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Donaldson Company, Inc.

DCI Industrials Specialty Industrial Machinery

Donaldson Company, Inc.’s revenue for fiscal 2026 (year ended July 2026) was $3.9 billion, up 5.28% from fiscal 2025.

Revenue
+7.96%
EPS
+13.3%
Free cash flow
+23.8%
Total debt
+100.9%

Quarter to July 2026, against a year earlier

83.27 2.25 −2.63%
Market cap
$9.6B
P/E
21.3×
Fwd P/E
19.3×
Dividend yield
1.49%
F-score
6/9
Altman Z
5.70
Beneish M
−2.21
Dividend safety
92/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2026

  • Mobile Solutions Segment
  • Industrial Solutions Segment
  • Life Sciences Segment

Every year since 2016 →

Insider Decisions last twelve months

Sold, $m 8.58
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 2 — — 1 1 — — — 1 1 — —
Insider Ownership 0.50%

Capital & Financial Ratios $m

Size
Market Cap 9,640.00
Revenue ttm 3,885.60
Net income ttm 453.80
Free cash flow ttm 436.80
Net debt Q 1,029.60
Valuation
P/E 21.30
Forward P/E 19.30
Price / sales 2.48
Forward P/S Powerpack
Price / FCF 22.08
Price / book 5.47
Financial health
Current ratio Q 2.08 (at or above 1.5: strong)
Debt / equity Q 0.73
Interest coverage Q 12.01
Growth
Revenue growth Q +7.96% (above 0%: growing)
Operating income growth Q +16.41% (above 0%: growing)
EPS, this year +8.65%
EPS, next year A +11.86%
Revenue, next year A +7.86%
EPS, past 5 yrs +11.44%
EPS, next 5 yrs A +9.95%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.7×, against a ten-year median of 2.5×; over the ten years it ranged from 1.7× in 2016 to 3.3× in 2026.
P/E against its own 10 years 23.07%
10-year low 10-year high
P/S against its own 10 years 60.29%
10-year low 10-year high
P/B against its own 10 years 7.81%
10-year low 10-year high
EV/Sales against its own 10 years 80.27%
10-year low 10-year high
EV/FCF against its own 10 years 34.36%
10-year low 10-year high

Dividends raised every year since 2017

Yield
1.49%
Annual rate
1.24
Payout ratio
32.2%
Growth, 2017–25
+6.44%/yr
  1. 0.71 ’17
  2. 0.75 ’18 +6
  3. 0.82 ’19 +9
  4. 0.84 ’20 +2
  5. 0.87 ’21 +4
  6. 0.91 ’22 +5
  7. 0.98 ’23 +8
  8. 1.06 ’24 +8
  9. 1.17 ’25 +10
  10. 1.20 ’26e +3
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 2026
Cash 187 233 180 250
Receivables 600 630 662 758
Inventory 418 477 514 539
Other — — — —
1,286 1,438 1,462 1,670
2023 2024 2025 2026
Payables 305 379 369 379
ST’ Debt 125 25 7 —
Other 85 166 163 208
756 783 757 804

Compound Annual Growth %

10y 5y 3y
Sales 5.76% 6.37% 4.24%
Cash Flow 5.42% 4.20% (3.21%)
Earnings 9.05% 9.60% 8.14%
Book Value 8.63% 9.18% 10.14%

Earnings Trends EPS, adjusted, against the consensus

Q4 FY26 Estimate 1.12 Actual 1.15

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q1 FY26 0.93 0.94 Beat by 0.01
Q2 FY26 0.90 0.83 Miss by 0.07
Q3 FY26 1.05 1.06 Beat by 0.01
Q4 FY26 1.12 1.15 Beat by 0.03
Q1 FY27 0.97 — Reports 3 December 2026

EPS $

Oct Jan Apr Jul Year
’26 — — — — —
’26 0.97 0.78 1.00 1.10 3.85
’25 0.81 0.79 0.48 0.97 3.05
’24 0.75 0.81 0.92 0.90 3.38
’23 0.70 0.70 0.76 0.75 2.90
’22 0.61 0.57 0.67 0.81 2.66
’21 0.48 0.44 0.66 0.66 2.24
Fiscal quarters ending in the months shown.

Revenue $m

Oct Jan Apr Jul Year
’26 — — — — —
’26 935 896 995 1,059 3,886
’25 900 870 940 981 3,691
’24 846 877 928 935 3,586
’23 847 828 876 880 3,431
’22 761 803 853 890 3,307
’21 637 679 765 773 2,854
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Oct Jan Apr Jul Year
’26 — — — — —
’26 125 33 135 200 494
’25 73 90 88 168 419
’24 138 87 142 126 493
’23 118 102 133 191 545
’22 43 37 64 109 253
’21 129 73 103 96 402
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Oct Jan Apr Jul Year
’26 — — — — —
’26 122 18 112 185 437
’25 48 72 73 150 342
’24 115 66 120 107 408
’23 90 73 98 166 426
’22 25 22 41 81 168
’21 110 62 94 78 344
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 9.3% a year for ten years. It grew 5.3% a year over the last ten.

Implied
9.3%
10 years, reported
5.3%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to July

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 2,372 2,734 2,845 2,582 2,854 3,307 3,431 3,586 3,691 3,886 +5.6% 4,191 4,396 4,620 +5.9%
Gross margin, % 34.61 34.23 33.33 33.76 34.05 32.28 33.83 35.54 34.85 34.64 0.0 pt
EBT 322 364 375 335 381 438 469 535 492 586 +6.9%
EBT margin, % 13.58 13.30 13.19 12.98 13.35 13.26 13.66 14.93 13.34 15.08 +1.5 pt
Net income 233 180 267 257 287 333 359 414 367 454 +7.7%
Per share, $
Per share, $ Revenue 17.89 20.98 22.17 20.35 22.58 26.73 28.17 29.71 31.09 33.55 +7.2%
Earnings 1.76 1.38 2.08 2.03 2.27 2.69 2.95 3.43 3.09 3.92 +9.3%
Cash flow 2.40 2.02 2.70 3.05 3.18 2.04 4.47 4.08 3.53 4.26 +6.6%
Capex (0.48) (0.74) (1.17) (0.96) (0.46) (0.69) (0.97) (0.70) (0.65) (0.49) +0.3%
Free cash flow 1.92 1.28 1.52 2.09 2.72 1.36 3.50 3.38 2.88 3.77 +7.8%
Book value 6.44 6.58 6.96 7.82 9.00 9.16 10.84 12.34 12.25 15.24 +10.0%
Shares, m 133 130 128 127 126 124 122 121 119 116 (1.5%)
Valuation, ×
Valuation, × P/E 27.14 34.07 24.01 23.81 29.31 20.43 21.30 21.81 23.22 24.10 24.9
P/S 2.65 2.27 2.25 2.38 2.95 2.06 2.23 2.52 2.31 2.81 2.4
P/B 7.37 7.25 7.18 6.18 7.40 6.00 5.79 6.06 5.88 6.19 6.5
EV/Sales 2.77 2.39 2.41 2.53 3.05 2.20 2.36 2.60 2.44 3.08 2.6
EV/FCF 25.86 39.07 35.14 24.64 25.37 43.35 18.97 22.83 26.31 27.36 28.9
Cash, $m
Cash, $m Operating cash flow 318 263 346 387 402 253 545 493 419 494 +5.0%
Capex (63) (96) (150) (122) (58) (85) (118) (85) (77) (57) (1.2%)
Free cash flow 254 167 195 265 344 168 426 408 342 437 +6.2%
Balance, $m
Balance, $m Working capital 667 656 640 690 637 777 530 656 705 866 +2.9%
Net debt 280 310 457 387 305 471 435 276 457 1,030 +15.6%
Shareholders’ equity 855 858 893 993 1,137 1,133 1,321 1,489 1,454 1,764 +8.4%
Returns, %
Returns, % ROA 12.36 9.11 12.97 11.72 12.35 13.31 13.36 14.57 12.46 13.03 +0.7 pt
ROIC 17.84 20.17 17.98 15.41 16.67 17.28 17.10 19.27 16.21 13.42 (4.4) pt
ROE 28.64 21.06 30.53 27.26 26.94 29.32 29.24 29.47 24.94 28.20 (0.4) pt
People
People Employees 13,200 14,000 14,100 12,400 13,100 14,000 13,000 14,000 15,000 15,500 +1.8%
Revenue/emp, $m 0.18 0.20 0.20 0.21 0.22 0.24 0.26 0.26 0.25 0.25 +3.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Jul 2026 · latest quarter Jul 2026 · fundamentals updated 2 Oct 2026

Business profile

Updated

Donaldson Company makes filtration products and systems that remove contaminants from air, liquids and gases. Its customers use them to protect engines and machinery, keep industrial processes running and maintain controlled environments for applications such as food production and semiconductor manufacturing. Founded in 1915, the company is led by President and Chief Executive Officer Richard B. Lewis.

The Mobile Solutions business supplies filters and related equipment for vehicles and machinery used in construction, mining, agriculture and transportation. It sells filters for new equipment as well as replacements for machines already in use. Its products also include exhaust and emissions systems, sensors and monitoring equipment.

Where the money comes from and where it goes Fiscal 2026

Fiscal 2026: revenue by segment, and margins
Mobile Solutions Segment 2,420 62.27%
Industrial Solutions Segment 1,133 29.15%
Life Sciences Segment 333 8.58%
Gross margin 34.64%
Operating margin 15.44%
Pre-tax margin 15.08%

Revenue by segment since 2016

Donaldson Company, Inc. vs peers in Specialty Industrial Machinery (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
WTS Watts Water Technologies, Inc. $11.6B 26.0× 28.0× +19.01% (above 0%: growing) +77.14% (above 0%: growing) +18.94% (above 0%: growing) 55.08% 26.21% Compare
PNR Pentair plc $11.1B 18.4× 17.5× −4.46% (below 0%: shrinking) −19.55% (below 0%: shrinking) −14.65% (below 0%: shrinking) 40.48% 20.06% Compare
GGG Graco Inc. $10.9B 21.5× 21.7× +7.92% (above 0%: growing) −9.64% (below 0%: shrinking) −16.87% (below 0%: shrinking) 50.52% 25.26% Compare
RRX Regal Rexnord Corporation $10.7B 46.2× 27.7× +6.08% (above 0%: growing) n/m +11.74% (above 0%: growing) 37.17% 5.13% Compare
GNRC Generac Holdings Inc. $10.2B 33.7× 25.5× +16.19% (above 0%: growing) +63.16% (above 0%: growing) +36.49% (above 0%: growing) 39.86% 12.40% Compare
INIO INNIO N.V. $10.0B 0.0× 51.4× +57.25% (above 0%: growing) +176.28% (above 0%: growing) +8.09% (above 0%: growing) 31.48% 16.58% Compare
FLS Flowserve Corporation $9.9B 39.1× 22.9× +5.39% (above 0%: growing) −52.07% (below 0%: shrinking) −67.06% (below 0%: shrinking) 33.48% 12.97% Compare
DCI Donaldson Company, Inc. $9.6B 21.3× 19.3× +7.96% (above 0%: growing) +13.27% (above 0%: growing) +23.80% (above 0%: growing) 36.26% 16.68%
AOS A. O. Smith Corporation $8.9B 18.5× 17.8× −0.21% (below 0%: shrinking) −0.74% (below 0%: shrinking) −32.29% (below 0%: shrinking) 38.78% 18.63% Compare
Median of peers $10.4B 23.8× 24.2× +7.00% −0.74% −3.28% 39.32% 17.60%

All 79 Specialty Industrial Machinery stocks →

From the latest earnings call

Updated

  • CEO Rich Lewis said Donaldson is integrating Facet Filtration, with teams collaborating on product development and identifying cross-selling opportunities.
  • CFO Brad Pogalz said power-generation production inefficiencies continued to pressure margins, but Donaldson expects to recover fully by the middle of fiscal 2027.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 90.56%
Held by the ten largest 48.11%
Holder Shares Stake Change
Vanguard 12.70m 10.96% +88.92k
BlackRock 11.94m 10.30% +724.69k
State Farm 9.14m 7.89% 0.00
State Street 5.03m 4.34% +262.23k
Fidelity (FMR) 3.93m 3.39% +103.24k
Geode Capital Management 3.12m 2.69% −211.57k
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 2.78m 2.40% −141.38k
Morgan Stanley 2.51m 2.16% +96.08k
Pictet Asset Management 2.31m 1.99% +504.24k
FULLER & THALER ASSET MANAGEMENT, INC. 2.30m 1.98% +186.47k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 6 October 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 8.30m 6.43m 116.00
2024 7.84m 11.20m 118.00
2023 7.18m 10.27m 98.00
2022 7.04m 5.17m 83.00

Ownership

Directors and executive officers, together 2.20%
BlackRock, Inc. 9.50%
State Farm Mutual Automobile Insurance 8.30%
Vanguard Portfolio Management 5.60%
Vanguard Capital Management 5.20%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Donaldson Company, Inc. (DCI) Latest News

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Impact 3 · · MarketBeat

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DCI metrics, ten years each

stockrow.com/DCI · Data as of Oct 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com