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LINCOLN ELECTRIC HOLDINGS INC (LECO)

Historical prices through 2026-10-08Latest fiscal period 2025-12-31

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Price date	EPS fiscal end	Basic P/E (×)	Diluted P/E (×)	P/S (×)	P/FCF (×)

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Formula: min(60, 15 × ((1 + CAGR / 100) / 1.10)^{years × 0.6})

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LINCOLN ELECTRIC HOLDINGS INC (LECO) · Nasdaq · USD · Sector unavailable · SEC ID 0000059527

Annual coverage: 2008-12-31–2025-12-31 (18 periods). Data snapshot built 2026-10-09.

Tables include every stored fiscal period, even outside the selected chart range. Missing or unsupported values are marked “Unavailable,” not zero.

Earnings and per-share history

Annual EPS, cash flow and dividends

Per-share values are in USD; dividend yield is a percent.

Dividend-yield method and limitations

Annual EPS, cash flow, dividends and fiscal-year dividend yield for LINCOLN ELECTRIC HOLDINGS INC. Per-share values in USD; yield in percent.
Fiscal year / end	Basic EPS	Diluted EPS	FCF / share	Dividends / share	Fiscal-year dividend yield	Filing sources
2025 2025-12-31	9.39	9.32	9.56	3.04	1.23%	Basic EPS (2026-02-25) Diluted EPS (2026-02-25) Operating cash flow (2026-02-25) · Capital expenditure (2026-02-25) Dividend (2026-02-25)
2024 2024-12-31	8.23	8.15	8.43	2.88	1.52%	Basic EPS (2026-02-25) Diluted EPS (2026-02-25) Operating cash flow (2026-02-25) · Capital expenditure (2026-02-25) Dividend (2026-02-25)
2023 2023-12-31	9.50	9.37	9.90	2.63	1.21%	Basic EPS (2026-02-25) Diluted EPS (2026-02-25) Operating cash flow (2026-02-25) · Capital expenditure (2026-02-25) Dividend (2026-02-25)
2022 2022-12-31	8.14	8.04	5.30	2.32	1.61%	Basic EPS (2025-02-26) Diluted EPS (2025-02-26) Operating cash flow (2025-02-26) · Capital expenditure (2025-02-26) Dividend (2025-02-26)
2021 2021-12-31	4.66	4.60	5.04	2.09	1.52%	Basic EPS (2024-02-27) Diluted EPS (2024-02-27) Operating cash flow (2024-02-27) · Capital expenditure (2024-02-27) Dividend (2024-02-27)
2020 2020-12-31	3.46	3.42	4.85	1.98	1.75%	Basic EPS (2023-02-21) Diluted EPS (2023-02-21) Operating cash flow (2023-02-21) · Capital expenditure (2023-02-21) Dividend (2023-02-21)
2019 2019-12-31	4.73	4.68	5.32	1.90	2.06%	Basic EPS (2022-02-18) Diluted EPS (2022-02-18) Operating cash flow (2022-02-18) · Capital expenditure (2022-02-18) Dividend (2022-02-18)
2018 2018-12-31	4.42	4.37	3.93	1.64	2.28%	Basic EPS (2021-02-19) Diluted EPS (2021-02-19) Operating cash flow (2021-02-19) · Capital expenditure (2021-02-19) Dividend (2021-02-19)
2017 2017-12-31	3.76	3.71	4.10	1.44	1.73%	Basic EPS (2020-02-27) Diluted EPS (2020-02-27) Operating cash flow (2020-02-27) · Capital expenditure (2020-02-27) Dividend (2020-02-27)
2016 2016-12-31	2.94	2.91	3.85	1.31	1.91%	Basic EPS (2019-02-27) Diluted EPS (2019-02-27) Operating cash flow (2019-02-27) · Capital expenditure (2019-02-27) Dividend (2019-02-27)
2015 2015-12-31	1.72	1.70	3.50	1.19	2.61%	Basic EPS (2018-02-27) Diluted EPS (2018-02-27) Operating cash flow (2018-02-27) · Capital expenditure (2018-02-27) Dividend (2018-02-27)
2014 2014-12-31	3.22	3.18	4.10	0.98	1.63%	Basic EPS (2017-02-24) Diluted EPS (2017-02-24) Operating cash flow (2017-02-24) · Capital expenditure (2017-02-24) Dividend (2017-02-24)
2013 2013-12-31	3.58	3.54	3.17	0.83	1.37%	Basic EPS (2016-02-25) Diluted EPS (2016-02-25) Operating cash flow (2016-02-25) · Capital expenditure (2016-02-25) Dividend (2016-02-25)
2012 2012-12-31	3.10	3.06	3.26	0.71	1.77%	Basic EPS (2015-02-20) Diluted EPS (2015-02-20) Operating cash flow (2015-02-20) · Capital expenditure (2015-02-20) Dividend (2015-02-20)
2011 2011-12-31	2.60	2.56	1.51	0.64	1.96%	Basic EPS (2014-02-21) Diluted EPS (2014-02-21) Operating cash flow (2014-02-21) · Capital expenditure (2014-02-21) Dividend (2014-02-21)
2010 2010-12-31	1.54	1.53	1.13	0.58	2.17%	Basic EPS (2013-02-22) Diluted EPS (2013-02-22) Operating cash flow (2011-02-28) · Capital expenditure (2013-02-22) Dividend (2013-02-22)
2009 2009-12-31	0.57	0.57	2.49	0.55	2.51%	Basic EPS (2012-02-24) Diluted EPS (2012-02-24) Operating cash flow (2011-02-28) · Capital expenditure (2012-02-24) Dividend (2012-02-24)
2008 2008-12-31	4.98	4.93	4.30	1.02	5.33%	Basic EPS (2011-02-28) Diluted EPS (2011-02-28) Operating cash flow (2011-02-28) · Capital expenditure (2011-02-28) Dividend (2011-02-28)

