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Gates Industrial Corp Ltd. (GTES) stock

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NYSE: GTES NYSE Industrial Machinery & Supplies & Components Next results ~February 11, 2027

C Fundamentals grade

Gates Industrial Corp Ltd. is a US-listed company in the industrial machinery & supplies & components industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$21

Cash-flow model

Base case. Range ~$14–$31 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 12% above our base value.

Price used: $24.01, November 2, 2026

Gates Industrial Corp Ltd. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Gates Industrial files

10-Q filed October 30: Gates Industrial

Model value −5.0%

Revenue for the twelve months to September 2026 was $3.55bn, up 4.0% on a year earlier, faster than the 3.3% growth a quarter earlier. That puts it 52 of 64 for growth among the industrial machinery & supplies & components companies we cover. Free-cash-flow margin held at 10.3%. Our model value falls from $22.15 to $21.05 a share, against a share price of $23.83. The rating stays Hold. At that price, our model says the market is pricing in about 4.4% a year of cash-flow growth for five years, faster than the 0.4% a year revenue growth it has delivered.

Source: 10-Q filed October 30, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Gates Industrial stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $3.50bn, up 3.3% on a year earlier, faster than 1.6% a quarter earlier. Free-cash-flow margin rose to 11.6% from 9.9% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 4 of our 7 financial-health checks. Our cash-flow model value is $15.49 a share, against a share price of $25.95. At that price, our model says the market is pricing in about 9.2% a year of cash-flow growth for five years, faster than the 0.2% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 11, 2027 (estimated)

Gates Industrial Corp Ltd.'s trailing-twelve-month revenue grew 4.0% year on year, with a free-cash-flow margin of 10.3%. Where it lags: days sales outstanding of 91 days ranks 57 of 65 industrial machinery & supplies & components companies we cover.

Our discounted-cash-flow model values the business at ~$21 per share in the base case (~$14–$31 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 14.2% while net income grew 55.6%: a 41pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 1.7% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Volatile shares. Over the past year the shares showed annualised volatility of 40% and a beta of 1.8 against the S&P 500.
  • Below peers: days sales outstanding. Days sales outstanding of 91 days ranks 57 of 65 industrial machinery & supplies & components companies we cover (median 63 days).
  • Below peers: revenue growth. Revenue growth of 4.0% ranks 60 of 75 industrial machinery & supplies & components companies we cover (median 8.3%).

Latest results: FY2026 Q3

Filed October 30, 2026
Earnings per share
$0.47 against an average estimate of $0.44: beat by 6.9%
Revenue
$904m, up 5.6% on a year earlier
Share reaction
-8.5% in the first session after the results on October 30, 2026, against -2.2% for the S&P 500
Guidance given
core Sales Growth growth 3.2% to 3.8% (full year 2026); adjusted EBITDA $809m to $823m (full year 2026)
Next report
October 30, 2026; average EPS estimate $0.45

Gates Industrial's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.8%
  • 1 week-5.8%
  • 1 month-13.2%
  • This year+11.8%
  • 1 year+8.7%
  • 5 years+37.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$3.6B
Operating margin
13.5%
Net margin
10.4%
EPS (TTM, diluted)
$1.43

Growth

Revenue growth
+4.0%
Change in growth rate
+0.6 pts
Share count change
−1.7%

Cash

Free cash flow (TTM)
$367M
FCF margin
10.3%
Stock pay % of revenue
0.8%

Earnings

Last results
October 30, 2026
Next results (est.)
February 11, 2027

News & updates

Updated November 1, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Our research
  2. Results
  3. Guidance
  4. Announcement
  5. Deal
  6. Announcement
  7. Announcement
  8. Announcement
  9. Results
  10. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Gates Industrial Corp Ltd. valuation models and calculator

What the price is pricing in

The share price implies about 4.6% a year of cash-flow growth for five years.That is close to the 0.4% a year revenue growth Gates Industrial has delivered.

