Donaldson (DCI) Financials

$84.00 +0.07 (+0.08%)

As of 09:54 AM Eastern

Annual Income Statements for Donaldson

This table shows Donaldson's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	7/31/2015	7/31/2016	7/31/2017	7/31/2018	7/31/2019	7/31/2020	7/31/2021	7/31/2022	7/31/2023	7/31/2024	7/31/2025
Net Income / (Loss) Attributable to Common Shareholders	208	191	233	180	267	257	287	333	359	414	367
Consolidated Net Income / (Loss)	208	191	233	180	267	257	287	333	359	414	367
Net Income / (Loss) Continuing Operations	208	191	233	180	267	257	287	333	359	414	367
Total Pre-Tax Income	289	257	322	364	375	335	381	438	469	535	492
Total Operating Income	288	274	324	377	388	340	385	444	480	544	495
Total Gross Profit	809	755	821	936	948	872	972	1,067	1,161	1,274	1,286
Total Revenue	2,371	2,220	2,372	2,734	2,845	2,582	2,854	3,307	3,431	3,586	3,691
Operating Revenue	2,371	2,220	2,372	2,734	2,845	2,582	2,854	3,307	3,431	3,586	3,691
Total Cost of Revenue	1,563	1,466	1,551	1,798	1,897	1,710	1,882	2,239	2,270	2,312	2,405
Operating Cost of Revenue	1,563	1,466	1,551	1,798	1,897	1,710	1,882	2,239	2,270	2,312	2,405
Total Operating Expenses	520	481	497	559	560	532	587	624	680	730	791
Selling, General & Admin Expense	460	425	443	499	498	470	519	555	602	637	641
Research & Development Expense	60	56	55	60	62	61	68	69	78	94	88
Impairment Charge	-	-	-	-	-	-	-	-	0.00	0.00	62
Total Other Income / (Expense), net	0.30	-17	-1.60	-13	-13	-4.90	-3.70	-5.10	-12	-8.80	-3.20
Interest Expense	15	21	20	21	20	17	13	15	19	21	24
Other Income / (Expense), net	16	3.90	18	7.90	6.90	13	9.30	9.80	7.70	13	21
Income Tax Expense	81	67	89	183	108	78	94	106	110	121	125
Basic Earnings per Share	$1.51	$1.43	$1.76	$1.38	$2.08	$2.03	$2.27	$2.69	$2.95	$3.43	$3.09
Weighted Average Basic Shares Outstanding	137.80M	133.80M	132.60M	130.30M	128.30M	126.90M	126.40M	123.70M	121.80M	120.70M	118.70M
Diluted Earnings per Share	$1.49	$1.42	$1.74	$1.36	$2.05	$2.00	$2.24	$2.66	$2.90	$3.38	$3.05
Weighted Average Diluted Shares Outstanding	139.40M	134.80M	134.10M	132.20M	130.30M	128.30M	128.20M	125.20M	123.60M	122.60M	120.40M
Weighted Average Basic & Diluted Shares Outstanding	137.80M	133.40M	132.30M	130.70M	126.16M	126.42M	124.01M	122.50M	121.24M	119.73M	115.91M
Cash Dividends to Common per Share	$0.67	$0.69	$0.71	$0.73	$0.78	$0.84	$0.85	-	-	$1.02	$1.11

This table shows Donaldson's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	7/31/2023	10/31/2023	1/31/2024	4/30/2024	7/31/2024	10/31/2024	1/31/2025	4/30/2025	7/31/2025	10/31/2025	1/31/2026
Net Income / (Loss) Attributable to Common Shareholders	92	92	99	114	110	99	96	58	114	114	93
Consolidated Net Income / (Loss)	92	92	99	114	110	99	96	58	114	114	93
Net Income / (Loss) Continuing Operations	92	92	99	114	110	99	96	58	114	114	93
Total Pre-Tax Income	117	123	129	144	139	131	125	87	150	148	117
Total Operating Income	121	125	130	144	146	131	126	87	152	149	119
Total Gross Profit	300	301	309	330	335	320	306	322	339	329	300
Total Revenue	880	846	877	928	935	900	870	940	981	935	896
Operating Revenue	880	846	877	928	935	900	870	940	981	935	896
Total Cost of Revenue	579	545	568	598	601	581	564	618	642	607	597
Operating Cost of Revenue	579	545	568	598	601	581	564	618	642	607	597
Total Operating Expenses	180	176	179	187	189	189	180	235	187	180	181
Selling, General & Admin Expense	158	155	157	162	163	166	159	151	165	170	163
Research & Development Expense	22	21	22	25	25	23	21	21	23	19	19
Other Special Charges / (Income)	-	-	-	-	-	0.00	0.00	-	-	-9.30	0.00
Total Other Income / (Expense), net	-3.30	-1.70	-0.70	0.40	-6.80	-0.30	-0.50	-0.40	-2.00	-1.80	-2.10
Interest Expense	5.00	5.50	5.60	5.00	5.30	5.50	5.90	5.70	7.10	7.10	7.70
Other Income / (Expense), net	1.70	3.80	4.90	5.40	-1.50	5.20	5.40	5.30	5.10	5.30	5.60
Income Tax Expense	25	31	30	31	30	32	29	29	35	34	24
Basic Earnings per Share	$0.76	$0.76	$0.82	$0.94	$0.91	$0.83	$0.80	$0.49	$0.97	$0.98	$0.80
Weighted Average Basic Shares Outstanding	121.80M	120.90M	120.50M	120.80M	120.70M	119.90M	119.60M	118.80M	118.70M	115.90M	115.60M
Diluted Earnings per Share	$0.74	$0.75	$0.81	$0.92	$0.90	$0.81	$0.79	$0.48	$0.97	$0.97	$0.78
Weighted Average Diluted Shares Outstanding	123.60M	122.60M	122.10M	122.90M	122.60M	121.90M	121.40M	120.30M	120.40M	117.80M	117.90M
Weighted Average Basic & Diluted Shares Outstanding	121.24M	120.14M	120.37M	120.41M	119.73M	119.42M	119.52M	116.52M	115.91M	115.34M	115.81M
Cash Dividends to Common per Share	-	$0.25	$0.25	$0.25	-	$0.27	$0.27	$0.27	-	$0.30	$0.30

