# Tools & Accessories — company-by-company sector analysis

> Tools & Accessories: The Timken Company owns the largest revenue base; RBC Bearings Incorporated has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-07-28. Not investment advice.

## Bottom line

Tools & Accessories has outperformed S&P 500 by 14.9% over 52 weeks and 4.6% over 13 weeks. 7 of 9 covered companies beat the S&P 500 on Mansfield relative strength, while 3 of 9 beat the sector itself. The Timken Company leads with revenue of $4,672 million, based on 5 of 9 comparable companies through Mar 2026.

### Is the Tools & Accessories sector outperforming S&P 500?

Tools & Accessories has outperformed S&P 500 by 14.9% over 52 weeks and 4.6% over 13 weeks. 7 of 9 covered companies beat the S&P 500 on Mansfield relative strength, while 3 of 9 beat the sector itself.

### Which Tools & Accessories company is largest by revenue?

The Timken Company leads with revenue of $4,672 million, based on 5 of 9 comparable companies through Mar 2026.

### Which Tools & Accessories company is growing fastest?

RBC Bearings Incorporated has the fastest current revenue growth at 14.4%, across 5 of 9 comparable companies.

### Which Tools & Accessories company has the strongest 4-Factor Sector Score?

The Timken Company ranks first at 62.6/100 with 66.6% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Tools & Accessories company reports the most CAPEX?

Stanley Black & Decker, Inc. reports the largest latest CAPEX at $59 million, with 9 of 9 companies comparable.

### Which Tools & Accessories company has the least gross debt?

The Eastern Company has the lowest comparable gross debt at $53 million. Stanley Black & Decker, Inc. has the highest at $6,501 million.

### Which Tools & Accessories company has the lowest comparable PEG?

The Toro Company has the lowest comparable Guarded PEG at 0.34, among 5 of 9 companies that pass the metric’s comparability rules.

### How much history does this Tools & Accessories comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Sep 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

## Sector relative strength

Tools & Accessories has outperformed S&P 500 by 14.9% over the last 52 weeks. Over 13 weeks the gap is a lead of 4.6%. 7 of 9 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. The Timken Company is the strongest against the sector itself at +22.1%.

13-week sector return versus NIFTY 500: 4.6%
52-week sector return versus NIFTY 500: 15%
Stocks leading NIFTY: 7/9
Stocks leading sector: 3/9

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 9
Combined market value: ₹92.4K Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. The Timken Company (TKR): 63/100 — Mixed-positive evidence; evidence 67%
   - Growth & earnings 16.3/35 | Capital efficiency 12.5/25 | Valuation 14.4/20 | Relative strength 19.4/20
   - Exact sum: 16.3 + 12.5 + 14.4 + 19.4 = 62.6
   - Decision use: Price leads the evidence: RS versus the benchmark is 31.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
2. Kennametal Inc. (KMT): 60/100 — Mixed-positive evidence; evidence 67%
   - Growth & earnings 23.8/35 | Capital efficiency 13.2/25 | Valuation 14.5/20 | Relative strength 8.5/20
   - Exact sum: 23.8 + 13.2 + 14.5 + 8.5 = 60
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3. Snap-on Incorporated (SNA): 57/100 — Thin evidence · provisional; evidence 57%
   - Growth & earnings 15.8/35 | Capital efficiency 17.4/25 | Valuation 11.1/20 | Relative strength 12.7/20
   - Exact sum: 15.8 + 17.4 + 11.1 + 12.7 = 57
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
4. Stanley Black & Decker, Inc. (SWK): 51/100 — Thin evidence · provisional; evidence 54%
   - Growth & earnings 15.4/35 | Capital efficiency 7.4/25 | Valuation 9.3/20 | Relative strength 18.6/20
   - Exact sum: 15.4 + 7.4 + 9.3 + 18.6 = 50.7
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
5. RBC Bearings Incorporated (RBC): 48/100 — Mixed-negative evidence; evidence 67%
   - Growth & earnings 20.1/35 | Capital efficiency 13.3/25 | Valuation 3.5/20 | Relative strength 11.1/20
   - Exact sum: 20.1 + 13.3 + 3.5 + 11.1 = 48
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6. The Toro Company (TTC): 48/100 — Mixed-negative evidence; evidence 82%
   - Growth & earnings 14.1/35 | Capital efficiency 12.9/25 | Valuation 14.6/20 | Relative strength 5.9/20
   - Exact sum: 14.1 + 12.9 + 14.6 + 5.9 = 47.5
   - Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
7. Lincoln Electric Holdings, Inc. (LECO): 46/100 — Mixed-negative evidence; evidence 67%
   - Growth & earnings 19.6/35 | Capital efficiency 12.9/25 | Valuation 10.1/20 | Relative strength 3.1/20
   - Exact sum: 19.6 + 12.9 + 10.1 + 3.1 = 45.7
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8. The Eastern Company (EML): 43/100 — Thin evidence · provisional; evidence 51%
   - Growth & earnings 13.4/35 | Capital efficiency 10.2/25 | Valuation 10.8/20 | Relative strength 8.7/20
   - Exact sum: 13.4 + 10.2 + 10.8 + 8.7 = 43.1
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
9. Hillman Solutions Corp. (HLMN): 34/100 — Thin evidence · provisional; evidence 39%
   - Growth & earnings 14.9/35 | Capital efficiency 7.0/25 | Valuation 8.9/20 | Relative strength 3.0/20
   - Exact sum: 14.9 + 7 + 8.9 + 3 = 33.8
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

## Revenue Scale & Growth Durability

What the numbers say: The Timken Company is the scale leader at $4,672 million, 0.3% ahead of The Toro Company. RBC Bearings Incorporated's growth is 14.4% from a $1,871 million base, with 17 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: The Timken Company is the scale benchmark; RBC Bearings Incorporated is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: The Timken Company's growth falls below RBC Bearings Incorporated's for two consecutive comparable reports while operating margin also compresses.

Evidence: The Timken Company · $4,672 million | 0.3% versus #2 · The Toro Company | 3/8 recent comparable periods | 5/9 companies · 154 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. The Timken Company (TKR): ₹4.7K Cr — older report
2. The Toro Company (TTC): ₹4.7K Cr
3. Lincoln Electric Holdings, Inc. (LECO): ₹4.4K Cr — older report
4. Kennametal Inc. (KMT): ₹2.1K Cr — older report
5. RBC Bearings Incorporated (RBC): ₹1.9K Cr — older report

### Revenue growth — fastest growers
1. RBC Bearings Incorporated (RBC): 14% — older report
2. Lincoln Electric Holdings, Inc. (LECO): 7.9% — older report
3. Kennametal Inc. (KMT): 7.2% — older report
4. The Timken Company (TKR): 3.3% — older report
5. The Toro Company (TTC): 2.5%

### 20-quarter Revenue history
- SNA: Dec 2021 ₹1.0K Cr | Mar 2022 ₹1.1K Cr | Jun 2022 ₹1.1K Cr | Sep 2022 ₹1.1K Cr | Dec 2022 ₹1.1K Cr | Mar 2023 — | Jun 2023 ₹1.2K Cr | Sep 2023 ₹1.2K Cr | Dec 2023 ₹1.2K Cr | Mar 2024 ₹1.2K Cr | Jun 2024 ₹1.2K Cr | Sep 2024 ₹1.1K Cr | Dec 2024 ₹1.2K Cr | Mar 2025 ₹1.1K Cr | Jun 2025 ₹1.2K Cr | Sep 2025 ₹1.2K Cr | Dec 2025 — | Mar 2026 ₹1.2K Cr | Jun 2026 ₹1.2K Cr | Sep 2026 —
- RBC: Dec 2021 ₹161 Cr | Mar 2022 ₹267 Cr | Jun 2022 ₹359 Cr | Sep 2022 ₹354 Cr | Dec 2022 ₹369 Cr | Mar 2023 — | Jun 2023 ₹394 Cr | Sep 2023 ₹387 Cr | Dec 2023 ₹374 Cr | Mar 2024 ₹414 Cr | Jun 2024 ₹406 Cr | Sep 2024 ₹398 Cr | Dec 2024 ₹394 Cr | Mar 2025 ₹438 Cr | Jun 2025 ₹436 Cr | Sep 2025 ₹455 Cr | Dec 2025 ₹462 Cr | Mar 2026 ₹518 Cr | Jun 2026 — | Sep 2026 —
- SWK: Dec 2021 ₹3.8K Cr | Mar 2022 ₹4.0K Cr | Jun 2022 ₹4.4K Cr | Sep 2022 ₹4.4K Cr | Dec 2022 ₹4.1K Cr | Mar 2023 — | Jun 2023 ₹3.9K Cr | Sep 2023 ₹4.2K Cr | Dec 2023 ₹3.7K Cr | Mar 2024 ₹3.9K Cr | Jun 2024 ₹4.0K Cr | Sep 2024 ₹3.8K Cr | Dec 2024 ₹3.7K Cr | Mar 2025 — | Jun 2025 ₹3.7K Cr | Sep 2025 ₹3.8K Cr | Dec 2025 — | Mar 2026 ₹3.7K Cr | Jun 2026 ₹3.8K Cr | Sep 2026 —
- LECO: Dec 2021 ₹844 Cr | Mar 2022 ₹925 Cr | Jun 2022 ₹970 Cr | Sep 2022 ₹935 Cr | Dec 2022 ₹931 Cr | Mar 2023 ₹1.0K Cr | Jun 2023 ₹1.1K Cr | Sep 2023 ₹1.0K Cr | Dec 2023 ₹1.1K Cr | Mar 2024 ₹981 Cr | Jun 2024 ₹1.0K Cr | Sep 2024 ₹984 Cr | Dec 2024 ₹1.0K Cr | Mar 2025 ₹1.0K Cr | Jun 2025 ₹1.1K Cr | Sep 2025 ₹1.1K Cr | Dec 2025 ₹1.1K Cr | Mar 2026 ₹1.1K Cr | Jun 2026 — | Sep 2026 —
- TKR: Dec 2021 ₹1.0K Cr | Mar 2022 ₹1.1K Cr | Jun 2022 ₹1.2K Cr | Sep 2022 ₹1.1K Cr | Dec 2022 ₹1.1K Cr | Mar 2023 ₹1.3K Cr | Jun 2023 ₹1.3K Cr | Sep 2023 ₹1.1K Cr | Dec 2023 ₹1.1K Cr | Mar 2024 ₹1.2K Cr | Jun 2024 ₹1.2K Cr | Sep 2024 ₹1.1K Cr | Dec 2024 ₹1.1K Cr | Mar 2025 ₹1.1K Cr | Jun 2025 ₹1.2K Cr | Sep 2025 ₹1.2K Cr | Dec 2025 ₹1.1K Cr | Mar 2026 ₹1.2K Cr | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 ₹961 Cr | Mar 2022 ₹933 Cr | Jun 2022 ₹1.2K Cr | Sep 2022 ₹1.2K Cr | Dec 2022 ₹1.2K Cr | Mar 2023 ₹1.1K Cr | Jun 2023 ₹1.3K Cr | Sep 2023 ₹1.1K Cr | Dec 2023 ₹983 Cr | Mar 2024 ₹1.0K Cr | Jun 2024 ₹1.3K Cr | Sep 2024 ₹1.2K Cr | Dec 2024 ₹1.1K Cr | Mar 2025 ₹995 Cr | Jun 2025 ₹1.3K Cr | Sep 2025 ₹1.1K Cr | Dec 2025 ₹1.1K Cr | Mar 2026 ₹1.0K Cr | Jun 2026 ₹1.4K Cr | Sep 2026 —
- KMT: Dec 2021 ₹487 Cr | Mar 2022 ₹512 Cr | Jun 2022 ₹530 Cr | Sep 2022 ₹495 Cr | Dec 2022 ₹497 Cr | Mar 2023 ₹536 Cr | Jun 2023 ₹550 Cr | Sep 2023 ₹492 Cr | Dec 2023 ₹495 Cr | Mar 2024 ₹516 Cr | Jun 2024 ₹543 Cr | Sep 2024 ₹482 Cr | Dec 2024 ₹482 Cr | Mar 2025 ₹486 Cr | Jun 2025 ₹516 Cr | Sep 2025 ₹498 Cr | Dec 2025 ₹530 Cr | Mar 2026 ₹593 Cr | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 ₹344 Cr | Mar 2022 ₹363 Cr | Jun 2022 ₹394 Cr | Sep 2022 ₹379 Cr | Dec 2022 ₹351 Cr | Mar 2023 — | Jun 2023 ₹350 Cr | Sep 2023 ₹380 Cr | Dec 2023 — | Mar 2024 ₹350 Cr | Jun 2024 ₹379 Cr | Sep 2024 ₹393 Cr | Dec 2024 — | Mar 2025 ₹359 Cr | Jun 2025 ₹403 Cr | Sep 2025 ₹425 Cr | Dec 2025 — | Mar 2026 ₹370 Cr | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 ₹64 Cr | Mar 2022 ₹60 Cr | Jun 2022 ₹69 Cr | Sep 2022 ₹70 Cr | Dec 2022 ₹72 Cr | Mar 2023 — | Jun 2023 ₹72 Cr | Sep 2023 ₹68 Cr | Dec 2023 ₹64 Cr | Mar 2024 ₹65 Cr | Jun 2024 ₹73 Cr | Sep 2024 ₹71 Cr | Dec 2024 ₹67 Cr | Mar 2025 ₹63 Cr | Jun 2025 ₹70 Cr | Sep 2025 ₹55 Cr | Dec 2025 — | Mar 2026 ₹58 Cr | Jun 2026 ₹60 Cr | Sep 2026 —

