Allegion

Pricing has been a material driver of revenue and margin expansion in 2023–2025. Management expects roughly 40 million dollars of 2025 tariffs to be offset primarily via price realization. Adjusted operating margin in 2024 was 22.8 percent, with the Americas segment at 27.1 percent, indicating meaningful ability to price above cost.

Electronics carry higher ASPs and margins, supporting mix‑led improvement. Constraints: competitive pressure in residential, channel dynamics with big‑box retail, and cycles in non‑residential construction. Nevertheless, recurring service and spec‑driven commercial demand provide room to hold price in line with inflation over time.

Sources: Q2‑2025 release and outlook; 2024 Form 10‑K and Q4‑2024 release.