Explain this page
Arphra AIPlain-English read on Donaldson Company, Inc.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Quality composite
ATop tier
A snapshot of the latest fiscal year’s margins, returns on capital, balance-sheet strength and efficiency, computed from the income statement, balance sheet and cash-flow rows. Source income / balance / cash_flow.
Profitability
Gross margin34.8%
Operating margin15.1%
Net margin9.9%
ROE25.2%
ROA12.3%
ROIC20.7%
Liquidity & leverage
Current ratio1.93×
Quick ratio1.25×
Debt / equity0.50×
Net debt / EBITDA0.89×
Interest coverage23×
Efficiency & per-share
Asset turnover1.24×
Inventory days78
Days sales out.65
FCF / share$2.82
Book value / share$12.07
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | $9.03B | $8.54B | — | — | — | — |
| Enterprise value | — | — | — | $9.4B | $9.09B | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | 2.62 | 2.46 | — | — | — | — |
| EV / FCF | — | — | — | 23.09 | 26.75 | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | +4.58% | +4.30% | — | — | — | — |
| Free cash flow yield | — | — | — | +4.51% | +3.98% | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +34.05% | +32.28% | +33.83% | +35.54% | +34.85% | +33.91% | +33.96% | +33.94% | +33.97% |
| Operating margin | +13.48% | +13.41% | +14.00% | +15.17% | +15.10% | +15.18% | +14.56% | +14.69% | +14.96% |
| EBITDA margin | +17.14% | +16.56% | +16.91% | +18.27% | +16.69% | +16.96% | +17.08% | +17.53% | +17.44% |
| EBIT margin | +13.81% | +13.71% | +14.22% | +15.52% | +13.99% | +14.90% | +14.45% | +14.70% | +14.66% |
| Pre-tax margin | +13.35% | +13.26% | +13.66% | +14.93% | +13.34% | +14.15% | +13.66% | +14.10% | +14.19% |
| Net margin | +10.05% | +10.06% | +10.46% | +11.54% | +9.94% | +10.41% | +10.47% | +10.35% | +10.47% |
| Cost structure | |||||||||
| Cost of revenue / sales | +65.95% | +67.72% | +66.17% | +64.46% | +65.15% | +65.31% | +66.40% | +65.39% | +67.04% |
| R&D intensity | +2.38% | +2.09% | +2.28% | +2.61% | +2.38% | +2.43% | +2.42% | +2.43% | +2.39% |
| SG&A intensity | +18.19% | +16.78% | +17.56% | +17.75% | +17.37% | +17.89% | +17.99% | +17.21% | +17.95% |
| Effective tax rate | +24.70% | +24.09% | +23.45% | +22.66% | +25.44% | +24.26% | +24.13% | +23.47% | +23.75% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +25.23% | +29.37% | +27.17% | +27.80% | +25.25% | +25.88% | +26.17% | +26.70% | +26.53% |
| Return on assets (ROA) | +11.95% | +12.80% | +12.95% | +14.21% | +12.33% | +12.71% | +12.73% | +12.72% | +12.57% |
| Return on capital (ROC) | +23.11% | +24.29% | +24.30% | +26.07% | +25.53% | +26.06% | +25.09% | +25.54% | +25.93% |
| Return on invested capital (ROIC) | +17.23% | +18.23% | +18.15% | +19.83% | +16.81% | +17.86% | +18.04% | +17.98% | +18.15% |
| Asset turnover | +118.90% | +127.16% | +123.83% | +123.06% | +123.97% | +122.16% | +121.55% | +122.96% | +120.04% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +10.05% | +10.06% | +10.46% | +11.54% | +9.94% | +10.41% | +10.47% | +10.35% | +10.47% |
