Revenue growth momentum has rebounded to 11.8% in 2026Q2, supporting a significant expansion in gross margins to 50.2% compared to the sub-40% levels observed throughout 2024.
| Metric | TTM | Sep'25 | Sep'24 | Sep'23 | Sep'22 | Sep'21 | Sep'20 | Sep'19 | Sep'18 | Sep'17 | Sep'16 | Sep'15 | Sep'14 | Sep'13 | Sep'12 | Sep'11 | Sep'10 | Sep'09 | Sep'08 | Sep'07 | Sep'06 | Sep'05 | Sep'04 | Sep'03 | Sep'02 | Sep'01 | Sep'00 | Sep'99 | Sep'98 | Sep'97 | Sep'96 |
|---|
| Sales/Revenue | 8.8B | 8.34B | 8.26B | 9.06B | 7.76B | 7B | 6.33B | 6.69B | 6.66B | 6.31B | 5.88B | 6.32B | 6.63B | 6.35B | 6.26B | 6B | 4.86B | 4.33B | 5.7B | 5B | 4.56B | 5B | 4.41B | 3.99B | 3.91B | 4.29B | 4.66B | 7.04B | 6.75B | 6.37B | 5.78B |
| Revenue Growth % | 10.46% | 0.97% | -8.79% | 16.72% | 10.9% | 10.53% | -5.43% | 0.45% | 5.59% | 7.24% | -6.83% | -4.67% | 4.34% | 1.43% | 4.34% | 23.48% | 12.34% | -24.09% | 13.87% | 9.82% | -8.93% | 13.42% | 10.49% | 2.13% | -8.77% | -8.07% | -33.82% | 4.31% | 6% | 10.13% | -2.58% |
| Cost of Goods Sold | 4.18B | 4.33B | 4.58B | 5.34B | 4.66B | 4.1B | 3.39B | 3.43B | 3.39B | 3.33B | 3.11B | 3.34B | 3.58B | 3.52B | 3.49B | 3.35B | 2.72B | 2.57B | 3.16B | 2.74B | 2.51B | 2.97B | 2.73B | 2.68B | 2.67B | 3.04B | 3.11B | 4.57B | 4.45B | 4.16B | 3.8B |
| COGS % of Revenue | - | 51.86% | 55.48% | 58.96% | 60.03% | 58.59% | 53.53% | 51.3% | 50.92% | 52.83% | 52.86% | 52.91% | 54.03% | 55.47% | 55.67% | 55.87% | 55.96% | 59.39% | 55.47% | 54.79% | 55.04% | 59.37% | 61.81% | 67.15% | 68.41% | 70.88% | 66.66% | 64.89% | 65.83% | 65.35% | 65.66% |
| Gross Profit | 4.63B | 4.02B | 3.68B | 3.72B | 3.1B | 2.9B | 2.94B | 3.26B | 3.27B | 2.98B | 2.77B | 2.97B | 3.05B | 2.83B | 2.78B | 2.65B | 2.14B | 1.76B | 2.54B | 2.26B | 2.05B | 2.03B | 1.68B | 1.31B | 1.24B | 1.25B | 1.55B | 2.47B | 2.31B | 2.21B | 1.99B |
| Gross Margin % | 52.53% | 48.14% | 44.52% | 41.04% | 39.97% | 41.41% | 46.47% | 48.7% | 49.08% | 47.17% | 47.14% | 47.09% | 45.97% | 44.53% | 44.33% | 44.13% | 44.04% | 40.61% | 44.53% | 45.21% | 44.96% | 40.63% | 38.19% | 32.85% | 31.59% | 29.12% | 33.34% | 35.11% | 34.17% | 34.65% | 34.34% |
| Gross Profit Growth % | - | 9.17% | -1.04% | 19.83% | 7.05% | -1.5% | -9.77% | -0.31% | 9.87% | 7.31% | -6.73% | -2.34% | 7.69% | 1.9% | 4.83% | 23.71% | 21.84% | -30.78% | 12.17% | 10.43% | 0.78% | 20.67% | 28.46% | 6.18% | -1.04% | -19.69% | -37.16% | 7.2% | 4.53% | 11.13% | -3.26% |
| Operating Expenses | 2.95B | 2.59B | 2.41B | 2.02B | 1.77B | 2.17B | 1.85B | 1.92B | 1.96B | 1.94B | 1.79B | 1.81B | 1.86B | 1.8B | 1.75B | 1.72B | 1.52B | 1.36B | 1.63B | 1.4B | 1.29B | 1.26B | 1.18B | 967.7M | 953M | 1.04B | 1.04B | 1.61B | 1.72B | 1.55B | 1.45B |
| OpEx % of Revenue | - | 31.08% | 29.22% | 22.34% | 22.77% | 30.98% | 29.22% | 28.63% | 29.43% | 30.73% | 30.34% | 28.71% | 28.08% | 28.32% | 27.97% | 28.59% | 31.33% | 31.41% | 28.55% | 27.98% | 28.3% | 25.17% | 26.76% | 24.24% | 24.38% | 24.29% | 22.31% | 22.82% | 25.4% | 24.35% | 25% |
| Selling, General & Admin | 1.92B | 1.91B | 1.94B | 2.02B | 1.77B | 1.75B | 1.48B | 1.54B | 1.59B | 1.59B | 1.47B | 1.51B | 1.57B | 1.54B | 1.49B | 1.46B | 1.32B | 1.19B | 1.44B | 1.26B | 1.14B | 1.12B | 1.06B | 967.7M | 953M | 1.04B | 1.04B | 1.27B | 1.31B | 1.24B | 1.15B |
