undamentalytics Newsletter
Sign in

Gates Industrial Corp Ltd. key statistics and ratios

In fiscal 2025, Gates Industrial Corp Ltd. had return on equity of 7.9%, an operating margin of 13.5%, debt equal to 67.2% of equity and a current ratio of 3.37. 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 year2016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Jan 20212021Jan 20222022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Gross margin38.6%40.0%39.7%37.0%37.0%38.5%35.2%38.1%39.9%39.8%40.3%
Operating margin11.1%13.2%14.8%11.2%7.6%13.9%10.8%12.9%13.9%13.5%13.5%
Net margin2.1%5.0%7.3%22.4%2.8%8.6%6.2%6.5%5.7%7.3%10.4%
Free-cash-flow margin11.6%7.2%4.4%9.0%9.0%8.8%5.3%11.8%8.7%11.8%10.3%
Return on equity5.4%14.5%16.6%30.0%2.9%10.1%7.1%7.4%6.2%7.9%10.7%
Return on assets—2.2%3.6%9.8%1.1%4.0%3.0%3.2%2.8%3.6%5.1%
Asset turnover—0.440.490.440.380.460.480.490.490.490.49
Current ratio—2.622.672.982.632.663.033.083.203.373.41
Debt to equity0.0%393.1%155.4%112.6%97.0%83.2%80.1%76.8%78.2%67.2%62.7%
Interest cover (operating income ÷ interest)1.4x1.7x2.8x2.2x1.4x3.6x2.8x2.8x3.0x3.7x3.9x
Effective tax rate22.7%—10.5%—−27.2%5.3%5.8%9.9%32.8%18.5%−9.7%
R&D as % of revenue2.5%2.3%2.1%2.2%2.4%2.0%2.0%1.8%2.0%2.1%—
SG&A as % of revenue26.9%25.5%24.1%25.2%27.8%24.5%24.0%24.8%25.7%25.4%26.3%
Capital spending as % of revenue2.1%3.3%5.0%2.3%2.1%2.2%2.2%1.7%2.4%2.1%2.0%
Free cash flow ÷ net income550.6%144.6%60.1%40.1%315.9%102.6%85.2%180.2%152.1%161.1%99.7%
Dividends and buybacks ÷ free cash flow0.6%0.7%0.0%0.0%0.0%3.5%93.5%60.0%59.4%29.5%55.1%

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

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.

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.

Compare with peers

Head to head: GTES vs IEXGTES vs MIDDDCI vs GTES

More: Industrial Machinery & Supplies & Components stocks compared, Industrials sector, rankings of US companies

Figures from Gates Industrial Corp Ltd.'s SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Gates Industrial Corp Ltd.