Analyst Ratings

Date	Action	Analyst	Rating	Target
May-04-26	Reiterated	BMO Capital	Outperform	$78 → $81
May-04-26	Reiterated	Mizuho Securities		$74 → $76
May-04-26	Reiterated	Scotiabank	Sector Perform	$64 → $74
Apr-21-26	Reiterated	Wells Fargo	Overweight	$75 → $76
Apr-17-26	Reiterated	BMO Capital	Outperform	$78 → $79
Apr-15-26	Reiterated	Barclays	Equal Weight	$67 → $74
Feb-23-26	Reiterated	Mizuho Securities		$70 → $73
Feb-23-26	Reiterated	BMO Capital	Outperform	$71 → $78
Feb-22-26	Reiterated	Wells Fargo	Overweight	$71 → $75
Jan-21-26	Upgrade	Barclays	Underweight → Equal Weight	$65 → $67

Financial Statements

DataTimeframe

Line Item (USD, M)	TTM —	FY 2025 12/31/2025	FY 2024 12/31/2024	FY 2023 12/31/2023
Total Revenue	4,419	4,362	3,981	Upgrade your experience to unlock full historical data
Cost of Goods Sold Incl. D&A	2,740	2,613	2,201
Gross Profit	1,678	1,749	1,780
Selling, General and Administrative Excl. Other	0	0	0
Research and Development	0	0	0
Other Operating Expense	661	724	894
Operating Income	1,017	1,025	886
Interest Expense	535	512	449
Unusual Expense	—	—	—
Non-Operating Income (Expense)	-177	-148	-139
Net Income Before Taxes	659	661	576
Income Taxes	-162	-149	-114
Consolidated Net Income	821	810	690
Net Income From Continuing Operations	821	810	690
Net Income	821	810	690
EPS (Recurring)	3.19	3.15	2.69
EPS (Basic, Before Extraordinaries)	3.19	3.15	2.69
EPS (Diluted)	3.19	3.14	2.69
EBITDA	2,051	2,019	1,797
Other After Tax Adjustments	—	—	—
Stock Option Compensation Expense	—	—	—
Price To Earnings Ratio	22.88	20.70	—
Price To Sales Ratio	4.25	3.83	—
Gross Margin	37.97	40.10	44.71
Operating Margin	23.01	23.50	22.26
Net Margin	18.58	18.57	17.33
Shares Outstanding	257	257	257
Market Capitalization	18,761	16,708	—
Operating Lease Expense	—	—	—

Insider Trading

Insider	Relationship	Date	Transaction	Cost	#Shares	Value ($)	#Shares Total	SEC Form 4
Sundararajan Raja	Executive Vice President	Feb 20 '24	Buy	48.26	500	24,128	10,556	Feb 20 12:00 AM
Barton Lisa M	President and CEO	Feb 20 '24	Buy	48.56	1,100	53,416	36,444	Feb 20 12:00 AM
Falotico Nancy Joy	director:	Jun 09 '22	Buy	61.00	1,200	73,200	1,210	Jun 13 12:00 AM
GALLEGOS JAMES H	EVP, Gen Cnsl and Corp Sec	Feb 28 '22	Sale	58.04	10,000	580,420	57,448	Mar 01 12:00 AM
Kouba Terry L	Senior Vice President	Dec 31 '21	Option Exercise	0.00	3,198	0	28,838	Jan 04 12:00 AM
LARSEN JOHN O	President, Chair and CEO	Dec 31 '21	Option Exercise	0.00	32,886	0	117,113	Jan 04 12:00 AM
Bilitz Benjamin M	CAO and Controller	Dec 31 '21	Option Exercise	0.00	2,304	0	10,238	Jan 04 12:00 AM
GALLEGOS JAMES H	EVP, Gen Cnsl and Corp Sec	Dec 31 '21	Option Exercise	0.00	10,454	0	52,884	Jan 04 12:00 AM
de Leon David A	Senior Vice President	Dec 31 '21	Option Exercise	0.00	3,198	0	19,385	Jan 04 12:00 AM
DURIAN ROBERT J	EVP and CFO	Dec 31 '21	Option Exercise	0.00	12,800	0	66,672	Jan 04 12:00 AM
Kouba Terry L	Senior Vice President	Dec 31 '20	Option Exercise	0.00	3,184	0	23,641	Jan 05 12:00 AM
LARSEN JOHN O	President, Chairman and CEO	Dec 31 '20	Option Exercise	0.00	11,582	0	62,795	Jan 05 12:00 AM
Bilitz Benjamin M	CAO and Controller	Dec 31 '20	Option Exercise	0.00	2,626	0	5,242	Jan 05 12:00 AM
DURIAN ROBERT J	EVP and CFO	Dec 31 '20	Option Exercise	0.00	14,404	0	42,301	Jan 05 12:00 AM
de Leon David A	Senior Vice President	Dec 31 '20	Option Exercise	0.00	3,066	0	11,809	Jan 05 12:00 AM


Market Cap	18.81B	Forward P/E	19.82	EPS next Y	3.68	Insider Trans	0.00%	Shs Float	-	Perf Month	0.00%


Enterprise Value	30.53B	PEG	2.28	EPS next Q	0.67	Inst Own	-	Short Float	-	Perf Quarter	2.36%


Income	823.78M	P/S	4.26	EPS this Y	7.22%	Inst Trans	-	Short Ratio	-	Perf Half Y	11.86%


Sales	4.42B	P/B	2.53	EPS next Y	7.71%	ROA	3.31%	Short Interest	-	Perf YTD	12.29%


Book/sh	28.74	P/C	14.55	EPS next 5Y	8.43%	ROE	11.24%	52W High	75.76 -3.64%	Perf Year	21.48%


Cash/sh	0.45	P/FCF	-	EPS past 3/5Y	-	ROIC	4.26%	52W Low	59.82 22.03%	Perf 3Y	-


Dividend Est.	2.08 (2.86%)	EV/EBITDA	14.89	Sales past 3/5Y	1.23% 5.01%	Gross Margin	37.97%	Volatility	1.26% 1.22%	Perf 5Y	-


Dividend TTM	2.08 (2.86%)	EV/Sales	6.91	EPS Y/Y TTM	19.70%	Oper. Margin	23.01%	ATR (14)	1.31	Perf 10Y	-


Dividend Ex-Date	Apr 30, 2026	Quick Ratio	0.53	Sales Y/Y TTM	11.00%	Profit Margin	18.58%	RSI (14)	52.68	Recom	2.38


Dividend Gr. 3/5Y	5.88% 5.96%	Current Ratio	0.69	EPS Q/Q	-1.20%	SMA20	0.69%	Beta	-0.03	Target Price	76.20


Payout	64.31%	Debt/Eq	1.60	Sales Q/Q	4.96%	SMA50	0.72%	Rel Volume	1.56	Prev Close	72.82


Employees	2,998	LT Debt/Eq	1.52	Earnings	Aug 06	SMA200	5.95%	Avg Volume	2.40M	Price	73.00


IPO Date	Jan 05, 1988	Option/Short	Yes / Yes	EPS/Sales Surpr.	3.40% 10.04%	Net Debt/EBITDA	5.72	Volume	3,761,656	Change	0.25%

LNT