| SG&A % of Revenue | - | 22.94% | 23.44% | 22.34% | 22.77% | 24.94% | 23.35% | 22.96% | 23.85% | 25.21% | 24.92% | 23.85% | 23.7% | 24.21% | 23.83% | 24.35% | 27.23% | 27.48% | 25.19% | 25.12% | 25.04% | 22.4% | 24% | 24.24% | 24.38% | 24.29% | 22.31% | 18.03% | 19.34% | 19.39% | 19.8% |
| Research & Development | 1.03B | 679M | 477.3M | 529.5M | 440.9M | 422.5M | 371.5M | 378.9M | 371.8M | 348.2M | 319.3M | 307.3M | 290.1M | 260.7M | 259.1M | 254.4M | 198.9M | 170M | 191.3M | 143.1M | 148.5M | 138.6M | 121.7M | 0 | 0 | 0 | 0 | 0 | 103M | 23M | 0 |
| R&D % of Revenue | - | 8.14% | 5.78% | 5.85% | 5.68% | 6.04% | 5.87% | 5.66% | 5.58% | 5.52% | 5.43% | 4.87% | 4.38% | 4.11% | 4.14% | 4.24% | 4.09% | 3.93% | 3.36% | 2.86% | 3.26% | 2.77% | 2.76% | - | - | - | - | - | 1.53% | 0.36% | - |
| Other Operating Expenses | 0 | 0 | 0 | -529.5M | -440.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 337M | 306M | 293M | 301M |
| Operating Income | 1.68B | 1.42B | 1.26B | 1.69B | 1.34B | 729.9M | 1.09B | 1.34B | 1.31B | 1.04B | 988.1M | 1.16B | 1.19B | 1.03B | 1.02B | 932M | 617.9M | 397.9M | 910.6M | 862.2M | 759M | 773.3M | 504.2M | 345M | 282M | 251M | 947M | 866M | 592M | 830M | 881M |
| Operating Margin % | 19.08% | 17.06% | 15.3% | 18.69% | 17.21% | 10.43% | 17.25% | 20.08% | 19.65% | 16.44% | 16.79% | 18.37% | 17.89% | 16.21% | 16.37% | 15.53% | 12.72% | 9.2% | 15.98% | 17.23% | 16.66% | 15.46% | 11.43% | 8.64% | 7.21% | 5.86% | 20.32% | 12.3% | 8.77% | 13.03% | 15.23% |
| Operating Income Growth % | - | 12.54% | -25.33% | 26.81% | 82.94% | -33.15% | -18.77% | 2.63% | 26.23% | 5% | -14.86% | -2.1% | 15.13% | 0.49% | 9.94% | 50.83% | 55.29% | -56.3% | 5.61% | 13.6% | -1.85% | 53.37% | 46.14% | 22.34% | 12.35% | -73.5% | 9.35% | 46.28% | -28.67% | -5.79% | -36.89% |
| EBITDA | 1.92B | 1.75B | 1.58B | 1.94B | 1.57B | 907.8M | 1.26B | 1.5B | 1.47B | 1.21B | 1.16B | 1.32B | 1.34B | 1.17B | 1.16B | 1.06B | 745.2M | 532M | 1.05B | 980.1M | 876.4M | 944.5M | 690.9M | 543M | 488M | 523M | 1.32B | 1.2B | 898M | 1.31B | 1.42B |
| EBITDA Margin % | 21.75% | 20.95% | 19.15% | 21.46% | 20.29% | 12.97% | 19.97% | 22.35% | 22.12% | 19.12% | 19.72% | 20.95% | 20.19% | 18.5% | 18.58% | 17.72% | 15.34% | 12.3% | 18.38% | 19.59% | 19.23% | 18.88% | 15.66% | 13.6% | 12.48% | 12.21% | 28.23% | 17.08% | 13.3% | 20.63% | 24.6% |
| EBITDA Growth % | 20.98% | 10.51% | -18.62% | 23.47% | 73.41% | -28.21% | -15.49% | 1.5% | 22.2% | 3.97% | -12.3% | -1.11% | 13.88% | 1% | 9.4% | 42.69% | 40.08% | -49.19% | 6.84% | 11.83% | -7.21% | 36.71% | 27.24% | 11.27% | -6.69% | -60.26% | 9.39% | 33.96% | -31.66% | -7.66% | -27.66% |
| D&A (Non-Cash Add-back) | 244M | 325M | 317.4M | 250.4M | 238.9M | 177.9M | 172.7M | 152.2M | 164.6M | 168.9M | 172.2M | 162.5M | 152.5M | 145.2M | 138.6M | 131.3M | 127.3M | 134.1M | 136.5M | 117.9M | 117.4M | 171.2M | 186.7M | 198M | 206M | 272M | 369M | 337M | 306M | 484M | 542M |
