Donaldson Inc Financials
This page shows Donaldson Inc (DCI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Donaldson Inc has an operating margin of 13.4%, meaning the company retains $13 of operating profit per $100 of revenue. This strong profitability earns a score of 67/100, reflecting efficient cost management and pricing power. This is down from 15.2% the prior year.
Donaldson Inc's revenue grew a modest 2.9% year-over-year to $3.7B. This slow but positive growth earns a score of 37/100.
Donaldson Inc carries a low D/E ratio of 0.44, meaning only $0.44 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.15, Donaldson Inc holds $2.15 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 66/100.
Donaldson Inc has a free cash flow margin of 9.2%, earning a moderate score of 46/100. The company generates positive cash flow after capital investments, but with room for improvement.
Donaldson Inc earns a strong 24.2% return on equity (ROE), meaning it generates $24 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 97/100. This is down from 26.8% the prior year.
Donaldson Inc scores 8.36, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($12.6B) relative to total liabilities ($1.5B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Donaldson Inc passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Donaldson Inc generates $1.14 in operating cash flow ($418.8M OCF vs $367.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Donaldson Inc earns $20.5 in operating income for every $1 of interest expense ($495.4M vs $24.2M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Donaldson Inc generated $3.7B in revenue in fiscal year 2025. This represents an increase of 2.9% from the prior year.
Donaldson Inc's EBITDA was $594.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 7.4% from the prior year.
Donaldson Inc generated $339.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 16.5% from the prior year.
Donaldson Inc reported $367.0M in net income in fiscal year 2025. This represents a decrease of 11.4% from the prior year.
Donaldson Inc earned $3.05 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 9.8% from the prior year.
Donaldson Inc held $210.7M in cash against $671.5M in long-term debt as of fiscal year 2025.
Donaldson Inc paid $1.14 per share in dividends in fiscal year 2025. This represents an increase of 9.6% from the prior year.
Donaldson Inc had 116M shares outstanding in fiscal year 2025. This represents a decrease of 3.2% from the prior year.
Donaldson Inc's gross margin was 34.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.7 percentage points from the prior year.
Donaldson Inc's operating margin was 13.4% in fiscal year 2025, reflecting core business profitability. This is down 1.7 percentage points from the prior year.
Donaldson Inc's net profit margin was 9.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.6 percentage points from the prior year.
Donaldson Inc's ROE was 24.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.6 percentage points from the prior year.
Donaldson Inc invested $87.8M in research and development in fiscal year 2025. This represents a decrease of 6.2% from the prior year.
Donaldson Inc spent $331.5M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 103.7% from the prior year.
Donaldson Inc invested $78.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 7.8% from the prior year.
DCI Income Statement
| Metric | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q2'24 | Q3'24 | Q1'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $935.4M-0.5% | $940.1M+8.1% | $870.0M-3.3% | $900.1M+2.7% | $876.7M-5.5% | $927.9M+9.6% | $846.3M+2.2% | $828.3M |
| Cost of Revenue | $606.6M-1.9% | $618.2M+9.6% | $564.1M-2.8% | $580.5M+2.2% | $568.1M-5.0% | $597.8M+9.6% | $545.4M+0.3% | $543.9M |
| Gross Profit | $328.8M+2.1% | $321.9M+5.2% | $305.9M-4.3% | $319.6M+3.6% | $308.6M-6.5% | $330.1M+9.7% | $300.9M+5.8% | $284.4M |
| R&D Expenses | $19.2M-10.3% | $21.4M+0.9% | $21.2M-6.6% | $22.7M+2.7% | $22.1M-10.9% | $24.8M+16.4% | $21.3M+15.1% | $18.5M |
