Gates Industrial (GTES) Financials

$24.07 -0.11 (-0.45%)

Closing price 05/21/2026 03:59 PM Eastern

Extended Trading

$23.92 -0.15 (-0.60%)

As of 06:36 AM Eastern

Annual Income Statements for Gates Industrial

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

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2016	12/30/2017	12/29/2018	12/28/2019	1/2/2021	1/1/2022	12/31/2022	12/30/2023	12/28/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	58	151	245	690	79	297	221	233	195	251
Consolidated Net Income / (Loss)	84	183	271	694	90	331	243	256	220	276
Net Income / (Loss) Continuing Operations	72	182	272	695	90	331	243	257	221	277
Total Pre-Tax Income	93	110	304	199	71	350	258	285	328	340
Total Operating Income	305	403	497	347	211	484	384	460	472	465
Total Gross Profit	1,061	1,218	1,331	1,143	1,035	1,339	1,251	1,359	1,359	1,372
Total Revenue	2,747	3,042	3,348	3,087	2,793	3,474	3,554	3,570	3,408	3,443
Operating Revenue	2,747	3,042	3,348	3,087	2,793	3,474	3,554	3,570	3,408	3,443
Total Cost of Revenue	1,686	1,824	2,017	1,945	1,758	2,135	2,304	2,211	2,050	2,072
Operating Cost of Revenue	1,686	1,824	2,017	1,945	1,758	2,135	2,304	2,211	2,050	2,072
Total Operating Expenses	756	815	834	796	824	855	867	899	886	906
Selling, General & Admin Expense	738	777	806	777	777	853	854	885	877	876
Other Operating Expenses / (Income)	2.80	-0.30	14	9.10	-1.00	-9.30	0.20	0.20	0.00	0.00
Impairment Charge	3.20	2.80	0.60	0.70	5.20	0.60	1.10	0.10	0.00	3.50
Restructuring Charge	12	36	13	8.60	43	11	12	14	9.80	27
Total Other Income / (Expense), net	-212	-293	-193	-148	-140	-134	-126	-175	-144	-125
Interest Expense	216	235	176	158	154	134	139	163	156	126
Interest & Investment Income	-	-	-	-	-	-	0.00	0.00	-13	0.00
Other Income / (Expense), net	4.00	-59	-17	9.80	14	-0.90	13	-12	24	0.80
Income Tax Expense	21	-73	32	-496	-19	18	15	28	108	63
Net Income / (Loss) Discontinued Operations	12	0.70	-0.60	-0.60	-0.30	0.00	-0.40	-0.60	-0.60	-0.80
Net Income / (Loss) Attributable to Noncontrolling Interest	27	31	26	4.00	11	34	22	24	25	25
Basic Earnings per Share	$0.23	$0.62	$0.86	$2.38	$0.27	$1.02	$0.78	$0.86	$0.75	$0.98
Weighted Average Basic Shares Outstanding	-	245.52M	285.91M	290.47M	290.85M	291.35M	282.60M	264.27M	255.41M	253.86M
Diluted Earnings per Share	$0.23	$0.60	$0.84	$2.37	$0.27	$1.00	$0.77	$0.84	$0.74	$0.96
Weighted Average Diluted Shares Outstanding	-	245.52M	285.91M	290.47M	290.85M	291.35M	282.60M	264.27M	255.41M	253.86M
Weighted Average Basic & Diluted Shares Outstanding	-	245.52M	285.91M	290.47M	290.85M	291.35M	282.60M	264.27M	255.41M	253.86M

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024	3/29/2025	6/28/2025	9/27/2025	12/31/2025	3/28/2026
Net Income / (Loss) Attributable to Common Shareholders	79	63	40	71	48	37	62	57	82	51	60
Consolidated Net Income / (Loss)	86	69	46	78	55	41	68	63	89	56	66
Net Income / (Loss) Continuing Operations	86	69	46	78	55	41	69	63	89	56	66
Total Pre-Tax Income	87	72	81	90	69	88	94	80	95	71	78
Total Operating Income	126	120	117	133	116	113	126	116	115	109	110
Total Gross Profit	343	338	330	357	336	335	345	360	342	325	338
Total Revenue	873	863	863	886	831	829	848	884	856	856	851
Operating Revenue	873	863	863	886	831	829	848	884	856	856	851
Total Cost of Revenue	530	526	533	528	495	494	503	524	514	531	513
Operating Cost of Revenue	530	526	533	528	495	494	503	524	514	531	513
Total Operating Expenses	218	217	213	224	220	223	219	244	226	216	228
Selling, General & Admin Expense	213	216	212	221	217	220	216	231	219	208	227
Impairment Charge	0.10	-	0.00	0.00	0.00	-	0.60	0.20	0.40	2.30	0.00
Restructuring Charge	3.90	1.40	1.60	2.80	2.70	2.70	2.00	13	6.60	5.20	1.20
Total Other Income / (Expense), net	-39	-49	-36	-43	-47	-25	-32	-36	-21	-38	-32
Interest Expense	40	38	38	49	35	34	30	29	35	33	30
Other Income / (Expense), net	0.20	-10	1.50	6.00	1.20	9.30	-2.40	-6.80	14	-5.40	-2.10
Income Tax Expense	1.00	2.40	35	12	14	47	25	17	6.10	15	12
Net Income / (Loss) Discontinued Operations	-0.10	-0.10	-0.10	-0.30	-0.10	-0.10	-0.30	-0.30	-0.10	-0.10	-0.20
Net Income / (Loss) Attributable to Noncontrolling Interest	6.80	6.20	6.10	6.90	7.50	4.50	6.30	6.60	7.00	5.00	6.50
Basic Earnings per Share	$0.30	$0.23	$0.15	$0.27	$0.18	$0.15	$0.24	$0.22	$0.32	$0.20	$0.24
Weighted Average Basic Shares Outstanding	264.11M	264.27M	261.38M	261.61M	254.72M	255.41M	257.77M	257.58M	258.28M	253.86M	253.88M
Diluted Earnings per Share	$0.29	$0.23	$0.15	$0.26	$0.18	$0.15	$0.24	$0.22	$0.31	$0.19	$0.23
Weighted Average Diluted Shares Outstanding	264.11M	264.27M	261.38M	261.61M	254.72M	255.41M	257.77M	257.58M	258.28M	253.86M	253.88M
Weighted Average Basic & Diluted Shares Outstanding	264.11M	264.27M	261.38M	261.61M	254.72M	255.41M	257.77M	257.58M	258.28M	253.86M	253.88M

