What it does
The company states that it designs, manufactures and provides aftermarket support for engineered motion-and-control solutions. It serves aerospace & defense, in-plant and industrial equipment, transportation, off-highway, energy, and HVAC & refrigeration markets. The filing identifies two reportable segments: Diversified Industrial and Aerospace Systems. Diversified Industrial supplies motion-control systems and components, including standard and customer-specific products. Aerospace Systems supplies airframe and engine components and systems for commercial aerospace and defense programs, as well as aftermarket parts and maintenance.
Source: Parker-Hannifin Corporation Form 10-K for fiscal 2026, Item 1 — sec.gov
How it makes money
The filing says the company sells Diversified Industrial products to OEMs and distributors, including for aftermarket replacement markets. Aerospace Systems sells to OEMs and provides aftermarket parts and maintenance directly to end users. In fiscal 2026, Diversified Industrial revenue was $14.4 billion and Aerospace Systems revenue was $7.1 billion; the segment table below provides the associated revenue mix and year-over-year changes. The company states that no single product contributed more than one percent of total net sales in the year.
| Segment | Revenue, FY2026 | Share | Change on the year |
|---|---|---|---|
| Diversified Industrial | $14.4 billion | 67.2% | 5.66% |
| Aerospace Systems | $7.1 billion | 32.8% | 14.2% |
Source: Parker-Hannifin Corporation Form 10-K for fiscal 2026, Item 1 — sec.gov
Customers and geography
The company states that it serves several hundred thousand OEM and distribution customer locations. Diversified Industrial products are marketed primarily through field sales employees and independent distributors worldwide, while Aerospace Systems products are sold through regional sales organizations directly to OEMs and end users. For fiscal 2026, the facts list $14.4 billion of revenue in North America, including $13.8 billion in the United States, and $7.7 billion of non-U.S. revenue. The filing says its divisions operate in 44 countries.
| Region | Revenue, FY2026 | Share | Change on the year |
|---|---|---|---|
| North America | $14.4 billion | 33.5% | 7.31% |
| United States | $13.8 billion | 32.1% | 7.52% |
| Non-US | $7.7 billion | 17.9% | 9.76% |
| EMEA | $4.2 billion | 9.72% | 8.18% |
| Asia Pacific | $2.7 billion | 6.30% | 14.7% |
| Latin America | $224.0 million | 0.52% | 2.75% |
Source: Parker-Hannifin Corporation Form 10-K for fiscal 2026, Item 1 — sec.gov
Competition
The filing says Parker operates in highly competitive markets, with hundreds of competitors across its markets and products, and that no single competitor competes across all of its products. For Diversified Industrial, the filing names Bosch Rexroth AG, Copeland, Danaher Corporation, Danfoss A/S, Donaldson Company, Inc., Emerson/ASCO, Festo SE & Co., Freudenberg-NOK, Gates Corporation, IMI/Norgren, SMC Corporation, Swagelok Company, and Trelleborg AB. For Aerospace Systems, it names Crane Co., Eaton Corporation plc, Honeywell Aerospace Inc., Moog Inc., RTX Corporation, Safran S.A., Senior plc, Triumph Group, Inc., and Woodward, Inc.
Source: Parker-Hannifin Corporation Form 10-K for fiscal 2026, Item 1 — sec.gov
Key risks
- Risks arising from uncertainty in worldwide and regional economic conditions may harm the business and make long-term performance difficult to project.
- Demand for and supply of products may be adversely affected by factors the company cannot predict or control.
- The company is subject to risks relating to acquisitions, joint ventures, integration of acquired companies, and divestitures.
- Increasing costs of certain employee and retiree benefits could adversely affect its liability for those benefits.
- National and international laws and regulations, including anti-corruption laws, apply to the business and employees.
Source: Parker-Hannifin Corporation Form 10-K for fiscal 2026, Item 1A — sec.gov
People and operations
As of June 30, 2026, the company employed 59,850 people, whom it calls team members; the filing states that approximately 30,830 worked for foreign subsidiaries. The company describes its operating structure as decentralized. It also says that its divisions operate in 44 countries. The filing states that its overall business is generally not seasonal because of its breadth and global scope. Its primary energy source for both segments is electric power.
Source: Parker-Hannifin Corporation Form 10-K for fiscal 2026, Item 1 — sec.gov