Revenue and debt per share

Revenue/share is annual revenue divided by average diluted shares. Debt/share is year-end borrowings divided by common shares; leases are excluded. Per-share values are in USD. Metric definitions.

Fiscal end	Revenue / share	Total debt / share	Calculation inputs & SEC filings
2025-12-31	75.76	23.59	Calculation inputs & SEC filings Revenue: 4,233,003,000.00 USD Average diluted shares: 55,875,000.00 shares Borrowings: 1,294,008,000.00 USD Year-end common shares: 54,845,950.00 shares Revenue (2026-02-25) · Average diluted shares (2026-02-25) · Borrowings input 1 (2026-02-25) · Year-end common shares (2026-02-25)
2024-12-31	70.09	22.43	Calculation inputs & SEC filings Revenue: 4,008,670,000.00 USD Average diluted shares: 57,194,000.00 shares Borrowings: 1,261,075,000.00 USD Year-end common shares: 56,211,219.00 shares Revenue (2026-02-25) · Average diluted shares (2026-02-25) · Borrowings input 1 (2026-02-25) · Year-end common shares (2026-02-25)
2023-12-31	72.00	19.40	Calculation inputs & SEC filings Revenue: 4,191,636,000.00 USD Average diluted shares: 58,221,000.00 shares Borrowings: 1,105,210,000.00 USD Year-end common shares: 56,975,815.00 shares Revenue (2026-02-25) · Average diluted shares (2026-02-25) · Borrowings input 1 (2025-02-26) · Year-end common shares (2025-02-26)
2022-12-31	64.02	20.89	Calculation inputs & SEC filings Revenue: 3,761,211,000.00 USD Average diluted shares: 58,749,000.00 shares Borrowings: 1,203,879,000.00 USD Year-end common shares: 57,623,539.00 shares Revenue (2023-02-21) · Average diluted shares (2025-02-26) · Borrowings input 1 (2024-02-27) · Year-end common shares (2024-02-27)
2021-12-31	53.85	13.10	Calculation inputs & SEC filings Revenue: 3,234,180,000.00 USD Average diluted shares: 60,062,000.00 shares Borrowings: 769,819,000.00 USD Year-end common shares: 58,786,776.00 shares Revenue (2023-02-21) · Average diluted shares (2024-02-27) · Borrowings input 1 (2023-02-21) · Year-end common shares (2023-02-21)
2020-12-31	44.07	12.04	Calculation inputs & SEC filings Revenue: 2,655,400,000.00 USD Average diluted shares: 60,248,000.00 shares Borrowings: 718,190,000.00 USD Year-end common shares: 59,640,895.00 shares Revenue (2023-02-21) · Average diluted shares (2023-02-21) · Borrowings input 1 (2022-02-18) · Year-end common shares (2022-02-18)
2019-12-31	47.93	12.33	Calculation inputs & SEC filings Revenue: 3,003,272,000.00 USD Average diluted shares: 62,658,000.00 shares Borrowings: 747,271,000.00 USD Year-end common shares: 60,592,096.00 shares Revenue (2022-02-18) · Average diluted shares (2022-02-18) · Borrowings input 1 (2021-02-19) · Year-end common shares (2021-02-19)
2018-12-31	46.11	Unavailable	Calculation inputs & SEC filings Revenue: 3,028,674,000.00 USD Average diluted shares: 65,682,000.00 shares Borrowings: Unavailable — required inputs are missing, conflicting or unsupported Year-end common shares: 63,545,878.00 shares Revenue (2021-02-19) · Average diluted shares (2021-02-19) · Year-end common shares (2020-02-27)
2017-12-31	39.38	Unavailable	Calculation inputs & SEC filings Revenue: 2,624,431,000.00 USD Average diluted shares: 66,643,000.00 shares Borrowings: Unavailable — required inputs are missing, conflicting or unsupported Year-end common shares: 65,662,546.00 shares Revenue (2020-02-27) · Average diluted shares (2020-02-27) · Year-end common shares (2019-02-27)
