Lennox International (LII) 10-K Summary — Year Ended Dec 31, 2025
Lennox International Inc. filed its annual report for the most recent fiscal year. The filing describes the company's business, risk factors, and financial condition, including a decrease in operating cash flow driven by higher working capital needs.
Key takeaway
Year ended Dec 31, 2025 · FY2025 10-K
Lennox International Inc. filed its annual report for the most recent fiscal year. The filing describes the company's business, risk factors, and financial condition, including a decrease in operating cash flow driven by higher working capital needs.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$5.2B
Revenue reported for the fiscal year.
Operating income
$1B
Income from operations reported for the year.
Net income
$805.8M
Net income reported for the year.
Operating cash flow
$757.6M
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Mar 31, 2025 | $1.1B | -79.9% |
| Jun 30, 2025 | $1.5B | +39.9% |
| Sep 30, 2025 | $1.4B | -4.9% |
| Dec 31, 2025 | $5.2B | +264.1% |
Business overview
Lennox International Inc. operates in the heating, ventilation, air conditioning, and refrigeration markets. The company's business overview is outlined in Item 1 of the filing, and it also addresses risk factors, unresolved staff comments, and cybersecurity matters.
Financial performance
Revenue for the period was reported at a level consistent with the company's scale, with operating income and net income also disclosed. Operating cash flow decreased compared to the prior period, primarily due to an increase in net working capital.
Material risks
The filing identifies risk factors in Item 1A, though specific details are not elaborated in the supplied context. The company notes that working capital needs are generally greater in the first and second quarters due to the seasonal nature of its business cycle.
Liquidity and capital
Liquidity and capital requirements are generally met through internally generated funds, bank lines of credit, and a commercial paper program. Investing activities increased significantly due to acquisitions, partially offset by lower capital expenditures.
What to watch
Monitor the trend in net working capital changes, as an increase contributed to the decline in operating cash flow.