This table details how cash moves in and out of Donaldson's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	7/31/2015	7/31/2016	7/31/2017	7/31/2018	7/31/2019	7/31/2020	7/31/2021	7/31/2022	7/31/2023	7/31/2024	7/31/2025
Net Change in Cash & Equivalents	-107	53	65	-104	-27	59	-14	-30	-6.20	46	-52
Net Cash From Operating Activities	213	291	318	263	346	387	402	253	545	493	419
Net Cash From Continuing Operating Activities	213	291	318	263	346	387	402	253	545	493	419
Net Income / (Loss) Continuing Operations	208	191	233	180	267	257	287	333	359	414	367
Consolidated Net Income / (Loss)	208	191	233	180	267	257	287	333	359	414	367
Depreciation Expense	74	75	75	77	81	88	95	94	92	98	100
Non-Cash Adjustments To Reconcile Net Income	28	19	14	-14	6.20	36	32	31	27	21	77
Changes in Operating Assets and Liabilities, net	-98	6.90	-3.90	20	-8.70	6.00	-12	-205	67	-41	-124
Net Cash From Investing Activities	-112	-56	-96	-95	-246	-129	-58	-154	-327	-87	-150
Net Cash From Continuing Investing Activities	-112	-56	-96	-95	-246	-129	-58	-154	-327	-87	-150
Purchase of Property, Plant & Equipment	-94	-73	-66	-98	-151	-124	-59	-86	-119	-86	-79
Acquisitions	-	-13	-32	-	-96	-6.50	0.00	-69	-209	-2.00	-74
Sale of Property, Plant & Equipment	0.20	2.20	2.40	1.60	0.30	2.00	0.70	0.40	0.40	0.70	2.10
Net Cash From Financing Activities	-179	-180	-165	-269	-123	-200	-363	-114	-222	-356	-322
Net Cash From Continuing Financing Activities	-179	-180	-165	-269	-123	-200	-363	-114	-222	-356	-322
Repayment of Debt	-4.20	-25	-82	-272	-70	-280	-125	-134	-189	-235	-264
Repurchase of Common Equity	-256	-84	-140	-122	-129	-94	-142	-171	-142	-163	-332
Payment of Dividends	-91	-91	-92	-95	-101	-106	-122	-110	-114	-123	-132
Issuance of Debt	153	9.60	129	204	155	262	7.90	289	189	120	388
Other Financing Activities, net	20	11	20	17	22	19	18	11	34	44	17
Effect of Exchange Rate Changes	-29	-2.20	8.30	-2.40	-	0.20	5.90	-14	-1.20	-4.10	1.00
Cash Interest Paid	15	20	20	22	19	17	11	12	21	23	22
Cash Income Taxes Paid	86	68	88	83	99	91	106	102	141	148	176

This table details how cash moves in and out of Donaldson's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	7/31/2023	10/31/2023	1/31/2024	4/30/2024	7/31/2024	10/31/2024	1/31/2025	4/30/2025	7/31/2025	10/31/2025	1/31/2026
Net Change in Cash & Equivalents	1.10	31	-24	30	9.00	-12	-32	-11	1.90	30	-16
Net Cash From Operating Activities	191	138	87	142	126	73	90	88	168	125	33
Net Cash From Continuing Operating Activities	191	138	87	142	126	73	90	88	168	125	33
Net Income / (Loss) Continuing Operations	92	92	99	114	110	99	96	58	114	114	93
Consolidated Net Income / (Loss)	92	92	99	114	110	99	96	58	114	114	93
Depreciation Expense	25	24	25	25	25	26	25	25	24	24	25
Non-Cash Adjustments To Reconcile Net Income	5.80	10	5.60	4.40	0.70	9.80	7.20	55	5.00	-1.40	8.90
Changes in Operating Assets and Liabilities, net	68	11	-42	-1.00	-9.30	-61	-38	-49	24	-11	-93
Net Cash From Investing Activities	-172	-23	-21	-23	-19	-96	-19	-15	-21	-3.40	-15
Net Cash From Continuing Investing Activities	-172	-23	-21	-23	-19	-96	-19	-15	-21	-3.40	-15
Purchase of Property, Plant & Equipment	-26	-23	-21	-21	-20	-25	-19	-15	-20	-14	-15
Net Cash From Financing Activities	-18	-79	-93	-86	-98	9.80	-98	-87	-146	-93	-38
Net Cash From Continuing Financing Activities	-18	-79	-93	-86	-98	9.80	-98	-87	-146	-93	-38
Repayment of Debt	-54	-32	-40	-141	-16	50	-9.30	-1.60	-253	-29	-2.60
Repurchase of Common Equity	-23	-53	-33	-27	-49	-74	-7.20	-191	-59	-92	-20
Payment of Dividends	-30	-30	-30	-30	-33	-32	-32	-32	-35	-35	-35
Other Financing Activities, net	2.80	1.90	11	27	4.60	12	0.50	2.60	2.80	22	19
Effect of Exchange Rate Changes	-	-5.20	3.10	-2.50	0.50	1.80	-	3.30	1.00	1.40	4.10
Cash Interest Paid	5.30	6.60	4.70	6.50	5.60	5.20	5.90	3.60	7.50	6.40	5.30
Cash Income Taxes Paid	28	22	63	30	33	20	63	51	41	26	74

This table presents Donaldson's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	7/31/2015	7/31/2016	7/31/2017	7/31/2018	7/31/2019	7/31/2020	7/31/2021	7/31/2022	7/31/2023	7/31/2024	7/31/2025
Total Assets	1,810	1,787	1,980	1,977	2,143	2,245	2,400	2,600	2,771	2,914	2,977
Total Current Assets	1,031	1,010	1,151	1,126	1,123	1,097	1,244	1,407	1,286	1,438	1,462
Cash & Equivalents	190	243	308	205	178	237	223	193	187	233	180
Accounts Receivable	460	452	498	535	530	455	553	617	600	630	662
Inventories, net	265	234	294	334	333	323	385	502	418	477	514
Prepaid Expenses	60	51	51	52	83	82	84	94	81	99	106
Plant, Property, & Equipment, net	471	470	485	509	589	632	618	594	653	646	645
Total Noncurrent Assets	308	308	344	342	431	516	538	599	832	831	871
Goodwill	224	229	238	238	303	317	323	346	481	478	494
Intangible Assets	38	39	41	36	71	67	62	100	188	172	97
Other Noncurrent Operating Assets	47	32	35	48	43	132	154	154	162	180	280
Total Liabilities & Shareholders' Equity	1,810	1,787	1,980	1,977	2,143	2,245	2,400	2,600	2,771	2,914	2,977
Total Liabilities	1,031	1,016	1,125	1,119	1,240	1,241	1,263	1,467	1,450	1,425	1,524
Total Current Liabilities	561	544	484	469	483	407	607	630	756	783	757
Short-Term Debt	189	217	74	44	52	9.50	49	3.70	159	53	38
Accounts Payable	179	143	194	201	343	188	294	339	305	379	369
Current Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	18	32	32	43	44
Current Employee Benefit Liabilities	67	61	100	104	88	71	127	114	119	141	144
Other Current Liabilities	83	85	85	87	0.00	112	92	91	85	166	163
Total Noncurrent Liabilities	470	472	641	649	757	834	657	838	693	643	767
Long-Term Debt	389	350	537	500	584	617	461	644	497	483	630
Noncurrent Deferred Revenue	-	-	21	105	111	87	81	69	57	40	19
Noncurrent Deferred & Payable Income Tax Liabilities	13	3.10	3.60	4.20	13	17	27	33	32	16	11
Other Noncurrent Operating Liabilities	69	119	79	40	49	113	88	91	108	103	107
Total Equity & Noncontrolling Interests	779	771	855	858	893	993	1,137	1,133	1,321	1,489	1,454
Total Preferred & Common Equity	779	771	855	858	887	987	1,137	1,133	1,321	1,489	1,454
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	779	771	855	858	887	987	1,137	1,133	1,321	1,489	1,454
Common Stock	758	758	758	758	758	758	764	775	783	785	794
Retained Earnings	815	905	1,041	1,122	1,282	1,430	1,608	1,846	2,088	2,378	2,610
Treasury Stock	-655	-707	-808	-899	-981	-1,033	-1,130	-1,282	-1,378	-1,475	-1,770
Accumulated Other Comprehensive Income / (Loss)	-162	-206	-157	-150	-193	-184	-118	-206	-173	-199	-181

