Lincoln Electric Holdings, Inc. (LECO) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 102.17M | 94.97M | 236.69M | 143.83M | 185.69M | 95.8M | 199.2M | 170.69M | 133.29M | 121.66M | 223.1M | 198.84M | 123.93M | 111.8M | 130.28M | 98.21M | 43.09M | 109.94M | 109.89M | 99.97M |
| Operating CF Margin % | 9.11% | 8.81% | 22.33% | 13.22% | 18.48% | 9.37% | 20.25% | 16.71% | 13.58% | 11.49% | 21.59% | 18.75% | 11.92% | 12.01% | 13.93% | 10.13% | 4.66% | 13.02% | 13.63% | 12.1% |
| Operating CF Growth % | -44.98% | -0.87% | 18.82% | -15.74% | 39.31% | -21.26% | -10.71% | -14.16% | 7.56% | 8.82% | 71.25% | 102.47% | 187.61% | 1.7% | 18.56% | -1.76% | -4.8% | -19.04% | 22.72% | -3.91% |
| Net Income | 136.38M | 136.02M | 122.63M | 143.4M | 118.49M | 140.23M | 100.76M | 101.71M | 123.42M | 156.64M | 129.34M | 137.33M | 121.93M | 109.15M | 109.22M | 127.82M | 126.03M | 74.43M | 31.76M | 96.11M |
| Depreciation & Amortization | 26.01M | 25.56M | 24.74M | 24.46M | 23.78M | 23.14M | 22.64M | 20.86M | 21.59M | 21.97M | 21.49M | 21.92M | 21.3M | 19.05M | 19.25M | 19.87M | 19.89M | 20.59M | 22.05M | 19.39M |
| Stock-Based Compensation | 0 | 0 | 3.63M | 3.92M | 8.35M | 4.55M | 1.12M | 4.19M | 14.19M | 4.11M | 5.51M | 4.98M | 11.63M | 4.32M | 4.61M | 5.19M | 11.15M | 5.57M | 5.56M | 6.25M |
| Deferred Taxes | 22.53M | 11.35M | 97.74M | -20.5M | -5.84M | -26.99M | -9.48M | 3.48M | -7.35M | -24.13M | -573K | 10.79M | -7.02M | -13.8M | -12.63M | -3.56M | -18.21M | -128K | -7.43M | -4.88M |
| Other Non-Cash Items | 8.06M | 10.86M | -1.73M | -461K | 282K | -15.31M | 7.43M | 20.6M | 5.17M | -46.1M | -4.9M | 4.25M | -2.12M | -3.81M | 14.94M | 8.05M | 914K | 30.17M | 75.92M | -6.87M |
| Working Capital Changes | -90.82M | -88.82M | -10.33M | -6.99M | 40.63M | -29.83M | 76.72M | 19.84M | -23.72M | 9.17M | 72.24M | 19.57M | -21.79M | -3.09M | -5.11M | -59.15M | -96.69M | -20.7M | -17.97M | -10.03M |
| Change in Receivables | -60.21M | -35.86M | 61.64M | -18.1M | -34.11M | 16.66M | 50.65M | -4.88M | -9.6M | 8.29M | 25.59M | 8.77M | -27.66M | -441K | 39.39M | -17.84M | -86.12M | 5.37M | 16.36M | -21.78M |
| Change in Inventory | -61.88M | 39.44M | -39.57M | -27.48M | -20.17M | 47.05M | 5.93M | -18.21M | -9.42M | 64.31M | 51.51M | 386K | 5.88M | 54.39M | -22.98M | -57.19M | -55.41M | -25.49M | -45.67M | -40.62M |
| Change in Payables | 83.78M | -34.3M | 22.46M | 3.21M | 64.88M | -20.3M | -35.84M | 25M | 3.96M | -7.36M | -26.24M | -5.28M | 6.84M | -2.72M | -24.68M | 4.97M | 39.28M | 27.41M | -8.29M | 20.95M |
| Cash from Investing | -38.72M | -43.05M | -134.81M | -57.17M | -22.3M | -25.87M | -134.61M | -174.81M | -25.94M | 26.38M | -24.76M | -60.3M | -16.05M | -432.43M | -17.25M | -14.89M | -40.12M | -10.66M | -92.26M | -99.58M |
| Capital Expenditures | -39.16M | -42.95M | -31.64M | -25.44M | -26.95M | -31.49M | -35.72M | -23.14M | -26.26M | -24.53M | -25.91M | -21.77M | -18.79M | -19.58M | -17.7M | -15.93M | -18.67M | -16.09M | -18.67M | -17.83M |
