Intrinsic value of Lincoln Electric Holdings - LECO

Previous Close

$94.86

  Intrinsic Value

$175.30

stock screener

  Rating & Target

str. buy

+85%

Previous close

$94.86

 
Intrinsic value

$175.30

 
Up/down potential

+85%

 
Rating

str. buy

We calculate the intrinsic value of LECO stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 6.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  26.00
  23.90
  22.01
  20.31
  18.78
  17.40
  16.16
  15.04
  14.04
  13.14
  12.32
  11.59
  10.93
  10.34
  9.80
  9.32
  8.89
  8.50
  8.15
  7.84
  7.55
  7.30
  7.07
  6.86
  6.68
  6.51
  6.36
  6.22
  6.10
  5.99
Revenue, $m
  3,307
  4,097
  4,999
  6,014
  7,143
  8,386
  9,742
  11,207
  12,781
  14,460
  16,241
  18,124
  20,105
  22,183
  24,358
  26,629
  28,997
  31,462
  34,027
  36,694
  39,465
  42,345
  45,338
  48,449
  51,683
  55,046
  58,545
  62,188
  65,980
  69,932
Variable operating expenses, $m
  2,831
  3,502
  4,268
  5,130
  6,089
  7,144
  8,295
  9,539
  10,875
  12,301
  13,790
  15,388
  17,070
  18,835
  20,681
  22,610
  24,620
  26,713
  28,891
  31,155
  33,508
  35,954
  38,495
  41,136
  43,882
  46,738
  49,709
  52,801
  56,022
  59,377
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,831
  3,502
  4,268
  5,130
  6,089
  7,144
  8,295
  9,539
  10,875
  12,301
  13,790
  15,388
  17,070
  18,835
  20,681
  22,610
  24,620
  26,713
  28,891
  31,155
  33,508
  35,954
  38,495
  41,136
  43,882
  46,738
  49,709
  52,801
  56,022
  59,377
Operating income, $m
  476
  595
  731
  884
  1,055
  1,242
  1,447
  1,668
  1,906
  2,159
  2,451
  2,736
  3,035
  3,348
  3,677
  4,019
  4,377
  4,749
  5,136
  5,538
  5,957
  6,392
  6,843
  7,313
  7,801
  8,309
  8,837
  9,387
  9,959
  10,555
EBITDA, $m
  567
  703
  858
  1,032
  1,226
  1,439
  1,672
  1,923
  2,193
  2,481
  2,787
  3,110
  3,450
  3,807
  4,180
  4,570
  4,976
  5,399
  5,839
  6,297
  6,772
  7,266
  7,780
  8,314
  8,869
  9,446
  10,046
  10,671
  11,322
  12,000
Interest expense (income), $m
  19
  38
  59
  83
  110
  141
  175
  213
  254
  299
  347
  398
  452
  509
  569
  632
  698
  767
  839
  914
  992
  1,073
  1,157
  1,244
  1,335
  1,430
  1,528
  1,630
  1,736
  1,847
  1,962
Earnings before tax, $m
  438
  536
  648
  774
  914
  1,067
  1,234
  1,414
  1,607
  1,812
  2,054
  2,284
  2,526
  2,779
  3,044
  3,321
  3,610
  3,910
  4,222
  4,547
  4,884
  5,235
  5,599
  5,977
  6,371
  6,781
  7,207
  7,650
  8,112
  8,593
Tax expense, $m
  118
  145
  175
  209
  247
  288
  333
  382
  434
  489
  555
  617
  682
  750
  822
  897
  975
  1,056
  1,140
  1,228
  1,319
  1,413
  1,512
  1,614
  1,720
  1,831
  1,946
  2,066
  2,190
  2,320
Net income, $m
  319
  391
  473
  565
  667
  779
  901
  1,032
  1,173
  1,323
  1,499
  1,667
  1,844
  2,029
  2,222
  2,424
  2,635
  2,854
  3,082
  3,319
  3,565
  3,821
  4,087
  4,364
  4,651
  4,950
  5,261
  5,585
  5,922
  6,273

