Lennox International Inc. (LII) Key Metrics
LII valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $12.36B
- Enterprise value
- $14.84B
- P/E (TTM)
- 15.8 10-yr median 25.6
- Forward P/E
- 14.2
- PEG ratio
- 0.94
- Price / sales
- 2.3 10-yr median 2.7
- Price / book
- 9.9 10-yr median 56.0
- EV / EBITDA
- 12.7 10-yr median 17.5
- Dividend yield
- 1.52% $5.44 a year
- Beta
- 1.16
LII key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsLII valuation Price multiples at each fiscal year-end price.
LII returns How much profit the business earns on the capital it uses.
LII per-share figures Results divided by the shares outstanding at year-end.
LII financial health Debt, liquidity and how easily interest is covered.
LII efficiency & capital use Working capital cycle and where the cash goes.
LII valuation history
LII returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
LII debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
LII cash returned to shareholders
LII price vs earnings per share
LII key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $17.04B | $21.81B | $15.98B | $8.56B | $12.16B | $10.58B | $9.61B | $9.00B | $8.91B | $6.74B |
| Enterprise value | $19.07B | $22.88B | $17.43B | $10.25B | $13.56B | $11.62B | $10.93B | $9.99B | $9.85B | $7.56B |
| P/E ratio | 21.2 | 27.0 | 27.1 | 17.2 | 26.2 | 29.7 | 23.5 | 25.1 | 29.2 | 24.3 |
| Price / sales | 3.3 | 4.1 | 3.2 | 1.8 | 2.9 | 2.9 | 2.5 | 2.3 | 2.3 | 1.9 |
| Price / book | 14.7 | 25.7 | 56.0 | — | — | — | — | — | 177.9 | 179.2 |
| Price / free cash flow | 26.7 | 27.9 | 32.9 | 42.6 | 29.8 | 19.8 | 33.1 | 22.5 | 39.3 | 24.9 |
| Price / operating cash flow | 22.5 | 23.1 | 21.7 | 28.3 | 23.6 | 17.3 | 24.3 | 18.2 | 27.4 | 19.0 |
| EV / sales | 3.7 | 4.3 | 3.5 | 2.2 | 3.2 | 3.2 | 2.9 | 2.6 | 2.6 | 2.1 |
| EV / EBITDA | 16.5 | 20.2 | 22.1 | 14.0 | 20.6 | 21.2 | 17.4 | 17.4 | 17.6 | 15.5 |
| EV / free cash flow | 29.9 | 29.3 | 35.9 | 51.0 | 33.2 | 21.8 | 37.6 | 25.0 | 43.4 | 28.0 |
| Earnings yield | 4.7% | 3.7% | 3.7% | 5.8% | 3.8% | 3.4% | 4.3% | 4.0% | 3.4% | 4.1% |
| Free cash flow yield | 3.7% | 3.6% | 3.0% | 2.3% | 3.4% | 5.0% | 3.0% | 4.5% | 2.5% | 4.0% |
| Dividend yield | 1.0% | 0.7% | 1.0% | 1.7% | 1.0% | 1.1% | 1.1% | 1.0% | 0.9% | 1.0% |
| Shareholder yield (dividends + buybacks) | 4.0% | 1.1% | 1.1% | 5.3% | 6.2% | 2.2% | 5.6% | 6.3% | 4.0% | 6.0% |
| Share price at fiscal year-end | $485.58 | $609.30 | $447.52 | $239.23 | $324.36 | $273.97 | $243.97 | $218.86 | $208.26 | $153.17 |
| Per share | ||||||||||
| Revenue per share | $148.01 | $149.20 | $139.55 | $131.80 | $111.84 | $94.15 | $96.63 | $94.50 | $89.71 | $82.76 |
| Earnings per share | $22.96 | $22.54 | $16.53 | $13.89 | $12.37 | $9.23 | $10.37 | $8.73 | $7.14 | $6.31 |
