GATES INDUSTRIAL CORP Financials
GATES INDUSTRIAL CORP (GTES) reported $3.4B in revenue for fiscal year 2025, up 1.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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).
Stable sales are funding stronger cash generation while lower interest costs, not operating expansion, drive the latest earnings rebound.
The FY2025 earnings rebound was financial rather than operational:$251M of net income rose even as operating profit margin eased to13.5% , pointing to lower below-operating costs as the main bridge. Meanwhile, cash conversion strengthened as free cash flow reached$405M , exceeding net income and lifting cash to$812M ; earnings are therefore translating into liquidity rather than being absorbed by reinvestment.
Debt-to-equity fell to 0.7x from 0.8x while the current ratio rose to 3.4x, pointing to a more conservative financing posture with stronger short-term coverage. The improvement spans both leverage and liquidity, rather than reflecting only a larger cash balance.
Capital expenditures were
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of GATES INDUSTRIAL CORP's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
GATES INDUSTRIAL CORP has an operating margin of 13.5%, meaning the company retains $14 of operating profit per $100 of revenue. This strong profitability earns a score of 82/100, reflecting efficient cost management and pricing power. This is down from 13.9% the prior year.
GATES INDUSTRIAL CORP's revenue grew a modest 1.0% year-over-year to $3.4B. This slow but positive growth earns a score of 26/100.
GATES INDUSTRIAL CORP has a moderate D/E ratio of 0.66. This balance of debt and equity financing earns a leverage score of 30/100.
With a current ratio of 3.37, GATES INDUSTRIAL CORP holds $3.37 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 81/100.
GATES INDUSTRIAL CORP converts 11.8% of revenue into free cash flow ($404.9M). This strong cash generation earns a score of 70/100.
GATES INDUSTRIAL CORP earns a strong 7.5% return on equity (ROE), meaning it generates $8 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 70/100. This is up from 6.5% the prior year.
GATES INDUSTRIAL CORP scores 2.45, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
GATES INDUSTRIAL CORP passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, GATES INDUSTRIAL CORP generates $1.90 in operating cash flow ($478.1M OCF vs $251.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
GATES INDUSTRIAL CORP earns $3.70 in operating income for every $1 of interest expense ($465.3M vs $125.9M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
GATES INDUSTRIAL CORP generated $3.4B in revenue in fiscal year 2025. This represents an increase of 1.0% from the prior year.
GATES INDUSTRIAL CORP's EBITDA was $679.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 1.5% from the prior year.
GATES INDUSTRIAL CORP reported $251.4M in net income in fiscal year 2025. This represents an increase of 29.0% from the prior year.
GATES INDUSTRIAL CORP earned $0.96 per diluted share (EPS) in fiscal year 2025. This represents an increase of 29.7% from the prior year.
Cash & Balance Sheet
GATES INDUSTRIAL CORP generated $404.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 36.6% from the prior year.
GATES INDUSTRIAL CORP held $812.1M in cash against $2.2B in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
GATES INDUSTRIAL CORP's gross margin was 39.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. That is unchanged from the prior year.
GATES INDUSTRIAL CORP's operating margin was 13.5% in fiscal year 2025, reflecting core business profitability. This is down 0.3 percentage points from the prior year.
GATES INDUSTRIAL CORP's net profit margin was 7.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.6 percentage points from the prior year.
GATES INDUSTRIAL CORP's ROE was 7.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.1 percentage points from the prior year.
Capital Allocation
GATES INDUSTRIAL CORP invested $71.9M in research and development in fiscal year 2025. This represents an increase of 8.1% from the prior year.
GATES INDUSTRIAL CORP spent $119.3M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 32.3% from the prior year.
GATES INDUSTRIAL CORP invested $73.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 11.9% from the prior year.
GTES Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.5B | $3.4B+1.0% | $3.4B-4.5% | $3.6B+0.5% | $3.6B+2.3% | $3.5B+24.4% | $2.8B-9.5% | $3.1B-7.8% | $3.3B+10.1% | $3.0B+10.7% | $2.7B |
| Cost of Revenue | $2.1B | $2.1B+1.1% | $2.0B-7.3% | $2.2B-4.0% | $2.3B+7.9% | $2.1B+21.4% | $1.8B-9.6% | $1.9B-3.6% | $2.0B+10.6% | $1.8B+8.2% | $1.7B |
| Gross Profit | $1.4B | $1.4B+1.0% | $1.4B0.0% | $1.4B+8.7% | $1.3B-6.6% | $1.3B+29.4% | $1.0B-9.4% | $1.1B-14.1% | $1.3B+9.2% | $1.2B+14.8% | $1.1B |
| R&D Expenses | N/A | $71.9M+8.1% | $66.5M+0.8% | $66.0M-4.9% | $69.4M-1.8% | $70.7M+5.2% | $67.2M-1.0% | $67.9M-4.9% | $71.4M+4.1% | $68.6M+0.1% | $68.5M |
| SG&A Expenses | $906.3M | $876.1M0.0% | $876.5M-0.9% | $884.7M+3.6% | $853.7M+0.1% | $852.7M+9.8% | $776.9M-0.1% | $777.3M-3.5% | $805.8M+3.7% | $777.1M+5.3% | $737.7M |
| Operating Income | $465.2M | $465.3M-1.5% | $472.2M+2.6% | $460.1M+19.8% | $384.0M-20.7% | $484.1M+129.3% | $211.1M-39.1% | $346.8M-30.2% | $496.8M+23.3% | $402.9M+32.0% | $305.3M |
| Interest Expense | $127.4M | $125.9M-19.2% | $155.8M-4.5% | $163.2M+17.1% | $139.4M+4.4% | $133.5M-13.5% | $154.3M-2.2% | $157.8M-10.3% | $175.9M-25.0% | $234.6M+8.5% | $216.3M |
| Income Tax | -$45.4M | $63.1M-41.3% | $107.5M+279.9% | $28.3M+89.9% | $14.9M-19.0% | $18.4M+195.3% | -$19.3M+96.1% | -$495.9M-1659.4% | $31.8M+143.9% | -$72.5M-443.6% | $21.1M |
| Net Income | $363.5M | $251.4M+29.0% | $194.9M-16.3% | $232.9M+5.5% | $220.8M-25.7% | $297.1M+274.2% | $79.4M-88.5% | $690.1M+181.3% | $245.3M+62.1% | $151.3M+162.2% | $57.7M |
| EPS (Diluted) | — | $0.96+29.7% | $0.74-11.9% | $0.84+9.1% | $0.77-23.0% | $1.00+270.4% | $0.27-88.6% | $2.37+182.1% | $0.84+40.0% | $0.60+160.9% | $0.23 |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
GTES Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $7.2B+5.4% | $6.8B-6.5% | $7.3B+0.9% | $7.2B-4.5% | $7.5B+1.4% | $7.4B+0.2% | $7.4B+10.2% | $6.7B-1.9% | $6.9B | N/A |
| Current Assets | $2.5B+7.6% | $2.3B-4.0% | $2.4B+5.4% | $2.3B-0.1% | $2.3B+19.5% | $1.9B-2.7% | $2.0B+7.9% | $1.8B-0.6% | $1.8B | N/A |
| Cash & Equivalents | $812.1M+19.1% | $682.0M-5.4% | $720.6M+24.6% | $578.4M-12.1% | $658.2M+26.2% | $521.4M-17.9% | $635.3M+50.0% | $423.4M-25.0% | $564.4M+6.7% | $528.8M |
| Inventory | $700.0M+3.6% | $676.0M+4.4% | $647.2M-1.4% | $656.2M-3.9% | $682.6M+34.3% | $508.2M+7.0% | $475.1M-11.6% | $537.6M+17.6% | $457.1M | N/A |
| Accounts Receivable | $744.2M+3.0% | $722.7M-5.9% | $768.2M-5.0% | $808.6M+14.2% | $708.1M+1.9% | $695.0M0.0% | $694.7M-6.4% | $742.3M+4.0% | $713.8M | N/A |
| Goodwill | $2.0B+6.6% | $1.9B-6.4% | $2.0B+2.9% | $2.0B-4.0% | $2.1B-2.7% | $2.1B+2.9% | $2.1B+0.7% | $2.0B-1.9% | $2.1B+9.1% | $1.9B |
| Total Liabilities | $3.5B+0.5% | $3.4B-7.1% | $3.7B-1.0% | $3.7B-7.5% | $4.1B-4.5% | $4.2B-3.6% | $4.4B+0.3% | $4.4B-19.1% | $5.4B | N/A |
| Current Liabilities | $735.4M+1.9% | $721.5M-7.4% | $779.3M+3.6% | $752.3M-12.1% | $855.9M+17.8% | $726.3M+10.4% | $658.1M-3.1% | $679.0M-2.7% | $697.8M | N/A |