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,034
  3,759
  4,586
  5,518
  6,554
  7,694
  8,937
  10,282
  11,725
  13,266
  14,900
  16,627
  18,445
  20,352
  22,347
  24,430
  26,603
  28,864
  31,217
  33,664
  36,207
  38,849
  41,595
  44,449
  47,416
  50,501
  53,711
  57,053
  60,533
  64,158
Adjusted assets (=assets-cash), $m
  3,034
  3,759
  4,586
  5,518
  6,554
  7,694
  8,937
  10,282
  11,725
  13,266
  14,900
  16,627
  18,445
  20,352
  22,347
  24,430
  26,603
  28,864
  31,217
  33,664
  36,207
  38,849
  41,595
  44,449
  47,416
  50,501
  53,711
  57,053
  60,533
  64,158
Revenue / Adjusted assets
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
Average production assets, $m
  724
  897
  1,095
  1,317
  1,564
  1,837
  2,133
  2,454
  2,799
  3,167
  3,557
  3,969
  4,403
  4,858
  5,334
  5,832
  6,350
  6,890
  7,452
  8,036
  8,643
  9,274
  9,929
  10,610
  11,319
  12,055
  12,821
  13,619
  14,450
  15,315
Working capital, $m
  430
  533
  650
  782
  929
  1,090
  1,266
  1,457
  1,661
  1,880
  2,111
  2,356
  2,614
  2,884
  3,167
  3,462
  3,770
  4,090
  4,424
  4,770
  5,130
  5,505
  5,894
  6,298
  6,719
  7,156
  7,611
  8,084
  8,577
  9,091
Total debt, $m
  1,091
  1,536
  2,043
  2,614
  3,249
  3,948
  4,710
  5,534
  6,419
  7,363
  8,365
  9,424
  10,538
  11,707
  12,930
  14,207
  15,539
  16,925
  18,368
  19,867
  21,426
  23,046
  24,729
  26,478
  28,297
  30,189
  32,156
  34,205
  36,338
  38,560
Total liabilities, $m
  1,860
  2,304
  2,811
  3,382
  4,017
  4,716
  5,479
  6,303
  7,188
  8,132
  9,134
  10,192
  11,307
  12,476
  13,699
  14,976
  16,307
  17,694
  19,136
  20,636
  22,195
  23,814
  25,498
  27,247
  29,066
  30,957
  32,925
  34,973
  37,106
  39,329
Total equity, $m
  1,174
  1,455
  1,775
  2,135
  2,536
  2,978
  3,459
  3,979
  4,538
  5,134
  5,766
  6,435
  7,138
  7,876
  8,648
  9,455
  10,295
  11,171
  12,081
  13,028
  14,012
  15,034
  16,097
  17,202
  18,350
  19,544
  20,786
  22,079
  23,426
  24,829
Total liabilities and equity, $m
  3,034
  3,759
  4,586
  5,517
  6,553
  7,694
  8,938
  10,282
  11,726
  13,266
  14,900
  16,627
  18,445
  20,352
  22,347
  24,431
  26,602
  28,865
  31,217
  33,664
  36,207
  38,848
  41,595
  44,449
  47,416
  50,501
  53,711
  57,052
  60,532
  64,158
Debt-to-equity ratio
  0.930
  1.060
  1.150
  1.220
  1.280
  1.330
  1.360
  1.390
  1.410
  1.430
  1.450
  1.460
  1.480
  1.490
  1.500
  1.500
  1.510
  1.520
  1.520
  1.520
  1.530
  1.530
  1.540
  1.540
  1.540
  1.540
  1.550
  1.550
  1.550
  1.550
Adjusted equity ratio
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387
  0.387

