LENNOX INTERNATIONAL INC

LII · Industrials · $18.9B mkt cap · FY2025 filings · Wide moat

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Wide moat

The four filters

Pricing power47

Median gross margin 29.0% over 10y, very stable.

Returns on capital100

Median ROIC 43.7%, above the 9% hurdle in 100% of years.

Balance-sheet safety84

Net debt/EBITDA 1.2x, interest coverage 25x.

Capital discipline100

Owner earnings +12.6%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

78% above value

Owner earnings (normalized): $591.2M
Est. intrinsic value / share: $305.77
Recent price: $543.97
Discount to value: 78% above value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell LII. See the disclaimer.