  • Priced in4.6%
  • Last 12 months4.0%
  • 3 years a year-0.4%
  • 5 years a year0.4%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($24.75, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$21
Price used
$24.75close November 3, 2026
Implied change
▼ 13%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Gates Industrial Corp Ltd.'s free cash flow after stock-based pay with after-tax interest added back ($417M, FY2026 Q3 TTM), growing 4.4% and 3% in the next two years (forecasts, guidance and its record), then back to 2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$14–~$31 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Gates Industrial Corp Ltd.'s free cash flow after stock-based pay ( $417M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Gates Industrial Corp Ltd. as an operating company, with every model that fits that kind of business. Cost of equity 10.2%: the 10-year Treasury yield (4.9%) plus a beta of 1.17 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$21 ~$14–$31 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$34 ~$30–$44 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$11 ~$7.1–$16 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$9.9 ~$8.7–$12 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$19 ~$9.9–$34 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Gates Industrial Corp Ltd. with Industrial Machinery & Supplies & Components in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −32%
  • Revenue growth 5 points higher ▲ +42%
  • Free-cash-flow margin 1 point lower ▼ −10%
  • Last year's free-cash-flow margin change, if it persists ▲ +10%
  • Discount rate 1 point higher ▼ −18%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $17$25$37$52$71$96
8.5% $11$17$25$36$50$68
10% $8$12$19$27$38$51

Valuation multiples over time Market data may be delayed

At fiscal year end 20182019202020212022202320242025Now
Share price$13.18$13.71$12.76$15.91$11.41$13.42$20.67$21.47$24.01
Market value$3.8bn$4.0bn$3.7bn$4.7bn$3.3bn$3.7bn$5.5bn$5.6bn$6.2bn
+ Net debt (− = net cash)$2.6bn$2.3bn$2.2bn$1.9bn$1.9bn$1.8bn$1.7bn$1.4bn$1.4bn
Enterprise value$6.4bn$6.3bn$5.9bn$6.7bn$5.2bn$5.5bn$7.2bn$7.0bn$7.6bn
Multiples
Price / sales 1.1x1.3x1.3x1.4x0.9x1.0x1.6x1.6x1.7x
Price / earnings 15.7x5.8x46.9x15.9x14.9x15.9x28.1x22.3x16.7x
Price / free cash flow 26.1x14.4x14.9x15.5x17.4x8.8x18.5x13.8x16.8x
EV / EBITDA 9.0x11.2x13.8x9.4x8.6x8.0x10.4x10.3x10.7x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

62 /100

Moderate moat

How hard Gates Industrial's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 3 / 20

    Net income has been a median 3.4% of total assets over 9 years.

  • Pricing power 14 / 20

    Gross margin has been a median 39.2%, moving by 1.7 percentage points (standard deviation) across 9 years.

  • Durability 11 / 20

    Operating margin has been a median 13.5%; its worst year was 7.1%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 9 of 9 years, at a median 9.2% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 13.5% over five years; stock-based pay has been a median 0.8% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.68 +10% $3.6bn +5%
Next $1.92 +14% $3.8bn +5%

Next year's EPS estimate has moved +1.9% in 90 days, across 12 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +2.6% on 90 days ago. In the last 30 days, 0 analysts raised Gates Industrial Corp Ltd.'s forecast and 0 cut it.

Consensus EPS forecast Gates Industrial Corp Ltd., last 90 days
$1.60 $1.70 $1.80 $1.90 $2.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.64 Current fiscal year, 60 days ago: $1.67 Current fiscal year, 30 days ago: $1.68 Current fiscal year, 7 days ago: $1.68 Current fiscal year, Now: $1.68 $1.68 Next fiscal year, 90 days ago: $1.88 Next fiscal year, 60 days ago: $1.93 Next fiscal year, 30 days ago: $1.93 Next fiscal year, 7 days ago: $1.92 Next fiscal year, Now: $1.92 $1.92

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.64$1.88
60 days ago $1.67$1.93
30 days ago $1.68$1.93
7 days ago $1.68$1.92
Now $1.68$1.92