### 20-quarter Revenue growth history
- SNA: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 5.2% | Dec 2022 6.3% | Mar 2023 — | Jun 2023 7.7% | Sep 2023 4.8% | Dec 2023 8.5% | Mar 2024 — | Jun 2024 -0.3% | Sep 2024 -3.7% | Dec 2024 0.2% | Mar 2025 -3.5% | Jun 2025 0.0% | Sep 2025 3.8% | Dec 2025 — | Mar 2026 8.0% | Jun 2026 2.4% | Sep 2026 —
- RBC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 127% | Dec 2022 129% | Mar 2023 — | Jun 2023 9.8% | Sep 2023 9.3% | Dec 2023 1.4% | Mar 2024 — | Jun 2024 3.1% | Sep 2024 2.8% | Dec 2024 5.4% | Mar 2025 5.8% | Jun 2025 7.4% | Sep 2025 14% | Dec 2025 17% | Mar 2026 18% | Jun 2026 — | Sep 2026 —
- SWK: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 16% | Dec 2022 9.0% | Mar 2023 — | Jun 2023 -12% | Sep 2023 -5.3% | Dec 2023 -9.3% | Mar 2024 — | Jun 2024 2.3% | Sep 2024 -9.8% | Dec 2024 -0.4% | Mar 2025 — | Jun 2025 -6.9% | Sep 2025 0.1% | Dec 2025 — | Mar 2026 — | Jun 2026 2.7% | Sep 2026 —
- LECO: Dec 2021 — | Mar 2022 — | Jun 2022 17% | Sep 2022 16% | Dec 2022 10% | Mar 2023 12% | Jun 2023 9.4% | Sep 2023 10% | Dec 2023 14% | Mar 2024 -5.6% | Jun 2024 -3.7% | Sep 2024 -4.7% | Dec 2024 -3.5% | Mar 2025 2.3% | Jun 2025 6.6% | Sep 2025 7.8% | Dec 2025 5.6% | Mar 2026 12% | Jun 2026 — | Sep 2026 —
- TKR: Dec 2021 — | Mar 2022 — | Jun 2022 8.6% | Sep 2022 9.6% | Dec 2022 7.5% | Mar 2023 12% | Jun 2023 10% | Sep 2023 0.6% | Dec 2023 0.8% | Mar 2024 -5.8% | Jun 2024 -7.1% | Sep 2024 -1.4% | Dec 2024 -1.6% | Mar 2025 -4.2% | Jun 2025 -0.8% | Sep 2025 2.7% | Dec 2025 3.5% | Mar 2026 8.0% | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 19% | Dec 2022 22% | Mar 2023 23% | Jun 2023 7.2% | Sep 2023 -6.8% | Dec 2023 -16% | Mar 2024 -13% | Jun 2024 0.8% | Sep 2024 6.9% | Dec 2024 9.5% | Mar 2025 -0.7% | Jun 2025 -2.3% | Sep 2025 -2.3% | Dec 2025 -0.9% | Mar 2026 4.1% | Jun 2026 8.1% | Sep 2026 —
- KMT: Dec 2021 — | Mar 2022 — | Jun 2022 2.7% | Sep 2022 2.3% | Dec 2022 2.1% | Mar 2023 4.7% | Jun 2023 3.8% | Sep 2023 -0.6% | Dec 2023 -0.4% | Mar 2024 -3.7% | Jun 2024 -1.3% | Sep 2024 -2.0% | Dec 2024 -2.6% | Mar 2025 -5.8% | Jun 2025 -5.0% | Sep 2025 3.3% | Dec 2025 10.0% | Mar 2026 22% | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 — | Mar 2022 — | Jun 2022 4.8% | Sep 2022 4.1% | Dec 2022 2.0% | Mar 2023 — | Jun 2023 -11% | Sep 2023 0.3% | Dec 2023 — | Mar 2024 — | Jun 2024 8.3% | Sep 2024 3.4% | Dec 2024 — | Mar 2025 2.6% | Jun 2025 6.3% | Sep 2025 8.1% | Dec 2025 — | Mar 2026 3.1% | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 15% | Dec 2022 13% | Mar 2023 — | Jun 2023 4.4% | Sep 2023 -2.9% | Dec 2023 -11% | Mar 2024 — | Jun 2024 1.4% | Sep 2024 4.4% | Dec 2024 4.7% | Mar 2025 -3.1% | Jun 2025 -4.1% | Sep 2025 -23% | Dec 2025 — | Mar 2026 -7.9% | Jun 2026 -14% | Sep 2026 —

## Operating Economics & Margin Trend

What the numbers say: Snap-on Incorporated leads opm at 26.4%; Kennametal Inc. leads margin change at +4.3 percentage points.

Investor read: Snap-on Incorporated sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Evidence: Snap-on Incorporated · 26.4% | 14.8% versus #2 · RBC Bearings Incorporated | 4/8 recent comparable periods | 9/9 companies · 154 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. Snap-on Incorporated (SNA): 26%
2. RBC Bearings Incorporated (RBC): 23% — older report
3. Lincoln Electric Holdings, Inc. (LECO): 17% — older report
4. The Timken Company (TKR): 14% — older report
5. The Toro Company (TTC): 14%

### Margin change — fastest expanders
1. Kennametal Inc. (KMT): +4.3 pp — older report
2. The Timken Company (TKR): +1.1 pp — older report
3. The Toro Company (TTC): +0.4 pp
4. Lincoln Electric Holdings, Inc. (LECO): +0.2 pp — older report
5. RBC Bearings Incorporated (RBC): 0.0 pp — older report

### 20-quarter OPM history
- SNA: Dec 2021 26% | Mar 2022 27% | Jun 2022 27% | Sep 2022 27% | Dec 2022 26% | Mar 2023 — | Jun 2023 28% | Sep 2023 29% | Dec 2023 27% | Mar 2024 29% | Jun 2024 30% | Sep 2024 28% | Dec 2024 28% | Mar 2025 28% | Jun 2025 28% | Sep 2025 29% | Dec 2025 — | Mar 2026 28% | Jun 2026 26% | Sep 2026 —
- RBC: Dec 2021 10% | Mar 2022 5.9% | Jun 2022 17% | Sep 2022 18% | Dec 2022 20% | Mar 2023 — | Jun 2023 22% | Sep 2023 22% | Dec 2023 20% | Mar 2024 23% | Jun 2024 24% | Sep 2024 22% | Dec 2024 22% | Mar 2025 23% | Jun 2025 23% | Sep 2025 22% | Dec 2025 22% | Mar 2026 23% | Jun 2026 — | Sep 2026 —
- SWK: Dec 2021 11% | Mar 2022 3.1% | Jun 2022 5.2% | Sep 2022 2.0% | Dec 2022 1.7% | Mar 2023 — | Jun 2023 -1.9% | Sep 2023 0.6% | Dec 2023 0.2% | Mar 2024 3.5% | Jun 2024 1.4% | Sep 2024 4.5% | Dec 2024 5.4% | Mar 2025 — | Jun 2025 5.5% | Sep 2025 3.1% | Dec 2025 — | Mar 2026 8.4% | Jun 2026 4.2% | Sep 2026 —
- LECO: Dec 2021 14% | Mar 2022 17% | Jun 2022 17% | Sep 2022 15% | Dec 2022 15% | Mar 2023 16% | Jun 2023 17% | Sep 2023 17% | Dec 2023 19% | Mar 2024 17% | Jun 2024 15% | Sep 2024 15% | Dec 2024 17% | Mar 2025 16% | Jun 2025 18% | Sep 2025 17% | Dec 2025 17% | Mar 2026 17% | Jun 2026 — | Sep 2026 —
- TKR: Dec 2021 8.5% | Mar 2022 15% | Jun 2022 15% | Sep 2022 12% | Dec 2022 12% | Mar 2023 15% | Jun 2023 16% | Sep 2023 13% | Dec 2023 11% | Mar 2024 16% | Jun 2024 14% | Sep 2024 13% | Dec 2024 11% | Mar 2025 13% | Jun 2025 13% | Sep 2025 12% | Dec 2025 9.8% | Mar 2026 14% | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 7.7% | Mar 2022 9.8% | Jun 2022 14% | Sep 2022 14% | Dec 2022 13% | Mar 2023 12% | Jun 2023 16% | Sep 2023 -1.8% | Dec 2023 9.6% | Mar 2024 8.8% | Jun 2024 14% | Sep 2024 13% | Dec 2024 10% | Mar 2025 7.8% | Jun 2025 13% | Sep 2025 5.7% | Dec 2025 8.7% | Mar 2026 8.4% | Jun 2026 14% | Sep 2026 —
- KMT: Dec 2021 9.8% | Mar 2022 10% | Jun 2022 12% | Sep 2022 9.8% | Dec 2022 7.1% | Mar 2023 9.8% | Jun 2023 10% | Sep 2023 9.2% | Dec 2023 5.7% | Mar 2024 6.8% | Jun 2024 11% | Sep 2024 7.5% | Dec 2024 6.6% | Mar 2025 9.1% | Jun 2025 6.1% | Sep 2025 7.5% | Dec 2025 9.9% | Mar 2026 13% | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 32% | Mar 2022 2.4% | Jun 2022 7.0% | Sep 2022 -0.1% | Dec 2022 1.1% | Mar 2023 — | Jun 2023 0.3% | Sep 2023 5.5% | Dec 2023 — | Mar 2024 4.7% | Jun 2024 8.3% | Sep 2024 6.8% | Dec 2024 — | Mar 2025 4.2% | Jun 2025 9.0% | Sep 2025 11% | Dec 2025 — | Mar 2026 1.9% | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 7.5% | Mar 2022 6.0% | Jun 2022 5.1% | Sep 2022 7.0% | Dec 2022 7.6% | Mar 2023 — | Jun 2023 3.0% | Sep 2023 3.6% | Dec 2023 8.9% | Mar 2024 5.3% | Jun 2024 8.3% | Sep 2024 9.5% | Dec 2024 4.5% | Mar 2025 5.1% | Jun 2025 4.5% | Sep 2025 3.1% | Dec 2025 — | Mar 2026 3.8% | Jun 2026 2.2% | Sep 2026 —