| Operating cash flow per share | $21.58 | $26.42 | $20.62 | $8.44 | $13.75 | $15.87 | $10.05 | $12.06 | $7.60 | $8.06 |
| Free cash flow per share | $18.20 | $21.85 | $13.61 | $5.62 | $10.90 | $13.83 | $7.37 | $9.74 | $5.30 | $6.14 |
| Cash per share | $0.99 | $11.80 | $1.94 | $1.71 | $0.97 | $3.34 | $1.02 | $1.13 | $1.59 | $1.14 |
| Book value per share | $33.14 | $23.75 | $7.99 | −$5.67 | −$7.17 | −$0.44 | −$4.32 | −$3.64 | $1.17 | $0.85 |
| Tangible book value per share | $11.19 | $16.34 | $1.77 | −$10.88 | −$12.15 | −$5.28 | −$9.05 | −$8.18 | −$3.71 | −$3.75 |
| Dividends per share | $4.93 | $4.48 | $4.30 | $3.97 | $3.37 | $3.06 | $2.80 | $2.28 | $1.86 | $1.57 |
| Capex per share | $3.38 | $4.57 | $7.01 | $2.82 | $2.85 | $2.03 | $2.68 | $2.32 | $2.30 | $1.92 |
| Debt per share | $58.81 | $41.58 | $42.78 | $48.88 | $38.34 | $30.53 | $34.39 | $25.34 | $23.46 | $19.73 |
| Shares outstanding | 35.1M | 35.8M | 35.7M | 35.8M | 37.5M | 38.6M | 39.4M | 41.1M | 42.8M | 44.0M |
| Change in shares outstanding | −2.0% | +0.3% | −0.3% | −4.5% | −2.8% | −2.0% | −4.1% | −4.0% | −2.7% | −3.5% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 80.0% | 142.1% | — | — | — | — | — | — | 697.1% | 400.3% |
| Return on invested capital (ROIC) | 33.0% | 45.9% | 39.2% | 40.5% | 45.2% | 35.3% | 53.1% | 42.9% | 35.5% | 35.8% |
| Return on assets (ROA) | 21.3% | 25.7% | 22.0% | 21.0% | 22.1% | 17.5% | 21.2% | 19.4% | 16.7% | 16.1% |
| Return on tangible assets | 24.3% | 25.2% | 22.9% | 20.9% | 23.4% | 19.3% | 22.1% | 22.0% | 18.2% | 17.8% |
| Free cash flow margin | 12.3% | 14.6% | 9.8% | 4.3% | 9.7% | 14.7% | 7.6% | 10.3% | 5.9% | 7.4% |
| Income quality (OCF / net income) | 0.94 | 1.17 | 1.25 | 0.61 | 1.11 | 1.72 | 0.97 | 1.38 | 1.06 | 1.28 |
| Financial health | ||||||||||
| Total debt | $2.06B | $1.49B | $1.53B | $1.75B | $1.44B | $1.18B | $1.35B | $1.04B | $1.00B | $868.2M |
| Cash & short-term investments | $34.7M | $422.3M | $69.1M | $61.1M | $36.5M | $129.0M | $40.2M | $46.3M | $68.2M | $50.2M |
| Net debt | $2.03B | $1.07B | $1.46B | $1.69B | $1.40B | $1.05B | $1.31B | $995.0M | $935.8M | $818.0M |
| Debt / equity | 1.77 | 1.75 | 5.35 | — | — | — | — | — | 20.04 | 23.09 |
| Debt / assets | 0.51 | 0.43 | 0.55 | 0.68 | 0.66 | 0.58 | 0.67 | 0.57 | 0.53 | 0.49 |
| Net debt / EBITDA | 1.76 | 0.94 | 1.85 | 2.30 | 2.13 | 1.92 | 2.09 | 1.74 | 1.67 | 1.67 |
| Current ratio | 1.60 | 1.43 | 1.41 | 0.94 | 1.42 | 1.55 | 1.12 | 1.08 | 1.74 | 1.13 |
| Quick ratio | 0.63 | 0.90 | 0.72 | 0.47 | 0.80 | 0.92 | 0.58 | 0.57 | 1.00 | 0.66 |
| Interest coverage | 25.5 | 23.5 | 15.3 | 16.5 | 22.7 | 16.1 | 13.5 | 13.0 | 15.4 | 15.3 |
| Working capital | $712.0M | $570.9M | $418.9M | −$99.2M | $348.3M | $386.3M | $118.2M | $80.9M | $482.8M | $117.3M |