| CapEx % of Revenue | 3.49% | 3.99% | 2.99% | 2.34% | 2.68% | 3.08% | 3.63% | 2.27% | 2.68% | 2.32% | 2.51% | 2.05% | 1.81% | 2.1% | 1.89% | 1.64% | 2.02% | 1.91% | 2.32% | 2.16% |
| Acquisitions | 140K | -875K | -104.35M | -32.31M | 0 | 0 | -100.09M | -151.67M | 316K | 44.9M | -28K | -32.66M | 0 | -414M | -199K | -82K | -22.01M | 2.5M | -74.88M | -83.72M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 308K | 770K | 1.18M | 585K | 4.65M | 5.61M | 1.2M | 0 | 0 | 17.9M | 704K | -21.19M | 3.31M | 1.15M | 646K | 1.12M | 569K | 2.93M | 1.29M | 1.97M |
| Cash from Financing | -72.57M | -36.49M | -107.69M | -173.22M | -144.49M | -92.34M | 66.15M | -93.05M | -125.4M | -101.01M | -84.48M | -115.58M | -111.32M | 371.15M | -115.06M | -81.77M | -40.6M | -65.83M | -47.12M | -53.62M |
| Debt Issued (Net) | 19.61M | 55.57M | -17.12M | -4.3M | -1.07M | 2.76M | 155.93M | -2.76M | 1.85M | -5.17M | -3.61M | -35.15M | -44.05M | 424.8M | -56.83M | -24.48M | 96.31M | -32.3M | 31.13M | -144K |
| Equity Issued (Net) | -48.11M | -50.3M | -49M | -126.99M | -100.44M | -51.02M | -49.49M | -49.87M | -85.97M | -59.11M | -44.07M | -43.54M | -29.68M | -20.86M | -25.77M | -24.74M | -103.54M | -49.37M | -47.91M | -22.34M |
| Dividends Paid | -44.07M | -41.76M | -41.57M | -41.93M | -42.98M | -40.16M | -40.28M | -40.42M | -41.28M | -36.73M | -36.8M | -36.89M | -37.58M | -32.35M | -32.46M | -32.55M | -33.36M | -30.13M | -30.34M | -30.38M |
| Share Repurchases | -56.67M | -51.82M | -52.66M | -127.13M | -106.69M | -52.54M | -50.39M | -50.41M | -110.41M | -68.18M | -45.35M | -53.08M | -32.16M | -25.08M | -26.52M | -25.12M | -104.58M | -60.68M | -50.16M | -25.23M |
| Other Financing | 0 | 0 | 0 | 0 | 0 | -3.92M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -438K | 0 | 0 | 0 | 45.97M | 0 | -763K |
| Net Change in Cash | -9.89M | 15.79M | -6.48M | -95.22M | 17.44M | -26.96M | 131.55M | -102.31M | -18.81M | 51.12M | 122.18M | 21.68M | 1.65M | 55.84M | -11.49M | -1.58M | -38.59M | 32.4M | -30.32M | -51.24M |
| Free Cash Flow | 63.01M | 52.02M | 205.05M | 118.39M | 158.74M | 64.31M | 163.48M | 147.55M | 107.04M | 97.13M | 197.2M | 177.08M | 105.14M | 92.22M | 112.58M | 82.28M | 24.42M | 93.85M | 91.22M | 82.14M |
| FCF Margin % | 5.62% | 4.83% | 19.35% | 10.88% | 15.79% | 6.29% | 16.62% | 14.45% | 10.91% | 9.18% | 19.09% | 16.7% | 10.12% | 9.91% | 12.04% | 8.49% | 2.64% | 11.12% | 11.31% | 9.94% |
| FCF Growth % | -60.31% | -19.11% | 25.43% | -19.77% | 48.31% | -33.79% | -17.1% | -16.68% | 1.8% | 5.33% | 75.16% | 115.21% | 330.6% | -1.73% | 23.42% | 0.17% | -30.88% | -17.47% | 17.79% | -9.6% |
| FCF per Share | 1.14 | 0.94 | 3.69 | 2.12 | 2.81 | 1.13 | 2.86 | 2.57 | 1.86 | 1.68 | 3.39 | 3.04 | 1.80 | 1.58 | 1.92 | 1.40 | 0.41 | 1.57 | 1.52 | 1.37 |
| FCF Conversion (FCF/Net Income) | 0.75x | 0.70x | 1.93x | 1.00x | 1.57x | 0.68x | 1.98x | 1.68x | 1.08x | 0.78x | 1.72x | 1.45x | 1.02x | 1.02x | 1.19x | 0.77x | 0.34x | 1.48x | 3.46x | 1.04x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |