# Allegion plc (ALLE)

> Source: Nexqual · https://nexqual.com/ALLE · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Allegion plc (ALLE), nexqual.com/ALLE" · informational, not investment advice.

**Price:** USD 176.52 (+11.02% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 159 · day 167.62–176.9 · 52w 125–183.11 · market cap $15.0B · NYQ

## Key facts
- Last four reported quarters (through Sep 30, 2026): revenue $4.39B, net income $691M (15.7% margin), free cash flow $740M (SEC filings).
- Valuation: P/E 21.7x (avg 20.4x at the last 3 fiscal year-ends), EV/EBITDA 15.4x, net debt $1.64B.
- Insider open-market sales, last ~7 months: 6 Form 4 filings, $2.4M; 4 not under a Rule 10b5-1 plan ($1.8M); 1 by opportunistic insiders (1 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $27K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.36 on a 1–5 scale) (11 analysts), mean target USD 182 (range 160–202).
- Total return with dividends: 1Y +4.3% vs S&P 500 +14.9%; 5Y +41.6% vs S&P 500 +80.3%.
- Next earnings: 2026-10-22, EPS estimate USD 2.31, revenue estimate $1.13B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.87B | $3.27B | $3.65B | $3.77B | $4.07B | $4.39B |
| Gross profit | $1.20B | $1.32B | $1.58B | $1.67B | $1.84B | — |
| Operating income | $530M | $586M | $708M | $781M | $860M | $944M |
| Net income | $483M | $458M | $540M | $598M | $644M | $691M |
| EPS (diluted) | $5.34 | $5.19 | $6.12 | $6.82 | $7.44 | — |
| Free cash flow | $443M | $396M | $516M | $583M | $686M | $740M |
| Gross margin | 42.0% | 40.4% | 43.3% | 44.2% | 45.2% | — |
| Operating margin | 18.5% | 17.9% | 19.4% | 20.7% | 21.1% | 21.5% |
| Net margin | 16.8% | 14.0% | 14.8% | 15.8% | 15.8% | 15.7% |
| Revenue growth | +5.4% | +14.1% | +11.6% | +3.3% | +7.8% | — |
| Cash + short-term investments | $398M | $288M | $468M | $504M | $356M | — |
| Total debt | $1.44B | $2.09B | $2.02B | $2.00B | $1.98B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Sep 30, 2026)
P/E 21.7x · P/S 3.4x · EV/EBITDA 15.4x · EV/Sales 3.8x · P/FCF 20.3x · P/B 6.9x · FCF yield 4.93% · Earnings yield 4.60% · Dividend yield (paid, TTM) 1.23% · Buyback yield (TTM) 1.87% · Net debt $1.64B · EV $16.7B
P/E at fiscal year-ends: Dec 2025 21.4x, Dec 2024 19.2x, Dec 2023 20.7x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
2 of 6 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-18 | Ilardi David S. | President-Amer & SVP-Allegion | 549 | $88K | 3.8% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-06 | Wenos Vincent | SVP - Chief Technology Officer | 1,000 | $168K | 7.6% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-27 | Eckersley Timothy P | President-Intl & SVP-Allegion | 6,417 | $1.0M | 17.7% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-07-23 | Wagnes Michael J. | SVP and CFO | 3,184 | $481K | 9.2% | Yes (adopted September 12, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-07-23 | Musial Nickolas A. | VP, Controller & CAO | 687 | $106K | 9.2% | Yes (adopted March 11, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-07 | Martens Robert C. | SVP-Chief Innovation & Design | 3,993 | $548K | 31.8% | No | Too little history (no open-market trades in 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $27K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-28 | Mizell Steven | Director | 170 | $27K | 158.28 | Too little history (no open-market trades in 2023 or 2025) |

## Analysts
Consensus Buy (mean 2.36 on a 1–5 scale), 11 analysts; mean target USD 182 (low 160, high 202).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-10 | Morgan Stanley | Target raised | Equal-Weight | $142 → $160 |
| 2026-07-24 | JP Morgan | Target raised | Neutral | $150 → $170 |
| 2026-07-24 | B of A Securities | Target raised | Neutral | $150 → $164 |
| 2026-07-24 | Baird | Target raised | Neutral | $165 → $170 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +4.3% | +41.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +4.3% | +7.2% |
| Volatility (annualized) | 29.7% | 26.8% |
| Max drawdown | -29.8% (Feb 2026→May 2026) | -32.7% (Nov 2021→Sep 2022) |

## Peers (Security & Protection Services)
MSA (MSA Safety Incorporated) USD 184.44 +0.60% · ADT (ADT Inc.) USD 6.99 +2.79% · BCO (Brinks Company (The)) USD 111.22 +2.29% · BRC (Brady Corporation) USD 82.65 +0.38% · GEO (Geo Group Inc (The) REIT) USD 26.94 -2.53% · CXW (CoreCivic, Inc.) USD 29.33 -0.64%

## More
Full page: https://nexqual.com/ALLE · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-09-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Allegion Americas | $942.4M | 80.4% | +11.7% | $294.6M | 31.3% |
| Allegion International | $230.2M | 19.6% | +1.8% | $17.2M | 7.5% |
| Corporate costs (not allocated) | — | — | — | $27.2M | — |
| Total revenue | $1.17B | 100% | — | $311.8M | 26.6% |

## Revenue by product line (quarter ended 2026-09-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Products | $896.2M | 76.4% | +11.2% |
| Services and software | $46.2M | 3.9% | +22.2% |
| Total revenue | $1.17B | 100% | — |
The lines above cover 80.4% of total revenue.

## Revenue by region (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| U.S. | $3.05B | 75.0% | +6.7% |
| Non Us | $1.02B | 25.0% | +11.4% |
| Total revenue | $4.07B | 100% | — |

## Company outlook (8-K filed 2026-10-22)

- "Stone said. "With steady momentum in our demand generation engine and a proven, resilient business model, we are raising our full-year 2026 revenue and adjusted EPS outlook." Q3 2026 Company Results (All comparisons are year-over-year, unless otherwise noted) Allegion reported third-quarter 2026 net revenues of $1,172.6 million and net earnings of $220.9 million, or $2.59 per share."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $2.31 | $2.26 | +2.4% | $1.13B | 3 |
| Next quarter (ends 2027-03-31) | $2.16 | $2.10 | +2.9% | $1.09B | 7 |
| Current fiscal year (ends 2026-12-31) | $9.11 | $8.94 | +2.0% | $4.48B | 5 |
| Next fiscal year (ends 2027-12-31) | $9.95 | $9.72 | +2.4% | $4.68B | 11 |

## Options: expected move (Cboe, 15-min delayed)

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 26.5% | ±6.0% |
| 2026-12-18 | 56 | 25.5% | ±8.1% |
| 2027-03-19 | 147 | 28.3% | ±14.3% |
| 2027-06-17 | 237 | 28.3% | ±18.1% |