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.44 $0.47 +6.9%
Jun 2026 $0.42 $0.44 +5.8%
Mar 2026 $0.33 $0.35 +6.5%
Dec 2025 $0.37 $0.38 +4.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 30, 2026
  • Core Sales Growth full year 2026 3.2% growth to 3.8% growth Non-GAAP Raised
    “Core Sales Growth 2.5% to 4.5% 3.2% to 3.8% No Change” source
  • Adjusted EPS full year 2026 $1.66 to $1.72 Non-GAAP Raised
    “Adjusted EPS $1.62 to $1.70 $1.66 to $1.72 + $0.03” source
  • Adjusted EBITDA full year 2026 $809m to $823m Non-GAAP Raised
    “Adjusted EBITDA $800 to $830 Million $809 to $823 Million + $1 Million” source
  • Capital Expenditures full year 2026 about $120m Maintained
    “Capital Expenditures ~$120 Million ~$120 Million No Change” source
  • Free Cash Flow Conversion full year 2026 about 90% Non-GAAP Maintained
    “Free Cash Flow Conversion 90%+ 90%+ No Change” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Gates Industrial Corp Ltd.'s revenue by +4.4% next year and +3.0% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+5.5%, weight 68%) and the company's own record (+2.0%, weight 32%) . How the weights are set.

Analyst recommendations

12 analysts, Oct 2026
Buy867%
Hold433%
Sell00%

Monthly trend

  1. Oct 202626412
  2. Sep 202626412
  3. Aug 202626412
  4. Jul 202626311

Counts of recommendations published by analysts covering Gates Industrial Corp Ltd., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.4%
of tradable shares
Days to cover
6.5
at average volume
Short interest, 1 month
−5%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
2.0%
of shares
Employees
13,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +8.7%

$22.08 on October 31, 2025 to $24.01

ThenNowEffect
Revenue (last 12 months) $3.4bn $3.5bn +3.3%
Net margin 6.0% 10.4% +73.5%
P/E multiple 28.5x 17.1x −40.1%
Share count 262m 258m +1.3%

Biggest factor: net margin.

Last 3 years +106.4%

$11.63 on November 3, 2023 to $24.01

ThenNowEffect
Revenue (last 12 months) $3.6bn $3.5bn −2.3%
Net margin 6.4% 10.4% +63.2%
P/E multiple 14.5x 17.1x +17.8%
Share count 284m 258m +9.9%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
GTES+25%−28%+18%+53%+4%+12%
Industry peers (median)+19%−13%+21%+2%+13%+3%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
GTES58%42%50%42%67%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
GTES−23%−42%−25%−15%−34%−25%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since January 25, 2018: 70% from September 21, 2018 to March 17, 2020. Getting back needed a 234% gain, reached on November 5, 2024, 1694 days after the low.

Price behaviour

52-week range
$21.04 – $29.84
From 52-week high
−19.5%
vs 50-day average
−7.7%
vs 200-day average
−6.8%
Volatility (1 year)
40%
Beta vs S&P 500
1.75

