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Donaldson (DCI) earnings and revenue breakdown

Latest: Q4 FY26 · 10-K filed Sep 25, 2026 · Donaldson (DCI) Q4 FY26 earnings results →

Q4 FY26 Revenue up 8% year over year to $1.1B · 12¢ of every $1 of revenue kept as net profit · operating margin 16.7%

Donaldson made $1.1B in Q4 FY26 (+8% Y/Y). Operating margin 16.7%, net earnings $129M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-K filed Sep 25, 2026.

Revenue$1.1B
Year over year+8%
Operating margin16.7%
Net earnings$129M
Operating cash flow$200M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $1.1B in Q4 FY26, up 8% year over year and up 6% from the previous quarter.

Gross margin was 36.3%, up 1.7 points from Q4 FY25. Operating profit was $0.18B, a 16.7% margin (up 1.2 points year over year). Of the extra revenue versus Q4 FY25, 32% reached operating profit, above the 15% margin then. Operating expenses grew 11% against revenue growth of 8%. The fastest-growing cost line was SG&A (+14%). Net earnings were $0.13B, up 13% year over year. The effective tax rate was 22.5%.

Operating cash flow was $0.20B (up 19% year over year), 155% of net earnings. Non-cash charges added back $0.03B of depreciation and amortization and $4.3M of share-based compensation. Working capital and other items added $0.03B. After net capital expenditures ($0.01B), free cash flow as the company reports it was $0.19B.

Quarterly history

Donaldson revenue by quarterDonaldson revenue by quarter$870MQ2 FY25$940MQ3 FY25$981MQ4 FY25$935MQ1 FY26$896MQ2 FY26$995MQ3 FY26$1.1BQ4 FY26
Donaldson net earnings by quarterDonaldson net earnings by quarter$95.9MQ2 FY25$57.8MQ3 FY25$114MQ4 FY25$114MQ1 FY26$92.5MQ2 FY26$118MQ3 FY26$129MQ4 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q4 FY2610-KSep 25, 2026$1.1B+8%16.7%$129M$200M
Q3 FY2610-QJun 2, 2026$995M+6%15.6%$118M$135M
Q2 FY2610-QFeb 26, 2026$896M+3%13.2%$92.5M$33.0M
Q1 FY2610-QDec 4, 2025$935M+4%16.0%$114M$125M
Q4 FY2510-KSep 26, 2025$981M+5%15.5%$114M$168M
Q3 FY2510-QJun 3, 2025$940M+1%9.3%$57.8M$87.7M
Q2 FY2510-QMar 4, 2025$870M-0.8%14.4%$95.9M$90.4M

Charts

Donaldson: revenue growth, year over year and quarter over quarterDonaldson: revenue growth, year over year and quarter over quarterY/YQ/Q-1%Q2 FY25+1%+8%Q3 FY25+5%+4%Q4 FY25+4%-5%Q1 FY26+3%-4%Q2 FY26+6%+11%Q3 FY26+8%+6%Q4 FY26
Latest (Q4 FY26): Y/Y +8%, Q/Q +6%.
Donaldson: where the cash came from (+) and went (−), FY26Donaldson: where the cash came from (+) and went (−), FY26Acquisitions−$823MNet borrowing (+) / repaid (−)$656MOperating cash flow$494MDividends−$141MBuybacks−$111MCash drawn (+) / kept (−)−$70.0MCapital spending−$67.4MShares issued$55.9MAsset & business sales$10.5MTaxes on employees’ shares−$6.0MExchange rates$4.2MOther financing−$2.3M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Donaldson: profit against cash, quarter by quarterDonaldson: profit against cash, quarter by quarterNet incomeOperating cash flow$99.0M$72.9MQ1 FY25$95.9M$90.4MQ2 FY25$57.8M$87.7MQ3 FY25$114M$168MQ4 FY25$114M$125MQ1 FY26$92.5M$33.0MQ2 FY26$118M$135MQ3 FY26$129M$200MQ4 FY26
Latest (Q4 FY26): Net income $129M, Operating cash flow $200M.
Donaldson: diluted shares by fiscal yearDonaldson: diluted shares by fiscal year128MFY21125MFY22124MFY23123MFY24120MFY25118MFY26
-8.0% since FY21: buybacks shrank the count.
Donaldson: long-term debt falling due (FY26)Donaldson: long-term debt falling due (FY26)$206M2028$542M2029$435M2030$100MLater
Cash $250M, short-term investments —, long-term debt $1.3B at 2026-07-31.
Donaldson in its industry: growth against margin (5 companies, SIC 3564)Donaldson in its industry: growth against margin (5 companies, SIC 3564)revenue growth, year over year →↑ operating marginmedian +24%median 7%MAIRCECOPPIHFTEKDCI (+8%, 17%)
Industrial & Commercial Fans & Blowers & Air Purifing Equip; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Donaldson

Founded in 1915, Donaldson Company, Inc. (the Company or Donaldson) is a global leader in technology-led filtration products and solutions, serving a broad range of industries and advanced markets. Donaldson’s diverse and skilled employees at more than 150 locations on six continents, 77 of which are manufacturing and/or distribution centers, partner with customers — from small business owners to the world’s largest original equipment manufacturer (OEM) brands — to solve complex filtration challenges. Customers choose Donaldson's filtration solutions due to their stringent technical and performance requirements, the need for reliability and the value proposition of Donaldson's solutions and/or services.

In its own words, from its annual report, filed Sep 26, 2025.

Donaldson against its Industrial & Commercial Fans & Blowers & Air Purifing Equip peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +8% against the peers' median +24%. Operating margin: 16.7% against the peers' median 7.1%.

CompanyQuarterRevenueY/YOp. margin
DCI DonaldsonQ4 FY26$1.1B+8%16.7%
MAIR Madison Air SolutionsQ3 2026$1.1B+25%19.1%
CECO Ceco EnvironmentalQ2 2026$285M+54%-11.6%
PPIH Perma-Pipe International HoldingsQ2 FY27$59.6M+24%7.1%
FTEK Fuel TechQ3 2026$8.7M+16%-6.0%

Source: Donaldson 10-K on SEC EDGAR · CIK 29644 · Industrial & Commercial Fans & Blowers & Air Purifing Equip

Guidance and outlook

Donaldson Revenue: guidance against what was reportedDonaldson Revenue: guidance against what was reportedguided rangereported (above / within / below)FY26$3.9B
Met or beat 1 of 1 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.

13F: who owns DCI and who is buying

Largest holders of DCI (13F)Largest holders of DCI (13F)BlackRock$1.1BVanguard Group$1.0BState Farm Mutual Automobile Insu…$821MVanguard Portfolio Management LLC$586MVanguard Capital Management LLC$471MState Street$452MFMR LLC$353MGeode Capital Management, LLC$280MKayne Anderson Rudnick Investment…$250MMorgan Stanley$225M
Funds' net buying of DCI by quarter (13F)Funds' net buying of DCI by quarter (13F)−$57.5M2024-09$173M2024-12$132M2025-03−$125M2025-06−$74.6M2025-09$116M2025-12−$652K2026-03$257M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on DCI

History

Every quarter: Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results

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中文版：Donaldson（DCI）财报

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