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

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2016	12/30/2017	12/29/2018	12/28/2019	1/2/2021	1/1/2022	12/31/2022	12/30/2023	12/28/2024	12/31/2025
Net Change in Cash & Equivalents	189	37	-141	212	-113	137	-80	143	-39	130
Net Cash From Operating Activities	377	320	314	349	309	382	266	481	380	478
Net Cash From Continuing Operating Activities	377	320	314	349	309	382	266	481	380	478
Net Income / (Loss) Continuing Operations	84	183	271	694	90	331	243	256	220	276
Consolidated Net Income / (Loss)	84	183	271	694	90	331	243	256	220	276
Depreciation Expense	241	212	219	222	219	223	217	218	217	214
Non-Cash Adjustments To Reconcile Net Income	8.30	103	51	18	33	45	37	-7.20	-19	-12
Changes in Operating Assets and Liabilities, net	43	-178	-227	-586	-33	-217	-231	14	-38	-0.40
Net Cash From Investing Activities	-68	-227	-244	-78	-78	-86	-91	-82	-104	-119
Net Cash From Continuing Investing Activities	-68	-227	-244	-78	-78	-86	-91	-82	-104	-119
Purchase of Property, Plant & Equipment	-59	-101	-166	-72	-58	-78	-78	-61	-83	-73
Acquisitions	-9.10	-121	-68	-11	-9.20	-9.30	-9.40	-10	-24	-41
Purchase of Investments	-	-	-	-	-	-	0.00	0.00	-11	0.00
Sale of Property, Plant & Equipment	5.20	-	-	-	-	0.00	0.00	1.20	12	2.30
Divestitures	-	-	-	-	-	-	0.00	0.00	-13	0.00
Sale and/or Maturity of Investments	-	-	-	-	-	-	0.00	0.00	5.00	0.00
Other Investing Activities, net	-5.00	-5.20	-10	5.10	-10	1.00	-3.70	-12	9.10	-7.40
Net Cash From Financing Activities	-111	-75	-199	-59	-354	-149	-253	-258	-287	-251
Net Cash From Continuing Financing Activities	-111	-75	-199	-59	-354	-149	-253	-258	-287	-251
Repayment of Debt	-71	-696	-961	-601	-332	-103	-709	-104	-1,970	-123
Repurchase of Common Equity	-2.00	-3.90	-8.60	0.00	0.00	-11	-176	-252	-176	-119
Payment of Dividends	-39	-25	-35	-29	-19	-27	-29	-18	-13	-6.50
Issuance of Debt	0.10	648	5.70	569	-6.40	-13	645	100	1,862	8.70
Issuance of Common Equity	1.10	0.60	800	1.80	3.10	4.60	16	19	15	10
Other Financing Activities, net	-	-	-	-	-	-	-	-3.30	-4.70	-21
Other Net Changes in Cash	-9.40	20	-	0.40	9.80	-11	-	-	-28	22
Cash Interest Paid	199	198	158	151	136	121	119	155	133	121
Cash Income Taxes Paid	42	85	114	109	60	83	118	111	122	112

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024	3/29/2025	6/28/2025	9/27/2025	12/31/2025	3/28/2026
Net Change in Cash & Equivalents	-8.10	164	-198	57	-5.40	107	-42	80	-31	123	-27
Net Cash From Operating Activities	108	189	-21	94	116	191	7.30	103	98	270	30
Net Cash From Continuing Operating Activities	108	189	-21	94	116	191	7.30	103	98	270	30
Net Income / (Loss) Continuing Operations	86	69	46	78	55	41	68	63	89	56	66
Consolidated Net Income / (Loss)	86	69	46	78	55	41	68	63	89	56	66
Depreciation Expense	54	55	55	55	54	54	52	53	54	55	56
Non-Cash Adjustments To Reconcile Net Income	15	-54	-4.70	-4.80	2.50	-12	-4.50	4.00	-9.10	-2.00	-2.80
Changes in Operating Assets and Liabilities, net	-47	119	-117	-34	4.60	108	-109	-17	-35	161	-89
Net Cash From Investing Activities	-17	-24	-20	-21	-40	-24	-31	-31	-25	-32	-27
Net Cash From Continuing Investing Activities	-17	-24	-20	-21	-40	-24	-31	-31	-25	-32	-27
Purchase of Property, Plant & Equipment	-15	-22	-16	-22	-22	-23	-18	-19	-18	-19	-17
Acquisitions	-2.20	-2.60	-2.10	-5.30	-6.10	-10	-8.70	-10	-7.30	-15	-4.80
Sale of Property, Plant & Equipment	0.40	0.40	0.00	11	0.50	1.00	2.00	0.10	0.10	0.10	1.30
Other Investing Activities, net	0.10	-	-1.40	7.30	-0.10	3.30	-6.80	-1.70	-0.20	1.30	-7.00
Net Cash From Financing Activities	-81	-17	-149	-8.70	-96	-33	-25	-8.80	-102	-116	-25
Net Cash From Continuing Financing Activities	-81	-17	-149	-8.70	-96	-33	-25	-8.80	-102	-116	-25
Repayment of Debt	-82	-0.10	-105	-1,820	-1.00	-27	-4.70	-	-100	-18	0.00
Repurchase of Common Equity	-	-	-50	-	-126	-	-13	-	-	-106	-17
Payment of Dividends	-	-18	0.00	-	-	-11	-2.30	-1.20	-3.00	-	0.00
Issuance of Debt	-	-	6.20	1,807	30	-	5.10	-5.10	-	8.70	-0.40
Issuance of Common Equity	0.80	1.20	2.50	4.60	2.90	4.90	1.80	2.90	5.10	0.60	0.50
Other Financing Activities, net	-	-	-2.40	-	-	-	-12	-5.40	-3.20	-0.90	-8.60
Other Net Changes in Cash	-	-	-8.90	-7.30	-	-	6.60	-	-	-	-4.70
Cash Interest Paid	49	29	46	41	19	28	37	20	39	25	32
Cash Income Taxes Paid	23	40	37	25	27	34	20	35	30	27	14

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

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/30/2017	12/29/2018	12/28/2019	1/2/2021	1/1/2022	12/31/2022	12/30/2023	12/28/2024	12/31/2025
Total Assets	6,854	6,723	7,411	7,426	7,533	7,192	7,255	6,786	7,151
Total Current Assets	1,826	1,815	1,959	1,907	2,279	2,277	2,401	2,306	2,482
Cash & Equivalents	564	423	635	521	658	578	721	682	812
Accounts Receivable	714	742	695	695	708	809	768	723	744
Inventories, net	457	538	475	508	683	656	647	676	700
Prepaid Expenses	77	104	131	153	211	221	235	197	182
Current Deferred & Refundable Income Taxes	14	7.20	22	29	19	13	30	29	43
Plant, Property, & Equipment, net	686	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	4,341	4,908	5,453	5,520	5,254	4,914	4,853	4,480	4,670
Goodwill	2,086	2,046	2,061	2,120	2,063	1,981	2,039	1,909	2,035
Intangible Assets	2,127	1,991	1,876	1,789	1,642	1,490	1,386	1,249	1,192
Noncurrent Deferred & Refundable Income Taxes	33	33	610	699	655	615	641	574	645
Employee Benefit Assets	58	53	38	69	76	10	8.60	5.70	7.60
Other Noncurrent Operating Assets	39	786	868	843	819	817	779	743	789
Total Liabilities & Shareholders' Equity	6,854	6,723	7,411	7,426	7,533	7,192	7,255	6,786	7,151
Total Liabilities	5,425	4,389	4,401	4,241	4,052	3,748	3,711	3,446	3,462
Total Current Liabilities	698	679	658	726	856	752	779	722	735
Short-Term Debt	66	52	46	43	38	37	37	39	36
Accounts Payable	392	424	375	417	507	470	458	408	434
Accrued Expenses	210	184	189	252	277	223	249	251	239
Current Deferred & Payable Income Tax Liabilities	29	19	49	14	34	24	37	23	27
Total Noncurrent Liabilities	4,728	3,710	3,743	3,515	3,196	2,996	2,931	2,725	2,727
Long-Term Debt	3,889	2,953	2,912	2,666	2,527	2,426	2,415	2,312	2,196
Noncurrent Deferred & Payable Income Tax Liabilities	517	521	478	472	387	272	199	139	111
Noncurrent Employee Benefit Liabilities	157	156	151	143	106	76	84	78	69
Other Noncurrent Operating Liabilities	63	79	201	235	176	222	234	196	350
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,428	2,334	3,011	3,185	3,481	3,444	3,544	3,340	3,689
Total Preferred & Common Equity	1,015	1,947	2,651	2,806	3,100	3,110	3,220	3,024	3,334
Total Common Equity	1,015	1,947	2,651	2,806	3,100	3,110	3,220	3,024	3,334
Common Stock	1,625	2,420	2,437	2,460	2,487	2,545	2,586	2,621	2,636
Retained Earnings	137	382	1,072	1,151	1,438	1,483	1,462	1,480	1,653
Treasury Stock	-	-	-	-	-	-	-	0.00	-38
Accumulated Other Comprehensive Income / (Loss)	-747	-854	-858	-805	-825	-918	-829	-1,077	-917
Noncontrolling Interest	414	386	360	379	382	334	324	317	355

