Allegion plcALLE
NYSE•Industrials•Security & Protection Services
Allegion plc engages in the provision of security products and solutions worldwide. It is operating through two segments: Allegion Americas and Allegion International. The company offers door controls, door control system, and exit devices; doors, glass and door systems, and accessories; electronic security products and access control systems, including time, attendance, and workforce productivity; and locks, locksets, portable locks, and key systems. It also provides services and software, such as inspection, maintenance, and repair services for its automatic entrance solutions; software as a service, including access control, platform integration, and workforce management solutions; and ongoing aftermarket services, and design and installation offerings. In addition, the company sells its products and solutions to end-users in commercial, institutional, and residential facilities, including education, healthcare, government, hospitality, retail, commercial office, and single and multi-family residential markets under the CISA, Interflex, LCN, Schlage, SimonsVoss, and Von Duprin brands. It sells its products and solutions through distribution and retail channels, such as specialty distribution, e-commerce, and wholesalers, as well as through various retail channels comprising do-it-yourself home improvement centers, online and e-commerce platforms, and small specialty showroom outlets. Allegion plc was incorporated in 2013 and is based in Dublin, Ireland.
Allegion plc (ALLE) reported trailing twelve months revenue of $4.16B as of March 2026, a 8.9% increase year-over-year. Quarterly revenue reached $1.03B, reflecting continued top-line momentum.
Allegion plc generated $633.70M in TTM net income, with quarterly EBITDA of $195.30M. The operating margin contracted from 20.9% to 18.9%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (18.9%) and net margin (13.4%) indicates moderate non-operating costs. Net margin has narrowed from 15.7% a year ago, reflecting increased costs or interest expense.
ALLE trades at a P/E of 18.4x (in line with broad market averages) and a P/S of 2.8x. The price-to-book ratio of 5.6x indicates a significant premium over book value.
The company generated $80.30M in free cash flow over the trailing twelve months, a 3.7% decrease year-over-year, indicating cash generation ability. The balance sheet shows $5.31B in total assets with $2.03B in long-term debt against $2.10B in stockholders equity for a debt-to-equity ratio of 1.0. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~20.8% on average, but show some variability — pricing power may be sensitive to market conditions.
Consistently high ROE averaging 35.4% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~13.2% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~20.6% — no sign of cost or pricing stress.
FCF covers net income by 1.0x on average — earnings are well-supported by cash generation.
D/E ratio is 1.0 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.