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Donaldson Company, Inc. (DCI) 10-Year Financial Performance & Capital Metrics

DCI • • Industrial / General
IndustrialsIndustrial MachinerySpecialized Industrial ComponentsFiltration & Sealing Systems
AboutDonaldson Company, Inc. manufactures and sells filtration systems and replacement parts worldwide. The company operates through two segments, Engine Products and Industrial Products. Its Engine Products segment provides replacement filters for air and liquid filtration applications; air filtration systems; liquid filtration systems for fuel, lube, and hydraulic applications; exhaust and emissions systems and sensors; indicators; and monitoring systems. This segment sells its products to original equipment manufacturers (OEMs) in the construction, mining, agriculture, aerospace, defense, and transportation markets; and to independent distributors, OEM dealer networks, private label accounts, and large fleets. The company's Industrial Products segment offers dust, fume, and mist collectors; compressed air purification systems; gas and liquid filtration for food, beverage, and industrial processes; air filtration systems for gas turbines; polytetrafluoroethylene membrane-based products; and specialized air and gas filtration systems for applications, including hard disk drives, semi-conductor manufacturing and sensors, indicators, and monitoring systems. This segment sells its products to various dealers, distributors, OEMs of gas-fired turbines, and OEMs and end-users requiring air filtration solutions and replacement filters. Donaldson Company, Inc. was founded in 1915 and is headquartered in Bloomington, Minnesota.Show more
  • Revenue $3.69B +2.9%
  • EBITDA $657M +2.2%
  • Net Income $367M -11.4%
  • EPS (Diluted) 3.05 -9.8%
  • Gross Margin 34.85% -1.9%
  • EBITDA Margin 17.8% -0.7%
  • Operating Margin 15.1% -0.5%
  • Net Margin 9.94% -13.9%
  • ROE 24.94% -15.4%
  • ROIC 21.67% -3.2%
  • Debt/Equity 0.50 +25.1%
  • Interest Coverage 23.03 -9.4%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Dividend Aristocrat: 36 years of consecutive increases
  • ✓Excellent 3Y average ROE of 27.9%
  • ✓Healthy 5Y average net margin of 10.4%
  • ✓Trading near 52-week high
  • ✓Efficient asset utilization: 1.2x turnover

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y4.52%
5Y7.41%
3Y3.73%
TTM2.37%

Profit (Net Income) CAGR

10Y5.84%
5Y7.39%
3Y3.31%
TTM-9.27%

EPS CAGR

10Y7.43%
5Y8.81%
3Y4.67%
TTM-6.69%

ROCE

10Y Avg23.6%
5Y Avg24.14%
3Y Avg25.32%
Latest25.62%

Peer Comparison

Filtration & Sealing Systems
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Size & Scale
Valuation
Per Share
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
NPOEnPro Industries, Inc.5.09B241.7470.07-1%7.81%5.68%2.55%0.49
CSWCSW Industrials, Inc.5.49B328.9439.2510.78%14.88%12.5%2.77%0.06
DCIDonaldson Company, Inc.11.62B100.7333.032.92%10.25%25.18%2.93%0.50
GTESGates Industrial Corporation plc5.95B23.0531.15-4.54%6.93%6.37%4.98%0.74
ITTITT Inc.15.75B183.0829.0610.59%12.67%18.09%2.78%0.27
ITWIllinois Tool Works Inc.75.97B261.8922.36-1.3%19.05%94.27%3.74%2.44
ENOVEnovis Corporation1.39B24.26-1.6223.46%-61.22%-67.56%0.55