| EBIT | 1.31B | 1.07B | 1.25B | 1.74B | 1.2B | 1.15B | 1.24B | 998M | 1.4B | 1.09B | 1.03B | 1.2B | 1.19B | 1.04B | 1.03B | 927.1M | 604.7M | 334.8M | 877.1M | 852M | 792.4M | 782.8M | 476.6M | 343.6M | 282M | 207M | 514M | 866M | 592M | 656M | 540M |
| Net Interest Income | -135M | -143M | -135.4M | -122.1M | -115.2M | -90.7M | -95.9M | -85.9M | -48.6M | -32.5M | -72.7M | -58.4M | -49.8M | -51.1M | -52.3M | -53.5M | -55.5M | -51.3M | -40.1M | -33.8M | -48.7M | -35.2M | -36.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 10M | 13M | 15.6M | 9.7M | 4.4M | 1.6M | 5.5M | 11.1M | 24.4M | 19.6M | 12.7M | 10.7M | 9.5M | 9.8M | 7.8M | 6M | 5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 145M | 156M | 151M | 131.8M | 119.6M | 92.3M | 101.4M | 97M | 73M | 52.1M | 85.4M | 69.1M | 59.3M | 60.9M | 60.1M | 59.5M | 60.5M | 60.9M | 68.2M | 63.4M | 56.6M | 45.8M | 41.7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -493M | -506M | -165.3M | -84.8M | -261.7M | 796.3M | 44.3M | -443.1M | 21.2M | -100K | -45M | -33M | -51.2M | -48.7M | -58.7M | -64.4M | -73.7M | -124M | -101.7M | -73.6M | -23.2M | -36.3M | -69.3M | -47.4M | -49M | -39M | -7M | 24M | -567M | -95M | -8M |
| Pretax Income | 1.19B | 917M | 1.1B | 1.61B | 1.07B | 1.53B | 1.14B | 901M | 1.33B | 1.04B | 943.1M | 1.13B | 1.13B | 980.9M | 965.9M | 867.6M | 544.2M | 273.9M | 808.9M | 788.6M | 891.4M | 737M | 438.1M | 299M | 233M | 168M | 943M | 890M | 25M | 923M | 896M |
| Pretax Margin % | 13.48% | 10.99% | 13.3% | 17.76% | 13.83% | 21.81% | 17.95% | 13.46% | 19.97% | 16.44% | 16.03% | 17.85% | 17.12% | 15.45% | 15.43% | 14.46% | 11.2% | 6.33% | 14.2% | 15.76% | 19.56% | 14.73% | 9.93% | 7.49% | 5.96% | 3.92% | 20.23% | 12.64% | 0.37% | 14.49% | 15.49% |
| Income Tax | 211M | 168M | 151.8M | 330.5M | 154.5M | 181.9M | 112.9M | 205.2M | 795.3M | 211.7M | 213.4M | 299.9M | 307.4M | 224.6M | 228.9M | 170.5M | 103.8M | 56M | 231.3M | 219.3M | 263.3M | 218.6M | 84M | 17M | 7M | 43M | 307M | 308M | 134M | 337M | 341M |
| Effective Tax Rate % | 17.78% | 18.32% | 13.81% | 20.55% | 14.39% | 11.92% | 9.94% | 22.77% | 59.76% | 20.41% | 22.63% | 26.6% | 27.1% | 22.9% | 23.7% | 19.65% | 19.07% | 20.45% | 28.59% | 27.81% | 29.54% | 29.66% | 19.17% | 5.69% | 3% | 25.6% | 32.56% | 34.61% | 536% | 36.51% | 38.06% |
| Net Income | 1.09B | 869M | 952.5M | 1.39B | 932.2M | 1.36B | 1.02B | 695.8M | 535.5M | 825.7M | 729.7M | 827.6M | 826.8M | 756.3M | 737M | 697.8M | 464.3M | 220.7M | 577.6M | 1.49B | 607M | 540M | 414.9M | 286M | 121M | 305M | 636M | 562M | -427M | 644M | 726M |
| Net Margin % | 12.36% | 10.42% | 11.53% | 15.32% | 12.01% | 19.41% | 16.17% | 10.39% | 8.04% | 13.08% | 12.4% | 13.1% | 12.48% | 11.91% | 11.77% | 11.63% | 9.56% | 5.1% | 10.14% | 29.73% | 13.32% | 10.79% | 9.41% | 7.16% | 3.1% | 7.12% | 13.65% | 7.98% | -6.32% | 10.11% | 12.55% |
| Net Income Growth % | 19.94% | -8.77% | -31.35% | 48.83% | -31.36% | 32.7% | 47.08% | 29.93% | -35.15% | 13.16% | -11.83% | 0.1% | 9.32% | 2.62% | 5.62% | 50.29% | 110.38% | -61.79% | -61.18% | 145.11% | 12.41% | 30.15% | 45.07% | 136.36% | -60.33% | -52.04% | 13.17% | 231.62% | -166.3% | -11.29% | -2.16% |
