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Donaldson Co Inc key statistics and ratios

In fiscal 2026, Donaldson Co Inc had return on equity of 28.2%, an operating margin of 15.4%, debt equal to 75.3% of equity and a current ratio of 2.08. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Fiscal year2010Jul 20102011Jul 20112012Jul 20122013Jul 20132014Jul 20142015Jul 20152016Jul 20162017Jul 20172018Jul 20182019Jul 20192020Jul 20202021Jul 20212022Jul 20222023Jul 20232024Jul 20242025Jul 20252026Jul 2026
Gross margin35.1%35.5%35.0%34.8%35.5%34.1%34.0%34.6%34.2%33.3%33.8%34.0%32.3%33.8%35.5%34.8%34.6%
Operating margin12.7%13.7%14.6%14.1%14.4%12.2%12.3%13.6%13.8%13.6%13.2%13.5%13.4%14.0%15.2%13.4%15.4%
Net margin8.9%9.8%10.6%10.2%10.5%8.8%8.6%9.8%6.6%9.4%10.0%10.1%10.1%10.5%11.5%9.9%11.7%
Free-cash-flow margin8.5%8.1%7.3%9.1%8.9%5.0%9.8%10.6%6.0%6.9%10.2%12.0%5.1%12.4%11.3%9.2%11.0%
Return on equity22.3%26.8%28.7%24.8%24.9%23.4%24.6%28.6%21.1%30.5%27.3%26.9%29.3%29.2%29.5%24.9%28.2%
Return on assets11.1%14.0%15.3%14.2%14.1%11.1%10.6%12.4%9.1%13.0%11.7%12.4%13.3%13.4%14.6%12.5%13.0%
Asset turnover1.251.421.441.401.341.261.241.261.381.381.181.231.321.281.261.251.12
Current ratio2.212.152.182.222.011.841.862.382.402.322.702.052.231.701.841.932.08
Debt to equity41.8%28.5%33.1%19.4%43.0%74.3%73.7%71.5%63.3%71.3%63.3%45.0%57.4%49.8%36.1%46.2%75.3%
Interest cover (operating income ÷ interest)19.9x25.2x31.6x31.5x34.9x19.0x13.2x16.6x17.7x19.5x19.5x29.6x29.8x25.0x25.4x20.5x16.7x
Effective tax rate27.8%27.9%28.7%29.0%27.9%27.9%25.9%27.7%50.4%28.8%23.3%24.7%24.1%23.4%22.7%25.4%22.5%
R&D as % of revenue2.4%2.4%2.4%2.6%2.5%2.5%2.5%2.3%2.2%2.2%2.4%2.4%2.1%2.3%2.6%2.4%2.0%
SG&A as % of revenue20.0%19.3%———————17.5%18.2%18.2%16.8%17.6%17.8%17.4%17.5%
Capital spending as % of revenue2.3%2.6%3.1%3.9%3.9%4.0%3.3%2.8%3.6%5.3%4.8%2.1%2.6%3.5%2.4%2.1%1.7%
Free cash flow ÷ net income96.2%82.3%68.7%89.3%84.8%57.2%114.5%108.2%91.7%73.0%102.2%119.5%50.3%118.7%98.3%92.6%93.9%
Dividends ÷ net income21.8%18.2%18.0%24.4%31.9%43.8%47.8%39.7%52.5%37.3%41.4%37.4%33.1%31.9%29.7%35.9%31.1%
Dividends and buybacks ÷ free cash flow64.4%80.9%98.0%73.7%164.3%292.0%80.4%92.4%131.0%117.3%76.4%72.7%167.8%60.1%70.2%136.3%59.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 7 checks passed · July 31, 2026
What it owns · $4.0bn
Short-term assets $1.7bnLonger-term assets $2.3bn
What it owes, and who funded it · $4.0bn
Short-term liabilities $804mLonger-term liabilities $1.4bnShareholders' equity $1.8bn
  • Short-term assets cover short-term liabilities $1.7bn of assets due within a year against $804m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.7bn short-term assets against $1.4bn of longer-dated liabilities.
  • More cash than debt $250m of cash against $1.3bn of debt.
  • Debt below 40% of shareholders' equity Debt is 75% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 50% to 75% over five years.
  • A year's operating cash flow covers at least 20% of debt $494m of operating cash flow against $1.3bn of debt.
  • Operating profit covers interest at least five times over Operating income of $600m against $36m of interest.

From Donaldson Co Inc'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.

Moat

80 /100

Strong moat

How hard Donaldson's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 18.7% of total assets over 5 years.

  • Pricing power 12 / 20

    Gross margin has been a median 34.1%, moving by 0.9 percentage points (standard deviation) across 10 years.

  • Durability 14 / 20

    Operating margin has been a median 13.6%; its worst year was 13.2%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 10 of 10 years, at a median 10.4% of revenue.

  • Discipline 19 / 20

    The diluted share count fell 8.0% over five years; stock-based pay has been a median 0.6% 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.

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Figures from Donaldson Co Inc's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Donaldson Co Inc.