This table presents Donaldson's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	10/31/2022	1/31/2023	4/30/2023	10/31/2023	1/31/2024	4/30/2024	10/31/2024	1/31/2025	4/30/2025	10/31/2025	1/31/2026
Total Assets	2,512	2,579	2,676	2,769	2,784	2,866	3,044	2,961	2,997	3,027	3,060
Total Current Assets	1,335	1,349	1,353	1,313	1,317	1,401	1,479	1,423	1,476	1,514	1,527
Cash & Equivalents	161	179	186	218	194	224	221	189	179	211	194
Accounts Receivable	584	575	626	583	599	638	631	598	666	656	648
Inventories, net	490	501	450	430	433	445	520	541	529	533	556
Prepaid Expenses	100	94	91	83	91	94	107	95	102	115	129
Plant, Property, & Equipment, net	591	626	641	642	647	643	647	638	648	639	645
Total Noncurrent Assets	586	604	682	813	819	823	917	901	873	874	888
Goodwill	340	350	380	469	476	475	480	469	490	495	504
Intangible Assets	95	96	139	182	179	175	168	161	102	96	95
Other Noncurrent Operating Assets	151	157	163	162	164	173	269	271	281	282	289
Total Liabilities & Shareholders' Equity	2,512	2,579	2,676	2,769	2,784	2,866	3,044	2,961	2,997	3,027	3,060
Total Liabilities	1,357	1,384	1,377	1,433	1,408	1,382	1,501	1,417	1,532	1,510	1,485
Total Current Liabilities	569	580	712	883	894	735	801	766	760	704	666
Short-Term Debt	0.20	4.00	152	285	262	74	103	63	84	9.00	6.50
Accounts Payable	321	302	311	325	326	370	374	375	362	373	349
Current Deferred & Payable Income Tax Liabilities	44	36	30	46	37	38	61	57	43	54	13
Current Employee Benefit Liabilities	99	96	106	110	110	123	135	112	135	124	123
Other Current Liabilities	106	83	83	91	98	104	103	99	114	144	174
Total Noncurrent Liabilities	788	804	665	550	514	647	700	651	772	806	819
Long-Term Debt	601	625	471	367	352	482	539	515	639	672	674
Noncurrent Deferred Revenue	70	58	59	57	40	42	40	19	20	20	20
Noncurrent Deferred & Payable Income Tax Liabilities	29	26	33	27	22	18	15	13	11	11	11
Other Noncurrent Operating Liabilities	89	96	103	99	100	106	106	104	102	104	115
Total Equity & Noncontrolling Interests	1,155	1,194	1,299	1,336	1,376	1,484	1,543	1,544	1,464	1,517	1,575
Total Preferred & Common Equity	1,155	1,194	1,299	1,336	1,376	1,484	1,543	1,544	1,464	1,517	1,575
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,155	1,194	1,299	1,336	1,376	1,484	1,543	1,544	1,464	1,517	1,575
Common Stock	780	778	780	784	782	782	791	792	792	795	796
Retained Earnings	1,933	1,963	2,057	2,180	2,219	2,333	2,476	2,508	2,566	2,724	2,747
Treasury Stock	-1,319	-1,367	-1,359	-1,420	-1,436	-1,430	-1,531	-1,532	-1,718	-1,830	-1,825
Accumulated Other Comprehensive Income / (Loss)	-240	-180	-180	-208	-189	-200	-193	-223	-176	-173	-144