### 20-quarter Margin change history
- SNA: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.0 pp | Dec 2022 +0.1 pp | Mar 2023 — | Jun 2023 +0.9 pp | Sep 2023 +1.5 pp | Dec 2023 +0.9 pp | Mar 2024 — | Jun 2024 +2.1 pp | Sep 2024 −0.6 pp | Dec 2024 +0.5 pp | Mar 2025 −1.2 pp | Jun 2025 −1.9 pp | Sep 2025 +0.9 pp | Dec 2025 — | Mar 2026 +0.1 pp | Jun 2026 −1.4 pp | Sep 2026 —
- RBC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.6 pp | Dec 2022 +9.2 pp | Mar 2023 — | Jun 2023 +5.3 pp | Sep 2023 +3.8 pp | Dec 2023 +0.6 pp | Mar 2024 — | Jun 2024 +2.2 pp | Sep 2024 −0.4 pp | Dec 2024 +1.6 pp | Mar 2025 +0.2 pp | Jun 2025 −0.8 pp | Sep 2025 −0.1 pp | Dec 2025 +0.6 pp | Mar 2026 0.0 pp | Jun 2026 — | Sep 2026 —
- SWK: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −12.2 pp | Dec 2022 −9.2 pp | Mar 2023 — | Jun 2023 −7.1 pp | Sep 2023 −1.4 pp | Dec 2023 −1.5 pp | Mar 2024 — | Jun 2024 +3.3 pp | Sep 2024 +3.9 pp | Dec 2024 +5.2 pp | Mar 2025 — | Jun 2025 +4.1 pp | Sep 2025 −1.4 pp | Dec 2025 — | Mar 2026 — | Jun 2026 −1.3 pp | Sep 2026 —
- LECO: Dec 2021 — | Mar 2022 — | Jun 2022 +2.6 pp | Sep 2022 +0.9 pp | Dec 2022 +0.9 pp | Mar 2023 −1.6 pp | Jun 2023 −0.5 pp | Sep 2023 +1.4 pp | Dec 2023 +4.1 pp | Mar 2024 +1.0 pp | Jun 2024 −2.2 pp | Sep 2024 −1.8 pp | Dec 2024 −2.0 pp | Mar 2025 −0.4 pp | Jun 2025 +3.0 pp | Sep 2025 +1.8 pp | Dec 2025 −0.2 pp | Mar 2026 +0.2 pp | Jun 2026 — | Sep 2026 —
- TKR: Dec 2021 — | Mar 2022 — | Jun 2022 +0.9 pp | Sep 2022 −0.4 pp | Dec 2022 +3.2 pp | Mar 2023 −0.4 pp | Jun 2023 +0.6 pp | Sep 2023 +1.5 pp | Dec 2023 −0.8 pp | Mar 2024 +0.6 pp | Jun 2024 −1.7 pp | Sep 2024 −0.1 pp | Dec 2024 −0.4 pp | Mar 2025 −2.9 pp | Jun 2025 −1.5 pp | Sep 2025 −1.0 pp | Dec 2025 −0.7 pp | Mar 2026 +1.1 pp | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.5 pp | Dec 2022 +5.1 pp | Mar 2023 +2.1 pp | Jun 2023 +2.6 pp | Sep 2023 −15.8 pp | Dec 2023 −3.2 pp | Mar 2024 −3.1 pp | Jun 2024 −2.4 pp | Sep 2024 +14.6 pp | Dec 2024 +0.5 pp | Mar 2025 −1.0 pp | Jun 2025 −0.6 pp | Sep 2025 −7.1 pp | Dec 2025 −1.4 pp | Mar 2026 +0.6 pp | Jun 2026 +0.4 pp | Sep 2026 —
- KMT: Dec 2021 — | Mar 2022 — | Jun 2022 0.0 pp | Sep 2022 −1.5 pp | Dec 2022 −2.7 pp | Mar 2023 −0.6 pp | Jun 2023 −1.6 pp | Sep 2023 −0.6 pp | Dec 2023 −1.4 pp | Mar 2024 −3.0 pp | Jun 2024 +1.1 pp | Sep 2024 −1.7 pp | Dec 2024 +0.9 pp | Mar 2025 +2.3 pp | Jun 2025 −5.2 pp | Sep 2025 0.0 pp | Dec 2025 +3.3 pp | Mar 2026 +4.3 pp | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 — | Mar 2022 — | Jun 2022 +1.8 pp | Sep 2022 +3.5 pp | Dec 2022 −31.1 pp | Mar 2023 — | Jun 2023 −6.7 pp | Sep 2023 +5.6 pp | Dec 2023 — | Mar 2024 — | Jun 2024 +8.0 pp | Sep 2024 +1.3 pp | Dec 2024 — | Mar 2025 −0.5 pp | Jun 2025 +0.7 pp | Sep 2025 +4.0 pp | Dec 2025 — | Mar 2026 −2.3 pp | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.3 pp | Dec 2022 +0.1 pp | Mar 2023 — | Jun 2023 −2.1 pp | Sep 2023 −3.4 pp | Dec 2023 +1.3 pp | Mar 2024 — | Jun 2024 +5.3 pp | Sep 2024 +5.9 pp | Dec 2024 −4.4 pp | Mar 2025 −0.2 pp | Jun 2025 −3.8 pp | Sep 2025 −6.4 pp | Dec 2025 — | Mar 2026 −1.3 pp | Jun 2026 −2.3 pp | Sep 2026 —

## Profit Scale & Acceleration

What the numbers say: Lincoln Electric Holdings, Inc. leads with $538 million of TTM profit, 58.2% above The Toro Company. Kennametal Inc. shows 27.4% growth from a $144 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Lincoln Electric Holdings, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: Lincoln Electric Holdings, Inc. · $538 million | 58.2% versus #2 · The Toro Company | 3/8 recent comparable periods | 6/9 companies · 157 observations

Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

### Net profit — largest
1. Lincoln Electric Holdings, Inc. (LECO): ₹538 Cr — older report
2. The Toro Company (TTC): ₹340 Cr
3. The Timken Company (TKR): ₹332 Cr — older report
4. RBC Bearings Incorporated (RBC): ₹288 Cr — older report
5. Kennametal Inc. (KMT): ₹144 Cr — older report

### Profit growth — fastest growers
1. Kennametal Inc. (KMT): 27% — older report
2. RBC Bearings Incorporated (RBC): 17% — older report
3. Lincoln Electric Holdings, Inc. (LECO): 17% — older report
4. The Timken Company (TKR): -6.7% — older report
5. The Toro Company (TTC): -15%

### 20-quarter Net profit history
- SNA: Dec 2021 ₹202 Cr | Mar 2022 ₹229 Cr | Jun 2022 ₹223 Cr | Sep 2022 ₹237 Cr | Dec 2022 ₹230 Cr | Mar 2023 — | Jun 2023 ₹254 Cr | Sep 2023 ₹270 Cr | Dec 2023 ₹261 Cr | Mar 2024 ₹270 Cr | Jun 2024 ₹278 Cr | Sep 2024 ₹258 Cr | Dec 2024 ₹264 Cr | Mar 2025 ₹247 Cr | Jun 2025 ₹257 Cr | Sep 2025 ₹272 Cr | Dec 2025 — | Mar 2026 ₹267 Cr | Jun 2026 ₹254 Cr | Sep 2026 —
- RBC: Dec 2021 ₹-1 Cr | Mar 2022 ₹1 Cr | Jun 2022 ₹31 Cr | Sep 2022 ₹37 Cr | Dec 2022 ₹44 Cr | Mar 2023 — | Jun 2023 ₹49 Cr | Sep 2023 ₹50 Cr | Dec 2023 ₹47 Cr | Mar 2024 ₹62 Cr | Jun 2024 ₹61 Cr | Sep 2024 ₹54 Cr | Dec 2024 ₹58 Cr | Mar 2025 ₹73 Cr | Jun 2025 ₹69 Cr | Sep 2025 ₹60 Cr | Dec 2025 ₹67 Cr | Mar 2026 ₹92 Cr | Jun 2026 — | Sep 2026 —
- SWK: Dec 2021 ₹380 Cr | Mar 2022 ₹279 Cr | Jun 2022 ₹156 Cr | Sep 2022 ₹79 Cr | Dec 2022 ₹37 Cr | Mar 2023 — | Jun 2023 ₹-188 Cr | Sep 2023 ₹178 Cr | Dec 2023 ₹-276 Cr | Mar 2024 ₹20 Cr | Jun 2024 ₹-19 Cr | Sep 2024 ₹91 Cr | Dec 2024 ₹195 Cr | Mar 2025 — | Jun 2025 ₹90 Cr | Sep 2025 ₹51 Cr | Dec 2025 — | Mar 2026 ₹158 Cr | Jun 2026 ₹60 Cr | Sep 2026 —
- LECO: Dec 2021 ₹74 Cr | Mar 2022 ₹126 Cr | Jun 2022 ₹128 Cr | Sep 2022 ₹109 Cr | Dec 2022 ₹109 Cr | Mar 2023 ₹122 Cr | Jun 2023 ₹137 Cr | Sep 2023 ₹129 Cr | Dec 2023 ₹157 Cr | Mar 2024 ₹123 Cr | Jun 2024 ₹102 Cr | Sep 2024 ₹101 Cr | Dec 2024 ₹140 Cr | Mar 2025 ₹118 Cr | Jun 2025 ₹143 Cr | Sep 2025 ₹123 Cr | Dec 2025 ₹136 Cr | Mar 2026 ₹136 Cr | Jun 2026 — | Sep 2026 —
- TKR: Dec 2021 ₹67 Cr | Mar 2022 ₹122 Cr | Jun 2022 ₹106 Cr | Sep 2022 ₹90 Cr | Dec 2022 ₹99 Cr | Mar 2023 ₹126 Cr | Jun 2023 ₹130 Cr | Sep 2023 ₹91 Cr | Dec 2023 ₹62 Cr | Mar 2024 ₹111 Cr | Jun 2024 ₹102 Cr | Sep 2024 ₹88 Cr | Dec 2024 ₹75 Cr | Mar 2025 ₹91 Cr | Jun 2025 ₹86 Cr | Sep 2025 ₹74 Cr | Dec 2025 ₹66 Cr | Mar 2026 ₹106 Cr | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 ₹60 Cr | Mar 2022 ₹70 Cr | Jun 2022 ₹131 Cr | Sep 2022 ₹125 Cr | Dec 2022 ₹118 Cr | Mar 2023 ₹107 Cr | Jun 2023 ₹168 Cr | Sep 2023 ₹-15 Cr | Dec 2023 ₹70 Cr | Mar 2024 ₹65 Cr | Jun 2024 ₹145 Cr | Sep 2024 ₹119 Cr | Dec 2024 ₹90 Cr | Mar 2025 ₹53 Cr | Jun 2025 ₹137 Cr | Sep 2025 ₹54 Cr | Dec 2025 ₹73 Cr | Mar 2026 ₹68 Cr | Jun 2026 ₹145 Cr | Sep 2026 —
- KMT: Dec 2021 ₹33 Cr | Mar 2022 ₹37 Cr | Jun 2022 ₹43 Cr | Sep 2022 ₹30 Cr | Dec 2022 ₹23 Cr | Mar 2023 ₹33 Cr | Jun 2023 ₹38 Cr | Sep 2023 ₹30 Cr | Dec 2023 ₹24 Cr | Mar 2024 ₹21 Cr | Jun 2024 ₹38 Cr | Sep 2024 ₹23 Cr | Dec 2024 ₹19 Cr | Mar 2025 ₹33 Cr | Jun 2025 ₹23 Cr | Sep 2025 ₹25 Cr | Dec 2025 ₹35 Cr | Mar 2026 ₹61 Cr | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 ₹118 Cr | Mar 2022 ₹-2 Cr | Jun 2022 ₹9 Cr | Sep 2022 ₹-9 Cr | Dec 2022 ₹-14 Cr | Mar 2023 — | Jun 2023 ₹-9 Cr | Sep 2023 ₹5 Cr | Dec 2023 ₹-10 Cr | Mar 2024 ₹-1 Cr | Jun 2024 ₹13 Cr | Sep 2024 ₹7 Cr | Dec 2024 ₹-1 Cr | Mar 2025 ₹0 Cr | Jun 2025 ₹16 Cr | Sep 2025 ₹23 Cr | Dec 2025 ₹2 Cr | Mar 2026 ₹-5 Cr | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 ₹4 Cr | Mar 2022 ₹4 Cr | Jun 2022 ₹3 Cr | Sep 2022 ₹4 Cr | Dec 2022 ₹4 Cr | Mar 2023 — | Jun 2023 ₹1 Cr | Sep 2023 ₹1 Cr | Dec 2023 ₹4 Cr | Mar 2024 ₹2 Cr | Jun 2024 ₹4 Cr | Sep 2024 ₹5 Cr | Dec 2024 ₹2 Cr | Mar 2025 ₹2 Cr | Jun 2025 ₹2 Cr | Sep 2025 ₹1 Cr | Dec 2025 — | Mar 2026 ₹1 Cr | Jun 2026 ₹1 Cr | Sep 2026 —

