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Arphra AIPlain-English read on Rockwell Automation, Inc.’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $7B | $7.76B | $9.06B | $8.26B | $8.34B | $8.96B | $9.45B | $10.05B | $10.76B |
| Cost of revenue | $4.1B | $4.66B | $5.34B | $4.58B | $4.33B | $4.86B | $5.21B | $5.61B | $6B |
| Gross profit | $2.9B | $3.1B | $3.72B | $3.68B | $4.02B | $4.1B | $4.17B | $4.4B | $4.81B |
| Gross margin | +41.41% | +39.97% | +41.04% | +44.52% | +48.14% | +45.74% | +44.11% | +43.79% | +44.73% |
| Operating | |||||||||
| Research & development | $422.5M | $440.9M | $529.5M | $477.3M | $679M | $586.4M | $632.12M | $648.32M | $699.02M |
| Selling, general & administrative | $1.75B | $1.77B | $2.02B | $1.94B | $1.91B | $2.02B | $2.17B | $2.25B | $2.51B |
| Total operating expenses | $2.17B | $1.77B | $2.02B | $2.41B | $2.59B | $2.52B | $2.63B | $2.77B | $2.95B |
| Operating income | $729.9M | $1.34B | $1.69B | $1.26B | $1.42B | $1.52B | $1.65B | $1.75B | $1.79B |
| Operating margin | +10.43% | +17.21% | +18.69% | +15.30% | +17.06% | +16.97% | +17.49% | +17.46% | +16.61% |
| EBITDA | $1.33B | $1.44B | $1.99B | $1.57B | $1.4B | $1.7B | $1.78B | $1.91B | $2.08B |
| EBIT | $1.15B | $1.2B | $1.74B | $1.25B | $1.07B | $1.39B | $1.49B | $1.6B | $1.74B |
| Below the line | |||||||||
| Interest expense | $92.3M | $119.6M | $131.8M | $151M | $156M | $156.53M | $161.66M | $175.02M | $185.36M |
| Interest income | $1.6M | $4.4M | $9.7M | $15.6M | $13M | $13.28M | $14.51M | $15.58M | $16.61M |
| Other income / expense | $796.3M | -$261.7M | -$84.8M | -$165.3M | -$506M | — | — | — | — |
| Pre-tax income | $1.53B | $1.07B | $1.61B | $1.1B | $917M | $1.26B | $1.29B | $1.42B | $1.48B |
| Income tax expense | $181.9M | $154.5M | $330.5M | $151.8M | $168M | $224.65M | $235.82M | $244.95M | $265.87M |
| Earnings | |||||||||
| Net income | $1.36B | $932.2M | $1.39B | $952.5M | $869M | $1.11B | $1.15B | $1.27B | $1.34B |
| Net income · continuing ops | $1.34B | $919.1M | $1.28B | $947.3M | $749M | $1.01B | $1.08B | $1.17B | $1.2B |
| Net margin | +19.41% | +12.01% | +15.32% | +11.53% | +10.42% | +12.38% | +12.22% | +12.69% | +12.48% |
| EPS · basic | $11.69 | $8.02 | $12.03 | $8.32 | $7.69 | $12.81 | $14.68 | $15.92 | $17.95 |
| EPS · diluted | $11.58 | $7.96 | $11.95 | $8.28 | $7.67 | $12.93 | $14.46 | $16.02 | $17.83 |
| EPS · low estimate | — | — | — | — | — | $12.18 | $13.63 | $13.22 | $17.49 |
| EPS · high estimate | — | — | — | — | — | $13.59 | $15.27 | $17.37 | $18.34 |
| Shares · basic | 116M | 115.9M | 114.8M | 114M | 112.7M | 113.37M | 112.86M | 112.05M | 112.41M |
| Shares · diluted | 117.1M | 116.7M | 115.6M | 114.5M | 113.1M | 112.77M | 114.02M | 113.45M | 112.05M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 19 | 20 | 14 | 7 |
| Analysts (EPS) | — | — | — | — | — | 16 | 18 | 9 | 6 |
Coverage notes. Historical figures come from FMP’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS from FMP consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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