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Lennox International

LII NYSE Building Products Financials FY2016–FY2025

Lennox International's revenue fell 2.7% to $5.2 billion in fiscal 2025. Its operating margin was 20.1%, up from 19.5% a year earlier. Free cash flow was $639 million, down 18.3%. It paid out $655 million in dividends and buybacks, 103% of free cash flow. The diluted share count fell 1.1%.

Last close · Oct 23, 2026

$376.01

0.7%
Value it Compare
Revenue Total sales reported in the income statement.
$5.2B
2.7% vs prior year
Operating margin Operating income as a share of revenue.
20.1%
0.6 pts
Net income Profit after all expenses, interest and tax.
$806M
0.7%
Free cash flow Cash from operations minus capital spending.
$639M
18.3%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
40.1%
10.9 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$13.2B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
16.7x
On $22.51 EPS (TTM)

What Lennox International does

No business description yet.

Legal name
LENNOX INTERNATIONAL INC
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001069202-26-000028
0001069202

Revenue and margins

Lennox International had $5.2B of revenue in fiscal 2025, down 2.7% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 15.3% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $639M in fiscal 2025, 12.3% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Lennox International returned $655M to shareholders in fiscal 2025, 103% of free cash flow. The diluted share count fell 1.1%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Lennox International yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$1.4B and divides by 35.4M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 16.7x · peers 20.4x · sector 26.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably Lennox International can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $36.5M$61.1M$69.1M$422M$34.7M
Debt incl. finance leases $1.2B$1.5B$1.3B$1.1B$1.4B
Net debt / EBITDA 1.8x2.0x1.4x0.6x1.2x
Debt / equity ——3.3x1.2x1.2x
Interest coverage 23.6x17.0x15.3x26.9x25.5x
Current ratio 1.4x0.9x1.6x1.6x1.6x
Quick ratio 0.8x0.5x0.7x0.9x0.6x
Total assets $2.2B$2.6B$2.9B$3.6B$4.1B
Total liabilities $2.4B$2.8B$2.5B$2.7B$2.9B
Shareholders' equity −$269M−$203M$393M$962M$1.2B
Net debt (− = net cash) $1.2B$1.5B$1.2B$725M$1.4B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$1.4M

3 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
May 6, 2026 Chris KoselVP-Corp Controller and CAO Sold 971 $544.80 $0.5M Form 4
Feb 25, 2026 Shane D WallDirector Sold 100 $540.01 $0.1M Form 4
Feb 4, 2026 Chris KoselVP-Corp Controller and CAO Sold 254 $536.50 $0.1M Form 4
Feb 4, 2026 Todd J TeskeDirector Sold 700 $533.45 $0.4M Form 4
Nov 11, 2025 Todd J TeskeDirector Sold 600 $491.85 $0.3M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✕
Cash from operations exceeds net income ✓ ✓ ✕
Debt fell relative to assets ✓ ✓ ✕
Current ratio rose ✓ ✕ ✓
Share count didn't rise ✓ ✕ ✓
Gross margin rose ✓ ✓ ✓
Revenue rose relative to assets ✕ ✕ ✕
F-score 8 / 96 / 95 / 9
Accruals ratio −5.3%−4.1%1.3%
Altman Z'' 7.237.457.18