| Asset turnover (× revenue / assets) | +118.90% | +127.16% | +123.83% | +123.06% | +123.97% | +122.16% | +121.55% | +122.96% | +120.04% |
| Equity multiplier (× assets / equity) | +211.08% | +229.47% | +209.78% | +195.71% | +204.83% | +203.53% | +205.63% | +209.85% | +211.00% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 1.19 | 1.27 | 1.24 | 1.23 | 1.24 | 1.22 | 1.22 | 1.23 | 1.20 |
| Fixed-asset turnover | 4.62 | 5.56 | 5.25 | 5.56 | 5.73 | — | — | — | — |
| Inventory turnover | 4.90 | 4.46 | 5.43 | 4.85 | 4.68 | — | — | — | — |
| Receivables turnover | 5.16 | 5.36 | 5.72 | 5.70 | 5.57 | — | — | — | — |
| Payables turnover | 6.40 | 6.62 | 7.45 | 6.09 | 6.52 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 70.69 | 68.06 | 63.80 | 64.09 | 65.49 | — | — | — | — |
| Days inventory outstanding (DIO) | 74.56 | 81.89 | 67.22 | 75.26 | 77.96 | — | — | — | — |
| Days payables outstanding (DPO) | 56.99 | 55.18 | 49.02 | 59.90 | 55.95 | — | — | — | — |
| Cash conversion cycle | 88.26 | 94.78 | 82.00 | 79.45 | 87.50 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 1.40 | 0.76 | 1.52 | 1.19 | 1.14 | 1.29 | 1.29 | 1.32 | 1.28 |
| FCF / Net income | 1.20 | 0.50 | 1.19 | 0.98 | 0.93 | 1.04 | 1.04 | 1.08 | 1.02 |
| FCF margin | +12.04% | +5.07% | +12.43% | +11.35% | +9.21% | +10.83% | +10.85% | +11.19% | +10.71% |
| OCF margin | +14.08% | +7.65% | +15.87% | +13.73% | +11.35% | +13.43% | +13.49% | +13.67% | +13.45% |
| CapEx / Revenue | +2.04% | +2.57% | +3.44% | +2.39% | +2.14% | +2.69% | +2.71% | +2.72% | +2.63% |
| CapEx / D&A | 0.61 | 0.91 | 1.28 | 0.87 | 0.79 | — | — | — | — |
| Stock-based comp / Revenue | +0.50% | +0.62% | +0.59% | +0.61% | +0.65% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 2.24 | 2.66 | 2.90 | 3.38 | 3.05 | 3.95 | 4.37 | 4.87 | 5.30 |
| EPS · basic | 2.27 | 2.69 | 2.95 | 3.43 | 3.09 | 4.01 | 4.39 | 5.01 | 5.43 |
| Book value / share | 8.87 | 9.05 | 10.69 | 12.15 | 12.07 | 12.94 | 13.64 | 14.00 | 15.17 |
| Tangible BV / share | 5.87 | 5.49 | 5.27 | 6.84 | 7.16 | 12.94 | 13.64 | 14.00 | 15.17 |
| Sales / share | 22.26 | 26.41 | 27.76 | 29.25 | 30.66 | 32.16 | 34.10 | 36.13 | 38.43 |
| Operating CF / share | 3.13 | 2.02 | 4.41 | 4.02 | 3.48 | 4.32 | 4.60 | 4.94 | 5.17 |
| Free cash flow / share | 2.68 | 1.34 | 3.45 | 3.32 | 2.82 | 3.48 | 3.70 | 4.04 | 4.11 |
| Dividends / share | 0.84 | 0.88 | 0.93 | 1.00 | 1.10 | 1.09 | 1.19 | 1.21 | 1.31 |
| Payout ratio | +37.36% | +33.08% | +31.88% | +29.66% | +35.94% | +32.49% | +33.35% | +32.45% | +32.65% |
| Retention ratio | +62.64% | +66.92% | +68.12% | +70.34% | +64.06% | +67.51% | +66.65% | +67.55% | +67.35% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +15.86% | +3.76% | +4.53% | +2.92% | +4.86% | +6.97% | +5.26% | +5.75% | +6.17% |
| Gross profit · YoY | — | +9.85% | +8.73% | +9.81% | +0.93% | +2.03% | +7.12% | +5.22% | +5.82% | +6.14% |
