TacticScaleWhat Allegion Does & How It Makes Money (ALLE)
Updated October 2026 · reflects Allegion's latest reported financials
Global maker of locks, door hardware and access control systems. Allegion earns most of its revenue by selling security hardware and electronic access products through specialty distributors, wholesalers, e-commerce and home-improvement retailers.
How Allegion makes money
Allegion earns most of its revenue by selling security hardware and electronic access products through specialty distributors, wholesalers, e-commerce and home-improvement retailers. It also earns recurring revenue from software-as-a-service subscriptions, aftermarket parts, and inspection, maintenance, repair and installation services.
What Allegion does
Allegion plc, incorporated in 2013 and based in Dublin, Ireland, supplies security products and solutions worldwide through two segments, Allegion Americas and Allegion International. Its lineup covers mechanical locks, locksets, portable locks and key systems; door controls, closers and exit devices; doors, glass and door systems; and electronic security and access control, including time, attendance and workforce productivity tools. Well-known brands include Schlage, Von Duprin, LCN, CISA, SimonsVoss and Interflex. The company serves commercial, institutional and residential customers in education, healthcare, government, hospitality, retail, office and single- and multi-family housing. It reaches them through specialty distribution, wholesalers, e-commerce and DIY home-improvement retailers. On top of product sales, it earns service and software revenue from access control SaaS, platform integration, aftermarket support, design and installation, and maintenance of automatic entrances.
Products & services
- Schlage locks
- Von Duprin exit devices
- LCN door closers
- CISA locks
- SimonsVoss and Interflex access control
- Access control and workforce management SaaS
What is Allegion worth?
On an owner-earnings DCF, Allegion's most-likely value is about $175 versus a recent price near $150 (16% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$80) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
Related companies
Alarm.com (ALRM) · Allegro MicroSystems (ALGM) · Fortune Brands Innovations (FBIN) · Napco Security Technologies (NSSC) · ADI Global Distribution (ADIG)