CSL vs. LECO: Carlisle vs. Lincoln Electric Stock Comparison

November 11, 2026

How do Carlisle (CSL) and Lincoln Electric (LECO) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Carlisle (CSL) and Lincoln Electric (LECO) both fall under the Capital Goods industry group, but CSL is classified in Building Products while LECO is classified in Machinery.

Company profile comparison for Carlisle (CSL) and Lincoln Electric (LECO)
Profile Item	CSL	LECO
Name	Carlisle Companies Incorporated	Lincoln Electric Holdings, Inc.
Country/Region	United States	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Building Products	Machinery
GICS Sub-Industry	Building Products	Industrial Machinery & Supplies & Components
Market Capitalization	14.52 billion USD	14.91 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	February 21, 1973	April 7, 1994
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

CSL

LECO

GSPC

Carlisle (CSL) vs. Lincoln Electric (LECO), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

Loading price history…

Trailing total returns for Carlisle (CSL) and Lincoln Electric (LECO). Returns over one year are annualized.

Calendar-Year Returns

Loading price history…

Calendar-year total returns for Carlisle (CSL) and Lincoln Electric (LECO). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Carlisle (CSL) and Lincoln Electric (LECO)
Metric	CSL	LECO
Total Return (1Y)	24.99%	27.30%
Total Return (3Y, Annualized)	15.85%	17.31%
Total Return (5Y, Annualized)	12.02%	16.33%

Risk Profile

Drawdown History

CSL

LECO

GSPC

Carlisle (CSL) vs. Lincoln Electric (LECO), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

Loading price history…

Distribution of monthly total returns for Carlisle (CSL) and Lincoln Electric (LECO). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Carlisle (CSL) and Lincoln Electric (LECO)
Metric	CSL	LECO
Volatility (1Y, Annualized)	38.46%	31.13%
Beta (5Y)	0.76	1.17
Max Drawdown (5Y)	-37.72%	-34.29%
Avg. Volume (3M)	509.16K	409.99K

Risk-Adjusted Performance

Risk-Return Positioning

CSL and LECO are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Carlisle (CSL) and Lincoln Electric (LECO)
Metric	CSL	LECO
Sharpe Ratio (1Y)	0.54	0.74
Sortino Ratio (1Y)	0.87	1.11

Profitability

ROE (TTM)

Both companies show strong equity returns, but Carlisle (CSL) at 42.34% is the standout with ROE above its industry range; Lincoln Electric (LECO) at 38.75% also sits in the top quartile.

CSL

Capital Goods industry group

42.34%

CSL: 42.34%
Max: 40.55%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

LECO

Capital Goods industry group

38.75%

Max: 40.55%
LECO: 38.75%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

Carlisle (CSL) vs. Lincoln Electric (LECO): A comparison of their ROE against the Capital Goods industry group benchmark.

Net Margin (TTM)

For every dollar of sales, both Carlisle (CSL) at 13.78% and Lincoln Electric (LECO) at 12.40% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

CSL

Capital Goods industry group

13.78%

Max: 27.47%
CSL: 13.78%
Q3: 12.10%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

LECO

Capital Goods industry group

12.40%

Max: 27.47%
LECO: 12.40%
Q3: 12.10%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

Carlisle (CSL) vs. Lincoln Electric (LECO): A comparison of their net margin against the Capital Goods industry group benchmark.

Operating Margin (TTM)

Carlisle (CSL) at 20.21% operates in the top operating margin quartile, ahead of Lincoln Electric (LECO) at 18.29%, which runs around its industry’s norm.

CSL

Capital Goods industry group

20.21%

Max: 36.60%
CSL: 20.21%
Q3: 18.33%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

LECO

Capital Goods industry group

18.29%

Max: 36.60%
Q3: 18.33%
LECO: 18.29%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

Carlisle (CSL) vs. Lincoln Electric (LECO): A comparison of their operating margin against the Capital Goods industry group benchmark.

Profitability Metrics

Profitability metrics for Carlisle (CSL) and Lincoln Electric (LECO)
Metric	CSL	LECO
ROE (TTM)	42.34%	38.75%
ROA (TTM)	10.20%	13.32%
Net Margin (TTM)	13.78%	12.40%
Operating Margin (TTM)	20.21%	18.29%
Gross Margin (TTM)	34.66%	35.54%

Growth

Revenue Growth

Lincoln Electric (LECO) at 5.60% is around its peer norm for revenue growth, while Carlisle (CSL) at 0.33% drops into the bottom quartile, signaling weaker demand or pricing momentum.

Carlisle (CSL) vs. Lincoln Electric (LECO): A comparison of their Revenue Growth across different time periods.

EPS Growth

Lincoln Electric (LECO) at 14.36% is around its peer norm for EPS growth, while Carlisle (CSL) at -38.46% drops into the bottom quartile, signaling weaker earnings momentum.