This table displays calculated financial ratios and metrics derived from Donaldson's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	7/31/2015	7/31/2016	7/31/2017	7/31/2018	7/31/2019	7/31/2020	7/31/2021	7/31/2022	7/31/2023	7/31/2024	7/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-4.14%	-6.36%	6.83%	15.27%	4.05%	-9.25%	10.54%	15.86%	3.76%	4.53%	2.92%
EBITDA Growth	-13.70%	-6.64%	18.05%	10.78%	3.16%	-7.56%	11.15%	11.81%	6.05%	12.91%	-5.98%
EBIT Growth	-18.09%	-8.46%	22.80%	12.71%	2.65%	-10.76%	11.74%	15.05%	7.63%	14.10%	-7.24%
NOPAT Growth	-18.98%	-2.23%	15.11%	-20.09%	47.88%	-5.68%	11.09%	16.22%	9.19%	14.47%	-12.22%
Net Income Growth	-20.02%	-8.31%	22.01%	-22.55%	48.20%	-3.82%	11.63%	16.00%	7.81%	15.38%	-11.35%
EPS Growth	-15.34%	-4.70%	22.54%	-21.84%	50.74%	-2.44%	12.00%	18.75%	9.02%	16.55%	-9.76%
Operating Cash Flow Growth	-33.04%	36.89%	9.10%	-17.28%	31.53%	11.91%	3.85%	-37.10%	115.39%	-9.55%	-14.96%
Free Cash Flow Firm Growth	-64.40%	217.98%	-30.67%	-13.81%	-24.98%	81.58%	28.43%	-33.64%	-4.52%	152.83%	-50.58%
Invested Capital Growth	12.87%	-3.90%	5.68%	3.36%	13.83%	4.34%	2.16%	11.35%	12.59%	0.32%	8.27%
Revenue Q/Q Growth	-2.37%	-0.75%	2.88%	2.42%	0.08%	-4.07%	5.77%	3.66%	-0.31%	1.58%	1.24%
EBITDA Q/Q Growth	-5.03%	1.55%	2.41%	2.71%	-0.65%	-3.74%	7.40%	2.53%	-1.38%	3.52%	1.92%
EBIT Q/Q Growth	-6.71%	1.91%	2.83%	3.30%	-1.27%	-5.06%	8.78%	3.56%	-2.07%	4.19%	2.40%
NOPAT Q/Q Growth	-6.76%	4.37%	0.67%	25.71%	-13.99%	1.20%	6.57%	5.87%	-1.89%	5.12%	0.26%
Net Income Q/Q Growth	-7.36%	1.65%	3.88%	23.41%	-14.22%	2.43%	7.57%	5.22%	-2.45%	4.49%	1.27%
EPS Q/Q Growth	-5.70%	2.16%	4.19%	23.64%	-13.50%	2.04%	8.21%	5.98%	-2.36%	4.97%	2.35%
Operating Cash Flow Q/Q Growth	-14.57%	15.00%	-0.75%	7.00%	5.62%	-0.21%	-5.97%	5.25%	17.70%	-11.63%	11.09%
Free Cash Flow Firm Q/Q Growth	-34.40%	35.57%	-39.50%	203.89%	32.97%	-29.28%	1.12%	6.21%	-29.66%	30.23%	25.04%
Invested Capital Q/Q Growth	-0.96%	-5.81%	4.16%	-1.23%	-6.03%	-0.06%	0.99%	1.43%	4.89%	0.50%	-3.32%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	34.10%	34.00%	34.61%	34.23%	33.33%	33.76%	34.05%	32.28%	33.83%	35.54%	34.85%
EBITDA Margin	15.95%	15.90%	17.57%	16.88%	16.74%	17.05%	17.15%	16.55%	16.91%	18.27%	16.69%
Operating Margin	12.16%	12.35%	13.64%	13.79%	13.65%	13.17%	13.48%	13.41%	14.00%	15.17%	13.42%
EBIT Margin	12.81%	12.53%	14.40%	14.08%	13.89%	13.66%	13.81%	13.71%	14.22%	15.52%	13.99%
Profit (Net Income) Margin	8.78%	8.59%	9.81%	6.59%	9.39%	9.95%	10.05%	10.06%	10.46%	11.54%	9.94%
Tax Burden Percent	72.11%	74.13%	72.30%	49.59%	71.22%	76.67%	75.30%	75.91%	76.55%	77.34%	74.56%
Interest Burden Percent	95.00%	92.56%	94.29%	94.47%	94.96%	95.07%	96.70%	96.71%	96.06%	96.16%	95.31%
Effective Tax Rate	27.89%	25.87%	27.70%	50.41%	28.78%	23.33%	24.70%	24.09%	23.45%	22.66%	25.44%
Return on Invested Capital (ROIC)	19.34%	18.19%	20.77%	15.89%	21.62%	18.74%	20.17%	21.95%	21.40%	23.09%	19.78%
ROIC Less NNEP Spread (ROIC-NNEP)	19.46%	14.55%	20.40%	13.81%	19.29%	17.89%	19.41%	20.98%	19.60%	21.46%	19.18%
Return on Net Nonoperating Assets (RNNOA)	4.02%	6.43%	7.86%	5.17%	8.74%	8.22%	6.63%	7.37%	7.85%	6.38%	5.16%
Return on Equity (ROE)	23.37%	24.62%	28.64%	21.06%	30.36%	26.96%	26.80%	29.32%	29.24%	29.47%	24.94%
Cash Return on Invested Capital (CROIC)	7.25%	22.17%	15.25%	12.58%	8.68%	14.50%	18.03%	11.21%	9.55%	22.76%	11.84%
Operating Return on Assets (OROA)	16.19%	15.47%	18.13%	19.46%	19.18%	16.07%	16.97%	18.13%	18.17%	19.59%	17.53%
Return on Assets (ROA)	11.09%	10.61%	12.36%	9.11%	12.97%	11.72%	12.35%	13.31%	13.36%	14.57%	12.46%
Return on Common Equity (ROCE)	23.37%	24.62%	28.64%	21.06%	30.09%	26.51%	26.59%	29.32%	29.24%	29.47%	24.94%
Return on Equity Simple (ROE_SIMPLE)	26.72%	24.73%	27.24%	21.02%	30.11%	26.04%	25.23%	29.37%	27.17%	27.80%	0.00%
Net Operating Profit after Tax (NOPAT)	208	203	234	187	276	261	290	337	368	421	369
NOPAT Margin	8.77%	9.15%	9.86%	6.84%	9.72%	10.10%	10.15%	10.18%	10.71%	11.73%	10.01%
Net Nonoperating Expense Percent (NNEP)	-0.12%	3.64%	0.37%	2.07%	2.32%	0.86%	0.76%	0.97%	1.79%	1.63%	0.60%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	17.41%
Cost of Revenue to Revenue	65.90%	66.00%	65.39%	65.77%	66.67%	66.24%	65.95%	67.72%	66.17%	64.46%	65.15%
SG&A Expenses to Revenue	19.40%	19.15%	18.66%	18.25%	17.50%	18.22%	18.19%	16.78%	17.56%	17.75%	17.37%
R&D to Revenue	2.54%	2.50%	2.31%	2.19%	2.19%	2.37%	2.38%	2.09%	2.28%	2.61%	2.38%
Operating Expenses to Revenue	21.94%	21.65%	20.97%	20.44%	19.69%	20.59%	20.57%	18.87%	19.83%	20.36%	21.43%
Earnings before Interest and Taxes (EBIT)	304	278	342	385	395	353	394	453	488	557	516
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	378	353	417	462	476	440	489	547	580	655	616
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.02	5.47	6.50	6.50	6.61	5.78	6.95	5.70	5.66	6.03	5.75
Price to Tangible Book Value (P/TBV)	7.56	8.38	9.65	9.55	11.43	9.47	10.49	9.39	11.47	10.70	9.68
Price to Revenue (P/Rev)	1.65	1.90	2.34	2.04	2.06	2.21	2.77	1.95	2.18	2.50	2.26
Price to Earnings (P/E)	18.80	22.13	23.87	30.93	21.96	22.22	27.54	19.39	20.82	21.68	22.76
Dividend Yield	2.31%	2.54%	1.93%	1.69%	1.70%	1.86%	1.35%	1.69%	1.53%	1.37%	1.55%
Earnings Yield	5.32%	4.52%	4.19%	3.23%	4.55%	4.50%	3.63%	5.16%	4.80%	4.61%	4.39%
Enterprise Value to Invested Capital (EV/IC)	3.75	4.15	5.06	4.94	4.66	4.31	5.64	4.27	4.36	5.08	4.55
Enterprise Value to Revenue (EV/Rev)	1.80	2.05	2.47	2.16	2.23	2.37	2.87	2.09	2.31	2.59	2.39
Enterprise Value to EBITDA (EV/EBITDA)	11.30	12.88	14.06	12.81	13.32	13.90	16.74	12.63	13.68	14.16	14.35
Enterprise Value to EBIT (EV/EBIT)	14.06	16.34	17.16	15.37	16.05	17.35	20.78	15.24	16.27	16.67	17.12
Enterprise Value to NOPAT (EV/NOPAT)	20.55	22.36	25.04	31.64	22.94	23.46	28.27	20.52	21.60	22.05	23.93
Enterprise Value to Operating Cash Flow (EV/OCF)	20.08	15.60	18.44	22.50	18.34	15.81	20.37	27.33	14.58	18.84	21.11
Enterprise Value to Free Cash Flow (EV/FCFF)	54.83	18.35	34.11	39.95	57.11	30.34	31.62	40.20	48.38	22.36	39.98
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.74	0.73	0.72	0.63	0.71	0.62	0.45	0.57	0.50	0.36	0.46
Long-Term Debt to Equity	0.50	0.45	0.63	0.58	0.65	0.62	0.41	0.57	0.38	0.32	0.43
Financial Leverage	0.21	0.44	0.39	0.37	0.45	0.46	0.34	0.35	0.40	0.30	0.27