| Net Income (Continuing) | 976M | 749M | 947.3M | 1.28B | 919.1M | 1.34B | 1.02B | 695.8M | 535.5M | 825.7M | 729.7M | 827.6M | 826.8M | 756.3M | 737M | 697.1M | 440.4M | 217.9M | 577.6M | 569.3M | 529.3M | 447.7M | 354.1M | 281.4M | 226M | 125M | 344M | 582M | -109M | 437M | 364M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.8M | 0 | 0 | 0 | 21.6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 54M | 57M | 176.9M | 181.8M | 291.1M | 304.5M | 319M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 9.66 | 7.67 | 8.28 | 11.95 | 7.96 | 11.58 | 8.77 | 5.83 | 4.22 | 6.35 | 5.56 | 6.09 | 5.91 | 5.36 | 5.13 | 4.80 | 3.22 | 1.55 | 3.90 | 9.23 | 3.37 | 2.39 | 1.65 | 1.51 | 0.64 | 0.65 | 1.86 | 1.47 | -2.16 | 2.97 | 3.28 |
| EPS Growth % | 21.16% | -7.37% | -30.71% | 50.13% | -31.26% | 32.04% | 50.43% | 38.15% | -33.54% | 14.21% | -8.7% | 3.05% | 10.26% | 4.48% | 6.88% | 49.07% | 107.74% | -60.26% | -57.75% | 173.89% | 41% | 44.85% | 9.27% | 135.94% | -1.54% | -65.05% | 26.53% | 168.06% | -172.73% | -9.45% | -4.09% |
| EPS (Basic) | - | 7.69 | 8.32 | 12.03 | 8.02 | 11.69 | 8.83 | 5.88 | 4.42 | 6.43 | 5.68 | 6.25 | 6.05 | 5.44 | 5.27 | 4.92 | 3.27 | 1.55 | 3.94 | 9.37 | 3.44 | 2.45 | 1.71 | 1.54 | 0.66 | 0.66 | 1.88 | 1.49 | -2.16 | 3.01 | 3.34 |
| Diluted Shares Outstanding | 112.6M | 113.1M | 114.5M | 115.6M | 116.7M | 117.1M | 116.6M | 119.3M | 126.9M | 129.9M | 131.1M | 135.7M | 139.7M | 140.9M | 143.4M | 145.2M | 144M | 142.2M | 148.2M | 161.2M | 179.9M | 225.94M | 191.7M | 190.1M | 188.8M | 185.1M | 191.3M | 192.89M | 197.9M | 216.84M | 221.34M |
| Basic Shares Outstanding | 112.1M | 112.7M | 114M | 114.8M | 115.9M | 116M | 115.8M | 118.3M | 121.1M | 128.4M | 128.5M | 132.4M | 136.7M | 138.9M | 139.8M | 141.9M | 141.79M | 141.6M | 146.5M | 158.7M | 176.6M | 220.41M | 186M | 185.4M | 184.9M | 182.6M | 188.9M | 190.19M | 197.9M | 213.95M | 217.37M |
| Dividend Payout Ratio | - | 68.01% | 59.95% | 39.09% | 55.72% | 36.6% | 46.2% | 66.08% | 82.32% | 47.32% | 51.83% | 42.3% | 38.76% | 36.53% | 33.57% | 30.24% | 37.39% | 74.54% | 29.47% | 12.41% | 26.24% | 26.43% | 29.53% | 42.66% | 100.83% | 55.74% | 30.19% | 34.52% | - | 38.51% | 34.85% |
Cyclical industrial demand sensitivity
As reported in recent financial statements, Rockwell Automation achieved an 11.8% year-over-year revenue growth rate in 2026Q2, marking a significant recovery from the contractionary periods observed throughout 2024 and early 2025, suggesting a potential stabilization in end-market demand and successful backlog conversion efforts.
The recent acceleration in top-line performance appears to signal that the destocking cycle within the distributor network may be concluding. Investors should monitor whether this growth is sustainable or if it reflects a temporary surge in project-based revenue recognition rather than a fundamental shift in organic demand.
Based on the provided income statement data, Rockwell's gross margin expanded to 50.2% in 2026Q2, a notable improvement from the sub-40% levels seen in 2024, which indicates the company's proprietary technology ecosystem may be successfully insulating it from broader industrial cost pressures.