Profit & Loss

Jul 2016Jul 2017Jul 2018Jul 2019Jul 2020Jul 2021Jul 2022Jul 2023Jul 2024Jul 2025
Sales/Revenue+2.22B2.37B2.73B2.84B2.58B2.85B3.31B3.43B3.59B3.69B
Revenue Growth %-0.06%0.07%0.15%0.04%-0.09%0.11%0.16%0.04%0.05%0.03%
Cost of Goods Sold+1.47B1.55B1.8B1.9B1.71B1.88B2.24B2.27B2.31B2.4B
COGS % of Revenue0.66%0.65%0.66%0.67%0.66%0.66%0.68%0.66%0.64%0.65%
Gross Profit+754.8M823.1M935.5M948.3M871.6M971.7M1.07B1.16B1.27B1.29B
Gross Margin %0.34%0.35%0.34%0.33%0.34%0.34%0.32%0.34%0.36%0.35%
Gross Profit Growth %-0.07%0.09%0.14%0.01%-0.08%0.11%0.1%0.09%0.1%0.01%
Operating Expenses+480.6M494.5M555.5M560.1M531.5M587M623.9M680.4M730.3M728.8M
OpEx % of Revenue0.22%0.21%0.2%0.2%0.21%0.21%0.19%0.2%0.2%0.2%
Selling, General & Admin425.1M439.8M495.6M497.8M470.3M519.2M554.8M602.3M636.7M641M
SG&A % of Revenue0.19%0.19%0.18%0.17%0.18%0.18%0.17%0.18%0.18%0.17%
Research & Development55.5M54.7M59.9M62.3M61.2M67.8M69.1M78.1M93.6M87.8M
R&D % of Revenue0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.03%0.02%
Other Operating Expenses3.9M04.9M0000000
Operating Income+274.2M328.6M380M388.2M340.1M384.7M443.5M480.2M544.1M557.4M
Operating Margin %0.12%0.14%0.14%0.14%0.13%0.13%0.13%0.14%0.15%0.15%
Operating Income Growth %-0.05%0.2%0.16%0.02%-0.12%0.13%0.15%0.08%0.13%0.02%
EBITDA+349.1M403.8M456.7M469.3M427.7M480M537.8M572.5M642.5M656.9M
EBITDA Margin %0.16%0.17%0.17%0.16%0.17%0.17%0.16%0.17%0.18%0.18%
EBITDA Growth %-0.04%0.16%0.13%0.03%-0.09%0.12%0.12%0.06%0.12%0.02%
D&A (Non-Cash Add-back)74.9M75.2M76.7M81.1M87.6M95.3M94.3M92.3M98.4M99.5M
EBIT278.1M341.5M384.9M395.1M352.6M394M453.3M487.9M556.7M516.4M
Net Interest Income+-20.7M-19.5M-21.3M-19.9M-17.4M-13M-14.9M-19.2M-21.4M-24.2M
Interest Income0000000000
Interest Expense20.7M19.5M21.3M19.9M17.4M13M14.9M19.2M21.4M24.2M
Other Income/Expense-16.8M-6.6M-13.4M-13M-4.9M-3.7M-5.1M-11.5M-8.8M-65.2M
Pretax Income+257.4M322M363.6M375.2M335.2M381M438.4M468.7M535.3M492.2M
Pretax Margin %0.12%0.14%0.13%0.13%0.13%0.13%0.13%0.14%0.15%0.13%
Income Tax+66.6M89.2M183.3M108M78.2M94.1M105.6M109.9M121.3M125.2M
Effective Tax Rate %0.74%0.72%0.5%0.71%0.77%0.75%0.76%0.77%0.77%0.75%
Net Income+190.8M232.8M180.3M267.2M257M286.9M332.8M358.8M414M367M
Net Margin %0.09%0.1%0.07%0.09%0.1%0.1%0.1%0.1%0.12%0.1%
Net Income Growth %-0.08%0.22%-0.23%0.48%-0.04%0.12%0.16%0.08%0.15%-0.11%
Net Income (Continuing)190.8M232.8M180.3M267.2M257M286.9M332.8M358.8M414M367M
Discontinued Operations0000000000
Minority Interest4M4.4M4.8M5.4M5.8M00000
EPS (Diluted)+1.421.741.362.052.002.242.662.903.383.05
EPS Growth %-0.05%0.23%-0.22%0.51%-0.02%0.12%0.19%0.09%0.17%-0.1%
EPS (Basic)1.431.761.382.082.032.272.692.953.433.09
Diluted Shares Outstanding134.8M134.1M132.2M130.3M128.3M128.2M125.2M123.6M122.6M120.4M
Basic Shares Outstanding133.8M132.6M130.3M128.3M126.9M126.4M123.7M121.8M120.7M118.7M
Dividend Payout Ratio0.48%0.4%0.53%0.37%0.41%0.37%0.33%0.32%0.3%0.36%

