Lincoln Electric Holdings, Inc., through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products in the United States and internationally. It operates in three segments: Americas Welding, International Welding, and The Harris Products Group. The company offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding …
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Competitive advantage assessment
Key strengths
Margins Stable Across CyclesOperating margin volatility is low (stability score 0.92), demonstrating pricing resilience across cycles.
ROIC Sustainably Above PeersROIC at 88.6th percentile exceeds peers and WACC, demonstrating superior capital allocation.
The dashed ring is the peer median. Defense scores are percentile ranks
against peers, so 50 is roughly the typical company in this group.
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Where LECO ranks in Industrials: Machinery, Electrical & Equipment
Lincoln Electric Holdings, Inc. ranks #33 of 216
scored companies in Industrials: Machinery, Electrical & Equipment by moat score — the top 15%.
The widest moat in the group is Snap-On Incorporated (SNA)
at 88/100.
Moat scores for companies ranked near LECO in Industrials: Machinery, Electrical & Equipment
Pricing power is the ability to raise prices without losing volume.
Cost Advantage
Score 72
· 15% of the moat score
A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.
Customer Stickiness
Score 76
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 80
· 18% of the moat score
Capital efficiency asks what the company earns on the money tied up in the business.
Resilience
Score 61
· 17% of the moat score
Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.
Scale & Market Position
Score 67
· 15% of the moat score
Scale matters only when it converts into economics.
What is Lincoln Electric Holdings, Inc.'s moat score?
Lincoln Electric Holdings, Inc. (LECO) scores 73 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #33 of 216 scored companies in Industrials: Machinery, Electrical & Equipment, the top 15%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 215 companies in Industrials: Machinery, Electrical & Equipment. Its strongest defense is Pricing Power (81/100) and its weakest is Resilience (61/100).
How does Lincoln Electric Holdings, Inc. compare with other Industrials: Machinery, Electrical & Equipment companies?
Lincoln Electric Holdings, Inc. ranks #33 of 216 scored companies in Industrials: Machinery, Electrical & Equipment by moat score. The widest moat in Industrials: Machinery, Electrical & Equipment is Snap-On Incorporated (SNA) at 88/100. The companies ranked closest are Advanced Drainage Systems, Inc. (WMS) at 74 just above it and Energizer Holdings, Inc. (ENR) at 73 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 215 companies in Industrials: Machinery, Electrical & Equipment. The defenses are then weighted to produce the overall score out of 100.
Why is Lincoln Electric Holdings, Inc. scored with the Corporate Default template?
Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.
Which competitive defenses are measured for Lincoln Electric Holdings, Inc.?
The Corporate Default template measures 6 defenses, and LECO scores: Pricing Power (81), Cost Advantage (72), Customer Stickiness (76), Capital Efficiency (80), Resilience (61), Scale & Market Position (67). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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