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DCI

Donaldson Company, Inc.

DCI

Donaldson Company, Inc. • NYSE
$89.90 ▼ -0.33% (-0.30)
Market Cap $10.42 B
52w High $90.94
52w Low $57.45
Dividend Yield 1.14%
P/E 29.48
Volume 324.26K
Outstanding Shares 115.94M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $980.7M ▲ $187.1M ▼ $114.3M ▲ 11.655% ▲ $0.98 ▲ $181.2M ▲
Q3-2025 $940.1M ▲ $234.5M ▲ $57.8M ▼ 6.148% ▼ $0.49 ▼ $117.3M ▼
Q2-2025 $870M ▼ $180.4M ▼ $95.9M ▼ 11.023% ▲ $0.8 ▼ $155.9M ▼
Q1-2025 $900.1M ▼ $188.8M ▲ $99M ▼ 10.999% ▼ $0.83 ▼ $161.5M ▼
Q4-2024 $935.4M $188.6M $109.7M 11.728% $0.91 $169.6M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $180.4M ▲ $2.977B ▼ $1.524B ▼ $1.454B ▼
Q3-2025 $178.5M ▼ $2.997B ▲ $1.532B ▲ $1.464B ▼
Q2-2025 $189.1M ▼ $2.961B ▼ $1.417B ▼ $1.544B ▲
Q1-2025 $221.2M ▼ $3.044B ▲ $1.501B ▲ $1.543B ▲
Q4-2024 $232.7M $2.914B $1.425B $1.489B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $114.3M ▲ $167.8M ▲ $-20.6M ▼ $-146.3M ▼ $1.9M ▲ $147.5M ▲
Q3-2025 $57.8M ▼ $87.7M ▼ $-14.7M ▲ $-86.9M ▲ $-10.6M ▲ $73M ▲
Q2-2025 $95.9M ▼ $90.4M ▲ $-19.1M ▲ $-98.3M ▼ $-32.1M ▼ $71.5M ▲
Q1-2025 $99M ▼ $72.9M ▼ $-96M ▼ $9.8M ▲ $-11.5M ▼ $47.9M ▼
Q4-2024 $109.7M $126M $-19.1M $-98.4M $9M $106.2M

Revenue by Products

Product Q1-2025Q2-2025Q3-2025Q4-2025
Life Sciences Segment
Life Sciences Segment
 $70.00M ▲$70.00M ▲$70.00M ▲$80.00M ▲
Engine Products Segment
Engine Products Segment
 $570.00M ▲$550.00M ▼$580.00M ▲$0 ▼
Industrial Products
Industrial Products
 $260.00M ▲$250.00M ▼$280.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the past five years, showing a business that continues to win orders and retain customers. Profitability has generally trended upward as well, with operating profit improving over time, which signals decent cost control and pricing power. However, the most recent year shows a slight step back in profit per share and earnings versus the prior peak, even though sales kept rising. That suggests some margin pressure, higher costs, or mix shifts that investors may want to watch, but overall the income statement still reflects a durable, consistently profitable industrial business rather than a volatile one.

Balance Sheet

Balance Sheet The balance sheet looks reasonably solid and has expanded over time, which fits a company that is steadily growing. Total assets and shareholder equity have both increased, showing reinvestment in the business and retained earnings. Debt has risen more recently and now sits a bit higher than several years ago, while cash balances have eased slightly. This points to a more leveraged, but still measured, capital structure rather than an overly stretched one. Overall, the company appears financially stable, but the gradual build-up in debt is a factor to monitor if growth were to slow.

Cash Flow

Cash Flow Cash generation is a key strength. The company consistently produces cash from its operations and has maintained positive free cash flow every year in the period shown, even during a year of heavier working capital needs. Free cash flow peaked a couple of years ago and has softened somewhat since, in line with the slight margin compression, but remains comfortably positive after funding capital expenditures. Capital spending is steady and manageable, suggesting disciplined investment rather than aggressive expansion. In short, cash flow supports ongoing investment, dividends or buybacks, and debt service without obvious strain, though the recent downward drift is worth tracking.

Competitive Edge

Competitive Edge Donaldson operates from a strong competitive position built on specialized filtration technology, long-standing customer relationships, and a large installed base. Its filters are mission-critical but usually a small part of total equipment cost, which encourages customers to favor reliability over cheaper alternatives. Deep integration with equipment makers, a broad global footprint, and a significant aftermarket business create recurring revenue and high switching costs. Competitors in industrial filtration are serious and well-funded, but Donaldson’s combination of technical know‑how, patents, and service support provides a durable, multi-layered moat that has translated into steady financial performance.

Innovation and R&D

Innovation and R&D Innovation is at the core of the company’s strategy. Donaldson invests consistently in research and development, with a large patent portfolio and proprietary filter media that differentiate its products on performance, durability, and energy efficiency. It is expanding beyond traditional engine and industrial filtration into faster-growing areas like life sciences, advanced venting, and alternative powertrain solutions, including batteries, fuel cells, and hydrogen. Digital offerings such as connected filter monitoring add a data and services layer on top of hardware, deepening customer ties. This innovation engine both reinforces the current moat and opens new markets, though success in newer segments like bioprocessing and electrification will take time to fully prove out.

Summary

Overall, Donaldson looks like a mature, steadily growing industrial company with a strong niche in filtration and a long history of profitability. Sales and operating profits have climbed over the past five years, even though the latest year shows some pressure on earnings per share and cash flow versus a recent peak. The balance sheet is sound, with rising equity and manageable but gradually higher debt. Consistent free cash flow supports ongoing investment and shareholder returns. Strategically, Donaldson benefits from a defensible moat built on technology, aftermarket exposure, and tight OEM relationships, while its sustained R&D and push into life sciences, electrification, and connected solutions provide potential long-term growth drivers. The main things to watch are margin trends, the use of leverage, and the execution of its newer, higher-growth initiatives.

NEWS

November 21, 2025 · 2:50 PM UTC

Donaldson Company Announces Preliminary Results of Annual Meeting, Shareholders Elect New Director Dan Shine to Board of Directors

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November 21, 2025 · 1:35 PM UTC

Donaldson Company Declares Quarterly Cash Dividend

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November 7, 2025 · 7:00 AM UTC

Donaldson Company to Present at the Baird 2025 Global Industrial Conference

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November 6, 2025 · 7:00 AM UTC

Donaldson to Webcast First Quarter Fiscal 2026 Earnings Conference Call

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November 3, 2025 · 8:00 AM UTC

Ginkgo Bioworks Awarded Project Agreement through BARDA's BioMaP-Consortium

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