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±6.6%
After a week
7 up, 4 down
typical move ±7.8%
After a month
6 up, 5 down
typical move ±9.9%
Results releasedNext dayS&P 500 next day5 days21 days
October 30, 2026 −8.5% −2.2% — —
July 31, 2026 +14.0% +2.2% +9.6% −0.8%
May 1, 2026 −3.8% −0.1% +1.9% +3.5%
February 12, 2026 +5.5% −1.5% +4.1% −13.7%
October 29, 2025 −15.3% −1.1% −15.4% −11.9%
July 30, 2025 +0.2% −0.5% −2.5% +5.6%
April 30, 2025 +6.0% +0.7% +11.8% +17.6%
February 6, 2025 +8.7% −0.6% +6.8% −8.8%
October 30, 2024 +6.0% −2.3% +16.9% +21.4%
July 31, 2024 +0.1% +0.2% −9.1% +0.7%
May 1, 2024 −6.6% +0.6% −6.0% −1.1%
February 8, 2024 −4.4% +0.6% +1.6% +24.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Gates Industrial Corp Ltd.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Gates Industrial Corp Ltd. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Gates Industrial Corp Ltd.
$3.4B $3.4B $3.5B $3.5B $3.6B $3.6B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $3.6B Revenue (TTM), FY24 Q1: $3.5B Revenue (TTM), FY24 Q2: $3.5B Revenue (TTM), FY24 Q3: $3.4B Revenue (TTM), FY24 Q4: $3.4B Revenue (TTM), FY25 Q1: $3.4B Revenue (TTM), FY25 Q2: $3.4B Revenue (TTM), FY25 Q3: $3.4B Revenue (TTM), FY25 Q4: $3.4B Revenue (TTM), FY26 Q1: $3.4B Revenue (TTM), FY26 Q2: $3.5B Revenue (TTM), FY26 Q3: $3.6B $3.6B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $3.6B
FY24 Q1 $3.5B
FY24 Q2 $3.5B
FY24 Q3 $3.4B
FY24 Q4 $3.4B
FY25 Q1 $3.4B
FY25 Q2 $3.4B
FY25 Q3 $3.4B
FY25 Q4 $3.4B
FY26 Q1 $3.4B
FY26 Q2 $3.5B
FY26 Q3 $3.6B
Revenue growth, TTM YoY Gates Industrial Corp Ltd.
-5% 0% 5% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 0.5% Revenue growth, TTM YoY, FY24 Q1: -0.7% Revenue growth, TTM YoY, FY24 Q2: -2.9% Revenue growth, TTM YoY, FY24 Q3: -4.4% Revenue growth, TTM YoY, FY24 Q4: -4.5% Revenue growth, TTM YoY, FY25 Q1: -4.0% Revenue growth, TTM YoY, FY25 Q2: -2.7% Revenue growth, TTM YoY, FY25 Q3: -0.7% Revenue growth, TTM YoY, FY25 Q4: 1.0% Revenue growth, TTM YoY, FY26 Q1: 1.6% Revenue growth, TTM YoY, FY26 Q2: 3.3% Revenue growth, TTM YoY, FY26 Q3: 4.0% 4.0%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 0.5%
FY24 Q1 -0.7%
FY24 Q2 -2.9%
FY24 Q3 -4.4%
FY24 Q4 -4.5%
FY25 Q1 -4.0%
FY25 Q2 -2.7%
FY25 Q3 -0.7%
FY25 Q4 1.0%
FY26 Q1 1.6%
FY26 Q2 3.3%
FY26 Q3 4.0%
Operating margin (TTM) Gates Industrial Corp Ltd.
12.5% 13% 13.5% 14% 14.5% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 12.9% Operating margin (TTM), FY24 Q1: 13.8% Operating margin (TTM), FY24 Q2: 14.2% Operating margin (TTM), FY24 Q3: 14.1% Operating margin (TTM), FY24 Q4: 14.0% Operating margin (TTM), FY25 Q1: 14.3% Operating margin (TTM), FY25 Q2: 13.8% Operating margin (TTM), FY25 Q3: 13.7% Operating margin (TTM), FY25 Q4: 13.5% Operating margin (TTM), FY26 Q1: 13.0% Operating margin (TTM), FY26 Q2: 13.3% Operating margin (TTM), FY26 Q3: 13.5% 13.5%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 12.9%
FY24 Q1 13.8%
FY24 Q2 14.2%
FY24 Q3 14.1%
FY24 Q4 14.0%
FY25 Q1 14.3%
FY25 Q2 13.8%
FY25 Q3 13.7%
FY25 Q4 13.5%
FY26 Q1 13.0%
FY26 Q2 13.3%
FY26 Q3 13.5%
FCF margin (TTM) Gates Industrial Corp Ltd.
8% 9% 10% 11% 12% 13% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 11.8% FCF margin (TTM), FY24 Q1: 9.7% FCF margin (TTM), FY24 Q2: 8.5% FCF margin (TTM), FY24 Q3: 8.6% FCF margin (TTM), FY24 Q4: 8.7% FCF margin (TTM), FY25 Q1: 9.5% FCF margin (TTM), FY25 Q2: 9.9% FCF margin (TTM), FY25 Q3: 9.4% FCF margin (TTM), FY25 Q4: 11.8% FCF margin (TTM), FY26 Q1: 12.4% FCF margin (TTM), FY26 Q2: 11.6% FCF margin (TTM), FY26 Q3: 10.3% 10.3%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 11.8%
FY24 Q1 9.7%
FY24 Q2 8.5%
FY24 Q3 8.6%
FY24 Q4 8.7%
FY25 Q1 9.5%
FY25 Q2 9.9%
FY25 Q3 9.4%
FY25 Q4 11.8%
FY26 Q1 12.4%
FY26 Q2 11.6%
FY26 Q3 10.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Jan 2021 2021 Jan 2022 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 2,747 3,042 3,348 3,087 2,793 3,474 3,554 3,570 3,408 3,443 3,553
Gross profit 1,061 1,218 1,331 1,143 1,035 1,339 1,251 1,359 1,359 1,372 1,433
EBITDA 546 615 715 569 430 707 601 678 689 679 705
Operating income 305 403 497 347 211 484 384 460 472 465 481
Net income 58 151 245 690 79 297 221 233 195 251 368
Diluted EPS $0.23 $0.60 $0.84 $2.37 $0.27 $1.00 $0.77 $0.84 $0.74 $0.96 $1.43
Growth (year on year)
Revenue — +10.7% +10.1% −7.8% −9.5% +24.4% +2.3% +0.5% −4.5% +1.0% +4.0%
EBITDA — +12.6% +16.3% −20.5% −24.5% +64.5% −14.9% +12.7% +1.7% −1.5% +3.7%
Operating income — +32.0% +23.3% −30.2% −39.1% +129.3% −20.7% +19.8% +2.6% −1.5% +3.1%
Net income — +162.2% +62.1% +181.3% −88.5% +274.2% −25.7% +5.5% −16.3% +29.0% +55.6%
Diluted EPS — +160.9% +40.0% +182.1% −88.6% +270.4% −23.0% +9.1% −11.9% +29.7% +58.3%
Margins
Gross margin 38.6% 40.0% 39.7% 37.0% 37.0% 38.5% 35.2% 38.1% 39.9% 39.8% 40.3%
EBITDA margin 19.9% 20.2% 21.4% 18.4% 15.4% 20.3% 16.9% 19.0% 20.2% 19.7% 19.8%
Operating margin 11.1% 13.2% 14.8% 11.2% 7.6% 13.9% 10.8% 12.9% 13.9% 13.5% 13.5%
Net margin 2.1% 5.0% 7.3% 22.4% 2.8% 8.6% 6.2% 6.5% 5.7% 7.3% 10.4%
Free-cash-flow margin 11.6% 7.2% 4.4% 9.0% 9.0% 8.8% 5.3% 11.8% 8.7% 11.8% 10.3%
Cash flow
Cash from operations 377 320 314 349 309 382 266 481 380 478 440
Capital spending 59 101 166 72 58 78 78 61 83 73 73
Free cash flow 318 219 147 277 251 305 188 420 297 405 367
Stock-based pay 4 5 6 15 20 25 44 27 29 27 29
Free cash flow after stock pay 314 213 141 262 231 280 144 392 268 378 338
Balance sheet
Cash 529 564 423 635 521 658 578 721 682 812 831
Total debt 0 3,988 3,027 2,985 2,721 2,579 2,491 2,472 2,364 2,240 2,231
Net debt (negative = net cash) −529 3,424 2,604 2,350 2,199 1,921 1,913 1,751 1,682 1,428 1,400
Diluted shares 248m 250m 292m 292m 292m 297m 288m 276m 265m 261m 257m
Returned to shareholders
Buybacks 2 2 0 0 0 11 176 252 176 119 202
Total returned 2 2 0 0 0 11 176 252 176 119 202

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 7 checks passed · September 26, 2026
What it owns · $7.4bn
Short-term assets $2.8bnLonger-term assets $4.7bn
What it owes, and who funded it · $7.1bn
Short-term liabilities $810mLonger-term liabilities $2.7bnShareholders' equity $3.6bn
  • Short-term assets cover short-term liabilities $2.8bn of assets due within a year against $810m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $2.8bn short-term assets against $2.7bn of longer-dated liabilities.
  • More cash than debt $831m of cash against $2.2bn of debt.
  • Debt below 40% of shareholders' equity Debt is 62% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 86% to 62% over five years.
  • A year's operating cash flow covers at least 20% of debt $440m of operating cash flow against $2.2bn of debt.
  • Operating profit covers interest at least five times over Operating income of $481m against $123m of interest.

From Gates Industrial Corp Ltd.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$202M
Returned to shareholders
55%
of free cash flow
Buybacks, last 3 fiscal years
$547M
Diluted share count
−1.7%
year over year
Total shareholder yield
3.4%
dividends 0.0% + buybacks 3.4% of market value
Sales & admin spending
26.3%
of revenue
Days sales outstanding
91 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in industrial machinery & supplies & components
Last 12 months unless stated GTES IEX MIDD DCI JBTM PNR Median
Revenue, last 12 months $3.6bn $3.7bn $3.4bn $3.9bn $3.9bn $4.0bn $1.4bn
Revenue growth, last 12 months 4.0% 6.9% 8.4% 5.3% 44.9% −3.9% 8.3%
Revenue growth, 3-year average −0.4% 3.5% −5.9% 4.2% 34.0% −1.3% 4.0%
Revenue growth, latest quarter 5.6% 8.3% 9.9% 8.0% 4.9% −4.5% 9.1%
Gross margin 40.3% 44.9% 38.4% 34.6% 35.6% 41.2% 35.2%
Operating margin 13.5% 20.9% 16.5% 15.4% 7.3% 19.6% 13.1%
Operating margin, 3-year average 13.8% 20.6% 19.5% 14.7% 6.3% 19.7% 13.7%
Net margin 10.4% 14.6% −13.9% 11.7% 4.9% 15.4% 8.9%
Cash from operations / revenue 12.4% 20.6% 15.6% 12.7% 10.8% 18.3% 11.9%
Free-cash-flow margin 10.3% 18.2% 14.2% 11.0% 7.9% 16.3% 8.8%
Free-cash-flow margin, 3-year average 9.5% 18.3% 20.1% 10.5% 6.2% 17.7% 9.8%
Stock pay / revenue 0.8% 0.9% 0.7% 0.6% 0.8% 0.8% 0.8%
Change in share count −1.7% −1.7% −10.5% −2.1% 24.0% −2.0% −0.0%

Median of all 76 companies we cover in industrial machinery & supplies & components. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

76 industrial machinery & supplies & components companies
Measure Company Peer median Rank
Revenue growth Growth 4.0% 8.3% 60 of 75
Change in growth rate Growth +0.6pp +1.2pp 44 of 75
Gross margin Profitability 40.3% 35.4% 23 of 70
Operating margin Profitability 13.5% 13.0% 35 of 75
Net margin Profitability 10.4% 8.9% 31 of 76
Free-cash-flow margin Cash generation 10.3% 9.1% 33 of 76
Stock pay as % of revenue Cash generation 0.8% 0.8% 36 of 70
Long-term debt as % of assets Balance sheet 29.5% 23.4% 42 of 59
Change in share count Balance sheet -1.7% -0.0% 22 of 73
Days sales outstanding Balance sheet 91 days 63 days 57 of 65

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Power Transmission $2.1B 62.4% ▲ 1.9%
Fluid Power $1.3B 37.6% ▼ 0.3%

From Gates Industrial Corp Ltd.'s 10-K filed February 12, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$266M
Institutions reporting
23
Positions opened / closed
23 / 0

Top buyers and sellers, Q2 2026: 23 institutions bought and 0 sold ; the biggest buyer was Fiduciary Management Inc (+6.2M shares) . See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Fiduciary Management Inc $173M 6.2M 65.1% —
Kennedy Capital Management LLC $45.7M 1.6M 17.2% —
Cramer Rosenthal Mcglynn LLC $44.7M 1.6M 16.8% —
Morganrosel Wealth Management, LLC $529,192 19K 0.2% —
Ensign Peak Advisors, Inc $398,740 14K 0.1% —
Syon Capital LLC $369,763 13K 0.1% —
Certuity, LLC $269,379 10K 0.1% —
Quent Capital, LLC $261,631 9K 0.1% —
Great Lakes Advisors, LLC $243,311 9K 0.1% —
Fourthought Financial Partners, LLC $201,300 7K 0.1% —
Parallel Advisors, LLC $119,712 4K 0.0% —
Bare Financial Services, Inc $20,809 1K 0.0% —

