LECO
Lincoln Electric Holdings, Inc.
LECO has lower modeled downside risk, despite its lower overall score.
VRT
Vertiv Holdings Co
VRT has the edge over LECO overall, supported by stronger valuation and stronger modeled upside.
LECO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Healthy |
LECO's revenue, profitability, cash flow and balance sheet are all currently healthy.
VRT Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
VRT's revenue, profitability, cash flow and balance sheet are all currently strong.
LECO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 21x | $214 | -25% |
| Forward | 23x | $285 | — |
| Fair | 25x | $263 | -7.7% |
| Current | 27x | $285 | — |
| Expensive | 29x | $300 | +5.5% |
Historical ranges are pointers, not guarantees.
LECO's PE is in its expensive range at 27x. If earnings grow as analysts expect, today's price would be 23x next year's earnings, in its cheap range.
VRT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 23x | $210 | — |
| Current | 39x | $210 | — |
| Cheap | 58x | $308 | +47% |
| Fair | 72x | $383 | +83% |
| Expensive | 88x | $472 | +125% |
Historical ranges are pointers, not guarantees.
VRT has the edge over LECO in the historical PE scenario, which offers more potential upside but is not a forecast.
LECO Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for LECO, with profitability improving.
VRT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Moderate |
Analysts expect strong earnings and revenue growth for VRT, with profitability improving.
LECO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $12.52 | +20% |
| Q3 2026 | $10.43 | +12% |
| Q2 2026 | $10.01 | +12% |
| Q1 2026 | $9.69 | +19% |
| Q4 2025 | $9.32 | +14% |
| Q3 2025 | $9.34 | +11% |
| Q2 2025 | $8.90 | +0.8% |
| Q1 2025 | $8.11 | -14% |
| Q4 2024 | $8.15 | -13% |
LECO earned $10.43 per share over the past year, up 12% from the year before.
VRT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.14 | +71% |
| Q3 2026 | $5.35 | +102% |
| Q2 2026 | $4.42 | +111% |
| Q1 2026 | $3.98 | +131% |
| Q4 2025 | $3.41 | +166% |
| Q3 2025 | $2.65 | +75% |
| Q2 2025 | $2.09 | +62% |
| Q1 2025 | $1.72 | +64% |
| Q4 2024 | $1.28 | +7.6% |
VRT has the edge over LECO on earnings, with more consistent year-over-year improvement.
LECO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.2B | +15% |
| Q2 2026 | $1.2B | +12% |
| Q1 2026 | $1.1B | +12% |
| Q4 2025 | $1.1B | +5.5% |
| Q3 2025 | $1.1B | +7.9% |
| Q2 2025 | $1.1B | +6.6% |
| Q1 2025 | $1B | +2.4% |
| Q4 2024 | $1B | -3.4% |
LECO's revenue has grown year over year for seven quarters in a row: $1.2B last quarter, up 15% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 17% | +0.7 points |
| Q2 2026 | 18% | +0.4 points |
| Q1 2026 | 17% | +0.2 points |
| Q4 2025 | 17% | -0.2 points |
| Q3 2025 | 17% | +1.8 points |
| Q2 2025 | 18% | +3.1 points |
| Q1 2025 | 16% | -0.4 points |
| Q4 2024 | 17% | -2 points |
LECO's operating margin was 17% last quarter, up 0.7 points from the same quarter a year ago.
VRT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.3B | +61% |
| Q2 2026 | $3.3B | +24% |
| Q1 2026 | $2.6B | +30% |
| Q4 2025 | $2.9B | +23% |
| Q3 2025 | $2.7B | +29% |
| Q2 2025 | $2.6B | +35% |
| Q1 2025 | $2B | +24% |
| Q4 2024 | $2.3B | +26% |
VRT has the edge over LECO on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 23% | +3.5 points |
| Q2 2026 | 19% | +2.7 points |
| Q1 2026 | 17% | +2.3 points |
| Q4 2025 | 20% | +0.7 points |
| Q3 2025 | 19% | +1.4 points |
| Q2 2025 | 17% | -0.4 points |
| Q1 2025 | 14% | +1.9 points |
| Q4 2024 | 19% | +4.2 points |
VRT has the edge over LECO on profitability, with a higher operating margin.
LECO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $174.5M | -15% |
| Q2 2026 | $222.3M | +88% |
| Q1 2026 | $63M | -60% |
| Q4 2025 | $52M | -19% |
| Q3 2025 | $205.1M | +25% |
| Q2 2025 | $118.4M | -20% |
| Q1 2025 | $158.7M | +48% |
| Q4 2024 | $64.3M | -34% |
LECO's free cash flow has been positive every quarter for seven years: $512M over the past year, down 6.3% from the year before.