Leverage Ratio	2.11	2.32	2.32	2.31	2.34	2.30	2.17	2.20	2.19	2.02	2.00
Compound Leverage Factor	2.00	2.15	2.18	2.18	2.22	2.19	2.10	2.13	2.10	1.95	1.91
Debt to Total Capital	42.62%	42.36%	41.70%	38.77%	41.36%	38.44%	30.94%	36.38%	33.18%	26.49%	31.50%
Short-Term Debt to Total Capital	13.94%	16.19%	5.04%	3.11%	3.40%	0.58%	2.95%	0.21%	8.05%	2.63%	1.79%
Long-Term Debt to Total Capital	28.68%	26.17%	36.66%	35.66%	37.96%	37.86%	28.00%	36.17%	25.13%	23.86%	29.71%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	1.00%	1.02%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	57.38%	57.64%	58.30%	61.23%	57.64%	60.53%	69.06%	63.62%	66.82%	73.51%	68.50%
Debt to EBITDA	1.53	1.61	1.47	1.18	1.34	1.42	1.04	1.18	1.13	0.82	1.09
Net Debt to EBITDA	0.95	0.92	0.73	0.73	0.96	0.89	0.59	0.83	0.81	0.46	0.79
Long-Term Debt to EBITDA	1.03	0.99	1.29	1.08	1.23	1.40	0.94	1.18	0.86	0.74	1.02
Debt to NOPAT	2.78	2.79	2.61	2.91	2.30	2.40	1.76	1.92	1.78	1.28	1.81
Net Debt to NOPAT	1.74	1.59	1.29	1.81	1.66	1.50	0.99	1.35	1.27	0.72	1.32
Long-Term Debt to NOPAT	1.87	1.72	2.30	2.67	2.11	2.37	1.59	1.91	1.35	1.15	1.71
Altman Z-Score	5.08	5.27	5.87	6.21	5.97	5.69	6.74	5.84	6.20	7.05	6.61
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.87%	1.68%	0.78%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.84	1.86	2.38	2.40	2.32	2.70	2.05	2.23	1.70	1.84	1.93
Quick Ratio	1.21	1.28	1.67	1.58	1.46	1.70	1.28	1.29	1.04	1.10	1.11
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	78	248	172	148	111	202	259	172	164	415	221
Operating Cash Flow to CapEx	227.35%	412.02%	500.47%	274.14%	229.92%	316.18%	689.37%	297.06%	461.05%	580.09%	545.31%
Free Cash Flow to Firm to Interest Expense	5.13	11.97	8.81	6.95	5.58	11.59	19.92	11.54	8.55	19.39	9.14
Operating Cash Flow to Interest Expense	14.00	14.07	16.30	12.34	17.38	22.24	30.92	16.97	28.36	23.01	17.31
Operating Cash Flow Less CapEx to Interest Expense	7.84	10.66	13.04	7.84	9.82	15.21	26.43	11.26	22.21	19.05	14.13
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.26	1.23	1.26	1.38	1.38	1.18	1.23	1.32	1.28	1.26	1.25
Accounts Receivable Turnover	5.08	4.87	4.99	5.30	5.35	5.24	5.66	5.66	5.64	5.83	5.71
Inventory Turnover	6.03	5.87	5.88	5.73	5.69	5.22	5.32	5.05	4.93	5.17	4.86
Fixed Asset Turnover	5.14	4.72	4.97	5.50	5.18	4.23	4.57	5.46	5.50	5.52	5.72
Accounts Payable Turnover	7.90	9.09	9.20	9.10	6.97	6.45	7.82	7.08	7.06	6.76	6.43
Days Sales Outstanding (DSO)	71.90	75.00	73.10	68.90	68.26	69.61	64.46	64.54	64.70	62.56	63.88
Days Inventory Outstanding (DIO)	60.54	62.15	62.08	63.69	64.17	69.95	68.57	72.28	74.00	70.64	75.16
Days Payable Outstanding (DPO)	46.23	40.16	39.69	40.11	52.36	56.61	46.70	51.54	51.72	54.02	56.77
Cash Conversion Cycle (CCC)	86.21	96.99	95.49	92.48	80.08	82.95	86.33	85.28	86.98	79.18	82.27
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,140	1,095	1,157	1,196	1,362	1,421	1,451	1,616	1,820	1,826	1,941
Invested Capital Turnover	2.21	1.99	2.11	2.32	2.22	1.86	1.99	2.16	2.00	1.97	1.98
Increase / (Decrease) in Invested Capital	130	-45	62	39	165	59	31	165	204	5.90	148
Enterprise Value (EV)	4,272	4,545	5,859	5,915	6,342	6,117	8,188	6,909	7,940	9,279	8,839
Market Capitalization	3,911	4,222	5,556	5,576	5,868	5,710	7,902	6,454	7,471	8,975	8,351
Book Value per Share	$5.73	$5.79	$6.52	$6.65	$6.96	$7.83	$9.05	$9.22	$10.89	$12.37	$12.47
Tangible Book Value per Share	$3.80	$3.78	$4.39	$4.53	$4.03	$4.78	$6.00	$5.60	$5.37	$6.97	$7.40
Total Capital	1,357	1,338	1,466	1,401	1,539	1,631	1,647	1,781	1,976	2,026	2,122
Total Debt	578	567	611	543	637	627	510	648	656	537	668
Total Long-Term Debt	389	350	537	500	584	617	461	644	497	483	630
Net Debt	361	324	303	338	459	390	287	455	469	304	488
Capital Expenditures (CapEx)	94	71	64	96	150	122	58	85	118	85	77
Debt-free, Cash-free Net Working Capital (DFCFNWC)	442	439	432	495	514	463	463	587	502	476	562
Debt-free Net Working Capital (DFNWC)	659	683	741	700	692	699	686	781	689	709	742
Net Working Capital (NWC)	470	466	667	656	640	690	637	777	530	656	705
Net Nonoperating Expense (NNE)	-0.22	12	1.16	6.64	9.26	3.76	2.79	3.87	8.80	6.81	2.39
Net Nonoperating Obligations (NNO)	361	324	303	338	459	417	314	483	499	337	488
Total Depreciation and Amortization (D&A)	74	75	75	77	81	88	95	94	92	98	100
Debt-free, Cash-free Net Working Capital to Revenue	18.63%	19.79%	18.23%	18.11%	18.07%	17.93%	16.23%	17.76%	14.62%	13.28%	15.23%
Debt-free Net Working Capital to Revenue	27.80%	30.74%	31.23%	25.59%	24.32%	27.09%	24.03%	23.61%	20.07%	19.77%	20.11%
Net Working Capital to Revenue	19.83%	20.98%	28.12%	24.00%	22.49%	26.72%	22.33%	23.50%	15.44%	18.28%	19.09%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.51	$1.43	$1.76	$1.38	$2.08	$2.03	$2.27	$2.69	$2.95	$3.43	$3.09
Adjusted Weighted Average Basic Shares Outstanding	137.75M	133.80M	132.60M	130.30M	128.30M	126.90M	126.40M	123.70M	121.80M	120.70M	118.70M
Adjusted Diluted Earnings per Share	$1.49	$1.42	$1.74	$1.36	$2.05	$2.00	$2.24	$2.66	$2.90	$3.38	$3.05
Adjusted Weighted Average Diluted Shares Outstanding	139.38M	134.80M	134.10M	132.20M	130.30M	128.30M	128.20M	125.20M	123.60M	122.60M	120.40M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	137.80M	132.68M	129.90M	128.07M	126.16M	126.42M	124.01M	122.50M	121.24M	119.73M	115.91M
Normalized Net Operating Profit after Tax (NOPAT)	208	203	234	264	276	261	290	337	368	421	416
Normalized NOPAT Margin	8.77%	9.15%	9.86%	9.65%	9.72%	10.10%	10.15%	10.18%	10.71%	11.73%	11.26%
Pre Tax Income Margin	12.17%	11.59%	13.58%	13.30%	13.19%	12.98%	13.35%	13.26%	13.66%	14.93%	13.34%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	19.99	13.43	17.51	18.07	19.85	20.26	30.31	30.42	25.41	26.01	21.34
NOPAT to Interest Expense	13.68	9.82	12.00	8.78	13.89	14.99	22.28	22.60	19.15	19.66	15.26
EBIT Less CapEx to Interest Expense	13.83	10.02	14.26	13.57	12.30	13.23	25.82	24.71	19.26	22.05	18.17
NOPAT Less CapEx to Interest Expense	7.52	6.40	8.74	4.27	6.33	7.95	17.80	16.88	13.00	15.70	12.09
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	43.83%	47.80%	39.69%	52.52%	37.72%	41.40%	42.38%	33.08%	31.88%	29.66%	35.94%
Augmented Payout Ratio	166.99%	91.98%	100.00%	120.19%	86.08%	78.09%	91.95%	84.35%	71.40%	68.96%	126.27%

