LECO
Lincoln Electric Holdings, Inc.
Is LECO Halal?
Global manufacturer of welding, cutting, and joining products — a permissible industrial-equipment manufacturing business with a strong financial-screen profile.
What You Should Know
Lincoln Electric manufactures welding, cutting, joining and consumable products through its welding and Harris businesses. General-purpose industrial equipment is generally permissible, while defense, shipbuilding and end-market allocation remain qualitative. Its March 31, 2026 Form 10-Q reports assets of $3,900.395 million, conservative debt/leases of $1,364.841 million, cash of $298.903 million, receivables of $684.891 million and quarterly revenue of $1,121.434 million. Debt/assets is 34.99%, liquidity/assets is 7.66% and receivables plus cash/assets is 25.22%; the asset-based debt screen fails, while disclosed investment interest is $1.385 million, or 0.12% of revenue.
⚠️ Concerns
- •Known debt/assets is 34.99%, above examined 33.333% limits
- •Defense and shipbuilding end markets require qualified review
- •Disclosed investment interest is 0.12% of revenue; no fixed purification percentage asserted
- •Steel, copper and other metal input-cost exposure
- •Industrial production and capital-equipment cycles
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
1,364.841 / 3,900.395
298.903 / 3,900.395
983.794 / 3,900.395
1.385 / 1,121.434
- Financial
- Fails
- Overall
- Fails
Debt/assets is 34.99%, above the examined 33.333% limit; liquidity/assets is 7.66%, receivables-plus-cash/assets is 25.22% and disclosed investment interest is 0.12%.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 34.99%, above the examined MSCI 33.33% limit; liquidity and receivables-plus-cash remain below their limits.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 34.99%, above the examined Malaysia limit; identifiable liquidity/assets is 7.66%. This is not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A properly licensed and reproducible historical market-cap series is not stored; asset-based debt screening already fails.
Business-activity disclosure
Lincoln Electric manufactures welding, cutting, joining and consumable products. General-purpose industrial equipment is generally permissible, while defense, shipbuilding and end-customer allocation remain qualitative.
Limitation: The filing does not provide a universal prohibited-revenue numerator across industrial and defense end markets.
Purification
A small disclosed investment-interest amount is reported, but no universal prohibited-revenue numerator or scholar-specific purification instruction is provided.
Inputs, assumptions and primary sources
- Amounts are USD millions from Lincoln Electric's March 31, 2026 Form 10-Q for the quarter ended that date.
- Conservative debt combines $1,313.640 million current and noncurrent debt with $51.201 million operating-lease liabilities.
- Cash is $298.903 million; receivables combine $598.315 million net accounts receivable and $86.576 million unbilled contracts receivable.
- Quarterly revenue is $1,121.434 million and disclosed investment interest income is $1.385 million, or 0.12% of revenue.
- Welding and cutting products are generally permissible, while defense and shipbuilding end uses remain qualitative.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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