This margin expansion suggests that the company is effectively leveraging its Allen-Bradley hardware base to drive higher-value software and service attachments. The ability to maintain such margins in a competitive industrial landscape implies strong pricing power, though it warrants further investigation into whether this is driven by product mix shifts or temporary supply chain efficiencies.
According to the latest quarterly figures, operating income reached $467 million in 2026Q2, representing a 20.9% operating margin, which demonstrates that the company is successfully scaling its fixed cost base as revenue growth accelerates compared to the more constrained operating environments of previous fiscal years.
The improvement in operating margins suggests that management is maintaining disciplined control over SG&A expenses even as they invest in R&D to support the software transition. This operating leverage is critical for long-term valuation, as it indicates the business model can generate incremental profitability without a proportional increase in overhead.
Analysis of the income statement reveals that net income has experienced significant quarterly volatility, with EPS jumping to 3.10 in 2026Q2 from 1.23 in 2025Q4, largely due to fluctuations in R&D spending and non-operating items that complicate the assessment of normalized earnings power.
The inconsistent reporting of R&D expenses in several quarters suggests that accounting for innovation investments may be lumpy or subject to specific project-based capitalization policies. Investors should look past the headline EPS volatility to determine if the underlying core operating performance is truly improving or if it is being masked by accounting timing differences.
While recent data shows a robust 50.2% gross margin, historical trends from 2024 and 2025 indicate that Rockwell's profitability is susceptible to sharp compression, raising concerns that the current margin profile may be an outlier rather than a permanent structural improvement in the business model.
Short-term margin expansion may be masking underlying risks related to the transition from hardware-centric sales to recurring software revenue. If the current growth is driven by cyclical replacement cycles rather than structural software adoption, the company may face significant margin headwinds should industrial production indices soften.
Quick answers to the most common questions about buying ROK stock.
For fiscal year 2025, Rockwell Automation, Inc. (ROK) reported total revenue of $8.34B. This represents a 44.2% increase compared to $5.78B in 1996.
Rockwell Automation, Inc. (ROK) is profitable, generating $869.0M in net income for the fiscal year ending 2025 with a net profit margin of 10.4%.
Rockwell Automation, Inc. (ROK) reported an operating income of $1.42B, resulting in an operating profit margin of 17.1%. This margin reflects the operational efficiency of the business before interest and taxes.
Rockwell Automation, Inc. (ROK) generated $4.02B in gross profit for the year, representing a gross profit margin of 48.1%. This demonstrates the company's core pricing power and production efficiency.