| Invested capital | $3.19B | $1.92B | $1.74B | $1.49B | $1.13B | $1.03B | $1.14B | $845.4M | $985.9M | $855.6M |
| Tangible asset value | $392.9M | $585.1M | $63.2M | −$389.4M | −$455.6M | −$204.0M | −$356.7M | −$336.2M | −$159.0M | −$164.4M |
| Net current asset value | −$1.01B | −$737.4M | −$1.08B | −$1.27B | −$1.27B | −$962.0M | −$1.08B | −$877.4M | −$704.1M | −$716.4M |
| Graham number | $130.83 | $109.74 | $54.52 | — | — | — | — | — | $13.72 | $11.02 |
| Graham net-net per share | −$53.38 | −$37.74 | −$46.17 | −$52.42 | −$47.14 | −$35.35 | −$38.95 | −$31.90 | −$26.90 | −$25.24 |
| Capital allocation | ||||||||||
| Dividends paid | $173.0M | $160.3M | $153.4M | $142.0M | $126.5M | $118.1M | $110.5M | $93.9M | $79.7M | $69.0M |
| Share buybacks (net) | $501.5M | $75.2M | $14.9M | $308.3M | $622.1M | $117.9M | $424.0M | $477.1M | $276.1M | $333.3M |
| Dividend payout ratio | 21.5% | 19.9% | 26.0% | 28.6% | 27.3% | 33.1% | 27.0% | 26.2% | 26.1% | 24.8% |
| Dividends + buybacks / free cash flow | 105.6% | 30.1% | 34.6% | 223.8% | 183.2% | 44.2% | 184.0% | 142.6% | 156.9% | 148.9% |
| Capex / revenue | 2.3% | 3.1% | 5.0% | 2.1% | 2.5% | 2.2% | 2.8% | 2.5% | 2.6% | 2.3% |
| Capex / operating cash flow | 15.7% | 17.3% | 34.0% | 33.4% | 20.7% | 12.8% | 26.7% | 19.2% | 30.2% | 23.8% |
| Capex / depreciation | 1.06 | 1.72 | 2.91 | 1.30 | 1.48 | 1.08 | 1.49 | 1.44 | 1.52 | 1.45 |
| Stock-based compensation / revenue | 0.6% | 0.5% | 0.6% | 0.5% | 0.6% | 0.7% | 0.6% | 0.7% | 0.6% | 0.9% |
| R&D / revenue | 2.0% | — | 1.9% | 1.7% | 1.8% | 1.8% | 1.8% | 1.9% | 1.9% | 1.8% |
| SG&A / revenue | 12.0% | 13.7% | 13.7% | 13.3% | 14.3% | 15.3% | 15.4% | 15.7% | 16.6% | 17.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 43.6 | 42.9 | 44.1 | 43.2 | 41.6 | 46.5 | 45.6 | 46.0 | 46.4 | 44.7 |
| Days of inventory on hand | 98.0 | 71.8 | 77.2 | 67.2 | 57.7 | 69.2 | 70.5 | 65.4 | 60.7 | 59.6 |
| Days payables outstanding | 48.9 | 44.2 | 42.6 | 44.1 | 45.1 | 50.1 | 53.9 | 51.5 | 47.7 | 48.5 |
| Cash conversion cycle (days) | 92.6 | 70.5 | 78.6 | 66.3 | 54.2 | 65.6 | 62.2 | 60.0 | 59.4 | 55.8 |
| Receivables turnover | 8.38 | 8.51 | 8.28 | 8.45 | 8.77 | 7.85 | 8.01 | 7.93 | 7.87 | 8.16 |
| Payables turnover | 7.46 | 8.26 | 8.56 | 8.28 | 8.10 | 7.28 | 6.77 | 7.09 | 7.65 | 7.53 |
| Inventory turnover | 3.73 | 5.08 | 4.73 | 5.43 | 6.33 | 5.28 | 5.18 | 5.58 | 6.01 | 6.13 |
| Asset turnover | 1.38 | 1.70 | 1.86 | 1.99 | 2.00 | 1.79 | 1.98 | 2.09 | 2.10 | 2.12 |
| Average receivables | $620.0M | $627.9M | $601.5M | $558.4M | $478.3M | $463.1M | $475.2M | $489.6M | $488.1M | $446.3M |
| Average payables | $464.0M | $432.4M | $401.0M | $414.7M | $371.2M | $356.4M | $402.9M | $390.9M | $354.9M | $340.6M |
| Average inventory | $928.7M | $702.0M | $726.0M | $632.0M | $475.1M | $491.8M | $527.0M | $497.0M | $451.4M | $418.6M |
| Intangibles / total assets | 18.9% | 7.6% | 7.9% | 7.3% | 8.6% | 9.2% | 9.2% | 10.3% | 11.1% | 11.5% |
Computed from LII's annual financial statements (latest annual report filed February 17, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
LII valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Lennox traded at 21.2 times earnings, against a 10-year median of 25.6. Based on the latest twelve months, the trailing P/E is 15.8 and the forward P/E is 14.2. Lennox earned a return on equity of 80.0% and a return on invested capital of 33.0% in fiscal 2025. It ended the year with $2.1 billion of debt and $34.7 million in cash and short-term investments, net debt of $2.0 billion. It returned $674.5 million to shareholders: $173.0 million in dividends and $501.5 million in share buybacks, 106% of free cash flow. The share count fell 20.2% from 44.0M to 35.1M over 9 years.
See the LII income statement, the LII chart for price history, or the LII stock overview for the latest quote and news.
LII key metrics FAQ
What is Lennox's P/E ratio?
Lennox's trailing P/E ratio is 15.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 14.2. At the end of fiscal 2025 it was 21.2, compared with a 10-year median of 25.6.
What is Lennox's EV/EBITDA?
Lennox's enterprise value was 16.5 times EBITDA at the end of fiscal 2025 (enterprise value $19.1 billion, EBITDA $1.2 billion); the current EV/EBITDA is 12.7.
What is Lennox's return on equity?
Lennox's return on equity (ROE) was 80.0% in fiscal 2025: net income of $805.8 million on average shareholders' equity of $1.0 billion. ROE is high partly because years of buybacks have reduced equity on the balance sheet.
What is Lennox's ROIC?
Lennox's return on invested capital was 33.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Lennox have?
Lennox had total debt of $2.1 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.77 and $2.0 billion of net debt (1.76 times EBITDA).
What is Lennox's dividend yield?
Lennox's forward dividend yield is 1.52%. Lennox paid $173.0 million in dividends in fiscal 2025 ($4.93 per share), a payout ratio of 21.5%.
Does Lennox buy back its shares?
Yes. Lennox spent $501.5 million on net share repurchases in fiscal 2025 Shares outstanding changed −2.0% over the year, to 35.1M..
What is Lennox's free cash flow yield?
Lennox generated $638.8 million of free cash flow in fiscal 2025, a free cash flow yield of 3.7% on its market value at year-end ($17.0 billion).
What is Lennox's current ratio?
Lennox's current ratio was 1.60 at the end of fiscal 2025: current assets were 1.60 times current liabilities.