Donaldson Company (DCI) financial statements
Donaldson Company reported revenue of $3.9B in fiscal 2026, up 5.6% a year over 9 years.
Net income was $454M and the operating margin 15.4%, against 13.6% in 2017.
Free cash flow was $426M, and the company returned $141M in dividends and $111M in net buybacks.
The diluted share count fell 12% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Donaldson Company's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.4B | $2.7B | $2.8B | $2.6B | $2.9B | $3.3B | $3.4B | $3.6B | $3.7B | $3.9B |
| Cost of revenue | $1.6B | $1.8B | $1.9B | $1.7B | $1.9B | $2.2B | $2.3B | $2.3B | $2.4B | $2.5B |
| Gross profit | $821M | $936M | $948M | $872M | $972M | $1.1B | $1.2B | $1.3B | $1.3B | $1.3B |
| Research and development | $55M | $60M | $62M | $61M | $68M | $69M | $78M | $94M | $88M | $76M |
| Selling, general and admin | — | — | $498M | $470M | $519M | $555M | $602M | $637M | $642M | $679M |
| Operating income | $324M | $377M | $388M | $340M | $385M | $444M | $480M | $544M | $495M | $600M |
| Interest expense | $20M | $21M | $20M | $17M | $13M | $15M | $19M | $21M | $24M | $36M |
| Pre-tax income | $322M | $364M | $375M | $335M | $381M | $438M | $469M | $535M | $492M | $586M |
| Income tax | $89M | $183M | $108M | $78M | $94M | $106M | $110M | $121M | $125M | $132M |
| Net income | $233M | $180M | $267M | $257M | $287M | $333M | $359M | $414M | $367M | $454M |
| EPS (diluted) | $1.74 | $1.36 | $2.05 | $2.00 | $2.24 | $2.66 | $2.90 | $3.38 | $3.05 | $3.85 |
| Diluted shares | 134M | 132M | 130M | 128M | 128M | 125M | 124M | 123M | 120M | 118M |
| Gross margin | 34.6% | 34.2% | 33.3% | 33.8% | 34.0% | 32.3% | 33.8% | 35.5% | 34.8% | 34.6% |
| Operating margin | 13.6% | 13.8% | 13.6% | 13.2% | 13.5% | 13.4% | 14.0% | 15.2% | 13.4% | 15.4% |
| Net margin | 9.8% | 6.6% | 9.4% | 10.0% | 10.1% | 10.1% | 10.5% | 11.5% | 9.9% | 11.7% |
Balance sheet
Fiscal years, from Donaldson Company's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $308M | $205M | $178M | $237M | $223M | $193M | $187M | $233M | $180M | $250M |
| Receivables | $498M | $535M | $530M | $455M | $553M | $617M | $600M | $630M | $662M | $758M |
| Inventory | $294M | $334M | $333M | $323M | $384M | $502M | $418M | $477M | $514M | $539M |
| Total current assets | $1.2B | $1.1B | $1.1B | $1.1B | $1.2B | $1.4B | $1.3B | $1.4B | $1.5B | $1.7B |
| Property, plant and equipment | $485M | $509M | $589M | $632M | $618M | $594M | $653M | $646M | $644M | $633M |
| Goodwill | $238M | $238M | $303M | $317M | $322M | $346M | $481M | $478M | $494M | $1.1B |
| Total assets | $2.0B | $2.0B | $2.1B | $2.2B | $2.4B | $2.6B | $2.8B | $2.9B | $3.0B | $4.0B |
| Total current liabilities | $484M | $469M | $483M | $407M | $607M | $630M | $756M | $782M | $757M | $804M |
| Long-term debt | $537M | $500M | $584M | $617M | $461M | $644M | $497M | $483M | $630M | $1.3B |
| Total liabilities | $1.1B | $1.1B | $1.2B | $1.2B | $1.3B | $1.5B | $1.4B | $1.4B | $1.5B | $2.2B |
| Shareholders' equity | $854M | $858M | $893M | $993M | $1.1B | $1.1B | $1.3B | $1.5B | $1.5B | $1.8B |
| Net debt | $229M | $295M | $407M | $381M | $238M | $451M | $310M | $251M | $450M | $1.0B |
Cash flow
Fiscal years, from Donaldson Company's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $318M | $263M | $346M | $387M | $402M | $253M | $544M | $492M | $419M | $494M |
| Capital spending | $66M | $98M | $151M | $124M | $59M | $86M | $118M | $86M | $79M | $67M |
| Free cash flow | $252M | $165M | $195M | $263M | $343M | $167M | $426M | $407M | $340M | $426M |
| Stock-based compensation | $9M | $17M | $15M | $15M | $14M | $20M | $20M | $22M | $24M | $25M |
| Dividends paid | $92M | $95M | $100M | $106M | $107M | $110M | $114M | $123M | $132M | $141M |
| Share buybacks (net) | -$140M | -$122M | -$129M | -$94M | -$142M | -$171M | -$142M | -$163M | -$332M | -$111M |
| Net borrowing | $48M | -$69M | $85M | -$18M | -$117M | $155M | $0 | -$115M | $124M | $656M |
| Free cash flow margin | 10.6% | 6.0% | 6.9% | 10.2% | 12.0% | 5.1% | 12.4% | 11.3% | 9.2% | 11.0% |
| Dividends per share | $0.69 | $0.72 | $0.77 | $0.83 | $0.84 | $0.88 | $0.93 | $1.00 | $1.10 | $1.20 |
Questions
What was Donaldson Company's revenue in 2026?
$3.9B in fiscal 2026, from its 10-K filing.
How much free cash flow does Donaldson Company generate?
$426M in fiscal 2026 (operating cash flow minus capital spending).
From Donaldson Company's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.