DCIDONALDSON Co INC
Industrial & Commercial Fans & Blowers & Air Purifing Equip
- Revenue
- $3.9B
- 5.3% YoY
- Operating margin
- 15.4%
- 15% YoY
- EBITDA
- $706M
- 19% YoY
- Market cap
- $9.6B
- Employees
- 15,500
- $251K revenue each
- Net debt / EBITDA
- 1.5×
- $1.0B net debt
- AI in 10-K
- 3.2
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 1 of 7
- TSR below peersYes4 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$8M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo109% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo51% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo27% of assetsOver 40% of assets
- Shareholder dissentNo92% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeYes$251K · 9th pctBottom quartile of its SIC industry
- Quiet on AINo3.2 per 10K words · 71st pctBottom quartile of AI mentions in 10-Ks
- Net cashNo1.5× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedNo$9.6B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$9M netNet sales over $10M in 12 months
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $3.3B | $3.4B | $3.6B | $3.7B | $3.9B | 5.3% |
| Operating income | $444M | $480M | $544M | $495M | $600M | 21% |
| Net income | $333M | $359M | $414M | $367M | $454M | 24% |
| Operating cash flow | $253M | $545M | $493M | $419M | $494M | 18% |
| Capex | $86M | $119M | $86M | $79M | $67M | 15% |
| Stock-based comp | $20M | $20M | $22M | $24M | $25M | 2.9% |
| Buybacks | $171M | $142M | $163M | $332M | $111M | 66% |
| Dividends | $110M | $114M | $123M | $132M | $141M | 7.1% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $9M · 11
- Net
- −$9M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | — | — | 154 | 145 |
| FY2025 | $8M | $6M | 116 | 127 |
| FY2024 | $8M | $11M | 118 | 123 |
| FY2023 | $7M | $10M | 98 | 108 |
| FY2022 | $7M | $5M | 83 | 86 |