This table displays calculated financial ratios and metrics derived from Donaldson's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	7/31/2023	10/31/2023	1/31/2024	4/30/2024	7/31/2024	10/31/2024	1/31/2025	4/30/2025	7/31/2025	10/31/2025	1/31/2026
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.18%	-0.12%	5.84%	5.96%	6.36%	6.36%	-0.76%	1.31%	4.84%	3.92%	3.02%
EBITDA Growth	-5.21%	6.41%	13.47%	16.43%	15.14%	5.76%	-2.07%	-32.43%	6.84%	10.77%	-4.49%
EBIT Growth	-7.77%	6.03%	14.16%	17.69%	18.32%	5.92%	-2.75%	-37.79%	8.36%	13.68%	-5.04%
NOPAT Growth	-6.94%	4.66%	12.41%	18.36%	21.77%	6.27%	-2.97%	-48.70%	0.67%	16.19%	-2.20%
Net Income Growth	-8.92%	5.62%	14.77%	21.13%	19.37%	7.49%	-2.84%	-49.07%	4.19%	15.05%	-3.55%
EPS Growth	-8.64%	7.14%	15.71%	21.05%	21.62%	8.00%	-2.47%	-47.83%	7.78%	19.75%	-1.27%
Operating Cash Flow Growth	75.21%	16.75%	-14.96%	6.23%	-33.96%	-47.17%	3.91%	-38.02%	33.17%	72.02%	-63.50%
Free Cash Flow Firm Growth	-72.30%	-7,452.45%	-770.09%	168.79%	200.13%	-15.98%	23.34%	-524.12%	-122.92%	197.69%	94.51%
Invested Capital Growth	12.59%	10.97%	9.26%	4.71%	0.32%	10.96%	7.60%	10.55%	8.27%	1.16%	4.91%
Revenue Q/Q Growth	0.43%	-3.77%	3.59%	5.84%	0.81%	-3.77%	-3.34%	8.06%	4.32%	-4.62%	-4.18%
EBITDA Q/Q Growth	-1.21%	3.67%	4.26%	9.05%	-2.30%	-4.78%	-3.47%	-24.76%	54.48%	-1.27%	-16.77%
EBIT Q/Q Growth	-3.40%	4.99%	4.83%	10.70%	-2.89%	-6.01%	-3.75%	-29.18%	69.15%	-1.40%	-19.60%
NOPAT Q/Q Growth	-1.19%	-1.18%	6.28%	14.06%	1.65%	-13.75%	-2.97%	-39.69%	99.48%	-0.46%	-18.32%
Net Income Q/Q Growth	-1.92%	0.22%	7.17%	14.99%	-3.35%	-9.75%	-3.13%	-39.73%	97.75%	-0.35%	-18.79%
EPS Q/Q Growth	-2.63%	1.35%	8.00%	13.58%	-2.17%	-10.00%	-2.47%	-39.24%	102.08%	0.00%	-19.59%
Operating Cash Flow Q/Q Growth	43.24%	-27.67%	-36.96%	62.64%	-10.95%	-42.14%	24.01%	-2.99%	91.33%	-25.27%	-73.68%
Free Cash Flow Firm Q/Q Growth	-138.17%	25.12%	32.05%	156.77%	246.68%	-186.74%	55.09%	-214.08%	75.68%	384.82%	-102.52%
Invested Capital Q/Q Growth	4.89%	-2.75%	3.19%	-0.53%	0.50%	7.56%	0.07%	2.19%	-3.32%	2.32%	3.78%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	34.13%	35.55%	35.20%	35.58%	35.79%	35.51%	35.16%	34.24%	34.55%	35.15%	33.45%
EBITDA Margin	16.75%	18.04%	18.16%	18.71%	18.13%	17.94%	17.92%	12.48%	18.48%	19.13%	16.61%
Operating Margin	13.71%	14.72%	14.79%	15.48%	15.63%	14.53%	14.43%	9.30%	15.47%	15.96%	13.24%
EBIT Margin	13.91%	15.17%	15.35%	16.06%	15.47%	15.11%	15.05%	9.86%	15.99%	16.53%	13.87%
Profit (Net Income) Margin	10.45%	10.88%	11.26%	12.23%	11.73%	11.00%	11.02%	6.15%	11.65%	12.18%	10.32%
Tax Burden Percent	78.35%	74.94%	76.51%	78.82%	78.69%	75.86%	76.72%	66.44%	76.35%	77.22%	79.33%
Interest Burden Percent	95.91%	95.72%	95.84%	96.64%	96.34%	95.96%	95.49%	93.85%	95.47%	95.41%	93.81%
Effective Tax Rate	21.65%	25.06%	23.49%	21.18%	21.31%	24.14%	23.28%	33.56%	23.65%	22.78%	20.67%
Return on Invested Capital (ROIC)	21.45%	22.50%	22.51%	24.25%	24.20%	21.50%	21.21%	11.77%	23.35%	23.25%	19.58%
ROIC Less NNEP Spread (ROIC-NNEP)	20.93%	22.20%	22.40%	24.33%	22.92%	21.44%	21.12%	11.71%	22.96%	22.94%	19.21%
Return on Net Nonoperating Assets (RNNOA)	8.37%	7.79%	8.08%	6.72%	6.82%	6.36%	6.30%	3.48%	6.18%	6.68%	5.59%
Return on Equity (ROE)	29.83%	30.28%	30.60%	30.97%	31.02%	27.86%	27.51%	15.26%	29.52%	29.93%	25.17%
Cash Return on Invested Capital (CROIC)	9.55%	11.70%	13.04%	17.94%	22.76%	12.47%	15.03%	9.25%	11.84%	18.36%	14.24%
Operating Return on Assets (OROA)	17.77%	19.71%	19.92%	20.46%	19.52%	18.93%	19.03%	12.26%	20.03%	20.29%	17.28%
Return on Assets (ROA)	13.35%	14.14%	14.61%	15.59%	14.80%	13.78%	13.94%	7.65%	14.60%	14.95%	12.86%
Return on Common Equity (ROCE)	29.83%	30.28%	30.60%	30.97%	31.02%	27.86%	27.51%	15.26%	29.52%	29.93%	25.17%
Return on Equity Simple (ROE_SIMPLE)	0.00%	27.22%	27.36%	26.70%	0.00%	27.28%	27.07%	24.75%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	94	93	99	113	115	99	96	58	116	115	94
NOPAT Margin	10.74%	11.03%	11.32%	12.20%	12.30%	11.02%	11.07%	6.18%	11.81%	12.33%	10.51%
Net Nonoperating Expense Percent (NNEP)	0.53%	0.29%	0.12%	-0.08%	1.28%	0.05%	0.09%	0.06%	0.39%	0.31%	0.37%
Return On Investment Capital (ROIC_SIMPLE)	-	-	4.99%	-	-	-	4.54%	2.66%	5.46%	5.25%	4.17%
Cost of Revenue to Revenue	65.87%	64.45%	64.80%	64.43%	64.21%	64.49%	64.84%	65.76%	65.45%	64.85%	66.55%
SG&A Expenses to Revenue	17.93%	18.32%	17.89%	17.43%	17.45%	18.45%	18.30%	16.07%	16.78%	18.13%	18.13%
R&D to Revenue	2.49%	2.52%	2.52%	2.67%	2.72%	2.52%	2.44%	2.28%	2.29%	2.05%	2.08%
Operating Expenses to Revenue	20.42%	20.83%	20.41%	20.10%	20.16%	20.98%	20.74%	24.94%	19.08%	19.19%	20.21%
Earnings before Interest and Taxes (EBIT)	122	128	135	149	145	136	131	93	157	155	124
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	147	153	159	174	170	162	156	117	181	179	149
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.66	5.15	5.53	5.81	6.03	5.68	5.48	5.37	5.75	6.44	7.44
Price to Tangible Book Value (P/TBV)	11.47	10.05	10.57	10.34	10.70	9.79	9.26	9.00	9.68	10.55	12.01
Price to Revenue (P/Rev)	2.18	2.01	2.19	2.44	2.50	2.41	2.33	2.15	2.26	2.62	3.12
Price to Earnings (P/E)	20.82	18.93	20.23	21.77	21.68	20.81	20.26	21.68	22.76	25.57	30.98
Dividend Yield	1.53%	1.69%	1.55%	1.40%	1.37%	1.42%	1.49%	1.64%	1.55%	1.35%	1.15%
Earnings Yield	4.80%	5.28%	4.94%	4.59%	4.61%	4.81%	4.94%	4.61%	4.39%	3.91%	3.23%
Enterprise Value to Invested Capital (EV/IC)	4.36	4.14	4.40	4.93	5.08	4.68	4.51	4.18	4.55	5.15	5.92
Enterprise Value to Revenue (EV/Rev)	2.31	2.13	2.31	2.54	2.59	2.52	2.44	2.30	2.39	2.75	3.25
Enterprise Value to EBITDA (EV/EBITDA)	13.68	12.42	13.21	14.16	14.16	13.83	13.41	13.90	14.35	16.16	19.50
Enterprise Value to EBIT (EV/EBIT)	16.27	14.78	15.70	16.77	16.67	16.27	15.80	16.66	17.12	19.13	23.11
Enterprise Value to NOPAT (EV/NOPAT)	21.60	19.68	21.00	22.38	22.05	21.52	20.91	22.80	23.93	26.56	31.86
Enterprise Value to Operating Cash Flow (EV/OCF)	14.58	12.97	14.64	16.07	18.84	21.48	20.56	22.28	21.11	21.72	29.50
Enterprise Value to Free Cash Flow (EV/FCFF)	48.38	37.19	35.24	28.12	22.36	39.44	31.09	47.51	39.98	28.22	42.59
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.50	0.49	0.45	0.37	0.36	0.42	0.37	0.49	0.46	0.45	0.43
