Donaldson Company, Inc.
- Open
- 90.59
- Day high
- 90.59
- Day low
- 89.68
- Prev close
- 89.91
- Volume
- 14K
- Mkt cap
- $10.4B
- P/E (TTM)
- 22.9
- EPS (TTM)
- $3.92
- P/B
- 5.9
- P/S
- 2.7
- Yield
- 1.38%
- Per share
- $1.24
- ▼Insiders net selling -$276K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions mixed (13F)
Donaldson Company, Inc. (DCI) is a Industrials company listed on NYSE. The stock is up 13% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4). Drillr has 1 published research article covering DCI.
Donaldson Company, Inc. (DCI) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
DCI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 26, 2026 | $1.13 | $1.15 | +1.8% | $1.1B | +1.6% |
| Jun 2, 2026 | $1.05 | $1.06 | +1.0% | $995M | +2.2% |
| Feb 26, 2026 | $0.90 | $0.83 | -7.8% | $896M | -0.2% |
| Dec 4, 2025 | $0.92 | $0.94 | +2.0% | $935M | +1.3% |
| Aug 27, 2025 | $1.02 | $1.03 | +1.0% | $981M | +3.0% |
| Jun 3, 2025 | $0.95 | $0.99 | +4.3% | $940M | +0.5% |
| Feb 27, 2025 | $0.85 | $0.83 | -2.6% | $870M | -7.9% |
| Dec 3, 2024 | $0.82 | $0.83 | +1.1% | $900M | +1.3% |
| Aug 28, 2024 | $0.89 | $0.94 | +5.7% | $935M | -0.6% |
| Jun 4, 2024 | $0.84 | $0.92 | +9.7% | $928M | +1.5% |
| Feb 28, 2024 | $0.74 | $0.81 | +9.2% | $877M | +0.5% |
| Nov 29, 2023 | $0.72 | $0.75 | +4.0% | $846M | -1.1% |
DCI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Sep 1, 2026 | Carpenter Tod E.director, officer: Chairman, President and CEO | Option | 3,032 | $42.72 |
| Sep 1, 2026 | Carpenter Tod E.director, officer: Chairman, President and CEO | Sell | 3,032 | $91.00 |
| Aug 28, 2026 | Pogalz Bradley J.officer: Chief Financial Officer | Option | 3,000 | $42.72 |
| Aug 28, 2026 | Pogalz Bradley J.officer: Chief Financial Officer | Tax | 2,129 | $91.84 |
| Jul 7, 2026 | Hilger Christopher M.director | Grant | 400 | $89.09 |
| Jul 7, 2026 | Smiley Jacinth Cdirector | Grant | 267 | $89.09 |
| Jul 7, 2026 | Owens Jamesdirector | Grant | 267 | $89.09 |
| Jul 7, 2026 | Rautio Trudy A.director | Grant | 334 | $89.09 |
| Apr 14, 2026 | Owens Jamesdirector | Option | 5,921 | $42.26 |
| Apr 14, 2026 | Owens Jamesdirector | Sell | 5,921 | $89.02 |
| Apr 14, 2026 | Owens Jamesdirector | Option | 6,600 | $48.96 |
| Apr 14, 2026 | Owens Jamesdirector | Option | 7,153 | $42.26 |
| Apr 14, 2026 | Owens Jamesdirector | Sell | 6,600 | $89.21 |
| Apr 14, 2026 | Owens Jamesdirector | Option | 126 | $42.26 |
| Apr 14, 2026 | Owens Jamesdirector | Sell | 126 | $88.82 |
Source: DCI SEC Form 4 filings, latest Sep 1, 2026. For informational purposes only — not investment advice.
See the full DCI insider & 13F page →Donaldson Company, Inc. company profile
Overview
Donaldson Company, Inc. (NYSE:DCI) is a global leader in filtration technology founded in 1915 and headquartered in Bloomington, Minnesota. The company has evolved from its origins as a manufacturer of air cleaners for tractors into a diversified filtration solutions provider serving multiple industries worldwide. With over a century of experience, Donaldson operates manufacturing facilities and sales offices across more than 40 countries, generating over $3.5 billion in annual revenue. The company went public in 1980 and has established itself as a technology-driven organization focused on solving complex filtration challenges across mobile equipment, industrial applications, and life sciences markets.
Business
Donaldson operates in the filtration industry, which encompasses the design, manufacture, and sale of systems that remove contaminants from air, liquids, and gases across various applications. The company's products are essential for protecting engines, extending equipment life, ensuring product quality, and maintaining clean environments in industrial processes. The company operates through three primary business segments: Mobile Solutions (approximately 63% of revenue): This segment provides filtration systems for mobile equipment including construction machinery, agricultural equipment, mining vehicles, trucks, and aerospace applications. Products include air intake filters that prevent dirt and debris from entering engines, hydraulic and transmission filters for fluid systems, fuel filters, and exhaust aftertreatment systems that reduce emissions. The segment serves both original equipment manufacturers (OEMs) who install filters in new equipment and the aftermarket, which includes replacement filters sold through distributors and dealer networks. Industrial Solutions (approximately 30% of revenue): This segment focuses on stationary industrial applications, providing dust collection systems for manufacturing facilities, compressed air purification systems, gas turbine air filtration systems for power generation, and specialized filtration for semiconductor manufacturing and data storage applications. These systems help maintain clean air in factories, protect sensitive manufacturing processes, and ensure compliance with environmental regulations. Life Sciences (approximately 7% of revenue): The newest and fastest-growing segment serves the biotechnology, pharmaceutical, food and beverage, and medical device industries. Products include bioprocessing filters used in drug manufacturing, sterile filtration systems for food and beverage production, and specialized filtration for medical applications. This segment has grown through strategic acquisitions and represents Donaldson's expansion into higher-value, technology-intensive markets.
