A Business at a Glance
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Allegion plc
ALLE
$13.3B
Mkt Cap
$153.36
-0.78%
Allegion plc (ALLE) has a current P/E ratio of 20.6, compared to its historical median P/E of 22.3. The stock is currently considered Fair based on its historical valuation range.
Allegion plc (ALLE) has a 5-year average return on invested capital (ROIC) of 21.5%. This indicates strong capital allocation and a potential competitive advantage.
Allegion plc (ALLE) has a market capitalization of $13.2B. It is classified as a large-cap stock.
Yes, Allegion plc (ALLE) pays a dividend with a trailing twelve-month yield of 1.36%. The company also returns capital through share buybacks, with a buyback yield of 0.61%.
Based on historical P/E analysis, Allegion plc (ALLE) appears fair. The current P/E of 20.6 is 8% below its historical median of 22.3. The estimated fair value CAGR (P/E method) is 10.3%.
Allegion plc (ALLE) operates in the Services-Detective, Guard & Armored Car Services industry, within the Industrials sector.
Allegion plc (ALLE) reported annual revenue of $4.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
Allegion plc is a leading global provider of security and access control products and solutions serving commercial, institutional, and residential end-markets across North America, Europe, Asia, and Oceania. The company operates through an extensive portfolio of over 40 market-leading brands organized into five product categories: door controls and exit devices (Briton, CISA, LCN, Stanley Access Technologies, Von Duprin); doors, glass and door systems (Falcon, Glynn-Johnson, Ives, Republic, Steelcraft, TGP, Trimco); electronic security and access control systems including workforce management (Bricard, CISA, ELATEC, Interflex, Schlage, SimonsVoss); locks and key systems (AXA, Bricard, CISA, Falcon, Gainsborough, Schlage, SimonsVoss); and services and software including SaaS offerings for access control and workforce management (Interflex, Yonomi, Zentra). The business model combines hardware sales with recurring services and software subscriptions, leveraging a consultative approach to deliver customized solutions to architects, designers, security consultants, contractors, homebuilders, and end-users. Distribution occurs through established channels to institutional, commercial, and residential customers, with competitive advantages rooted in pioneering brand heritage (many brands invented their product categories over 100 years ago), extensive product breadth enabling integrated system solutions, deep industry expertise, and global manufacturing and supply chain capabilities. The company faces competition from large multinational firms including Assa Abloy AB and dormakaba Group, as well as regional and private-label competitors, with success dependent on brand reputation, product innovation, integration with popular technology platforms, quality, delivery capabilities, and service.
【Electronics driving long-term growth】 Management expects electronics and software solutions to remain a significant long-term growth driver for Allegion in 2026 and beyond, with customer orders and backlog supporting continued recovery and expansion in this higher-growth segment. The company anticipates that non-residential markets in the Americas will continue to support organic growth through 2026, though residential demand is expected to remain soft, and international markets are projected to see modest growth primarily from electronics businesses. Management is focused on balanced and disciplined capital deployment oriented toward profitable growth and shareholder returns, including strategic acquisitions that drive synergies and accretive returns, while maintaining pricing discipline to offset inflationary pressures and tariff headwinds on a dollar basis. The company expects to achieve margin expansion through a combination of pricing and productivity gains in excess of inflation and investment, with execution improving in international operations following ERP implementation challenges in the first quarter of 2026.