Carlisle (CSL) vs. Lincoln Electric (LECO): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Carlisle (CSL) and Lincoln Electric (LECO)
Metric	CSL	LECO
Revenue Growth (YoY)	0.33%	5.60%
Revenue Growth (3Y CAGR)	-2.70%	4.02%
EPS Growth (YoY)	-38.46%	14.36%
EPS Growth (3Y CAGR)	-0.84%	5.05%

Financial Strength

Current Ratio (MRQ)

Both Carlisle (CSL) at 2.41 and Lincoln Electric (LECO) at 1.91 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

CSL

Capital Goods industry group

2.41

Max: 5.22
Q3: 2.95
CSL: 2.41
Median: 2.08
Q1: 1.43
Min: 0.36

LECO

Capital Goods industry group

1.91

Max: 5.22
Q3: 2.95
Median: 2.08
LECO: 1.91
Q1: 1.43
Min: 0.36

Carlisle (CSL) vs. Lincoln Electric (LECO): A comparison of their current ratio against the Capital Goods industry group benchmark.

Debt / Equity (MRQ)

Lincoln Electric (LECO) at 0.78 carries an industry-typical debt-to-equity mix, while Carlisle (CSL) at 2.01 uses more debt funding than most peers.

CSL

Capital Goods industry group

2.01

Max: 2.33
CSL: 2.01
Q3: 1.12
Median: 0.60
Q1: 0.29
Min: 0.00

LECO

Capital Goods industry group

0.78

Max: 2.33
Q3: 1.12
LECO: 0.78
Median: 0.60
Q1: 0.29
Min: 0.00

Carlisle (CSL) vs. Lincoln Electric (LECO): A comparison of their debt-to-equity ratio against the Capital Goods industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Carlisle (CSL) and Lincoln Electric (LECO)
Metric	CSL	LECO
Current Ratio (MRQ)	2.41	1.91
Debt / Equity (MRQ)	2.01	0.78
Net Debt / EBITDA	1.93	1.00

Dividends

Dividend Yield (TTM)

Both Carlisle (CSL) at 1.20% and Lincoln Electric (LECO) at 1.16% offer top-quartile dividend income relative to share price within their industries.

CSL

Capital Goods industry group

1.20%

Max: 2.66%
CSL: 1.20%
Q3: 1.14%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

LECO

Capital Goods industry group

1.16%

Max: 2.66%
LECO: 1.16%
Q3: 1.14%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

Carlisle (CSL) vs. Lincoln Electric (LECO): A comparison of their dividend yield against the Capital Goods industry group benchmark.

Dividend Payout Ratio (TTM)

Carlisle (CSL) at 25.50% pays out a band-typical share of earnings, while Lincoln Electric (LECO) at 30.30% distributes more than its industry norm — less retained, thinner cover.

CSL

Capital Goods industry group

25.50%

Max: 67.39%
Q3: 28.02%
CSL: 25.50%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

LECO

Capital Goods industry group

30.30%

Max: 67.39%
LECO: 30.30%
Q3: 28.02%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

Carlisle (CSL) vs. Lincoln Electric (LECO): A comparison of their payout ratio against the Capital Goods industry group benchmark.

Dividend Metrics

Dividend metrics for Carlisle (CSL) and Lincoln Electric (LECO)
Metric	CSL	LECO
Dividend Yield (TTM)	1.20%	1.16%
Dividend Payout Ratio (TTM)	25.50%	30.30%

Valuation

P/E Ratio (TTM)

Both Carlisle (CSL) at 21.06 and Lincoln Electric (LECO) at 26.40 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

CSL

Capital Goods industry group

21.06

Max: 59.38
Q3: 35.92
Median: 25.41
CSL: 21.06
Q1: 19.47
Min: 3.03

LECO

Capital Goods industry group

26.40

Max: 59.38
Q3: 35.92
LECO: 26.40
Median: 25.41
Q1: 19.47
Min: 3.03

Carlisle (CSL) vs. Lincoln Electric (LECO): A comparison of their P/E ratio against the Capital Goods industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Carlisle (CSL) at 2.79 and Lincoln Electric (LECO) at 3.21 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

CSL

Capital Goods industry group

2.79

Max: 7.54
Q3: 3.76
CSL: 2.79
Median: 2.15
Q1: 1.03
Min: 0.03

LECO

Capital Goods industry group

3.21

Max: 7.54
Q3: 3.76
LECO: 3.21
Median: 2.15
Q1: 1.03
Min: 0.03

Carlisle (CSL) vs. Lincoln Electric (LECO): A comparison of their P/S ratio against the Capital Goods industry group benchmark.

P/B Ratio (MRQ)

Both look rich against book: Lincoln Electric (LECO) at 9.59 sits in the upper P/B ratio quartile, and Carlisle (CSL) at 10.11 prices even higher, above its industry range.

CSL

Capital Goods industry group

10.11

CSL: 10.11
Max: 9.66
Q3: 5.00
Median: 3.12
Q1: 1.81
Min: -1.08

LECO

Capital Goods industry group

9.59

Max: 9.66
LECO: 9.59
Q3: 5.00
Median: 3.12
Q1: 1.81
Min: -1.08

Carlisle (CSL) vs. Lincoln Electric (LECO): A comparison of their P/B ratio against the Capital Goods industry group benchmark.

Valuation Metrics

Valuation metrics for Carlisle (CSL) and Lincoln Electric (LECO)
Metric	CSL	LECO
P/E Ratio (TTM)	21.06	26.40
P/S Ratio (TTM)	2.79	3.21
P/B Ratio (MRQ)	10.11	9.59
Free Cash Flow Yield (TTM)	4.01%	2.68%