| Long-Term Debt | $2.2B-5.0% | $2.3B-4.3% | $2.4B-0.5% | $2.4B-4.0% | $2.5B-5.2% | $2.7B-8.5% | $2.9B-1.4% | $3.0B-24.1% | $3.9B | N/A |
| Total Equity | $3.3B+10.3% | $3.0B-6.1% | $3.2B+3.5% | $3.1B+0.3% | $3.1B+10.5% | $2.8B+5.8% | $2.7B+36.1% | $1.9B+91.9% | $1.0B-5.0% | $1.1B |
| Retained Earnings | $1.7B+11.7% | $1.5B+1.2% | $1.5B-1.4% | $1.5B+3.1% | $1.4B+24.9% | $1.2B+7.4% | $1.1B+180.7% | $381.9M+179.0% | $136.9M | N/A |
GTES Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $476.6M | $478.1M+25.9% | $379.6M-21.1% | $481.0M+81.0% | $265.8M-30.5% | $382.4M+23.8% | $309.0M-11.4% | $348.9M+11.3% | $313.5M-2.0% | $319.9M-15.1% | $376.7M |
| Capital Expenditures | $71.3M | $73.2M-11.9% | $83.1M+35.8% | $61.2M-21.1% | $77.6M-0.1% | $77.7M+33.5% | $58.2M-19.3% | $72.1M-56.6% | $166.1M+64.3% | $101.1M+71.4% | $59.0M |
| Free Cash Flow | $405.3M | $404.9M+36.6% | $296.5M-29.4% | $419.8M+123.1% | $188.2M-38.2% | $304.7M+21.5% | $250.8M-9.4% | $276.8M+87.8% | $147.4M-32.6% | $218.8M-31.1% | $317.7M |
| Investing Cash Flow | -$98.8M | -$119.0M-14.0% | -$104.4M-27.6% | -$81.8M+9.8% | -$90.7M-5.5% | -$86.0M-11.0% | -$77.5M+0.6% | -$78.0M+68.0% | -$243.6M-7.3% | -$227.0M-234.3% | -$67.9M |
| Financing Cash Flow | -$268.5M | -$251.1M+12.4% | -$286.7M-11.0% | -$258.3M-2.1% | -$253.1M-70.3% | -$148.6M+58.0% | -$353.8M-496.6% | -$59.3M+70.2% | -$198.9M-164.1% | -$75.3M+32.0% | -$110.8M |
| Share Buybacks | $145.0M | $119.3M-32.3% | $176.1M-30.0% | $251.7M+43.1% | $175.9M+1559.4% | $10.6M | $0 | $0 | $0-100.0% | $1.6M-20.0% | $2.0M |
Not reported in any period shown, so not listed: Dividends Paid.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
GTES Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 39.8%0.0pp | 39.9%+1.8pp | 38.1%+2.9pp | 35.2%-3.4pp | 38.5%+1.5pp | 37.0%0.0pp | 37.0%-2.7pp | 39.8%-0.3pp | 40.0%+1.4pp | 38.6% |
| Operating Margin | 13.5%-0.3pp | 13.9%+1.0pp | 12.9%+2.1pp | 10.8%-3.1pp | 13.9%+6.4pp | 7.6%-3.7pp | 11.2%-3.6pp | 14.8%+1.6pp | 13.3%+2.1pp | 11.1% |
| Net Margin | 7.3%+1.6pp | 5.7%-0.8pp | 6.5%+0.3pp | 6.2%-2.3pp | 8.6%+5.7pp | 2.8%-19.5pp | 22.4%+15.0pp | 7.3%+2.4pp | 5.0%+2.9pp | 2.1% |
| Return on Equity | 7.5%+1.1pp | 6.5%-0.8pp | 7.2%+0.1pp | 7.1%-2.5pp | 9.6%+6.8pp | 2.8%-23.2pp | 26.0%+13.4pp | 12.6%-2.3pp | 14.9%+9.5pp | 5.4% |
| Return on Assets | 3.5%+0.7pp | 2.9%-0.3pp | 3.2%+0.1pp | 3.1%-0.9pp | 3.9%+2.9pp | 1.1%-8.2pp | 9.3%+5.7pp | 3.6%+1.4pp | 2.2% | N/A |
| Current Ratio | 3.37+0.2x | 3.20+0.1x | 3.08+0.1x | 3.03+0.4x | 2.660.0x | 2.63-0.4x | 2.98+0.3x | 2.67+0.1x | 2.62 | N/A |
| Debt-to-Equity | 0.66-0.1x | 0.760.0x | 0.750.0x | 0.780.0x | 0.82-0.1x | 0.95-0.1x | 1.10-0.4x | 1.52-2.3x | 3.83 | N/A |
| FCF Margin | 11.8%+3.1pp | 8.7%-3.1pp | 11.8%+6.5pp | 5.3%-3.5pp | 8.8%-0.2pp | 9.0%0.0pp | 9.0%+4.6pp | 4.4%-2.8pp | 7.2%-4.4pp | 11.6% |
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Where GATES INDUSTRIAL CORP Ranks
Frequently Asked Questions
What is GATES INDUSTRIAL CORP's annual revenue?
