Lincoln Electric (LECO) vs Onto Innovation (ONTO)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Onto Innovation (ONTO) has outperformed Lincoln Electric (LECO) over the past year, gaining 110.4% versus a gain of 7.0%. Over five years, ONTO leads with a +305.4% price change compared with +86.4% for LECO. Onto Innovation is the larger company by market cap ($14.36 billion vs $14.10 billion), about 1.0 times the size, while Lincoln Electric is growing revenue faster (+5.6% vs +1.8%).
On valuation, Lincoln Electric trades at a lower forward P/E (20.7x vs 25.0x for Onto Innovation). Lincoln Electric pays a dividend yielding 1.21%, while Onto Innovation does not currently pay one. Onto Innovation converts more of its revenue into profit, with a net margin of 13.6% versus 12.3%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | LECO | ONTO |
|---|---|---|
| Share price | $258.78 | $292.67 |
| Market cap | $14.10B | $14.36B |
| 1-day change | -1.67% | -3.85% |
| YTD return | +7.99% | +85.40% |
| 1-year return | +6.96% | +110.37% |
| 5-year return | +86.43% | +305.36% |
| P/E ratio (TTM) | 25.85 | 110.03 |
| Forward P/E | 20.66 | 25.02 |
| EPS (TTM) | $10.01 | $2.66 |
| Dividend yield | 1.21% | 0.00% |
| Annual dividend | $3.12 | $0.00 |
| Revenue (latest FY) | $4.23B | $1.01B |
| Revenue growth (YoY) | +5.60% | +1.82% |
| Net income (latest FY) | $520.53M | $136.76M |
| Gross margin | 36.25% | 49.72% |
| Operating margin | 16.96% | 13.22% |
| Net margin | 12.30% | 13.60% |
| 52-week high | $310.00 | $386.46 |
| 52-week low | $216.22 | $118.97 |
| Distance from 52-week high | -16.52% | -24.27% |
| Analyst consensus | buy | strong_buy |
| Avg. price target upside | +17.83% | +32.40% |
| Average volume | 420.42K | 991.18K |
| Shares outstanding | 54.51M | 49.07M |
| Employees | 12,000 | 1,867 |
| Sector | Industrials | Industrials |
| Industry | Industrial Machinery/Components | Industrial Machinery/Components |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- ONTO has outperformed LECO by 103.4 percentage points over the past year.
- Onto Innovation trades at a higher earnings multiple (110.0x vs 25.9x trailing P/E).
- Lincoln Electric offers a meaningfully higher dividend yield (1.21% vs 0.00%).
About Lincoln Electric
LECO stock →Lincoln Electric Holdings, Inc., through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products in the United States and internationally. It operates in three segments: Americas Welding, International Welding, and The Harris Products Group.
Industrials · Industrial Machinery/Components · 12,000 employees
About Onto Innovation
ONTO stock →Onto Innovation Inc. engages in the design, development, manufacture, and support of process control tools that perform macro-defect inspection and metrology in the United States, Taiwan, South Korea, Japan, China, Southeast Asia, Asia, and Europe.
Industrials · Industrial Machinery/Components · 1,867 employees
LECO vs ONTO FAQ
Which is bigger, Lincoln Electric or Onto Innovation?
Onto Innovation (ONTO) is larger, with a market capitalization of $14.36B compared with $14.10B for Lincoln Electric (LECO).
Which stock has performed better over the past year, LECO or ONTO?
ONTO returned +110.37% over the past 12 months, compared with +6.96% for LECO (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, LECO or ONTO?
LECO has the lower trailing P/E at 25.9, versus 110.0 for ONTO. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Lincoln Electric or Onto Innovation?
Lincoln Electric pays a dividend yielding 1.21%, while Onto Innovation does not currently pay a regular dividend.
Are Lincoln Electric and Onto Innovation in the same industry?
Yes. Both are classified in the Industrial Machinery/Components industry within the Industrials sector.