Financials

Donaldson Company Inc. financials

DCI Machinery

Donaldson Company Inc., founded in 1915 and headquartered in Bloomington, Minnesota, provides engineered filtration solutions for industrial, aerospace, and automotive markets. The company’s revenue is primarily driven by advanced air, liquid, and gas filtration products, backed by comprehensive aftermarket services. Under CEO Kirk Kennedy, Donaldson maintains a strong market position with an estimated 10-15% share in its niche, while actively pursuing digital initiatives and strategic acquisitions for future growth.

Snapshot

Donaldson Company Inc. reported $3.69B in revenue in fiscal 2025, up 2.9% year over year, with an operating margin of 13.4%.

Revenue (FY2025): $3.69B
YoY growth: +2.9%
Operating margin: 13.4%
Direction: Expanding

Financial statements

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Total Revenues	3,690,900	3,586,300	3,430,800	3,306,600
Cost of Sales	2,404,700	2,311,900	2,270,200	2,239,200
Gross Profit	1,286,200	1,274,400	1,160,600	1,067,400
Selling, General & Administrative Expenses	641,000	636,700	602,300	554,800
Research & Development Expenses	87,800	93,600	78,100	69,100
Other Operating Expenses	62,000	—	—	—
Operating Profit	495,400	544,100	480,200	443,500
Interest Expense	(24,200)	(21,400)	(19,200)	(14,900)
Non-Operating Income	21,000	12,600	7,700	9,800
Total Non-Operating Income	(3,200)	(8,800)	(11,500)	(5,100)
Income Before Provision for Income Taxes	492,200	535,300	468,700	438,400
Provision for Income Taxes	125,200	121,300	109,900	105,600
Consolidated Net Income	367,000	414,000	358,800	332,800
Net Income Attributable to Common Shareholders	367,000	414,000	358,800	332,800
Basic EPS	3.09	3.43	2.95	2.69
Diluted EPS	3.05	3.38	2.90	2.66
Basic Weighted Average Shares Outstanding	118,700	120,700	121,800	123,700
Diluted Weighted Average Shares Outstanding	120,400	122,600	123,600	125,200
Shares Outstanding	116,042	120,110	121,114	122,554

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Cash and Cash Equivalents	180,400	232,700	187,100	193,300
Total Cash and Cash Equivalents	180,400	232,700	187,100	193,300
Accounts Receivable	662,200	629,700	599,700	616,600
Total Trade Receivables	662,200	629,700	599,700	616,600
Inventories	513,600	476,700	418,100	502,400
Other Current Assets	105,500	99,000	81,100	94,200
Total Current Assets	1,461,700	1,438,100	1,286,000	1,406,500
Net Property, Plant & Equipment	644,500	645,500	652,900	594,400
Net Intangible Assets	97,400	171,900	188,100	99,800
Goodwill	493,600	478,400	481,100	345,800
Other Long-Term Assets	280,000	180,400	162,400	153,800
Total Assets	2,977,200	2,914,300	2,770,500	2,600,300
Accounts Payable	368,600	379,400	304,900	338,500
Accrued Expenses	144,300	140,900	119,400	113,800
Short-Term Debt	31,200	28,300	34,100	3,700
Current Portion of Long-Term Debt	6,700	25,000	125,000	—
Unearned Revenue	—	—	25,300	22,300
Other Current Liabilities	206,400	208,900	147,700	151,300
Total Current Liabilities	757,200	782,500	756,400	629,600
Long-Term Debt	630,400	483,400	496,600	644,300
Other Long-Term Liabilities	136,100	159,300	196,800	193,200
Total Long-Term Liabilities	766,500	642,700	693,400	837,500
Total Liabilities	1,523,700	1,425,200	1,449,800	1,467,100
Common Stock	758,200	758,200	758,200	758,200
Treasury Stock	(1,769,900)	(1,474,500)	(1,377,600)	(1,282,100)
Additional Paid-in Capital	35,800	26,800	24,800	17,000
Accumulated Other Comprehensive Income	(180,700)	(198,900)	(172,500)	(205,600)
Retained Earnings	2,610,100	2,377,500	2,087,800	1,845,700
Total Common Shareholders' Equity	1,453,500	1,489,100	1,320,700	1,133,200
Total Shareholders' Equity	1,453,500	1,489,100	1,320,700	1,133,200
Total Liabilities and Shareholders' Equity	2,977,200	2,914,300	2,770,500	2,600,300

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Net Income	367,000	414,000	358,800	332,800
Depreciation & Amortization	99,500	98,400	92,300	93,800
Share-Based Compensation Expense	24,000	22,000	20,400	20,400
Other Adjustments	28,500	(25,300)	(9,000)	9,500
Changes in Trade Receivables	(21,400)	(39,400)	30,100	(100,800)
Changes in Inventories	(32,200)	(65,600)	99,800	(147,800)
Changes in Accounts Payable	(5,500)	80,300	(39,000)	51,100
Changes in Accrued Expenses	(13,000)	32,000	(14,200)	(8,900)
Changes in Income Taxes Payable	(34,400)	4,400	(11,500)	4,900
Changes in Unearned Revenue	—	—	—	8,300
Changes in Other Operating Activities	6,300	(28,300)	16,800	(10,500)
Cash from Operating Activities	418,800	492,500	544,500	252,800
Capital Expenditure	(78,900)	(85,600)	(118,500)	(85,500)
Proceeds from Sale of Property, Plant & Equipment	2,100	700	400	400
Payments for Business Acquisitions	(73,600)	(2,000)	(209,200)	(68,900)
Cash from Investing Activities	(150,400)	(86,900)	(327,300)	(154,000)
Issuance of Short-Term Debt	1,200	(5,700)	30,400	(43,900)
Net Issuance / (Repayments) of Short-Term Debt	1,200	(5,700)	30,400	(43,900)
Issuance of Long-Term Debt	388,100	119,700	189,200	289,300
Repayments of Long-Term Debt	(265,000)	(228,800)	(219,600)	(90,000)
Net Issuance / (Repayments) of Long-Term Debt	123,100	(109,100)	(30,400)	199,300
Issuance of Common Shares	28,600	54,100	38,300	12,900
Repurchases of Common Shares	(337,200)	(170,700)	(146,100)	(172,400)
Net Issuance / (Repurchases) of Common Shares	(308,600)	(116,600)	(107,800)	(159,500)
Common Share Dividends Paid	(131,900)	(122,800)	(114,400)	(110,100)
Other Financing Activities	(5,500)	(1,700)	—	—
Cash from Financing Activities	(321,700)	(355,900)	(222,200)	(114,200)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	1,000	(4,100)	(1,200)	(14,100)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash	(52,300)	45,600	(6,200)	(29,500)

Key metrics

$8.35B

Market Cap

23.60x

P/E

2.26x

P/S

14.86x

EV/EBITDA

24.9%

Return on Equity

16.6%

Return on Invested Capital

1.93x

Current Ratio

1.5%

Dividend Yield

9.2%

Free Cash Flow Margin

Quarterly trend

Quarter	Revenue	YoY growth	Operating margin	Operating income
Q3 2026	$995M	+5.9%	15.6%	$155M
Q2 2026	$896M	+3.0%	13.2%	$119M
Q1 2026	$935M	+3.9%	16.0%	$149M
Q4 2025	$981M	+4.8%	15.5%	$152M
Q3 2025	$940M	—	9.3%	$87M
Q2 2025	$870M	—	14.4%	$126M
Q1 2025	$900M	—	14.5%	$131M
Q4 2024	$935M	—	15.6%	$146M

Margins

34.8%

Gross margin

13.4%

Operating margin

9.9%

Net margin

SourceCompany financial filings (income statement, balance sheet, cash flow) Last updated2026-06-19

Snapshot

Financial statements

Key metrics

Quarterly trend

Margins

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