2016-12-31	33.37	Unavailable	Calculation inputs & SEC filings Revenue: 2,274,614,000.00 USD Average diluted shares: 68,156,000.00 shares Borrowings: Unavailable — required inputs are missing, conflicting or unsupported Year-end common shares: 65,674,754.00 shares Revenue (2019-02-27) · Average diluted shares (2019-02-27) · Year-end common shares (2018-02-27)
2015-12-31	33.88	Unavailable	Calculation inputs & SEC filings Revenue: 2,535,791,000.00 USD Average diluted shares: 74,854,000.00 shares Borrowings: Unavailable — required inputs are missing, conflicting or unsupported Year-end common shares: 70,693,389.00 shares Revenue (2018-02-27) · Average diluted shares (2018-02-27) · Year-end common shares (2017-02-24)
2014-12-31	35.12	Unavailable	Calculation inputs & SEC filings Revenue: 2,813,324,000.00 USD Average diluted shares: 80,096,000.00 shares Borrowings: Unavailable — required inputs are missing, conflicting or unsupported Year-end common shares: 76,997,161.00 shares Revenue (2017-02-24) · Average diluted shares (2017-02-24) · Year-end common shares (2016-02-25)
2013-12-31	34.35	Unavailable	Calculation inputs & SEC filings Revenue: 2,852,671,000.00 USD Average diluted shares: 83,042,000.00 shares Borrowings: Unavailable — required inputs are missing, conflicting or unsupported Year-end common shares: 81,010,084.00 shares Revenue (2016-02-25) · Average diluted shares (2016-02-25) · Year-end common shares (2015-02-20)
2012-12-31	33.90	Unavailable	Calculation inputs & SEC filings Revenue: 2,853,367,000.00 USD Average diluted shares: 84,175,000.00 shares Borrowings: Unavailable — required inputs are missing, conflicting or unsupported Year-end common shares: 82,944,817.00 shares Revenue (2015-02-20) · Average diluted shares (2015-02-20) · Year-end common shares (2014-02-21)
2011-12-31	31.81	Unavailable	Calculation inputs & SEC filings Revenue: 2,694,609,000.00 USD Average diluted shares: 84,708,000.00 shares Borrowings: Unavailable — required inputs are missing, conflicting or unsupported Year-end common shares: 83,757,366.00 shares Revenue (2014-02-21) · Average diluted shares (2014-02-21) · Year-end common shares (2013-02-22)
2010-12-31	Unavailable	Unavailable	Calculation inputs & SEC filings Revenue: Unavailable — required inputs are missing, conflicting or unsupported Average diluted shares: 85,223,000.00 shares Borrowings: Unavailable — required inputs are missing, conflicting or unsupported Year-end common shares: 84,241,600.00 shares Average diluted shares (2013-02-22) · Year-end common shares (2012-02-24)
2009-12-31	Unavailable	Unavailable	Calculation inputs & SEC filings Revenue: Unavailable — required inputs are missing, conflicting or unsupported Average diluted shares: 85,268,000.00 shares Borrowings: Unavailable — required inputs are missing, conflicting or unsupported Year-end common shares: 42,637,247.00 shares Average diluted shares (2012-02-24) · Year-end common shares (2011-02-28)
2008-12-31	Unavailable	Unavailable	Calculation inputs & SEC filings Revenue: Unavailable — required inputs are missing, conflicting or unsupported Average diluted shares: 43,054,000.00 shares Borrowings: Unavailable — required inputs are missing, conflicting or unsupported Year-end common shares: Unavailable — required inputs are missing, conflicting or unsupported Average diluted shares (2011-02-28)