| SG&A Expenses | $169.6M+12.2% | $151.1M-5.1% | $159.2M-4.2% | $166.1M+5.9% | $156.8M-3.0% | $161.7M+4.3% | $155.0M+3.6% | $149.6M |
| Operating Income | $149.3M+70.8% | $87.4M-30.4% | $125.5M-4.1% | $130.8M+0.8% | $129.7M-9.7% | $143.6M+15.2% | $124.6M+7.1% | $116.3M |
| Interest Expense | $7.1M+24.6% | $5.7M-3.4% | $5.9M+7.3% | $5.5M-1.8% | $5.6M+12.0% | $5.0M-9.1% | $5.5M+19.6% | $4.6M |
| Income Tax | $33.6M+15.1% | $29.2M+0.3% | $29.1M-7.6% | $31.5M+4.0% | $30.3M-0.7% | $30.5M-1.0% | $30.8M+12.8% | $27.3M |
| Net Income | $113.9M+97.1% | $57.8M-39.7% | $95.9M-3.1% | $99.0M+0.3% | $98.7M-13.0% | $113.5M+23.2% | $92.1M+7.1% | $86.0M |
| EPS (Diluted) | $0.97+102.1% | $0.48-39.2% | $0.79-2.5% | $0.810.0% | $0.81-12.0% | $0.92+22.7% | $0.75+7.1% | $0.70 |
DCI Balance Sheet
| Metric | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q2'24 | Q3'24 | Q1'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.0B+1.0% | $3.0B+1.2% | $3.0B-2.7% | $3.0B+4.4% | $2.9B+1.7% | $2.9B+3.5% | $2.8B-0.1% | $2.8B |
| Current Assets | $1.5B+2.6% | $1.5B+3.7% | $1.4B-3.8% | $1.5B+2.9% | $1.4B+2.7% | $1.4B+6.7% | $1.3B+2.1% | $1.3B |
| Cash & Equivalents | $210.7M+18.0% | $178.5M-5.6% | $189.1M-14.5% | $221.2M-4.9% | $232.7M+4.0% | $223.7M+2.7% | $217.8M+16.4% | $187.1M |
| Inventory | $533.3M+0.7% | $529.4M-2.1% | $540.8M+4.0% | $520.0M+9.1% | $476.7M+7.2% | $444.7M+3.5% | $429.6M+2.8% | $418.1M |
| Accounts Receivable | $655.6M-1.5% | $665.6M+11.4% | $597.6M-5.3% | $631.3M+0.3% | $629.7M-1.4% | $638.4M+9.6% | $582.5M-2.9% | $599.7M |
| Goodwill | $494.8M+1.0% | $489.8M+4.4% | $469.3M-2.2% | $479.9M+0.3% | $478.4M+0.7% | $475.3M+1.3% | $469.3M-2.5% | $481.1M |
| Total Liabilities | $1.5B-1.4% | $1.5B+8.1% | $1.4B-5.6% | $1.5B+5.3% | $1.4B+3.1% | $1.4B-3.5% | $1.4B-1.2% | $1.4B |
| Current Liabilities | $703.9M-7.4% | $760.1M-0.7% | $765.8M-4.3% | $800.6M+2.3% | $782.5M+6.4% | $735.2M-16.7% | $882.6M+16.7% | $756.4M |
| Long-Term Debt | $671.5M+5.1% | $638.8M+24.1% | $514.7M-4.4% | $538.6M+5.6% | $510.0M+5.9% | $481.8M+31.4% | $366.6M-41.2% | $623.4M |
| Total Equity | $1.5B+3.6% | $1.5B-5.2% | $1.5B+0.1% | $1.5B+3.6% | $1.5B+0.3% | $1.5B+11.1% | $1.3B+1.2% | $1.3B |
| Retained Earnings | $2.7B+6.2% | $2.6B+2.3% | $2.5B+1.3% | $2.5B+4.2% | $2.4B+1.9% | $2.3B+7.0% | $2.2B+4.4% | $2.1B |
DCI Cash Flow Statement
| Metric | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q2'24 | Q3'24 | Q1'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $125.4M+43.0% | $87.7M-3.0% | $90.4M+24.0% | $72.9M-42.1% | $126.0M-11.0% | $141.5M+2.5% | $138.0M-27.7% | $190.8M |
| Capital Expenditures | $14.2M-3.4% | $14.7M-21.8% | $18.8M-25.1% | $25.1M+26.8% | $19.8M-7.0% | $21.3M-8.2% | $23.2M-9.7% | $25.7M |
| Free Cash Flow | $111.2M+52.3% | $73.0M+2.0% | $71.6M+49.8% | $47.8M-55.0% | $106.2M-11.6% | $120.2M+4.7% | $114.8M-30.5% | $165.1M |
| Investing Cash Flow | -$3.4M+76.9% | -$14.7M+23.0% | -$19.1M+80.1% | -$96.0M-402.6% | -$19.1M+18.0% | -$23.3M-0.4% | -$23.2M+86.5% | -$172.2M |
| Financing Cash Flow | -$93.1M-7.1% | -$86.9M+11.6% | -$98.3M-1103.1% | $9.8M+110.0% | -$98.4M-14.7% | -$85.8M-8.7% | -$78.9M-335.9% | -$18.1M |
| Dividends Paid | $34.7M+7.4% | $32.3M+0.3% | $32.2M-0.6% | $32.4M-0.3% | $32.5M+8.3% | $30.0M-0.7% | $30.2M-0.3% | $30.3M |
| Share Buybacks | $91.5M-52.0% | $190.6M+2547.2% | $7.2M-90.3% | $74.4M+52.1% | $48.9M+79.8% | $27.2M-49.0% | $53.3M+136.9% | $22.5M |
DCI Financial Ratios
| Metric | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q2'24 | Q3'24 | Q1'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.1%+0.9pp | 34.2%-0.9pp | 35.2%-0.4pp | 35.5%+0.3pp | 35.2%-0.4pp | 35.6%+0.0pp | 35.5%+1.2pp | 34.3% |
| Operating Margin | 16.0%+6.7pp | 9.3%-5.1pp | 14.4%-0.1pp | 14.5%-0.3pp | 14.8%-0.7pp | 15.5%+0.8pp | 14.7%+0.7pp | 14.0% |
| Net Margin | 12.2%+6.0pp | 6.2%-4.9pp | 11.0%+0.0pp | 11.0%-0.3pp | 11.3%-1.0pp | 12.2%+1.4pp | 10.9%+0.5pp | 10.4% |
| Return on Equity | 7.5%+3.6pp | 4.0%-2.3pp | 6.2%-0.2pp | 6.4%-0.8pp | 7.2%-0.5pp | 7.6%+0.8pp | 6.9%-0.3pp | 7.2% |