Balance Sheet

Jul 2016Jul 2017Jul 2018Jul 2019Jul 2020Jul 2021Jul 2022Jul 2023Jul 2024Jul 2025
Total Current Assets+1.01B1.15B1.13B1.12B1.1B1.24B1.41B1.29B1.44B1.46B
Cash & Short-Term Investments243.2M308.4M204.7M177.8M236.6M222.8M193.3M187.1M232.7M180.4M
Cash Only243.2M308.4M204.7M177.8M236.6M222.8M193.3M187.1M232.7M180.4M
Short-Term Investments0000000000
Accounts Receivable452.4M497.7M534.6M529.5M455.3M552.7M616.6M599.7M629.7M662.2M
Days Sales Outstanding74.3776.5971.3767.9364.3770.6968.0663.864.0965.49
Inventory234.1M293.5M334.1M332.8M322.7M384.5M502.4M418.1M476.7M513.6M
Days Inventory Outstanding58.3169.1767.864.0568.8774.5681.8967.2275.2677.96
Other Current Assets80M51.4M52.3M00017.7M81.1M99M0
Total Non-Current Assets+778.9M828.7M850.9M1.02B1.15B1.16B1.19B1.48B1.48B1.52B
Property, Plant & Equipment469.8M484.6M509.3M588.9M705.3M617.8M594.4M652.9M645.5M644.5M
Fixed Asset Turnover4.73x4.89x5.37x4.83x3.66x4.62x5.56x5.25x5.56x5.73x
Goodwill229.3M238.1M238.4M303.1M316.8M322.5M345.8M481.1M478.4M493.6M
Intangible Assets38.5M40.6M35.6M70.9M67.3M61.6M99.8M188.1M171.9M97.4M
Long-Term Investments-29M-309M21.7M24.1M21.8M-26.6M22.4M-32.3M26.9M103.6M
Other Non-Current Assets41.3M344.1M62.3M89.7M87.2M154.3M153.8M162.4M164.3M176.4M
Total Assets+1.79B1.98B1.98B2.14B2.24B2.4B2.6B2.77B2.91B2.98B
Asset Turnover1.24x1.20x1.38x1.33x1.15x1.19x1.27x1.24x1.23x1.24x
Asset Growth %-0.01%0.11%-0%0.08%0.05%0.07%0.08%0.07%0.05%0.02%
Total Current Liabilities+543.8M484.1M469.4M482.9M406.8M606.6M629.6M756.4M782.5M757.2M
Accounts Payable143.3M194M201.3M237.5M187.7M293.9M338.5M304.9M379.4M368.6M
Days Payables Outstanding35.6945.7240.8545.7140.0656.9955.1849.0259.955.95
Short-Term Debt216.7M73.9M43.5M52.3M9.5M48.5M3.7M159.1M53.3M37.9M
Deferred Revenue (Current)1000K1000K1000K1000K01000K1000K1000K1000K0
Other Current Liabilities83.8M83.5M85.1M105.3M112.7M118M103.2M97.6M126.4M138.4M
Current Ratio1.86x2.38x2.40x2.32x2.70x2.05x2.23x1.70x1.84x1.93x
Quick Ratio1.43x1.77x1.69x1.64x1.90x1.42x1.44x1.15x1.23x1.25x
Cash Conversion Cycle96.99100.0498.3186.2893.1888.2694.788279.4587.5
Total Non-Current Liabilities+473.4M641.1M649.4M767M844.9M656.5M837.5M693.4M642.7M766.5M
Long-Term Debt350.2M537.3M499.6M584.4M617.4M461M644.3M496.6M483.4M630.4M
Capital Lease Obligations00200K048.1M028.5M42.4M41.3M37.8M
Deferred Tax Liabilities3.1M3.6M4.2M13.2M16.7M26.6M32.7M32.3M16.1M10.5M
Other Non-Current Liabilities118.5M100.2M145.4M159.4M162.7M168.9M132M154.4M101.9M87.8M
Total Liabilities1.02B1.13B1.12B1.25B1.25B1.26B1.47B1.45B1.43B1.52B
Total Debt+568.5M611.2M543.1M636.7M700.7M527.6M692.8M655.7M598.2M730.2M
Net Debt325.3M302.8M338.4M458.9M464.1M304.8M499.5M468.6M365.5M549.8M
Debt / Equity0.74x0.71x0.63x0.71x0.70x0.46x0.61x0.50x0.40x0.50x
Debt / EBITDA1.63x1.51x1.19x1.36x1.64x1.10x1.29x1.15x0.93x1.11x
Net Debt / EBITDA0.93x0.75x0.74x0.98x1.09x0.64x0.93x0.82x0.57x0.84x
Interest Coverage13.25x16.85x17.84x19.51x19.55x29.59x29.77x25.01x25.43x23.03x
Total Equity+771.4M858.9M862.6M898.1M998.7M1.14B1.13B1.32B1.49B1.45B
Equity Growth %-0.01%0.11%0%0.04%0.11%0.14%-0%0.17%0.13%-0.02%
Book Value per Share5.726.406.526.897.788.879.0510.6912.1512.07
Total Shareholders' Equity767.4M854.5M857.8M892.7M992.9M1.14B1.13B1.32B1.49B1.45B
Common Stock758.2M758.2M758.2M758.2M758.2M758.2M758.2M758.2M758.2M758.2M
Retained Earnings905.1M1.04B1.12B1.28B1.43B1.61B1.83B2.09B2.38B2.61B
Treasury Stock-707M-808M-898.8M-981.2M-1.03B-1.13B-1.28B-1.38B-1.47B-1.77B
Accumulated OCI-205.6M-157M-149.8M-192.9M-184M-118.2M-205.6M-172.5M-198.9M-180.7M
Minority Interest4M4.4M4.8M5.4M5.8M00000

