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Makes filtration products—air and liquid filters—for engines, industrial processes and life-sciences applications.
Makes filtration products—air and liquid filters—for engines, industrial processes and life-sciences applications.
Sells filters to engine and equipment makers for new machines, then keeps selling replacement filters through dealers and distributors for the life of those machines, so the aftermarket carries profit while equipment orders swing. Based in Minnesota.
Moat: narrow (installed base, distribution, brand). A large installed base of equipment needing recurring filter replacement drives sticky aftermarket revenue.
Headquarters: Bloomington, Minnesota, US · Founded: 1915 · Employees: 15,500
Size Donaldson (DCI) is a United States Consumer Discretionary company (Auto Parts: OEM) with a market value of $9.77B, the 789th largest of 3,117 United States companies the cockpit tracks. Shares closed at $84.33 on 6 Nov 2026.
Performance Over six months the shares fell 1.9%, against -9.0% for the median peer and -1.1% for the United States market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 5.3% over the last twelve months (peer median +6.2%); the operating margin is 15.9% (peer median 8.4%).
Valuation It trades at 19.5× forward earnings against a peer median of 22.2× (10th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is +2 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 8.0 points above its cost of capital (8.8% WACC).
Short interest Short interest is 2.8% of the free float (15 Oct 2026).
Next results Next results expected around 2 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | $3.89B | $3.89B | $3.69B | $3.59B | $3.43B |
| Revenue growth | — | +5% | +3% | +5% | — |
| Gross profit | $1.34B | $1.34B | $1.28B | $1.26B | $1.15B |
| EBITDA | $722M | $715M | $674M | $649M | $594M |
| Net income | $454M | $454M | $367M | $414M | $359M |
| Free cash flow | $426M | $426M | $340M | $407M | $426M |
| Capital expenditure | $67.4M | $67.4M | $78.9M | $85.6M | $118M |
| Total debt | $1.38B | $1.38B | $730M | $598M | $716M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Donaldson DCI | $9.77B | -2% | +5% | 16% | 19.5× | 8.3% |
| Parker Hannifin PH | $116B | +4% | +8% | 22% | 24.4× | 19.0% |
| Cummins CMI | $62.0B | -34% | +3% | 11% | 13.8× | 11.6% |
| Atmus Filtration Technologies ATMU | $4.13B | -9% | +13% | 17% | 16.2× | 8.1% |
| Nederman NMAN.ST | $512M | +22% | -6% | 8% | 20.7× | 4.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | DCI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.2% | +2.0% | 8th lowest of 21 |
| 6-month return | -1.9% | -9.0% | 9th highest of 21 |
| Distance from 52-week high | -25.3% | -21.7% | 10th lowest of 21 |
| Revenue growth (TTM) | +5.3% | +6.2% | 10th lowest of 21 |
| Operating margin | 15.9% | 8.4% | 8th highest of 21 |
| Forward P/E | 19.5× | 22.2× | 10th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 8.3% | 10.1% | 8th least demanding of 17 |
| Growth delivered (Del g) | +6.4% | +9.3% | 5th lowest of 17 |
| Hurdle (Req g minus delivered) | +1.9 pp | -3.1 pp | 8th most demanding of 17 |
| ROIC minus cost of capital | +8.0 pp | +1.6 pp | 3rd highest of 21 |
| EV / EBITDA | 15.1× | 10.1× | 5th most expensive of 14 |
| Net debt / EBITDA | 1.6× | 1.0× | 3rd most indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Donaldson DCI | United States | $9.77B | -2% | +5% | 16% | 19.5× | 8.3% | +6.4% |
| Aisin 7259.T | Japan | $9.78B | -14% | +6% | 4% | 10.0× | -0.3% | +7.7% |
| Allison Transmission ALSN | United States | $9.65B | -6% | +71% | 20% | 11.0× | 2.6% | +7.7% |
| Trelleborg TREL-B.ST | Sweden | $10.1B | +19% | +2% | 19% | 22.9× | 9.6% | +2.6% |
| Niterra 5334.T | Japan | $9.01B | +5% | +16% | 19% | 9.9× | 4.0% | +11.3% |
| Autoliv ALV | United States | $8.89B | +2% | +4% | 10% | 11.0× | 2.6% | +7.7% |
| HELLA GmbH & Co. KGaA HLE.DE | Germany | $8.26B | -7% | -1% | 5% | 34.7× | 2.4% | +6.1% |
| Ningbo Tuopu 601689.SS | China | $11.7B | -26% | +11% | 9% | 29.9× | 15.3% | +35.4% |
| UNO Minda UNOMINDA.NS | India | $8.11B | +16% | +19% | 8% | 53.6× | 46.9% | +25.0% |
| Cummins India CUMMINSIND.NS | India | $11.9B | -25% | +15% | 19% | 43.5× | 39.5% | +22.7% |
| Huayu Automotive Systems 600741.SS | China | $7.87B | -11% | +1% | 3% | 7.9× | -15.5% | +6.6% |
| Huizhou Desay SV Automotive 002920.SZ | China | $7.12B | -23% | +12% | 7% | 17.5× | n/a | n/a |
| Anhui Jianghuai Automobile 600418.SS | China | $6.48B | -60% | +23% | -2% | 44.4× | n/a | n/a |
| Zhejiang Sling Intelligent Drive 301550.SZ | China | $6.34B | +14% | +7% | 19% | 230.9× | n/a | n/a |
| Wanxiang Qianchao 000559.SZ | China | $6.24B | -22% | -4% | 8% | 36.7× | 21.2% | +4.2% |
| Kuang-Chi Technologies 002625.SZ | China | $6.05B | -52% | -7% | 20% | 21.6× | n/a | n/a |
| Bosch BOSCHLTD.NS | India | $15.8B | +34% | +14% | 12% | 49.7× | 46.8% | +15.7% |
| Sona BLW Precision Forgings SONACOMS.NS | India | $5.94B | +56% | +42% | 17% | 63.7× | 48.2% | +23.6% |
| Magna International MG.TO | Canada | $16.1B | +4% | 0% | 6% | 8.2× | 0.1% | +6.0% |
| Schaeffler SHA0.DE | Germany | $5.83B | -45% | -1% | 2% | 18.4× | 10.7% | +13.3% |
| Brembo BRE.MI | Italy | $5.62B | -11% | -3% | 7% | 13.7× | 17.3% | +10.9% |