### 20-quarter Profit growth history
- SNA: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 11% | Dec 2022 14% | Mar 2023 — | Jun 2023 14% | Sep 2023 14% | Dec 2023 13% | Mar 2024 — | Jun 2024 9.5% | Sep 2024 -4.4% | Dec 2024 1.2% | Mar 2025 -8.5% | Jun 2025 -7.6% | Sep 2025 5.4% | Dec 2025 — | Mar 2026 8.1% | Jun 2026 -1.2% | Sep 2026 —
- RBC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 54% | Dec 2022 — | Mar 2023 — | Jun 2023 58% | Sep 2023 35% | Dec 2023 6.8% | Mar 2024 — | Jun 2024 24% | Sep 2024 8.0% | Dec 2024 23% | Mar 2025 18% | Jun 2025 13% | Sep 2025 11% | Dec 2025 16% | Mar 2026 26% | Jun 2026 — | Sep 2026 —
- SWK: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -82% | Dec 2022 -90% | Mar 2023 — | Jun 2023 -221% | Sep 2023 125% | Dec 2023 -846% | Mar 2024 — | Jun 2024 — | Sep 2024 -49% | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 -44% | Dec 2025 — | Mar 2026 — | Jun 2026 -33% | Sep 2026 —
- LECO: Dec 2021 — | Mar 2022 — | Jun 2022 33% | Sep 2022 241% | Dec 2022 47% | Mar 2023 -3.2% | Jun 2023 7.0% | Sep 2023 18% | Dec 2023 44% | Mar 2024 0.8% | Jun 2024 -26% | Sep 2024 -22% | Dec 2024 -11% | Mar 2025 -4.1% | Jun 2025 40% | Sep 2025 22% | Dec 2025 -2.9% | Mar 2026 15% | Jun 2026 — | Sep 2026 —
- TKR: Dec 2021 — | Mar 2022 — | Jun 2022 -0.9% | Sep 2022 -2.2% | Dec 2022 48% | Mar 2023 3.3% | Jun 2023 23% | Sep 2023 1.1% | Dec 2023 -37% | Mar 2024 -12% | Jun 2024 -22% | Sep 2024 -3.3% | Dec 2024 21% | Mar 2025 -18% | Jun 2025 -16% | Sep 2025 -16% | Dec 2025 -12% | Mar 2026 16% | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 30% | Dec 2022 97% | Mar 2023 53% | Jun 2023 28% | Sep 2023 -112% | Dec 2023 -41% | Mar 2024 -39% | Jun 2024 -14% | Sep 2024 — | Dec 2024 29% | Mar 2025 -18% | Jun 2025 -5.5% | Sep 2025 -55% | Dec 2025 -19% | Mar 2026 28% | Jun 2026 5.8% | Sep 2026 —
- KMT: Dec 2021 — | Mar 2022 — | Jun 2022 19% | Sep 2022 -21% | Dec 2022 -30% | Mar 2023 -11% | Jun 2023 -12% | Sep 2023 0.0% | Dec 2023 4.4% | Mar 2024 -36% | Jun 2024 0.0% | Sep 2024 -23% | Dec 2024 -21% | Mar 2025 57% | Jun 2025 -39% | Sep 2025 8.7% | Dec 2025 84% | Mar 2026 85% | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 -112% | Mar 2023 — | Jun 2023 -200% | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 40% | Dec 2024 — | Mar 2025 — | Jun 2025 23% | Sep 2025 229% | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 33% | Dec 2022 0.0% | Mar 2023 — | Jun 2023 -67% | Sep 2023 -75% | Dec 2023 0.0% | Mar 2024 — | Jun 2024 300% | Sep 2024 400% | Dec 2024 -50% | Mar 2025 0.0% | Jun 2025 -50% | Sep 2025 -80% | Dec 2025 — | Mar 2026 -50% | Jun 2026 -50% | Sep 2026 —

## Capacity Spending & Returns On It

What the numbers say: Stanley Black & Decker, Inc. reports $59 million of CAPEX; Hillman Solutions Corp. has the highest covered intensity at 4.1%. Coverage is only 9 of 9 companies and 157 reported observations, so this is partial evidence—not a complete sector rank.

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

Evidence: Stanley Black & Decker, Inc. · $59 million | 51.3% versus #2 · Lincoln Electric Holdings, Inc. | 8/8 recent comparable periods | 9/9 companies · 157 observations

Definition: CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

### CAPEX — largest spenders
1. Stanley Black & Decker, Inc. (SWK): ₹59 Cr
2. Lincoln Electric Holdings, Inc. (LECO): ₹39 Cr — older report
3. The Timken Company (TKR): ₹39 Cr — older report
4. Snap-on Incorporated (SNA): ₹23 Cr
5. Kennametal Inc. (KMT): ₹18 Cr — older report

### CAPEX intensity — highest reinvestment intensity
1. Hillman Solutions Corp. (HLMN): 4.1% — older report
2. Lincoln Electric Holdings, Inc. (LECO): 3.5% — older report
3. RBC Bearings Incorporated (RBC): 3.5% — older report
4. The Timken Company (TKR): 3.2% — older report
5. Kennametal Inc. (KMT): 3.0% — older report

### 20-quarter CAPEX history
- SNA: Dec 2021 ₹16 Cr | Mar 2022 ₹16 Cr | Jun 2022 ₹20 Cr | Sep 2022 ₹21 Cr | Dec 2022 ₹20 Cr | Mar 2023 — | Jun 2023 ₹23 Cr | Sep 2023 ₹26 Cr | Dec 2023 ₹21 Cr | Mar 2024 ₹22 Cr | Jun 2024 ₹23 Cr | Sep 2024 ₹20 Cr | Dec 2024 ₹18 Cr | Mar 2025 ₹23 Cr | Jun 2025 ₹20 Cr | Sep 2025 ₹20 Cr | Dec 2025 — | Mar 2026 ₹14 Cr | Jun 2026 ₹21 Cr | Sep 2026 ₹23 Cr
- RBC: Dec 2021 — | Mar 2022 ₹15 Cr | Jun 2022 ₹8 Cr | Sep 2022 ₹8 Cr | Dec 2022 ₹15 Cr | Mar 2023 — | Jun 2023 ₹12 Cr | Sep 2023 ₹7 Cr | Dec 2023 ₹10 Cr | Mar 2024 ₹10 Cr | Jun 2024 ₹9 Cr | Sep 2024 ₹16 Cr | Dec 2024 ₹10 Cr | Mar 2025 ₹14 Cr | Jun 2025 ₹16 Cr | Sep 2025 ₹17 Cr | Dec 2025 ₹23 Cr | Mar 2026 ₹18 Cr | Jun 2026 — | Sep 2026 —
- SWK: Dec 2021 ₹129 Cr | Mar 2022 ₹197 Cr | Jun 2022 ₹140 Cr | Sep 2022 ₹146 Cr | Dec 2022 ₹114 Cr | Mar 2023 — | Jun 2023 ₹68 Cr | Sep 2023 ₹68 Cr | Dec 2023 ₹122 Cr | Mar 2024 ₹66 Cr | Jun 2024 ₹87 Cr | Sep 2024 ₹87 Cr | Dec 2024 ₹115 Cr | Mar 2025 — | Jun 2025 ₹65 Cr | Sep 2025 ₹66 Cr | Dec 2025 — | Mar 2026 ₹73 Cr | Jun 2026 ₹59 Cr | Sep 2026 —
- LECO: Dec 2021 ₹16 Cr | Mar 2022 ₹19 Cr | Jun 2022 ₹16 Cr | Sep 2022 ₹18 Cr | Dec 2022 ₹20 Cr | Mar 2023 ₹19 Cr | Jun 2023 ₹22 Cr | Sep 2023 ₹26 Cr | Dec 2023 ₹25 Cr | Mar 2024 ₹26 Cr | Jun 2024 ₹23 Cr | Sep 2024 ₹36 Cr | Dec 2024 ₹31 Cr | Mar 2025 ₹27 Cr | Jun 2025 ₹25 Cr | Sep 2025 ₹32 Cr | Dec 2025 ₹43 Cr | Mar 2026 ₹39 Cr | Jun 2026 — | Sep 2026 —
- TKR: Dec 2021 ₹45 Cr | Mar 2022 ₹34 Cr | Jun 2022 ₹41 Cr | Sep 2022 ₹47 Cr | Dec 2022 ₹56 Cr | Mar 2023 ₹42 Cr | Jun 2023 ₹50 Cr | Sep 2023 ₹44 Cr | Dec 2023 ₹53 Cr | Mar 2024 ₹44 Cr | Jun 2024 ₹37 Cr | Sep 2024 ₹35 Cr | Dec 2024 ₹54 Cr | Mar 2025 ₹35 Cr | Jun 2025 ₹33 Cr | Sep 2025 ₹37 Cr | Dec 2025 ₹43 Cr | Mar 2026 ₹39 Cr | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 ₹56 Cr | Mar 2022 ₹12 Cr | Jun 2022 ₹24 Cr | Sep 2022 ₹40 Cr | Dec 2022 ₹68 Cr | Mar 2023 ₹29 Cr | Jun 2023 ₹41 Cr | Sep 2023 ₹36 Cr | Dec 2023 ₹44 Cr | Mar 2024 ₹19 Cr | Jun 2024 ₹20 Cr | Sep 2024 ₹24 Cr | Dec 2024 ₹40 Cr | Mar 2025 ₹19 Cr | Jun 2025 ₹19 Cr | Sep 2025 ₹19 Cr | Dec 2025 ₹27 Cr | Mar 2026 ₹12 Cr | Jun 2026 ₹17 Cr | Sep 2026 —
- KMT: Dec 2021 ₹20 Cr | Mar 2022 ₹22 Cr | Jun 2022 ₹37 Cr | Sep 2022 ₹29 Cr | Dec 2022 ₹21 Cr | Mar 2023 ₹20 Cr | Jun 2023 ₹23 Cr | Sep 2023 ₹32 Cr | Dec 2023 ₹26 Cr | Mar 2024 ₹27 Cr | Jun 2024 ₹23 Cr | Sep 2024 ₹25 Cr | Dec 2024 ₹19 Cr | Mar 2025 ₹24 Cr | Jun 2025 ₹21 Cr | Sep 2025 ₹23 Cr | Dec 2025 ₹13 Cr | Mar 2026 ₹18 Cr | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 ₹15 Cr | Mar 2022 ₹13 Cr | Jun 2022 ₹16 Cr | Sep 2022 ₹18 Cr | Dec 2022 ₹23 Cr | Mar 2023 — | Jun 2023 ₹18 Cr | Sep 2023 ₹19 Cr | Dec 2023 ₹14 Cr | Mar 2024 ₹18 Cr | Jun 2024 ₹22 Cr | Sep 2024 ₹24 Cr | Dec 2024 ₹21 Cr | Mar 2025 ₹21 Cr | Jun 2025 ₹18 Cr | Sep 2025 ₹38 Cr | Dec 2025 ₹70 Cr | Mar 2026 ₹15 Cr | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 ₹0 Cr | Mar 2022 ₹2 Cr | Jun 2022 ₹1 Cr | Sep 2022 ₹1 Cr | Dec 2022 ₹1 Cr | Mar 2023 — | Jun 2023 ₹1 Cr | Sep 2023 ₹1 Cr | Dec 2023 ₹1 Cr | Mar 2024 ₹2 Cr | Jun 2024 ₹1 Cr | Sep 2024 ₹5 Cr | Dec 2024 ₹2 Cr | Mar 2025 ₹1 Cr | Jun 2025 ₹1 Cr | Sep 2025 ₹0 Cr | Dec 2025 — | Mar 2026 ₹2 Cr | Jun 2026 ₹1 Cr | Sep 2026 —