Cash Flow

Jul 2016Jul 2017Jul 2018Jul 2019Jul 2020Jul 2021Jul 2022Jul 2023Jul 2024Jul 2025
Cash from Operations+286.1M310.3M262.9M345.8M387M401.9M252.8M544.5M492.5M418.8M
Operating CF Margin %0.13%0.13%0.1%0.12%0.15%0.14%0.08%0.16%0.14%0.11%
Operating CF Growth %0.34%0.08%-0.15%0.32%0.12%0.04%-0.37%1.15%-0.1%-0.15%
Net Income190.8M232.8M180.3M267.2M257M286.9M332.8M358.8M414M367M
Depreciation & Amortization74.9M75.2M76.7M81.1M87.6M95.3M93.8M92.3M98.4M99.5M
Stock-Based Compensation7.3M9.1M16.7M15M15.2M14.2M20.4M20.4M22M24M
Deferred Taxes-3.3M-10.6M7M10.2M2.7M-5.9M-1.4M-15.3M-24.3M-24M
Other Non-Cash Items8.7M-300K-30.3M-8.8M21.2M17.5M10.9M6.3M-1M52.5M
Working Capital Changes7.7M4.1M12.5M-18.9M3.3M-6.1M-203.7M82M-16.6M-100.2M
Change in Receivables8.5M-31.8M-41.7M1.4M77.1M-92.7M-100.8M30.1M-39.4M-21.4M
Change in Inventory29.1M-42.4M-43.8M-5.5M11.9M-56.3M-147.8M99.8M-65.6M-32.2M
Change in Payables-30.7M65.5M6.5M-3.1M-74M151.8M51.1M-39M80.3M-5.5M
Cash from Investing+-55.6M-95.7M-95.4M-246.4M-128.9M-58.3M-154M-327.3M-86.9M-150.4M
Capital Expenditures-72.9M-63.5M-95.9M-150.4M-122.4M-58.3M-85.1M-118.1M-85.6M-78.9M
CapEx % of Revenue0.03%0.03%0.04%0.05%0.05%0.02%0.03%0.03%0.02%0.02%
Acquisitions----------
Investments----------
Other Investing2.2M2.4M1.6M300K2M-700K400K400K700K-69.1M
Cash from Financing+-175M-157.7M-268.8M-123.3M-199.5M-363.3M-114.2M-222.2M-355.9M-321.7M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-91.2M-92.4M-94.7M-99.7M-106.4M-107.2M-110.1M-114.4M-122.8M-131.9M
Share Repurchases----------
Other Financing-20.9M4.9M-2.6M-30.5M-6.3M-18.6M11.1M-4.3M44.4M-11.2M
Net Change in Cash----------
Free Cash Flow+213.2M246.8M167M195.4M264.6M343.6M167.7M426.4M406.9M339.9M
FCF Margin %0.1%0.1%0.06%0.07%0.1%0.12%0.05%0.12%0.11%0.09%
FCF Growth %0.79%0.16%-0.32%0.17%0.35%0.3%-0.51%1.54%-0.05%-0.16%
FCF per Share1.581.841.261.502.062.681.343.453.322.82
FCF Conversion (FCF/Net Income)1.50x1.33x1.46x1.29x1.51x1.40x0.76x1.52x1.19x1.14x
Interest Paid19.7M19.9M21.9M19.1M17.1M10.9M12.2M20.9M23.4M22.2M
Taxes Paid67.8M88M82.6M99.3M90.7M105.9M102.4M140.9M147.8M176.2M

