Research · Sep 3, 2026
[ITT] ITT Inc. Thesis 2026: EV Friction Innovation Anchors Motion Technologies Premium
ITT FY2025 revenue ~$3.38B with adj. EBITDA margins holding at ~17.5% despite automotive OEM volatility. Motion Technologies EV-platform revenue ~$250M (tripled from $95M in FY2022) as Wolverine EV-optimized friction qualifications ramp at European and North American OEMs. Net cash ~$540M with ~$445M FCF enabling consistent buybacks (~$215M) + bolt-on M&A. FY2026 thesis: EV friction revenue toward $330-380M as BEV production volumes ramp; CCT aerospace/defense growing on NATO spend + commercial aircraft ramp; Goulds pumps benefiting from chemical/battery materials process expansion.