Allegion plc
- Open
- 137.61
- Day high
- 139.13
- Day low
- 134.63
- Prev close
- 137.24
- Volume
- 1.2M
- Mkt cap
- $11.9B
- P/E (TTM)
- 18.7
- EPS (TTM)
- $7.37
- P/B
- 5.6
- P/S
- 2.9
- Yield
- 1.53%
- Per share
- $2.12
- ▼Insiders net selling -$548K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions mixed (13F)
Allegion plc (ALLE) is a Industrials company listed on NYSE. The stock is down 8% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4).
Allegion plc (ALLE) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ALLE earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 28, 2026 | $1.88 | $1.80 | -4.3% | $1.0B | +0.7% |
| Feb 17, 2026 | $2.01 | $1.94 | -3.5% | $1.0B | +0.5% |
| Oct 23, 2025 | $2.21 | $2.30 | +4.1% | $1.1B | +3.1% |
| Jul 24, 2025 | $1.99 | $2.04 | +2.5% | $1.0B | +2.0% |
| Apr 24, 2025 | $1.67 | $1.86 | +11.4% | $942M | +2.3% |
| Feb 18, 2025 | $1.75 | $1.86 | +6.3% | $946M | +2.7% |
| Oct 24, 2024 | $1.98 | $2.16 | +9.1% | $967M | +3.0% |
| Jul 24, 2024 | $1.84 | $1.96 | +6.5% | $966M | +1.3% |
| Apr 25, 2024 | $1.45 | $1.55 | +6.9% | $894M | +0.6% |
| Feb 20, 2024 | $1.59 | $1.68 | +5.7% | $897M | -0.5% |
| Jul 26, 2023 | $1.71 | $1.76 | +2.9% | $913M | -2.7% |
| Feb 22, 2023 | $1.39 | $1.60 | +15.1% | $862M | +1.4% |
ALLE insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 6, 2026 | Blasko Josephofficer: SVP and General Counsel | Tax | 145 | $139.92 |
| Jun 9, 2026 | MIZELL STEVENdirector | Tax | 292 | $130.27 |
| Jun 9, 2026 | SENGSTACK GREGG Cdirector | Tax | 292 | $130.27 |
| Jun 9, 2026 | MAIN SUEdirector | Tax | 292 | $130.27 |
| Jun 9, 2026 | Rubin Ellendirector | Tax | 292 | $130.27 |
| Jun 9, 2026 | Parent Haughey Nicoledirector | Tax | 292 | $130.27 |
| Jun 9, 2026 | PETERS LAUREN Bdirector | Tax | 449 | $130.27 |
| Jun 9, 2026 | Vardhan Devdirector | Tax | 292 | $130.27 |
| Jun 8, 2026 | SENGSTACK GREGG Cdirector | Grant | 1,074 | — |
| Jun 8, 2026 | Parent Haughey Nicoledirector | Grant | 1,074 | — |
| Jun 8, 2026 | Vardhan Devdirector | Grant | 1,074 | — |
| Jun 8, 2026 | Rubin Ellendirector | Grant | 1,074 | — |
| Jun 8, 2026 | MIZELL STEVENdirector | Grant | 1,074 | — |
| Jun 8, 2026 | PETERS LAUREN Bdirector | Grant | 1,649 | — |
| Jun 8, 2026 | MAIN SUEdirector | Grant | 1,074 | — |
Source: ALLE SEC Form 4 filings, latest Jul 6, 2026. For informational purposes only — not investment advice.
See the full ALLE insider & 13F page →Allegion plc company profile
Overview
Allegion plc (NYSE:ALLE) is a global security products and solutions company founded in 2013 when it was spun off from Ingersoll Rand. Headquartered in Dublin, Ireland, Allegion has established itself as a leading manufacturer of mechanical and electronic security products worldwide. The company operates through two primary segments: Americas and International, serving commercial, institutional, and residential markets with a comprehensive portfolio of door hardware, electronic access control systems, and security solutions under well-known brands including Schlage, Von Duprin, LCN, CISA, and SimonsVoss.
Business
Allegion operates in the security and access control industry, manufacturing and selling mechanical and electronic security products that control and monitor access to buildings and facilities. The company's core business revolves around door hardware and access control systems - essentially the locks, handles, closers, and electronic systems that secure and manage entry points in buildings. The company's product portfolio spans traditional mechanical hardware to sophisticated electronic access control solutions. Mechanical products include door closers (devices that automatically close doors), exit devices (panic bars that allow quick egress), locksets, and key systems. Electronic products encompass smart locks, access control systems, credential readers, and software platforms that manage building security digitally. These electronic solutions allow users to unlock doors using smartphones, key cards, or biometric credentials rather than traditional keys. Allegion operates through two main business segments: 1. Americas Segment (approximately 80% of total revenue): Primarily serves North American markets with both residential and non-residential products. The non-residential business focuses on commercial, institutional, and government facilities, while residential products target single and multi-family housing markets. 2. International Segment (approximately 20% of total revenue): Covers Europe, Asia-Pacific, and other international markets, with particular strength in European commercial and institutional markets through brands like CISA and SimonsVoss. The company's products are essential infrastructure components found in virtually every building - from office complexes and hospitals to schools and homes. Electronic access control represents the fastest-growing segment, driven by increasing demand for smartphone-enabled locks, integrated security systems, and contactless access solutions.