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  319
  391
  473
  565
  667
  779
  901
  1,032
  1,173
  1,323
  1,499
  1,667
  1,844
  2,029
  2,222
  2,424
  2,635
  2,854
  3,082
  3,319
  3,565
  3,821
  4,087
  4,364
  4,651
  4,950
  5,261
  5,585
  5,922
  6,273
Depreciation, amort., depletion, $m
  92
  108
  127
  148
  171
  197
  225
  255
  288
  322
  336
  374
  415
  458
  503
  550
  599
  650
  703
  758
  815
  875
  937
  1,001
  1,068
  1,137
  1,210
  1,285
  1,363
  1,445
Funds from operations, $m
  411
  499
  600
  713
  838
  976
  1,125
  1,287
  1,460
  1,645
  1,835
  2,042
  2,259
  2,487
  2,726
  2,975
  3,234
  3,504
  3,785
  4,077
  4,381
  4,696
  5,024
  5,365
  5,719
  6,087
  6,470
  6,869
  7,285
  7,718
Change in working capital, $m
  89
  103
  117
  132
  147
  162
  176
  191
  205
  218
  232
  245
  258
  270
  283
  295
  308
  320
  333
  347
  360
  374
  389
  404
  420
  437
  455
  473
  493
  514
Cash from operations, $m
  322
  397
  483
  581
  691
  814
  949
  1,097
  1,256
  1,427
  1,603
  1,797
  2,002
  2,217
  2,443
  2,679
  2,926
  3,184
  3,452
  3,730
  4,020
  4,322
  4,635
  4,960
  5,298
  5,650
  6,015
  6,396
  6,792
  7,204
Maintenance CAPEX, $m
  -54
  -68
  -85
  -103
  -124
  -148
  -173
  -201
  -232
  -264
  -299
  -336
  -374
  -415
  -458
  -503
  -550
  -599
  -650
  -703
  -758
  -815
  -875
  -937
  -1,001
  -1,068
  -1,137
  -1,210
  -1,285
  -1,363
New CAPEX, $m
  -150
  -173
  -197
  -222
  -247
  -272
  -297
  -321
  -345
  -368
  -390
  -412
  -434
  -455
  -476
  -497
  -519
  -540
  -562
  -584
  -607
  -631
  -655
  -681
  -708
  -737
  -766
  -798
  -831
  -865
Cash from investing activities, $m
  -204
  -241
  -282
  -325
  -371
  -420
  -470
  -522
  -577
  -632
  -689
  -748
  -808
  -870
  -934
  -1,000
  -1,069
  -1,139
  -1,212
  -1,287
  -1,365
  -1,446
  -1,530
  -1,618
  -1,709
  -1,805
  -1,903
  -2,008
  -2,116
  -2,228
Free cash flow, $m
  118
  155
  201
  255
  320
  394
  479
  574
  680
  795
  914
  1,049
  1,193
  1,346
  1,508
  1,679
  1,858
  2,045
  2,240
  2,443
  2,655
  2,876
  3,104
  3,342
  3,589
  3,845
  4,112
  4,389
  4,676
  4,976
Issuance/(repayment) of debt, $m
  385
  444
  507
  571
  635
  699
  762
  824
  885
  944
  1,002
  1,059
  1,114
  1,169
  1,223
  1,277
  1,332
  1,386
  1,442
  1,500
  1,559
  1,620
  1,683
  1,749
  1,819
  1,891
  1,968
  2,048
  2,133
  2,222
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  385
  444
  507
  571
  635
  699
  762
  824
  885
  944
  1,002
  1,059
  1,114
  1,169
  1,223
  1,277
  1,332
  1,386
  1,442
  1,500
  1,559
  1,620
  1,683
  1,749
  1,819
  1,891
  1,968
  2,048
  2,133
  2,222
Total cash flow (excl. dividends), $m
  503
  600
  708
  826
  955
  1,093
  1,241
  1,399
  1,565
  1,739
  1,916
  2,108
  2,307
  2,515
  2,731
  2,956
  3,189
  3,431
  3,682
  3,943
  4,214
  4,495
  4,788
  5,092
  5,408
  5,737
  6,080
  6,437
  6,809
  7,198
Retained Cash Flow (-), $m
  -242
  -281
  -320
  -360
  -401
  -441
  -481
  -520
  -559
  -596
  -633
  -668
  -703
  -738
  -772
  -806
  -841
  -875
  -911
  -947
  -984
  -1,023
  -1,063
  -1,104
  -1,148
  -1,194
  -1,242
  -1,293
  -1,347
  -1,403
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  260
  319
  387
  466
  554
  652
  760
  878
  1,006
  1,143
  1,284
  1,439
  1,604
  1,777
  1,959
  2,150
  2,348
  2,556
  2,772
  2,996
  3,230
  3,473
  3,725
  3,987
  4,260
  4,543
  4,837
  5,144
  5,463
  5,795
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  250
  292
  337
  383
  429
  473
  514
  549
  578
  599
  610
  614
  610
  597
  575
  546
  511
  471
  427
  381
  334
  288
  244
  203
  166
  133
  104
  80
  60
  44
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Lincoln Electric Holdings, Inc. is a manufacturer of welding, cutting and brazing products. The Company operates through three segments: Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment primarily includes welding operations in Europe, Africa, Asia and Australia. The Harris Products Group includes the Company's global cutting, soldering and brazing businesses, as well as the retail business in the United States. Its welding products include arc welding power sources, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication. Its product offerings also include computer numeric controlled plasma and oxy-fuel cutting systems, and regulators and torches used in oxy-fuel welding, cutting and brazing.