Long-Term Debt to Equity	0.38	0.27	0.26	0.32	0.32	0.35	0.33	0.44	0.43	0.44	0.43
Financial Leverage	0.40	0.35	0.36	0.28	0.30	0.30	0.30	0.30	0.27	0.29	0.29
Leverage Ratio	2.19	2.12	2.09	1.99	2.02	2.02	1.97	1.99	2.00	1.98	1.93
Compound Leverage Factor	2.10	2.03	2.00	1.92	1.95	1.94	1.88	1.87	1.91	1.89	1.81
Debt to Total Capital	33.18%	32.77%	30.86%	27.26%	26.49%	29.38%	27.21%	33.04%	31.50%	30.97%	30.18%
Short-Term Debt to Total Capital	8.05%	14.33%	13.17%	3.65%	2.63%	4.72%	2.96%	3.82%	1.79%	0.41%	0.29%
Long-Term Debt to Total Capital	25.13%	18.45%	17.69%	23.62%	23.86%	24.65%	24.26%	29.21%	29.71%	30.56%	29.89%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	66.82%	67.23%	69.14%	72.74%	73.51%	70.62%	72.79%	66.96%	68.50%	69.03%	69.82%
Debt to EBITDA	1.13	1.11	1.01	0.88	0.82	0.97	0.87	1.20	1.09	1.07	1.09
Net Debt to EBITDA	0.81	0.74	0.69	0.53	0.46	0.63	0.59	0.90	0.79	0.74	0.78
Long-Term Debt to EBITDA	0.86	0.62	0.58	0.76	0.74	0.81	0.78	1.06	1.02	1.06	1.08
Debt to NOPAT	1.78	1.75	1.60	1.39	1.28	1.50	1.36	1.96	1.81	1.77	1.78
Net Debt to NOPAT	1.27	1.17	1.10	0.83	0.72	0.99	0.92	1.48	1.32	1.22	1.27
Long-Term Debt to NOPAT	1.35	0.99	0.92	1.20	1.15	1.26	1.21	1.73	1.71	1.74	1.76
Altman Z-Score	5.76	5.56	5.95	6.57	6.58	6.25	6.41	5.88	6.21	6.86	7.69
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.70	1.49	1.47	1.91	1.84	1.85	1.86	1.94	1.93	2.15	2.29
Quick Ratio	1.04	0.91	0.89	1.17	1.10	1.06	1.03	1.11	1.11	1.23	1.26
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-109	-82	-55	31	109	-95	-43	-134	-32	92	-2.33
Operating Cash Flow to CapEx	742.41%	594.83%	408.45%	664.32%	636.36%	291.60%	478.31%	596.60%	826.60%	3,688.24%	220.00%
Free Cash Flow to Firm to Interest Expense	-21.80	-14.84	-9.90	6.30	20.59	-17.21	-7.21	-23.43	-4.57	13.03	-0.30
Operating Cash Flow to Interest Expense	38.16	25.09	15.54	28.30	23.77	13.25	15.32	15.39	23.63	17.66	4.29
Operating Cash Flow Less CapEx to Interest Expense	33.02	20.87	11.73	24.04	20.04	8.71	12.12	12.81	20.77	17.18	2.34
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.28	1.30	1.30	1.27	1.26	1.25	1.26	1.24	1.25	1.23	1.25
Accounts Receivable Turnover	5.64	5.88	5.93	5.58	5.83	6.00	6.07	5.59	5.71	5.79	6.03
Inventory Turnover	4.93	4.90	4.88	5.12	5.17	4.94	4.81	4.85	4.86	4.62	4.49
Fixed Asset Turnover	5.50	5.56	5.47	5.50	5.52	5.64	5.66	5.65	5.72	5.79	5.85
Accounts Payable Turnover	7.06	6.99	7.26	6.73	6.76	6.72	6.68	6.46	6.43	6.51	6.80
Days Sales Outstanding (DSO)	64.70	62.08	61.59	65.38	62.56	60.86	60.12	65.28	63.88	63.03	60.57
Days Inventory Outstanding (DIO)	74.00	74.42	74.83	71.26	70.64	73.84	75.88	75.22	75.16	79.08	81.25
Days Payable Outstanding (DPO)	51.72	52.24	50.27	54.27	54.02	54.31	54.60	56.52	56.77	56.04	53.64
Cash Conversion Cycle (CCC)	86.98	84.26	86.15	82.37	79.18	80.39	81.40	83.97	82.27	86.07	88.18
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,820	1,770	1,826	1,817	1,826	1,964	1,965	2,008	1,941	1,986	2,062
Invested Capital Turnover	2.00	2.04	1.99	1.99	1.97	1.95	1.92	1.91	1.98	1.89	1.86
Increase / (Decrease) in Invested Capital	204	175	155	82	5.90	194	139	192	148	23	97
Enterprise Value (EV)	7,940	7,318	8,035	8,958	9,279	9,180	8,857	8,400	8,839	10,235	12,212
Market Capitalization	7,471	6,884	7,614	8,625	8,975	8,760	8,469	7,856	8,351	9,765	11,726
Book Value per Share	$10.89	$11.02	$11.45	$12.33	$12.37	$12.89	$12.93	$12.25	$12.47	$13.08	$13.66
Tangible Book Value per Share	$5.37	$5.65	$6.00	$6.93	$6.97	$7.47	$7.66	$7.30	$7.40	$7.98	$8.46
Total Capital	1,976	1,988	1,990	2,040	2,026	2,185	2,122	2,187	2,122	2,197	2,256
Total Debt	656	651	614	556	537	642	577	722	668	681	681
Total Long-Term Debt	497	367	352	482	483	539	515	639	630	672	674
Net Debt	469	434	420	333	304	421	388	544	488	470	486
Capital Expenditures (CapEx)	26	23	21	21	20	25	19	15	20	3.40	15
Debt-free, Cash-free Net Working Capital (DFCFNWC)	502	498	492	516	476	561	530	621	562	609	673
Debt-free Net Working Capital (DFNWC)	689	715	686	740	709	782	719	799	742	820	868
Net Working Capital (NWC)	530	431	424	666	656	679	657	715	705	811	861
Net Nonoperating Expense (NNE)	2.59	1.27	0.54	-0.32	5.35	0.23	0.38	0.27	1.53	1.39	1.67
Net Nonoperating Obligations (NNO)	499	434	450	333	337	421	421	544	488	470	486
Total Depreciation and Amortization (D&A)	25	24	25	25	25	26	25	25	24	24	25
Debt-free, Cash-free Net Working Capital to Revenue	14.62%	14.51%	14.15%	14.62%	13.28%	15.41%	14.60%	17.02%	15.23%	16.34%	17.94%
Debt-free Net Working Capital to Revenue	20.07%	20.86%	19.72%	20.96%	19.77%	21.48%	19.80%	21.92%	20.11%	21.99%	23.12%
Net Working Capital to Revenue	15.44%	12.55%	12.18%	18.85%	18.28%	18.65%	18.07%	19.62%	19.09%	21.75%	22.95%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.76	$0.76	$0.82	$0.94	$0.91	$0.83	$0.80	$0.49	$0.97	$0.98	$0.80
Adjusted Weighted Average Basic Shares Outstanding	121.80M	120.90M	120.50M	120.80M	120.70M	119.90M	119.60M	118.80M	118.70M	115.90M	115.60M
Adjusted Diluted Earnings per Share	$0.74	$0.75	$0.81	$0.92	$0.90	$0.81	$0.79	$0.48	$0.97	$0.97	$0.78
Adjusted Weighted Average Diluted Shares Outstanding	123.60M	122.60M	122.10M	122.90M	122.60M	121.90M	121.40M	120.30M	120.40M	117.80M	117.90M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	121.24M	120.14M	120.37M	120.41M	119.73M	119.42M	119.52M	116.52M	115.91M	115.34M	115.81M
Normalized Net Operating Profit after Tax (NOPAT)	94	93	99	113	115	99	96	99	116	108	94
Normalized NOPAT Margin	10.74%	11.03%	11.32%	12.20%	12.30%	11.02%	11.07%	10.56%	11.81%	11.56%	10.51%
Pre Tax Income Margin	13.34%	14.52%	14.71%	15.52%	14.90%	14.50%	14.37%	9.25%	15.26%	15.77%	13.01%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	24.46	23.35	24.04	29.80	27.30	24.73	22.19	16.26	22.08	21.77	16.14
NOPAT to Interest Expense	18.90	16.98	17.72	22.64	21.71	18.04	16.32	10.19	16.31	16.24	12.23
EBIT Less CapEx to Interest Expense	19.32	19.13	20.23	25.54	23.57	20.18	18.98	13.68	19.23	21.30	14.19
NOPAT Less CapEx to Interest Expense	13.76	12.76	13.92	18.38	17.97	13.50	13.12	7.61	13.45	15.76	10.28
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	31.88%	32.00%	31.48%	30.44%	29.66%	29.70%	30.40%	35.71%	35.94%	35.14%	36.09%
Augmented Payout Ratio	71.40%	73.08%	61.56%	64.84%	68.96%	73.37%	68.12%	124.31%	126.27%	126.42%	131.49%