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

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	10/1/2022	4/1/2023	7/1/2023	9/30/2023	3/30/2024	6/29/2024	9/28/2024	3/29/2025	6/28/2025	9/27/2025	3/28/2026
Total Assets	7,039	7,282	7,277	7,109	7,046	7,035	7,122	6,886	7,218	7,150	7,115
Total Current Assets	2,217	2,357	2,374	2,318	2,287	2,377	2,401	2,368	2,522	2,485	2,489
Cash & Equivalents	395	595	565	557	522	580	574	640	720	689	785
Accounts Receivable	805	840	875	822	798	808	812	786	826	833	800
Inventories, net	687	659	644	646	677	697	725	701	729	718	686
Prepaid Expenses	267	236	250	243	246	238	227	206	207	198	181
Current Deferred & Refundable Income Taxes	63	26	40	50	44	55	63	35	40	46	38
Plant, Property, & Equipment, net	0.00	640	0.00	0.00	619	0.00	0.00	584	0.00	0.00	600
Total Noncurrent Assets	4,822	4,286	4,903	4,791	4,140	4,658	4,721	3,934	4,696	4,665	4,026
Goodwill	1,905	2,015	2,018	1,984	2,013	1,967	1,997	1,934	2,022	2,020	2,021
Intangible Assets	1,492	1,470	1,439	1,400	1,347	1,309	1,295	1,233	1,233	1,207	1,159
Noncurrent Deferred & Refundable Income Taxes	546	622	634	623	626	626	662	591	649	644	637
Employee Benefit Assets	64	9.80	10	9.80	8.40	8.30	8.40	5.70	5.70	5.60	7.60
Other Noncurrent Operating Assets	815	168	802	775	146	748	759	171	787	789	202
Total Liabilities & Shareholders' Equity	7,039	7,282	7,277	7,109	7,046	7,035	7,122	6,886	7,218	7,150	7,115
Total Liabilities	3,795	3,729	3,886	3,697	3,551	3,541	3,664	3,458	3,606	3,435	3,387
Total Current Liabilities	747	738	798	780	748	763	796	710	729	705	679
Short-Term Debt	28	28	37	28	28	22	36	32	40	31	31
Accounts Payable	453	452	471	441	451	441	428	417	411	385	397
Accrued Expenses	217	229	238	243	224	239	265	223	251	263	232
Current Deferred & Payable Income Tax Liabilities	48	29	53	68	45	61	67	39	27	27	19
Total Noncurrent Liabilities	3,049	2,991	3,088	2,917	2,803	2,777	2,868	2,748	2,877	2,729	2,709
Long-Term Debt	2,467	2,423	2,521	2,418	2,313	2,310	2,342	2,308	2,305	2,204	2,198
Noncurrent Deferred & Payable Income Tax Liabilities	316	262	254	231	198	182	179	133	137	118	107
Noncurrent Employee Benefit Liabilities	91	75	74	72	82	79	78	76	77	68	63
Other Noncurrent Operating Liabilities	174	230	239	196	210	206	270	231	358	339	341
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,244	3,554	3,391	3,412	3,495	3,494	3,458	3,428	3,612	3,715	3,728
Total Preferred & Common Equity	2,936	3,215	3,070	3,091	3,179	3,177	3,110	3,102	3,269	3,370	3,367
Total Common Equity	2,936	3,215	3,070	3,091	3,179	3,177	3,110	3,102	3,269	3,370	3,367
Common Stock	2,536	2,563	2,576	2,578	2,593	2,604	2,609	2,619	2,624	2,631	2,634
Retained Earnings	1,398	1,509	1,321	1,399	1,452	1,523	1,570	1,542	1,585	1,667	1,675
Treasury Stock	-	-	-	-	-	-	-127	-	-	-	-17
Accumulated Other Comprehensive Income / (Loss)	-998	-857	-826	-886	-866	-949	-942	-1,046	-940	-928	-925
Noncontrolling Interest	308	339	321	321	317	317	348	326	343	345	361

