LECO vs. NDSN
LECO (Lincoln Electric Holdings, Inc.) and NDSN (Nordson Corporation) are both stocks. Both are in the Industrials sector — LECO in Tools & Accessories, NDSN in Specialty Industrial Machinery. Over the past 10 years, LECO returned 17.79%/yr vs 14.17%/yr for NDSN. A 0.52 correlation means they provide meaningful diversification when combined.
Performance
LECO vs. NDSN - Performance Comparison
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Returns By Period
In the year-to-date period, LECO achieves a 8.12% return, which is significantly lower than NDSN's 20.24% return. Over the past 10 years, LECO has outperformed NDSN with an annualized return of 17.79%, while NDSN has yielded a comparatively lower 14.17% annualized return.
LECO
- 1D
- 0.19%
- 1M
- -2.64%
- YTD
- 8.12%
- 6M
- 6.64%
- 1Y
- 28.05%
- 3Y*
- 11.30%
- 5Y*
- 16.64%
- 10Y*
- 17.79%
NDSN
- 1D
- 0.90%
- 1M
- 3.33%
- YTD
- 20.24%
- 6M
- 23.21%
- 1Y
- 34.03%
- 3Y*
- 8.35%
- 5Y*
- 6.49%
- 10Y*
- 14.17%
LECO vs. NDSN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LECO Lincoln Electric Holdings, Inc. | 8.12% | 29.63% | -12.55% | 52.61% | 5.42% | 21.89% | 22.97% | 25.41% | -12.24% | 21.37% |
NDSN Nordson Corporation | 20.24% | 17.03% | -20.15% | 12.39% | -5.93% | 28.09% | 24.45% | 37.88% | -17.65% | 31.83% |
Correlation
The correlation between LECO and NDSN is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 1995 | 0.52 |
The correlation between LECO and NDSN shifts across timeframes, from 0.52 (all time) to 0.68 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
LECO:
$14.29B
NDSN:
$16.17B
LECO:
$9.68
NDSN:
$9.36
LECO:
26.67
NDSN:
30.79
LECO:
1.16
NDSN:
12.07
LECO:
3.30
NDSN:
5.60
LECO:
9.45
NDSN:
5.05
LECO:
$4.35B
NDSN:
$2.90B
LECO:
$1.57B
NDSN:
$1.60B
LECO:
$807.88M
NDSN:
$744.50M
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Return for Risk
LECO vs. NDSN — Risk / Return Rank
LECO
NDSN
LECO vs. NDSN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lincoln Electric Holdings, Inc. (LECO) and Nordson Corporation (NDSN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| LECO | NDSN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.27 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 2.42 | -1.01 |
| Martin ratioReturn relative to average drawdown | 3.68 | 7.81 | -4.13 |
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Drawdowns
LECO vs. NDSN - Drawdown Comparison
The maximum LECO drawdown since its inception was -68.89%, smaller than the maximum NDSN drawdown of -73.62%. Use the drawdown chart below to compare losses from any high point for LECO and NDSN.
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Drawdown Indicators
| LECO | NDSN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.89% | -73.62% | +4.73% |
Max Drawdown (1Y)Largest decline over 1 year | -20.09% | -14.15% | -5.94% |
Max Drawdown (3Y)Largest decline over 3 years | -34.29% | -39.15% | +4.86% |
Max Drawdown (5Y)Largest decline over 5 years | -34.29% | -39.15% | +4.86% |
Max Drawdown (10Y)Largest decline over 10 years | -38.89% | -44.24% | +5.35% |
Current DrawdownCurrent decline from peak | -13.31% | -3.41% | -9.90% |
Average DrawdownAverage peak-to-trough decline | -13.51% | -13.24% | -0.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.64% | 4.37% | +3.27% |
Volatility
LECO vs. NDSN - Volatility Comparison
Lincoln Electric Holdings, Inc. (LECO) and Nordson Corporation (NDSN) have volatilities of 8.61% and 8.59%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LECO | NDSN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.61% | 8.59% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 20.20% | 15.87% | +4.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.05% | 21.26% | +5.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.66% | 24.78% | +1.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.43% | 28.47% | -1.04% |
Dividends
LECO vs. NDSN - Dividend Comparison
LECO's dividend yield for the trailing twelve months is around 1.19%, more than NDSN's 1.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LECO Lincoln Electric Holdings, Inc. | 1.19% | 1.27% | 1.54% | 1.21% | 1.61% | 1.50% | 1.70% | 1.96% | 2.08% | 1.57% | 1.71% | 2.29% |
NDSN Nordson Corporation | 1.12% | 1.66% | 1.02% | 1.01% | 0.98% | 0.71% | 0.77% | 0.90% | 1.09% | 0.78% | 0.91% | 1.43% |
Financials
LECO vs. NDSN - Financials Comparison
This section allows you to compare key financial metrics between Lincoln Electric Holdings, Inc. and Nordson Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
LECO vs. NDSN - Profitability Comparison
LECO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Lincoln Electric Holdings, Inc. reported a gross profit of 399.13M and revenue of 1.12B. Therefore, the gross margin over that period was 35.6%.
NDSN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Nordson Corporation reported a gross profit of 404.08M and revenue of 740.85M. Therefore, the gross margin over that period was 54.5%.
LECO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Lincoln Electric Holdings, Inc. reported an operating income of 186.16M and revenue of 1.12B, resulting in an operating margin of 16.6%.
NDSN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Nordson Corporation reported an operating income of 197.20M and revenue of 740.85M, resulting in an operating margin of 26.6%.
LECO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Lincoln Electric Holdings, Inc. reported a net income of 136.38M and revenue of 1.12B, resulting in a net margin of 12.2%.
NDSN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Nordson Corporation reported a net income of 117.32M and revenue of 740.85M, resulting in a net margin of 15.8%.
Frequently Asked Questions
LECO and NDSN have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LECO has higher volatility (8.61%) compared to NDSN (8.59%). In terms of maximum drawdown, LECO dropped -68.89% vs NDSN's -73.62%.
NDSN currently has the higher Sharpe Ratio (1.61 vs 1.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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