LENNOX INTERNATIONAL INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data LENNOX INTERNATIONAL INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	3,642	3,840	3,884	3,807	3,634	4,194	4,718	4,982	5,341	5,195
Cost of revenue	2,565	2,714	2,773	2,727	2,594	3,006	3,434	3,433	3,564	3,461
Gross profit	1,077	1,125	1,111	1,080	1,040	1,188	1,285	1,549	1,778	1,735
Research and development	64.6	73.6	72.2	69.9	66.8	76.1	80.3	94	93.6	103
Selling, general and administrative	621	638	608	586	556	599	627	706	731	681
Selling and marketing	41	45	42.5	43.7	26.5	26.9	32.4	39.5	49.7	34.4
Operating income	429	495	510	657	479	590	656	792	1,040	1,042
Interest expense	27	30.6	38.3	47.5	28.3	25	38.7	51.7	38.7	40.9
Interest income	1.1	1.5	0.8	1.1	1.4	1	1.1	4.3	5.4	5.5
Other non-operating income	0.3	0.1	-3.3	-2.3	-4.4	-4	-1.9	-0.1	-1.9	-3.4
Pre-tax income	403	464	468	508	445	560	616	739	999	997
Income tax	124	157	108	99.1	88.1	96.1	119	148	188	191
Income from continuing operations	279	307	360	409	357	464	497
Net income	278	306	359	409	356	464	497	591	811	806
EBITDA	488	559	576	728	551	663	734	878	1,136	1,154
EPS, basic	6.39	7.25	8.84	10.49	9.30	12.47	13.92	16.65	22.78	22.89
EPS, diluted	6.32	7.14	8.74	10.38	9.24	12.39	13.88	16.58	22.66	22.79
Shares, basic (weighted)	43.4	42.2	40.6	39	38.3	37.2	35.7	35.5	35.6	35.2
Shares, diluted (weighted)	44	42.8	41.1	39.4	38.6	37.5	35.8	35.7	35.8	35.4
Dividend per share	1.65	1.96	2.43	2.95	3.08	3.53	4.10	4.36	4.55	5.05

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	50.2	68.2	46.3	37.3	124	31	52.6	60.7	415	34.2
Short-term investments			0	2.9	5.1	5.5	8.5	8.4	7.2	0.5
Receivables	470	507	473	478	448	508	609	595	661	579
Inventory	419	484	510	544	439	511	753	842	853	1,153
Other current assets	67.4	78.4	60.6	58.8	70.9	120	73.9	70.7	96	138
Total current assets	1,006	1,137	1,089	1,121	1,088	1,175	1,497	1,576	2,032	1,904
Property, plant and equipment	361	398	408	445	464	515	549	720	800	887
Lease right-of-use assets			0	182	194	196	220	214	327	356
Goodwill	195	201	187	187	187	187	186	222	220	497
Intangible assets	7.3	8.6							45.1	273
Other non-current assets	61.2	61.5	65.9	79	86.1	87.4	88.5	157	120	133
Total assets	1,760	1,892	1,817	2,035	2,033	2,172	2,568	2,941	3,620	4,082
Accounts payable	361	349	433	372	340	402	427	375	490	438
Accrued liabilities	266	270	272	256	296	359	377	416	435	374
Deferred revenue	6.4	7.3	13	8.4	5.5	10.2	9.6	4.7	5	10.5
Short-term debt	200	32.6	301	322	9.9	11.3	711	12.1	315	18.3
Total current liabilities	889	655	1,009	1,003	701	827	1,596	1,015	1,313	1,192
Long-term debt	616	971	741	849	971	1,227	814	1,143	833	1,144
Lease liabilities			0	131	143	145	162	165	268	293
Other non-current liabilities	128	132	135	135	142	159	159	168	225	271
Total liabilities	1,722	1,841	1,967	2,205	2,050	2,441	2,771	2,548	2,658	2,919
Total debt	868	1,004	1,041	1,171	981	1,238	1,525	1,305	1,148	1,388
Paid-in capital	1,046	1,062	1,079	1,094	1,113	1,134	1,155	1,185	1,213	1,243
Retained earnings	1,353	1,576	1,855	2,149	2,386	2,719	3,071	3,614	4,263	4,891
Treasury stock	-2,167	-2,431	-2,896	-3,310	-3,420	-4,035	-4,339	-4,350	-4,421	-4,923
Other comprehensive income	-195	-157	-189	-104	-97.2	-88.1	-90.6	-56.9	-93.7	-48.5
Shareholders' equity	38	50.1	-150	-170	-17.1	-269	-203	393	962	1,163
Minority interests	0.4	0
Total equity	38	50.1	-150	-170	-17.1	-269	-203	285	850	1,163
Total liabilities and equity	1,760	1,892	1,817	2,035	2,033	2,172	2,568	2,941	3,620	4,082

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	278	306	359	409	356	464	497	591	811	806
Depreciation and amortization	58.1	64.6	66	71.1	72.6	72.4	77.9	86	95.1	113
Stock-based compensation	31.7	24.9	26.3	21.3	24.3	24.3	21.8	30.1	28.5	29.1
Deferred income tax	-6.1	43.3	25.7	19.7	7.5	-6.3	-14.7	-25.5	-24.6	20.1
Change in inventory	0.3	-56.4	-84.2	-63.9	110	-71	-249	9.7	-15.6	-228
Change in payables	40.1	-19.6	102	-56.1	-31.7	55.2	28.2	-29.2	115	-74.2
Cash from operations	374	325	496	396	612	516	302	736	946	758
Capital expenditures	-84.3	-98.3	-95.2	-106	-78.5	-107	-101	-250	-164	-119
Acquisitions						0	0	-94.9	1.8	-545
Purchases of investments		0	0	-2.9	-2.2	-0.5	-3.5
Cash from investing	-84.1	-98.1	30.5	15.9	-79.7	-106	-103	-320	-174	-656
Debt issued	350	0	0	0	600
Debt repaid	-58.8	-201	-3	-6.4	-10.8
Stock issued	2.6	3.1	3.3	3.3	3	3.3	3.6	3.9	4.5	4
Share buybacks	-300	-250	-450	-400	-100	-600	-300	0	-53.6	-482
Dividends paid	-69	-79.7	-93.9	-111	-118	-127	-142	-153	-160	-173
Cash from financing	-275	-218	-538	-423	-442	-499	-174	-406	-419	-466
Exchange rate effect	-3.9	9.3	-10.1	2.4	-4.3	-3.3	-3.6	-2.2	1.7	1.3
Net change in cash			-11.8	-11.4	90.9	-89.6	25.2	10.3	353	-364
Free cash flow	290	227	400	291	534	409	201	486	782	639
Interest paid	26.3	32.4	38.7	46.8	25.3	23.8	35.4	50.2	45.2	46.5
Income taxes paid	127	119	90	83	90.3	129	77.2	198	232	104

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to September 30, 2026; growth uses fiscal years. Valuation uses the share price of $347.93 on November 10, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	32.6%	Gross profit / revenue.
Operating margin	18.8%	Operating income / revenue.
EBITDA margin	21.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	17.6%	Pre-tax income / revenue.
Net margin	13.8%	Net income / revenue.
FCF margin	15.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	18.2%	Cash from operations / revenue.
Effective tax rate	21.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	56.9%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	16.0%	Net income / average total assets.
Return on invested capital (ROIC)	27.7%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	13.2%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.4%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.8%	Capital expenditures / revenue.
D&A / revenue	2.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-2.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	3.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	7.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-2.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	10.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	10.8%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	0.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	16.6%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	16.8%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	1.6%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	16.3%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	15.9%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-0.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	17.5%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	17.7%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	0.6%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	18.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	19.8%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-19.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	35.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	4.3%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-18.3%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	47.0%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	3.7%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	11.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	7.2%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	10.4%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	20.9%	Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y	12.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	16.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	15.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-1.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.21x	Current assets / current liabilities.
Quick ratio	0.50x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.02x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.23x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	34.6%	Total debt / total assets.
Liabilities / assets	71.9%	Total liabilities / total assets.
Net debt	$1.58B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.36x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	16.2x	Operating income / interest expense.
Working capital	$389.3M	Current assets - current liabilities.
Goodwill and intangibles / assets	19.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	$390.1M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.16x	Revenue / average total assets.
Fixed asset turnover	5.81x	Revenue / average property, plant and equipment.
Inventory turnover	3.12x	Cost of revenue / average inventory.
Days inventory	117 days	365 x average inventory / cost of revenue.
Receivables turnover	6.18x	Revenue / average receivables.
Days sales outstanding	59 days	365 x average receivables / revenue.
Days payables	55 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	121 days	Days inventory + days sales outstanding - days payables.
FCF conversion	111.4%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	15.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$21.55	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$157.91	Revenue / diluted weighted shares.
FCF per share	$24.22	Free cash flow / diluted weighted shares.
Operating cash flow per share	$28.68	Cash from operations / diluted weighted shares.
Book value per share	$38.17	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$11.31	Tangible book value / shares outstanding.
Cash per share	$1.32	(Cash + short-term investments) / shares outstanding.
Payout ratio	24.4%	Dividends paid / net income, when net income is positive.
Dividends / FCF	21.9%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	54.1%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$12.02B	Share price x shares outstanding.
Enterprise value	$13.60B	Market cap + total debt - cash - short-term investments.
P/E	16.0x	Market cap / net income. Only when net income is positive.
P/S	2.21x	Market cap / revenue.
P/B	9.13x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	30.8x	Market cap / tangible book value, when positive.
P/FCF	14.4x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	12.2x	Market cap / cash from operations, when positive.
EV/Sales	2.50x	Enterprise value / revenue.
EV/EBIT	13.3x	Enterprise value / operating income, when both are positive.
EV/EBITDA	11.8x	Enterprise value / EBITDA, when both are positive.
EV/FCF	16.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	6.9%	Free cash flow / market cap.
Earnings yield	6.2%	Net income / market cap (the inverse of P/E).
Dividend yield	1.5%	Dividends paid over the period / market cap.
Shareholder yield	5.3%	(Dividends paid + share buybacks) / market cap.
PEG	0.89x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was LENNOX INTERNATIONAL INC's revenue in fiscal 2025?

LENNOX INTERNATIONAL INC reported revenue of $5.20B for fiscal 2025, 2.7% lower than the year before.

Was LENNOX INTERNATIONAL INC profitable in fiscal 2025?

Yes. Net income was $805.8M, a net margin of 15.5%.

How much free cash flow did LENNOX INTERNATIONAL INC generate in fiscal 2025?

Cash from operations of $757.6M minus capital expenditures of $118.8M left free cash flow of $638.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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