HEI vs. LECO: HEICO vs. Lincoln Electric Stock Comparison

November 11, 2026

How do HEICO (HEI) 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

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

Company profile comparison for HEICO (HEI) and Lincoln Electric (LECO)
Profile Item	HEI	LECO
Name	HEICO Corporation	Lincoln Electric Holdings, Inc.
Country/Region	United States	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	46.49 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

HEI

LECO

GSPC

HEICO (HEI) 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 HEICO (HEI) and Lincoln Electric (LECO). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for HEICO (HEI) and Lincoln Electric (LECO)
Metric	HEI	LECO
Total Return (1Y)	6.50%	27.30%
Total Return (3Y, Annualized)	28.48%	17.31%
Total Return (5Y, Annualized)	18.19%	16.33%

Risk Profile

Drawdown History

HEI

LECO

GSPC

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

Risk Metrics

Risk profile metrics for HEICO (HEI) and Lincoln Electric (LECO)
Metric	HEI	LECO
Volatility (1Y, Annualized)	33.37%	31.13%
Beta (5Y)	1.06	1.17
Max Drawdown (5Y)	-27.11%	-34.29%
Avg. Volume (3M)	480.74K	409.99K

Risk-Adjusted Performance

Risk-Return Positioning

HEI 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 HEICO (HEI) and Lincoln Electric (LECO)
Metric	HEI	LECO
Sharpe Ratio (1Y)	0.07	0.74
Sortino Ratio (1Y)	0.10	1.11

Profitability

ROE (TTM)

Lincoln Electric (LECO) at 38.75% sits in the top ROE quartile, while HEICO (HEI) at 17.73% is closer to the peer norm — stronger capital efficiency for LECO.

HEI

Capital Goods industry group

17.73%

Max: 40.55%
Q3: 19.29%
HEI: 17.73%
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%

HEICO (HEI) 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 HEICO (HEI) at 16.38% 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.

HEI

Capital Goods industry group

16.38%

Max: 27.47%
HEI: 16.38%
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%

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

Operating Margin (TTM)

HEICO (HEI) at 25.14% operates in the top operating margin quartile, ahead of Lincoln Electric (LECO) at 18.29%, which runs around its industry’s norm.

HEI

Capital Goods industry group

25.14%

Max: 36.60%
HEI: 25.14%
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%

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

Profitability Metrics

Profitability metrics for HEICO (HEI) and Lincoln Electric (LECO)
Metric	HEI	LECO
ROE (TTM)	17.73%	38.75%
ROA (TTM)	8.50%	13.32%
Net Margin (TTM)	16.38%	12.40%
Operating Margin (TTM)	25.14%	18.29%
Gross Margin (TTM)	40.40%	35.54%

Growth

Revenue Growth

Both HEICO (HEI) at 16.26% 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.

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

EPS Growth

HEICO (HEI) at 33.52% 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 HEI.

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

Growth Metrics

Growth metrics for HEICO (HEI) and Lincoln Electric (LECO)
Metric	HEI	LECO
Revenue Growth (YoY)	16.26%	5.60%
Revenue Growth (3Y CAGR)	26.64%	4.02%
EPS Growth (YoY)	33.52%	14.36%
EPS Growth (3Y CAGR)	24.32%	5.05%

Financial Strength

Current Ratio (MRQ)

Both HEICO (HEI) at 2.72 and Lincoln Electric (LECO) at 1.91 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

HEI

Capital Goods industry group

2.72

Max: 5.22
Q3: 2.95
HEI: 2.72
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

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

Debt / Equity (MRQ)

Both HEICO (HEI) at 0.45 and Lincoln Electric (LECO) at 0.78 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

HEI

Capital Goods industry group

0.45

Max: 2.33
Q3: 1.12
Median: 0.60
HEI: 0.45
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

HEICO (HEI) 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 HEICO (HEI) and Lincoln Electric (LECO)
Metric	HEI	LECO
Current Ratio (MRQ)	2.72	1.91
Debt / Equity (MRQ)	0.45	0.78
Net Debt / EBITDA	1.56	1.00

Dividends

Dividend Yield (TTM)

Lincoln Electric (LECO) at 1.16% delivers top-quartile income for its industry, while HEICO (HEI) at 0.08% pays a more typical yield — both are credible income propositions, LECO the richer one.

HEI

Capital Goods industry group

0.08%

Max: 2.66%
Q3: 1.14%
Median: 0.24%
HEI: 0.08%
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%

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

Dividend Payout Ratio (TTM)

HEICO (HEI) at 4.17% 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.

HEI

Capital Goods industry group

4.17%

Max: 67.39%
Q3: 28.02%
Median: 6.86%
HEI: 4.17%
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%

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

Dividend Metrics

Dividend metrics for HEICO (HEI) and Lincoln Electric (LECO)
Metric	HEI	LECO
Dividend Yield (TTM)	0.08%	1.16%
Dividend Payout Ratio (TTM)	4.17%	30.30%

Valuation

P/E Ratio (TTM)

Lincoln Electric (LECO) at 26.40 is near its industry’s usual P/E ratio, while HEICO (HEI) at 55.44 sits in the richer quartile — HEI needs stronger growth or earnings quality to justify the premium.

HEI

Capital Goods industry group

55.44

Max: 59.38
HEI: 55.44
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

HEICO (HEI) 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 prices around its industry’s typical P/S ratio, while HEICO (HEI) at 8.98 clears its benchmark range — HEI looks notably rich on sales.

HEI

Capital Goods industry group

8.98

HEI: 8.98
Max: 7.54
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

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

P/B Ratio (MRQ)

Both HEICO (HEI) at 9.40 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.

HEI

Capital Goods industry group

9.40

Max: 9.66
HEI: 9.40
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

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

Valuation Metrics

Valuation metrics for HEICO (HEI) and Lincoln Electric (LECO)
Metric	HEI	LECO
P/E Ratio (TTM)	55.44	26.40
P/S Ratio (TTM)	8.98	3.21
P/B Ratio (MRQ)	9.40	9.59
Free Cash Flow Yield (TTM)	1.82%	2.68%