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Gates Industrial Corp Ltd.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $2M 6 trades by 3 insiders · 0% under pre-set plans
Net ▼ $2M net selling
Insider Date Trade Shares Price Value
Zhang Peifang Director August 6, 2026 Sell 6,000 $28.62 $171,720
Zhang Peifang Director August 5, 2026 Sell 6,000 $29.56 $177,360
Zhang Peifang Director August 4, 2026 Sell 5,000 $29.76 $148,800
Montgomery Gwendolyn Ann Chief Human Resources Officer November 26, 2025 Sell 40,996 $22.60 $926,510
Montgomery Gwendolyn Ann Chief Human Resources Officer November 17, 2025 Sell 2,338 $21.64 $50,594
Mallard Lawrence B Chief Financial Officer November 12, 2025 Sell 22,188 $22.77 $505,221

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 8 trades and filings

In the last 12 months, 1 member of Congress disclosed 2 purchases and 0 sales of Gates Industrial Corp Ltd. shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded September 29, 2026, filed October 12, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded March 3, 2026, filed April 7, 2026
  • Julia Letlow(R-LA 5):Purchase, $1,001 - $15,000, traded September 22, 2025, filed January 13, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 11, 2027 estimated from the company's past filing pattern, not announced

  • October 30, 2026
  • July 31, 2026
  • May 1, 2026
  • February 12, 2026
  • October 29, 2025
  • July 30, 2025

Recent SEC filings

Data status

When each part of this page on Gates Industrial Corp Ltd. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Gates Industrial Corp Ltd. in brief

What does Gates Industrial Corp Ltd. do?
Gates Industrial Corp Ltd. is a US-listed company in the industrial machinery & supplies & components industry. Its financial year ends in December.
What is Gates Industrial Corp Ltd.'s stock ticker?
Gates Industrial Corp Ltd. trades under the ticker GTES on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Gates Industrial Corp Ltd.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Gates Industrial Corp Ltd. reported revenue of $3.6B, 4.0% higher than a year earlier, according to its SEC filings.
What is Gates Industrial Corp Ltd.'s free cash flow?
Gates Industrial Corp Ltd.'s free-cash-flow margin is 10.3% of revenue over the trailing twelve months, ranking 33 of the 76 industrial machinery & supplies & components companies we cover.
What is Gates Industrial Corp Ltd.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Gates Industrial Corp Ltd.'s free cash flow after stock-based pay gives ~$21 per share in the base case, and ~$14–$31 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Gates Industrial Corp Ltd.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Fiduciary Management Inc, Kennedy Capital Management LLC and Cramer Rosenthal Mcglynn LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Gates Industrial Corp Ltd. buying back stock, and does it pay a dividend?
Gates Industrial Corp Ltd. spent $202M on share repurchases over the trailing twelve months, and its diluted share count fell 1.7% over the year.
What is Gates Industrial Corp Ltd.'s market cap?
On November 2, 2026, Gates Industrial Corp Ltd.'s market capitalisation was about $6.2B, with a price-to-earnings ratio of 16.7 and net debt of $1.4B. Market figures come from third-party market data and may be delayed.
How much debt does Gates Industrial Corp Ltd. have?
Gates Industrial Corp Ltd.'s debt-to-equity ratio is 62.4%, from its latest balance sheet (85.9% five years earlier). The financial health section below sets out its other solvency checks.
Who are Gates Industrial Corp Ltd.'s competitors?
In our Industrial Machinery & Supplies & Components peer group, the companies closest to Gates Industrial Corp Ltd. are IDEX Corporation, Middleby Corp, Donaldson Co Inc, JBT Marel Corp and Pentair. The side-by-side comparison below sets their revenue, margins and growth against Gates Industrial Corp Ltd.'s.
Are insiders buying or selling Gates Industrial Corp Ltd. stock?
Over the last 12 months, Gates Industrial Corp Ltd.'s directors and officers reported 0 open-market purchases and 6 sales on Form 4. The insider trading page charts every trade.
When is Gates Industrial Corp Ltd.'s next earnings date?
Around February 11, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Gates Industrial Corp Ltd. announces its own schedule.