### 20-quarter CAPEX intensity history
- SNA: Dec 2021 1.5% | Mar 2022 1.4% | Jun 2022 1.8% | Sep 2022 1.8% | Dec 2022 1.8% | Mar 2023 — | Jun 2023 1.9% | Sep 2023 2.2% | Dec 2023 1.8% | Mar 2024 1.9% | Jun 2024 2.0% | Sep 2024 1.7% | Dec 2024 1.5% | Mar 2025 2.0% | Jun 2025 1.7% | Sep 2025 1.7% | Dec 2025 — | Mar 2026 1.1% | Jun 2026 1.7% | Sep 2026 —
- RBC: Dec 2021 — | Mar 2022 5.6% | Jun 2022 2.2% | Sep 2022 2.3% | Dec 2022 4.1% | Mar 2023 — | Jun 2023 3.0% | Sep 2023 1.8% | Dec 2023 2.7% | Mar 2024 2.4% | Jun 2024 2.2% | Sep 2024 4.0% | Dec 2024 2.5% | Mar 2025 3.2% | Jun 2025 3.7% | Sep 2025 3.7% | Dec 2025 5.0% | Mar 2026 3.5% | Jun 2026 — | Sep 2026 —
- SWK: Dec 2021 3.4% | Mar 2022 4.9% | Jun 2022 3.1% | Sep 2022 3.3% | Dec 2022 2.8% | Mar 2023 — | Jun 2023 1.7% | Sep 2023 1.6% | Dec 2023 3.3% | Mar 2024 1.7% | Jun 2024 2.2% | Sep 2024 2.3% | Dec 2024 3.1% | Mar 2025 — | Jun 2025 1.7% | Sep 2025 1.8% | Dec 2025 — | Mar 2026 2.0% | Jun 2026 1.5% | Sep 2026 —
- LECO: Dec 2021 1.9% | Mar 2022 2.1% | Jun 2022 1.6% | Sep 2022 1.9% | Dec 2022 2.1% | Mar 2023 1.8% | Jun 2023 2.1% | Sep 2023 2.5% | Dec 2023 2.4% | Mar 2024 2.7% | Jun 2024 2.3% | Sep 2024 3.7% | Dec 2024 3.0% | Mar 2025 2.7% | Jun 2025 2.3% | Sep 2025 3.0% | Dec 2025 4.0% | Mar 2026 3.5% | Jun 2026 — | Sep 2026 —
- TKR: Dec 2021 4.5% | Mar 2022 3.0% | Jun 2022 3.6% | Sep 2022 4.1% | Dec 2022 5.2% | Mar 2023 3.3% | Jun 2023 3.9% | Sep 2023 3.8% | Dec 2023 4.9% | Mar 2024 3.7% | Jun 2024 3.1% | Sep 2024 3.1% | Dec 2024 5.0% | Mar 2025 3.1% | Jun 2025 2.8% | Sep 2025 3.2% | Dec 2025 3.9% | Mar 2026 3.2% | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 5.8% | Mar 2022 1.3% | Jun 2022 1.9% | Sep 2022 3.4% | Dec 2022 5.8% | Mar 2023 2.5% | Jun 2023 3.1% | Sep 2023 3.3% | Dec 2023 4.5% | Mar 2024 1.9% | Jun 2024 1.5% | Sep 2024 2.1% | Dec 2024 3.7% | Mar 2025 1.9% | Jun 2025 1.4% | Sep 2025 1.7% | Dec 2025 2.5% | Mar 2026 1.2% | Jun 2026 1.2% | Sep 2026 —
- KMT: Dec 2021 4.1% | Mar 2022 4.3% | Jun 2022 7.0% | Sep 2022 5.9% | Dec 2022 4.2% | Mar 2023 3.7% | Jun 2023 4.2% | Sep 2023 6.5% | Dec 2023 5.3% | Mar 2024 5.2% | Jun 2024 4.2% | Sep 2024 5.2% | Dec 2024 3.9% | Mar 2025 4.9% | Jun 2025 4.1% | Sep 2025 4.6% | Dec 2025 2.5% | Mar 2026 3.0% | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 4.4% | Mar 2022 3.6% | Jun 2022 4.1% | Sep 2022 4.7% | Dec 2022 6.6% | Mar 2023 — | Jun 2023 5.1% | Sep 2023 5.0% | Dec 2023 — | Mar 2024 5.1% | Jun 2024 5.8% | Sep 2024 6.1% | Dec 2024 — | Mar 2025 5.8% | Jun 2025 4.5% | Sep 2025 8.9% | Dec 2025 — | Mar 2026 4.1% | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 0.0% | Mar 2022 3.3% | Jun 2022 1.4% | Sep 2022 1.4% | Dec 2022 1.4% | Mar 2023 — | Jun 2023 1.4% | Sep 2023 1.5% | Dec 2023 1.6% | Mar 2024 3.1% | Jun 2024 1.4% | Sep 2024 7.0% | Dec 2024 3.0% | Mar 2025 1.6% | Jun 2025 1.4% | Sep 2025 0.0% | Dec 2025 — | Mar 2026 3.4% | Jun 2026 1.7% | Sep 2026 —

## Debt Load & Balance-Sheet Headroom

What the numbers say: Snap-on Incorporated has the clearest covered balance-sheet capacity with $366 million net cash and gross debt of $1,279 million. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Evidence: The Eastern Company · $53 million | 92% versus #2 · Kennametal Inc. | 0/8 recent comparable periods | 9/9 companies · 158 observations

Definition: Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

### Gross debt — lowest gross debt
1. The Eastern Company (EML): ₹53 Cr
2. Kennametal Inc. (KMT): ₹660 Cr — older report
3. Hillman Solutions Corp. (HLMN): ₹812 Cr — older report
4. RBC Bearings Incorporated (RBC): ₹945 Cr — older report
5. The Toro Company (TTC): ₹1.1K Cr

### Net debt — lowest net debt
1. Snap-on Incorporated (SNA): ₹-366 Cr
2. The Eastern Company (EML): ₹45 Cr
3. Kennametal Inc. (KMT): ₹553 Cr — older report
4. Hillman Solutions Corp. (HLMN): ₹784 Cr — older report
5. RBC Bearings Incorporated (RBC): ₹888 Cr — older report

### 20-quarter Gross debt history
- SNA: Dec 2021 ₹1.2K Cr | Mar 2022 ₹1.2K Cr | Jun 2022 ₹1.2K Cr | Sep 2022 ₹1.2K Cr | Dec 2022 ₹1.2K Cr | Mar 2023 — | Jun 2023 ₹1.2K Cr | Sep 2023 ₹1.3K Cr | Dec 2023 ₹1.3K Cr | Mar 2024 ₹1.3K Cr | Jun 2024 ₹1.3K Cr | Sep 2024 ₹1.3K Cr | Dec 2024 ₹1.3K Cr | Mar 2025 ₹1.3K Cr | Jun 2025 ₹1.3K Cr | Sep 2025 ₹1.3K Cr | Dec 2025 — | Mar 2026 ₹1.3K Cr | Jun 2026 ₹1.3K Cr | Sep 2026 ₹1.3K Cr
- RBC: Dec 2021 ₹42 Cr | Mar 2022 ₹1.8K Cr | Jun 2022 ₹1.7K Cr | Sep 2022 ₹1.6K Cr | Dec 2022 ₹1.6K Cr | Mar 2023 — | Jun 2023 ₹1.4K Cr | Sep 2023 ₹1.4K Cr | Dec 2023 ₹1.3K Cr | Mar 2024 ₹1.2K Cr | Jun 2024 ₹1.2K Cr | Sep 2024 ₹1.2K Cr | Dec 2024 ₹1.0K Cr | Mar 2025 ₹980 Cr | Jun 2025 ₹975 Cr | Sep 2025 ₹1.1K Cr | Dec 2025 ₹1.1K Cr | Mar 2026 ₹945 Cr | Jun 2026 — | Sep 2026 —
- SWK: Dec 2021 ₹4.4K Cr | Mar 2022 ₹6.6K Cr | Jun 2022 ₹10.4K Cr | Sep 2022 ₹11.2K Cr | Dec 2022 ₹7.9K Cr | Mar 2023 — | Jun 2023 ₹7.9K Cr | Sep 2023 ₹7.9K Cr | Dec 2023 ₹7.2K Cr | Mar 2024 ₹7.8K Cr | Jun 2024 ₹6.6K Cr | Sep 2024 ₹6.5K Cr | Dec 2024 ₹6.1K Cr | Mar 2025 — | Jun 2025 ₹6.7K Cr | Sep 2025 ₹6.6K Cr | Dec 2025 — | Mar 2026 ₹5.9K Cr | Jun 2026 ₹6.5K Cr | Sep 2026 —
- LECO: Dec 2021 ₹770 Cr | Mar 2022 ₹866 Cr | Jun 2022 ₹838 Cr | Sep 2022 ₹780 Cr | Dec 2022 ₹1.2K Cr | Mar 2023 ₹1.2K Cr | Jun 2023 ₹1.1K Cr | Sep 2023 ₹1.1K Cr | Dec 2023 ₹1.1K Cr | Mar 2024 ₹1.1K Cr | Jun 2024 ₹1.1K Cr | Sep 2024 ₹1.3K Cr | Dec 2024 ₹1.3K Cr | Mar 2025 ₹1.3K Cr | Jun 2025 ₹1.3K Cr | Sep 2025 ₹1.2K Cr | Dec 2025 ₹1.3K Cr | Mar 2026 ₹1.3K Cr | Jun 2026 — | Sep 2026 —
- TKR: Dec 2021 ₹1.6K Cr | Mar 2022 ₹1.9K Cr | Jun 2022 ₹2.0K Cr | Sep 2022 ₹2.2K Cr | Dec 2022 ₹2.1K Cr | Mar 2023 ₹2.1K Cr | Jun 2023 ₹2.2K Cr | Sep 2023 ₹2.9K Cr | Dec 2023 ₹3.1K Cr | Mar 2024 ₹3.1K Cr | Jun 2024 ₹2.3K Cr | Sep 2024 ₹2.4K Cr | Dec 2024 ₹2.2K Cr | Mar 2025 ₹2.2K Cr | Jun 2025 ₹2.3K Cr | Sep 2025 ₹2.2K Cr | Dec 2025 ₹2.1K Cr | Mar 2026 ₹2.2K Cr | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 ₹761 Cr | Mar 2022 ₹1.2K Cr | Jun 2022 ₹1.2K Cr | Sep 2022 ₹1.1K Cr | Dec 2022 ₹1.1K Cr | Mar 2023 ₹1.2K Cr | Jun 2023 ₹1.1K Cr | Sep 2023 ₹1.2K Cr | Dec 2023 ₹1.2K Cr | Mar 2024 ₹1.3K Cr | Jun 2024 ₹1.1K Cr | Sep 2024 ₹1.1K Cr | Dec 2024 ₹1.0K Cr | Mar 2025 ₹1.2K Cr | Jun 2025 ₹1.2K Cr | Sep 2025 ₹1.1K Cr | Dec 2025 ₹1.0K Cr | Mar 2026 ₹1.2K Cr | Jun 2026 ₹1.1K Cr | Sep 2026 —
- KMT: Dec 2021 ₹651 Cr | Mar 2022 ₹669 Cr | Jun 2022 ₹663 Cr | Sep 2022 ₹724 Cr | Dec 2022 ₹717 Cr | Mar 2023 ₹701 Cr | Jun 2023 ₹639 Cr | Sep 2023 ₹670 Cr | Dec 2023 ₹666 Cr | Mar 2024 ₹656 Cr | Jun 2024 ₹646 Cr | Sep 2024 ₹648 Cr | Dec 2024 ₹642 Cr | Mar 2025 ₹653 Cr | Jun 2025 ₹643 Cr | Sep 2025 ₹642 Cr | Dec 2025 ₹644 Cr | Mar 2026 ₹660 Cr | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 ₹1.0K Cr | Mar 2022 ₹1.0K Cr | Jun 2022 ₹1.0K Cr | Sep 2022 ₹1.0K Cr | Dec 2022 ₹969 Cr | Mar 2023 — | Jun 2023 ₹992 Cr | Sep 2023 ₹927 Cr | Dec 2023 ₹836 Cr | Mar 2024 ₹856 Cr | Jun 2024 ₹834 Cr | Sep 2024 ₹836 Cr | Dec 2024 ₹793 Cr | Mar 2025 ₹811 Cr | Jun 2025 ₹777 Cr | Sep 2025 ₹784 Cr | Dec 2025 ₹765 Cr | Mar 2026 ₹812 Cr | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 ₹96 Cr | Mar 2022 ₹83 Cr | Jun 2022 ₹20 Cr | Sep 2022 ₹91 Cr | Dec 2022 ₹88 Cr | Mar 2023 — | Jun 2023 ₹72 Cr | Sep 2023 ₹21 Cr | Dec 2023 ₹62 Cr | Mar 2024 ₹61 Cr | Jun 2024 ₹59 Cr | Sep 2024 ₹63 Cr | Dec 2024 ₹60 Cr | Mar 2025 ₹63 Cr | Jun 2025 ₹57 Cr | Sep 2025 ₹55 Cr | Dec 2025 — | Mar 2026 ₹54 Cr | Jun 2026 ₹53 Cr | Sep 2026 —