GATES INDUSTRIAL CORP (GTES) reported $3.4B in total revenue for fiscal year 2025. This represents a 1.0% 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 GATES INDUSTRIAL CORP's revenue growing?
GATES INDUSTRIAL CORP (GTES) revenue grew by 1.0% year-over-year, from $3.4B to $3.4B in fiscal year 2025.
Is GATES INDUSTRIAL CORP profitable?
Yes, GATES INDUSTRIAL CORP (GTES) reported a net income of $251.4M in fiscal year 2025, with a net profit margin of 7.3%.
What is GATES INDUSTRIAL CORP's EBITDA?
GATES INDUSTRIAL CORP (GTES) had EBITDA of $679.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does GATES INDUSTRIAL CORP have?
As of fiscal year 2025, GATES INDUSTRIAL CORP (GTES) had $812.1M in cash and equivalents against $2.2B in long-term debt.
What is GATES INDUSTRIAL CORP's gross margin?
GATES INDUSTRIAL CORP (GTES) had a gross margin of 39.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is GATES INDUSTRIAL CORP's operating margin?
GATES INDUSTRIAL CORP (GTES) had an operating margin of 13.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is GATES INDUSTRIAL CORP's net profit margin?
GATES INDUSTRIAL CORP (GTES) had a net profit margin of 7.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is GATES INDUSTRIAL CORP's return on equity (ROE)?
GATES INDUSTRIAL CORP (GTES) has a return on equity of 7.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is GATES INDUSTRIAL CORP's free cash flow?
GATES INDUSTRIAL CORP (GTES) generated $404.9M in free cash flow during fiscal year 2025. This represents a 36.6% 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 GATES INDUSTRIAL CORP's operating cash flow?
GATES INDUSTRIAL CORP (GTES) generated $478.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are GATES INDUSTRIAL CORP's total assets?
GATES INDUSTRIAL CORP (GTES) had $7.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are GATES INDUSTRIAL CORP's capital expenditures?
GATES INDUSTRIAL CORP (GTES) invested $73.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does GATES INDUSTRIAL CORP spend on research and development?
GATES INDUSTRIAL CORP (GTES) invested $71.9M in research and development during fiscal year 2025.
What is GATES INDUSTRIAL CORP's current ratio?
GATES INDUSTRIAL CORP (GTES) had a current ratio of 3.37 as of fiscal year 2025, which is generally considered healthy.
What is GATES INDUSTRIAL CORP's debt-to-equity ratio?
GATES INDUSTRIAL CORP (GTES) had a debt-to-equity ratio of 0.66 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is GATES INDUSTRIAL CORP's return on assets (ROA)?
GATES INDUSTRIAL CORP (GTES) had a return on assets of 3.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is GATES INDUSTRIAL CORP's Altman Z-Score?
GATES INDUSTRIAL CORP (GTES) has an Altman Z-Score of 2.45, placing it in the Grey Zone (moderate 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 GATES INDUSTRIAL CORP's Piotroski F-Score?
GATES INDUSTRIAL CORP (GTES) has a Piotroski F-Score of 7 out of 9, indicating strong 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are GATES INDUSTRIAL CORP's earnings high quality?
GATES INDUSTRIAL CORP (GTES) has an earnings quality ratio of 1.90x, 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 GATES INDUSTRIAL CORP cover its interest payments?
GATES INDUSTRIAL CORP (GTES) has an interest coverage ratio of 3.70x, meaning it can adequately 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 GATES INDUSTRIAL CORP?
GATES INDUSTRIAL CORP (GTES) scores 60 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.