Lincoln Electric Holdings Inc income statement
In fiscal 2025, Lincoln Electric Holdings Inc reported revenue of $4.23bn, up 5.6% on the year before, operating income of $718m (a 17.0% margin) and net income of $521m, or $9.32 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,729 | 2,070 | 2,695 | 2,853 | 2,853 | 2,813 | 2,536 | 2,275 | 2,624 | 3,029 | 3,003 | 2,655 | 3,234 | 3,761 | 4,192 | 4,009 | 4,233 | 4,641 |
| Cost of revenue | — | — | — | — | — | — | — | — | 1,749 | 2,000 | 1,996 | 1,784 | 2,166 | 2,480 | 2,726 | 2,536 | 2,699 | 2,994 |
| Gross profit | 456 | 564 | 737 | 867 | 943 | 949 | 841 | 787 | 875 | 1,029 | 1,008 | 871 | 1,069 | 1,281 | 1,465 | 1,473 | 1,534 | 1,647 |
| Research and development | 28 | 29 | 33 | 37 | 42 | 43 | 47 | 45 | 48 | 54 | 57 | 51 | 56 | 63 | 71 | 82 | 86 | — |
| Selling, general and administrative | 333 | 378 | 440 | 495 | 527 | 545 | 497 | 469 | 541 | 628 | 621 | 544 | 597 | 657 | 759 | 781 | 798 | 825 |
| Operating income | 93 | 186 | 297 | 362 | 407 | 374 | 182 | 284 | 377 | 376 | 371 | 282 | 462 | 612 | 718 | 636 | 718 | 803 |
| Interest expense | 9 | 7 | 7 | 4 | 3 | 10 | 22 | 19 | 24 | 25 | 26 | 24 | 24 | 31 | 51 | 53 | 58 | 56 |
| Net interest income | — | — | — | — | — | — | — | −17 | −19 | −18 | −23 | — | — | — | — | — | — | — |
| Income before tax | 87 | 187 | 301 | 370 | 416 | 376 | 170 | 277 | 366 | 369 | 368 | 264 | 325 | 593 | 687 | 594 | 675 | 754 |
| Income tax | 38 | 55 | 84 | 112 | 125 | 122 | 42 | 79 | 119 | 82 | 75 | 58 | 48 | 121 | 142 | 128 | 155 | 179 |
| Net income | 49 | 130 | 217 | 257 | 294 | 255 | 127 | 198 | 248 | 287 | 293 | 206 | 277 | 472 | 545 | 466 | 521 | 575 |
| Diluted EPS | $0.57 | $1.53 | $2.56 | $3.06 | $3.54 | $3.18 | $1.70 | $2.91 | $3.71 | $4.37 | $4.68 | $3.42 | $4.60 | $8.04 | $9.37 | $8.15 | $9.32 | $10.43 |
| Diluted shares (average) | 85m | 85m | 85m | 84m | 83m | 80m | 75m | 68m | 67m | 66m | 63m | 60m | 60m | 59m | 58m | 57m | 56m | 55m |
| EBITDA | 150 | 244 | 359 | 427 | 476 | 443 | 246 | 349 | 445 | 448 | 452 | 363 | 543 | 690 | 805 | 725 | 817 | 906 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,022 | 1,004 | 1,089 | 1,061 | 1,079 | 1,121 | 1,220 | 1,221 |
| Cost of revenue | 653 | 639 | 683 | 672 | 705 | 722 | 771 | 796 |
| Gross profit | 369 | 365 | 406 | 389 | 374 | 399 | 449 | 425 |
| Selling, general and administrative | 187 | 197 | 211 | 207 | 184 | 211 | 225 | 206 |
| Operating income | 177 | 165 | 192 | 177 | 184 | 186 | 221 | 211 |
| Interest expense | 14 | 14 | 14 | 15 | 15 | 15 | 14 | 13 |
| Income before tax | 167 | 153 | 184 | 166 | 173 | 173 | 208 | 200 |
| Income tax | 27 | 35 | 40 | 43 | 37 | 37 | 49 | 56 |
| Net income | 140 | 118 | 143 | 123 | 136 | 136 | 159 | 144 |
| Diluted EPS | $2.47 | $2.10 | $2.56 | $2.21 | $2.46 | $2.47 | $2.88 | $2.63 |
| EBITDA | 200 | 189 | 217 | 201 | 210 | 212 | 247 | 238 |
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