Donaldson Company, Inc. (DCI) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$1.13	$1.15	+1.8%	—	—	—
Q4 26	$0.89	$0.83	-6.7%	—	—	—
Q3 26	$0.92	$0.94	+2.2%	—	—	—
Q2 26	$1.02	$1.03	+1.0%	—	—	—
Q1 26	$0.95	$0.99	+4.2%	—	—	—
Q4 25	$0.85	$0.83	-2.4%	—	—	—
Q3 25	$0.82	$0.83	+1.2%	—	—	—
Q2 25	$0.89	$0.94	+5.6%	—	—	—
Q1 25	$0.84	$0.92	+9.5%	—	—	—
Q4 24	$0.74	$0.81	+9.5%	—	—	—
Q3 24	$0.72	$0.75	+4.2%	—	—	—
Q2 24	$0.78	$0.78	0.0%	—	—	—
Q1 24	$0.74	$0.76	+2.7%	—	—	—
Q4 23	$0.68	$0.75	+10.3%	—	—	—
Q3 23	$0.7	$0.75	+7.1%	—	—	—
Q2 23	$0.84	$0.84	0.0%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$3.09	—	—	$3.7B	—
FY24	—	$3.43	—	—	$3.6B	—
FY23	—	$2.95	—	—	$3.4B	—
FY22	—	$2.69	—	—	$3.3B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$2.2B	$2.4B	$2.7B	$2.8B	$2.6B	$2.9B	$3.3B	$3.4B	$3.6B	$3.7B
YoY change	-6.36%	+6.83%	+15.3%	+4.05%	-9.25%	+10.5%	+15.9%	+3.76%	+4.53%	+2.92%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	2.2B	2.4B	2.7B	2.8B	2.6B	2.9B	3.3B	3.4B	3.6B	3.7B
Cost of revenue	1.5B	1.6B	1.8B	1.9B	1.7B	1.9B	2.2B	2.3B	2.3B	2.4B
Gross profit	754.8M	820.9M	935.8M	948.3M	871.6M	971.7M	1.1B	1.2B	1.3B	1.3B
Gross margin	34%	34.6%	34.2%	33.3%	33.8%	34%	32.3%	33.8%	35.5%	34.8%
Research & development	55.5M	54.7M	59.9M	62.3M	61.2M	67.8M	69.1M	78.1M	93.6M	87.8M
Selling, general & administrative	425.1M	442.6M	498.9M	497.8M	470.3M	519.2M	554.8M	602.3M	636.7M	641M
Operating expenses	480.6M	497.3M	558.8M	560.1M	531.5M	587M	623.9M	680.4M	730.3M	728.8M
Operating income	274.2M	323.6M	377M	388.2M	340.1M	384.7M	443.5M	480.2M	544.1M	557.4M
Operating margin	12.3%	13.6%	13.8%	13.6%	13.2%	13.5%	13.4%	14%	15.2%	15.1%
Non-operating income, net	3.9M	17.9M	7.9M	6.9M	12.5M	9.3M	9.8M	7.7M	12.6M	-41M
Pretax income	257.4M	322M	363.6M	375.2M	335.2M	381M	438.4M	468.7M	535.3M	492.2M
Income tax	66.6M	89.2M	183.3M	108M	78.2M	94.1M	105.6M	109.9M	121.3M	125.2M
Net income	190.8M	232.8M	180.3M	267.2M	257M	286.9M	332.8M	358.8M	414M	367M
Net margin	8.59%	9.81%	6.59%	9.39%	9.95%	10.1%	10.1%	10.5%	11.5%	9.94%
EBITDA	353M	416.7M	461.6M	476.2M	440.2M	489.3M	547.1M	580.2M	655.1M	677.9M
EPS	1.43	1.76	1.38	2.08	2.03	2.27	2.69	2.95	3.43	3.09
Diluted EPS	1.42	1.74	1.36	2.05	2	2.24	2.66	2.9	3.38	3.05