### 20-quarter Net debt history
- SNA: Dec 2021 ₹499 Cr | Mar 2022 ₹455 Cr | Jun 2022 ₹374 Cr | Sep 2022 ₹429 Cr | Dec 2022 ₹479 Cr | Mar 2023 — | Jun 2023 ₹413 Cr | Sep 2023 ₹381 Cr | Dec 2023 ₹253 Cr | Mar 2024 ₹134 Cr | Jun 2024 ₹23 Cr | Sep 2024 ₹-56 Cr | Dec 2024 ₹-93 Cr | Mar 2025 ₹-161 Cr | Jun 2025 ₹-187 Cr | Sep 2025 ₹-262 Cr | Dec 2025 — | Mar 2026 ₹-361 Cr | Jun 2026 ₹-482 Cr | Sep 2026 ₹-366 Cr
- RBC: Dec 2021 ₹-1.3K Cr | Mar 2022 ₹1.6K Cr | Jun 2022 ₹1.6K Cr | Sep 2022 ₹1.5K Cr | Dec 2022 ₹1.5K Cr | Mar 2023 — | Jun 2023 ₹1.4K Cr | Sep 2023 ₹1.3K Cr | Dec 2023 ₹1.2K Cr | Mar 2024 ₹1.2K Cr | Jun 2024 ₹1.1K Cr | Sep 2024 ₹1.1K Cr | Dec 2024 ₹988 Cr | Mar 2025 ₹943 Cr | Jun 2025 ₹842 Cr | Sep 2025 ₹1.0K Cr | Dec 2025 ₹942 Cr | Mar 2026 ₹888 Cr | Jun 2026 — | Sep 2026 —
- SWK: Dec 2021 ₹4.1K Cr | Mar 2022 ₹6.5K Cr | Jun 2022 ₹10.3K Cr | Sep 2022 ₹10.9K Cr | Dec 2022 ₹7.5K Cr | Mar 2023 — | Jun 2023 ₹7.5K Cr | Sep 2023 ₹7.5K Cr | Dec 2023 ₹6.7K Cr | Mar 2024 ₹7.4K Cr | Jun 2024 ₹6.3K Cr | Sep 2024 ₹6.2K Cr | Dec 2024 ₹5.8K Cr | Mar 2025 — | Jun 2025 ₹6.4K Cr | Sep 2025 ₹6.3K Cr | Dec 2025 — | Mar 2026 ₹5.6K Cr | Jun 2026 ₹6.2K Cr | Sep 2026 —
- LECO: Dec 2021 ₹577 Cr | Mar 2022 ₹712 Cr | Jun 2022 ₹685 Cr | Sep 2022 ₹639 Cr | Dec 2022 ₹1.0K Cr | Mar 2023 ₹961 Cr | Jun 2023 ₹894 Cr | Sep 2023 ₹768 Cr | Dec 2023 ₹711 Cr | Mar 2024 ₹732 Cr | Jun 2024 ₹832 Cr | Sep 2024 ₹859 Cr | Dec 2024 ₹884 Cr | Mar 2025 ₹865 Cr | Jun 2025 ₹957 Cr | Sep 2025 ₹946 Cr | Dec 2025 ₹985 Cr | Mar 2026 ₹1.0K Cr | Jun 2026 — | Sep 2026 —
- TKR: Dec 2021 ₹1.3K Cr | Mar 2022 ₹1.5K Cr | Jun 2022 ₹1.7K Cr | Sep 2022 ₹1.9K Cr | Dec 2022 ₹1.7K Cr | Mar 2023 ₹1.8K Cr | Jun 2023 ₹1.9K Cr | Sep 2023 ₹2.5K Cr | Dec 2023 ₹2.7K Cr | Mar 2024 ₹2.7K Cr | Jun 2024 ₹1.8K Cr | Sep 2024 ₹2.0K Cr | Dec 2024 ₹1.8K Cr | Mar 2025 ₹1.9K Cr | Jun 2025 ₹1.9K Cr | Sep 2025 ₹1.8K Cr | Dec 2025 ₹1.7K Cr | Mar 2026 ₹1.9K Cr | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 ₹355 Cr | Mar 2022 ₹980 Cr | Jun 2022 ₹907 Cr | Sep 2022 ₹900 Cr | Dec 2022 ₹882 Cr | Mar 2023 ₹994 Cr | Jun 2023 ₹964 Cr | Sep 2023 ₹1.0K Cr | Dec 2023 ₹970 Cr | Mar 2024 ₹1.1K Cr | Jun 2024 ₹951 Cr | Sep 2024 ₹890 Cr | Dec 2024 ₹841 Cr | Mar 2025 ₹1.1K Cr | Jun 2025 ₹1.0K Cr | Sep 2025 ₹941 Cr | Dec 2025 ₹700 Cr | Mar 2026 ₹1.0K Cr | Jun 2026 ₹957 Cr | Sep 2026 —
- KMT: Dec 2021 ₹549 Cr | Mar 2022 ₹569 Cr | Jun 2022 ₹577 Cr | Sep 2022 ₹659 Cr | Dec 2022 ₹640 Cr | Mar 2023 ₹608 Cr | Jun 2023 ₹533 Cr | Sep 2023 ₹575 Cr | Dec 2023 ₹575 Cr | Mar 2024 ₹564 Cr | Jun 2024 ₹518 Cr | Sep 2024 ₹528 Cr | Dec 2024 ₹521 Cr | Mar 2025 ₹556 Cr | Jun 2025 ₹502 Cr | Sep 2025 ₹539 Cr | Dec 2025 ₹515 Cr | Mar 2026 ₹553 Cr | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 ₹990 Cr | Mar 2022 ₹1.0K Cr | Jun 2022 ₹1.0K Cr | Sep 2022 ₹983 Cr | Dec 2022 ₹938 Cr | Mar 2023 — | Jun 2023 ₹957 Cr | Sep 2023 ₹889 Cr | Dec 2023 ₹797 Cr | Mar 2024 ₹825 Cr | Jun 2024 ₹780 Cr | Sep 2024 ₹776 Cr | Dec 2024 ₹748 Cr | Mar 2025 ₹775 Cr | Jun 2025 ₹743 Cr | Sep 2025 ₹746 Cr | Dec 2025 ₹738 Cr | Mar 2026 ₹784 Cr | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 ₹87 Cr | Mar 2022 ₹77 Cr | Jun 2022 ₹15 Cr | Sep 2022 ₹84 Cr | Dec 2022 ₹83 Cr | Mar 2023 — | Jun 2023 ₹59 Cr | Sep 2023 ₹8 Cr | Dec 2023 ₹53 Cr | Mar 2024 ₹52 Cr | Jun 2024 ₹45 Cr | Sep 2024 ₹53 Cr | Dec 2024 ₹44 Cr | Mar 2025 ₹53 Cr | Jun 2025 ₹48 Cr | Sep 2025 ₹46 Cr | Dec 2025 — | Mar 2026 ₹47 Cr | Jun 2026 ₹45 Cr | Sep 2026 —

## Return On Capital Employed

What the numbers say: The Toro Company leads ROCE at 7.4%, 0.7 percentage points above Lincoln Electric Holdings, Inc.. Kennametal Inc. has the strongest latest improvement at +1.6 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: The Toro Company sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Evidence: The Toro Company · 7.4% | 10.4% versus #2 · Lincoln Electric Holdings, Inc. | 4/8 recent comparable periods | 9/9 companies · 158 observations

Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

### ROCE — highest
1. The Toro Company (TTC): 7.4%
2. Lincoln Electric Holdings, Inc. (LECO): 6.7% — older report
3. Snap-on Incorporated (SNA): 4.6%
4. Kennametal Inc. (KMT): 3.7% — older report
5. The Timken Company (TKR): 2.9% — older report

### ROCE change — fastest improvers
1. Kennametal Inc. (KMT): +1.6 pp — older report
2. The Toro Company (TTC): +1.0 pp
3. Lincoln Electric Holdings, Inc. (LECO): +0.5 pp — older report
4. RBC Bearings Incorporated (RBC): +0.4 pp — older report
5. The Timken Company (TKR): +0.2 pp — older report

### 20-quarter ROCE history
- SNA: Dec 2021 5.1% | Mar 2022 5.4% | Jun 2022 5.2% | Sep 2022 5.4% | Dec 2022 5.1% | Mar 2023 — | Jun 2023 5.4% | Sep 2023 5.7% | Dec 2023 5.2% | Mar 2024 5.3% | Jun 2024 5.4% | Sep 2024 4.9% | Dec 2024 4.9% | Mar 2025 4.6% | Jun 2025 4.7% | Sep 2025 4.8% | Dec 2025 — | Mar 2026 4.7% | Jun 2026 4.5% | Sep 2026 4.6%
- RBC: Dec 2021 0.9% | Mar 2022 0.5% | Jun 2022 2.0% | Sep 2022 2.2% | Dec 2022 2.1% | Mar 2023 — | Jun 2023 1.9% | Sep 2023 1.9% | Dec 2023 1.7% | Mar 2024 2.1% | Jun 2024 2.2% | Sep 2024 2.0% | Dec 2024 2.0% | Mar 2025 2.3% | Jun 2025 2.3% | Sep 2025 2.1% | Dec 2025 2.3% | Mar 2026 2.7% | Jun 2026 — | Sep 2026 —
- SWK: Dec 2021 2.2% | Mar 2022 0.6% | Jun 2022 1.2% | Sep 2022 0.5% | Dec 2022 0.4% | Mar 2023 — | Jun 2023 -0.4% | Sep 2023 0.1% | Dec 2023 0.0% | Mar 2024 0.8% | Jun 2024 0.3% | Sep 2024 0.9% | Dec 2024 1.2% | Mar 2025 — | Jun 2025 1.2% | Sep 2025 0.7% | Dec 2025 — | Mar 2026 1.9% | Jun 2026 1.0% | Sep 2026 —
- LECO: Dec 2021 6.7% | Mar 2022 9.1% | Jun 2022 9.2% | Sep 2022 7.8% | Dec 2022 6.8% | Mar 2023 7.8% | Jun 2023 8.2% | Sep 2023 7.9% | Dec 2023 8.2% | Mar 2024 6.5% | Jun 2024 5.8% | Sep 2024 5.6% | Dec 2024 6.7% | Mar 2025 6.2% | Jun 2025 7.2% | Sep 2025 6.4% | Dec 2025 6.7% | Mar 2026 6.7% | Jun 2026 — | Sep 2026 —
- TKR: Dec 2021 2.0% | Mar 2022 3.9% | Jun 2022 4.0% | Sep 2022 3.1% | Dec 2022 2.8% | Mar 2023 3.9% | Jun 2023 4.1% | Sep 2023 3.4% | Dec 2023 2.4% | Mar 2024 3.7% | Jun 2024 3.1% | Sep 2024 2.8% | Dec 2024 2.1% | Mar 2025 2.7% | Jun 2025 2.6% | Sep 2025 2.4% | Dec 2025 1.9% | Mar 2026 2.9% | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 3.7% | Mar 2022 4.2% | Jun 2022 7.8% | Sep 2022 7.3% | Dec 2022 6.7% | Mar 2023 5.5% | Jun 2023 8.6% | Sep 2023 -0.7% | Dec 2023 3.6% | Mar 2024 3.2% | Jun 2024 6.8% | Sep 2024 5.5% | Dec 2024 4.1% | Mar 2025 2.8% | Jun 2025 6.4% | Sep 2025 2.4% | Dec 2025 3.6% | Mar 2026 3.2% | Jun 2026 7.4% | Sep 2026 —
- KMT: Dec 2021 2.2% | Mar 2022 2.4% | Jun 2022 2.9% | Sep 2022 2.3% | Dec 2022 1.7% | Mar 2023 2.4% | Jun 2023 2.7% | Sep 2023 2.2% | Dec 2023 1.4% | Mar 2024 1.7% | Jun 2024 2.9% | Sep 2024 1.7% | Dec 2024 1.5% | Mar 2025 2.1% | Jun 2025 1.5% | Sep 2025 1.8% | Dec 2025 2.5% | Mar 2026 3.7% | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 5.0% | Mar 2022 0.6% | Jun 2022 2.0% | Sep 2022 0.0% | Dec 2022 0.2% | Mar 2023 — | Jun 2023 0.0% | Sep 2023 0.9% | Dec 2023 -5.9% | Mar 2024 0.7% | Jun 2024 1.5% | Sep 2024 1.2% | Dec 2024 -5.7% | Mar 2025 0.7% | Jun 2025 1.7% | Sep 2025 2.2% | Dec 2025 -5.8% | Mar 2026 0.3% | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 2.0% | Mar 2022 1.6% | Jun 2022 1.5% | Sep 2022 2.1% | Dec 2022 2.4% | Mar 2023 — | Jun 2023 1.0% | Sep 2023 1.1% | Dec 2023 2.7% | Mar 2024 1.6% | Jun 2024 2.8% | Sep 2024 3.3% | Dec 2024 1.5% | Mar 2025 1.6% | Jun 2025 1.6% | Sep 2025 0.9% | Dec 2025 — | Mar 2026 1.1% | Jun 2026 0.7% | Sep 2026 —