| Metric | Target | Period |
|---|---|---|
| Organic revenue growth | 2%-4% | FY2026 |
| Adjusted earnings per share | $8.70-$8.90 | FY2026 |
| Total reported revenue growth | 6%-8% | FY2026 |
| Available cash flow conversion | approximately 85%-95% of adjusted net income | FY2026 |
Organic revenue growth (FY2026): “we are affirming our outlook for organic revenue growth of 2%-4%”
Adjusted earnings per share (FY2026): “adjusted earnings per share of $8.70-$8.90”
Total reported revenue growth (FY2026): “we are raising our reported revenue outlook to 6%-8% to include the DCI acquisition”
Available cash flow conversion (FY2026): “For 2026, we still anticipate our ACF conversion will be approximately 85%-95% of adjusted net income”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 4.2B | 4.1B | 3.8B | 3.7B | 3.3B | 2.9B |
| Net Income | 634M | 644M | 598M | 540M | 458M | 483M |
| EPS | $7.37 | $7.44 | $6.82 | $6.12 | $5.19 | $5.34 |
| Free Cash Flow | 683M | 686M | 583M | 516M | 396M | 443M |
| ROIC | 14.7% | 19.2% | 20.7% | 21.4% | 21.3% | 25.0% |
| Gross Margin | - | 45.2% | 44.2% | 43.3% | 40.4% | 42.0% |
| Debt/Equity | 1.44 | 1.14 | 1.71 | 1.65 | 2.34 | 2.34 |
| Dividends/Share | $2.08 | $2.04 | $1.92 | $1.80 | $1.64 | $1.44 |
| Operating Income | 858M | 860M | 781M | 708M | 586M | 530M |
| Operating Margin | 20.6% | 21.1% | 20.7% | 19.4% | 17.9% | 18.5% |
| ROE | 30.2% | 36.1% | 42.4% | 47.8% | 53.9% | 60.8% |
| Shares Outstanding | 86M | 87M | 88M | 88M | 88M | 90M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 2.1B | 2.1B | 2.2B | 2.4B | 2.7B | 2.9B | 2.7B | 2.9B | 3.3B | 3.7B | 3.8B | 4.1B | 4.2B |
| Gross Margin | 40.3% | 42.0% | 44.2% | 44.6% | 43.0% | 43.9% | 43.3% | 42.0% | 40.4% | 43.3% | 44.2% | 45.2% | N/A |
| R&D | 43M | 45M | 47M | 48M | 54M | 55M | 54M | 73M | 75M | 102M | 113M | 132M | 132M |
| SG&A | 527M | 510M | 555M | 580M | 648M | 681M | 636M | 675M | 736M | 866M | 888M | 979M | 1.0B |
| EBIT | 326M | 359M | 434M | 493M | 526M | 565M | 404M | 530M | 586M | 708M | 781M | 860M | 858M |
| Op. Margin | 15.4% | 17.3% | 19.4% | 20.5% | 19.2% | 19.8% | 14.8% | 18.5% | 17.9% | 19.4% | 20.7% | 21.1% | 20.6% |
| Net Income | 175M | 154M | 229M | 273M | 435M | 402M | 314M | 483M | 458M | 540M | 598M | 644M | 634M |
| Net Margin | 8.3% | 7.4% | 10.2% | 11.3% | 15.9% | 14.1% | 11.6% | 16.8% | 14.0% | 14.8% | 15.8% | 15.8% | 15.2% |
| Non-Recurring | 7.1M | -88M | -81M | 12M | 4.9M | -14M | 113M | 3.8M | -4.3M | 13M | 8.1M | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 22.0% | 23.0% | 26.3% | 26.0% | 29.9% | 25.7% | 18.8% | 25.0% | 21.3% | 21.4% | 20.7% | 19.2% | 14.7% |
| ROE | -494.2% | 601.2% | 329.9% | 106.2% | 82.6% | 57.1% | 39.6% | 60.8% | 53.9% | 47.8% | 42.4% | 36.1% | 30.2% |
| ROA | 8.7% | 7.2% | 10.2% | 11.4% | 16.3% | 13.9% | 10.4% | 15.8% | 13.0% | 13.0% | 13.6% | 13.3% | 11.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 256M | 257M | 378M | 347M | 458M | 488M | 490M | 489M | 460M | 601M | 675M | 784M | 781M |
| Free Cash Flow | 204M | 222M | 335M | 298M | 409M | 423M | 443M | 443M | 396M | 516M | 583M | 686M | 683M |
| Owner Earnings | 199M | 194M | 300M | 269M | 356M | 390M | 392M | 386M | 340M | 465M | 531M | 624M | 616M |
| CapEx | 52M | 35M | 43M | 49M | 49M | 66M | 47M | 45M | 64M | 84M | 92M | 98M | 98M |
| Maint. CapEx | 44M | 49M | 61M | 62M | 82M | 78M | 78M | 79M | 95M | 109M | 116M | 130M | 135M |