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	879.5M	846.3M	876.7M	927.9M	935.4M	900.1M	870M	940.1M	980.7M	935.4M	896.3M	995.1M
Cost of revenue	579.4M	545.4M	568.1M	597.8M	600.6M	580.5M	564.1M	618.2M	641.9M	606.6M	596.5M	661.7M
Gross profit	300.1M	300.9M	308.6M	330.1M	334.8M	319.6M	305.9M	321.9M	338.8M	328.8M	299.8M	333.4M
Gross margin	34.1%	35.6%	35.2%	35.6%	35.8%	35.5%	35.2%	34.2%	34.5%	35.2%	33.4%	33.5%
Research & development	21.9M	21.3M	22.1M	24.8M	25.4M	22.7M	21.2M	21.4M	22.5M	19.2M	18.6M	19.2M
Selling, general & administrative	157.6M	155M	156.8M	161.7M	163.2M	166.1M	159.2M	151.1M	164.6M	169.6M	162.5M	158.9M
Operating expenses	179.5M	176.3M	178.9M	186.5M	188.6M	188.8M	180.4M	172.5M	187.1M	188.8M	181.1M	178.1M
Operating income	120.6M	124.6M	129.7M	143.6M	146.2M	130.8M	125.5M	149.4M	151.7M	140M	118.7M	155.3M
Operating margin	13.7%	14.7%	14.8%	15.5%	15.6%	14.5%	14.4%	15.9%	15.5%	15%	13.2%	15.6%
Non-operating income, net	1.6M	3.8M	4.9M	5.4M	-1.5M	5.2M	5.4M	-56.7M	5.1M	14.6M	5.6M	6M
Pretax income	117.3M	122.9M	129M	144M	139.4M	130.5M	125M	87M	149.7M	147.5M	116.6M	154.8M
Income tax	25.4M	30.8M	30.3M	30.5M	29.7M	31.5M	29.1M	29.2M	35.4M	33.6M	24.1M	36.7M
Net income	91.9M	92.1M	98.7M	113.5M	109.7M	99M	95.9M	57.8M	114.3M	113.9M	92.5M	118.1M
Net margin	10.4%	10.9%	11.3%	12.2%	11.7%	11%	11%	6.15%	11.7%	12.2%	10.3%	11.9%
EBITDA	147.2M	152.7M	159.2M	173.6M	169.6M	161.5M	155.9M	179.3M	181.2M	169.6M	148.9M	185.4M
EPS	0.76	0.76	0.82	0.94	0.91	0.83	0.8	0.49	0.98	0.98	0.8	1.02
Diluted EPS	0.75	0.75	0.81	0.92	0.9	0.81	0.79	0.48	0.97	0.97	0.78	1

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	4.8B	6.3B	6.2B	6.4B	6.1B	8.4B	6.7B	7.7B	9B	8.5B	10.6B
Enterprise value	5.2B	6.6B	6.6B	6.9B	6.6B	8.7B	7.2B	8.1B	9.3B	9B	11.6B
Shares outstanding	133.8M	132.6M	130.3M	128.3M	126.9M	126.4M	123.7M	121.8M	120.7M	118.7M	118.7M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	25.3	27	34.5	24	23.9	29.2	20.2	21.3	21.8	23.3	23.6
P/S	2.18	2.65	2.27	2.25	2.38	2.93	2.04	2.23	2.52	2.31	2.86
P/B	6.27	7.37	7.25	7.18	6.18	7.36	5.94	5.79	6.06	5.88	5.98
EV/EBITDA	14.6	15.8	14.2	14.4	14.9	17.7	13.1	14	14.2	13.3	16.3
EV/Sales	2.32	2.78	2.4	2.41	2.54	3.03	2.17	2.37	2.6	2.45	2.99
Earnings yield	3.95%	3.7%	2.9%	4.17%	4.19%	3.43%	4.94%	4.69%	4.58%	4.3%	4.23%
FCF yield	4.52%	4%	2.66%	3.04%	4.28%	4.1%	2.49%	5.57%	4.51%	3.98%	3.29%
PEG	—	—	—	—	—	—	—	—	—	—	1.78