Operating performance and returns

Revenue and profit margins

Operating margin is operating income divided by revenue; net margin is net income divided by revenue. Negative margins indicate a loss. Metric definitions.

Fiscal end	Revenue (USD)	Operating margin (%)	Net margin (%)	Calculation inputs & SEC filings
2025-12-31	4,233,003,000.00	16.96	12.30	Calculation inputs & SEC filings Revenue: 4,233,003,000.00 USD Operating income: 718,059,000.00 USD Net income: 520,533,000.00 USD Revenue (2026-02-25) · Operating income (2026-02-25) · Net income (2026-02-25)
2024-12-31	4,008,670,000.00	15.88	11.63	Calculation inputs & SEC filings Revenue: 4,008,670,000.00 USD Operating income: 636,462,000.00 USD Net income: 466,108,000.00 USD Revenue (2026-02-25) · Operating income (2026-02-25) · Net income (2026-02-25)
2023-12-31	4,191,636,000.00	17.13	13.01	Calculation inputs & SEC filings Revenue: 4,191,636,000.00 USD Operating income: 717,849,000.00 USD Net income: 545,248,000.00 USD Revenue (2026-02-25) · Operating income (2026-02-25) · Net income (2026-02-25)
2022-12-31	3,761,211,000.00	16.28	12.56	Calculation inputs & SEC filings Revenue: 3,761,211,000.00 USD Operating income: 612,336,000.00 USD Net income: 472,224,000.00 USD Revenue (2023-02-21) · Operating income (2025-02-26) · Net income (2025-02-26)
2021-12-31	3,234,180,000.00	14.27	8.55	Calculation inputs & SEC filings Revenue: 3,234,180,000.00 USD Operating income: 461,669,000.00 USD Net income: 276,580,000.00 USD Revenue (2023-02-21) · Operating income (2024-02-27) · Net income (2024-02-27)
2020-12-31	2,655,400,000.00	10.62	7.76	Calculation inputs & SEC filings Revenue: 2,655,400,000.00 USD Operating income: 282,071,000.00 USD Net income: 206,144,000.00 USD Revenue (2023-02-21) · Operating income (2023-02-21) · Net income (2023-02-21)
2019-12-31	3,003,272,000.00	12.35	9.76	Calculation inputs & SEC filings Revenue: 3,003,272,000.00 USD Operating income: 370,910,000.00 USD Net income: 293,083,000.00 USD Revenue (2022-02-18) · Operating income (2022-02-18) · Net income (2022-02-18)
2018-12-31	3,028,674,000.00	12.40	9.48	Calculation inputs & SEC filings Revenue: 3,028,674,000.00 USD Operating income: 375,539,000.00 USD Net income: 286,993,000.00 USD Revenue (2021-02-19) · Operating income (2021-02-19) · Net income (2021-02-19)
2017-12-31	2,624,431,000.00	14.36	9.43	Calculation inputs & SEC filings Revenue: 2,624,431,000.00 USD Operating income: 376,942,000.00 USD Net income: 247,475,000.00 USD Revenue (2020-02-27) · Operating income (2020-02-27) · Net income (2020-02-27)
2016-12-31	2,274,614,000.00	12.47	8.72	Calculation inputs & SEC filings Revenue: 2,274,614,000.00 USD Operating income: 283,614,000.00 USD Net income: 198,373,000.00 USD Revenue (2019-02-27) · Operating income (2019-02-27) · Net income (2019-02-27)
2015-12-31	2,535,791,000.00	7.17	5.02	Calculation inputs & SEC filings Revenue: 2,535,791,000.00 USD Operating income: 181,700,000.00 USD Net income: 127,412,000.00 USD Revenue (2018-02-27) · Operating income (2018-02-27) · Net income (2018-02-27)
2014-12-31	2,813,324,000.00	13.28	9.02	Calculation inputs & SEC filings Revenue: 2,813,324,000.00 USD Operating income: 373,747,000.00 USD Net income: 253,880,000.00 USD Revenue (2017-02-24) · Operating income (2017-02-24) · Net income (2017-02-24)
2013-12-31	2,852,671,000.00	14.27	10.23	Calculation inputs & SEC filings Revenue: 2,852,671,000.00 USD Operating income: 406,985,000.00 USD Net income: 291,687,000.00 USD Revenue (2016-02-25) · Operating income (2016-02-25) · Net income (2016-02-25)
2012-12-31	2,853,367,000.00	12.69	9.01	Calculation inputs & SEC filings Revenue: 2,853,367,000.00 USD Operating income: 362,081,000.00 USD Net income: 257,216,000.00 USD Revenue (2015-02-20) · Operating income (2015-02-20) · Net income (2015-02-20)
2011-12-31	2,694,609,000.00	11.01	8.05	Calculation inputs & SEC filings Revenue: 2,694,609,000.00 USD Operating income: 296,680,000.00 USD Net income: 217,013,000.00 USD Revenue (2014-02-21) · Operating income (2014-02-21) · Net income (2014-02-21)
2010-12-31	Unavailable	Unavailable	Unavailable	Calculation inputs & SEC filings Revenue: Unavailable — required inputs are missing, conflicting or unsupported Operating income: 186,430,000.00 USD Net income: 132,210,000.00 USD Operating income (2013-02-22) · Net income (2013-02-22)
2009-12-31	Unavailable	Unavailable	Unavailable	Calculation inputs & SEC filings Revenue: Unavailable — required inputs are missing, conflicting or unsupported Operating income: 93,233,000.00 USD Net income: 48,833,000.00 USD Operating income (2012-02-24) · Net income (2012-02-24)
2008-12-31	Unavailable	Unavailable	Unavailable	Calculation inputs & SEC filings Revenue: Unavailable — required inputs are missing, conflicting or unsupported Operating income: 295,660,000.00 USD Net income: 212,542,000.00 USD Operating income (2011-02-28) · Net income (2011-02-28)

Cash generation and capital returns

FCF margin is free cash flow as a share of revenue. FCF / net income compares free cash flow with positive net income. ROCE divides operating income by average capital employed and requires positive opening and closing balances. Metric definitions.

