MLI vs. LECO
MLI (Mueller Industries, Inc.) and LECO (Lincoln Electric Holdings, Inc.) are both stocks. Both are in the Industrials sector — MLI in Metal Fabrication, LECO in Tools & Accessories. Over the past 10 years, MLI returned 26.89%/yr vs 18.68%/yr for LECO. At a 0.49 correlation, their price movements are largely independent.
Performance
MLI vs. LECO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MLI achieves a 19.45% return, which is significantly higher than LECO's 12.66% return. Over the past 10 years, MLI has outperformed LECO with an annualized return of 26.89%, while LECO has yielded a comparatively lower 18.68% annualized return.
MLI
- 1D
- -2.28%
- 1M
- 2.47%
- YTD
- 19.45%
- 6M
- 16.82%
- 1Y
- 78.98%
- 3Y*
- 50.08%
- 5Y*
- 46.09%
- 10Y*
- 26.89%
LECO
- 1D
- -2.05%
- 1M
- 2.16%
- YTD
- 12.66%
- 6M
- 10.38%
- 1Y
- 31.92%
- 3Y*
- 13.95%
- 5Y*
- 17.05%
- 10Y*
- 18.68%
MLI vs. LECO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MLI Mueller Industries, Inc. | 19.45% | 46.29% | 70.51% | 62.38% | 1.05% | 70.95% | 12.30% | 37.79% | -33.10% | -2.76% |
LECO Lincoln Electric Holdings, Inc. | 12.66% | 29.63% | -12.55% | 52.61% | 5.42% | 21.89% | 22.97% | 25.41% | -12.24% | 21.37% |
Correlation
The correlation between MLI and LECO is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 1995 | 0.49 |
The correlation between MLI and LECO shifts across timeframes, from 0.49 (all time) to 0.63 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
MLI:
$10.18
LECO:
$9.68
MLI:
13.40
LECO:
27.80
MLI:
0.87
LECO:
1.21
MLI:
2.59
LECO:
3.44
MLI:
$4.37B
LECO:
$4.35B
MLI:
$871.92M
LECO:
$1.57B
MLI:
$1.03B
LECO:
$807.88M
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MLI vs. LECO — Risk / Return Rank
MLI
LECO
MLI vs. LECO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mueller Industries, Inc. (MLI) and Lincoln Electric Holdings, Inc. (LECO). 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.
| MLI | LECO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.50 | ||
| Sortino ratioReturn per unit of downside risk | +1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.22 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 3.56 | 1.60 | +1.96 |
| Martin ratioReturn relative to average drawdown | 9.86 | 4.12 | +5.74 |
Loading charts...
Drawdowns
MLI vs. LECO - Drawdown Comparison
The maximum MLI drawdown since its inception was -61.72%, smaller than the maximum LECO drawdown of -68.89%. Use the drawdown chart below to compare losses from any high point for MLI and LECO.
Loading charts...
Drawdown Indicators
| MLI | LECO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.72% | -68.89% | +7.17% |
Max Drawdown (1Y)Largest decline over 1 year | -22.33% | -20.09% | -2.24% |
Max Drawdown (3Y)Largest decline over 3 years | -27.79% | -34.29% | +6.50% |
Max Drawdown (5Y)Largest decline over 5 years | -27.79% | -34.29% | +6.50% |
Max Drawdown (10Y)Largest decline over 10 years | -52.95% | -38.89% | -14.06% |
Current DrawdownCurrent decline from peak | -2.94% | -9.67% | +6.73% |
Average DrawdownAverage peak-to-trough decline | -16.03% | -13.50% | -2.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.04% | 7.76% | +0.28% |
Volatility
MLI vs. LECO - Volatility Comparison
Mueller Industries, Inc. (MLI) has a higher volatility of 10.01% compared to Lincoln Electric Holdings, Inc. (LECO) at 9.17%. This indicates that MLI's price experiences larger fluctuations and is considered to be riskier than LECO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MLI | LECO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.01% | 9.17% | +0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 25.90% | 20.61% | +5.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.06% | 27.39% | +2.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.01% | 26.70% | +6.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.77% | 27.44% | +8.33% |
Dividends
MLI vs. LECO - Dividend Comparison
MLI's dividend yield for the trailing twelve months is around 0.88%, less than LECO's 1.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LECO Lincoln Electric Holdings, Inc. | 1.14% | 1.27% | 1.54% | 1.21% | 1.61% | 1.50% | 1.70% | 1.96% | 2.08% | 1.57% | 1.71% | 2.29% |
MLI Mueller Industries, Inc. | 0.88% | 0.87% | 1.01% | 1.27% | 1.69% | 0.88% | 1.14% | 1.26% | 1.71% | 9.60% | 0.94% | 1.11% |
Financials
MLI vs. LECO - Financials Comparison
This section allows you to compare key financial metrics between Mueller Industries, Inc. and Lincoln Electric Holdings, Inc.. 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
MLI vs. LECO - Profitability Comparison
MLI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Mueller Industries, Inc. reported a gross profit of 0.00 and revenue of 1.19B. Therefore, the gross margin over that period was 0.0%.
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%.
MLI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Mueller Industries, Inc. reported an operating income of 312.23M and revenue of 1.19B, resulting in an operating margin of 26.2%.
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%.
MLI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Mueller Industries, Inc. reported a net income of 239.02M and revenue of 1.19B, resulting in a net margin of 20.0%.
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%.
Frequently Asked Questions
MLI and LECO have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MLI has higher volatility (10.01%) compared to LECO (9.17%). In terms of maximum drawdown, MLI dropped -61.72% vs LECO's -68.89%.
MLI currently has the higher Sharpe Ratio (2.67 vs 1.18), 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.
Find the right allocation for MLI and LECO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer