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Donaldson

DCI NYSE Industrial Machinery & Supplies & Components Financials FY2017–FY2026

Donaldson's revenue rose 5.3% to $3.9 billion in fiscal 2026. Its operating margin was 15.4%, up from 13.4% a year earlier. Free cash flow was $426 million, up 25.4%. It paid out $252 million in dividends and buybacks, 59% of free cash flow. The diluted share count fell 2.1%.

Last close · Oct 23, 2026

$84.79

1.5%
Value it Compare
Revenue Total sales reported in the income statement.
$3.9B
5.3% vs prior year
Operating margin Operating income as a share of revenue.
15.4%
2.0 pts
Net income Profit after all expenses, interest and tax.
$454M
23.7%
Free cash flow Cash from operations minus capital spending.
$426M
25.4%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
19.4%
0.3 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$10.0B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
22.0x

What Donaldson does

No business description yet.

Legal name
Donaldson Company, Inc.
Fiscal year ends
July 31, 2026
Latest annual report
—
Accession · CIK
0000029644-26-000085
0000029644

Revenue and margins

Donaldson had $3.9B of revenue in fiscal 2026, up 5.3% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2017 to 2026, diluted EPS grew 9.2% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $426M in fiscal 2026, 11.0% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Donaldson returned $252M to shareholders in fiscal 2026, 59% of free cash flow. The diluted share count fell 2.1%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Donaldson yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$1.1B and divides by 117.9M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 22.0x · peers 26.5x · sector 26.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably Donaldson can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $193M$187M$233M$180M$250M
Debt incl. finance leases $650M$658M$538M$671M$1.3B
Net debt / EBITDA 0.9x0.8x0.5x0.8x1.5x
Debt / equity 0.6x0.5x0.4x0.5x0.8x
Interest coverage 29.8x25.0x25.4x20.5x16.7x
Current ratio 2.2x1.7x1.8x1.9x2.1x
Quick ratio 1.4x1.2x1.2x1.3x1.4x
Total assets $2.6B$2.8B$2.9B$3.0B$4.0B
Total liabilities $1.5B$1.4B$1.4B$1.5B$2.2B
Shareholders' equity $1.1B$1.3B$1.5B$1.5B$1.8B
Net debt (− = net cash) $457M$470M$306M$491M$1.1B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$8.6M

5 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Sep 4, 2026 Tod E. CarpenterChairman, President and CEO, Director Sold 31,968 $91.10 $2.9M Form 4
Aug 31, 2026 Tod E. CarpenterChairman, President and CEO, Director Sold 3,032 $91.00 $0.3M Form 4
Apr 14, 2026 James OwensDirector Sold 13,753 $89.21 $1.2M Form 4
Apr 13, 2026 James OwensDirector Sold 5,921 $89.02 $0.5M Form 4
Apr 10, 2026 James OwensDirector Sold 126 $88.82 $0.0M Form 4
Mar 26, 2026 Guillermo BrisenoPresident Sold 20,600 $84.97 $1.8M Form 4
Dec 9, 2025 Bradley J. PogalzChief Financial Officer Sold 566 $91.57 $0.1M Form 4
Dec 5, 2025 Ajita G RajendraDirector Sold 19,800 $92.04 $1.8M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY24FY25FY26
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✕ ✕
Current ratio rose ✓ ✓ ✓
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✓ ✕ ✕
Revenue rose relative to assets ✕ ✕ ✓
F-score 8 / 95 / 97 / 9
Accruals ratio −2.8%−1.8%−1.2%
Altman Z'' 6.496.535.66

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Donaldson DCI $10.0B 5.3% 15.4% 11.0% 19.4% 22.0x 7
ITT ITT $17.1B 8.5% 17.4% 13.9% 16.8% 37.2x 7 Compare →
Valmont Industries VMI $8.5B 0.7% 10.1% 7.6% 17.9% 17.0x 7 Compare →
Fortive FTV $18.8B 1.9% 17.3% 23.5% 5.7% 36.1x 5 Compare →
Pentair PNR $9.1B 2.3% 20.5% 17.9% 14.0% 13.5x 9 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $2.4B $2.7B $2.8B $2.6B $2.9B $3.3B $3.4B $3.6B $3.7B $3.9B
Gross profit $821M $936M $948M $872M $972M $1.1B $1.2B $1.3B $1.3B $1.3B
Research and development $54.7M $59.9M $62.3M $61.2M $67.8M $69.1M $78.1M $93.6M $87.8M $76.1M
Operating income $324M $377M $388M $340M $385M $444M $480M $544M $495M $600M
Interest expense $19.5M $21.3M $19.9M $17.4M $13.0M $14.9M $19.2M $21.4M $24.2M $36.0M
Pretax income $322M $364M $375M $335M $381M $438M $469M $535M $492M $586M
Income tax $89.2M $183M $108M $78.2M $94.1M $106M $110M $121M $125M $132M
Net income $233M $180M $267M $257M $287M $333M $359M $414M $367M $454M
Diluted EPS $1.74 $1.36 $2.05 $2.00 $2.24 $2.66 $2.90 $3.38 $3.05 $3.85
Diluted shares 0.13B 0.13B 0.13B 0.13B 0.13B 0.13B 0.12B 0.12B 0.12B 0.12B
Cash flow
Cash from operations $318M $263M $346M $387M $402M $253M $545M $493M $419M $494M
Capital expenditure $65.9M $97.5M $151M $124M $59.0M $85.5M $119M $85.6M $78.9M $67.4M
Free cash flow $252M $165M $195M $263M $343M $167M $426M $407M $340M $426M
Depreciation and amortization $75.2M $76.7M $81.1M $87.6M $95.3M $93.8M $92.3M $98.4M $99.5M $106M
Stock-based compensation $9.1M $16.7M $15.0M $15.2M $14.2M $20.4M $20.4M $22.0M $24.0M $24.7M
Acquisitions $32.2M $0.5M $96.0M $6.5M $0.0M $68.9M $209M $2.0M $2.4M $823M
Share buybacks $140M $122M $129M $94.3M $142M $171M $142M $163M $332M $111M
Dividends paid $92.4M $94.7M $99.7M $106M $107M $110M $114M $123M $132M $141M
Dividends and buybacks $233M $217M $229M $201M $249M $281M $256M $286M $463M $252M
Balance sheet
Cash and short-term investments $308M $205M $178M $237M $223M $193M $187M $233M $180M $250M
Total debt $611M $543M $637M $629M $512M $650M $658M $538M $671M $1.3B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $1.2B $1.1B $1.1B $1.1B $1.2B $1.4B $1.3B $1.4B $1.5B $1.7B
Current liabilities $484M $469M $483M $407M $607M $630M $756M $783M $757M $804M
Inventory $294M $334M $333M $323M $385M $502M $418M $477M $514M $539M
Property and equipment, net $485M $509M $589M $632M $618M $594M $653M $646M $645M $633M
Total assets $2.0B $2.0B $2.1B $2.2B $2.4B $2.6B $2.8B $2.9B $3.0B $4.0B
Total liabilities $1.1B $1.1B $1.2B $1.2B $1.3B $1.5B $1.4B $1.4B $1.5B $2.2B
Shareholders' equity $855M $858M $893M $993M $1.1B $1.1B $1.3B $1.5B $1.5B $1.8B
Margins
Gross margin 34.6% 34.2% 33.3% 33.8% 34.1% 32.3% 33.8% 35.5% 34.9% 34.6%
Operating margin 13.6% 13.8% 13.7% 13.2% 13.5% 13.4% 14.0% 15.2% 13.4% 15.4%
EBITDA margin 16.8% 16.6% 16.5% 16.6% 16.8% 16.3% 16.7% 17.9% 16.1% 18.2%
Net margin 9.8% 6.6% 9.4% 10.0% 10.1% 10.1% 10.5% 11.5% 9.9% 11.7%
FCF margin 10.6% 6.1% 6.9% 10.2% 12.0% 5.1% 12.4% 11.4% 9.2% 11.0%
Returns
Return on capital 20.8% 16.0% 21.7% 19.1% 20.6% 22.3% 21.7% 23.5% 19.8% 19.4%
Return on capital employed 23.6% 25.1% 24.5% 19.5% 21.2% 23.6% 24.1% 26.3% 22.8% 22.2%
Return on equity 28.6% 21.1% 30.5% 27.3% 26.9% 29.3% 29.2% 29.5% 24.9% 28.2%
Return on assets 12.4% 9.1% 13.0% 11.7% 12.4% 13.3% 13.4% 14.6% 12.5% 13.0%
Growth
Revenue growth 6.8% 15.3% 4.1% −9.3% 10.5% 15.9% 3.8% 4.5% 2.9% 5.3%
Net income growth 22.0% −22.6% 48.2% −3.8% 11.6% 16.0% 7.8% 15.4% −11.4% 23.7%
EPS growth 22.5% −21.8% 50.7% −2.4% 12.0% 18.8% 9.0% 16.6% −9.8% 26.2%
FCF growth 15.3% −34.3% 18.0% 34.6% 30.6% −51.2% 154.6% −4.5% −16.5% 25.4%
Share count change −0.5% −1.4% −1.4% −1.5% −0.1% −2.3% −1.3% −0.8% −1.8% −2.1%
Financial health
Net debt / EBITDA 0.8x 0.8x 1.0x 0.9x 0.6x 0.9x 0.8x 0.5x 0.8x 1.5x
Debt / equity 0.7x 0.6x 0.7x 0.6x 0.5x 0.6x 0.5x 0.4x 0.5x 0.8x
Interest coverage 16.6x 17.7x 19.5x 19.6x 29.6x 29.8x 25.0x 25.4x 20.5x 16.7x
Current ratio 2.4x 2.4x 2.3x 2.7x 2.1x 2.2x 1.7x 1.8x 1.9x 2.1x
Quick ratio 1.8x 1.7x 1.6x 1.9x 1.4x 1.4x 1.2x 1.2x 1.3x 1.4x
Capital allocation
Capex / revenue 2.8% 3.6% 5.3% 4.8% 2.1% 2.6% 3.5% 2.4% 2.1% 1.7%
Stock comp / revenue 0.4% 0.6% 0.5% 0.6% 0.5% 0.6% 0.6% 0.6% 0.7% 0.6%
Payouts / FCF 92.4% 131.0% 117.3% 76.4% 72.7% 167.8% 60.1% 70.2% 136.3% 59.2%
Quality scores
Piotroski F-score 8.0 7.0 6.0 7.0 8.0 6.0 6.0 8.0 5.0 7.0
Altman Z'' 5.8 6.1 5.9 6.0 6.0 6.2 5.8 6.5 6.5 5.7
Accruals ratio −4.5% −4.2% −3.8% −5.9% −5.0% 3.2% −6.9% −2.8% −1.8% −1.2%

Source: SEC EDGAR XBRL filings (CIK 0000029644). Data updated October 16, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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