Fiscal end	FCF margin (%)	FCF / net income (%)	ROCE (%)	Calculation inputs & SEC filings
2025-12-31	12.62	102.63	26.29	Calculation inputs & SEC filings FCF margin (FCF ÷ revenue): Free cash flow 534,199,000.00 USD ÷ Revenue 4,233,003,000.00 USD FCF / net income: Free cash flow 534,199,000.00 USD ÷ Net income 520,533,000.00 USD ROCE (operating income ÷ average capital employed): Operating income 718,059,000.00 USD ÷ Average capital employed 2,731,113,000.00 USD Operating cash flow (2026-02-25) · Capital expenditure (2026-02-25) · Revenue (2026-02-25) · Operating cash flow (2026-02-25) · Capital expenditure (2026-02-25) · FCF / net income input 3 (2026-02-25) · Operating income (2026-02-25) · Total assets as of 2024-12-31 (2026-02-25) · Current liabilities as of 2024-12-31 (2026-02-25) · Total assets as of 2025-12-31 (2026-02-25) · Current liabilities as of 2025-12-31 (2026-02-25)
2024-12-31	12.03	103.49	24.18	Calculation inputs & SEC filings FCF margin (FCF ÷ revenue): Free cash flow 482,374,000.00 USD ÷ Revenue 4,008,670,000.00 USD FCF / net income: Free cash flow 482,374,000.00 USD ÷ Net income 466,108,000.00 USD ROCE (operating income ÷ average capital employed): Operating income 636,462,000.00 USD ÷ Average capital employed 2,632,013,500.00 USD Operating cash flow (2026-02-25) · Capital expenditure (2026-02-25) · Revenue (2026-02-25) · Operating cash flow (2026-02-25) · Capital expenditure (2026-02-25) · FCF / net income input 3 (2026-02-25) · Operating income (2026-02-25) · Total assets as of 2023-12-31 (2025-02-26) · Current liabilities as of 2023-12-31 (2025-02-26) · Total assets as of 2024-12-31 (2026-02-25) · Current liabilities as of 2024-12-31 (2026-02-25)
2023-12-31	13.75	105.74	29.00	Calculation inputs & SEC filings FCF margin (FCF ÷ revenue): Free cash flow 576,555,000.00 USD ÷ Revenue 4,191,636,000.00 USD FCF / net income: Free cash flow 576,555,000.00 USD ÷ Net income 545,248,000.00 USD ROCE (operating income ÷ average capital employed): Operating income 717,849,000.00 USD ÷ Average capital employed 2,475,168,000.00 USD Operating cash flow (2026-02-25) · Capital expenditure (2026-02-25) · Revenue (2026-02-25) · Operating cash flow (2026-02-25) · Capital expenditure (2026-02-25) · FCF / net income input 3 (2026-02-25) · Operating income (2024-02-27) · Total assets as of 2022-12-31 (2024-02-27) · Current liabilities as of 2022-12-31 (2024-02-27) · Total assets as of 2023-12-31 (2024-02-27) · Current liabilities as of 2023-12-31 (2024-02-27)
2022-12-31	8.28	65.97	29.41	Calculation inputs & SEC filings FCF margin (FCF ÷ revenue): Free cash flow 311,503,000.00 USD ÷ Revenue 3,761,211,000.00 USD FCF / net income: Free cash flow 311,503,000.00 USD ÷ Net income 472,224,000.00 USD ROCE (operating income ÷ average capital employed): Operating income 612,336,000.00 USD ÷ Average capital employed 2,082,025,500.00 USD Operating cash flow (2025-02-26) · Capital expenditure (2025-02-26) · Revenue (2025-02-26) · Operating cash flow (2025-02-26) · Capital expenditure (2025-02-26) · FCF / net income input 3 (2025-02-26) · Operating income (2023-02-21) · Total assets as of 2021-12-31 (2023-02-21) · Current liabilities as of 2021-12-31 (2023-02-21) · Total assets as of 2022-12-31 (2023-02-21) · Current liabilities as of 2022-12-31 (2023-02-21)
2021-12-31	9.35	109.38	25.64	Calculation inputs & SEC filings FCF margin (FCF ÷ revenue): Free cash flow 302,532,000.00 USD ÷ Revenue 3,234,180,000.00 USD FCF / net income: Free cash flow 302,532,000.00 USD ÷ Net income 276,580,000.00 USD ROCE (operating income ÷ average capital employed): Operating income 461,669,000.00 USD ÷ Average capital employed 1,800,703,000.00 USD Operating cash flow (2024-02-27) · Capital expenditure (2024-02-27) · Revenue (2024-02-27) · Operating cash flow (2024-02-27) · Capital expenditure (2024-02-27) · FCF / net income input 3 (2024-02-27) · Operating income (2022-02-18) · Total assets as of 2020-12-31 (2022-02-18) · Current liabilities as of 2020-12-31 (2022-02-18) · Total assets as of 2021-12-31 (2022-02-18) · Current liabilities as of 2021-12-31 (2022-02-18)
2020-12-31	11.00	141.73	15.79	Calculation inputs & SEC filings FCF margin (FCF ÷ revenue): Free cash flow 292,161,000.00 USD ÷ Revenue 2,655,400,000.00 USD FCF / net income: Free cash flow 292,161,000.00 USD ÷ Net income 206,144,000.00 USD ROCE (operating income ÷ average capital employed): Operating income 282,071,000.00 USD ÷ Average capital employed 1,786,541,000.00 USD Operating cash flow (2023-02-21) · Capital expenditure (2023-02-21) · FCF margin input 3 (2023-02-21) · Operating cash flow (2023-02-21) · Capital expenditure (2023-02-21) · FCF / net income input 3 (2023-02-21) · Operating income (2021-02-19) · Total assets as of 2019-12-31 (2021-02-19) · Current liabilities as of 2019-12-31 (2021-02-19) · Total assets as of 2020-12-31 (2021-02-19) · Current liabilities as of 2020-12-31 (2021-02-19)
