Franklin Electric Co., Inc. (FELE) Income Statement

30Y historyFree accessUpdated daily

Revenue reached $633.6M in 2026 Q3 with gross margin of 35.4% and net margin of 9.6%, though diluted EPS swung from $0.37 in 2025 Q3 to $1.46 in 2026 Q2, suggesting discrete items may be distorting reported earnings.

Annual statement

FELE Income Statement

Franklin Electric Co., Inc. (FELE) annual income statement — 30-year revenue, gross profit & net income history

Annual Quarterly

Metric	TTM	Dec'25	Dec'24	Dec'23	Dec'22	Dec'21	Dec'20	Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08	Dec'07	Dec'06	Dec'05	Dec'04	Dec'03	Dec'02	Dec'01	Dec'00	Dec'99	Dec'98	Dec'97	Dec'96

Sales/Revenue	2.26B	2.13B	2.02B	2.07B	2.04B	1.66B	1.25B	1.31B	1.3B	1.12B	949.86M	924.92M	1.05B	965.46M	891.35M	821.08M	713.79M	625.99M	745.63M	602.02M	557.95M	403.41M	370.07M	359.5M	354.87M	322.91M	325.73M	293.2M	272.5M	303.3M	300.7M
Revenue Growth %	7.28%	5.44%	-2.12%	1.05%	22.98%	33.23%	-5.12%	1.27%	15.4%	18.43%	2.7%	-11.73%	8.53%	8.32%	8.56%	15.03%	14.03%	-16.05%	23.85%	7.9%	38.31%	9.01%	2.94%	1.3%	9.9%	-0.87%	11.1%	7.6%	-10.15%	0.86%	8.79%
Cost of Goods Sold	1.46B	1.38B	1.3B	1.37B	1.35B	1.09B	814.19M	886.48M	865.76M	747.93M	618.45M	627.32M	703.37M	633.95M	589.68M	548.77M	483.49M	438.15M	518.7M	429.2M	366.39M	260.59M	243.88M	248.51M	249.94M	224.81M	229.71M	201.6M	185.1M	210.2M	213.2M
COGS % of Revenue	-	64.53%	64.51%	66.25%	66.17%	65.33%	65.27%	67.43%	66.69%	66.49%	65.11%	67.82%	67.13%	65.66%	66.16%	66.84%	67.74%	69.99%	69.57%	71.29%	65.67%	64.6%	65.9%	69.13%	70.43%	69.62%	70.52%	68.76%	67.93%	69.3%	70.9%
Gross Profit	801.1M	755.92M	717.28M	697.01M	691.43M	576.09M	433.14M	428.1M	432.37M	376.98M	331.41M	297.61M	344.41M	331.51M	301.66M	272.31M	230.3M	187.84M	226.93M	172.82M	191.56M	142.82M	126.19M	111M	104.94M	98.1M	96.03M	91.6M	87.4M	93.1M	87.5M
Gross Margin %	35.39%	35.47%	35.49%	33.75%	33.83%	34.67%	34.73%	32.57%	33.31%	33.51%	34.89%	32.18%	32.87%	34.34%	33.84%	33.16%	32.26%	30.01%	30.43%	28.71%	34.33%	35.4%	34.1%	30.87%	29.57%	30.38%	29.48%	31.24%	32.07%	30.7%	29.1%
Gross Profit Growth %	-	5.39%	2.91%	0.81%	20.02%	33%	1.18%	-0.99%	14.69%	13.75%	11.36%	-13.59%	3.89%	9.9%	10.78%	18.24%	22.61%	-17.22%	31.31%	-9.78%	34.12%	13.18%	13.69%	5.78%	6.96%	2.16%	4.83%	4.81%	-6.12%	6.4%	17.92%
