NYSE: EMR
EMERSON ELECTRIC COCIK 0000032604 · SIC 3600 · Electronic & Electrical Equipment
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Latest financial statements
From 10-K filed Nov 9, 2026 (period ending Sep 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Earnings
(Dollars and shares in millions, except per share amounts)
| Description | 2024 | 2025 | 2026 |
|---|---|---|---|
| Net sales | 17,492 | 18,016 | 18,982 |
| Cost of sales | 8,607 | 8,497 | 8,854 |
| Selling, general and administrative expenses | 5,142 | 5,103 | 5,296 |
| Gain on subordinated interest | (79) | — | — |
| Loss on Copeland note receivable | 279 | — | — |
| Other deductions, net | 1,423 | 1,274 | 1,009 |
| Interest expense, net of interest income of: 2024, $148; 2025, $150; 2026, $104 | 175 | 237 | 334 |
| Interest income from related party | (86) | — | — |
| Earnings from continuing operations before income taxes | 2,031 | 2,905 | 3,489 |
| Income taxes | 420 | 690 | 796 |
| Earnings from continuing operations | 1,611 | 2,215 | 2,693 |
| Discontinued operations, net of tax of: 2024, $85; 2025, $(4); 2026, $— | 350 | 8 | — |
| Net earnings | 1,961 | 2,223 | 2,693 |
| Less: Noncontrolling interests in earnings of subsidiaries | (13) | (47) | 2 |
| Net earnings common stockholders | 1,974 | 2,270 | 2,691 |
| Earnings common stockholders: | |||
| Earnings from continuing operations | 1,624 | 2,262 | 2,691 |
| Discontinued operations | 350 | 8 | — |
| Net earnings common stockholders | 1,974 | 2,270 | 2,691 |
| Basic earnings per share common stockholders: | |||
| Earnings from continuing operations | 2.84 | 4.01 | 4.81 |
| Discontinued operations | 0.61 | 0.01 | — |
| Basic earnings per common share | 3.45 | 4.02 | 4.81 |
| Diluted earnings per share common stockholders: | |||
| Earnings from continuing operations | 2.83 | 3.99 | 4.79 |
| Discontinued operations | 0.61 | 0.01 | — |
| Diluted earnings per common share | 3.44 | 4.00 | 4.79 |
| Weighted average outstanding shares: | |||
| Basic | 571.3 | 564.0 | 559.6 |
| Diluted | 574.0 | 566.7 | 562.0 |
Consolidated Balance Sheets
(Dollars and shares in millions, except per share amounts)
| Description | 2025 | 2026 |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash and equivalents | 1,544 | 1,806 |
| Receivables, less allowances of $123 in 2025 and $134 in 2026 | 3,101 | 3,317 |
| Inventories | 2,213 | 2,432 |
| Other current assets | 1,725 | 1,962 |
| Total current assets | 8,583 | 9,517 |
| Property, plant and equipment, net | 2,871 | 2,859 |
| Other assets | ||
| Goodwill | 18,193 | 18,104 |
| Other intangible assets | 9,458 | 8,442 |
| Other | 2,859 | 2,892 |
| Total other assets | 30,510 | 29,438 |
| Total assets | 41,964 | 41,814 |
| LIABILITIES AND EQUITY | ||
| Current liabilities | ||
| Short-term borrowings and current maturities of long-term debt | 4,797 | 4,667 |
| Accounts payable | 1,384 | 1,698 |
| Accrued expenses | 3,616 | 3,753 |
| Total current liabilities | 9,797 | 10,118 |
| Long-term debt | 8,319 | 7,508 |
| Other liabilities | 3,550 | 3,432 |
| Equity | ||
| Common stock, $0.50 par value; authorized, 1,200.0 shares; issued, 953.4 shares; outstanding, 562.8 shares in 2025; 557.3 shares in 2026 | 477 | 477 |
| Additional paid-in-capital | 85 | 176 |
| Retained earnings | 40,335 | 41,753 |
| Accumulated other comprehensive income (loss) | (553) | (677) |
| Cost of common stock in treasury, 390.6 shares in 2025; 396.1 shares in 2026 | (20,062) | (20,989) |
| Common stockholders’ equity | 20,282 | 20,740 |
| Noncontrolling interests in subsidiaries | 16 | 16 |
| Total equity | 20,298 | 20,756 |
| Total liabilities and equity | 41,964 | 41,814 |
| See accompanying Notes to Consolidated Financial Statements. | ||
Consolidated Statements of Cash Flows
(Dollars in millions)
| Description | 2024 | 2025 | 2026 |
|---|---|---|---|
| Operating activities | |||
| Net earnings | 1,961 | 2,223 | 2,693 |
| Earnings from discontinued operations, net of tax | (350) | (8) | — |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Depreciation and amortization | 1,689 | 1,518 | 1,478 |
| Stock compensation | 260 | 263 | 237 |
| Amortization of acquisition-related inventory step-up | 231 | — | — |
| Pension expense (income) | (128) | 9 | (25) |
| Pension funding | (38) | (46) | (38) |
| Gain on subordinated interest | (79) | — | — |
| Loss on Copeland note receivable | 279 | — | — |
| Changes in operating working capital | (151) | (9) | (338) |
| Other, net | (357) | (274) | (29) |
| Cash from continuing operations | 3,317 | 3,676 | 3,978 |
| Cash from discontinued operations | 15 | (578) | — |
| Cash provided by operating activities | 3,332 | 3,098 | 3,978 |
| Investing activities | |||
| Capital expenditures | (419) | (431) | (443) |
| Purchases of businesses, net of cash and equivalents acquired | (8,342) | (37) | (6) |
| Proceeds from subordinated interest | 79 | — | — |
| Other, net | (114) | (125) | (6) |
| Cash from continuing operations | (8,796) | (593) | (455) |
| Cash from discontinued operations | 3,436 | — | — |
| Cash used in investing activities | (5,360) | (593) | (455) |
| Financing activities | |||
| Net increase (decrease) in short-term borrowings | (15) | 1,110 | 2,051 |
| Proceeds from short-term borrowings greater than three months | 322 | 8,008 | 7,058 |
| Payments of short-term borrowings greater than three months | (327) | (4,918) | (9,388) |
| Proceeds from long-term debt | — | 1,544 | — |
| Payments of long-term debt | (547) | (503) | (588) |
| Dividends paid | (1,201) | (1,192) | (1,244) |
| Purchases of common stock | (435) | (1,167) | (1,000) |
| AspenTech purchases of common stock | (208) | — | — |
| Purchase of noncontrolling interest | — | (7,244) | — |
| Repurchase of AspenTech share awards | — | (76) | — |
| Other, net | (44) | (72) | (111) |
| Cash used in financing activities | (2,455) | (4,510) | (3,222) |
| Effect of exchange rate changes on cash and equivalents | 20 | (39) | (39) |
| Increase (Decrease) in cash and equivalents | (4,463) | (2,044) | 262 |
| Beginning cash and equivalents | 8,051 | 3,588 | 1,544 |
| Ending cash and equivalents | 3,588 | 1,544 | 1,806 |
| Changes in operating working capital | |||
| Receivables | (99) | (171) | (244) |
| Inventories | 122 | (1) | (241) |
| Other current assets | (149) | (152) | (293) |
| Accounts payable | (16) | 34 | 291 |
| Accrued expenses | (9) | 281 | 149 |
| Total changes in operating working capital | (151) | (9) | (338) |
Amounts as printed on the EDGAR/iXBRL face — (Dollars and shares in millions, except per share amounts); (Dollars in millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