33% net during the last 3 years. Current figures show operating, EBITDA, and net margins are above their three-year averages, while gross margin is below its three-year average.

LECO margin expansion

Year-over-year margin changes in percentage points

The largest positive change was in operating margin, up 0.3 percentage points. Ebitda margin also expanded by 0.1 percentage points, while gross margin contracted by 1.1 percentage points and net margin by 0.2 percentage points.

Gross margin expansion

-1.1pp

Operating margin expansion

0.3pp

EBITDA margin expansion

0.1pp

Net margin expansion

-0.2pp

LECO Gross margin

Lincoln Electric Holdings recorded an average gross margin of 36.13% across the last 3 years. Lincoln Electric Holdings's current gross margin is 35.5% and is 0.6 percentage points below its three-year average. The highest gross margin for Lincoln Electric Holdings was 36.7% in Dec 2024, while the lowest was 35% in Dec 2023.

LECO Operating margin

Across the last 3 years, Lincoln Electric Holdings's operating margin averaged 16.78%. The current operating margin stands at 17.3%, 0.5 percentage points above its three-year average. Operating margin was highest at 17.4% in Mar 2024 and lowest at 15.8% in Mar 2025.

LECO EBITDA margin

The average EBITDA margin for Lincoln Electric Holdings was 19.13% over the last 3 years. The current EBITDA margin of 19.6% is 0.5 percentage points above its three-year average. The EBITDA margin for Lincoln Electric Holdings moved between 18% in Mar 2025 and 19.8% in Mar 2024.

LECO Net margin

Across the last 3 years, Lincoln Electric Holdings's net margin came to 12.33%. The current net margin stands at 12.4%, 0.1 percentage points above its three-year average. Net margin was highest at 13.2% in Mar 2024 and lowest at 11.4% in Mar 2025.

LECO margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 35.5%, LECO stands above the Industrials sector average but below the industry and its peers average. Looking at its Industrials sector average of 32.5%, Lincoln Electric Holdings's gross margin is 9% higher.

LECO margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Lincoln Electric Holdings's gross margin?

The current gross margin for LECO is 35.5% as of Sep 30, 2026.

What is Lincoln Electric Holdings's operating margin?

The current operating margin for LECO is 17.3% as of Sep 30, 2026.

What is Lincoln Electric Holdings's EBITDA margin?

As of Sep 30, 2026, LECO has an EBITDA margin of 19.6%.

What is Lincoln Electric Holdings's net margin?

As of Sep 30, 2026, LECO has a net margin of 12.4%.

What are the average margins of LECO?

Across the last 3 years, LECO averaged 36.1% gross, 16.8% operating, 19.1% EBITDA, and 12.3% net.

What are the highest historical margins of LECO?

In the last 5 years, the highest margins reported by LECO were 36.7% gross in Dec 2024, 17.4% operating in Mar 2024, 19.8% EBITDA in Mar 2024, and 13.2% net in Mar 2024.

What are the lowest historical margins of LECO?

Lincoln Electric Holdings's lowest recorded margins during the past 5 years were 33% gross in Dec 2021, 14.3% operating in Dec 2021, 13.2% EBITDA in Dec 2021, and 8.6% net in Dec 2021.