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

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2016	12/30/2017	12/29/2018	12/28/2019	1/2/2021	1/1/2022	12/31/2022	12/30/2023	12/28/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	10.73%	10.06%	-7.78%	-9.53%	24.40%	2.30%	0.45%	-4.54%	1.03%
EBITDA Growth	0.00%	1.13%	25.45%	-17.07%	-23.31%	59.00%	-12.95%	8.40%	7.12%	-4.70%
EBIT Growth	0.00%	11.25%	39.32%	-25.62%	-36.82%	114.47%	-17.80%	12.92%	10.70%	-6.12%
NOPAT Growth	0.00%	183.71%	-33.59%	172.49%	-77.85%	70.82%	-21.11%	15.18%	-22.77%	19.39%
Net Income Growth	0.00%	116.73%	48.39%	156.03%	-87.03%	268.11%	-26.80%	5.73%	-14.24%	25.65%
EPS Growth	0.00%	160.87%	40.00%	182.14%	-88.61%	270.37%	-23.00%	9.09%	-11.90%	29.73%
Operating Cash Flow Growth	0.00%	-15.08%	-2.00%	11.29%	-11.44%	23.75%	-30.49%	80.96%	-21.08%	25.95%
Free Cash Flow Firm Growth	0.00%	0.00%	108.41%	127.23%	-71.01%	92.68%	-4.90%	11.56%	25.01%	-52.29%
Invested Capital Growth	0.00%	0.00%	1.98%	8.51%	0.72%	0.29%	-1.11%	-1.00%	-5.04%	2.01%
Revenue Q/Q Growth	0.00%	0.00%	0.31%	-2.11%	2.51%	0.62%	2.24%	-0.83%	-0.98%	0.78%
EBITDA Q/Q Growth	0.00%	0.00%	6.29%	-7.91%	4.64%	-2.14%	8.38%	-1.80%	1.57%	-2.48%
EBIT Q/Q Growth	0.00%	0.00%	9.13%	-12.15%	9.26%	-3.05%	14.27%	-3.05%	2.46%	-3.70%
NOPAT Q/Q Growth	0.00%	0.00%	-27.46%	3.26%	-10.70%	11.97%	-3.26%	0.96%	-17.01%	10.13%
Net Income Q/Q Growth	0.00%	0.00%	-14.96%	-7.60%	8.56%	13.19%	8.50%	-7.57%	-11.29%	5.82%
EPS Q/Q Growth	0.00%	0.00%	-20.00%	-6.32%	-3.57%	13.64%	13.24%	-7.69%	-9.76%	4.35%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.38%	10.27%	-6.70%	-3.19%	41.61%	-10.71%	0.42%	19.76%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	2.67%	-50.74%	86.26%	-9.02%	3.24%	37.48%	-19.30%
Invested Capital Q/Q Growth	0.00%	0.00%	-2.21%	-1.72%	2.12%	-0.83%	-0.29%	-0.49%	-4.80%	-2.87%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	38.62%	40.04%	39.75%	37.01%	37.05%	38.54%	35.19%	38.06%	39.86%	39.84%
EBITDA Margin	20.03%	18.29%	20.85%	18.75%	15.89%	20.31%	17.29%	18.65%	20.93%	19.75%
Operating Margin	11.11%	13.25%	14.84%	11.23%	7.56%	13.93%	10.80%	12.96%	14.05%	13.51%
EBIT Margin	11.26%	11.31%	14.32%	11.55%	8.07%	13.91%	11.18%	12.56%	14.57%	13.54%
Profit (Net Income) Margin	3.07%	6.01%	8.10%	22.48%	3.22%	9.54%	6.82%	7.18%	6.45%	8.02%
Tax Burden Percent	90.65%	166.85%	89.32%	349.14%	126.76%	94.74%	94.07%	89.87%	67.04%	81.22%
Interest Burden Percent	30.07%	31.82%	63.31%	55.75%	31.51%	72.37%	64.90%	63.61%	66.06%	72.99%
Effective Tax Rate	22.69%	-66.21%	10.48%	-249.45%	-27.18%	5.26%	5.78%	9.92%	32.77%	18.55%
Return on Invested Capital (ROIC)	0.00%	27.79%	9.14%	23.65%	5.02%	8.52%	6.75%	7.86%	6.26%	7.49%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-0.93%	3.32%	2.53%	-2.90%	2.30%	0.46%	-1.01%	0.26%	0.84%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-2.21%	5.28%	2.33%	-2.11%	1.41%	0.25%	-0.52%	0.13%	0.37%
Return on Equity (ROE)	0.00%	25.58%	14.41%	25.97%	2.91%	9.94%	7.00%	7.34%	6.39%	7.86%
Cash Return on Invested Capital (CROIC)	0.00%	-172.21%	7.17%	15.48%	4.30%	8.24%	7.87%	8.87%	11.43%	5.50%
Operating Return on Assets (OROA)	0.00%	5.02%	7.06%	5.05%	3.04%	6.46%	5.40%	6.21%	7.07%	6.69%
Return on Assets (ROA)	0.00%	2.67%	3.99%	9.82%	1.21%	4.43%	3.29%	3.55%	3.13%	3.96%
Return on Common Equity (ROCE)	0.00%	18.17%	11.35%	22.35%	2.56%	8.80%	6.28%	6.65%	5.79%	7.11%
Return on Equity Simple (ROE_SIMPLE)	0.00%	18.01%	13.92%	26.18%	3.21%	10.69%	7.80%	7.96%	7.27%	0.00%
Net Operating Profit after Tax (NOPAT)	236	670	445	1,212	268	459	362	417	322	379
NOPAT Margin	8.59%	22.02%	13.29%	39.26%	9.61%	13.20%	10.18%	11.67%	9.44%	11.01%
Net Nonoperating Expense Percent (NNEP)	0.00%	28.72%	5.81%	21.11%	7.91%	6.22%	6.29%	8.87%	6.00%	6.65%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	6.13%	6.95%	5.65%	6.40%
Cost of Revenue to Revenue	61.38%	59.96%	60.25%	62.99%	62.95%	61.46%	64.81%	61.94%	60.14%	60.16%
SG&A Expenses to Revenue	26.85%	25.55%	24.07%	25.18%	27.82%	24.54%	24.02%	24.71%	25.53%	25.44%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	27.50%	26.80%	24.91%	25.78%	29.49%	24.61%	24.38%	25.11%	25.81%	26.32%
Earnings before Interest and Taxes (EBIT)	309	344	479	357	225	483	397	449	497	466
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	550	556	698	579	444	706	614	666	713	680
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.72	1.96	1.50	1.32	1.50	1.04	1.10	1.74	1.66
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	52.12
Price to Revenue (P/Rev)	0.27	0.24	1.14	1.29	1.33	1.34	0.91	0.99	1.54	1.61
Price to Earnings (P/E)	12.68	4.83	15.57	5.76	46.73	15.63	14.60	15.22	27.01	22.06
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	7.89%	20.68%	6.42%	17.35%	2.14%	6.40%	6.85%	6.57%	3.70%	4.53%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.94	1.38	1.25	1.17	1.29	1.02	1.06	1.45	1.43
Enterprise Value to Revenue (EV/Rev)	0.00	1.49	2.03	2.16	2.25	2.00	1.53	1.57	2.13	2.13
Enterprise Value to EBITDA (EV/EBITDA)	0.00	8.16	9.73	11.51	14.14	9.82	8.86	8.41	10.16	10.77
Enterprise Value to EBIT (EV/EBIT)	0.00	13.18	14.16	18.68	27.86	14.35	13.70	12.48	14.60	15.71
Enterprise Value to NOPAT (EV/NOPAT)	0.00	6.77	15.26	5.50	23.38	15.12	15.04	13.44	22.53	19.32
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	14.18	21.65	19.09	20.31	18.13	20.47	11.64	19.10	15.31
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	19.44	8.39	27.29	15.65	12.91	11.91	12.34	26.31
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	2.77	1.29	0.98	0.85	0.74	0.72	0.69	0.70	0.61
Long-Term Debt to Equity	0.00	2.72	1.27	0.97	0.84	0.73	0.70	0.68	0.69	0.60
Financial Leverage	0.00	2.37	1.59	0.92	0.73	0.61	0.55	0.52	0.49	0.44
Leverage Ratio	0.00	4.80	3.61	2.64	2.39	2.24	2.13	2.07	2.04	1.98
Compound Leverage Factor	0.00	1.53	2.28	1.47	0.75	1.62	1.38	1.32	1.35	1.45
Debt to Total Capital	0.00%	73.47%	56.29%	49.56%	45.96%	42.42%	41.70%	40.89%	41.30%	37.70%
Short-Term Debt to Total Capital	0.00%	1.23%	0.97%	0.77%	0.72%	0.63%	0.62%	0.61%	0.69%	0.61%