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	34%	34.6%	34.2%	33.3%	33.8%	34%	32.3%	33.8%	35.5%	34.8%	34.2%
Operating margin	12.3%	13.6%	13.8%	13.6%	13.2%	13.5%	13.4%	14%	15.2%	15.1%	17.1%
Net margin	8.59%	9.81%	6.59%	9.39%	9.95%	10.1%	10.1%	10.5%	11.5%	9.94%	11.7%
ROE	24.7%	27.2%	21%	29.9%	25.9%	25.2%	29.4%	27.2%	27.8%	25.2%	28.2%
ROA	10.7%	11.8%	9.12%	12.5%	11.4%	12%	12.8%	13%	14.2%	12.3%	10.9%
ROIC	18.6%	20.2%	15.6%	20.5%	18.5%	20.3%	21.2%	20.5%	23.5%	21.4%	20.8%
Return on tangible assets	15.2%	16.4%	12.6%	19.2%	17.4%	17.6%	19.5%	25.1%	25.7%	20.4%	23%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.86	2.38	2.4	2.32	2.7	2.05	2.23	1.7	1.84	1.93	2.08
Quick ratio	1.43	1.77	1.69	1.64	1.9	1.42	1.44	1.15	1.23	1.25	1.55
Debt / equity	0.73	0.72	0.63	0.71	0.66	0.45	0.57	0.5	0.36	0.46	0.75
Debt / assets	0.32	0.31	0.27	0.3	0.29	0.21	0.25	0.24	0.18	0.22	0.2
Net debt / EBITDA	0.92	0.73	0.73	0.96	0.95	0.59	0.83	0.81	0.46	0.72	0.59
Interest coverage	13.4	17.5	18.1	19.9	20.3	30.3	30.4	25.4	26	21.3	21
Effective tax rate	25.9%	27.7%	50.4%	28.8%	23.3%	24.7%	24.1%	23.4%	22.7%	25.4%	22.8%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	16.6	17.9	21	22.2	20.3	22.6	26.7	28.2	29.7	31.1	33.6
EPS (basic)	1.43	1.76	1.38	2.08	2.03	2.27	2.69	2.95	3.43	3.09	3.09
EPS (diluted)	1.42	1.74	1.36	2.05	2	2.24	2.66	2.9	3.38	3.05	3.85
Book value per share	5.77	6.44	6.58	6.96	7.82	9	9.16	10.8	12.3	12.2	15.2
FCF per share	1.63	1.9	1.27	1.52	2.07	2.71	1.35	3.5	3.37	2.86	3.29
Cash per share	1.82	2.33	1.57	1.39	1.86	1.76	1.56	1.54	1.93	1.52	2.16
Capex per share	0.53	0.48	0.74	1.17	0.96	0.46	0.69	0.97	0.7	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	3.18%	2.68%	3.51%	5.29%	4.74%	2.04%	2.57%	3.44%	2.37%	—	—
Capex / operating cash flow	24.5%	21.4%	55.1%	41.9%	30.5%	14.1%	31.9%	21.2%	17.5%	—	—
Payout ratio	47.8%	39.7%	52.5%	37.3%	41.4%	37.4%	33.1%	31.9%	29.7%	35.9%	31.7%
Dividend yield	1.89%	1.47%	1.52%	1.56%	1.73%	1.28%	1.64%	1.49%	1.36%	1.54%	1.41%

Yield

1.41%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.32

ex-dividend Aug 17, 2026

Payout ratio

32%

of earnings

Dividend growth

13 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 17, 2026	$0.32
Jun 15, 2026	$0.32
Feb 12, 2026	$0.30