FINANCIAL RATIOS  of  Lincoln Electric Holdings (LECO)

Valuation Ratios
P/E Ratio 31.5
Price to Sales 2.7
Price to Book 8.8
Price to Tangible Book
Price to Cash Flow 20.6
Price to Free Cash Flow 24.6
Growth Rates
Sales Growth Rate -10.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -2%
Cap. Spend. - 3 Yr. Gr. Rate -8%
Financial Strength
Quick Ratio 190
Current Ratio 0.2
LT Debt to Equity 99%
Total Debt to Equity 99.3%
Interest Coverage 16
Management Effectiveness
Return On Assets 11.4%
Ret/ On Assets - 3 Yr. Avg. 10.6%
Return On Total Capital 14.6%
Ret/ On T. Cap. - 3 Yr. Avg. 13.9%
Return On Equity 24.1%
Return On Equity - 3 Yr. Avg. 17.9%
Asset Turnover 1.2
Profitability Ratios
Gross Margin 34.7%
Gross Margin - 3 Yr. Avg. 33.9%
EBITDA Margin 15.9%
EBITDA Margin - 3 Yr. Avg. 14.1%
Operating Margin 12.7%
Oper. Margin - 3 Yr. Avg. 11%
Pre-Tax Margin 12.2%
Pre-Tax Margin - 3 Yr. Avg. 10.7%
Net Profit Margin 8.7%
Net Profit Margin - 3 Yr. Avg. 7.6%
Effective Tax Rate 28.5%
Eff/ Tax Rate - 3 Yr. Avg. 28.8%
Payout Ratio 43.9%

LECO stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the LECO stock intrinsic value calculation we used $2624.431 million for the last fiscal year's total revenue generated by Lincoln Electric Holdings. The default revenue input number comes from 0001 income statement of Lincoln Electric Holdings. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our LECO stock valuation model: a) initial revenue growth rate of 26% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for LECO is calculated based on our internal credit rating of Lincoln Electric Holdings, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Lincoln Electric Holdings.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of LECO stock the variable cost ratio is equal to 85.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for LECO stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Lincoln Electric Holdings.

Corporate tax rate of 27% is the nominal tax rate for Lincoln Electric Holdings. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the LECO stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for LECO are equal to 21.9%.

Life of production assets of 10.6 years is the average useful life of capital assets used in Lincoln Electric Holdings operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for LECO is equal to 13%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $931.637 million for Lincoln Electric Holdings - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 65.559 million for Lincoln Electric Holdings is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Lincoln Electric Holdings at the current share price and the inputted number of shares is $6.2 billion.

RELATED COMPANIES Price Int.Val. Rating
CFX Colfax 35.45 37.80  hold
KMT Kennametal 43.40 1.61  str.sell
ITW Illinois Tool 146.20 175.26  buy
HURC Hurco 45.20 7.20  str.sell

COMPANY NEWS

▶ Is Lincoln Electric Holdings Inc (NASDAQ:LECO) Undervalued?   [Sep-02-18 09:48AM  Simply Wall St.]
▶ Lincoln Electric: 2Q Earnings Snapshot   [07:39AM  Associated Press]
▶ Patrick P. Goris Elected to Lincoln Electric Board   [Jul-20-18 04:30PM  GlobeNewswire]
▶ Lincoln Electric Board Declares Dividend   [Jul-19-18 04:30PM  GlobeNewswire]
▶ Lincoln Electric: 1Q Earnings Snapshot   [07:40AM  Associated Press]
▶ Lincoln Electric Board Declares Dividend   [Apr-19-18 04:30PM  GlobeNewswire]
▶ 3 Winners From This Big Industrial Investing Trend   [Apr-12-18 06:33AM  Motley Fool]
▶ Dr. Ben Patel Elected to Lincoln Electric Board   [Feb-22-18 04:30PM  GlobeNewswire]
▶ Lincoln Electric Board Declares Dividend   [Feb-21-18 04:30PM  GlobeNewswire]
▶ Lincoln Electric beats Street 4Q forecasts   [Feb-14-18 10:59AM  Associated Press]
▶ Lincoln Electric Schedules 2018 Shareholders Meeting   [Jan-16-18 04:30PM  GlobeNewswire]
▶ Lincoln Electric Holdings, Inc. to Host Earnings Call   [Oct-27-17 07:40AM  ACCESSWIRE]
▶ Lincoln Electric meets 3Q profit forecasts   [07:37AM  Associated Press]
▶ Lincoln Electric Earns Relative Strength Rating Upgrade; Hits Key Threshold   [Oct-25-17 03:00AM  Investor's Business Daily]
▶ Dow Sprints To Record High; New Breakouts Emerge In Industrials   [Oct-24-17 01:42PM  Investor's Business Daily]
▶ Lincoln Electric Board Approves 11.4% Dividend Increase   [Oct-17-17 04:30PM  GlobeNewswire]

CONTACT US       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.