VRT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $654.9M | +41% |
| Q2 2026 | $926.5M | +233% |
| Q1 2026 | $654.2M | +145% |
| Q4 2025 | $885.6M | +143% |
| Q3 2025 | $463.5M | +36% |
| Q2 2025 | $277.9M | -19% |
| Q1 2025 | $266.8M | +162% |
| Q4 2024 | $364.5M | +18% |
VRT has the edge over LECO on cash flow, with more consistent year-over-year improvement.
LECO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -229K shares |
| 1 year | -1.3% | -701K shares |
| 3 years | -5.6% | -3.3M shares |
| 5 years | -8.6% | -5.2M shares |
| Available history | -12% | -7.8M shares |
LECO has the edge over VRT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $99.4M |
| Q2 2026 | $76.1M |
| Q1 2026 | $56.7M |
| Q4 2025 | $51.8M |
| Q3 2025 | $52.7M |
| Q2 2025 | $127.1M |
| Q1 2025 | $106.7M |
| Q4 2024 | $52.5M |
LECO spent $284M buying back its own shares over the past year, down 16% from the year before.
VRT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -64.9K shares |
| 1 year | +0.4% | +1.8M shares |
| 3 years | +1.1% | +4.4M shares |
| 5 years | +10% | +36M shares |
| Available history | +63% | +152M shares |
VRT has 393M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | $599.9M |
LECO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.0x | Very low |
| Q2 2026 | 1.0x | Healthy |
| Q1 2026 | 1.2x | Healthy |
| Q4 2025 | 1.2x | Healthy |
| Q3 2025 | 1.2x | Healthy |
| Q2 2025 | 1.2x | Healthy |
| Q1 2025 | 1.2x | Healthy |
| Q4 2024 | 1.2x | Healthy |
LECO's net debt is about a year of its operating earnings (EBITDA), down from 1.2 years a year ago.
VRT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | 0.1x | Very low |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | 0.8x | Very low |
| Q2 2025 | 0.7x | Very low |
| Q1 2025 | 0.8x | Very low |
| Q4 2024 | 1.0x | Healthy |
VRT has the edge over LECO on leverage, with a lower net debt burden relative to earnings.
LECO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 58.1 | Neutral |
| Stochastic | 72.2 | Neutral |
LECO's weekly RSI is 58 (neutral) and its Stochastic is 72 (neutral).
VRT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.0 | Neutral |
| Stochastic | 26.4 | Neutral |
VRT's weekly RSI is 43 (neutral) and its Stochastic is 26 (neutral).
LECO PE vs Industrials Sector
| Metric | LECO | Sector median | Relative |
|---|---|---|---|
| PE | 27x | 24x | 14% above |
| PE % | 71 | 58 | 13 pts above |
LECO has the edge over VRT on valuation relative to its sector.
VRT PE vs Industrials Sector
| Metric | VRT | Sector median | Relative |
|---|---|---|---|
| PE | 39x | 24x | 63% above |
| PE % | 3 | 58 | 55 pts below |
VRT is trading at 39x earnings, a 63% premium to the Industrials sector's median of 24x.
LECO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $270.3 | 5.3% above |
| 20 week MA | $268.0 | 6.2% above |
| 50 week MA | $264.2 | 7.7% above |
| 100 week MA | $237.8 | 20% above |
| 200 week MA | $217.7 | 31% above |
LECO has the edge over VRT on trend strength, trading above more of its moving averages.
VRT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $221.8 | 5.5% below |
| 20 week MA | $254.4 | 18% below |
| 50 week MA | $253.9 | 17% below |
| 100 week MA | $189.1 | 11% above |
| 200 week MA | $123.5 | 70% above |
VRT has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 70% above its 200-week average.
LECO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $97.5 | $118.8 | +22% |
| 2021 | $118.8 | $137.6 | +16% |
| 2022 | $137.6 | $145.1 | +5.4% |
| 2023 | $145.1 | $217.5 | +50% |
| 2024 | $217.5 | $189.9 | -13% |
| 2025 | $189.9 | $246.5 | +30% |
| 2026 YTD | $246.5 | $284.6 | +15% |
LECO has finished higher in five of the last six years. It's up 15% so far in 2026.
VRT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.9 | $18.9 | +73% |
| 2021 | $18.9 | $24.9 | +31% |
| 2022 | $24.9 | $12.8 | -48% |
| 2023 | $12.8 | $48.0 | +275% |
| 2024 | $48.0 | $115.1 | +140% |
| 2025 | $115.1 | $167.6 | +46% |
| 2026 YTD | $167.6 | $209.6 | +25% |
VRT has the edge over LECO on returns for 2026, with the stronger performance.