### 20-quarter ROCE change history
- SNA: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 0.0 pp | Mar 2023 — | Jun 2023 +0.2 pp | Sep 2023 +0.3 pp | Dec 2023 +0.1 pp | Mar 2024 — | Jun 2024 0.0 pp | Sep 2024 −0.8 pp | Dec 2024 −0.3 pp | Mar 2025 −0.7 pp | Jun 2025 −0.7 pp | Sep 2025 −0.1 pp | Dec 2025 — | Mar 2026 +0.1 pp | Jun 2026 −0.2 pp | Sep 2026 −0.2 pp
- RBC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +1.2 pp | Mar 2023 — | Jun 2023 −0.1 pp | Sep 2023 −0.3 pp | Dec 2023 −0.4 pp | Mar 2024 — | Jun 2024 +0.3 pp | Sep 2024 +0.1 pp | Dec 2024 +0.3 pp | Mar 2025 +0.2 pp | Jun 2025 +0.1 pp | Sep 2025 +0.1 pp | Dec 2025 +0.3 pp | Mar 2026 +0.4 pp | Jun 2026 — | Sep 2026 —
- SWK: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −1.8 pp | Mar 2023 — | Jun 2023 −1.6 pp | Sep 2023 −0.4 pp | Dec 2023 −0.4 pp | Mar 2024 — | Jun 2024 +0.7 pp | Sep 2024 +0.8 pp | Dec 2024 +1.2 pp | Mar 2025 — | Jun 2025 +0.9 pp | Sep 2025 −0.2 pp | Dec 2025 — | Mar 2026 — | Jun 2026 −0.2 pp | Sep 2026 —
- LECO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +0.1 pp | Mar 2023 −1.3 pp | Jun 2023 −1.0 pp | Sep 2023 +0.1 pp | Dec 2023 +1.4 pp | Mar 2024 −1.3 pp | Jun 2024 −2.4 pp | Sep 2024 −2.3 pp | Dec 2024 −1.5 pp | Mar 2025 −0.3 pp | Jun 2025 +1.4 pp | Sep 2025 +0.8 pp | Dec 2025 0.0 pp | Mar 2026 +0.5 pp | Jun 2026 — | Sep 2026 —
- TKR: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +0.8 pp | Mar 2023 0.0 pp | Jun 2023 +0.1 pp | Sep 2023 +0.3 pp | Dec 2023 −0.4 pp | Mar 2024 −0.2 pp | Jun 2024 −1.0 pp | Sep 2024 −0.6 pp | Dec 2024 −0.3 pp | Mar 2025 −1.0 pp | Jun 2025 −0.5 pp | Sep 2025 −0.4 pp | Dec 2025 −0.2 pp | Mar 2026 +0.2 pp | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +3.0 pp | Mar 2023 +1.3 pp | Jun 2023 +0.8 pp | Sep 2023 −8.0 pp | Dec 2023 −3.1 pp | Mar 2024 −2.3 pp | Jun 2024 −1.8 pp | Sep 2024 +6.2 pp | Dec 2024 +0.5 pp | Mar 2025 −0.4 pp | Jun 2025 −0.4 pp | Sep 2025 −3.1 pp | Dec 2025 −0.5 pp | Mar 2026 +0.4 pp | Jun 2026 +1.0 pp | Sep 2026 —
- KMT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −0.5 pp | Mar 2023 0.0 pp | Jun 2023 −0.2 pp | Sep 2023 −0.1 pp | Dec 2023 −0.3 pp | Mar 2024 −0.7 pp | Jun 2024 +0.2 pp | Sep 2024 −0.5 pp | Dec 2024 +0.1 pp | Mar 2025 +0.4 pp | Jun 2025 −1.4 pp | Sep 2025 +0.1 pp | Dec 2025 +1.0 pp | Mar 2026 +1.6 pp | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −4.8 pp | Mar 2023 — | Jun 2023 −2.0 pp | Sep 2023 +0.9 pp | Dec 2023 −6.1 pp | Mar 2024 — | Jun 2024 +1.5 pp | Sep 2024 +0.3 pp | Dec 2024 +0.2 pp | Mar 2025 0.0 pp | Jun 2025 +0.2 pp | Sep 2025 +1.0 pp | Dec 2025 −0.1 pp | Mar 2026 −0.4 pp | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +0.4 pp | Mar 2023 — | Jun 2023 −0.5 pp | Sep 2023 −1.0 pp | Dec 2023 +0.3 pp | Mar 2024 — | Jun 2024 +1.8 pp | Sep 2024 +2.2 pp | Dec 2024 −1.2 pp | Mar 2025 0.0 pp | Jun 2025 −1.2 pp | Sep 2025 −2.4 pp | Dec 2025 — | Mar 2026 −0.5 pp | Jun 2026 −0.9 pp | Sep 2026 —

## Valuation Against Growth & Quality

What the numbers say: The Toro Company has the lowest comparable Guarded PEG at 0.34×, 46% below The Timken Company. Only 5 of 9 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Evidence: The Toro Company · 0.34× | 46% versus #2 · The Timken Company | 0/8 recent comparable periods | 5/9 companies · 24 observations

Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

### Guarded PEG — lowest PEG
1. The Toro Company (TTC): 0.3
2. The Timken Company (TKR): 0.6 — older report
3. Kennametal Inc. (KMT): 0.8 — older report
4. Lincoln Electric Holdings, Inc. (LECO): 1.3 — older report
5. RBC Bearings Incorporated (RBC): 3.2 — older report

### P/E — lowest P/E
1. Kennametal Inc. (KMT): 20.4 — older report
2. Snap-on Incorporated (SNA): 20.6
3. The Eastern Company (EML): 21.3
4. The Timken Company (TKR): 22.9 — older report
5. Lincoln Electric Holdings, Inc. (LECO): 25.7 — older report

### 20-quarter Guarded PEG history
- RBC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 2.0 | Jun 2025 2.7 | Sep 2025 2.4 | Dec 2025 3.2 | Mar 2026 3.2 | Jun 2026 — | Sep 2026 —
- LECO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 0.5 | Jun 2023 0.7 | Sep 2023 1.4 | Dec 2023 1.4 | Mar 2024 1.5 | Jun 2024 2.7 | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 2.2 | Dec 2025 1.8 | Mar 2026 1.3 | Jun 2026 — | Sep 2026 —
- TKR: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 1.0 | Jun 2023 0.8 | Sep 2023 0.6 | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 0.5 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 3.7 | Dec 2024 0.7 | Mar 2025 0.5 | Jun 2025 0.3 | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 —
- KMT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 1.2 | Mar 2026 0.8 | Jun 2026 — | Sep 2026 —

### 20-quarter P/E history
- SNA: Dec 2021 14.3 | Mar 2022 14.4 | Jun 2022 13.2 | Sep 2022 12.4 | Dec 2022 12.2 | Mar 2023 — | Jun 2023 14.2 | Sep 2023 16.0 | Dec 2023 15.1 | Mar 2024 15.2 | Jun 2024 13.3 | Sep 2024 14.6 | Dec 2024 17.1 | Mar 2025 16.9 | Jun 2025 16.2 | Sep 2025 17.5 | Dec 2025 — | Mar 2026 17.9 | Jun 2026 18.5 | Sep 2026 20.6
- RBC: Dec 2021 55.2 | Mar 2022 119.5 | Jun 2022 125.4 | Sep 2022 107.3 | Dec 2022 66.8 | Mar 2023 — | Jun 2023 47.1 | Sep 2023 40.5 | Dec 2023 47.6 | Mar 2024 42.2 | Jun 2024 39.8 | Sep 2024 43.8 | Dec 2024 41.2 | Mar 2025 42.3 | Jun 2025 48.0 | Sep 2025 47.0 | Dec 2025 53.7 | Mar 2026 58.6 | Jun 2026 — | Sep 2026 —
- SWK: Dec 2021 16.5 | Mar 2022 20.2 | Jun 2022 18.4 | Sep 2022 19.1 | Dec 2022 21.1 | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 42.0 | Mar 2025 — | Jun 2025 27.1 | Sep 2025 26.1 | Dec 2025 — | Mar 2026 28.9 | Jun 2026 28.1 | Sep 2026 —
- LECO: Dec 2021 30.3 | Mar 2022 25.0 | Jun 2022 20.3 | Sep 2022 16.9 | Dec 2022 18.0 | Mar 2023 21.1 | Jun 2023 24.3 | Sep 2023 21.3 | Dec 2023 23.2 | Mar 2024 27.1 | Jun 2024 21.4 | Sep 2024 22.9 | Dec 2024 23.0 | Mar 2025 23.3 | Jun 2025 23.3 | Sep 2025 25.3 | Dec 2025 25.7 | Mar 2026 25.7 | Jun 2026 — | Sep 2026 —
- TKR: Dec 2021 14.5 | Mar 2022 12.4 | Jun 2022 10.7 | Sep 2022 11.9 | Dec 2022 12.9 | Mar 2023 14.6 | Jun 2023 15.5 | Sep 2023 12.4 | Dec 2023 14.7 | Mar 2024 16.7 | Jun 2024 16.4 | Sep 2024 17.5 | Dec 2024 14.3 | Mar 2025 15.5 | Jun 2025 16.5 | Sep 2025 17.8 | Dec 2025 20.5 | Mar 2026 22.9 | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 25.3 | Mar 2022 28.2 | Jun 2022 23.9 | Sep 2022 23.6 | Dec 2022 25.1 | Mar 2023 24.9 | Jun 2023 21.6 | Sep 2023 28.3 | Dec 2023 25.8 | Mar 2024 34.3 | Jun 2024 34.9 | Sep 2024 23.9 | Dec 2024 20.1 | Mar 2025 21.3 | Jun 2025 18.1 | Sep 2025 22.1 | Dec 2025 23.6 | Mar 2026 27.4 | Jun 2026 27.1 | Sep 2026 —
- KMT: Dec 2021 24.4 | Mar 2022 17.6 | Jun 2022 13.5 | Sep 2022 12.6 | Dec 2022 15.7 | Mar 2023 18.4 | Jun 2023 19.5 | Sep 2023 16.8 | Dec 2023 17.2 | Mar 2024 18.5 | Jun 2024 17.2 | Sep 2024 20.3 | Dec 2024 19.7 | Mar 2025 15.3 | Jun 2025 19.1 | Sep 2025 17.2 | Dec 2025 19.9 | Mar 2026 20.4 | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 — | Mar 2022 10.9 | Jun 2022 — | Sep 2022 743.0 | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 295.0 | Sep 2024 265.0 | Dec 2024 108.9 | Mar 2025 96.6 | Jun 2025 64.9 | Sep 2025 48.3 | Dec 2025 45.5 | Mar 2026 43.0 | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 23.9 | Mar 2022 9.7 | Jun 2022 23.3 | Sep 2022 8.6 | Dec 2022 6.9 | Mar 2023 — | Jun 2023 11.2 | Sep 2023 13.8 | Dec 2023 16.1 | Mar 2024 21.6 | Jun 2024 13.3 | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 20.7 | Dec 2025 — | Mar 2026 16.8 | Jun 2026 21.3 | Sep 2026 —

## Enterprise Value & Book Value

What the numbers say: Hillman Solutions Corp. leads ev/ebitda at 4.22×; The Eastern Company leads p/bv at 1×.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Evidence: Hillman Solutions Corp. · 4.22× | 56.7% versus #2 · Kennametal Inc. | 0/8 recent comparable periods | 9/9 companies · 150 observations

Definition: EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

### EV/EBITDA — lowest EV/EBITDA
1. Hillman Solutions Corp. (HLMN): 4.2 — older report
2. Kennametal Inc. (KMT): 9.8 — older report
3. The Eastern Company (EML): 11.3
4. The Timken Company (TKR): 11.3 — older report
5. Stanley Black & Decker, Inc. (SWK): 14.2

### P/BV — lowest P/BV
1. The Eastern Company (EML): 1.0
2. Stanley Black & Decker, Inc. (SWK): 1.2
3. Hillman Solutions Corp. (HLMN): 1.3 — older report
4. Kennametal Inc. (KMT): 2.0 — older report
5. The Timken Company (TKR): 2.2 — older report

