Lincoln Electric Holdings Inc (LECO)

Metalworkg Machinery & Equipment

Latest Price

$264.58

TTM P/E

26.43

Normalized P/E

30.31

Div Yield

1.18%

Book Value

28.51

P/B Ratio

9.28

Valuation metrics

EPS: $9.32

Book value / share: $26.80

Formula: √(22.5 × EPS × BVPS)

Graham Number

$74.96

72% downside

Norm. op. income: $612M (median of 7yr)

Tax rate: 21%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$70.66

73% downside

Base FCF: $482M (median of recent 5yr)

Growth: 3%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$113.92

57% downside

EPS: $9.32

Target P/E: 30×

Formula: EPS × P/E

P/E Fair Value

$279.60

+6% upside

80.5% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	5.39M	$1.43B	9.89%	+168.4K	2026-06-30
Vanguard Portfolio Management LLC	2.56M	$680.0M	4.71%	+26.5K	2026-06-30
Vanguard Capital Management LLC	2.48M	$657.0M	4.54%	+17.3K	2026-06-30
State Street Corp	2.25M	$600.0M	4.14%	+25.8K	2026-06-30
Norges Bank	1.73M	$458.0M	3.17%	-3.9K	2026-06-30
Geode Capital Management, LLC	1.45M	$384.0M	2.65%	+81.0K	2026-06-30
Victory Capital Management Inc	1.39M	$369.0M	2.55%	-92.5K	2026-06-30
Invesco Ltd.	1.31M	$348.0M	2.41%	+143.3K	2026-06-30
JPMorgan Chase & Co	1.04M	$275.0M	1.91%	-238.3K	2026-06-30
AQR Capital Management LLC	922.2K	$244.0M	1.69%	-213.3K	2026-06-30