2019-12-31	11.11	113.81	20.49	Calculation inputs & SEC filings FCF margin (FCF ÷ revenue): Free cash flow 333,570,000.00 USD ÷ Revenue 3,003,272,000.00 USD FCF / net income: Free cash flow 333,570,000.00 USD ÷ Net income 293,083,000.00 USD ROCE (operating income ÷ average capital employed): Operating income 370,910,000.00 USD ÷ Average capital employed 1,809,860,500.00 USD Operating cash flow (2022-02-18) · Capital expenditure (2022-02-18) · FCF margin input 3 (2022-02-18) · Operating cash flow (2022-02-18) · Capital expenditure (2022-02-18) · FCF / net income input 3 (2022-02-18) · Operating income (2020-02-27) · Total assets as of 2018-12-31 (2020-02-27) · Current liabilities as of 2018-12-31 (2020-02-27) · Total assets as of 2019-12-31 (2020-02-27) · Current liabilities as of 2019-12-31 (2020-02-27)
2018-12-31	8.52	89.86	20.36	Calculation inputs & SEC filings FCF margin (FCF ÷ revenue): Free cash flow 257,906,000.00 USD ÷ Revenue 3,028,674,000.00 USD FCF / net income: Free cash flow 257,906,000.00 USD ÷ Net income 286,993,000.00 USD ROCE (operating income ÷ average capital employed): Operating income 375,539,000.00 USD ÷ Average capital employed 1,844,724,000.00 USD Operating cash flow (2021-02-19) · Capital expenditure (2021-02-19) · FCF margin input 3 (2021-02-19) · Operating cash flow (2021-02-19) · Capital expenditure (2021-02-19) · FCF / net income input 3 (2021-02-19) · Operating income (2019-02-27) · Total assets as of 2017-12-31 (2019-02-27) · Current liabilities as of 2017-12-31 (2019-02-27) · Total assets as of 2018-12-31 (2019-02-27) · Current liabilities as of 2018-12-31 (2019-02-27)
2017-12-31	10.41	110.39	Unavailable	Calculation inputs & SEC filings FCF margin (FCF ÷ revenue): Free cash flow 273,189,000.00 USD ÷ Revenue 2,624,431,000.00 USD FCF / net income: Free cash flow 273,189,000.00 USD ÷ Net income 247,475,000.00 USD ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent. Operating cash flow (2020-02-27) · Capital expenditure (2020-02-27) · FCF margin input 3 (2020-02-27) · Operating cash flow (2020-02-27) · Capital expenditure (2020-02-27) · FCF / net income input 3 (2020-02-27) · Operating income (2020-02-27) · Total assets as of 2016-12-31 (2019-02-27) · Current liabilities as of 2016-12-31 (2018-02-27) · Total assets as of 2017-12-31 (2020-02-27) · Current liabilities as of 2017-12-31 (2019-02-27)
2016-12-31	11.55	132.42	Unavailable	Calculation inputs & SEC filings FCF margin (FCF ÷ revenue): Free cash flow 262,680,000.00 USD ÷ Revenue 2,274,614,000.00 USD FCF / net income: Free cash flow 262,680,000.00 USD ÷ Net income 198,373,000.00 USD ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent. FCF margin input 1 (2019-02-27) · Capital expenditure (2019-02-27) · FCF margin input 3 (2019-02-27) · FCF / net income input 1 (2019-02-27) · Capital expenditure (2019-02-27) · FCF / net income input 3 (2019-02-27) · Operating income (2019-02-27) · Total assets as of 2015-12-31 (2018-02-27) · Current liabilities as of 2015-12-31 (2017-02-24) · Total assets as of 2016-12-31 (2019-02-27) · Current liabilities as of 2016-12-31 (2018-02-27)
2015-12-31	10.34	205.89	12.70	Calculation inputs & SEC filings FCF margin (FCF ÷ revenue): Free cash flow 262,325,000.00 USD ÷ Revenue 2,535,791,000.00 USD FCF / net income: Free cash flow 262,325,000.00 USD ÷ Net income 127,412,000.00 USD ROCE (operating income ÷ average capital employed): Operating income 181,700,000.00 USD ÷ Average capital employed 1,430,434,500.00 USD FCF margin input 1 (2018-02-27) · Capital expenditure (2018-02-27) · FCF margin input 3 (2018-02-27) · FCF / net income input 1 (2018-02-27) · Capital expenditure (2018-02-27) · FCF / net income input 3 (2018-02-27) · Operating income (2016-02-25) · Total assets as of 2014-12-31 (2016-02-25) · Current liabilities as of 2014-12-31 (2016-02-25) · Total assets as of 2015-12-31 (2016-02-25) · Current liabilities as of 2015-12-31 (2016-02-25)
2014-12-31	11.68	129.48	Unavailable	Calculation inputs & SEC filings FCF margin (FCF ÷ revenue): Free cash flow 328,712,000.00 USD ÷ Revenue 2,813,324,000.00 USD FCF / net income: Free cash flow 328,712,000.00 USD ÷ Net income 253,880,000.00 USD ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent. FCF margin input 1 (2017-02-24) · Capital expenditure (2017-02-24) · FCF margin input 3 (2017-02-24) · FCF / net income input 1 (2017-02-24) · Capital expenditure (2017-02-24) · FCF / net income input 3 (2017-02-24) · Operating income (2017-02-24) · Total assets as of 2013-12-31 (2016-02-25) · Current liabilities as of 2013-12-31 (2015-02-20) · Total assets as of 2014-12-31 (2017-02-24) · Current liabilities as of 2014-12-31 (2016-02-25)
