LECO vs. PCAR: Lincoln Electric vs. PACCAR Stock Comparison

November 11, 2026

How do Lincoln Electric (LECO) and PACCAR (PCAR) 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 PACCAR (PCAR) both belong to the Machinery industry, though LECO is classified under Industrial Machinery & Supplies & Components while PCAR falls under Construction Machinery & Heavy Transportation Equipment.

Company profile comparison for Lincoln Electric (LECO) and PACCAR (PCAR)
Profile Item	LECO	PCAR
Name	Lincoln Electric Holdings, Inc.	PACCAR 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	Construction Machinery & Heavy Transportation Equipment
Market Capitalization	14.91 billion USD	53.69 billion USD
Currency	USD	USD
Exchange	Nasdaq	Nasdaq
Listing Date	April 7, 1994	March 17, 1980
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

LECO

PCAR

GSPC

Lincoln Electric (LECO) vs. PACCAR (PCAR), 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 PACCAR (PCAR). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Lincoln Electric (LECO) and PACCAR (PCAR)
Metric	LECO	PCAR
Total Return (1Y)	27.30%	9.49%
Total Return (3Y, Annualized)	17.31%	11.04%
Total Return (5Y, Annualized)	16.33%	16.64%

Risk Profile

Drawdown History

LECO

PCAR

GSPC

Lincoln Electric (LECO) vs. PACCAR (PCAR), 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 PACCAR (PCAR). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Lincoln Electric (LECO) and PACCAR (PCAR)
Metric	LECO	PCAR
Volatility (1Y, Annualized)	31.13%	27.23%
Beta (5Y)	1.17	0.94
Max Drawdown (5Y)	-34.29%	-27.75%
Avg. Volume (3M)	409.99K	3.33M

Risk-Adjusted Performance

Risk-Return Positioning

LECO and PCAR 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 PACCAR (PCAR)
Metric	LECO	PCAR
Sharpe Ratio (1Y)	0.74	0.19
Sortino Ratio (1Y)	1.11	0.30

Profitability

ROE (TTM)

Lincoln Electric (LECO) at 38.75% sits in the top ROE quartile, while PACCAR (PCAR) at 13.71% is closer to the peer norm — stronger capital efficiency for LECO.

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%

PCAR

Capital Goods industry group

13.71%

Max: 40.55%
Q3: 19.29%
PCAR: 13.71%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

Lincoln Electric (LECO) vs. PACCAR (PCAR): 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 PACCAR (PCAR) at 9.50%, which keeps about the industry-typical share.

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%

PCAR

Capital Goods industry group

9.50%

Max: 27.47%
Q3: 12.10%
PCAR: 9.50%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

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

Operating Margin (TTM)

Both Lincoln Electric (LECO) at 18.29% and PACCAR (PCAR) at 12.59% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

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%

PCAR

Capital Goods industry group

12.59%

Max: 36.60%
Q3: 18.33%
PCAR: 12.59%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

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

Profitability Metrics

Profitability metrics for Lincoln Electric (LECO) and PACCAR (PCAR)
Metric	LECO	PCAR
ROE (TTM)	38.75%	13.71%
ROA (TTM)	13.32%	4.53%
Net Margin (TTM)	12.40%	9.50%
Operating Margin (TTM)	18.29%	12.59%
Gross Margin (TTM)	35.54%	14.21%

Growth

Revenue Growth

Lincoln Electric (LECO) at 5.60% is around its peer norm for revenue growth, while PACCAR (PCAR) at -15.50% drops into the bottom quartile, signaling weaker demand or pricing momentum.

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

EPS Growth

Lincoln Electric (LECO) at 14.36% is around its peer norm for EPS growth, while PACCAR (PCAR) at -42.91% drops into the bottom quartile, signaling weaker earnings momentum.

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

Growth Metrics

Growth metrics for Lincoln Electric (LECO) and PACCAR (PCAR)
Metric	LECO	PCAR
Revenue Growth (YoY)	5.60%	-15.50%
Revenue Growth (3Y CAGR)	4.02%	-0.44%
EPS Growth (YoY)	14.36%	-42.91%
EPS Growth (3Y CAGR)	5.05%	-7.80%

Financial Strength

Current Ratio (MRQ)

Lincoln Electric (LECO) at 1.91 keeps current ratio within its industry’s typical mid-range, while PACCAR (PCAR) at 5.47 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

PCAR

Capital Goods industry group

5.47

PCAR: 5.47
Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
Min: 0.36

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

Debt / Equity (MRQ)

Both Lincoln Electric (LECO) at 0.78 and PACCAR (PCAR) at 0.72 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

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

PCAR

Capital Goods industry group

0.72

Max: 2.33
Q3: 1.12
PCAR: 0.72
Median: 0.60
Q1: 0.29
Min: 0.00

Lincoln Electric (LECO) vs. PACCAR (PCAR): 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 PACCAR (PCAR)
Metric	LECO	PCAR
Current Ratio (MRQ)	1.91	5.47
Debt / Equity (MRQ)	0.78	0.72
Net Debt / EBITDA	1.00	1.62

Dividends

Dividend Yield (TTM)

Both Lincoln Electric (LECO) at 1.16% and PACCAR (PCAR) at 1.30% 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%

PCAR

Capital Goods industry group

1.30%

Max: 2.66%
PCAR: 1.30%
Q3: 1.14%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

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

Dividend Payout Ratio (TTM)

PACCAR (PCAR) at 25.95% 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%

PCAR

Capital Goods industry group

25.95%

Max: 67.39%
Q3: 28.02%
PCAR: 25.95%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Lincoln Electric (LECO) and PACCAR (PCAR)
Metric	LECO	PCAR
Dividend Yield (TTM)	1.16%	1.30%
Dividend Payout Ratio (TTM)	30.30%	25.95%

Valuation

P/E Ratio (TTM)

PACCAR (PCAR) at 19.46 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 PCAR, 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

PCAR

Capital Goods industry group

19.46

Max: 59.38
Q3: 35.92
Median: 25.41
Q1: 19.47
PCAR: 19.46
Min: 3.03

Lincoln Electric (LECO) vs. PACCAR (PCAR): 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 PACCAR (PCAR) at 1.85 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

PCAR

Capital Goods industry group

1.85

Max: 7.54
Q3: 3.76
Median: 2.15
PCAR: 1.85
Q1: 1.03
Min: 0.03

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

P/B Ratio (MRQ)

PACCAR (PCAR) at 2.57 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.

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

PCAR

Capital Goods industry group

2.57

Max: 9.66
Q3: 5.00
Median: 3.12
PCAR: 2.57
Q1: 1.81
Min: -1.08

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

Valuation Metrics

Valuation metrics for Lincoln Electric (LECO) and PACCAR (PCAR)
Metric	LECO	PCAR
P/E Ratio (TTM)	26.40	19.46
P/S Ratio (TTM)	3.21	1.85
P/B Ratio (MRQ)	9.59	2.57
Free Cash Flow Yield (TTM)	2.68%	3.23%