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	$879.5M	$846.3M	$876.7M	$927.9M	$935.4M	$900.1M	$870M	$940.1M	$980.7M	$935.4M	$896.3M	$995.1M
YoY change	-1.18%	-0.12%	+5.84%	+5.96%	+6.36%	+6.36%	-0.76%	+1.31%	+4.84%	+3.92%	+3.02%	+5.85%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	243.2M	308.4M	204.7M	177.8M	236.6M	222.8M	193.3M	187.1M	232.7M	180.4M
Receivables	452.4M	497.7M	534.6M	529.5M	455.3M	552.7M	616.6M	599.7M	629.7M	662.2M
Inventory	234.1M	293.5M	334.1M	332.8M	322.7M	384.5M	502.4M	418.1M	476.7M	513.6M
Total current assets	1B	1.2B	1.1B	1.1B	1.1B	1.2B	1.4B	1.3B	1.4B	1.5B
Property, plant & equipment	189.4M	192.1M	198.5M	263.6M	320.8M	207M	198.2M	222.1M	193.6M	150.7M
Goodwill & intangibles	535.6M	557.4M	548M	748M	768.2M	768.2M	891.2M	1.3B	1.3B	1.2B
Total assets	1.8B	2B	2B	2.1B	2.2B	2.4B	2.6B	2.8B	2.9B	3B
Accounts payable	143.3M	194M	201.3M	237.5M	187.7M	293.9M	338.5M	304.9M	379.4M	368.6M
Short-term debt	216.7M	73.9M	43.5M	52.3M	35.2M	48.5M	3.7M	159.1M	53.3M	37.9M
Total current liabilities	543.8M	484.1M	469.4M	482.9M	406.8M	606.6M	629.6M	756.4M	782.5M	757.2M
Long-term debt	350.2M	537.3M	499.6M	584.4M	617.4M	461M	644.3M	496.6M	483.4M	630.4M
Total liabilities	1B	1.1B	1.1B	1.2B	1.3B	1.3B	1.5B	1.4B	1.4B	1.5B
Shareholders' equity	771.4M	854.5M	857.8M	892.7M	992.9M	1.1B	1.1B	1.3B	1.5B	1.5B
Total debt	566.9M	611.2M	543.1M	636.7M	652.6M	509.5M	648M	655.7M	536.7M	668.3M
Net debt	323.7M	302.8M	338.4M	458.9M	416M	286.7M	454.7M	468.6M	304M	487.9M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Cash & short-term investments	187.1M	217.8M	193.8M	223.7M	232.7M	221.2M	189.1M	178.5M	180.4M	210.7M	194.4M	204.1M
Receivables	599.7M	582.5M	599.3M	638.4M	629.7M	631.3M	597.6M	665.6M	662.2M	655.6M	647.9M	702.1M
Inventory	418.1M	429.6M	433.4M	444.7M	476.7M	520M	540.8M	529.4M	513.6M	533.3M	555.8M	535.9M
Total current assets	1.3B	1.3B	1.3B	1.4B	1.4B	1.5B	1.4B	1.5B	1.5B	1.5B	1.5B	1.6B
Property, plant & equipment	222.1M	204.3M	202.2M	197.4M	193.6M	183M	168.9M	164.3M	150.7M	141.3M	130.7M	122.2M
Goodwill & intangibles	1.3B	1.3B	1.3B	1.3B	1.3B	1.3B	1.3B	1.2B	1.2B	1.2B	1.2B	1.2B
Total assets	2.8B	2.8B	2.8B	2.9B	2.9B	3B	3B	3B	3B	3B	3.1B	3.1B
Accounts payable	304.9M	324.9M	325.8M	370M	379.4M	373.5M	375.2M	362M	368.6M	372.9M	348.8M	353.4M
Short-term debt	159.1M	284.8M	262.1M	74.4M	53.3M	103.2M	62.7M	83.6M	37.9M	9M	6.5M	16.7M
Total current liabilities	756.4M	882.6M	893.5M	735.2M	782.5M	800.6M	765.8M	760.1M	757.2M	703.9M	665.9M	668.5M
Long-term debt	496.6M	366.6M	352M	481.8M	483.4M	538.6M	514.7M	638.8M	630.4M	671.5M	674.3M	591.6M
Total liabilities	1.4B	1.4B	1.4B	1.4B	1.4B	1.5B	1.4B	1.5B	1.5B	1.5B	1.5B	1.4B
