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Makes door locks, security hardware and access-control systems (Schlage, Von Duprin, LCN) for commercial and residential buildings.
Makes door locks, security hardware and access-control systems (Schlage, Von Duprin, LCN) for commercial and residential buildings.
Products are specified by architects and door-hardware consultants for each building, then bought by contractors through distributors, so approval at design stage drives sales; after installation, replacements and upgrades follow. It was spun out of Ingersoll Rand in 2013, and the Americas are its main market.
Moat: narrow (brand, distribution, installed base). Schlage brand recognition and code-compliance expertise create sticky specification with architects.
Headquarters: Dublin, Ireland · Founded: 2013 · Employees: 13,300
Size Allegion (ALLE) is a United States Industrials company (Tools & Hardware) with a market value of $15.6B, the 581st largest of 3,117 United States companies the cockpit tracks. Shares closed at $185.39 on 6 Nov 2026.
Performance Over six months the shares gained 38.5%, against +14.1% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd highest of 8 in its peer set.
Growth Revenue grew 10.3% over the last twelve months (peer median +4.1%); the operating margin is 21.5% (peer median 15.1%).
Valuation It trades at 18.7× forward earnings against a peer median of 18.3× (4th most expensive of 8).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 10.0 points above its cost of capital (8.6% WACC).
Credit Allegion has 4 bonds outstanding ($1.80B), rated BBB by the agencies and trading like BBB+ at a weighted spread of 81 bp.
Short interest Short interest is 3.1% of the free float (15 Oct 2026).
Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $4.39B | $4.07B | $3.77B | $3.65B | $3.27B |
| Revenue growth | — | +8% | +3% | +12% | — |
| Gross profit | $1.98B | $1.84B | $1.67B | $1.58B | $1.33B |
| EBITDA | $1.08B | $1.00B | $908M | $846M | $718M |
| Net income | $691M | $644M | $598M | $540M | $458M |
| Free cash flow | $734M | $686M | $583M | $516M | $396M |
| Capital expenditure | $104M | $98.1M | $92.1M | $84.2M | $64.0M |
| Total debt | $2.22B | $2.15B | $2.15B | $2.17B | $2.20B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Allegion ALLE | $15.6B | +39% | +10% | 22% | 18.7× | 7.6% |
| ASSA ABLOY ASSA-B.ST | $44.8B | +15% | 0% | 17% | 24.4× | 9.0% |
| dormakaba DOKA.SW | $3.47B | +28% | -3% | 13% | 21.2× | -9.3% |
| Spectrum Brands SPB | $1.99B | +6% | +1% | 9% | 17.1× | -2.5% |
| Honeywell Technologies HON | $69.8B | -1% | -17% | 18% | 23.2× | 4.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ALLE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +23.6% | +8.5% | 2nd highest of 8 |
| 6-month return | +38.5% | +14.1% | 3rd highest of 8 |
| Distance from 52-week high | -5.1% | -12.5% | 2nd highest of 8 |
| Revenue growth (TTM) | +10.3% | +4.1% | 2nd highest of 8 |
| Operating margin | 21.5% | 15.1% | 3rd highest of 8 |
| Forward P/E | 18.7× | 18.3× | 4th most expensive of 8 |
| Growth the price implies (Req g, 7 yrs) | 7.6% | 6.8% | 4th most demanding of 8 |
| Growth delivered (Del g) | +8.4% | +9.3% | 4th lowest of 8 |
| Hurdle (Req g minus delivered) | -0.8 pp | -2.7 pp | 3rd most demanding of 8 |
| ROIC minus cost of capital | +10.0 pp | +3.5 pp | 2nd highest of 8 |
| EV / EBITDA | 16.1× | 13.2× | most expensive of 6 |
| Net debt / EBITDA | 1.7× | -0.2× | 3rd most indebted of 6 |
| Bond spread | 81 bp | 85 bp | 2nd tightest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Allegion ALLE | United States | $15.6B | +39% | +10% | 22% | 18.7× | 7.6% | +8.4% |
| Stanley Black & Decker SWK | United States | $17.3B | +43% | 0% | 10% | 18.3× | 6.8% | +3.0% |
| Snap-on SNA | United States | $18.9B | -1% | +3% | 25% | 18.3× | 2.7% | +5.5% |
| Makita 6586.T | Japan | $8.78B | -9% | +9% | 14% | 16.6× | 0.6% | +5.0% |
| Techtronic Ind 0669.HK | Hong Kong | $33.1B | +14% | +4% | 9% | 22.8× | 8.1% | +9.3% |
| Codan CDA.AX | Australia | $6.88B | +41% | +30% | 28% | 36.4× | 26.4% | +14.9% |
| ASSA ABLOY ASSA-B.ST | Sweden | $44.8B | +15% | 0% | 17% | 24.4× | 9.0% | +11.7% |
| Hangzhou GreatStar Industrial 002444.SZ | China | $5.33B | -13% | +6% | 15% | 13.0× | 5.8% | +11.5% |
Allegion has 4 bonds outstanding with $1.80B face value. The agencies rate it BBB; its bonds trade like BBB+. Weighted yield 5.47%, a spread of 81 bp over government bonds.