IEX vs. LECO: IDEX vs. Lincoln Electric Stock Comparison

November 11, 2026

How do IDEX (IEX) 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

IDEX (IEX) 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 IDEX (IEX) and Lincoln Electric (LECO)
Profile Item	IEX	LECO
Name	IDEX 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	16.67 billion USD	14.91 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	June 2, 1989	April 7, 1994
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

IEX

LECO

GSPC

IDEX (IEX) 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 IDEX (IEX) and Lincoln Electric (LECO). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for IDEX (IEX) and Lincoln Electric (LECO)
Metric	IEX	LECO
Total Return (1Y)	42.33%	27.30%
Total Return (3Y, Annualized)	8.92%	17.31%
Total Return (5Y, Annualized)	1.31%	16.33%

Risk Profile

Drawdown History

IEX

LECO

GSPC

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

Risk Metrics

Risk profile metrics for IDEX (IEX) and Lincoln Electric (LECO)
Metric	IEX	LECO
Volatility (1Y, Annualized)	22.98%	31.13%
Beta (5Y)	0.95	1.17
Max Drawdown (5Y)	-34.60%	-34.29%
Avg. Volume (3M)	666.74K	409.99K

Risk-Adjusted Performance

Risk-Return Positioning

IEX 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 IDEX (IEX) and Lincoln Electric (LECO)
Metric	IEX	LECO
Sharpe Ratio (1Y)	1.66	0.74
Sortino Ratio (1Y)	2.64	1.11

Profitability

ROE (TTM)

Lincoln Electric (LECO) at 38.75% sits in the top ROE quartile, while IDEX (IEX) at 13.35% is closer to the peer norm — stronger capital efficiency for LECO.

IEX

Capital Goods industry group

13.35%

Max: 40.55%
Q3: 19.29%
IEX: 13.35%
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%

IDEX (IEX) 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 IDEX (IEX) at 14.65% 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.

IEX

Capital Goods industry group

14.65%

Max: 27.47%
IEX: 14.65%
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%

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

Operating Margin (TTM)

IDEX (IEX) at 22.33% operates in the top operating margin quartile, ahead of Lincoln Electric (LECO) at 18.29%, which runs around its industry’s norm.

IEX

Capital Goods industry group

22.33%

Max: 36.60%
IEX: 22.33%
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%

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

Profitability Metrics

Profitability metrics for IDEX (IEX) and Lincoln Electric (LECO)
Metric	IEX	LECO
ROE (TTM)	13.35%	38.75%
ROA (TTM)	7.06%	13.32%
Net Margin (TTM)	14.65%	12.40%
Operating Margin (TTM)	22.33%	18.29%
Gross Margin (TTM)	44.91%	35.54%

Growth

Revenue Growth

Both IDEX (IEX) at 5.77% 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.

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

EPS Growth

Both IDEX (IEX) at -3.46% 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.

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

Growth Metrics

Growth metrics for IDEX (IEX) and Lincoln Electric (LECO)
Metric	IEX	LECO
Revenue Growth (YoY)	5.77%	5.60%
Revenue Growth (3Y CAGR)	2.81%	4.02%
EPS Growth (YoY)	-3.46%	14.36%
EPS Growth (3Y CAGR)	-5.97%	5.05%

Financial Strength

Current Ratio (MRQ)

Both IDEX (IEX) at 2.78 and Lincoln Electric (LECO) at 1.91 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

IEX

Capital Goods industry group

2.78

Max: 5.22
Q3: 2.95
IEX: 2.78
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

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

Debt / Equity (MRQ)

Both IDEX (IEX) at 0.44 and Lincoln Electric (LECO) at 0.78 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

IEX

Capital Goods industry group

0.44

Max: 2.33
Q3: 1.12
Median: 0.60
IEX: 0.44
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

IDEX (IEX) 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 IDEX (IEX) and Lincoln Electric (LECO)
Metric	IEX	LECO
Current Ratio (MRQ)	2.78	1.91
Debt / Equity (MRQ)	0.44	0.78
Net Debt / EBITDA	1.18	1.00

Dividends

Dividend Yield (TTM)

Both IDEX (IEX) at 1.30% and Lincoln Electric (LECO) at 1.16% offer top-quartile dividend income relative to share price within their industries.

IEX

Capital Goods industry group

1.30%

Max: 2.66%
IEX: 1.30%
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%

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

Dividend Payout Ratio (TTM)

Both IDEX (IEX) at 50.14% and Lincoln Electric (LECO) at 30.30% pay out an above-typical share of earnings for their industries, leaving thinner cover if profits dip.

IEX

Capital Goods industry group

50.14%

Max: 67.39%
IEX: 50.14%
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%

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

Dividend Metrics

Dividend metrics for IDEX (IEX) and Lincoln Electric (LECO)
Metric	IEX	LECO
Dividend Yield (TTM)	1.30%	1.16%
Dividend Payout Ratio (TTM)	50.14%	30.30%

Valuation

P/E Ratio (TTM)

Both IDEX (IEX) at 31.53 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.

IEX

Capital Goods industry group

31.53

Max: 59.38
Q3: 35.92
IEX: 31.53
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

IDEX (IEX) 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 IDEX (IEX) at 4.56 sits in the pricier quartile — IEX costs more per dollar of sales.

IEX

Capital Goods industry group

4.56

Max: 7.54
IEX: 4.56
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

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

P/B Ratio (MRQ)

IDEX (IEX) at 4.17 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.

IEX

Capital Goods industry group

4.17

Max: 9.66
Q3: 5.00
IEX: 4.17
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

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

Valuation Metrics

Valuation metrics for IDEX (IEX) and Lincoln Electric (LECO)
Metric	IEX	LECO
P/E Ratio (TTM)	31.53	26.40
P/S Ratio (TTM)	4.56	3.21
P/B Ratio (MRQ)	4.17	9.59
Free Cash Flow Yield (TTM)	3.50%	2.68%