Key Ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)24.56%28.56%20.95%30.35%27.1%26.87%29.32%29.24%29.47%24.94%
Return on Invested Capital (ROIC)18.14%21.83%24.12%22.76%18.09%19.87%21.64%21.05%22.4%21.67%
Gross Margin34%34.7%34.21%33.33%33.76%34.05%32.28%33.83%35.54%34.85%
Net Margin8.59%9.81%6.59%9.39%9.95%10.05%10.06%10.46%11.54%9.94%
Debt / Equity0.74x0.71x0.63x0.71x0.70x0.46x0.61x0.50x0.40x0.50x
Interest Coverage13.25x16.85x17.84x19.51x19.55x29.59x29.77x25.01x25.43x23.03x
FCF Conversion1.50x1.33x1.46x1.29x1.51x1.40x0.76x1.52x1.19x1.14x
Revenue Growth-6.36%6.83%15.27%4.05%-9.25%10.54%15.86%3.76%4.53%2.92%

Revenue by Segment

2016201720182019202020212022202320242025
Mobile Solutions---------2.29B
Mobile Solutions Growth----------
Industrial Solutions---------1.1B
Industrial Solutions Growth----------
Life Sciences------279.1M241.3M269M295.5M
Life Sciences Growth--------13.54%11.48%9.85%
Engine Products-----1.96B2.16B2.17B2.25B-
Engine Products Growth------10.46%0.57%3.49%-
Industrial Products-162.5M---896.2M901M1.01B1.07B-
Industrial Products Growth------0.54%12.62%5.10%-
Industrial Products----------
Industrial Products Growth----------
Royalty--7M-6.8M-----
Royalty Growth----------
Shipping and Handling---76.7M------
Shipping and Handling Growth----------
Engine Products-110.7M--------
Engine Products Growth----------

Revenue by Geography

2016201720182019202020212022202320242025
United States And Canada-----1.08B1.34B1.46B1.58B1.63B
United States And Canada Growth------23.30%9.57%8.08%3.11%
EMEA----760.2M865.7M963.6M1.01B1.01B1.03B
EMEA Growth-----13.88%11.31%4.59%0.51%1.41%
Asia Pacific449.9M500.5M599.2M-553.2M649.2M669M608.8M601.5M635.7M
Asia Pacific Growth-11.25%19.72%--17.35%3.05%-9.00%-1.20%5.69%
Latin America--222.7M-208.5M254.8M337.2M349.5M388.8M395.7M
Latin America Growth-----22.21%32.34%3.65%11.24%1.77%
UNITED STATES---1.19B1.06B-----
UNITED STATES Growth-----11.13%-----
Europe632.7M638.1M791.5M-------
Europe Growth-0.85%24.04%-------
Other200.4M243.2M--------
Other Growth-21.36%--------

Frequently Asked Questions

Valuation & Price

Donaldson Company, Inc. (DCI) has a price-to-earnings (P/E) ratio of 33.0x. This suggests investors expect higher future growth.

Growth & Financials

Donaldson Company, Inc. (DCI) reported $3.73B in revenue for fiscal year 2025. This represents a 49% increase from $2.49B in 2012.

Donaldson Company, Inc. (DCI) grew revenue by 2.9% over the past year. Growth has been modest.

Yes, Donaldson Company, Inc. (DCI) is profitable, generating $381.9M in net income for fiscal year 2025 (9.9% net margin).

Dividend & Returns

Yes, Donaldson Company, Inc. (DCI) pays a dividend with a yield of 1.09%. This makes it attractive for income-focused investors.

Donaldson Company, Inc. (DCI) has a return on equity (ROE) of 24.9%. This is excellent, indicating efficient use of shareholder capital.

Donaldson Company, Inc. (DCI) generated $403.2M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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