FLS vs. LECO: Flowserve vs. Lincoln Electric Stock Comparison

November 11, 2026

How do Flowserve (FLS) 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

Flowserve (FLS) and Lincoln Electric (LECO) are both classified in the Industrial Machinery & Supplies & Components sub-industry within the broader Machinery industry, placing them in the closest GICS peer bucket.

Company profile comparison for Flowserve (FLS) and Lincoln Electric (LECO)
Profile Item	FLS	LECO
Name	Flowserve Corporation	Lincoln Electric Holdings, Inc.
Country/Region	United States	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Machinery	Machinery
GICS Sub-Industry	Industrial Machinery & Supplies & Components	Industrial Machinery & Supplies & Components
Market Capitalization	10.19 billion USD	14.91 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	March 17, 1980	April 7, 1994
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

FLS

LECO

GSPC

Flowserve (FLS) 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 Flowserve (FLS) and Lincoln Electric (LECO). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Flowserve (FLS) and Lincoln Electric (LECO)
Metric	FLS	LECO
Total Return (1Y)	24.11%	27.30%
Total Return (3Y, Annualized)	33.68%	17.31%
Total Return (5Y, Annualized)	22.48%	16.33%

Risk Profile

Drawdown History

FLS

LECO

GSPC

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

Risk Metrics

Risk profile metrics for Flowserve (FLS) and Lincoln Electric (LECO)
Metric	FLS	LECO
Volatility (1Y, Annualized)	42.18%	31.13%
Beta (5Y)	1.24	1.17
Max Drawdown (5Y)	-38.76%	-34.29%
Avg. Volume (3M)	1.61M	409.99K

Risk-Adjusted Performance

Risk-Return Positioning

FLS 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 Flowserve (FLS) and Lincoln Electric (LECO)
Metric	FLS	LECO
Sharpe Ratio (1Y)	0.47	0.74
Sortino Ratio (1Y)	0.70	1.11

Profitability

ROE (TTM)

Lincoln Electric (LECO) at 38.75% sits in the top ROE quartile, while Flowserve (FLS) at 11.61% is closer to the peer norm — stronger capital efficiency for LECO.

FLS

Capital Goods industry group

11.61%

Max: 40.55%
Q3: 19.29%
Median: 12.12%
FLS: 11.61%
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%

Flowserve (FLS) 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 Flowserve (FLS) at 5.42%, which keeps about the industry-typical share.

FLS

Capital Goods industry group

5.42%

Max: 27.47%
Q3: 12.10%
Median: 6.30%
FLS: 5.42%
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%

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

Operating Margin (TTM)

Both Flowserve (FLS) at 13.45% and Lincoln Electric (LECO) at 18.29% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

FLS

Capital Goods industry group

13.45%

Max: 36.60%
Q3: 18.33%
FLS: 13.45%
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%

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

Profitability Metrics

Profitability metrics for Flowserve (FLS) and Lincoln Electric (LECO)
Metric	FLS	LECO
ROE (TTM)	11.61%	38.75%
ROA (TTM)	6.36%	13.32%
Net Margin (TTM)	5.42%	12.40%
Operating Margin (TTM)	13.45%	18.29%
Gross Margin (TTM)	35.30%	35.54%

Growth

Revenue Growth

Both Flowserve (FLS) at 3.76% 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.

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

EPS Growth

Both Flowserve (FLS) at 23.36% and Lincoln Electric (LECO) at 14.36% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

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

Growth Metrics

Growth metrics for Flowserve (FLS) and Lincoln Electric (LECO)
Metric	FLS	LECO
Revenue Growth (YoY)	3.76%	5.60%
Revenue Growth (3Y CAGR)	9.37%	4.02%
EPS Growth (YoY)	23.36%	14.36%
EPS Growth (3Y CAGR)	22.39%	5.05%

Financial Strength

Current Ratio (MRQ)

Both Flowserve (FLS) at 2.10 and Lincoln Electric (LECO) at 1.91 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

FLS

Capital Goods industry group

2.10

Max: 5.22
Q3: 2.95
FLS: 2.10
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

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

Debt / Equity (MRQ)

Both Flowserve (FLS) at 0.95 and Lincoln Electric (LECO) at 0.78 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

FLS

Capital Goods industry group

0.95

Max: 2.33
Q3: 1.12
FLS: 0.95
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

Flowserve (FLS) 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 Flowserve (FLS) and Lincoln Electric (LECO)
Metric	FLS	LECO
Current Ratio (MRQ)	2.10	1.91
Debt / Equity (MRQ)	0.95	0.78
Net Debt / EBITDA	2.08	1.00

Dividends

Dividend Yield (TTM)

Lincoln Electric (LECO) at 1.16% delivers top-quartile income for its industry, while Flowserve (FLS) at 1.11% pays a more typical yield — both are credible income propositions, LECO the richer one.

FLS

Capital Goods industry group

1.11%

Max: 2.66%
Q3: 1.14%
FLS: 1.11%
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%

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

Dividend Payout Ratio (TTM)

Both Flowserve (FLS) at 43.50% and Lincoln Electric (LECO) at 30.30% pay out an above-typical share of earnings for their industries, leaving thinner cover if profits dip.

FLS

Capital Goods industry group

43.50%

Max: 67.39%
FLS: 43.50%
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%

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

Dividend Metrics

Dividend metrics for Flowserve (FLS) and Lincoln Electric (LECO)
Metric	FLS	LECO
Dividend Yield (TTM)	1.11%	1.16%
Dividend Payout Ratio (TTM)	43.50%	30.30%

Valuation

P/E Ratio (TTM)

Lincoln Electric (LECO) at 26.40 is near its industry’s usual P/E ratio, while Flowserve (FLS) at 40.19 sits in the richer quartile — FLS needs stronger growth or earnings quality to justify the premium.

FLS

Capital Goods industry group

40.19

Max: 59.38
FLS: 40.19
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

Flowserve (FLS) 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 Flowserve (FLS) at 2.17 and Lincoln Electric (LECO) at 3.21 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

FLS

Capital Goods industry group

2.17

Max: 7.54
Q3: 3.76
FLS: 2.17
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

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

P/B Ratio (MRQ)

Flowserve (FLS) at 4.40 is valued about in line with its industry on P/B ratio, while Lincoln Electric (LECO) at 9.59 carries an above-peer premium to book — LECO is pricier on assets.

FLS

Capital Goods industry group

4.40

Max: 9.66
Q3: 5.00
FLS: 4.40
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

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

Valuation Metrics

Valuation metrics for Flowserve (FLS) and Lincoln Electric (LECO)
Metric	FLS	LECO
P/E Ratio (TTM)	40.19	26.40
P/S Ratio (TTM)	2.17	3.21
P/B Ratio (MRQ)	4.40	9.59
Free Cash Flow Yield (TTM)	3.62%	2.68%