Ingersoll Rand (IR) financial statements
Ingersoll Rand reported revenue of $7.7B in fiscal 2025, up 16.5% a year over 9 years.
Net income was $581M and the operating margin 15.0%, against 5.3% in 2016.
Free cash flow was $1.2B, and the company returned $32M in dividends and $1.0B in net buybacks.
The diluted share count rose 169% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Ingersoll Rand's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.9B | $2.4B | $2.7B | $2.0B | $4.0B | $5.2B | $5.9B | $6.9B | $7.2B | $7.7B |
| Cost of revenue | $1.2B | $1.5B | $1.7B | $1.2B | $2.6B | $3.2B | $3.6B | $4.0B | $4.1B | $4.3B |
| Gross profit | $717M | $898M | $1.0B | $778M | $1.4B | $2.0B | $2.3B | $2.9B | $3.2B | $3.3B |
| Research and development | $22M | $26M | $24M | $22M | $58M | $74M | $91M | $108M | $117M | $114M |
| Selling, general and admin | $415M | $446M | $435M | $410M | $789M | $1.0B | $1.1B | $1.3B | $1.3B | $1.4B |
| Operating income | $104M | $109M | $443M | $194M | $60M | $566M | $817M | $1.2B | $1.3B | $1.1B |
| Interest expense | $170M | $141M | $100M | $88M | $111M | $88M | $103M | $157M | $213M | $254M |
| Pre-tax income | -$63M | -$113M | $350M | $110M | -$45M | $513M | $742M | $1.0B | $1.1B | $935M |
| Income tax | -$32M | -$131M | $80M | $13M | $11M | -$22M | $150M | $240M | $262M | $219M |
| Net income | -$37M | $18M | $269M | $159M | -$33M | $562M | $605M | $779M | $839M | $581M |
| EPS (diluted) | -$0.25 | $0.10 | $1.29 | $0.76 | -$0.09 | $1.34 | $1.47 | $1.90 | $2.06 | $1.45 |
| Diluted shares | 149M | 188M | 209M | 209M | 383M | 421M | 410M | 409M | 407M | 401M |
| Gross margin | 37.0% | 37.8% | 37.6% | 38.6% | 35.4% | 38.6% | 39.3% | 41.9% | 43.8% | 43.6% |
| Operating margin | 5.3% | 4.6% | 16.5% | 9.6% | 1.5% | 11.0% | 13.8% | 16.9% | 18.0% | 15.0% |
| Net margin | -1.9% | 0.8% | 10.0% | 7.9% | -0.8% | 10.9% | 10.2% | 11.3% | 11.6% | 7.6% |
Balance sheet
Fiscal years, from Ingersoll Rand's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $256M | $393M | $221M | $506M | $1.8B | $2.1B | $1.6B | $1.6B | $1.5B | $1.2B |
| Receivables | $442M | $536M | $525M | $459M | $862M | $949M | $1.1B | $1.2B | $1.3B | $1.5B |
| Inventory | $444M | $494M | $524M | $502M | $717M | $854M | $1.0B | $1.0B | $1.1B | $1.2B |
| Total current assets | $1.2B | $1.5B | $1.3B | $1.5B | $3.9B | $4.1B | $4.0B | $4.1B | $4.2B | $4.2B |
| Property, plant and equipment | $358M | $363M | $357M | $327M | $609M | $649M | $624M | $711M | $842M | $930M |
| Goodwill | $1.2B | $1.2B | $1.3B | $1.1B | $5.6B | $6.0B | $6.1B | $6.6B | $8.1B | $8.5B |
| Total assets | $4.3B | $4.6B | $4.5B | $4.6B | $16.1B | $15.2B | $14.8B | $15.6B | $18.0B | $18.3B |
| Total current liabilities | $498M | $562M | $596M | $575M | $1.5B | $1.5B | $1.7B | $1.8B | $1.8B | $2.1B |
| Long-term debt | $2.8B | $2.0B | $1.7B | $1.6B | $3.9B | $3.4B | $2.7B | $2.7B | $4.8B | $4.8B |
| Total liabilities | $4.0B | $3.1B | $2.8B | $2.8B | $6.9B | $6.1B | $5.5B | $5.7B | $7.8B | $8.1B |
| Shareholders' equity | $266M | $1.5B | $1.7B | $1.9B | $9.1B | $9.0B | $9.2B | $9.8B | $10.2B | $10.1B |
| Net debt | $2.5B | $1.6B | $1.4B | $1.1B | $2.1B | $1.3B | $1.1B | $1.1B | $3.2B | $3.5B |
Cash flow
Fiscal years, from Ingersoll Rand's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $166M | $200M | $444M | $343M | $914M | $628M | $865M | $1.4B | $1.4B | $1.4B |
| Capital spending | $74M | $57M | $52M | $38M | $42M | $64M | $95M | $105M | $149M | $136M |
| Free cash flow | $91M | $144M | $392M | $305M | $872M | $564M | $771M | $1.3B | $1.2B | $1.2B |
| Stock-based compensation | $0 | $175M | $3M | $19M | $48M | $87M | $79M | $52M | $59M | $53M |
| Dividends paid | — | — | — | $0 | $0 | $8M | $32M | $32M | $32M | $32M |
| Share buybacks (net) | -$14M | -$4M | -$41M | -$19M | -$2M | -$737M | -$261M | -$263M | -$261M | -$1.0B |
| Net borrowing | -$26M | -$869M | -$338M | -$33M | $361M | -$436M | -$656M | -$28M | $2.1B | $0 |
| Free cash flow margin | 4.7% | 6.0% | 14.6% | 15.1% | 22.0% | 10.9% | 13.0% | 18.5% | 17.2% | 15.9% |
| Dividends per share | — | — | — | — | — | $0.02 | $0.08 | $0.08 | $0.08 | $0.08 |
Questions
What was Ingersoll Rand's revenue in 2025?
$7.7B in fiscal 2025, from its 10-K filing.
How much free cash flow does Ingersoll Rand generate?
$1.2B in fiscal 2025 (operating cash flow minus capital spending).
From Ingersoll Rand's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.