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Lennox International LII $13.2B −2.7% 20.1% 12.3% 40.1% 16.7x 5
Fortune Brands Innovations FBIN $5.1B −3.2% 11.6% 8.2% 7.7% 34.7x 6 Compare →
UFP Industries UFPI $4.4B −5.0% 5.8% 4.4% 11.8% 18.6x 5 Compare →
Allegion ALLE $15.2B 7.8% 21.1% 16.9% 21.5% 22.3x 8 Compare →
A. O. Smith AOS $8.5B 0.3% 19.0% 14.3% 30.7% 17.1x 7 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $3.6B $3.8B $3.9B $3.8B $3.6B $4.2B $4.7B $5.0B $5.3B $5.2B
Gross profit $1.1B $1.1B $1.1B $1.1B $1.0B $1.2B $1.3B $1.5B $1.8B $1.7B
Research and development $64.6M $73.6M $72.2M $69.9M $66.8M $76.1M $80.3M $94.0M $93.6M $103M
Operating income $429M $495M $510M $657M $479M $590M $656M $792M $1.0B $1.0B
Interest expense $27.0M $30.6M $38.3M $47.5M $28.3M $25.0M $38.7M $51.7M $38.7M $40.9M
Pretax income $403M $464M $468M $508M $445M $560M $616M $739M $999M $997M
Income tax $124M $157M $108M $99.1M $88.1M $96.1M $119M $148M $188M $191M
Net income $278M $306M $359M $409M $356M $464M $497M $591M $811M $806M
Diluted EPS $6.32 $7.14 $8.74 $10.38 $9.24 $12.39 $13.88 $16.58 $22.66 $22.79
Diluted shares 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B
Cash flow
Cash from operations $374M $325M $496M $396M $612M $516M $302M $736M $946M $758M
Capital expenditure $84.3M $98.3M $95.2M $106M $78.5M $107M $101M $250M $164M $119M
Free cash flow $290M $227M $400M $291M $534M $409M $201M $486M $782M $639M
Depreciation and amortization $58.1M $64.6M $66.0M $71.1M $72.6M $72.4M $77.9M $86.0M $95.1M $113M
Stock-based compensation $31.7M $24.9M $26.3M $21.3M $24.3M $24.3M $21.8M $30.1M $28.5M $29.1M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $94.9M $1.8M $545M
Share buybacks $300M $250M $450M $400M $100M $600M $300M $0.0M $53.6M $482M
Dividends paid $69.0M $79.7M $93.9M $111M $118M $127M $142M $153M $160M $173M
Dividends and buybacks $369M $330M $544M $511M $218M $727M $442M $153M $214M $655M
Balance sheet
Cash and short-term investments $50.2M $68.2M $46.3M $40.2M $129M $36.5M $61.1M $69.1M $422M $34.7M
Total debt $868M $1.0B $1.0B $1.2B $981M $1.2B $1.5B $1.3B $1.1B $1.4B
Finance lease liabilities $0.0M $0.0M $0.0M $33.7M $39.4M $40.3M $39.5M $44.8M $54.4M $68.9M
Current assets $1.0B $1.1B $1.1B $1.1B $1.1B $1.2B $1.5B $1.6B $2.0B $1.9B
Current liabilities $889M $655M $1.0B $1.0B $701M $827M $1.6B $1.0B $1.3B $1.2B
Inventory $419M $484M $510M $544M $439M $511M $753M $842M $853M $1.2B
Property and equipment, net $361M $398M $408M $445M $464M $515M $549M $720M $800M $887M
Total assets $1.8B $1.9B $1.8B $2.0B $2.0B $2.2B $2.6B $2.9B $3.6B $4.1B
Total liabilities $1.7B $1.8B $2.0B $2.2B $2.0B $2.4B $2.8B $2.5B $2.7B $2.9B
Shareholders' equity $38.0M $50.1M −$150M −$170M −$17.1M −$269M −$203M $393M $962M $1.2B
Margins
Gross margin 29.6% 29.3% 28.6% 28.4% 28.6% 28.3% 27.2% 31.1% 33.3% 33.4%
Operating margin 11.8% 12.9% 13.1% 17.3% 13.2% 14.1% 13.9% 15.9% 19.5% 20.1%
EBITDA margin 13.4% 14.6% 14.8% 19.1% 15.2% 15.8% 15.6% 17.6% 21.3% 22.2%
Net margin 7.6% 8.0% 9.2% 10.7% 9.8% 11.1% 10.5% 11.9% 15.2% 15.5%
FCF margin 8.0% 5.9% 10.3% 7.6% 14.7% 9.7% 4.3% 9.8% 14.6% 12.3%
Returns
Return on capital 35.8% 35.5% 42.9% 58.6% 42.8% 55.4% 48.3% 43.8% 50.9% 40.1%
Return on capital employed 49.8% 46.9% 49.9% 71.4% 40.5% 44.1% 56.7% 54.6% 49.2% 40.1%
Return on equity — — — — — — — — 119.7% 75.8%
Return on assets 16.2% 16.7% 19.4% 21.2% 17.5% 22.1% 21.0% 21.5% 24.7% 20.9%
Growth
Revenue growth 5.0% 5.4% 1.2% −2.0% −4.6% 15.4% 12.5% 5.6% 7.2% −2.7%
Net income growth 48.9% 10.0% 17.4% 13.8% −12.8% 30.2% 7.1% 18.9% 37.2% −0.7%
EPS growth 54.5% 13.0% 22.4% 18.8% −11.0% 34.1% 12.0% 19.5% 36.7% 0.6%
FCF growth 2.1% −21.7% 76.5% −27.4% 83.8% −23.5% −50.8% 141.6% 60.9% −18.3%
Share count change −3.5% −2.7% −4.0% −4.1% −2.0% −2.9% −4.5% −0.3% 0.3% −1.1%
Financial health
Net debt / EBITDA 1.7x 1.7x 1.7x 1.6x 1.6x 1.8x 2.0x 1.4x 0.6x 1.2x
Debt / equity — — — — — — — 3.3x 1.2x 1.2x
Interest coverage 15.9x 16.2x 13.3x 13.8x 16.9x 23.6x 17.0x 15.3x 26.9x 25.5x
Current ratio 1.1x 1.7x 1.1x 1.1x 1.6x 1.4x 0.9x 1.6x 1.6x 1.6x
Quick ratio 0.7x 1.0x 0.6x 0.6x 0.9x 0.8x 0.5x 0.7x 0.9x 0.6x
Capital allocation
Capex / revenue 2.3% 2.6% 2.5% 2.8% 2.2% 2.6% 2.1% 5.0% 3.1% 2.3%
Stock comp / revenue 0.9% 0.7% 0.7% 0.6% 0.7% 0.6% 0.5% 0.6% 0.5% 0.6%
Payouts / FCF 127.4% 145.4% 135.9% 175.7% 40.9% 177.8% 219.7% 31.6% 27.4% 102.6%
Quality scores
Piotroski F-score 7.0 7.0 5.0 6.0 7.0 6.0 5.0 8.0 6.0 5.0
Altman Z'' 4.6 6.2 5.4 5.9 6.7 6.8 5.3 7.2 7.5 7.2
Accruals ratio −5.6% −1.1% −7.4% 0.7% −12.6% −2.5% 8.2% −5.3% −4.1% 1.3%

Source: SEC EDGAR XBRL filings (CIK 0001069202). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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