DCINYSEIndustrial & Commercial Fans & Blowers & Air Purifing EquipFiscal year ends July 31
DONALDSON Co INC
Financials through Q4 FY2026, quarter ended Jul 31, 2026Last filing: 10-K on Sep 25, 2026
$87.32−0.65 (-0.74%)
Close on Oct 19, 2026
- Market cap
- $10.30B
- P/E (TTM)
- 22.7
- Dividend yield
- 1.40%
Margins
Share of revenue, fiscal years 2012 to 2026
Gross margin
34.6%+0.6 pts over 5 years
Operating margin
15.4%+2.0 pts over 5 years
Net margin
11.7%+1.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +5.3% | +4.2% | +6.4% | +5.8% | |
| Gross profit | +4.6% | +5.1% | +6.7% | +6.0% | |
| Operating income | +21.1% | +7.7% | +9.3% | +8.1% | |
| Net income | +23.7% | +8.1% | +9.6% | +9.1% | |
| EPS, diluted | +26.2% | +9.9% | +11.4% | +10.5% | |
| Free cash flow | +25.4% | +0.0% | +4.5% | +6.9% | |
| Dividend per share | +9.9% | +8.3% | +7.2% | +5.9% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | 28.6% | 26.9% | 28.2% | |
| Return on assets | 12.4% | 12.4% | 13.0% | |
| Current ratio | 2.38 | 2.05 | 2.08 | |
| Debt to equity | 0.72 | 0.45 | 0.75 | |
| Net debt to EBITDA | 0.76× | 0.60× | 1.52× | |
| Interest coverage | 16.6× | 29.6× | 16.7× | |
| Inventory turnover | 5.9× | 5.3× | 4.8× | |
| Capex to revenue | 2.8% | 2.1% | 1.7% | |
| Diluted shares | 134M | 128M | 118M |
Where the cash went
Fiscal 2022 to 2026, five years combined
Donaldson generated $2.20B from operations and spent $1.97B on capital expenditure, dividends and share buybacks. 22% of that went back into the business.
Generated
$2.20B
Used
$1.97B
Capital expenditure$435.90M22%Dividends$620.40M31%Share buybacks$917.80M46%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin11.7%
×Asset turnover1.12×
×Equity multiplier2.16×
=Return on equity, FY202628.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | 11.7% | 1.12× | 2.16× | 28.2% |
| FY2025 | 9.9% | 1.25× | 2.00× | 24.9% |
| FY2024 | 11.5% | 1.26× | 2.02× | 29.5% |
| FY2023 | 10.5% | 1.28× | 2.19× | 29.2% |
| FY2022 | 10.1% | 1.32× | 2.20× | 29.3% |
| FY2021 | 10.1% | 1.23× | 2.18× | 26.9% |
| FY2020 | 10.0% | 1.18× | 2.33× | 27.3% |
| FY2019 | 9.4% | 1.38× | 2.35× | 30.5% |
| FY2018 | 6.6% | 1.38× | 2.31× | 21.1% |
| FY2017 | 9.8% | 1.26× | 2.32× | 28.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
7of 9 tests passed in fiscal 2026. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$453.80M
- Cash generatingOperating cash flow above zero$493.70M
- Return on assets improvedROA up on the prior year12.6% → 15.2%
- Earnings backed by cashOperating cash flow above net income$493.70M vs $453.80M
- Less leverageLong-term debt to assets fell21.2% → 32.1%
- Better liquidityCurrent ratio rose1.93 → 2.08
- No dilutionShare count did not rise120M → 118M
- Gross margin improvedGross margin up on the prior year34.85% → 34.64%
- More efficientAsset turnover rose1.27 → 1.31