| Growth CapEx | 7.3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 44M | 49M | 61M | 62M | 82M | 78M | 78M | 79M | 95M | 109M | 116M | 130M | 135M |
| CapEx/OCF | 20.1% | 13.7% | 11.3% | 14.2% | 10.7% | 13.4% | 9.6% | 9.3% | 13.9% | 14.0% | 13.6% | 12.5% | 12.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 30M | 38M | 46M | 61M | 79M | 101M | 117M | 129M | 144M | 159M | 167M | 175M | 179M |
| Dividend Yield | 0.7% | 0.7% | 0.8% | 0.9% | 1.1% | 1.2% | 1.3% | 1.2% | 1.6% | 1.7% | 1.5% | 1.4% | 1.4% |
| Share Buybacks | 50M | 30M | 85M | 60M | 67M | 226M | 209M | 413M | 61M | 60M | 220M | 80M | 81M |
| Buyback Yield | 1.1% | 0.5% | 1.5% | 0.9% | 1.0% | 2.1% | 2.1% | 3.7% | 0.7% | 0.5% | 1.9% | 0.6% | 0.6% |
| Stock-Based Comp | 13M | 15M | 17M | 16M | 20M | 20M | 21M | 23M | 25M | 26M | 28M | 30M | 30M |
| Debt Repayment | 1.0B | 441M | 47M | 32M | 36M | 418M | 200K | 239M | 656M | 82M | 13M | 26M | 26M |
| Balance Sheet | |||||||||||||
| Net Debt | 952M | 1.3B | 1.1B | 1.0B | 1.2B | 1.2B | 1.0B | 1.4B | 1.9B | 1.7B | 2.1B | 2.0B | 2.7B |
| Cash & Equiv. | 291M | 200M | 312M | 466M | 284M | 355M | 480M | 398M | 288M | 468M | 504M | 356M | 309M |
| Long-Term Debt | 1.2B | 1.5B | 1.4B | 1.4B | 1.4B | 1.4B | 1.4B | 1.4B | 2.1B | 1.6B | 2.0B | 2.0B | 2.0B |
| Debt/Equity | -258.88 | 60.23 | 12.77 | 3.68 | 2.22 | 1.99 | 1.84 | 2.34 | 2.34 | 1.65 | 1.71 | 1.14 | 1.44 |
| Interest Coverage | 6.1 | 6.8 | 6.8 | 4.7 | 9.7 | 10.1 | 7.9 | 10.6 | 7.7 | 7.6 | 7.7 | 8.5 | 8.5 |
| Equity | -4.8M | 26M | 113M | 402M | 651M | 757M | 829M | 759M | 942M | 1.3B | 1.5B | 2.1B | 2.1B |
| Total Assets | 2.0B | 2.3B | 2.2B | 2.5B | 2.8B | 3.0B | 3.1B | 3.1B | 4.0B | 4.3B | 4.5B | 5.2B | 5.3B |
| Total Liabilities | 2.0B | 2.2B | 2.1B | 2.1B | 2.2B | 2.2B | 2.2B | 2.3B | 3.0B | 3.0B | 3.0B | 3.2B | 3.2B |
| Intangibles | 125M | 372M | 357M | 394M | 547M | 511M | 487M | 448M | 609M | 573M | 569M | 826M | 837M |
| Retained Earnings | 142M | 232M | 377M | 544M | 874M | 975M | 986M | 953M | 1.2B | 1.6B | 1.8B | 2.2B | 2.3B |
| Working Capital | 469M | 288M | 400M | 572M | 411M | 495M | 624M | 516M | 511M | 281M | 725M | 636M | 677M |
| Current Assets | 1.0B | 735M | 829M | 1.0B | 932M | 1.0B | 1.1B | 1.1B | 1.2B | 1.4B | 1.4B | 1.4B | 1.4B |
| Current Liabilities | 533M | 447M | 430M | 461M | 521M | 507M | 522M | 601M | 704M | 1.1B | 697M | 755M | 746M |
| Per Share Data | |||||||||||||
| EPS | 1.80 | 1.59 | 2.36 | 2.85 | 4.54 | 4.26 | 3.39 | 5.34 | 5.19 | 6.12 | 6.82 | 7.44 | 7.37 |
| Owner EPS | 2.04 | 2.00 | 3.09 | 2.81 | 3.72 | 4.13 | 4.22 | 4.27 | 3.85 | 5.27 | 6.06 | 7.21 | 7.16 |
| Book Value | -0.05 | 0.26 | 1.17 | 4.19 | 6.80 | 8.03 | 8.95 | 8.39 | 10.67 | 14.93 | 17.13 | 23.89 | 24.45 |
| Cash Flow/Share | 2.63 | 2.66 | 3.89 | 3.62 | 4.78 | 5.18 | 5.29 | 5.40 | 5.21 | 6.80 | 7.70 | 9.06 | 8.95 |
| Dividends/Share | 0.32 | 0.40 | 0.48 | 0.64 | 0.84 | 1.08 | 1.28 | 1.44 | 1.64 | 1.80 | 1.92 | 2.04 | 2.08 |
| Shares Out. | 97.3M | 96.8M | 97.1M | 95.9M | 95.8M | 94.3M | 92.7M | 90.4M | 88.2M | 88.3M | 87.6M | 86.5M | 85.9M |
| Valuation | |||||||||||||
| P/E Ratio | 27.3 | 37.1 | 24.6 | 25.2 | 15.8 | 27.0 | 31.5 | 23.2 | 19.3 | 20.2 | 19.1 | 21.5 | 20.8 |
| P/FCF | 23.4 | 25.7 | 16.8 | 23.1 | 16.8 | 25.6 | 22.4 | 25.2 | 22.3 | 21.1 | 19.6 | 20.2 | 19.3 |
| EV/EBIT | 16.9 | 19.2 | 15.3 | 15.2 | 14.8 | 20.4 | 25.7 | 22.3 | 17.7 | 17.5 | 15.9 | 17.6 | 18.5 |
