---
title: "Lennox International: Business Model"
description: "Lennox International revenue by business segment and geography from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/lennox-international/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# Lennox International: Business Model & Revenue Engine

## Direct Answer

Lennox International reports revenue across 2 business segments in its fiscal 2025 Form 10-K. Residential Heating and Cooling is the largest, with $3.3 billion of revenue (64% of the total), followed by Commercial Heating and Cooling at $1.9 billion (36%). 93% of revenue came from the United States.

## How Does Lennox International Make Money?

Residential Heating and Cooling supplies 64% of revenue, so Lennox International's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Commercial Heating and Cooling grew fastest (+5.0%) and Residential Heating and Cooling slowest (-6.5%), so the revenue mix tilts toward Commercial Heating and Cooling while that gap lasts.

| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Residential Heating and Cooling | $3.3 billion | $3.6 billion | 64.4% | -6.5% |
| Commercial Heating and Cooling | $1.9 billion | $1.8 billion | 35.6% | 5.0% |

![Bar chart of Lennox International revenue by segment for fiscal 2025: Residential Heating and Cooling 64.4%, Commercial Heating and Cooling 35.6%.](https://www.getswoopr.com/images/charts/lennox-international-business-model-segment-mix.webp)
*Lennox International revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## Where Does Lennox International's Revenue Come From?

Regions follow the definitions in the filing; most companies assign revenue by customer location.

| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| United States | $4.8 billion | $5.0 billion | 92.8% | -4.0% |
| Canada | $373 million | $320 million | 7.2% | 16.9% |

## What the Segment Figures Do Not Show

The rows above add up to 100% of Lennox International's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value Lennox International reported in the segment note and revenue disclosures of its Form 10-K filed February 17, 2026 (accession 0001069202-26-000028), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are Lennox International's business segments?

In its fiscal 2025 Form 10-K, Lennox International reports revenue for Residential Heating and Cooling and Commercial Heating and Cooling.

### Which part of Lennox International brings in the most revenue?

Residential Heating and Cooling, with $3.3 billion of revenue in fiscal 2025, or 64% of the total.

### How much of Lennox International's revenue comes from outside the United States?

7% in fiscal 2025, by the geographic breakdown Lennox International reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.

## References

- [SEC EDGAR: LENNOX INTERNATIONAL INC Form 10-K filed February 17, 2026](https://www.sec.gov/Archives/edgar/data/1069202/000106920226000028/lii-20251231.htm)
- [SEC EDGAR: LENNOX INTERNATIONAL INC annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1069202&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

## Related Pages

- [Lennox International company dossier](https://www.getswoopr.com/stocks/companies/lennox-international/)
- [Lennox International financial metrics](https://www.getswoopr.com/stocks/companies/lennox-international/metrics/)
- [Lennox International financial risk indicators](https://www.getswoopr.com/stocks/companies/lennox-international/risks/)
- [Lennox International peer comparison](https://www.getswoopr.com/stocks/companies/lennox-international/competitors/)
- [Lennox International business model and revenue mix](https://www.getswoopr.com/stocks/companies/lennox-international/business-model/)
- [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/)

**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).