Operating Expenses	516.33M	483.93M	473.63M	434.57M	434.25M	386.9M	302.63M	300.97M	300.37M	269.75M	219.34M	207.25M	244.32M	207.73M	177.97M	178.91M	166.2M	139.82M	150.22M	123.65M	102.48M	72.72M	65.95M	59.11M	54.64M	52.75M	55.81M	49.4M	48.7M	56.7M	54.3M
OpEx % of Revenue	-	22.71%	23.43%	21.04%	21.25%	23.28%	24.26%	22.89%	23.14%	23.98%	23.09%	22.41%	23.32%	21.52%	19.97%	21.79%	23.28%	22.34%	20.15%	20.54%	18.37%	18.03%	17.82%	16.44%	15.4%	16.34%	17.13%	16.85%	17.87%	18.69%	18.06%
Selling, General & Admin	511.14M	463.93M	466.54M	433.88M	422.88M	386.48M	303.32M	301.65M	299.31M	266.25M	221.13M	204.05M	225.31M	203.91M	186.79M	177.32M	160.86M	133.63M	147.99M	119.75M	102.48M	70.8M	60.41M	59.11M	54.64M	47.52M	44.97M	41.9M	42M	49.1M	45.9M
SG&A % of Revenue	-	21.77%	23.08%	21.01%	20.69%	23.26%	24.32%	22.95%	23.06%	23.67%	23.28%	22.06%	21.5%	21.12%	20.96%	21.6%	22.54%	21.35%	19.85%	19.89%	18.37%	17.55%	16.32%	16.44%	15.4%	14.72%	13.8%	14.29%	15.41%	16.19%	15.26%
Research & Development	0	20M	21.5M	17.7M	16.7M	17.3M	21.7M	20.8M	22.1M	20.8M	21.5M	18.4M	19.3M	16.8M	9.9M	0	0	0	0	0	0	0	0	0	0	5.23M	0	0	0	0	0
R&D % of Revenue	-	0.94%	1.06%	0.86%	0.82%	1.04%	1.74%	1.58%	1.7%	1.85%	2.26%	1.99%	1.84%	1.74%	1.11%	-	-	-	-	-	-	-	-	-	-	1.62%	-	-	-	-	-
Other Operating Expenses	1.27M	0	-14.4M	-17.01M	-5.33M	-16.88M	-22.39M	-21.48M	-21.03M	-17.29M	-23.3M	-15.2M	-289K	-12.98M	0	1.59M	5.33M	6.2M	2.23M	3.9M	0	1.92M	5.54M	0	0	0	10.84M	7.5M	6.7M	7.6M	8.4M
Operating Income	284.77M	271.99M	243.65M	262.44M	257.19M	189.19M	130.51M	127.13M	131.99M	107.23M	112.07M	90.36M	100.09M	123.78M	114.88M	93.4M	64M	48.02M	76.71M	49.17M	89.08M	70.1M	60.24M	51.89M	50.3M	45.35M	40.22M	42.2M	37.9M	36.4M	33.2M
Operating Margin %	12.58%	12.76%	12.05%	12.71%	12.58%	11.38%	10.46%	9.67%	10.17%	9.53%	11.8%	9.77%	9.55%	12.82%	12.89%	11.38%	8.97%	7.67%	10.29%	8.17%	15.97%	17.38%	16.28%	14.43%	14.17%	14.04%	12.35%	14.39%	13.91%	12%	11.04%
Operating Income Growth %	-	11.64%	-7.16%	2.04%	35.94%	44.96%	2.66%	-3.68%	23.1%	-4.32%	24.02%	-9.72%	-19.14%	7.75%	23%	45.94%	33.29%	-37.41%	56%	-44.8%	27.07%	16.37%	16.1%	3.17%	10.91%	12.76%	-4.69%	11.35%	4.12%	9.64%	34.96%
EBITDA	354.5M	334.87M	299.72M	314.7M	307.56M	233.76M	167M	164.11M	170.6M	145.73M	147.6M	125.84M	137.3M	155.14M	143.21M	118.69M	88.04M	73.4M	100.87M	69.53M	107.07M	85.07M	75.39M	65.64M	63.18M	58.01M	51.06M	49.7M	44.6M	44M	41.6M