| Return on Assets | 3.8%+1.8pp | 1.9%-1.3pp | 3.2%-0.0pp | 3.3%-0.3pp | 3.5%-0.4pp | 4.0%+0.6pp | 3.3%0.0pp | 3.3% |
| Current Ratio | 2.15+0.2 | 1.94+0.1 | 1.860.0 | 1.85+0.0 | 1.84-0.1 | 1.91+0.4 | 1.49-0.2 | 1.70 |
| Debt-to-Equity | 0.440.0 | 0.44+0.1 | 0.33-0.0 | 0.350.0 | 0.34+0.0 | 0.32+0.1 | 0.27-0.2 | 0.47 |
| FCF Margin | 11.9%+4.1pp | 7.8%-0.5pp | 8.2%+2.9pp | 5.3%-2.2pp | 7.5%-5.5pp | 13.0%-0.6pp | 13.6%+4.8pp | 8.8% |
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Frequently Asked Questions
What is Donaldson Inc's annual revenue?
Donaldson Inc (DCI) reported $3.7B in total revenue for fiscal year 2025. This represents a 2.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Donaldson Inc's revenue growing?
Donaldson Inc (DCI) revenue grew by 2.9% year-over-year, from $3.6B to $3.7B in fiscal year 2025.
Is Donaldson Inc profitable?
Yes, Donaldson Inc (DCI) reported a net income of $367.0M in fiscal year 2025, with a net profit margin of 9.9%.
What is Donaldson Inc's earnings per share (EPS)?
Donaldson Inc (DCI) reported diluted earnings per share of $3.05 for fiscal year 2025. This represents a -9.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Donaldson Inc's EBITDA?
Donaldson Inc (DCI) had EBITDA of $594.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Donaldson Inc have?
As of fiscal year 2025, Donaldson Inc (DCI) had $210.7M in cash and equivalents against $671.5M in long-term debt.
What is Donaldson Inc's gross margin?
Donaldson Inc (DCI) had a gross margin of 34.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Donaldson Inc's operating margin?
Donaldson Inc (DCI) had an operating margin of 13.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Donaldson Inc's net profit margin?
Donaldson Inc (DCI) had a net profit margin of 9.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Donaldson Inc pay dividends?
Yes, Donaldson Inc (DCI) paid $1.14 per share in dividends during fiscal year 2025.
What is Donaldson Inc's return on equity (ROE)?
Donaldson Inc (DCI) has a return on equity of 24.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Donaldson Inc's free cash flow?
Donaldson Inc (DCI) generated $339.9M in free cash flow during fiscal year 2025. This represents a -16.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Donaldson Inc's operating cash flow?
Donaldson Inc (DCI) generated $418.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Donaldson Inc's total assets?
Donaldson Inc (DCI) had $3.0B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Donaldson Inc's capital expenditures?
Donaldson Inc (DCI) invested $78.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Donaldson Inc spend on research and development?
Donaldson Inc (DCI) invested $87.8M in research and development during fiscal year 2025.
Does Donaldson Inc buy back shares?
Yes, Donaldson Inc (DCI) spent $331.5M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Donaldson Inc have outstanding?
Donaldson Inc (DCI) had 116M shares outstanding as of fiscal year 2025.
What is Donaldson Inc's current ratio?
Donaldson Inc (DCI) had a current ratio of 2.15 as of fiscal year 2025, which is generally considered healthy.
What is Donaldson Inc's debt-to-equity ratio?
Donaldson Inc (DCI) had a debt-to-equity ratio of 0.44 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Donaldson Inc's return on assets (ROA)?
Donaldson Inc (DCI) had a return on assets of 12.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Donaldson Inc's Altman Z-Score?
Donaldson Inc (DCI) has an Altman Z-Score of 8.36, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Donaldson Inc's Piotroski F-Score?
Donaldson Inc (DCI) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Donaldson Inc's earnings high quality?
Donaldson Inc (DCI) has an earnings quality ratio of 1.14x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Donaldson Inc cover its interest payments?
Donaldson Inc (DCI) has an interest coverage ratio of 20.5x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Donaldson Inc?
Donaldson Inc (DCI) scores 68 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.