Revenue model
Donaldson generates revenue through multiple complementary business models. The primary revenue stream comes from product sales of filtration systems and replacement parts, with approximately 70% of total revenue derived from aftermarket sales of replacement filters and 30% from first-fit sales to OEMs for new equipment. The aftermarket business provides recurring revenue as filters require regular replacement based on usage hours or contamination levels. This creates a predictable revenue stream with higher margins, as customers typically prioritize equipment uptime over filter cost. The company serves end customers through a global network of distributors, OEM dealer networks, and direct sales to large fleet operators. Several factors influence Donaldson's profitability margins. Positive margin drivers include the company's strong aftermarket mix, which typically carries higher margins than OEM sales, successful pricing actions to offset input cost inflation, and the growing share of higher-value life sciences products. The company's technology leadership and established distribution relationships provide pricing power, particularly in mission-critical applications where filter failure could result in expensive equipment damage. Margin pressures come from raw material cost volatility, particularly steel, synthetic media, and other petroleum-based inputs. Economic downturns can reduce equipment utilization rates, leading to lower filter replacement frequency. Competitive pricing pressure exists in commodity filtration markets, and currency fluctuations impact international operations. Additionally, the company faces ongoing investments in R&D and manufacturing capacity to support growth initiatives, which can temporarily pressure margins during expansion phases.
Competitive moat
Donaldson possesses a moderate to strong competitive moat built on several key advantages. The company's primary moat stems from its extensive global distribution network and established relationships with OEMs and aftermarket channels built over more than a century. This distribution infrastructure would be extremely difficult and expensive for competitors to replicate, particularly in emerging markets where Donaldson has established presence. The company's technological expertise in filtration science provides another defensive advantage. Donaldson invests approximately 3% of revenue in R&D, developing proprietary filter media, advanced materials, and specialized filtration solutions. This technical capability is particularly valuable in demanding applications like aerospace, semiconductor manufacturing, and bioprocessing, where performance requirements are stringent and switching costs are high. The aftermarket revenue model creates customer stickiness through installed base dynamics. Once a Donaldson filter system is installed, customers typically continue purchasing replacement filters from the same manufacturer to ensure compatibility and maintain warranties. This creates recurring revenue streams that are relatively insulated from economic cycles. However, the moat faces several challenges. In commodity filtration markets, competition from lower-cost manufacturers, particularly from Asia, can pressure pricing and market share. The industrial filtration market includes well-established competitors like Parker Hannifin, Pall Corporation (now part of Danaher), and Camfil, creating competitive pressure. Additionally, some large OEM customers have developed internal filtration capabilities or work with multiple suppliers to reduce dependence on any single vendor. The company's expansion into life sciences represents both an opportunity to strengthen its moat through higher-value, more specialized products, and a risk as it enters markets with different competitive dynamics and customer requirements than its traditional industrial base.
Risks & safety
Donaldson demonstrates solid financial stability with manageable debt levels and consistent cash generation, though valuation metrics suggest limited margin of safety at current prices. • Liquidity and Solvency: Strong balance sheet with $189 million in cash, current ratio of 1.86, and debt-to-equity ratio of 0.37. Free cash flow of $407 million annually provides substantial financial flexibility. • Valuation Metrics: Trading at 22.2x P/E ratio and 14.3x EV/EBITDA, representing premium valuations that limit downside protection. Price-to-book ratio of 5.5x suggests shares are priced for continued growth execution. • Operational Stability: Consistent profitability with 15.4% operating margins and strong return on equity of 27.8% (annual basis). However, quarterly ROE of 6.2% indicates some earnings volatility. • Other Considerations: Mature industrial markets and cyclical end-markets create revenue volatility risk. Life sciences growth investments currently pressuring segment profitability but expected to improve over next 12 months.
Recent development
Over the past few years, Donaldson has executed a significant strategic transformation focused on portfolio optimization and expansion into higher-value markets. The company reorganized from two segments (Engine Products and Industrial Products) into three segments (Mobile Solutions, Industrial Solutions, and Life Sciences) in fiscal 2023 to better align with end-market customer needs and growth opportunities. The most significant development has been the company's aggressive expansion into life sciences markets through strategic acquisitions. Key acquisitions include Isolere Bio and Univercells Technologies for bioprocessing capabilities, Solaris Biotech for bioreactor technology, and a 49% stake in Medica SpA for hollow fiber membrane technology. These acquisitions have transformed life sciences from a small specialty business into a distinct growth segment representing 7% of revenue with 21% annual growth. Donaldson has also invested heavily in technology and innovation, increasing R&D spending by 16% to nearly 3% of sales. The company opened a new bioprocessing technical center in North Carolina and launched new connected filtration solutions that provide real-time monitoring capabilities. Connected machine and facility solutions have shown strong growth of 30% and 29% respectively, representing the company's digital transformation efforts. Operational improvements include opening new manufacturing facilities in Mexico and a distribution center in Mississippi to optimize supply chain efficiency. The company has also focused on sustainability initiatives, achieving a 25% reduction in Scope 1 and 2 emissions and increasing renewable energy usage by 20%. These strategic moves position Donaldson to capitalize on growing demand for advanced filtration solutions while diversifying beyond traditional industrial markets.
DCI company profile · for informational purposes only — not investment advice.
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