2013-12-31	9.22	90.12	24.34	Calculation inputs & SEC filings FCF margin (FCF ÷ revenue): Free cash flow 262,879,000.00 USD ÷ Revenue 2,852,671,000.00 USD FCF / net income: Free cash flow 262,879,000.00 USD ÷ Net income 291,687,000.00 USD ROCE (operating income ÷ average capital employed): Operating income 406,985,000.00 USD ÷ Average capital employed 1,672,273,000.00 USD FCF margin input 1 (2016-02-25) · Capital expenditure (2016-02-25) · FCF margin input 3 (2016-02-25) · FCF / net income input 1 (2016-02-25) · Capital expenditure (2016-02-25) · FCF / net income input 3 (2016-02-25) · Operating income (2014-02-21) · Total assets as of 2012-12-31 (2014-02-21) · Current liabilities as of 2012-12-31 (2014-02-21) · Total assets as of 2013-12-31 (2014-02-21) · Current liabilities as of 2013-12-31 (2014-02-21)
2012-12-31	9.63	106.82	22.95	Calculation inputs & SEC filings FCF margin (FCF ÷ revenue): Free cash flow 274,769,000.00 USD ÷ Revenue 2,853,367,000.00 USD FCF / net income: Free cash flow 274,769,000.00 USD ÷ Net income 257,216,000.00 USD ROCE (operating income ÷ average capital employed): Operating income 362,081,000.00 USD ÷ Average capital employed 1,577,665,000.00 USD FCF margin input 1 (2015-02-20) · Capital expenditure (2015-02-20) · FCF margin input 3 (2015-02-20) · FCF / net income input 1 (2015-02-20) · Capital expenditure (2015-02-20) · FCF / net income input 3 (2015-02-20) · Operating income (2013-02-22) · Total assets as of 2011-12-31 (2013-02-22) · Current liabilities as of 2011-12-31 (2013-02-22) · Total assets as of 2012-12-31 (2013-02-22) · Current liabilities as of 2012-12-31 (2013-02-22)
2011-12-31	4.74	58.85	20.09	Calculation inputs & SEC filings FCF margin (FCF ÷ revenue): Free cash flow 127,705,000.00 USD ÷ Revenue 2,694,609,000.00 USD FCF / net income: Free cash flow 127,705,000.00 USD ÷ Net income 217,013,000.00 USD ROCE (operating income ÷ average capital employed): Operating income 296,680,000.00 USD ÷ Average capital employed 1,476,965,000.00 USD FCF margin input 1 (2014-02-21) · Capital expenditure (2014-02-21) · FCF margin input 3 (2014-02-21) · FCF / net income input 1 (2014-02-21) · Capital expenditure (2014-02-21) · FCF / net income input 3 (2014-02-21) · Operating income (2012-02-24) · Total assets as of 2010-12-31 (2012-02-24) · Current liabilities as of 2010-12-31 (2012-02-24) · Total assets as of 2011-12-31 (2012-02-24) · Current liabilities as of 2011-12-31 (2012-02-24)
2010-12-31	Unavailable	72.92	13.06	Calculation inputs & SEC filings FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported. FCF / net income: Free cash flow 96,413,000.00 USD ÷ Net income 132,210,000.00 USD ROCE (operating income ÷ average capital employed): Operating income 186,430,000.00 USD ÷ Average capital employed 1,427,758,500.00 USD Operating cash flow (2011-02-28) · Capital expenditure (2013-02-22) · Operating cash flow (2011-02-28) · Capital expenditure (2011-02-28) · FCF / net income input 3 (2011-02-28) · Operating income (2011-02-28) · Total assets as of 2009-12-31 (2011-02-28) · Current liabilities as of 2009-12-31 (2011-02-28) · Total assets as of 2010-12-31 (2011-02-28) · Current liabilities as of 2010-12-31 (2011-02-28)
2009-12-31	Unavailable	434.44	Unavailable	Calculation inputs & SEC filings FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported. FCF / net income: Free cash flow 212,149,000.00 USD ÷ Net income 48,833,000.00 USD ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent. Operating cash flow (2011-02-28) · Capital expenditure (2012-02-24) · Operating cash flow (2011-02-28) · Capital expenditure (2011-02-28) · FCF / net income input 3 (2011-02-28) · Operating income (2012-02-24) · Total assets as of 2009-12-31 (2012-02-24) · Current liabilities as of 2009-12-31 (2011-02-28)
2008-12-31	Unavailable	87.05	Unavailable	Calculation inputs & SEC filings FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported. FCF / net income: Free cash flow 185,023,000.00 USD ÷ Net income 212,542,000.00 USD ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent. Operating cash flow (2011-02-28) · Capital expenditure (2011-02-28) · Operating cash flow (2011-02-28) · Capital expenditure (2011-02-28) · FCF / net income input 3 (2011-02-28) · Operating income (2011-02-28)