### 20-quarter EV/EBITDA history
- SNA: Dec 2021 9.7 | Mar 2022 9.8 | Jun 2022 9.0 | Sep 2022 8.6 | Dec 2022 8.6 | Mar 2023 — | Jun 2023 10.1 | Sep 2023 11.4 | Dec 2023 11.0 | Mar 2024 11.1 | Jun 2024 9.7 | Sep 2024 10.5 | Dec 2024 12.3 | Mar 2025 12.1 | Jun 2025 11.5 | Sep 2025 12.4 | Dec 2025 — | Mar 2026 12.5 | Jun 2026 12.9 | Sep 2026 14.5
- RBC: Dec 2021 28.9 | Mar 2022 53.0 | Jun 2022 38.6 | Sep 2022 28.3 | Dec 2022 23.7 | Mar 2023 — | Jun 2023 19.9 | Sep 2023 17.8 | Dec 2023 21.1 | Mar 2024 20.2 | Jun 2024 19.0 | Sep 2024 21.5 | Dec 2024 21.6 | Mar 2025 22.8 | Jun 2025 26.1 | Sep 2025 26.0 | Dec 2025 29.1 | Mar 2026 32.2 | Jun 2026 — | Sep 2026 —
- SWK: Dec 2021 11.9 | Mar 2022 16.4 | Jun 2022 17.1 | Sep 2022 17.1 | Dec 2022 15.4 | Mar 2023 — | Jun 2023 32.7 | Sep 2023 38.7 | Dec 2023 35.1 | Mar 2024 27.7 | Jun 2024 22.3 | Sep 2024 23.9 | Dec 2024 15.8 | Mar 2025 — | Jun 2025 13.4 | Sep 2025 15.4 | Dec 2025 — | Mar 2026 14.0 | Jun 2026 14.2 | Sep 2026 —
- LECO: Dec 2021 16.2 | Mar 2022 14.5 | Jun 2022 12.1 | Sep 2022 11.8 | Dec 2022 13.5 | Mar 2023 15.4 | Jun 2023 17.4 | Sep 2023 15.1 | Dec 2023 16.3 | Mar 2024 19.0 | Jun 2024 14.9 | Sep 2024 15.6 | Dec 2024 15.8 | Mar 2025 15.7 | Jun 2025 16.0 | Sep 2025 17.3 | Dec 2025 17.3 | Mar 2026 17.5 | Jun 2026 — | Sep 2026 —
- TKR: Dec 2021 9.8 | Mar 2022 8.7 | Jun 2022 7.8 | Sep 2022 8.6 | Dec 2022 9.0 | Mar 2023 9.9 | Jun 2023 10.3 | Sep 2023 9.1 | Dec 2023 9.8 | Mar 2024 10.3 | Jun 2024 9.1 | Sep 2024 9.6 | Dec 2024 8.3 | Mar 2025 8.9 | Jun 2025 9.2 | Sep 2025 9.3 | Dec 2025 10.0 | Mar 2026 11.3 | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 16.8 | Mar 2022 19.5 | Jun 2022 16.5 | Sep 2022 16.3 | Dec 2022 17.3 | Mar 2023 17.5 | Jun 2023 15.4 | Sep 2023 19.2 | Dec 2023 17.0 | Mar 2024 21.6 | Jun 2024 21.3 | Sep 2024 15.9 | Dec 2024 13.6 | Mar 2025 14.4 | Jun 2025 12.5 | Sep 2025 14.5 | Dec 2025 14.5 | Mar 2026 17.5 | Jun 2026 16.9 | Sep 2026 —
- KMT: Dec 2021 10.8 | Mar 2022 8.6 | Jun 2022 7.2 | Sep 2022 6.9 | Dec 2022 7.8 | Mar 2023 8.6 | Jun 2023 8.7 | Sep 2023 8.0 | Dec 2023 8.4 | Mar 2024 8.6 | Jun 2024 7.8 | Sep 2024 8.7 | Dec 2024 8.1 | Mar 2025 7.2 | Jun 2025 8.2 | Sep 2025 7.7 | Dec 2025 9.0 | Mar 2026 9.8 | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 — | Mar 2022 8.6 | Jun 2022 5.9 | Sep 2022 3.9 | Dec 2022 14.6 | Mar 2023 — | Jun 2023 16.7 | Sep 2023 17.8 | Dec 2023 14.2 | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 4.0 | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 4.2 | Mar 2026 — | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 10.5 | Mar 2022 9.5 | Jun 2022 7.0 | Sep 2022 8.7 | Dec 2022 7.7 | Mar 2023 — | Jun 2023 9.0 | Sep 2023 6.9 | Dec 2023 8.5 | Mar 2024 11.0 | Jun 2024 7.4 | Sep 2024 9.3 | Dec 2024 8.0 | Mar 2025 8.7 | Jun 2025 8.9 | Sep 2025 11.1 | Dec 2025 — | Mar 2026 9.6 | Jun 2026 11.3 | Sep 2026 —

### 20-quarter P/BV history
- SNA: Dec 2021 2.8 | Mar 2022 2.8 | Jun 2022 2.5 | Sep 2022 2.4 | Dec 2022 2.5 | Mar 2023 — | Jun 2023 2.8 | Sep 2023 3.2 | Dec 2023 3.0 | Mar 2024 3.0 | Jun 2024 2.6 | Sep 2024 2.8 | Dec 2024 3.3 | Mar 2025 3.1 | Jun 2025 2.8 | Sep 2025 3.1 | Dec 2025 — | Mar 2026 3.1 | Jun 2026 3.2 | Sep 2026 3.5
- RBC: Dec 2021 1.9 | Mar 2022 2.5 | Jun 2022 2.4 | Sep 2022 2.2 | Dec 2022 2.5 | Mar 2023 — | Jun 2023 2.7 | Sep 2023 2.4 | Dec 2023 3.1 | Mar 2024 3.0 | Jun 2024 2.8 | Sep 2024 3.2 | Dec 2024 3.2 | Mar 2025 3.4 | Jun 2025 3.9 | Sep 2025 3.8 | Dec 2025 4.4 | Mar 2026 5.0 | Jun 2026 — | Sep 2026 —
- SWK: Dec 2021 2.5 | Mar 2022 2.7 | Jun 2022 2.3 | Sep 2022 1.8 | Dec 2022 1.2 | Mar 2023 — | Jun 2023 1.3 | Sep 2023 1.5 | Dec 2023 1.7 | Mar 2024 1.7 | Jun 2024 1.4 | Sep 2024 1.9 | Dec 2024 1.4 | Mar 2025 — | Jun 2025 1.1 | Sep 2025 1.3 | Dec 2025 — | Mar 2026 1.3 | Jun 2026 1.2 | Sep 2026 —
- LECO: Dec 2021 9.5 | Mar 2022 9.3 | Jun 2022 7.8 | Sep 2022 7.9 | Dec 2022 8.1 | Mar 2023 8.7 | Jun 2023 9.5 | Sep 2023 8.5 | Dec 2023 9.5 | Mar 2024 11.1 | Jun 2024 8.1 | Sep 2024 8.1 | Dec 2024 7.9 | Mar 2025 7.9 | Jun 2025 8.3 | Sep 2025 9.2 | Dec 2025 8.9 | Mar 2026 9.0 | Jun 2026 — | Sep 2026 —
- TKR: Dec 2021 2.3 | Mar 2022 2.0 | Jun 2022 1.8 | Sep 2022 2.1 | Dec 2022 2.3 | Mar 2023 2.5 | Jun 2023 2.6 | Sep 2023 2.1 | Dec 2023 2.2 | Mar 2024 2.4 | Jun 2024 2.0 | Sep 2024 2.0 | Dec 2024 1.8 | Mar 2025 1.7 | Jun 2025 1.6 | Sep 2025 1.7 | Dec 2025 1.8 | Mar 2026 2.2 | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 8.7 | Mar 2022 9.0 | Jun 2022 6.9 | Sep 2022 7.0 | Dec 2022 8.1 | Mar 2023 8.2 | Jun 2023 7.1 | Sep 2023 7.1 | Dec 2023 5.6 | Mar 2024 6.3 | Jun 2024 5.6 | Sep 2024 5.7 | Dec 2024 5.3 | Mar 2025 5.7 | Jun 2025 4.7 | Sep 2025 5.1 | Dec 2025 5.0 | Mar 2026 6.3 | Jun 2026 6.6 | Sep 2026 —
- KMT: Dec 2021 2.3 | Mar 2022 1.8 | Jun 2022 1.5 | Sep 2022 1.4 | Dec 2022 1.6 | Mar 2023 1.7 | Jun 2023 1.8 | Sep 2023 1.6 | Dec 2023 1.6 | Mar 2024 1.6 | Jun 2024 1.5 | Sep 2024 1.6 | Dec 2024 1.5 | Mar 2025 1.3 | Jun 2025 1.4 | Sep 2025 1.2 | Dec 2025 1.7 | Mar 2026 2.0 | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 1.8 | Mar 2022 1.8 | Jun 2022 1.6 | Sep 2022 1.2 | Dec 2022 1.2 | Mar 2023 — | Jun 2023 1.4 | Sep 2023 1.5 | Dec 2023 1.6 | Mar 2024 1.8 | Jun 2024 1.5 | Sep 2024 1.8 | Dec 2024 1.6 | Mar 2025 1.5 | Jun 2025 1.2 | Sep 2025 1.5 | Dec 2025 1.5 | Mar 2026 1.3 | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 1.4 | Mar 2022 1.4 | Jun 2022 1.2 | Sep 2022 1.1 | Dec 2022 0.9 | Mar 2023 — | Jun 2023 1.0 | Sep 2023 0.9 | Dec 2023 1.0 | Mar 2024 1.6 | Jun 2024 1.2 | Sep 2024 1.7 | Dec 2024 1.4 | Mar 2025 1.3 | Jun 2025 1.1 | Sep 2025 1.2 | Dec 2025 — | Mar 2026 1.0 | Jun 2026 1.0 | Sep 2026 —

## Market action

The Timken Company has the strongest one-year price move in Tools & Accessories at +90.4%. It also leads on Mansfield relative strength against the S&P 500 at +31.8%. 7 of 9 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.

### Strongest one-year price performers
1. The Timken Company (TKR): 90%
2. RBC Bearings Incorporated (RBC): 46%
3. Kennametal Inc. (KMT): 46%
4. Stanley Black & Decker, Inc. (SWK): 41%
5. Snap-on Incorporated (SNA): 32%

### Strongest relative strength versus NIFTY 500
1. The Timken Company (TKR): 32%
2. Stanley Black & Decker, Inc. (SWK): 13%
3. RBC Bearings Incorporated (RBC): 9.1%
4. Snap-on Incorporated (SNA): 8.0%
5. Kennametal Inc. (KMT): 7.5%

## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 5 companies have older fundamental reporting dates than the sector’s freshest reporters; their ranks carry a stale marker.

## Every company
- Snap-on Incorporated (SNA) — market value ₹21.7K Cr; latest fundamentals Sep 2026
- RBC Bearings Incorporated (RBC) — market value ₹18.2K Cr; latest fundamentals Mar 2026
- Stanley Black & Decker, Inc. (SWK) — market value ₹14.6K Cr; latest fundamentals Jun 2026
- Lincoln Electric Holdings, Inc. (LECO) — market value ₹14.6K Cr; latest fundamentals Mar 2026
- The Timken Company (TKR) — market value ₹9.7K Cr; latest fundamentals Mar 2026
- The Toro Company (TTC) — market value ₹9.1K Cr; latest fundamentals Jun 2026
- Kennametal Inc. (KMT) — market value ₹2.7K Cr; latest fundamentals Mar 2026
- Hillman Solutions Corp. (HLMN) — market value ₹1.6K Cr; latest fundamentals Mar 2026
- The Eastern Company (EML) — market value ₹147 Cr; latest fundamentals Jun 2026

## Methodology and freshness

Fundamentals through Sep 2026; prices through 2026-07-28.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### Which Tools & Accessories company is the biggest?

The Timken Company is the largest, with trailing-twelve-month revenue of $4,672 million, ahead of The Toro Company at $4,658 million. That covers 5 of 9 companies with comparable reporting through Mar 2026.

### Which Tools & Accessories company is growing fastest?

RBC Bearings Incorporated has the fastest revenue growth at 14.4% year on year, across 5 of 9 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

### Which Tools & Accessories company has the best profit margins?

Snap-on Incorporated has the highest operating margin at 26.4%, from 9 of 9 comparable companies. Kennametal Inc. shows the biggest recent improvement, at +4.3 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Tools & Accessories company makes the most profit?

Lincoln Electric Holdings, Inc. earns the most, at $538 million of trailing-twelve-month net profit, from 6 of 9 comparable companies. Kennametal Inc. has the fastest profit growth at 27.4%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Tools & Accessories company earns the highest return on capital?

The Toro Company leads on return on capital employed at 7.4%, across 9 of 9 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which Tools & Accessories stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — The Toro Company screens cheapest at 0.34×. Only 5 of 9 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Which Tools & Accessories company has the strongest balance sheet?

The Eastern Company carries the lowest comparable gross debt at $53 million, from 9 of 9 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

### Which Tools & Accessories company is investing most in new capacity?

Stanley Black & Decker, Inc. reports the largest capital spending at $59 million, across 9 of 9 companies. Spending consumes cash before it earns anything, so treat the ranking as a diligence queue: check commissioning, utilisation and the return earned on the completed assets before reading spend as value creation.

### Is the Tools & Accessories sector beating the market?

Tools & Accessories has outperformed S&P 500 by 14.9% over the last 52 weeks and 4.6% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 7 of 9 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which Tools & Accessories stock has the strongest price momentum?

The Timken Company has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Tools & Accessories company scores highest for research priority?

The Timken Company scores 62.6 out of 100 with 66.6% evidence confidence, from 16.3 points on growth and earnings, 12.5 on capital efficiency, 14.4 on valuation and 19.4 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Tools & Accessories companies does this comparison cover, and over what period?

It compares 9 listed companies over up to 20 reported quarters of fundamentals and 6 fiscal years of capital allocation, ending Sep 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Tools & Accessories sector?

The 9 Tools & Accessories companies on this page carry $92,421 million of combined market value. Snap-on Incorporated is the largest at $21,690 million, about 23% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.

### What is the Tools & Accessories sector's P/E ratio?

The median price-to-earnings ratio across the 9 Tools & Accessories companies on this page is 25.7×, measured on the 9 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.

### How is the Tools & Accessories sector performing?

7 of the 9 covered Tools & Accessories companies are beating S&P 500 on Mansfield relative strength. The sector itself is 14.9% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.

### How many Tools & Accessories stocks are listed in the US?

This comparison covers 9 listed Tools & Accessories companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Sep 2026. Membership is the full industry list — nothing is dropped for having thin data.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

Narrative sector analysis: https://www.sectoralpha.in/sectors/tools-accessories