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GTES

Gates Industrial Corporation plc

GTES

Gates Industrial Corporation plc • NYSE
$22.76 ▲ 1.38% (+0.31)
Market Cap $5.84 B
52w High $26.46
52w Low $14.70
Dividend Yield 0%
P/E 25.01
Volume 844.00K
Outstanding Shares 256.47M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $855.7M ▼ $226.2M ▼ $81.6M ▲ 9.536% ▲ $0.32 ▲ $183.3M ▲
Q2-2025 $883.7M ▲ $244.4M ▲ $56.5M ▼ 6.394% ▼ $0.22 ▼ $160.6M ▼
Q1-2025 $847.6M ▲ $219.9M ▼ $62M ▲ 7.315% ▲ $0.24 ▼ $174.1M ▼
Q4-2024 $829.4M ▼ $222.7M ▲ $36.6M ▼ 4.413% ▼ $0.75 ▲ $174.8M ▲
Q3-2024 $830.7M $222.6M $47.6M 5.73% $0.18 $156.3M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $689.4M ▼ $7.15B ▼ $3.435B ▼ $3.37B ▲
Q2-2025 $719.7M ▲ $7.218B ▲ $3.606B ▲ $3.269B ▲
Q1-2025 $640.2M ▼ $6.886B ▲ $3.458B ▲ $3.102B ▲
Q4-2024 $682M ▲ $6.786B ▼ $3.446B ▼ $3.024B ▼
Q3-2024 $574.4M $7.122B $3.664B $3.11B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $88.6M ▲ $98M ▼ $-24.9M ▲ $-101.5M ▼ $-30.5M ▼ $73.2M ▼
Q2-2025 $63.1M ▼ $103M ▲ $-31M $-8.8M ▲ $79.7M ▲ $83.6M ▲
Q1-2025 $68.3M ▲ $7.3M ▼ $-31M ▼ $-24.6M ▲ $-41.7M ▼ $-18.9M ▼
Q4-2024 $41.1M ▼ $190.9M ▲ $-24.1M ▲ $-33.2M ▲ $107.3M ▲ $157.5M ▲
Q3-2024 $55.1M $115.9M $-40.2M $-95.9M $-5.4M $87.9M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Fluid Power Segment
Fluid Power Segment
 $310.00M ▲$320.00M ▲$330.00M ▲$320.00M ▼
Power Transmission Segment
Power Transmission Segment
 $520.00M ▲$530.00M ▲$550.00M ▲$530.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has been fairly steady over the past few years, with only small ups and downs, which suggests a mature, stable business rather than a fast‑growing one. Profitability has generally improved from earlier years, but recent results show that earnings are not on a clear upward path and can soften when demand or costs move against them. Margins look reasonable for an industrial supplier and hint at some pricing power, but net profit remains modest relative to the size of the business. Overall, the income statement points to a resilient, cash‑generating industrial company, but not one currently in a strong growth phase.

Balance Sheet

Balance Sheet The balance sheet shows a company that is relatively stable, with total assets moving within a narrow band over time. Debt levels are meaningful but have been edging down, and equity has gradually built up, which improves the capital base. Cash on hand is steady, giving some room to maneuver but not an unusually large buffer. In simple terms, the company looks reasonably well‑funded and not overly stretched, but it still carries enough debt that balance‑sheet discipline remains important, especially in an economic downturn.

Cash Flow

Cash Flow Gates consistently generates positive cash from its operations, although the amount has moved around from year to year, reflecting industrial cycles and working‑capital swings. Free cash flow has been positive every year and has generally improved compared with the earlier period, after funding a modest but steady investment program. Capital spending appears disciplined and focused rather than aggressive. Overall, cash flow quality is a clear strength: the business converts earnings into cash and maintains room to reinvest while still keeping a surplus.

Competitive Edge

Competitive Edge Gates operates in critical, often mission‑essential applications where reliability matters more than the lowest price. Its long history, strong brand, and reputation for quality give it a clear edge with both equipment makers and replacement customers. A large share of sales comes from the aftermarket, where parts must be replaced quickly when they fail, which supports recurring demand and reduces exposure to big project cycles. The company’s engineered, application‑specific products are harder to commoditize, and its broad global footprint and distribution network make it difficult for smaller rivals to match its reach and service levels. Together, these factors create a solid, diversified moat, though Gates still faces the usual cyclical risks tied to industrial and automotive markets.

Innovation and R&D

Innovation and R&D Innovation is a central theme for Gates. The company leans heavily on its materials‑science expertise to design belts, hoses, and systems that are lighter, more efficient, and longer‑lasting. It is actively pushing “chain‑to‑belt” conversions in industrial drives, building advanced hydraulic solutions for harsh environments, and targeting growth areas such as electric‑vehicle thermal management, liquid‑cooling for data centers, and belt drives for e‑bikes and other personal mobility. Gates backs this with ongoing investment in R&D, dedicated test labs, and design software tools that lock in customer relationships. The main opportunity is to translate this innovation pipeline into sustained, higher‑margin growth, while the key risk is execution and adoption speed in new markets where competition and technology are evolving quickly.

Summary

Gates looks like a steady, cash‑generating industrial company with a long history, entrenched customer relationships, and a defensible position in critical power‑transmission and fluid‑power components. Financially, it shows stable revenue, improving but still variable profitability, solid free‑cash‑flow generation, and a balance sheet that appears sound but not debt‑free. Strategically, its strength lies in its aftermarket exposure, engineering depth, and global footprint, while its future upside depends on how well it capitalizes on trends like electrification, automation, data‑center expansion, and personal mobility. The overall picture is of a durable, innovation‑driven industrial franchise with meaningful competitive advantages, tempered by normal cyclical risk and a growth profile that is steady rather than explosive.

NEWS

November 24, 2025 · 4:30 PM UTC

Gates Industrial to Participate in the 2025 Goldman Sachs Industrials and Materials Conference

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November 11, 2025 · 9:00 AM UTC

Gates Strengthens Data Center Portfolio with Launch of Data Master™ Eco

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November 4, 2025 · 4:30 PM UTC

Gates Industrial to Participate in the Baird 2025 Global Industrial Conference

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October 29, 2025 · 8:00 AM UTC

Gates Industrial Reports Third-Quarter 2025 Results

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October 14, 2025 · 4:30 PM UTC

Gates Industrial Announces Third-Quarter 2025 Earnings Release Date

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