EBITDA Margin %	15.66%	15.71%	14.83%	15.24%	15.05%	14.07%	13.39%	12.48%	13.14%	12.96%	15.54%	13.61%	13.1%	16.07%	16.07%	14.46%	12.33%	11.73%	13.53%	11.55%	19.19%	21.09%	20.37%	18.26%	17.8%	17.96%	15.67%	16.95%	16.37%	14.51%	13.83%
EBITDA Growth %	3.86%	11.73%	-4.76%	2.32%	31.57%	39.98%	1.76%	-3.8%	17.06%	-1.27%	17.3%	-8.35%	-11.5%	8.33%	20.66%	34.82%	19.94%	-27.24%	45.07%	-35.06%	25.85%	12.85%	14.85%	3.9%	8.91%	13.61%	2.73%	11.43%	1.36%	5.77%	24.18%
D&A (Non-Cash Add-back)	69.73M	62.88M	56.07M	52.26M	50.37M	44.57M	36.49M	36.98M	38.6M	38.51M	35.53M	35.48M	37.21M	31.36M	28.34M	25.3M	24.04M	25.39M	24.16M	20.36M	17.99M	14.97M	15.14M	13.75M	12.88M	12.66M	10.84M	7.5M	6.7M	7.6M	8.4M
EBIT	277.19M	205.29M	238.17M	254.01M	246.75M	194.9M	128.32M	125.08M	130.25M	114.91M	112.84M	96.36M	100.44M	122.15M	126.2M	97.64M	64.67M	48.44M	78.56M	53.07M	89.08M	72.02M	65.78M	51.89M	50.3M	50.58M	40.22M	42.2M	37.9M	36.4M	33.2M
Net Interest Income	-13.06M	-10.64M	-6.32M	-11.79M	-11.53M	-5.2M	-4.63M	-8.24M	-9.84M	-10.32M	-8.73M	-10.04M	-10.73M	-10.6M	-10.21M	-10.5M	-9.69M	-9.55M	-10.97M	0	0	0	0	0	0	0	0	0	0	0	0
Interest Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Expense	13.06M	10.64M	6.32M	11.79M	11.53M	5.2M	4.63M	8.24M	9.84M	10.32M	8.73M	10.04M	10.73M	10.6M	10.21M	10.5M	9.69M	9.55M	10.97M	0	0	0	0	0	0	0	0	0	0	0	0
Other Income/Expense	-20.64M	-77.34M	-11.8M	-20.22M	-21.96M	513K	-6.81M	-10.3M	-11.59M	-2.64M	-7.96M	-4.04M	-10.38M	-12.23M	1.11M	-6.26M	-9.02M	-9.12M	-9.12M	-5.06M	-1.65M	647K	-748K	-563K	179K	-1.96M	-4.31M	200K	2.1M	4.1M	100K
Pretax Income	264.13M	194.65M	231.85M	242.22M	235.23M	189.71M	123.7M	116.83M	120.41M	104.59M	104.11M	86.32M	89.7M	111.55M	115.99M	87.14M	54.98M	38.89M	67.04M	44.12M	87.43M	71.09M	59.03M	51.33M	50.48M	43.38M	35.91M	42.4M	40M	40.5M	33.3M
Pretax Margin %	11.67%	9.13%	11.47%	11.73%	11.51%	11.42%	9.92%	8.89%	9.28%	9.3%	10.96%	9.33%	8.56%	11.55%	13.01%	10.61%	7.7%	6.21%	8.99%	7.33%	15.67%	17.62%	15.95%	14.28%	14.22%	13.44%	11.02%	14.46%	14.68%	13.35%	11.07%
Income Tax	62.73M	45.96M	50.24M	47.49M	46.42M	34.73M	22.54M	20.84M	14.89M	25.99M	24.8M	12.63M	18.85M	28.85M	32.25M	23.41M	15.06M	12.17M	22.93M	15.43M	30.67M	25.08M	20.95M	16.85M	18.27M	16.23M	13.68M	15.6M	15.2M	15M	11.8M
Effective Tax Rate %	23.75%	23.61%	21.67%	19.61%	19.73%	18.31%	18.22%	17.83%	12.37%	24.85%	23.82%	14.63%	21.01%	25.86%	27.8%	26.87%	27.39%	31.29%	34.2%	34.98%	35.08%	35.28%	35.49%	32.82%	36.2%	37.42%	38.1%	36.79%	38%	37.04%	35.44%
Net Income	199.97M	147.09M	180.31M	193.27M	187.33M	153.86M	100.46M	95.48M	105.88M	78.18M	78.75M	72.94M	69.81M	81.96M	82.86M	63.1M	38.91M	25.99M	44.11M	28.68M	57M	46.01M	38.08M	34.48M	32.2M	27.15M	22.23M	26.8M	24.8M	25.5M	21.5M
Net Margin %	8.83%	6.9%	8.92%	9.36%	9.17%	9.26%	8.05%	7.26%	8.16%	6.95%	8.29%	7.89%	6.66%	8.49%	9.3%	7.68%	5.45%	4.15%	5.92%	4.76%	10.22%	11.4%	10.29%	9.59%	9.07%	8.41%	6.82%	9.14%	9.1%	8.41%	7.15%
Net Income Growth %	41.33%	-18.42%	-6.71%	3.17%	21.75%	53.16%	5.21%	-9.82%	35.43%	-0.72%	7.95%	4.5%	-14.83%	-1.09%	31.32%	62.15%	49.75%	-41.09%	53.79%	-49.68%	23.88%	20.81%	10.45%	7.07%	18.62%	22.15%	-17.07%	8.06%	-2.75%	18.6%	38.71%
Net Income (Continuing)	201.4M	148.69M	181.61M	194.73M	188.81M	154.97M	101.16M	96M	105.52M	78.59M	79.31M	73.69M	70.85M	82.7M	0	63.72M	39.92M	26.72M	44.66M	28.68M	56.76M	45.8M	38.37M	34.48M	32.2M	27.15M	22.23M	26.8M	24.8M	25.5M	21.5M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	236K	213K	-285K	0	0	0	0	0	0	0	0
Minority Interest	1.88M	4.45M	3.73M	3.57M	2.9M	2.14M	2.12M	2.12M	1.96M	1.96M	1.64M	1.76M	2.14M	2.51M	7.84M	5.41M	9.35M	9.43M	0	0	0	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)	4.45	3.22	3.86	4.11	3.97	3.25	2.14	2.03	2.25	1.65	1.65	1.50	1.41	1.68	1.73	1.33	0.83	0.56	0.95	0.61	1.22	0.99	0.83	0.76	0.71	0.60	0.49	0.57	0.50	0.50	0.40
EPS Growth %	44.95%	-16.58%	-6.08%	3.53%	22.15%	51.87%	5.42%	-9.78%	36.36%	0%	10%	6.38%	-16.07%	-2.89%	30.08%	60.24%	48.21%	-41.05%	55.74%	-50%	23.23%	19.28%	9.21%	7.04%	18.33%	22.45%	-14.04%	14%	0%	25%	37.93%
EPS (Basic)	-	3.26	3.92	4.17	4.03	3.30	2.16	2.04	2.27	1.67	1.67	1.52	1.43	1.70	1.76	1.36	0.84	0.56	0.96	0.62	1.25	1.03	0.87	0.80	0.75	0.62	0.51	0.61	0.54	0.54	0.43
Diluted Shares Outstanding	44.92M	45.5M	46.5M	46.9M	47M	47M	46.7M	46.8M	47.06M	47M	47.15M	47.99M	48.82M	48.21M	47.8M	47.62M	47.03M	46.58M	46.47M	47.02M	46.72M	46.47M	46.16M	45.22M	45.52M	45.44M	45.48M	46.61M	49.35M	50.87M	53.42M
Basic Shares Outstanding	44.27M	45M	45.9M	46.2M	46.3M	46.4M	46.2M	46.4M	46.6M	46.81M	46.2M	47.1M	48.37M	48.07M	47.08M	46.57M	46.35M	46.15M	45.93M	46.26M	45.6M	44.45M	44.03M	43.24M	43.23M	43.53M	43.58M	44.02M	45.93M	47.11M	50.15M
Dividend Payout Ratio	-	33.99%	26%	21.59%	19.75%	21.71%	29.54%	28.98%	21.36%	25.95%	24.3%	25.95%	24.96%	18.66%	16.67%	20.43%	31.7%	45.76%	25.77%	37.77%	17.25%	18.36%	17.9%	17.24%	17.09%	18.87%	21.08%	15.67%	15.32%	13.33%	13.49%

