Gates Industrial Corp Ltd. income statement
In fiscal 2025, Gates Industrial Corp Ltd. reported revenue of $3.44bn, up 1.0% on the year before, operating income of $465m (a 13.5% margin) and net income of $251m, or $0.96 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Jan 2021 | 2021Jan 2022 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2,747 | 3,042 | 3,348 | 3,087 | 2,793 | 3,474 | 3,554 | 3,570 | 3,408 | 3,443 | 3,553 |
| Cost of revenue | 1,686 | 1,824 | 2,017 | 1,945 | 1,758 | 2,135 | 2,304 | 2,211 | 2,050 | 2,072 | 2,120 |
| Gross profit | 1,061 | 1,218 | 1,331 | 1,143 | 1,035 | 1,339 | 1,251 | 1,359 | 1,359 | 1,372 | 1,433 |
| Research and development | 69 | 69 | 71 | 68 | 67 | 71 | 69 | 66 | 67 | 72 | — |
| Selling, general and administrative | 738 | 777 | 806 | 777 | 777 | 853 | 854 | 885 | 877 | 876 | 935 |
| Operating income | 305 | 403 | 497 | 347 | 211 | 484 | 384 | 460 | 472 | 465 | 481 |
| Interest expense | 216 | 235 | 176 | 158 | 154 | 134 | 139 | 163 | 156 | 126 | 123 |
| Income before tax | 93 | 110 | 304 | 199 | 71 | 350 | 258 | 285 | 328 | 340 | 358 |
| Income tax | 21 | −73 | 32 | −496 | −19 | 18 | 15 | 28 | 108 | 63 | −35 |
| 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 |
| Diluted shares (average) | 248m | 250m | 292m | 292m | 292m | 297m | 288m | 276m | 265m | 261m | 257m |
| EBITDA | 546 | 615 | 715 | 569 | 430 | 707 | 601 | 678 | 689 | 679 | 705 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 829 | 848 | 884 | 856 | 856 | 851 | 942 | 904 |
| Cost of revenue | 494 | 503 | 524 | 514 | 531 | 513 | 556 | 520 |
| Gross profit | 335 | 345 | 360 | 342 | 325 | 338 | 386 | 383 |
| Selling, general and administrative | 223 | 216 | 231 | 219 | 210 | 227 | 251 | 247 |
| Operating income | 110 | 126 | 116 | 115 | 108 | 110 | 132 | 131 |
| Interest expense | 34 | 30 | 29 | 35 | 33 | 30 | 30 | 31 |
| Income before tax | 88 | 94 | 80 | 95 | 71 | 78 | 100 | 108 |
| Income tax | 47 | 25 | 17 | 6 | 15 | 12 | −78 | 17 |
| Net income | 37 | 62 | 57 | 82 | 51 | 60 | 171 | 87 |
| Diluted EPS | $0.14 | $0.24 | $0.22 | $0.31 | $0.19 | $0.23 | $0.67 | $0.34 |
| EBITDA | 164 | 178 | 169 | 169 | 163 | 166 | 189 | 188 |
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