| Price/Book | N/A | 223.1 | 49.8 | 17.2 | 10.5 | 14.3 | 11.9 | 14.7 | 9.4 | 8.3 | 7.6 | 6.7 | 6.3 |
| Price/Sales | 2.1 | 2.5 | 2.6 | 2.8 | 2.7 | 3.1 | 3.4 | 3.9 | 2.8 | 2.6 | 3.0 | 3.2 | 3.2 |
| FCF Yield | 4.3% | 3.9% | 5.9% | 4.3% | 6.0% | 3.9% | 4.5% | 4.0% | 4.5% | 4.7% | 5.1% | 4.9% | 5.2% |
| Market Cap | 4.8B | 5.7B | 5.6B | 6.9B | 6.9B | 10.8B | 9.9B | 11.2B | 8.8B | 10.9B | 11.4B | 13.9B | 13.2B |
| Avg. Price | 45.54 | 53.89 | 59.02 | 70.39 | 75.86 | 92.53 | 99.23 | 122.28 | 102.49 | 106.23 | 128.76 | 148.74 | 153.36 |
| Year-End Price | 49.19 | 59.00 | 58.08 | 71.89 | 71.68 | 114.89 | 106.89 | 123.68 | 100.01 | 123.60 | 130.45 | 160.18 | 153.36 |
Allegion plc passes 5 of 9 quality checks, suggesting mixed fundamentals.
Allegion plc trades at 20.6x trailing earnings, compared to its 15-year median P/E of 22.3x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 19.4x vs a median of 21.7x. The company's 5-year average ROIC is 21.5% with a gross margin of 43.0%. Total shareholder yield (dividends + buybacks) is 2.0%. At current prices, the estimated annualized return to fair value is +8.0%.
Allegion plc (ALLE) has a net profit margin of 15.8%. This is a healthy margin.
Allegion plc (ALLE) generated $686 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Allegion plc (ALLE) has a debt-to-equity ratio of 1.14. This indicates moderate leverage.
Allegion plc (ALLE) reported earnings per share (EPS) of $7.44 in its most recent fiscal year.
Allegion plc (ALLE) has a return on equity (ROE) of 36.1%. This indicates the company generates strong returns for shareholders.
Allegion plc (ALLE) has a 5-year average gross margin of 43.0%. This indicates decent pricing power.
The Ledger Terminal provides 14 years of financial data for Allegion plc (ALLE), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Allegion plc (ALLE) has a book value per share of $23.89, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects electronics and software solutions to remain a significant long-term growth driver for Allegion in 2026 and beyond, with customer orders and backlog supporting continued recovery and expansion in this higher-growth segment. The company anticipates that non-residential markets in the Americas will continue to support organic growth through 2026, though residential demand is expected to remain soft, and international markets are projected to see modest growth primarily from electronics businesses. Management is focused on balanced and disciplined capital deployment oriented toward profitable growth and shareholder returns, including strategic acquisitions that drive synergies and accretive returns, while maintaining pricing discipline to offset inflationary pressures and tariff headwinds on a dollar basis. The company expects to achieve margin expansion through a combination of pricing and productivity gains in excess of inflation and investment, with execution improving in international operations following ERP implementation challenges in the first quarter of 2026.
Based on recent SEC filings and earnings calls, Allegion plc (ALLE) has provided the following forward guidance: Organic revenue growth: 2%-4% (FY2026); Adjusted earnings per share: $8.70-$8.90 (FY2026); Total reported revenue growth: 6%-8% (FY2026); Available cash flow conversion: approximately 85%-95% of adjusted net income (FY2026).