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ALLE

Allegion plc

ALLE

Allegion plc • NYSE
$166.03 ▲ 0.22% (+0.36)
Market Cap $14.28 B
52w High $180.68
52w Low $116.57
Dividend Yield 2.01%
P/E 22.47
Volume 264.70K
Outstanding Shares 86.03M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.07B ▲ $256M ▲ $188.4M ▲ 17.604% ▲ $2.19 ▲ $272.2M ▲
Q2-2025 $1.022B ▲ $246.8M ▲ $159.7M ▲ 15.626% ▼ $1.86 ▲ $256.9M ▲
Q1-2025 $941.9M ▼ $226.1M ▼ $148.2M ▲ 15.734% ▲ $1.72 ▲ $229.9M ▲
Q4-2024 $945.6M ▼ $232.1M ▲ $144.1M ▼ 15.239% ▼ $1.66 ▼ $217.2M ▼
Q3-2024 $967.1M $217.1M $174.2M 18.013% $2 $253.2M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $302.7M ▼ $5.225B ▲ $3.279B ▲ $1.947B ▲
Q2-2025 $656.8M ▲ $4.915B ▲ $3.128B ▲ $1.786B ▲
Q1-2025 $494.5M ▼ $4.564B ▲ $2.957B ▼ $1.607B ▲
Q4-2024 $503.8M ▼ $4.488B ▼ $2.987B ▼ $1.501B ▼
Q3-2024 $878.9M $4.974B $3.403B $1.571B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $188.4M ▲ $242.391M ▲ $-593.386M ▼ $-17.473M ▼ $-354.1M ▼ $221.497M ▲
Q2-2025 $159.7M ▲ $221.823M ▲ $-57.787M ▼ $-11.728M ▲ $162.3M ▲ $202.626M ▲
Q1-2025 $148.2M ▲ $104.5M ▼ $-28M ▲ $-91.3M ▲ $-9.3M ▲ $83.4M ▼
Q4-2024 $144.1M ▼ $219M ▼ $-38.2M ▼ $-541.8M ▼ $-375.1M ▼ $194.9M ▼
Q3-2024 $174.2M $231.9M $-24.2M $-80.9M $131.4M $212M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Non Mechanical Product Revenues Domain
Non Mechanical Product Revenues Domain
 $110.00M ▲$60.00M ▼$60.00M ▲$70.00M ▲
Product
Product
 $830.00M ▲$880.00M ▲$960.00M ▲$1.00Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Allegion’s income statement shows a business that has grown steadily and become more profitable over the past five years. Sales have risen at a healthy pace, and profits have grown faster than sales, suggesting good cost control and operating leverage. Gross profit, operating profit, and net income have all improved over time, indicating a resilient core business that can turn revenue into earnings. There was a small dip in earnings in the middle of the period, but the overall trend is clearly upward, with earnings per share moving meaningfully higher. This points to a mature industrial company that is still finding ways to expand margins and lift profitability rather than relying only on revenue growth.

Balance Sheet

Balance Sheet The balance sheet looks reasonably solid, with a growing asset base and increasing shareholders’ equity over time. Allegion does use a fair amount of debt, and total borrowings have crept higher, especially as the company has grown and done more deals. However, equity has also risen, which helps support that leverage. Cash on hand is comfortable but not excessive, so the company is not sitting on idle funds yet appears to have a buffer for normal business needs. The main watchpoint is that Allegion remains somewhat reliant on debt financing, so changes in interest rates or credit conditions matter, but the overall financial structure appears balanced rather than stretched.

Cash Flow

Cash Flow Cash generation is a clear strength. Operating cash flow has grown steadily alongside earnings, and the company consistently converts a good share of its accounting profit into cash. Capital spending requirements are modest relative to cash generated, which leaves Allegion with solid and recurring free cash flow each year. This gives management flexibility to fund dividends, share repurchases, acquisitions, or debt reduction without straining the business. The pattern over several years suggests a cash-generative model with low capital intensity and relatively predictable inflows, a supportive backdrop for long-term financial stability.

Competitive Edge

Competitive Edge Allegion operates from a position of strength in security and access solutions, anchored by well-known brands like Schlage and others that are trusted by builders, institutions, and property managers. Its portfolio spans traditional mechanical locks through to advanced electronic access systems, letting it serve customers as they upgrade from basic hardware to connected solutions. A broad global distribution network and deep relationships with channels, architects, and specifiers make it hard for new entrants to displace Allegion once its products are built into a facility. The large installed base of hardware leads to repeat business for upgrades, replacements, and complementary products, which makes customer relationships “sticky.” Key competitive risks include ongoing technological disruption, strong peers in electronic security, and sensitivity to construction and renovation cycles, but the current moat looks robust and diversified across products, brands, and geographies.

Innovation and R&D

Innovation and R&D Innovation is a central part of Allegion’s strategy, with a clear push from purely mechanical locks toward electronic, connected, and software-driven security. The company is investing in mobile credentials, cloud-based access management, and integrations with digital wallets, as well as smarter building analytics and data platforms. Its venture arm and acquisitions support this shift by adding specialized software and IoT capabilities. Allegion also appears culturally committed to R&D through structured innovation programs. The opportunity is to grow higher-margin, recurring software and service revenue and deepen its role in smart buildings. The risk is execution: moving further into software, connectivity, and data increases complexity, integration demands, and cybersecurity exposure, and requires sustained investment to stay ahead of fast-moving tech competitors.

Summary

Overall, Allegion looks like a mature industrial business with the financial profile of a high-quality compounder: steady revenue growth, expanding profitability, solid cash generation, and a manageable, though not trivial, debt load. Its long-standing brands, broad product range, and entrenched distribution give it a durable position in the physical security market, while ongoing investment in electronic access, cloud platforms, and mobile credentials positions it for the industry’s digital transition. The main things to watch are how successfully it scales its software and recurring revenue offerings, how it manages leverage and interest costs, and how well it defends its moat as security becomes more connected and data-driven. If Allegion can sustain margin strength while executing on its digital roadmap, its current financial and competitive foundations give it room to continue compounding value over time, though it remains exposed to construction cycles and technology shifts in the broader security ecosystem.

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