LECO vs. MLI: Lincoln Electric vs. Mueller Industries Stock Comparison

November 11, 2026

How do Lincoln Electric (LECO) and Mueller Industries (MLI) 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

Lincoln Electric (LECO) and Mueller Industries (MLI) 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 Lincoln Electric (LECO) and Mueller Industries (MLI)
Profile Item	LECO	MLI
Name	Lincoln Electric Holdings, Inc.	Mueller Industries, 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	14.91 billion USD	11.54 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	April 7, 1994	February 25, 1991
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

LECO

MLI

GSPC

Lincoln Electric (LECO) vs. Mueller Industries (MLI), 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 Lincoln Electric (LECO) and Mueller Industries (MLI). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Lincoln Electric (LECO) and Mueller Industries (MLI)
Metric	LECO	MLI
Total Return (1Y)	27.30%	3.68%
Total Return (3Y, Annualized)	17.31%	44.56%
Total Return (5Y, Annualized)	16.33%	32.39%

Risk Profile

Drawdown History

LECO

MLI

GSPC

Lincoln Electric (LECO) vs. Mueller Industries (MLI), 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 Lincoln Electric (LECO) and Mueller Industries (MLI). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Lincoln Electric (LECO) and Mueller Industries (MLI)
Metric	LECO	MLI
Volatility (1Y, Annualized)	31.13%	34.44%
Beta (5Y)	1.17	1.01
Max Drawdown (5Y)	-34.29%	-27.79%
Avg. Volume (3M)	409.99K	1.61M

Risk-Adjusted Performance

Risk-Return Positioning

LECO and MLI 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 Lincoln Electric (LECO) and Mueller Industries (MLI)
Metric	LECO	MLI
Sharpe Ratio (1Y)	0.74	-0.02
Sortino Ratio (1Y)	1.11	-0.02

Profitability

ROE (TTM)

Both Lincoln Electric (LECO) at 38.75% and Mueller Industries (MLI) at 26.26% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.

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%

MLI

Capital Goods industry group

26.26%

Max: 40.55%
MLI: 26.26%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

Lincoln Electric (LECO) vs. Mueller Industries (MLI): A comparison of their ROE against the Capital Goods industry group benchmark.

Net Margin (TTM)

For every dollar of sales, both Lincoln Electric (LECO) at 12.40% and Mueller Industries (MLI) at 17.27% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

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%

MLI

Capital Goods industry group

17.27%

Max: 27.47%
MLI: 17.27%
Q3: 12.10%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

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

Operating Margin (TTM)

Mueller Industries (MLI) at 19.53% operates in the top operating margin quartile, ahead of Lincoln Electric (LECO) at 18.29%, which runs around its industry’s norm.

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%

MLI

Capital Goods industry group

19.53%

Max: 36.60%
MLI: 19.53%
Q3: 18.33%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

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

Profitability Metrics

Profitability metrics for Lincoln Electric (LECO) and Mueller Industries (MLI)
Metric	LECO	MLI
ROE (TTM)	38.75%	26.26%
ROA (TTM)	13.32%	16.23%
Net Margin (TTM)	12.40%	17.27%
Operating Margin (TTM)	18.29%	19.53%
Gross Margin (TTM)	35.54%	27.25%

Growth

Revenue Growth

Both Lincoln Electric (LECO) at 5.60% and Mueller Industries (MLI) at 10.87% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Lincoln Electric (LECO) vs. Mueller Industries (MLI): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Lincoln Electric (LECO) at 14.36% and Mueller Industries (MLI) at 29.19% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

Lincoln Electric (LECO) vs. Mueller Industries (MLI): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Lincoln Electric (LECO) and Mueller Industries (MLI)
Metric	LECO	MLI
Revenue Growth (YoY)	5.60%	10.87%
Revenue Growth (3Y CAGR)	4.02%	1.62%
EPS Growth (YoY)	14.36%	29.19%
EPS Growth (3Y CAGR)	5.05%	5.63%

Financial Strength

Current Ratio (MRQ)

Lincoln Electric (LECO) at 1.91 keeps current ratio within its industry’s typical mid-range, while Mueller Industries (MLI) at 4.39 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets relative to peers.

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

MLI

Capital Goods industry group

4.39

Max: 5.22
MLI: 4.39
Q3: 2.95
Median: 2.08
Q1: 1.43
Min: 0.36

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

Debt / Equity (MRQ)

Mueller Industries (MLI) at 0.01 keeps leverage in the lower industry quartile, while Lincoln Electric (LECO) at 0.78 runs a more typical debt-to-equity mix.

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

MLI

Capital Goods industry group

0.01

Max: 2.33
Q3: 1.12
Median: 0.60
Q1: 0.29
MLI: 0.01
Min: 0.00

Lincoln Electric (LECO) vs. Mueller Industries (MLI): A comparison of their debt-to-equity ratio against the Capital Goods industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Lincoln Electric (LECO) and Mueller Industries (MLI)
Metric	LECO	MLI
Current Ratio (MRQ)	1.91	4.39
Debt / Equity (MRQ)	0.78	0.01
Net Debt / EBITDA	1.00	-1.31

Dividends

Dividend Yield (TTM)

Both Lincoln Electric (LECO) at 1.16% and Mueller Industries (MLI) at 1.24% offer top-quartile dividend income relative to share price within their industries.

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%

MLI

Capital Goods industry group

1.24%

Max: 2.66%
MLI: 1.24%
Q3: 1.14%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

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

Dividend Payout Ratio (TTM)

Mueller Industries (MLI) at 16.67% 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.

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%

MLI

Capital Goods industry group

16.67%

Max: 67.39%
Q3: 28.02%
MLI: 16.67%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Lincoln Electric (LECO) and Mueller Industries (MLI)
Metric	LECO	MLI
Dividend Yield (TTM)	1.16%	1.24%
Dividend Payout Ratio (TTM)	30.30%	16.67%

Valuation

P/E Ratio (TTM)

Mueller Industries (MLI) at 13.58 sits in the cheaper P/E ratio quartile, while Lincoln Electric (LECO) at 26.40 is closer to its industry’s usual earnings multiple — a discount for MLI, though growth and earnings durability still matter.

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

MLI

Capital Goods industry group

13.58

Max: 59.38
Q3: 35.92
Median: 25.41
Q1: 19.47
MLI: 13.58
Min: 3.03

Lincoln Electric (LECO) vs. Mueller Industries (MLI): A comparison of their P/E ratio against the Capital Goods industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Lincoln Electric (LECO) at 3.21 and Mueller Industries (MLI) at 2.31 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

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

MLI

Capital Goods industry group

2.31

Max: 7.54
Q3: 3.76
MLI: 2.31
Median: 2.15
Q1: 1.03
Min: 0.03

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

P/B Ratio (MRQ)

Mueller Industries (MLI) at 0.33 looks cheap against book in the lower P/B ratio quartile, while Lincoln Electric (LECO) at 9.59 carries a premium in the upper quartile — a clear price-to-book gap.

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

MLI

Capital Goods industry group

0.33

Max: 9.66
Q3: 5.00
Median: 3.12
Q1: 1.81
MLI: 0.33
Min: -1.08

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

Valuation Metrics

Valuation metrics for Lincoln Electric (LECO) and Mueller Industries (MLI)
Metric	LECO	MLI
P/E Ratio (TTM)	26.40	13.58
P/S Ratio (TTM)	3.21	2.31
P/B Ratio (MRQ)	9.59	0.33
Free Cash Flow Yield (TTM)	2.68%	4.65%