Short answer
Allegion (ALLE) filed its fiscal 2025 10-K annual report with the SEC on Feb 17, 2026. It reported revenue of $4.1B (+7.8% year over year) and net income of $644M.
- Top risk flagged: U.S. tariffs on imports from various countries including Mexico increase COGS exposure with 20-25% sourced from Mexico, less than 5% from China, and 5-10% other non-US countries
FY2025 key financial metrics · XBRL
- Revenue
- $4.1B
- +7.8% YoY
- Net income
- $644M
- +7.7% YoY
- Operating margin
- 21.1%
- +0.4 pp YoY
- EPS (diluted)
- $7.44
- +9.1% YoY
- ROE
- 31.1%
- −8.7 pp YoY
- Operating cash flow
- $784M
- +16.1% YoY
Source: XBRL data from the Allegion (ALLE) FY2025 10-K on SEC EDGAR. USD.
Allegion FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Global operations with complex tax and environmental compliance responsibilities
- Emphasis on risks related to evolving global tax reforms, incl. OECD global minimum tax (GMT) implementation affecting effective tax rate
- Strategic complexity increased by Irish incorporation, exposing Allegion to unique legal and tax jurisdictional risks vs prior filings
- Notable: Board authorized to issue up to 40% of issued ordinary shares (20% general plus 20% for cash) pending shareholder renewal
- Unusual: Irish law restricts shareholder actions and takeover attempts, creating governance and acquisition deterrents unique to this filing year
Management Discussion & Analysis
- Revenue $4.067B, up 7.8% YoY ($295.1M); Americas +6.9% ($206.4M), International +11.7% ($88.7M)
- Operating margin 21.1% vs 20.7%, operating income $859.5M vs $780.7M, Americas best at 27.9% margin, International worst at 9.0%
- Americas segment operating income $896.5M, up 9.8%; International segment operating income $76.5M, up 15.4%
- Operating cash flow $783.8M (+$108.8M YoY); investing cash flow -$685.5M (higher acquisitions/capex); financing cash flow -$266.7M (less buybacks, higher dividends)
- Management expects sufficient liquidity for 12+ months; notes risks from inflation, restructuring expenses, and mixed macro conditions internationally
Risk Factors
- U.S. tariffs on imports from various countries including Mexico increase COGS exposure with 20-25% sourced from Mexico, less than 5% from China, and 5-10% other non-US countries
- Acquisition of ELATEC in July 2025 expands electronic security product portfolio, contributing $93.0 million in net revenues since acquisition
- Increased unsecured revolving credit facility commitment from $750M to $1.0B, with $190.6M outstanding borrowings as of December 31, 2025
- Quarterly dividends totaling $175.3 million paid in 2025, reflecting ongoing shareholder return commitment amid market uncertainties
- Competitive pressure from expanding electronic security solutions market driven by acquisitions and integration of complementary software and services
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