| Profit | ||||||||||
| Operating income · YoY | — | +15.28% | +8.28% | +13.31% | +2.44% | +5.41% | +2.56% | +6.24% | +7.71% | +7.57% |
| EBITDA · YoY | — | +11.91% | +5.95% | +12.91% | -5.98% | +6.59% | +7.73% | +8.01% | +5.24% | +6.40% |
| Net income · YoY | — | +16.00% | +7.81% | +15.38% | -11.35% | +9.76% | +7.60% | +4.02% | +7.04% | +6.72% |
| Operating | ||||||||||
| EBIT · YoY | — | +15.05% | +7.63% | +14.10% | -7.24% | +11.68% | +3.71% | +7.13% | +5.46% | +6.98% |
| R&D · YoY | — | +1.92% | +13.02% | +19.85% | -6.20% | +7.33% | +6.14% | +5.84% | +4.18% | +6.27% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +18.75% | +9.02% | +16.55% | -9.76% | +29.60% | +10.66% | +11.33% | +8.83% | +11.37% |
| EPS · basic · YoY | — | +18.50% | +9.67% | +16.27% | -9.91% | +29.64% | +9.60% | +14.23% | +8.25% | +11.51% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $527.6M | $692.8M | $655.7M | $598.2M | $730.2M | $698.39M | $745.65M | $818.1M | $839.7M |
| Net debt | $304.8M | $499.5M | $468.6M | $365.5M | $549.8M | $476.25M | $519.96M | $572.91M | $585.12M |
| Net debt / EBITDA | 0.62 | 0.91 | 0.81 | 0.56 | 0.89 | 0.73 | 0.74 | 0.75 | 0.73 |
| Debt / equity | 0.46 | 0.61 | 0.50 | 0.40 | 0.50 | 0.45 | 0.45 | 0.48 | 0.46 |
| Debt / assets | +21.98% | +26.64% | +23.67% | +20.53% | +24.53% | +22.04% | +21.89% | +23.09% | +21.87% |
| Equity / assets | +47.38% | +43.58% | +47.67% | +51.10% | +48.82% | +49.13% | +48.63% | +47.65% | +47.39% |
| Coverage | |||||||||
| EBITDA / interest expense | 37.64 | 36.75 | 30.22 | 30.61 | 25.45 | 27.83 | 28.34 | 29.87 | 29.09 |
| Operating income / interest | 29.59 | 29.77 | 25.01 | 25.43 | 23.03 | 24.91 | 24.15 | 25.04 | 24.95 |
| Interest expense | $13M | $14.9M | $19.2M | $21.4M | $24.2M | $23.59M | $24.96M | $25.57M | $27.64M |
| Liquidity | |||||||||
| Current ratio | 2.05 | 2.23 | 1.70 | 1.84 | 1.93 | — | — | — | — |
| Quick ratio | 1.28 | 1.29 | 1.04 | 1.10 | 1.11 | — | — | — | — |
| Cash ratio | 0.37 | 0.31 | 0.25 | 0.30 | 0.24 | — | — | — | — |
| Working capital | $637.4M | $776.9M | $529.6M | $655.6M | $704.5M | — | — | — | — |
| Working capital / revenue | +22.33% | +23.50% | +15.44% | +18.28% | +19.09% | — | — | — | — |
Sourced from key_metrics + financial_ratios (loaded by load_fundamentals_extended.py).
Valuation
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| P / E | — | — |
| P / B | — | — |
| EV / EBITDA | — | — |
| EV / Sales | 2.46x | 2.62x |
| Earnings yield | 4.3% | 4.6% |
| FCF yield | 4.0% | 4.5% |
Returns
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | — | — |
| ROE | 25.2% | 27.8% |
| ROA | 12.3% | 14.2% |
| ROIC | 18.2% | 19.1% |
Leverage & liquidity
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Debt / equity | — | — |
| Net debt / EBITDA | 0.89 | 0.56 |
| Interest coverage | — | — |
| Current ratio | 1.93x | 1.84x |
| Quick ratio | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).