Long-Term Debt to Total Capital	0.00%	72.24%	55.32%	48.79%	45.23%	41.79%	41.08%	40.28%	40.62%	37.09%
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%
Noncontrolling Interests to Total Capital	0.00%	7.69%	7.24%	6.03%	6.44%	6.31%	5.65%	5.40%	5.57%	6.00%
Common Equity to Total Capital	0.00%	18.84%	36.48%	44.41%	47.61%	51.27%	52.65%	53.71%	53.13%	56.30%
Debt to EBITDA	0.00	7.11	4.31	5.11	6.10	3.63	4.01	3.68	3.29	3.28
Net Debt to EBITDA	0.00	6.10	3.70	4.01	4.93	2.70	3.07	2.60	2.34	2.09
Long-Term Debt to EBITDA	0.00	6.99	4.23	5.03	6.01	3.58	3.95	3.63	3.24	3.23
Debt to NOPAT	0.00	5.91	6.76	2.44	10.09	5.59	6.81	5.88	7.30	5.89
Net Debt to NOPAT	0.00	5.06	5.80	1.92	8.15	4.16	5.21	4.15	5.19	3.75
Long-Term Debt to NOPAT	0.00	5.81	6.64	2.40	9.93	5.51	6.71	5.80	7.18	5.80
Altman Z-Score	0.00	0.92	1.54	1.53	1.41	1.85	1.74	1.82	2.25	2.27
Noncontrolling Interest Sharing Ratio	0.00%	28.97%	21.27%	13.96%	11.93%	11.42%	10.33%	9.41%	9.30%	9.56%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	2.62	2.67	2.98	2.63	2.66	3.03	3.08	3.20	3.37
Quick Ratio	0.00	1.83	1.72	2.02	1.67	1.60	1.84	1.91	1.95	2.12
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-4,150	349	793	230	443	421	470	588	278
Operating Cash Flow to CapEx	700.19%	316.42%	188.74%	483.91%	530.93%	492.15%	342.53%	801.67%	533.90%	674.33%
Free Cash Flow to Firm to Interest Expense	0.00	-17.69	1.98	5.03	1.49	3.32	3.02	2.88	3.77	2.21
Operating Cash Flow to Interest Expense	1.74	1.36	1.78	2.21	2.00	2.86	1.91	2.95	2.44	3.80
Operating Cash Flow Less CapEx to Interest Expense	1.49	0.93	0.84	1.75	1.63	2.28	1.35	2.58	1.98	3.23
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.44	0.49	0.44	0.38	0.46	0.48	0.49	0.49	0.49
Accounts Receivable Turnover	0.00	4.26	4.60	4.30	4.02	4.95	4.69	4.53	4.57	4.69
Inventory Turnover	0.00	3.99	4.06	3.84	3.58	3.59	3.44	3.39	3.10	3.01
Fixed Asset Turnover	0.00	4.43	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	4.65	4.94	4.87	4.44	4.62	4.72	4.77	4.73	4.92
Days Sales Outstanding (DSO)	0.00	85.66	79.38	84.95	90.81	73.70	77.88	80.60	79.83	77.75
Days Inventory Outstanding (DIO)	0.00	91.49	90.00	95.04	102.06	101.78	106.06	107.57	117.81	121.23
Days Payable Outstanding (DPO)	0.00	78.46	73.83	74.96	82.21	78.98	77.34	76.53	77.10	74.17
Cash Conversion Cycle (CCC)	0.00	98.68	95.55	105.03	110.65	96.50	106.61	111.64	120.55	124.80
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	4,820	4,915	5,334	5,372	5,388	5,328	5,275	5,009	5,110
Invested Capital Turnover	0.00	1.26	0.69	0.60	0.52	0.65	0.66	0.67	0.66	0.68
Increase / (Decrease) in Invested Capital	0.00	4,820	96	419	39	16	-60	-53	-266	101
Enterprise Value (EV)	0.00	4,537	6,788	6,660	6,277	6,933	5,441	5,599	7,250	7,321
Market Capitalization	732	732	3,820	3,978	3,710	4,645	3,223	3,544	5,265	5,545
Book Value per Share	$0.00	$4.13	$6.72	$9.14	$9.65	$10.62	$11.01	$12.19	$11.87	$12.91
Tangible Book Value per Share	$0.00	($13.02)	($7.21)	($4.43)	($3.79)	($2.07)	($1.28)	($0.77)	($0.53)	$0.41
Total Capital	0.00	5,384	5,339	5,969	5,894	6,046	5,907	5,995	5,691	5,922
Total Debt	0.00	3,956	3,005	2,958	2,709	2,565	2,463	2,452	2,351	2,233
Total Long-Term Debt	0.00	3,889	2,953	2,912	2,666	2,527	2,426	2,415	2,312	2,196
Net Debt	0.00	3,391	2,582	2,323	2,187	1,906	1,885	1,731	1,669	1,420
Capital Expenditures (CapEx)	54	101	166	72	58	78	78	60	71	71
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	630	764	711	702	803	983	938	942	970
Debt-free Net Working Capital (DFNWC)	0.00	1,195	1,187	1,347	1,223	1,461	1,562	1,659	1,624	1,782
Net Working Capital (NWC)	0.00	1,128	1,136	1,301	1,180	1,423	1,525	1,622	1,585	1,746
Net Nonoperating Expense (NNE)	152	487	174	518	178	127	119	160	102	103
Net Nonoperating Obligations (NNO)	0.00	3,391	2,582	2,323	2,187	1,906	1,885	1,731	1,669	1,420
Total Depreciation and Amortization (D&A)	241	212	219	222	219	223	217	218	217	214
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	20.73%	22.82%	23.04%	25.12%	23.10%	27.67%	26.27%	27.63%	28.18%
Debt-free Net Working Capital to Revenue	0.00%	39.28%	35.46%	43.62%	43.79%	42.05%	43.94%	46.45%	47.64%	51.76%
Net Working Capital to Revenue	0.00%	37.10%	33.92%	42.13%	42.26%	40.95%	42.91%	45.43%	46.49%	50.71%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.23	$0.62	$0.86	$2.38	$0.27	$1.02	$0.78	$0.86	$0.75	$0.98
Adjusted Weighted Average Basic Shares Outstanding	0.00	245.52M	289.89M	290.47M	290.85M	291.35M	282.60M	264.27M	255.41M	253.86M
Adjusted Diluted Earnings per Share	$0.23	$0.60	$0.84	$2.37	$0.27	$1.00	$0.77	$0.84	$0.74	$0.96
Adjusted Weighted Average Diluted Shares Outstanding	0.00	245.52M	289.89M	290.47M	290.85M	291.35M	282.60M	264.27M	255.41M	253.86M
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
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	245.52M	289.89M	290.47M	290.85M	291.35M	282.60M	264.27M	255.41M	253.86M
Normalized Net Operating Profit after Tax (NOPAT)	248	309	457	249	181	470	374	429	328	404
Normalized NOPAT Margin	9.01%	10.15%	13.65%	8.07%	6.49%	13.52%	10.52%	12.02%	9.64%	11.72%
Pre Tax Income Margin	3.39%	3.60%	9.07%	6.44%	2.54%	10.07%	7.25%	7.99%	9.62%	9.88%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.43	1.47	2.73	2.26	1.46	3.62	2.85	2.75	3.19	3.70
NOPAT to Interest Expense	1.09	2.85	2.53	7.68	1.74	3.44	2.60	2.55	2.07	3.01
EBIT Less CapEx to Interest Expense	1.18	1.04	1.78	1.80	1.08	3.04	2.29	2.38	2.73	3.14
NOPAT Less CapEx to Interest Expense	0.84	2.42	1.58	7.22	1.36	2.85	2.04	2.19	1.61	2.45
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	46.14%	13.46%	12.98%	4.15%	21.11%	8.03%	11.84%	7.10%	5.91%	2.35%
Augmented Payout Ratio	48.52%	15.60%	16.16%	4.15%	21.11%	11.23%	84.37%	105.27%	85.99%	45.53%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024	3/29/2025	6/28/2025	9/27/2025	12/31/2025	3/28/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	253,855,699.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	253,855,699.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.24
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	1.42%	-3.36%	-3.91%	-5.43%	-4.83%	-3.93%	-1.74%	-0.20%	3.01%	3.23%	0.41%
EBITDA Growth	17.02%	-6.88%	22.12%	8.03%	-5.16%	6.67%	1.62%	-16.25%	7.32%	-9.83%	-6.89%
EBIT Growth	25.22%	-11.36%	35.86%	11.08%	-7.14%	10.82%	4.40%	-21.75%	10.76%	-14.68%	-12.64%
NOPAT Growth	44.30%	8.74%	14.42%	3.38%	-27.44%	-54.61%	36.51%	-20.48%	16.79%	73.44%	1.82%
Net Income Growth	52.68%	-23.31%	50.65%	8.99%	-35.56%	-40.52%	48.16%	-18.69%	60.80%	36.98%	-3.07%
EPS Growth	61.11%	-23.33%	66.67%	13.04%	-37.93%	-34.78%	60.00%	-15.38%	72.22%	26.67%	-4.17%
Operating Cash Flow Growth	7.16%	-23.36%	-140.00%	-28.61%	7.51%	0.85%	134.76%	9.81%	-15.44%	41.33%	313.70%
Free Cash Flow Firm Growth	-4.79%	1.89%	-26.45%	19.76%	-22.18%	87.82%	71.28%	-59.66%	-17.77%	-104.52%	-82.04%
Invested Capital Growth	-0.80%	-1.00%	-1.77%	-2.54%	-0.75%	-5.04%	-3.52%	-0.19%	-0.01%	2.01%	0.85%
Revenue Q/Q Growth	-6.77%	-1.10%	-0.08%	2.65%	-6.19%	-0.16%	2.19%	4.26%	-3.17%	0.06%	-0.60%
EBITDA Q/Q Growth	0.39%	-8.38%	4.73%	12.15%	-11.87%	3.04%	-0.23%	-7.57%	12.94%	-13.42%	3.02%
EBIT Q/Q Growth	0.56%	-12.77%	7.45%	17.85%	-15.94%	4.10%	1.23%	-11.67%	18.99%	-19.82%	3.65%
NOPAT Q/Q Growth	9.37%	-6.57%	-42.54%	76.06%	-23.23%	-41.55%	72.80%	0.38%	17.95%	-19.97%	8.40%
Net Income Q/Q Growth	20.08%	-19.18%	-33.29%	68.33%	-28.99%	-25.41%	66.18%	-7.61%	40.41%	-36.46%	17.58%
EPS Q/Q Growth	26.09%	-20.69%	-34.78%	73.33%	-30.77%	-16.67%	60.00%	-8.33%	40.91%	-38.71%	21.05%
Operating Cash Flow Q/Q Growth	-17.96%	75.60%	-111.09%	546.67%	23.56%	64.71%	-96.18%	1,310.96%	-4.85%	175.31%	-88.81%
Free Cash Flow Firm Q/Q Growth	-21.31%	1.57%	-4.34%	56.63%	-48.87%	145.14%	-12.76%	-63.47%	7.02%	-113.14%	450.59%
Invested Capital Q/Q Growth	-1.53%	-0.49%	0.75%	-1.27%	0.28%	-4.80%	2.37%	2.13%	0.45%	-2.87%	1.20%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	39.34%	39.12%	38.26%	40.36%	40.42%	40.43%	40.66%	40.76%	39.92%	37.99%	39.71%
EBITDA Margin	20.63%	19.11%	20.03%	21.89%	20.56%	21.22%	20.72%	18.37%	21.42%	18.54%	19.21%
Operating Margin	14.42%	13.93%	13.53%	15.38%	13.63%	13.58%	14.71%	13.10%	13.49%	12.78%	12.91%
EBIT Margin	14.45%	12.74%	13.70%	15.73%	14.10%	14.70%	14.56%	12.33%	15.16%	12.15%	12.67%
Profit (Net Income) Margin	9.79%	8.00%	5.34%	8.76%	6.63%	4.96%	8.06%	7.14%	10.35%	6.58%	7.78%
Tax Burden Percent	98.73%	96.51%	57.13%	86.03%	79.62%	46.76%	72.81%	78.68%	93.46%	78.85%	84.98%
Interest Burden Percent	68.68%	65.09%	68.27%	64.75%	59.09%	72.11%	76.01%	73.58%	73.09%	68.65%	72.26%
Effective Tax Rate	1.15%	3.35%	42.75%	13.64%	20.23%	53.13%	26.87%	20.95%	6.43%	21.01%	14.76%
Return on Invested Capital (ROIC)	9.64%	9.07%	5.11%	8.71%	7.09%	4.22%	6.99%	6.70%	8.19%	6.87%	7.37%
ROIC Less NNEP Spread (ROIC-NNEP)	7.69%	6.46%	3.98%	6.57%	5.18%	3.53%	5.69%	5.02%	7.04%	4.92%	5.62%
Return on Net Nonoperating Assets (RNNOA)	4.61%	3.34%	2.07%	3.57%	2.78%	1.74%	2.89%	2.39%	3.29%	2.16%	2.47%
Return on Equity (ROE)	14.25%	12.41%	7.18%	12.28%	9.87%	5.96%	9.89%	9.09%	11.48%	9.03%	9.84%
Cash Return on Invested Capital (CROIC)	8.56%	8.87%	9.59%	10.53%	8.09%	11.43%	10.22%	6.37%	6.55%	5.50%	6.55%
Operating Return on Assets (OROA)	7.35%	6.30%	6.76%	7.66%	6.82%	7.14%	7.09%	5.87%	7.26%	6.00%	6.24%
Return on Assets (ROA)	4.99%	3.96%	2.64%	4.27%	3.21%	2.41%	3.93%	3.40%	4.96%	3.25%	3.83%
Return on Common Equity (ROCE)	12.91%	11.24%	6.51%	11.14%	8.91%	5.41%	8.97%	8.24%	10.37%	8.17%	8.89%
Return on Equity Simple (ROE_SIMPLE)	8.97%	0.00%	8.55%	8.76%	7.97%	0.00%	7.80%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	124	116	67	118	90	53	91	92	108	86	94
NOPAT Margin	14.26%	13.47%	7.75%	13.28%	10.87%	6.36%	10.76%	10.36%	12.62%	10.09%	11.01%
Net Nonoperating Expense Percent (NNEP)	1.95%	2.61%	1.13%	2.14%	1.91%	0.69%	1.30%	1.68%	1.16%	1.95%	1.75%
Return On Investment Capital (ROIC_SIMPLE)	-	1.94%	-	-	-	0.93%	1.58%	1.54%	1.81%	1.46%	1.57%
Cost of Revenue to Revenue	60.66%	60.88%	61.74%	59.64%	59.58%	59.57%	59.34%	59.24%	60.08%	62.01%	60.29%
SG&A Expenses to Revenue	24.45%	25.02%	24.54%	24.65%	26.47%	26.54%	25.64%	26.16%	25.62%	24.34%	26.66%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	24.92%	25.18%	24.73%	24.98%	26.80%	26.85%	25.94%	27.66%	26.43%	25.22%	26.80%
Earnings before Interest and Taxes (EBIT)	126	110	118	139	117	122	123	109	130	104	108
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	180	165	173	194	171	176	176	162	183	159	164
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.99	1.10	1.47	1.30	1.50	1.74	1.52	1.82	1.90	1.66	1.67
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	425.87	44.79	52.12	29.92
Price to Revenue (P/Rev)	0.85	0.99	1.32	1.19	1.36	1.54	1.39	1.76	1.88	1.61	1.63
Price to Earnings (P/E)	12.03	15.22	18.98	16.38	21.10	27.01	21.69	29.41	27.10	22.06	22.53
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	8.31%	6.57%	5.27%	6.11%	4.74%	3.70%	4.61%	3.40%	3.69%	4.53%	4.44%
Enterprise Value to Invested Capital (EV/IC)	1.00	1.06	1.28	1.18	1.30	1.45	1.31	1.51	1.58	1.43	1.43
Enterprise Value to Revenue (EV/Rev)	1.47	1.57	1.93	1.78	1.98	2.13	1.98	2.34	2.43	2.13	2.15
Enterprise Value to EBITDA (EV/EBITDA)	7.78	8.41	9.77	8.71	9.71	10.16	9.40	11.58	11.91	10.77	11.11
Enterprise Value to EBIT (EV/EBIT)	11.40	12.48	14.20	12.57	14.07	14.60	13.41	16.82	17.16	15.71	16.46
Enterprise Value to NOPAT (EV/NOPAT)	12.78	13.44	16.26	14.66	17.58	22.53	19.42	24.50	24.13	19.32	19.47
Enterprise Value to Operating Cash Flow (EV/OCF)	9.79	11.64	16.72	16.77	18.04	19.10	16.50	19.01	20.80	15.31	14.80
Enterprise Value to Free Cash Flow (EV/FCFF)	11.59	11.91	13.24	11.08	15.95	12.34	12.62	23.77	24.08	26.31	21.99
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.72	0.69	0.67	0.67	0.69	0.70	0.68	0.65	0.60	0.61	0.60
Long-Term Debt to Equity	0.71	0.68	0.66	0.66	0.68	0.69	0.67	0.64	0.59	0.60	0.59
Financial Leverage	0.60	0.52	0.52	0.54	0.54	0.49	0.51	0.48	0.47	0.44	0.44
Leverage Ratio	2.13	2.07	2.03	2.08	2.07	2.04	2.01	2.01	1.99	1.98	1.96
Compound Leverage Factor	1.46	1.35	1.39	1.35	1.22	1.47	1.53	1.48	1.45	1.36	1.41
Debt to Total Capital	41.75%	40.89%	40.11%	40.03%	40.74%	41.30%	40.57%	39.36%	37.56%	37.70%	37.41%
Short-Term Debt to Total Capital	0.47%	0.61%	0.48%	0.37%	0.62%	0.69%	0.55%	0.67%	0.51%	0.61%	0.52%
Long-Term Debt to Total Capital	41.27%	40.28%	39.63%	39.65%	40.12%	40.62%	40.02%	38.70%	37.05%	37.09%	36.90%
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	5.48%	5.40%	5.43%	5.45%	5.96%	5.57%	5.65%	5.75%	5.80%	6.00%	6.06%
Common Equity to Total Capital	52.77%	53.71%	54.46%	54.53%	53.30%	53.13%	53.79%	54.88%	56.64%	56.30%	56.53%
Debt to EBITDA	3.61	3.68	3.36	3.28	3.39	3.29	3.27	3.42	3.21	3.28	3.34
Net Debt to EBITDA	2.78	2.60	2.61	2.46	2.57	2.34	2.37	2.37	2.22	2.09	2.16
Long-Term Debt to EBITDA	3.56	3.63	3.32	3.25	3.33	3.24	3.22	3.37	3.16	3.23	3.29
Debt to NOPAT	5.92	5.88	5.59	5.51	6.13	7.30	6.75	7.24	6.49	5.89	5.85
Net Debt to NOPAT	4.58	4.15	4.34	4.14	4.65	5.19	4.90	5.02	4.49	3.75	3.79
Long-Term Debt to NOPAT	5.86	5.80	5.52	5.46	6.04	7.18	6.66	7.12	6.41	5.80	5.77
Altman Z-Score	1.60	1.67	1.90	1.84	1.88	2.06	1.97	2.12	2.28	2.11	2.16
Noncontrolling Interest Sharing Ratio	9.44%	9.41%	9.30%	9.26%	9.73%	9.30%	9.28%	9.29%	9.66%	9.56%	9.59%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.97	3.08	3.06	3.11	3.02	3.20	3.33	3.46	3.52	3.37	3.67
Quick Ratio	1.77	1.91	1.76	1.82	1.74	1.95	2.01	2.12	2.16	2.12	2.34
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	167	170	162	254	130	319	278	102	109	-14	50
Operating Cash Flow to CapEx	728.38%	892.92%	-131.25%	822.81%	541.59%	856.05%	47.10%	533.68%	563.22%	1,442.78%	196.10%
Free Cash Flow to Firm to Interest Expense	4.23	4.42	4.33	5.18	3.70	9.35	9.39	3.53	3.11	-0.44	1.67
Operating Cash Flow to Interest Expense	2.73	4.93	-0.56	1.91	3.30	5.60	0.25	3.58	2.81	8.28	1.01
Operating Cash Flow Less CapEx to Interest Expense	2.35	4.38	-0.99	1.68	2.69	4.94	-0.28	2.91	2.31	7.70	0.50
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.51	0.49	0.49	0.49	0.48	0.49	0.49	0.48	0.48	0.49	0.49
Accounts Receivable Turnover	4.42	4.53	4.32	4.14	4.21	4.57	4.28	4.15	4.15	4.69	4.35
Inventory Turnover	3.41	3.39	3.25	3.16	3.04	3.10	2.93	2.83	2.82	3.01	3.00
Fixed Asset Turnover	0.00	0.00	5.62	0.00	0.00	0.00	5.64	0.00	0.00	0.00	5.83
Accounts Payable Turnover	5.07	4.77	4.81	4.64	4.79	4.73	4.65	4.73	5.01	4.92	5.12
Days Sales Outstanding (DSO)	82.49	80.60	84.56	88.12	86.62	79.83	85.19	87.92	87.88	77.75	83.97
Days Inventory Outstanding (DIO)	107.19	107.57	112.32	115.66	120.20	117.81	124.48	129.08	129.40	121.23	121.55
Days Payable Outstanding (DPO)	71.93	76.53	75.94	78.67	76.17	77.10	78.45	77.20	72.90	74.17	71.36
Cash Conversion Cycle (CCC)	117.75	111.64	120.93	125.11	130.65	120.55	131.22	139.79	144.38	124.80	134.16
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,301	5,275	5,314	5,247	5,261	5,009	5,127	5,237	5,261	5,110	5,171
Invested Capital Turnover	0.68	0.67	0.66	0.66	0.65	0.66	0.65	0.65	0.65	0.68	0.67
Increase / (Decrease) in Invested Capital	-43	-53	-96	-137	-40	-266	-187	-10	-0.70	101	44
Enterprise Value (EV)	5,276	5,599	6,813	6,202	6,818	7,250	6,730	7,930	8,304	7,321	7,417
Market Capitalization	3,066	3,544	4,677	4,132	4,667	5,265	4,705	5,962	6,414	5,545	5,613
Book Value per Share	$11.71	$12.19	$12.16	$12.15	$11.89	$11.87	$12.15	$12.68	$13.08	$12.91	$13.26
Tangible Book Value per Share	($1.11)	($0.77)	($0.69)	($0.38)	($0.69)	($0.53)	($0.25)	$0.05	$0.56	$0.41	$0.74
Total Capital	5,858	5,995	5,836	5,826	5,836	5,691	5,768	5,956	5,950	5,922	5,956
Total Debt	2,445	2,452	2,341	2,332	2,378	2,351	2,340	2,345	2,235	2,233	2,229
Total Long-Term Debt	2,418	2,415	2,313	2,310	2,342	2,312	2,308	2,305	2,204	2,196	2,198
Net Debt	1,889	1,731	1,819	1,752	1,803	1,669	1,700	1,625	1,545	1,420	1,443
Capital Expenditures (CapEx)	15	21	16	11	21	22	16	19	17	19	15
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,008	938	1,045	1,055	1,067	942	1,049	1,112	1,121	970	1,057
Debt-free Net Working Capital (DFNWC)	1,565	1,659	1,567	1,635	1,641	1,624	1,689	1,832	1,810	1,782	1,842
Net Working Capital (NWC)	1,538	1,622	1,539	1,613	1,605	1,585	1,658	1,792	1,780	1,746	1,811
Net Nonoperating Expense (NNE)	39	47	21	40	35	12	23	28	19	30	27
Net Nonoperating Obligations (NNO)	1,889	1,731	1,819	1,752	1,803	1,669	1,700	1,625	1,545	1,420	1,443
Total Depreciation and Amortization (D&A)	54	55	55	55	54	54	52	53	54	55	56
Debt-free, Cash-free Net Working Capital to Revenue	28.01%	26.27%	29.56%	30.28%	30.99%	27.63%	30.91%	32.80%	32.80%	28.18%	30.65%
Debt-free Net Working Capital to Revenue	43.48%	46.45%	44.33%	46.92%	47.68%	47.64%	49.78%	54.02%	52.98%	51.76%	53.44%
Net Working Capital to Revenue	42.71%	45.43%	43.54%	46.30%	46.63%	46.49%	48.85%	52.85%	52.09%	50.71%	52.54%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.30	$0.23	$0.15	$0.27	$0.18	$0.15	$0.24	$0.22	$0.32	$0.20	$0.24
Adjusted Weighted Average Basic Shares Outstanding	264.11M	264.27M	261.38M	261.61M	254.72M	255.41M	257.77M	257.58M	258.28M	253.86M	253.88M
Adjusted Diluted Earnings per Share	$0.29	$0.23	$0.15	$0.26	$0.18	$0.15	$0.24	$0.22	$0.31	$0.19	$0.23
Adjusted Weighted Average Diluted Shares Outstanding	264.11M	264.27M	261.38M	261.61M	254.72M	255.41M	257.77M	257.58M	258.28M	253.86M	253.88M
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	264.11M	264.27M	261.38M	261.61M	254.72M	255.41M	257.77M	257.58M	258.28M	253.86M	253.88M
Normalized Net Operating Profit after Tax (NOPAT)	128	118	68	120	92	81	93	102	115	92	95
Normalized NOPAT Margin	14.71%	13.62%	7.85%	13.56%	11.13%	9.73%	10.98%	11.54%	13.38%	10.79%	11.13%
Pre Tax Income Margin	9.92%	8.29%	9.36%	10.19%	8.33%	10.60%	11.07%	9.08%	11.08%	8.34%	9.15%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.19	2.86	3.15	2.84	3.34	3.57	4.17	3.78	3.72	3.19	3.61
NOPAT to Interest Expense	3.15	3.03	1.78	2.40	2.57	1.55	3.08	3.18	3.09	2.65	3.13
EBIT Less CapEx to Interest Expense	2.82	2.31	2.73	2.60	2.73	2.92	3.65	3.11	3.22	2.62	3.09
NOPAT Less CapEx to Interest Expense	2.78	2.48	1.35	2.16	1.96	0.89	2.56	2.51	2.60	2.08	2.62
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.18%	7.10%	0.00%	0.00%	7.83%	5.91%	6.32%	7.25%	6.82%	2.35%	1.53%
Augmented Payout Ratio	90.95%	105.27%	111.07%	18.07%	78.86%	85.99%	63.65%	68.23%	11.80%	45.53%	46.35%

Financials Breakdown Chart

Key Financial Trends

Here’s a concise, investor-focused read on Gates Industrial (NYSE: GTES) using the last four years of quarterly financials. The latest data show a modest revenue uptick and stronger cash generation in Q4 2025, alongside some margin pressures and financing activity to watch.

Revenue growth: Q4 2025 Revenue was $856.2 million, up from $829.4 million in Q4 2024 (roughly +3.3% year over year).
Earnings per share and net income: Net income attributable to common shareholders rose to $51.3 million in Q4 2025, with Basic EPS $0.20 and Diluted EPS $0.19, up from Q4 2024 levels of about $36.6 million and $0.15 respectively.
Cash flow from operations: Net cash from continuing operating activities in Q4 2025 was $269.8 million, a notable increase from prior quarters (Q3 2025 ~$98.0 million; Q2 2025 ~$103.0 million), indicating stronger cash generation.
Liquidity: On the latest balance sheet snapshot (Q3 2025), total current assets were about $2.49 billion and total current liabilities about $0.71 billion, yielding a current ratio near 3.5x—suggesting solid short-term liquidity.
Balanced leverage: Long-term debt around $2.20 billion and total equity around $3.37 billion give a rough debt-to-equity ratio near 0.65x, indicating a manageable capital structure.
Interest expense improvement: Interest expense declined to about $32.6 million in Q4 2025 from roughly $38.4 million in Q4 2024, supporting operating margins.
Capex is moderate and steady: Quarterly purchases of property, plant & equipment run around $18–$20 million (Q4 2025 capex ≈ $18.8 million), suggesting ongoing maintenance and capacity updates without an outsized cash burden.
Debt mix stability: The company’s debt mix remains skewed toward long-term borrowings ( LT debt ≈ $2.2 billion on the latest available balance sheet), with equity supporting the balance sheet.
Margin compression: Gross margin declined to about 38.0% in Q4 2025 from about 40.4% in Q4 2024; operating margin also edged lower (about 12.8% vs roughly 13.6%), signaling pressure on profitability margins.
Financing cash outflows: Net cash from financing activities in Q4 2025 was about -$116.2 million, reflecting ongoing debt repayments and related financing actions that reduce cash despite stronger operating cash flow.

05/22/26 08:03 AM ETAI Generated. May Contain Errors.

Gates Industrial Financials - Frequently Asked Questions

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

Over the last 9 years, Gates Industrial's net income changed from $84.30 million in 2016 to $276.30 million in 2025, a change of 227.8%. View Gates Industrial's forecast to see where analysts expect Gates Industrial to go next.

Gates Industrial's total operating income in 2025 was $465.30 million, based on the following breakdown:

Total Gross Profit: $1.37 billion
Total Operating Expenses: $906.40 million

Over the last 9 years, Gates Industrial's total revenue changed from $2.75 billion in 2016 to $3.44 billion in 2025, a change of 25.3%.

Gates Industrial's total liabilities were at $3.46 billion at the end of 2025, a 0.5% increase from 2024, and a 36.2% decrease since 2017.

In the past 8 years, Gates Industrial's cash and equivalents has ranged from $423.40 million in 2018 to $812.10 million in 2025, and is currently $812.10 million as of their latest financial filing in 2025.

Over the last 9 years, Gates Industrial's book value per share changed from 0.00 in 2016 to 12.91 in 2025, a change of 1,290.9%.

Related Companies

Financial statements for NYSE:GTES last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Gates Industrial (GTES) Financials

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Gates Industrial (GTES) Financials

Annual Income Statements for Gates Industrial

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