Allegion plc (ALLE)

Allegion plc is a global provider of security products and solutions that keep people and assets safe and secure where they live, learn, work and connect. Incorporated in Ireland in 2013, it was separated from Ingersoll Rand and became a stand-alone public company on December 1, 2013. It offers hardware, software, services and systems for security and access control, and works with partners to build ecosystems for seamless, secure access. In 2025 it generated net revenues of $4,067.3 million and operating income of $859.5 million.

The portfolio spans more than 40 brands and is organized into five product and service categories. Door controls, door control systems and exit devices include panic hardware, door closers and automatic entrance solutions, sold under brands such as LCN, Von Duprin, CISA, Briton and Stanley Access Technologies. Doors, glass and door systems, and accessories cover hollow metal doors and frames, glass and specialty door systems, hinges and other components, under brands such as Falcon, Ives, Steelcraft and Trimco. Electronic security products and access control systems include electronic locks, credentials, readers, and time, attendance and workforce productivity tools, under brands such as Schlage, SimonsVoss, Interflex and ELATEC. Locks, locksets, portable locks and key systems include mortice, cylindrical and tubular locksets, master key systems, and bicycle, small vehicle and travel locks. Services and software include planned inspection, maintenance and repair of automatic entrances through Stanley Access Technologies, plus SaaS offerings for access control, platform integration and workforce management such as Interflex, Yonomi and Zentra. Company reporting refers to two segments, Allegion Americas and Allegion International. Allegion Ventures, formed in 2018, invests in companies with innovative digital technologies.

Allegion serves end-users in commercial, institutional and residential facilities across North America, Europe, Asia and Oceania, including education, healthcare, government, hospitality, retail, commercial office and single and multi-family housing. Most products are sold through distribution and retail channels, including specialty distributors, wholesalers, e-commerce, large do-it-yourself home improvement centers and specialty showrooms. Some businesses, notably Stanley Access Technologies, Interflex and the Global Portable Security brands, also sell directly to end-users. Field sales staff and specification writers work with architects, engineers, contractors, security consultants and homebuilders. The ten largest customers accounted for about 26% of 2025 net revenues, and no single customer reached 10%.

Allegion operates 37 principal production and assembly facilities, 22 in Allegion Americas and 15 in Allegion International, and generally produces in the region of use. Much of its U.S. residential portfolio is made in the Baja region of Mexico under the IMMEX program. Third-party providers support some manufacturing, storage and distribution. Raw materials include steel, zinc, brass and other non-ferrous metals, along with electronic components, sourced largely through regional suppliers. R&D is managed globally, with a technology center in Bengaluru, India. The security market is competitive and fragmented; the principal global competitors are Assa Abloy AB and dormakaba Group, and Fortune Brands Innovations competes in North American residential markets, along with private label brands. Sales are seasonal, with security product sales typically higher in the second and third quarters.