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DE vs. LECO: Deere vs. Lincoln Electric Stock Comparison

How do Deere (DE) 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

Deere (DE) and Lincoln Electric (LECO) both belong to the Machinery industry, though DE is classified under Agricultural & Farm Machinery while LECO falls under Industrial Machinery & Supplies & Components.

Company profile comparison for Deere (DE) and Lincoln Electric (LECO)
Profile ItemDELECO
NameDeere & CompanyLincoln Electric Holdings, Inc.
Country/RegionUnited StatesUnited States
GICS SectorIndustrialsIndustrials
GICS Industry GroupCapital GoodsCapital Goods
GICS IndustryMachineryMachinery
GICS Sub-IndustryAgricultural & Farm MachineryIndustrial Machinery & Supplies & Components
Market Capitalization181.09 billion USD14.91 billion USD
CurrencyUSDUSD
ExchangeNYSENasdaq
Listing DateJune 1, 1972April 7, 1994
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

DE
LECO
GSPC
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Deere (DE) 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

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

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Deere (DE) and Lincoln Electric (LECO)
MetricDELECO
Total Return (1Y)49.27%27.30%
Total Return (3Y, Annualized)24.81%17.31%
Total Return (5Y, Annualized)15.67%16.33%

Risk Profile

Drawdown History

DE
LECO
GSPC
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Deere (DE) 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

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

Risk Metrics

Risk profile metrics for Deere (DE) and Lincoln Electric (LECO)
MetricDELECO
Volatility (1Y, Annualized)33.18%31.13%
Beta (5Y)0.881.17
Max Drawdown (5Y)-33.81%-34.29%
Avg. Volume (3M)1.23M409.99K

Risk-Adjusted Performance

Risk-Return Positioning

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DE 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 Deere (DE) and Lincoln Electric (LECO)
MetricDELECO
Sharpe Ratio (1Y)1.360.74
Sortino Ratio (1Y)2.261.11

Profitability

ROE (TTM)

Lincoln Electric (LECO) at 38.75% sits in the top ROE quartile, while Deere (DE) at 18.24% is closer to the peer norm — stronger capital efficiency for LECO.

DE

Capital Goods industry group

18.24%

Max
40.55%
Q3
19.29%
DE
18.24%
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%
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Deere (DE) vs. Lincoln Electric (LECO): A comparison of their ROE against the Capital Goods industry group benchmark.

Net Margin (TTM)

Lincoln Electric (LECO) at 12.40% retains a top-quartile share of revenue as profit, ahead of Deere (DE) at 10.17%, which keeps about the industry-typical share.

DE

Capital Goods industry group

10.17%

Max
27.47%
Q3
12.10%
DE
10.17%
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%
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Deere (DE) vs. Lincoln Electric (LECO): A comparison of their net margin against the Capital Goods industry group benchmark.

Operating Margin (TTM)

Both Deere (DE) at 13.37% and Lincoln Electric (LECO) at 18.29% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

DE

Capital Goods industry group

13.37%

Max
36.60%
Q3
18.33%
DE
13.37%
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%
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Deere (DE) vs. Lincoln Electric (LECO): A comparison of their operating margin against the Capital Goods industry group benchmark.

Profitability Metrics

Profitability metrics for Deere (DE) and Lincoln Electric (LECO)
MetricDELECO
ROE (TTM)18.24%38.75%
ROA (TTM)3.76%13.32%
Net Margin (TTM)10.17%12.40%
Operating Margin (TTM)13.37%18.29%
Gross Margin (TTM)25.18%35.54%

Growth

Revenue Growth

Lincoln Electric (LECO) at 5.60% is around its peer norm for revenue growth, while Deere (DE) at -11.59% drops into the bottom quartile, signaling weaker demand or pricing momentum.

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Deere (DE) 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 Deere (DE) at -27.79% drops into the bottom quartile, signaling weaker earnings momentum.

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

Growth Metrics

Growth metrics for Deere (DE) and Lincoln Electric (LECO)
MetricDELECO
Revenue Growth (YoY)-11.59%5.60%
Revenue Growth (3Y CAGR)-4.50%4.02%
EPS Growth (YoY)-27.79%14.36%
EPS Growth (3Y CAGR)-7.37%5.05%

Financial Strength

Current Ratio (MRQ)

Both Deere (DE) at 2.13 and Lincoln Electric (LECO) at 1.91 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

DE

Capital Goods industry group

2.13

Max
5.22
Q3
2.95
DE
2.13
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
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Deere (DE) 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 Deere (DE) at 2.30 uses more debt funding than most peers.

DE

Capital Goods industry group

2.30

Max
2.33
DE
2.30
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
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Deere (DE) 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 Deere (DE) and Lincoln Electric (LECO)
MetricDELECO
Current Ratio (MRQ)2.131.91
Debt / Equity (MRQ)2.300.78
Net Debt / EBITDA6.701.00

Dividends

Dividend Yield (TTM)

Lincoln Electric (LECO) at 1.16% delivers top-quartile income for its industry, while Deere (DE) at 0.98% pays a more typical yield — both are credible income propositions, LECO the richer one.

DE

Capital Goods industry group

0.98%

Max
2.66%
Q3
1.14%
DE
0.98%
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%
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Deere (DE) vs. Lincoln Electric (LECO): A comparison of their dividend yield against the Capital Goods industry group benchmark.

Dividend Payout Ratio (TTM)

Both Deere (DE) at 36.02% and Lincoln Electric (LECO) at 30.30% pay out an above-typical share of earnings for their industries, leaving thinner cover if profits dip.

DE

Capital Goods industry group

36.02%

Max
67.39%
DE
36.02%
Q3
28.02%
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%
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Deere (DE) vs. Lincoln Electric (LECO): A comparison of their payout ratio against the Capital Goods industry group benchmark.

Dividend Metrics

Dividend metrics for Deere (DE) and Lincoln Electric (LECO)
MetricDELECO
Dividend Yield (TTM)0.98%1.16%
Dividend Payout Ratio (TTM)36.02%30.30%

Valuation

P/E Ratio (TTM)

Lincoln Electric (LECO) at 26.40 is near its industry’s usual P/E ratio, while Deere (DE) at 37.33 sits in the richer quartile — DE needs stronger growth or earnings quality to justify the premium.

DE

Capital Goods industry group

37.33

Max
59.38
DE
37.33
Q3
35.92
Median
25.41
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
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Deere (DE) vs. Lincoln Electric (LECO): A comparison of their P/E ratio against the Capital Goods industry group benchmark.

P/S Ratio (TTM)

Lincoln Electric (LECO) at 3.21 is priced about in line with its industry on P/S ratio, while Deere (DE) at 3.78 sits in the pricier quartile — DE costs more per dollar of sales.

DE

Capital Goods industry group

3.78

Max
7.54
DE
3.78
Q3
3.76
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
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Deere (DE) vs. Lincoln Electric (LECO): A comparison of their P/S ratio against the Capital Goods industry group benchmark.

P/B Ratio (MRQ)

Both Deere (DE) at 6.47 and Lincoln Electric (LECO) at 9.59 carry a premium to book value versus peers, sitting in the upper P/B ratio quartile of their industries.

DE

Capital Goods industry group

6.47

Max
9.66
DE
6.47
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
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Deere (DE) vs. Lincoln Electric (LECO): A comparison of their P/B ratio against the Capital Goods industry group benchmark.

Valuation Metrics

Valuation metrics for Deere (DE) and Lincoln Electric (LECO)
MetricDELECO
P/E Ratio (TTM)37.3326.40
P/S Ratio (TTM)3.783.21
P/B Ratio (MRQ)6.479.59
Free Cash Flow Yield (TTM)2.49%2.68%