Key Metrics

Growth RegimeMixed

ProfitabilityModerate

Balance SheetHealthy

Cash FlowStable

Top Statement Risk

Acquisition-dependent growth sustainability

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q3)

Revenue Re-Accelerated After Mid-Year Softness

Based on Franklin Electric's reported figures, revenue grew 6.0% year over year in the second quarter of 2026 after 8.9% growth in the third quarter, suggesting momentum has moderated from the 2025 pace but remains positive.

The reported quarterly series shows revenue contracting in early 2025 before rebounding through 2025 and into 2026, which points to a cyclical recovery rather than a structurally accelerating trend. The balance between organic and acquired growth in the latest quarter appears healthier than in prior periods, though the data provided does not isolate the organic contribution precisely. Investors should monitor whether growth can hold without continued reliance on acquisitions as the comparison base becomes more demanding.

Gross Margin Anchored Near Mid-Thirties

Gross margin has held within a 33.8% to 37.0% band across the reported quarters, with the 35.4% third-quarter 2026 print consistent with a stable mix between engineered products and lower-margin distribution.

The relative stability of gross margin across a period of volatile revenue suggests pricing and input cost pass-through have been managed reasonably well. The lower-margin distribution business appears to dilute consolidated gross margin, and a rising share of distribution revenue would likely pressure the blended figure over time. Analysts should model segment mix explicitly rather than assume the current band persists.

Operating Leverage Emerging Through 2026

Operating margin expanded from roughly 8.9% in the fourth quarter of 2024 to 15.0% in the second quarter of 2026, indicating overhead is scaling more slowly than gross profit in the recent period.

SG&A has risen in absolute dollars but at a slower pace than gross profit over recent quarters, which points to meaningful operating leverage. The improvement in operating margin is partly a function of revenue recovery rather than purely cost discipline, so the durability of this leverage depends on sustaining volume. The data does not show whether recent SG&A levels include one-time items, which warrants further investigation.

EPS Volatility Outpaces Operating Trend

Diluted EPS swung from $0.37 in the third quarter of 2025 to $1.46 in the second quarter of 2026, a range far wider than the operating margin movement over the same period, suggesting non-operating or discrete items affected reported earnings.

Net income in the third quarter of 2025 fell sharply despite operating income remaining close to the prior-year level, which implies a significant below-the-line charge or tax effect. Stock-based compensation remains modest relative to revenue, so it does not appear to explain the earnings volatility. Investors may find it useful to reconcile reported EPS to adjusted figures before drawing conclusions about underlying profitability.

Growth Dependence on Acquisitions Warrants Scrutiny

Based on reported figures, a meaningful portion of recent top-line growth appears inorganic, and the second-quarter 2026 beat may rest partly on acquired revenue rather than sustained demand in core water markets.

The bear case centers on whether reported growth reflects durable end-market demand or the accumulation of acquisitions that may carry integration risk and dilution to returns on invested capital. Rising exposure to lower-margin distribution could erode the margin profile that has supported earnings. Investors should monitor organic growth disclosure and return on acquired capital before assuming the current growth rate is repeatable.

FELE — Frequently Asked Questions

Quick answers to the most common questions about buying FELE stock.

What was Franklin Electric Co., Inc.'s (FELE) revenue in 2025?

For fiscal year 2025, Franklin Electric Co., Inc. (FELE) reported total revenue of $2.13B. This represents a 608.8% increase compared to $300.7M in 1996.

Is Franklin Electric Co., Inc. (FELE) profitable?

Franklin Electric Co., Inc. (FELE) is profitable, generating $147.1M in net income for the fiscal year ending 2025 with a net profit margin of 6.9%.

What is Franklin Electric Co., Inc.'s operating profit margin?

Franklin Electric Co., Inc. (FELE) reported an operating income of $272.0M, resulting in an operating profit margin of 12.8%. This margin reflects the operational efficiency of the business before interest and taxes.

What is Franklin Electric Co., Inc.'s gross profit and gross margin?

Franklin Electric Co., Inc. (FELE) generated $755.9M in gross profit for the year, representing a gross profit margin of 35.5%. This demonstrates the company's core pricing power and production efficiency.