Shareholders' equity	1.3B	1.3B	1.4B	1.5B	1.5B	1.5B	1.5B	1.5B	1.5B	1.5B	1.6B	1.7B
Total debt	655.7M	651.4M	614.1M	556.2M	536.7M	641.8M	577.4M	722.4M	668.3M	680.5M	680.8M	608.3M
Net debt	468.6M	433.6M	420.3M	332.5M	304M	420.6M	388.3M	543.9M	487.9M	469.8M	486.4M	404.2M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	190.8M	232.8M	180.3M	267.2M	257M	286.9M	332.8M	358.8M	414M	367M
Depreciation & amortization	74.9M	75.2M	76.7M	81.1M	87.6M	95.3M	93.8M	92.3M	98.4M	99.5M
Stock-based compensation	7.3M	9.1M	16.7M	15M	15.2M	14.2M	20.4M	20.4M	22M	24M
Change in working capital	6.6M	-14.6M	-79M	-7.2M	15M	2.8M	-189.2M	93M	-30M	-59.1M
Operating cash flow	288M	297M	174.1M	358.7M	401.4M	412.9M	267M	556.5M	483.8M	418.8M
Capital expenditure	-70.7M	-63.5M	-95.9M	-150.4M	-122.4M	-58.3M	-85.1M	-118.1M	-84.9M	—
Investing cash flow	-55.6M	-95.7M	-95.4M	-246.4M	-128.9M	-58.3M	-154M	-327.3M	-86.9M	-73.6M
Dividends paid	-91.2M	-92.4M	-94.7M	-99.7M	-106.4M	-107.2M	-110.1M	-114.4M	-122.8M	-131.9M
Share repurchases	-84.3M	-140.4M	-122M	-129.2M	-94.3M	-142.2M	-170.6M	-141.8M	-162.7M	-331.5M
Financing cash flow	-193.4M	-187.9M	-288M	-149.2M	-224.7M	-399.1M	-127.1M	-260.5M	-410M	-350.3M
Net change in cash	39M	13.4M	-209.3M	-36.9M	47.8M	-44.5M	-14.1M	-31.3M	-13.1M	-5.1M
Free cash flow	218.4M	251.9M	165.4M	195.1M	262.6M	342.9M	167.3M	426M	406.9M	339.9M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Net income	91.9M	92.1M	98.7M	113.5M	109.7M	99M	95.9M	57.8M	114.3M	113.9M	92.5M	118.1M
Depreciation & amortization	25M	24.3M	24.6M	24.6M	24.9M	25.5M	25M	24.6M	24.4M	24.3M	24.6M	24.1M
Stock-based compensation	3.3M	10.5M	4M	3.8M	3.7M	12.2M	4.2M	3.7M	3.9M	11.4M	4.6M	4.4M
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	118M	122.1M	123.2M	136.2M	132.3M	129.6M	119.5M	69M	167.8M	125.4M	33M	135.4M
Capital expenditure	-25.3M	-23.2M	-21.3M	-21.3M	-19.1M	-25M	-18.9M	-14.7M	—	—	—	—
Investing cash flow	-172.2M	-23.2M	-21.3M	-23.3M	-19.1M	-96M	-19.1M	-14.7M	-2.4M	0	0	0
Dividends paid	-30.3M	-30.2M	-30.1M	-30M	-32.5M	-32.4M	-32.2M	-32.3M	-35M	-34.7M	-34.6M	-34.7M
Share repurchases	-22.5M	-53.3M	-33.3M	-27.2M	-48.9M	-74.4M	-7.2M	-190.6M	-59.3M	-91.5M	-19.7M	0
Financing cash flow	-20.9M	-80.8M	-103.5M	-113M	-111M	-1.7M	-98.8M	-90.5M	-157.5M	-114.7M	-56.9M	-105.5M
Net change in cash	-75.1M	18.1M	-1.6M	-100K	2.2M	31.9M	1.6M	-36.2M	7.9M	10.7M	-23.9M	29.9M
Free cash flow	165.1M	114.8M	65.7M	120.2M	106.2M	47.9M	71.6M	73.1M	147.5M	111.2M	18M	112.1M

Date	Ratio
Mar 26, 2012	2:1
Mar 22, 2004	2:1
Jan 14, 1998	2:1
Apr 7, 1994	2:1
Jul 13, 1992	3:2
May 3, 1988	2:1

Donaldson Company, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history