Financials Breakdown Chart

Key Financial Trends

Here is a concise trend snapshot for DONALDSON Co Inc (NYSE: DCI) based on the provided quarterly statements over the last four years. The focus is on revenue, profitability, cash flow, and leverage dynamics.

Profitability stability: Gross margins have remained in the mid-30s% range across 2022–2025, indicating a stable per-dollar profitability despite mix changes.
Revenue scale and trend: Revenue generally stayed around the high $0.8B to $1.0B level, with 2024–2025 quarters peaking near $0.98B, reflecting sustained demand and scale.
Cash flow strength in several quarters: Positive operating cash flow exists in multiple periods (for example, Q4 2025 CFO ~ $167.8M; Q1 2025 CFO ~ $125.4M), supporting dividends and debt management.
Dividend consistency: Cash dividends per share have hovered around $0.27–$0.30, signaling a stable, shareholder-friendly payout policy.
Seasonality and forecasting: Quarterly results show seasonal patterns (Q4 typically strongest, with softer mid-year quarters), which can aid near-term forecasting but require seasonal adjustment in models.
Expense stability: Selling, General & Administrative and R&D expenses have remained relatively steady, helping maintain margins over time.
Liquidity position: Cash and cash equivalents have trended in the $190–210M range with total assets around $3.0B, suggesting solid liquidity for ongoing operations.
Near-term cash flow weakness in 2026: Net income in Q2 2026 was ~$92.5M while net cash from continuing operating activities was only ~ $33M, indicating working-capital timing effects or headwinds on cash conversion.
One-time impairment impact: A $62M impairment charge in Q3 2025 reduced operating income and quarterly earnings, potentially distorting longer-term profitability signals.
Rising leverage concerns: Long-term debt rose toward roughly $0.67B by 2026, contributing to higher interest costs and leverage risk, even as interest expense remains modest.

05/14/26 09:54 AM ETAI Generated. May Contain Errors.

Donaldson Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Donaldson's financial year ends in July. Their financial year 2025 ended on July 31, 2025.

Donaldson's net income appears to be on an upward trend, with a most recent value of $367 million in 2025, rising from $208.10 million in 2015. The previous period was $414 million in 2024. See Donaldson's forecast for analyst expectations on what's next for the company.

Donaldson's total operating income in 2025 was $495.40 million, based on the following breakdown:

Total Gross Profit: $1.29 billion
Total Operating Expenses: $790.80 million

Over the last 10 years, Donaldson's total revenue changed from $2.37 billion in 2015 to $3.69 billion in 2025, a change of 55.7%.

Donaldson's total liabilities were at $1.52 billion at the end of 2025, a 6.9% increase from 2024, and a 47.8% increase since 2015.

In the past 10 years, Donaldson's cash and equivalents has ranged from $177.80 million in 2019 to $308.40 million in 2017, and is currently $180.40 million as of their latest financial filing in 2025.

Over the last 10 years, Donaldson's book value per share changed from 5.73 in 2015 to 12.47 in 2025, a change of 117.8%.

Related Companies

Financial statements for NYSE:DCI last updated on 3/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Donaldson (DCI) Financials

Financials Breakdown Chart

Key Financial Trends

Donaldson Financials - Frequently Asked Questions

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Donaldson (DCI) Financials

Annual Income Statements for Donaldson

Quarterly Income Statements for Donaldson

Annual Cash Flow Statements for Donaldson

Quarterly Cash Flow Statements for Donaldson

Annual Balance Sheets for Donaldson

Quarterly Balance Sheets for Donaldson

Annual Metrics And Ratios for Donaldson

Quarterly Metrics And Ratios for Donaldson

Financials Breakdown Chart

Key Financial Trends

Donaldson Financials - Frequently Asked Questions

When does Donaldson's fiscal year end?

How has Donaldson's net income changed over the last 10 years?

What is Donaldson's operating income?

How has Donaldson's revenue changed over the last 10 years?

How much debt does Donaldson have?

How much cash does Donaldson have?

How has Donaldson's book value per share changed over the last 10 years?

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools