ESLT vs. LECO: Elbit Systems vs. Lincoln Electric Stock Comparison

November 11, 2026

How do Elbit Systems (ESLT) 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

Elbit Systems (ESLT) and Lincoln Electric (LECO) both fall under the Capital Goods industry group, but ESLT is classified in Aerospace & Defense while LECO is classified in Machinery.

Company profile comparison for Elbit Systems (ESLT) and Lincoln Electric (LECO)
Profile Item	ESLT	LECO
Name	Elbit Systems Ltd.	Lincoln Electric Holdings, Inc.
Country/Region	Israel	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Aerospace & Defense	Machinery
GICS Sub-Industry	Aerospace & Defense	Industrial Machinery & Supplies & Components
Market Capitalization	32.00 billion USD	14.91 billion USD
Currency	USD	USD
Exchange	Nasdaq	Nasdaq
Listing Date	November 27, 1996	April 7, 1994
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

ESLT

LECO

GSPC

Elbit Systems (ESLT) 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 Elbit Systems (ESLT) and Lincoln Electric (LECO). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Elbit Systems (ESLT) and Lincoln Electric (LECO)
Metric	ESLT	LECO
Total Return (1Y)	55.34%	27.30%
Total Return (3Y, Annualized)	57.29%	17.31%
Total Return (5Y, Annualized)	37.24%	16.33%

Risk Profile

Drawdown History

ESLT

LECO

GSPC

Elbit Systems (ESLT) 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 Elbit Systems (ESLT) and Lincoln Electric (LECO). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Elbit Systems (ESLT) and Lincoln Electric (LECO)
Metric	ESLT	LECO
Volatility (1Y, Annualized)	47.34%	31.13%
Beta (5Y)	0.10	1.17
Max Drawdown (5Y)	-35.54%	-34.29%
Avg. Volume (3M)	88.09K	409.99K

Risk-Adjusted Performance

Risk-Return Positioning

ESLT 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 Elbit Systems (ESLT) and Lincoln Electric (LECO)
Metric	ESLT	LECO
Sharpe Ratio (1Y)	1.08	0.74
Sortino Ratio (1Y)	1.76	1.11

Profitability

ROE (TTM)

Lincoln Electric (LECO) at 38.75% sits in the top ROE quartile, while Elbit Systems (ESLT) at 15.24% is closer to the peer norm — stronger capital efficiency for LECO.

ESLT

Capital Goods industry group

15.24%

Max: 40.55%
Q3: 19.29%
ESLT: 15.24%
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%

Elbit Systems (ESLT) 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 Elbit Systems (ESLT) at 7.44%, which keeps about the industry-typical share.

ESLT

Capital Goods industry group

7.44%

Max: 27.47%
Q3: 12.10%
ESLT: 7.44%
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%

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

Operating Margin (TTM)

Both Elbit Systems (ESLT) at 9.57% and Lincoln Electric (LECO) at 18.29% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

ESLT

Capital Goods industry group

9.57%

Max: 36.60%
Q3: 18.33%
Median: 11.12%
ESLT: 9.57%
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%

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

Profitability Metrics

Profitability metrics for Elbit Systems (ESLT) and Lincoln Electric (LECO)
Metric	ESLT	LECO
ROE (TTM)	15.24%	38.75%
ROA (TTM)	3.87%	13.32%
Net Margin (TTM)	7.44%	12.40%
Operating Margin (TTM)	9.57%	18.29%
Gross Margin (TTM)	25.03%	35.54%

Growth

Revenue Growth

Both Elbit Systems (ESLT) at 16.27% and Lincoln Electric (LECO) at 5.60% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Elbit Systems (ESLT) vs. Lincoln Electric (LECO): A comparison of their Revenue Growth across different time periods.

EPS Growth

Elbit Systems (ESLT) at 58.64% sits in the top EPS growth quartile, while Lincoln Electric (LECO) at 14.36% is closer to the peer norm — faster per-share earnings growth for ESLT.

Elbit Systems (ESLT) vs. Lincoln Electric (LECO): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Elbit Systems (ESLT) and Lincoln Electric (LECO)
Metric	ESLT	LECO
Revenue Growth (YoY)	16.27%	5.60%
Revenue Growth (3Y CAGR)	12.93%	4.02%
EPS Growth (YoY)	58.64%	14.36%
EPS Growth (3Y CAGR)	22.61%	5.05%

Financial Strength

Current Ratio (MRQ)

Lincoln Electric (LECO) at 1.91 keeps current ratio within its industry’s typical mid-range, while Elbit Systems (ESLT) at 1.40 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for ESLT.

ESLT

Capital Goods industry group

1.40

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
ESLT: 1.40
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

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

Debt / Equity (MRQ)

Elbit Systems (ESLT) at 0.19 keeps leverage in the lower industry quartile, while Lincoln Electric (LECO) at 0.78 runs a more typical debt-to-equity mix.

ESLT

Capital Goods industry group

0.19

Max: 2.33
Q3: 1.12
Median: 0.60
Q1: 0.29
ESLT: 0.19
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

Elbit Systems (ESLT) 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 Elbit Systems (ESLT) and Lincoln Electric (LECO)
Metric	ESLT	LECO
Current Ratio (MRQ)	1.40	1.91
Debt / Equity (MRQ)	0.19	0.78
Net Debt / EBITDA	-0.11	1.00

Dividends

Dividend Yield (TTM)

Lincoln Electric (LECO) at 1.16% delivers top-quartile income for its industry, while Elbit Systems (ESLT) at 0.58% pays a more typical yield — both are credible income propositions, LECO the richer one.

ESLT

Capital Goods industry group

0.58%

Max: 2.66%
Q3: 1.14%
ESLT: 0.58%
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%

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

Dividend Payout Ratio (TTM)

Elbit Systems (ESLT) at 23.33% 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.

ESLT

Capital Goods industry group

23.33%

Max: 67.39%
Q3: 28.02%
ESLT: 23.33%
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%

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

Dividend Metrics

Dividend metrics for Elbit Systems (ESLT) and Lincoln Electric (LECO)
Metric	ESLT	LECO
Dividend Yield (TTM)	0.58%	1.16%
Dividend Payout Ratio (TTM)	23.33%	30.30%

Valuation

P/E Ratio (TTM)

Lincoln Electric (LECO) at 26.40 is near its industry’s usual P/E ratio, while Elbit Systems (ESLT) at 51.36 sits in the richer quartile — ESLT needs stronger growth or earnings quality to justify the premium.

ESLT

Capital Goods industry group

51.36

Max: 59.38
ESLT: 51.36
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

Elbit Systems (ESLT) 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 Elbit Systems (ESLT) at 3.74 and Lincoln Electric (LECO) at 3.21 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

ESLT

Capital Goods industry group

3.74

Max: 7.54
Q3: 3.76
ESLT: 3.74
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

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

P/B Ratio (MRQ)

Both Elbit Systems (ESLT) at 7.24 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.

ESLT

Capital Goods industry group

7.24

Max: 9.66
ESLT: 7.24
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

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

Valuation Metrics

Valuation metrics for Elbit Systems (ESLT) and Lincoln Electric (LECO)
Metric	ESLT	LECO
P/E Ratio (TTM)	51.36	26.40
P/S Ratio (TTM)	3.74	3.21
P/B Ratio (MRQ)	7.24	9.59
Free Cash Flow Yield (TTM)	-0.12%	2.68%