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. In the quarter to July 2026, revenue grew 7.96%, EPS grew 13.3%, free cash flow grew 23.8% and total debt rose 100.9%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for five.
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Donaldson Company, Inc. (DCI) Piotroski F-score
Donaldson Company, Inc.'s Piotroski F-score for fiscal 2026 is 6 out of 9: 6 of nine tests of profitability, leverage and efficiency passed, up from 5 in fiscal 2025.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2026 | 6 | 1.00 |
| FY2025 | 5 | (3.00) |
| FY2024 | 8 | 1.00 |
| FY2023 | 7 | 1.00 |
| FY2022 | 6 | (2.00) |
| FY2021 | 8 | 1.00 |
| FY2020 | 7 | 2.00 |
| FY2019 | 5 | (2.00) |
| FY2018 | 7 | (1.00) |
| FY2017 | 8 | — |
How fiscal 2026’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 13.03% | 12.46% | Pass | 1 |
| Positive operating cash flow | 493.70m | 418.80m | Pass | 1 |
| Rising return on assets | 13.03% | 12.46% | Pass | 1 |
| Cash flow above net income | 39.90m | 51.80m | Pass | 1 |
| Falling long-term leverage | 0.37 | 0.21 | Fail | 0 |
| Rising current ratio | 2.08 | 1.93 | Pass | 1 |
| No new shares issued | 115,800,000 | 118,700,000 | Pass | 1 |
| Rising gross margin | 34.64% | 34.85% | Fail | 0 |
| Rising asset turnover | 1.12 | 1.25 | Fail | 0 |
| Piotroski F-score | Mixed | 6 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| GTES Gates Industrial Corporation PLC compare | 8 |
| PNR Pentair plc compare | 8 |
| RRX Regal Rexnord Corporation compare | 8 |
| AOS A. O. Smith Corporation compare | 8 |
| FLS Flowserve Corporation compare | 8 |
| WTS Watts Water Technologies, Inc. compare | 7 |
| DCI Donaldson Company, Inc. | 6 |
| GNRC Generac Holdings Inc. compare | 6 |
| GGG Graco Inc. compare | 5 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover