NYSE: DCI
DONALDSON Co INCCIK 0000029644 · SIC 3564 · Industrial & Commercial Fans & Blowers & Air Purifing Equip
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Donaldson FY26 net income +23.7% to $453.8M on 5.3% revenue growth; Facet acquisition drives debt higher
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Latest financial statements
From 10-K filed Sep 25, 2026 (period ending Jul 31, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Earnings
(In millions, except per share amounts)
| Description | Year ended July 31, 2026 | Year ended July 31, 2025 | Year ended July 31, 2024 |
|---|---|---|---|
| Net sales | 3,885.6 | 3,690.9 | 3,586.3 |
| Cost of sales | 2,539.7 | 2,404.7 | 2,311.9 |
| Gross profit | 1,345.9 | 1,286.2 | 1,274.4 |
| Selling, general and administrative | 679.2 | 642.2 | 636.7 |
| Loss on impairment of intangible assets | — | 62.0 | — |
| Gain on sale of fixed assets | (9.3) | (1.2) | — |
| Research and development | 76.1 | 87.8 | 93.6 |
| Operating expenses | 746.0 | 790.8 | 730.3 |
| Operating income | 599.9 | 495.4 | 544.1 |
| Interest expense | 36.0 | 24.2 | 21.4 |
| Other income, net | (21.9) | (21.0) | (12.6) |
| Earnings before income taxes | 585.8 | 492.2 | 535.3 |
| Income taxes | 132.0 | 125.2 | 121.3 |
| Net earnings | 453.8 | 367.0 | 414.0 |
| Weighted average shares basic | 115.8 | 118.7 | 120.7 |
| Weighted average shares diluted | 117.9 | 120.4 | 122.6 |
| Net earnings per share basic | 3.92 | 3.09 | 3.43 |
| Net earnings per share diluted | 3.85 | 3.05 | 3.38 |
Consolidated Balance Sheets
(In millions, except share and per share amounts)
| Description | As of July 31, 2026 | As of July 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | 250.4 | 180.4 |
| Accounts receivable, less allowances of $3.2 and $2.9, respectively | 758.1 | 662.2 |
| Inventories, net | 538.7 | 513.6 |
| Prepaid expenses and other current assets | 122.5 | 105.5 |
| Total current assets | 1,669.7 | 1,461.7 |
| Property, plant and equipment, net | 633.3 | 644.5 |
| Goodwill | 1,086.8 | 493.6 |
| Intangible assets, net | 304.6 | 97.4 |
| Other long-term assets | 292.4 | 280.0 |
| Total assets | 3,986.8 | 2,977.2 |
| Liabilities and Stockholders’ Equity | ||
| Current liabilities: | ||
| Short-term borrowings | 44.8 | 31.2 |
| Current maturities of long-term debt | — | 6.7 |
| Accounts payable | 378.6 | 368.6 |
| Accrued employee compensation and related taxes | 152.5 | 144.3 |
| Income taxes payable | 20.5 | 43.9 |
| Other current liabilities | 207.7 | 162.5 |
| Total current liabilities | 804.1 | 757.2 |
| Long-term debt | 1,280.0 | 630.4 |
| Non-current income taxes payable | 19.0 | 19.0 |
| Deferred income taxes | 28.3 | 10.5 |
| Other long-term liabilities | 91.0 | 106.6 |
| Total liabilities | 2,222.4 | 1,523.7 |
| Commitments and contingencies (Note 18) | ||
| Stockholders’ equity: | ||
| Preferred stock, $1.00 par value, 1,000,000 shares authorized, none issued | — | — |
| Common stock, $5.00 par value, 240,000,000 shares authorized, 151,643,194 shares issued | 758.2 | 758.2 |
| Additional paid-in capital | 44.6 | 35.8 |
| Retained earnings | 2,920.3 | 2,610.1 |
| Accumulated other comprehensive loss | (146.2) | (180.7) |
| Treasury stock, 35,649,047 and 35,600,740 shares, respectively, at cost | (1,812.5) | (1,769.9) |
| Total stockholders’ equity | 1,764.4 | 1,453.5 |
| Total liabilities and stockholders’ equity | 3,986.8 | 2,977.2 |
Consolidated Statements of Cash Flows
(In millions)
| Description | Year ended July 31, 2026 | Year ended July 31, 2025 | Year ended July 31, 2024 |
|---|---|---|---|
| Operating Activities | |||
| Net earnings | 453.8 | 367.0 | 414.0 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Depreciation and amortization | 106.0 | 99.5 | 98.4 |
| Equity in earnings of affiliates, net of distributions | (8.0) | (3.6) | (4.7) |
| Deferred income taxes | (0.3) | (24.0) | (24.3) |
| Stock-based compensation expense | 24.7 | 24.0 | 22.0 |
| Loss on impairment of intangible assets | — | 62.0 | — |
| Gain on sale of fixed assets | (9.3) | (1.2) | — |
| Other, net | 9.8 | (4.7) | 3.7 |
| Changes in operating assets and liabilities, excluding effect of acquired businesses: | |||
| Accounts receivable, net | (75.1) | (21.4) | (39.4) |
| Inventories, net | 0.8 | (32.2) | (65.6) |
| Prepaid expenses and other current assets | (12.5) | 6.3 | (28.3) |
| Accounts payable | (2.0) | (5.5) | 80.3 |
| Income taxes payable | (25.7) | (34.4) | 4.4 |
| Accrued employee compensation and related taxes and other current liabilities | 31.5 | (13.0) | 32.0 |
| Net cash provided by operating activities | 493.7 | 418.8 | 492.5 |
| Investing Activities | |||
| Purchases of property, plant and equipment | (67.4) | (78.9) | (85.6) |
| Proceeds from sale of property, plant and equipment | 10.5 | 2.1 | 0.7 |
| Equity investment | — | (71.2) | — |
| Acquisitions, net of cash acquired | (822.6) | (2.4) | (2.0) |
| Net cash used in investing activities | (879.5) | (150.4) | (86.9) |
| Financing Activities | |||
| Proceeds from long-term debt | 858.9 | 388.1 | 119.7 |
| Repayments of long-term debt | (216.2) | (265.0) | (228.8) |
| Change in short-term borrowings | 13.7 | 1.2 | (5.7) |
| Purchase of treasury stock | (111.2) | (331.5) | (162.7) |
| Payment of contingent consideration | (2.3) | (5.5) | (1.7) |
| Dividends paid | (141.2) | (131.9) | (122.8) |
| Tax withholding for stock compensation transactions | (6.0) | (5.7) | (8.0) |
| Exercise of stock options | 55.9 | 28.6 | 54.1 |
| Net cash provided by (used in) financing activities | 451.6 | (321.7) | (355.9) |
| Effect of exchange rate changes on cash | 4.2 | 1.0 | (4.1) |
| Increase (decrease) in cash and cash equivalents | 70.0 | (52.3) | 45.6 |
| Cash and cash equivalents, beginning of year | 180.4 | 232.7 | 187.1 |
| Cash and cash equivalents, end of year | 250.4 | 180.4 | 232.7 |
| Supplemental Cash Flow Information | |||
| Income taxes paid | 160.9 | 176.2 | 147.8 |
| Interest paid | 33.1 | 22.2 | 23.4 |
| Supplemental Disclosure of Non-Cash Operating and Investing Transactions | |||
| Accrued property, plant and equipment additions | 10.0 | 10.7 | 14.2 |
| Leased assets obtained in exchange for new operating lease liabilities | 22.2 | 24.0 | 22.7 |
Amounts as printed on the EDGAR/iXBRL face — (In millions, except per share amounts); (In millions, except share and per share amounts); (In millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