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Screener / SEC EDGAR /CIK 0001069202 /10-K filed Feb 17, 2026, compared with Feb 11, 2025 /Numbers from the XBRL of the 10-Ks
Industrials peers:
CPRTVLTOLIIGNRCODFLSNA
NYSE Industrials · HVAC Equipment

Lennox International LII

LII quote by TradingView

We are a global leader in energy-efficient climate-control solutions. 10-K, Item 1

Employees
12,900
Headquarters
Richardson, TX
CEO
Alok Maskara
Next results
around Jan 27, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $5.2B through the costs to a net profit of $805.8M · income statement of the 10-K

20% operating margin
Revenue to Gross profit: $1.7BRevenue to Cost of revenue: $3.5BGross profit to Operating profit: $1.0BGross profit to Operating expenses: $693.3MOperating profit to Net profit: $805.8MOperating profit to Tax & other: $235.7MOperating expenses to R&D: $103.4MOperating expenses to Sales, admin & other: $589.9M Revenue: $5.2B REVENUE $5.2B −3% Y/Y Gross profit: $1.7B · 33% margin GROSS PROFIT $1.7B 33% margin · −2% Y/Y Cost of revenue: $3.5B · 67% of revenue COST OF REVENUE $3.5B 67% of revenue Operating profit: $1.0B · 20% margin OPERATING PROFIT $1.0B 20% margin · +0% Y/Y Operating expenses: $693.3M · 13% of revenue OPERATING EXPENSES $693.3M 13% of revenue Net profit: $805.8M · 16% margin NET PROFIT $805.8M 16% margin · −1% Y/Y Tax & other: $235.7M · 5% of revenue TAX & OTHER $235.7M 5% of revenue R&D: $103.4M · 2% of revenue R&D $103.4M 2% of revenue Sales, admin & other: $589.9M · 11% of revenue SALES, ADMIN & OTHER $589.9M 11% of revenue
Gross profit $1.7B 33% margin · −2% Y/Y
Operating profit $1.0B 20% margin · +0% Y/Y
Net profit $805.8M 16% margin · −1% Y/Y
The full income statement, year by year

LII among Industrials peers

Six ratios from the latest 10-K. Each corner is the share of 81 peers the company is above, not a score.

Compare
Revenue growth: -2.7%, above 9% of 81 peers (their median 4.9%) REVENUE GROWTH -2.7% · above 9% Gross margin: 32.6%, above 25% of 51 peers (their median 38.6%) GROSS MARGIN 32.6% · above 25% Operating margin: 18.8%, above 62% of 71 peers (their median 17.5%) OPERATING MARGIN 18.8% · above 62% Net margin: 13.8%, above 58% of 81 peers (their median 13.0%) NET MARGIN 13.8% · above 58% FCF margin: 15.3%, above 62% of 78 peers (their median 13.0%) FCF MARGIN 15.3% · above 62% Return on capital: 28.7%, above 92% of 65 peers (their median 13.8%) RETURN ON CAPITAL 28.7% · above 92%
LII Peer median Below the median

What changed

3 new risk paragraphs and 4 accounting facts worth reading about. 10-K filed Feb 17, 2026 against Feb 11, 2025.

Risk factors
3 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Cash from operations lower than net income
Cash from operations $757.6M vs net income $805.8M (FY ending Dec 31, 2025)
10-K · XBRL
Inventory growing faster than revenue
Inventory +35.1% vs revenue -2.7% (+37.9 pts)
10-K · XBRL
Auditor change
8-K item 4.01 (change in certifying accountant) filed Mar 13, 2025
10-K · XBRL
Critical audit matters changed
New this year: Product Warranty Liability (“As of December 31, 2025, the Company's product warranty liability was $167.2 million. As discussed in Note 2 to the consolidated financial statements, the Company accrues for product warranty liabilities based on the estimated future costs to repair or replace products under warranty.”). No longer listed: Evaluation of the product warranty liability
10-K · XBRL
Accounting checks
7 other checks clear, 4 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
3 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

4facts worth reading about the other 7 checks found nothing to note

  • Cash from operations lower than net income
    Cash from operations $757.6M vs net income $805.8M (FY ending Dec 31, 2025)
  • Inventory growing faster than revenue
    Inventory +35.1% vs revenue -2.7% (+37.9 pts)
  • Auditor change
    8-K item 4.01 (change in certifying accountant) filed Mar 13, 2025
  • Critical audit matters changed
    New this year: Product Warranty Liability (“As of December 31, 2025, the Company's product warranty liability was $167.2 million. As discussed in Note 2 to the consolidated financial statements, the Company accrues for product warranty liabilities based on the estimated future costs to repair or replace products under warranty.”). No longer listed: Evaluation of the product warranty liability
  • Receivables -12.4% vs revenue -2.7% (-9.7 pts)
6 more checks with nothing to note
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

3 paragraphs in Risk Factors that were not in the 10-K filed Feb 11, 2025. Quoted as filed.

All 3 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 11, 2025 10-K, ITEM 1A
    Lennox operates a direct-to-dealer network, meaning we manufacture products and sell them directly to select, independent home service companies. We rely on our direct sales channel for a substantial portion of our revenue. Our direct-to-dealer network also creates a large installed base of HVACR equipment, and creates opportunities for…

New risk paragraphs, against peers

Latest 10-K of each, Industrials companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$4.7B$5.0B$5.3B$5.2B
Net income$497.1M$591.2M$811.1M$805.8M
Operating cash flow$302.3M$736.2M$945.7M$757.6M
Free cash flow$201.2M$486.0M$782.1M$638.8M

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$5.2B ▼ 2.7% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

3 filings in the last 30 days · SEC EDGAR

All filings

About the company

Lennox International, Richardson, TX · from the 10-K filed Feb 17, 2026

We are a global leader in energy-efficient climate-control solutions. We design, manufacture and market a broad range of products for the heating, ventilation, air conditioning and refrigeration (“HVACR”) markets. We have leveraged our expertise to become an industry leader known for innovation, quality and reliability. Our products and services are sold through multiple distribution channels under various brand names. The Company was founded in 1895, in Marshalltown, Iowa, by Dave Lennox, the owner of a machine repair business for railroads. He designed and patented a riveted steel coal-fired furnace, which led to numerous advancements in heating, cooling and climate control solutions.

Headquarters
Richardson, TX
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Oct 28, 2026
Incorporated in
DE

Employees, at the top of the page: "As of December 31, 2025, we employed approximately 12,900 people, primarily in the U" (10-K). Address and exchange: SEC's company file.

Email alerts

Sources

The 10-K filed Feb 17, 2026 (open at SEC), compared with the 10-K filed Feb 11, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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