olivLaw · US equity research
Allegion plc ALLE
Services-Detective, Guard & Armored Car Services · SIC 7381 · Vertical: Services-Detective, Guard & Armored Car Services (SIC 7381)
Allegion plc is a global provider of security products and solutions, with long-established brands such as Schlage, Von Duprin and LCN that equip commercial, institutional and residential buildings. It reported net revenues of 4067.3 million USD in fiscal 2025, and in the third quarter of 2026 announced solid organic growth and a raised outlook.
At the close of 04 Nov 2026, Allegion plc (ALLE) stock was 192.69 USD (+1.76% on the day), with market capitalisation 16.2 bn USD, P/E 24.0 on diluted EPS of 8.03 USD over the last 12 months, dividend yield 1.12%, beta 0.59, 52-week range 125.65–192.69 USD. Latest reported quarter (Q3 2026): revenue of 1.2 bn USD (+9.6% YoY), net income of 220.9 m USD (+17.3% YoY), diluted EPS 2.59 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 80.7
- overbought (≥ 70)
- Bollinger (20, 2)
- 137.56 – 200.66
- in the upper half of the band · %B 0.87 · band width 37.3%
- SMA 50 / 200
- 160.23 / 150.92
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 9.68 / 7.05
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +25.4% | −1.1% | +26.5 pp | — |
| 3 months | +14.3% | −0.5% | +14.8 pp | — |
| 6 months | +42.4% | +4.4% | +38.0 pp | — |
| Year to date | +21.0% | +12.3% | +8.7 pp | — |
| 1 year | +16.4% | +13.5% | +2.9 pp | −36.8% |
| 3 years | +89.1% | +76.4% | +12.7 pp | +67.4% |
| 5 years | +46.6% | +63.7% | −17.0 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 945.6 m | 941.9 m | 1.0 bn | 1.1 bn | 1.0 bn | 1.0 bn | 1.2 bn | 1.2 bn |
| Cost of revenue | 528.9 m | 519.4 m | 555.5 m | 580.4 m | 573.7 m | 579.1 m | 634.0 m | 624.4 m |
| SG&A | 232.1 m | 226.1 m | 246.8 m | 256.0 m | 249.9 m | 259.2 m | 262.8 m | 263.6 m |
| Operating income | 184.6 m | 196.4 m | 219.7 m | 233.8 m | 209.6 m | 195.3 m | 254.7 m | 284.6 m |
| Depreciation & amortisation | 26.9 m | 30.0 m | 31.9 m ≈ | 36.7 m ≈ | 31.1 m | 35.6 m | 35.7 m ≈ | 36.1 m ≈ |
| Interest expense | 25.2 m | 24.7 m | 24.6 m | 26.6 m | 25.1 m | 24.2 m | 24.8 m | 24.2 m |
| Pre-tax income | 162.3 m | 175.2 m | 200.4 m | 208.9 m | 183.9 m | 171.5 m | 227.9 m | 267.8 m |
| Income tax | 18.2 m | 27.0 m | 40.7 m | 20.5 m | 36.4 m | 33.4 m | 43.3 m | 46.9 m |
| Net income | 144.1 m | 148.2 m | 159.7 m | 188.4 m | 147.5 m | 138.1 m | 184.6 m | 220.9 m |
| Diluted EPS | 1.66 ≈ | 1.71 | 1.85 | 2.18 | 1.70 ≈ | 1.59 | 2.15 | 2.59 |
| Operating cash flow | 219.0 m | 104.5 m | 209.7 m ≈ | 229.5 m ≈ | 240.1 m | 101.3 m | 198.4 m ≈ | 304.3 m ≈ |
| Capex | 24.1 m | 21.1 m | 17.7 m ≈ | 19.7 m ≈ | 39.6 m | 21.0 m | 17.9 m ≈ | 25.7 m ≈ |
| Dividends paid | 41.4 m | 43.6 m | 44.2 m ≈ | 43.6 m ≈ | 43.9 m | 47.4 m | 46.6 m ≈ | 46.2 m ≈ |
| Share repurchases | 100.0 m | 40.0 m | 40.0 m | 0 ≈ | 0 | 40.6 m | 120.0 m | 119.8 m |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 55 percentile of its own 40-quarter history (min 16.5, median 22.2, max 34.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.7 bn | 2.9 bn | 2.7 bn | 2.9 bn | 3.3 bn | 3.7 bn | 3.8 bn | 4.1 bn |
| Revenue YoY | +13.4% | +4.5% | −4.7% | +5.4% | +14.1% | +11.6% | +3.3% | +7.8% |
| Net income | 434.9 m | 401.8 m | 314.3 m | 483.0 m | 458.0 m | 540.4 m | 597.5 m | 643.8 m |
| Net income YoY | +59.1% | −7.6% | −21.8% | +53.7% | −5.2% | +18.0% | +10.6% | +7.7% |
| Diluted EPS | 4.54 | 4.26 | 3.39 | 5.34 | 5.19 | 6.12 | 6.82 | 7.44 |
| Diluted EPS YoY | +59.3% | −6.2% | −20.4% | +57.5% | −2.8% | +17.9% | +11.4% | +9.1% |
| net % | 15.9% | 14.1% | 11.6% | 16.8% | 14.0% | 14.8% | 15.8% | 15.8% |
| Free cash flow | 408.7 m | 422.6 m | 443.2 m | 443.2 m | 395.5 m | 516.4 m | 582.9 m | 685.7 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 356.2 m USD
- Financial debt
- 2.0 bn USD
- Net debt
- 1.6 bn USD
- Equity
- 2.1 bn USD
- Total assets
- 5.2 bn USD
- Debt / equity
- 0.96x
- Current ratio
- 1.84x
- ROE
- 36.1%
- ROA
- 13.3%
- FCF margin
- 16.9%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 2.7 bn | 2.9 bn | 3.3 bn | 3.7 bn | 3.8 bn | 4.1 bn | SEC (XBRL)· 17 Feb 2026verified |
| Cost of revenue | 1.5 bn | 1.7 bn | 1.9 bn | 2.1 bn | 2.1 bn | 2.2 bn | SEC (XBRL)· 17 Feb 2026verified |
| Gross profit | 1.2 bn ≈ | 1.2 bn ≈ | 1.3 bn ≈ | 1.6 bn ≈ | 1.7 bn ≈ | 1.8 bn ≈ | SEC (XBRL)· 17 Feb 2026derived |
| Research & development | 54.4 m | 73.3 m | 74.5 m | 101.9 m | 112.7 m | 132.0 m | SEC (XBRL)· 17 Feb 2026verified |
| SG&A | 635.7 m | 674.7 m | 736.0 m | 865.6 m | 887.8 m | 978.8 m | SEC (XBRL)· 17 Feb 2026verified |
| Operating income | 403.5 m | 530.2 m | 586.4 m | 708.4 m | 780.7 m | 859.5 m | SEC (XBRL)· 17 Feb 2026verified |
| Depreciation & amortisation | 78.0 m | 79.2 m | 95.1 m | 109.0 m | 116.2 m | 129.7 m | SEC (XBRL)· 17 Feb 2026verified |
| EBITDA | 481.5 m ≈ | 609.4 m ≈ | 681.5 m ≈ | 817.4 m ≈ | 896.9 m ≈ | 989.2 m ≈ | SEC (XBRL)· 17 Feb 2026derived |
| Interest expense | 51.1 m | 50.2 m | 75.9 m | 93.1 m | 102.0 m | 101.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Pre-tax income | 365.4 m | 524.0 m | 514.5 m | 617.2 m | 698.8 m | 768.4 m | SEC (XBRL)· 17 Feb 2026verified |
| Income tax | 50.9 m | 40.7 m | 56.2 m | 76.6 m | 101.3 m | 124.6 m | SEC (XBRL)· 17 Feb 2026verified |
| Net income | 314.3 m | 483.0 m | 458.0 m | 540.4 m | 597.5 m | 643.8 m | SEC (XBRL)· 17 Feb 2026verified |
| Diluted EPS | 3.39 | 5.34 | 5.19 | 6.12 | 6.82 | 7.44 | SEC (XBRL)· 17 Feb 2026verified |
| Weighted average diluted shares | 92.8 m | 90.5 m | 88.3 m | 88.3 m | 87.6 m | 86.6 m | SEC (XBRL)· 17 Feb 2026verified |
| Dividend per share | 1.28 | 1.44 | 1.64 | 1.80 | 1.92 | 2.04 | SEC (XBRL)· 17 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 480.4 m | 397.9 m | 288.0 m | 468.1 m | 503.8 m | 356.2 m | SEC (XBRL)· 17 Feb 2026verified |
| Inventories | 283.1 m | 380.4 m | 479.0 m | 438.5 m | 423.0 m | 519.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Current assets | 1.1 bn | 1.1 bn | 1.2 bn | 1.4 bn | 1.4 bn | 1.4 bn | SEC (XBRL)· 17 Feb 2026verified |
| Property, plant & equipment, net | 294.9 m | 283.7 m | 308.7 m | 358.1 m | 385.3 m | 444.6 m | SEC (XBRL)· 17 Feb 2026verified |
| Goodwill | 819.0 m | 803.8 m | 1.4 bn | 1.4 bn | 1.5 bn | 1.9 bn | SEC (XBRL)· 17 Feb 2026verified |
| Intangibles (excl. goodwill) | 487.1 m | 447.5 m | 608.9 m | 572.8 m | 569.0 m | 826.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Total assets | 3.1 bn | 3.1 bn | 4.0 bn | 4.3 bn | 4.5 bn | 5.2 bn | SEC (XBRL)· 17 Feb 2026verified |
| Accounts payable | 220.4 m | 259.1 m | 280.7 m | 259.2 m | 258.0 m | 244.8 m | SEC (XBRL)· 17 Feb 2026verified |
| Short-term debt | 200.0 k | 12.6 m | 12.6 m | 412.6 m | 21.9 m | 200.0 k | SEC (XBRL)· 17 Feb 2026verified |
| Long-term debt | 1.4 bn | 1.4 bn | 2.1 bn | 1.6 bn | 2.0 bn | 2.0 bn | SEC (XBRL)· 17 Feb 2026verified |
| Current liabilities | 521.5 m | 601.2 m | 703.6 m | 1.1 bn | 696.9 m | 755.4 m | SEC (XBRL)· 17 Feb 2026verified |
| Total liabilities | 2.2 bn | 2.3 bn | 3.0 bn | 3.0 bn | 3.0 bn | 3.2 bn | SEC (XBRL)· 17 Feb 2026verified |
| Equity | 832.6 m | 762.4 m | 944.5 m | 1.3 bn | 1.5 bn | 2.1 bn | SEC (XBRL)· 17 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 490.3 m | 488.6 m | 459.5 m | 600.6 m | 675.0 m | 783.8 m | SEC (XBRL)· 17 Feb 2026verified |
| Capex | 47.1 m | 45.4 m | 64.0 m | 84.2 m | 92.1 m | 98.1 m | SEC (XBRL)· 17 Feb 2026verified |
| Free cash flow | 443.2 m ≈ | 443.2 m ≈ | 395.5 m ≈ | 516.4 m ≈ | 582.9 m ≈ | 685.7 m ≈ | SEC (XBRL)· 17 Feb 2026derived |
| Investing cash flow | -56.7 m | -31.6 m | -994.1 m | -129.1 m | -228.4 m | -685.5 m | SEC (XBRL)· 17 Feb 2026verified |
| Financing cash flow | -321.9 m | -529.3 m | 437.0 m | -298.7 m | -394.5 m | -266.7 m | SEC (XBRL)· 17 Feb 2026verified |
| Dividends paid | 117.3 m | 129.0 m | 143.9 m | 158.7 m | 167.0 m | 175.3 m | SEC (XBRL)· 17 Feb 2026verified |
| Share repurchases | 208.8 m | 412.8 m | 61.0 m | 59.9 m | 220.0 m | 80.0 m | SEC (XBRL)· 17 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 67 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 16.2 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation26
- Balance sheet84
- Quality100
- Growth74
- Returns65
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 26.81 – 209.04 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)125.65 – 209.04 (Mid 157.49)WACC 8.8% · starting FCFF 819.7 m USD · terminal value share of EV 75%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 15.9%
- Peers: EV/EBITDAunavailable · not enough peers
- Peers: P/Eunavailable · not enough peers
- Dividend discount (DDM)26.81 – 36.05 (Mid 30.75)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 67/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 20.3% | 100 (on a fixed band) | 10% |
| Net margin · Quality | 15.7% | 100 (vs peers) | 6% |
| FCF conversion · Quality | 107.1% | 100 (on a fixed band) | 6% |
| Revenue CAGR 3Y · Growth | 7.5% | 63 (on a fixed band) | 8% |
| EPS CAGR 3Y · Growth | 12.8% | 85 (on a fixed band) | 8% |
| Net debt / EBITDA · Balance sheet | 1.5x | 71 (on a fixed band) | 10% |
| Interest coverage · Balance sheet | 9.6x | 100 (on a fixed band) | 6% |
| Current ratio · Balance sheet | 1.9x | 92 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 24.0x | 27 (on a fixed band) | 10% |
| EV/EBITDA · Valuation | 16.5x | 0 (on a fixed band) | 10% |
| FCF yield · Valuation | 4.6% | 57 (on a fixed band) | 8% |
| Shareholder yield (distributions) · Returns | 2.9% | 41 (on a fixed band) | 6% |
| Payout ratio (FCF) · Returns | 24.9% | 100 (on a fixed band) | 4% |
Score groups
- Balance sheet84/100 · 3/3 factors with a value
- Growth74/100 · 2/2 factors with a value
- Quality100/100 · 3/3 factors with a value
- Returns65/100 · 2/2 factors with a value
- Valuation26/100 · 3/3 factors with a value
Memo
Allegion plc (ALLE). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 4.1 bn USD in 2025; YoY growth 7.8%; net margin 15.7%; ROE 33.6%; net debt/EBITDA 1.5x.
The estimated value range is 76.23–122.54 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 94.12 USD, the price of 192.69 USD leaves a potential of -51.2% (value / price − 1) and a margin of safety of -104.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 67/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 20.3%
- Net margin: 15.7%
- FCF conversion: 107.1%
- EPS CAGR 3Y: 12.8%
- Net debt / EBITDA: 1.5x
- Interest coverage: 9.6x
- Current ratio: 1.9x
- Payout ratio (FCF): 24.9%
What contradicts it
- P/E (TTM): 24.0x
- EV/EBITDA: 16.5x
- The price is above the estimated value range
- The valuation methods diverge
Versus the vertical median
Services-Detective, Guard & Armored Car Services (SIC 7381) · same industry (4-digit SIC) · compared with 5 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ALLEAllegion plc | 16.2 bn | 24.0 | 33.6% | 15.7% | +7.8% | +16% / +89% |
| ADTADT Inc. | 7.5 bn | 12.2 | 16.9% | 11.9% | +4.7% | +20% / +69% |
| ARLOArlo Technologies, Inc. | 1.6 bn | 56.3 | 22.1% | 5.2% | +3.6% | +5% / +67% |
| GFAIGuardforce Ai Co., Limited | 4.6 m | — | -20.5% | -16.1% | +0.2% | −79% / −95% |
| SUGPSU Group Holdings Ltd | 2.5 m | — | -20.1% | -9.6% | +5.5% | −99% / unavailable |
| CIGLConcorde International Group Ltd | — | — | -3,579.0% | -797.3% | −1.6% | unavailable / unavailable |
1- and 3-year price returns: for ALLE from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 119.74 Total return -37% · Per year -37% | 211.38 Total return 11% · Per year 11% | 318.00 Total return 67% · Per year 67% |
| 3 years | 123.37 Total return -33% · Per year -13% | 244.39 Total return 31% · Per year 9% | 402.63 Total return 114% · Per year 29% |
| 5 years | 127.12 Total return -29% · Per year -7% | 282.54 Total return 54% · Per year 9% | 509.79 Total return 174% · Per year 22% |
- Exit P/E± 61.10
- Net margin± 42.77
- Annual revenue growth± 34.12
- Annual dilution± 3.59
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Allegion plc is a global provider of security products and solutions, with long-established brands such as Schlage, Von Duprin and LCN that equip commercial, institutional and residential buildings. It reported net revenues of 4067.3 million USD in fiscal 2025 1, and in the third quarter of 2026 announced solid organic growth and a raised outlook 3.
SWOT
Strengths
- A broad portfolio of brands with long histories and a reputation for pioneering safety, which supports pricing and channel loyalty 1.
- Rising profitability, with operating margins improving in 2025 and in the third quarter of 2026 13.
- Regional production and the ability to configure customised solutions, which shorten delivery times 1.
Weaknesses
- Exposure to raw material costs and tariffs, particularly for components sourced from Mexico and other countries 12.
- International segment margins are far below those of the Americas, and volumes fell in the latest reported quarter 13.
- Total debt remains significant, which limits financial flexibility if capital markets tighten 13.
Opportunities
- Growth in electronics, mobile solutions and connected systems could open new revenue, especially through acquisitions 1.
- Non-residential business in North America shows solid organic growth that could continue if commercial construction holds up 3.
- Integrating specialty door and electronics acquisitions could extend the offer into more complex projects 2.
Threats
- A weak construction cycle or falling consumer confidence could reduce demand for the company's products 1.
- New tariffs or trade retaliation could raise costs and squeeze margins if they cannot be passed on through prices 12.
- Competition from private label brands and specialised technology providers could pressure prices 1.
Risks
- Dependence on constructionhigh
Demand depends on residential, commercial and institutional construction and remodelling cycles, which can be hit quickly by economic conditions 1.
- Tariffs and international tradehigh
New tariffs or changes in trade policy could raise component costs and delay deliveries 12.
- Debt and interest ratesmedium
Total debt and variable-rate borrowings expose the company to higher financing costs if interest rates rise 13.
- Goodwill impairmentmedium
The carrying value of goodwill and intangible assets is significant, and a fall in performance could lead to impairment charges 1.
- Currency risklow
Revenues from outside the U.S. and exchange rate movements can affect reported results in dollars even when local activity is stable 13.
Investment thesis
What would need to be true (bull case)
- If organic growth in the North American non-residential segment continues, the company could keep improving revenue and margins.
- The electronics and software portfolio could generate recurring revenue and support further margin expansion.
- Recent acquisitions could add new capabilities if integration proceeds as planned.
What would break the thesis
- If new tariffs raise costs faster than they can be passed on to customers, margins could decline.
- A slowdown in construction could reduce volumes, particularly in residential and in Europe.
- Rising debt or interest costs could limit the company's ability to fund acquisitions and share repurchases.
What to watch
- Quarterly results and operating margin trends in the International segmentQ4 2026
- Application of new tariffs and their effect on cost of goods sold2027
- Integration of Door Components and Overly Door Company and their contribution to revenue2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The company operates two reportable segments: Allegion Americas, covering North America, and Allegion International, covering the rest of the world 1. Production is organised regionally to stay close to customers and includes 37 principal production and assembly facilities 1. It expanded through acquisitions in 2025 and 2026, including ELATEC and, in 2026, Door Components and Overly Door Company, strengthening its electronics and specialty door offering 12.
Segments
Allegion Americas
The Americas segment, with net revenues of 3218.8 million USD in 2025 1, is the largest and most profitable, with a segment operating margin of 27.9% 1. In the third quarter of 2026 Americas revenue grew organically, with non-residential business up low double digits, according to the release 3.
Market context
Trends
- Demand for electronic securitytailwind
The company states that adoption of newer technologies, mobile solutions and artificial intelligence in buildings and homes could support growth in connected products 1.
- Tariffs and trade uncertaintyheadwind
U.S. tariffs raised costs, and the company partly offset them with pricing; new tariffs imposed after the Supreme Court ruling could still affect demand and costs 12.
- IEEPA tariff refundsmixed
Refunds of tariffs ruled invalid gave a accounting benefit in 2026, but the company notes that future effects should not be material 23.
- Acquisitions and integrationmixed
Bolt-on acquisitions extend the portfolio in specialty doors and electronics, but they bring integration costs and amortisation that could weigh on margins 13.
Competitive position
According to the company, its principal global competitors are Assa Abloy AB and dormakaba Group, and in the North American residential market it also faces Fortune Brands Innovations 1. It also competes with retailers' private label brands and with more specialised providers in advanced technology categories 1.
The company says it differentiates through established brands, product breadth, integration with technology platforms and the ability to custom-configure solutions for each customer 1.
- Assa Abloy AB
Principal global competitor cited by the company, focused on security products and access control.
- dormakaba Group
Global competitor named by the company in doors and access systems.
- Fortune Brands Innovations
Competitor in the North American residential market, named in the annual report.
- Retailers' private label brands
Own-label products of large retail chains that can compete directly with the company's range.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Do Wall Street Analysts Like Allegion Stock?Yahoo Finance — News · 25 Aug 2026 · EN
The latest news item in our archive is from 25 Aug 2026; the newest SEC filing is from 22 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report22 Oct 2026
- Current report22 Oct 2026Results of operations · Financial statements and exhibits
- Current report08 Sept 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report23 Jul 2026
- Current report23 Jul 2026Results of operations · Financial statements and exhibits
- Current report09 Jun 2026Shareholder vote
- Quarterly report28 Apr 2026
- Current report28 Apr 2026Results of operations · Financial statements and exhibits
- Proxy statement17 Apr 2026
- Current report15 Apr 2026Other events
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Allegion plc · 17 Feb 2026
- [2] Form 10-Q, quarter ended 2026-09-30 · SEC / Allegion plc · 22 Oct 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Allegion plc · 22 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.