Valuation history

P/E ratio history

The P/E chart uses 1129 weekly price points (2005-02-25–2026-10-08); 928 have a basic or diluted P/E ratio. Annual EPS carries forward between fiscal year-ends.

Fiscal-year-end snapshots

18 fiscal-year-end periods with an eligible ratio (2008-12-31–2025-12-31). Most recent: diluted 26.45× and basic 26.25× (fiscal end 2025-12-31; price date 2025-12-26).

Annual P/E = fiscal-year-end closing price ÷ reported annual EPS. It is a historical annual ratio, not TTM or forward P/E. Zero or negative EPS and missing eligible prices produce no ratio. Why we use annual data.

Open the interactive P/E chart · How P/E history is calculated.

Show all annual P/E values (18 fiscal years)

Full stored fiscal-year-end P/E history, independent of the selected chart window. Ratios in ×; prices in USD.
Fiscal end	Price date	Close	Price basis	Basic P/E	Diluted P/E	EPS filings
2025-12-31	2025-12-26	246.47	Adjusted close	26.25	26.45	Basic EPS (2026-02-25) Diluted EPS (2026-02-25)
2024-12-31	2024-12-27	189.86	Adjusted close	23.07	23.30	Basic EPS (2026-02-25) Diluted EPS (2026-02-25)
2023-12-31	2023-12-29	217.46	Adjusted close	22.89	23.21	Basic EPS (2026-02-25) Diluted EPS (2026-02-25)
2022-12-31	2022-12-30	144.49	Adjusted close	17.75	17.97	Basic EPS (2025-02-26) Diluted EPS (2025-02-26)
2021-12-31	2021-12-31	137.68	Adjusted close	29.55	29.93	Basic EPS (2024-02-27) Diluted EPS (2024-02-27)
2020-12-31	2020-12-31	112.94	Adjusted close	32.64	33.02	Basic EPS (2023-02-21) Diluted EPS (2023-02-21)
2019-12-31	2019-12-27	92.14	Adjusted close	19.48	19.69	Basic EPS (2022-02-18) Diluted EPS (2022-02-18)
2018-12-31	2018-12-28	71.83	Adjusted close	16.25	16.44	Basic EPS (2021-02-19) Diluted EPS (2021-02-19)
2017-12-31	2017-12-29	83.46	Adjusted close	22.20	22.50	Basic EPS (2020-02-27) Diluted EPS (2020-02-27)
2016-12-31	2016-12-30	68.76	Adjusted close	23.39	23.63	Basic EPS (2019-02-27) Diluted EPS (2019-02-27)
2015-12-31	2015-12-31	45.58	Adjusted close	26.50	26.81	Basic EPS (2018-02-27) Diluted EPS (2018-02-27)
2014-12-31	2014-12-26	60.26	Adjusted close	18.71	18.95	Basic EPS (2017-02-24) Diluted EPS (2017-02-24)
2013-12-31	2013-12-27	60.58	Adjusted close	16.92	17.11	Basic EPS (2016-02-25) Diluted EPS (2016-02-25)
2012-12-31	2012-12-28	40.12	Adjusted close	12.94	13.11	Basic EPS (2015-02-20) Diluted EPS (2015-02-20)
2011-12-31	2011-12-30	32.35	Adjusted close	12.44	12.63	Basic EPS (2014-02-21) Diluted EPS (2014-02-21)
2010-12-31	2010-12-31	26.50	Adjusted close	17.21	17.32	Basic EPS (2013-02-22) Diluted EPS (2013-02-22)
2009-12-31	2009-12-31	21.71	Adjusted close	38.08	38.08	Basic EPS (2012-02-24) Diluted EPS (2012-02-24)
2008-12-31	2008-12-26	19.15	Adjusted close	3.85	3.89	Basic EPS (2011-02-28) Diluted EPS (2011-02-28)

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