FirmAtlas
Company handbook · LII · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
LII · CIK 1069202 · LATEST FILING: 10-Q JUN '26 · FILED JUL 29, 2026
LENNOX INTERNATIONAL INC.
$357.73
−0.77 (−0.21%)
Close, Oct 16, 2026 · 52-week $340–587
Last fiscal year
LENNOX INTERNATIONAL INC. reported revenue of $5.2B for the year ended Dec 31, 2025 (FY25), down 2.7% from FY24. Net income was $806M, operating cash flow $758M and free cash flow $639M. Source: 10-K filed Feb 17, 2026.
Market cap
$12.7B
P/E
16.0
EV/EBITDA
12.1x
P/B
10.4
Div yield
1.49%
ROIC
40.2%
Revenue 1Y
−2.7%/yr
EPS 1Y
0.6%/yr
Shares 1Y
−1%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOAlok Maskara
HQRichardson, TX
AuditorErnst & Young LLP
Employees12,900
Year endsDecember
Revenue by segment · FY25
Residential Heating And Cooling64%
Commercial Heating And Cooling36%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
8.5%
3.0%
−1.8%
−31.7%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$1.7B deployed
Capex
$282M
16.7%
Acquisitions
$543M
32.1%
Dividends
$333M
19.7%
Buybacks
$536M
31.6%
Operating cash flow over the period: $1.7B. Total debt changed by +$241M. R&D of $197M is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Mar '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
5,341
5,195−2.7%
5,258
YoY
−2.7%
Gross profit
1,778
1,735−2.4%
1,745
Gross margin
33.3%
33.4%+0.1 pp
—
Operating income
1,040
1,042+0.1%
1,037
Operating margin
19.5%
20.0%+0.6 pp
—
EBITDA
1,136
1,154+1.6%
—
EBITDA margin
21.3%
22.2%+1.0 pp
—
Interest expense
39
41+5.7%
—
Interest coverage
29.34x
28.22x−1.13x
—
Net income
811
806−0.7%
793
YoY
−0.7%
Net margin
15.2%
15.5%+0.3 pp
—
EPS (diluted, $)
22.66
22.79+0.6%
22.47
YoY
+0.6%
Balance sheet
Total assets
3,620
4,082+12.8%
4,293
Cash & short-term investments
422
53−87.4%
—
Accounts receivable
661
579−12.4%
—
Inventory
853
1,153+35.1%
—
Net PP&E
800
887+10.9%
—
Other assets
884
1,410+59.6%
—
Total liabilities
2,658
2,919+9.8%
3,079
Accounts payable
490
438−10.6%
—
Total debt
1,148
1,388+21.0%
1,523
Other liabilities
1,020
1,092+7.1%
—
Shareholders’ equity
962
1,163+20.9%
1,214
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
946
758−19.9%
810
Net income
811
806−0.7%
—
Depreciation & amortization
95
112+18.3%
—
Stock-based compensation
28
29+2.1%
—
Working capital & other
11
(190)−1825.5%
—
Cash from investing
(174)
(656)n/m
—
Capex
(164)
(119)n/m
—
PP&E sold
2
1−44.0%
—
Acquisitions
2
(545)−30377.8%
—
Other investing
(15)
7n/m
—
Cash from financing
(419)
(466)n/m
—
Debt raised
0
0n/m
—
Debt repaid
0
(300)n/m
—
Dividends
(160)
(173)n/m
—
Buybacks
(54)
(482)n/m
—
Shares issued
4
4−11.1%
—
Other financing
(209)
486n/m
—
Net change in cash
353
(364)−203.1%
—
Free cash flow (OCF − capex)
782
639−18.3%
661
Where the cash went
Operating cash flow
946
758−19.9%
810
Reinvested in the business
162
664+310.3%
—
% of operating cash flow
17.1%
87.6%
Capex
164
119−27.4%
149
Acquisitions
(2)
545n/m
—
R&D (memo, already in costs)
94
103+10.5%
—
Free cash flow
782
639−18.3%
661
YoY
−18.3%
Returned to shareholders
214
655+206.4%
—
% of free cash flow
27.3%
102.6%
Dividends
160
173+7.9%
—
Buybacks
54
482+799.8%
—
Change in total debt
—
241
—
Cash left over
—
(321)
—
FCF conversion (FCF ÷ net income)
96.4%
79.3%−17.1 pp
—
Owner earnings
—
530
—
Owner earnings margin
—
10.2%
—
Buyback yield
0.2%
2.8%+2.6 pp
—
Returns & ratios
ROIC (all capital)
50.0%
40.2%−9.8 pp
—
ROIC (operating)
46.3%
42.0%−4.2 pp
—
Net debt / EBITDA
0.64x
1.16x+0.52x
—
Debt / equity
1.19x
1.19x+0.00x
—
Cash conversion cycle (days)
82
116+34 d
—
ROE
84.3%
69.3%−15.0 pp
—
ROA
22.4%
19.7%−2.7 pp
—
ROCE
45.1%
36.0%−9.1 pp
—
NOPAT
844
842−0.3%
—
Invested capital (operating)
1,824
2,181+19.5%
—
Invested capital (all)
1,687
2,498+48.1%
—
Reinvestment rate
—
42.3%
—
Debtor days
45
41−5 d
—
Inventory days
87
122+34 d
—
Days payable
50
46−4 d
—
Income
Jun '25
Sep '25
Dec '25
Mar '26
Revenue
1,501
1,427
1,195
1,135
vs year-ago quarter
Gross profit
522
469
403
351
Gross margin
34.8%
32.8%
33.7%
30.9%
Operating income
354
310
209
164
Net income
278
246
153
117
vs year-ago quarter
Net margin
18.5%
17.2%
12.8%
10.3%
EPS (diluted, $)
7.82
6.98
4.32
3.35
vs year-ago quarter
Balance sheet
Jun '25
Sep '25
Dec '25
Mar '26
Total assets
3,653
3,525
4,082
4,293
Cash & equivalents
49
53
53
67
Total debt
1,181
1,012
1,388
1,523
Shareholders’ equity
900
1,070
1,163
1,214
Cash flow
Jun '25
Sep '25
Dec '25
Mar '26
Operating cash flow
87
301
406
16
Capex
28
36
29
56
Free cash flow
58
265
377
(39)
vs year-ago quarter