Revenue model
Allegion generates revenue primarily through product sales to distributors, retailers, and end customers. The company operates a traditional manufacturing business model where it designs, manufactures, and sells physical security products through multiple distribution channels. Revenue streams include: Direct product sales account for the majority of revenue, with some recurring revenue from software subscriptions and service contracts associated with electronic access control systems. The company sells through specialty distributors (who serve commercial contractors and locksmiths), retail channels including home improvement stores, e-commerce platforms, and direct sales to large institutional customers. Customer base consists of commercial contractors, institutional buyers (schools, hospitals, government facilities), residential builders, and end consumers. The institutional and commercial markets tend to provide more stable, higher-margin business compared to residential markets. Several factors influence Allegion's profitability margins. Positive margin drivers include the ongoing shift toward higher-margin electronic products, pricing power in institutional markets due to specification-driven sales, operational efficiency improvements, and the company's ability to pass through cost increases via pricing actions. The company has demonstrated consistent ability to expand margins through productivity initiatives and premium product mix. Margin pressures come from commodity cost inflation (steel, aluminum, electronic components), tariff impacts on imported components, competitive pricing in residential markets, and currency fluctuations in international operations. Supply chain disruptions and component shortages can also temporarily compress margins, though the company has shown resilience in managing these challenges through supplier diversification and product redesigns.
Competitive moat
Allegion possesses a moderate but sustainable competitive moat built primarily on brand recognition, distribution relationships, and switching costs in institutional markets. The company's moat is strongest in the commercial and institutional segments where security specifications and building codes create barriers to entry. Key moat elements include: Strong brand equity in security products, particularly the Schlage brand in North America, which commands premium pricing and customer loyalty. The company benefits from specification-driven sales where architects and security consultants specify Allegion products in building designs, creating a "pull-through" demand that's difficult for competitors to disrupt. Established distribution relationships with specialty security distributors and major retailers provide advantaged market access. Switching costs exist in institutional settings where building owners prefer to standardize on single-brand systems for maintenance efficiency and key management. Electronic access control systems create additional switching costs through software integration and user training requirements. However, Allegion's moat faces several challenges. The security hardware industry is moderately competitive with established players like ASSA ABLOY (larger global competitor), Dormakaba, and Stanley Black & Decker competing for market share. In residential markets, the moat is weaker due to price sensitivity and lower switching costs. Disruption risks include technology shifts toward fully integrated smart building systems that could commoditize traditional door hardware, potential market share loss to tech companies entering smart lock markets, and the possibility that building access becomes integrated into broader IoT ecosystems controlled by technology giants. However, Allegion has been proactive in developing electronic solutions and partnerships to address these technological transitions.
Risks & safety
Allegion demonstrates a solid financial position with manageable debt levels and strong cash generation, though valuation metrics suggest limited margin of safety at current prices. • Liquidity and Solvency: Strong current ratio of 2.17, cash position of $495 million, and debt-to-equity ratio of 1.24 indicates manageable leverage. Free cash flow of $583 million in 2024 provides substantial financial flexibility. • Valuation Metrics: P/E ratio of 19.0x and EV/EBITDA of 13.9x appear elevated for a mature industrial company, suggesting limited valuation-based margin of safety. Price-to-book ratio of 7.0x indicates significant premium to tangible assets. • Other Considerations: Consistent dividend growth (11 consecutive increases) and share repurchase program demonstrate disciplined capital allocation. However, high return on equity of 40% appears unsustainable and may reflect leverage rather than exceptional business economics.
Recent development
Over the past few years, Allegion has executed a clear strategic transformation toward electronic access control solutions while maintaining its core mechanical hardware business. The company has invested heavily in developing smart lock technologies, with recent launches including the Schlage Sense Pro ultra-wideband smart deadbolt and Schlage Arrive Smart WiFi Deadbolt. Acquisition strategy has been central to recent growth, with the company completing multiple bolt-on acquisitions annually. Notable recent acquisitions include Access Technologies (a significant electronic access control acquisition), Nextdoor Company, Lamar in Australia, Trimco, and SOSS Door Hardware. These acquisitions have expanded both geographic reach and product capabilities, particularly in electronic solutions. Market positioning shifts include increased focus on institutional markets (healthcare, education, government) which provide more stable demand and higher margins compared to commercial office markets. The company has also strengthened its specification capabilities, working directly with architects and security consultants to ensure product specification in new construction and renovation projects. Operational improvements have included supply chain diversification with reduced reliance on Chinese suppliers, new manufacturing facilities in Mexico, and margin expansion initiatives that have delivered consistent operating leverage. The company has successfully managed through supply chain disruptions and inflationary pressures while maintaining strong profitability. Recent challenges include managing tariff impacts, particularly potential tariffs on Mexican imports, and navigating a soft residential market due to high mortgage rates. However, management has demonstrated ability to offset cost pressures through pricing actions and operational efficiency.
ALLE company profile · for informational purposes only — not investment advice.
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