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EMREmerson Electric

Industrials · Electrical Equipment · NYSE

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FY2026 at a glance

Sales up 5.4%, free cash flow up to $3.5B

XBRL, from each 10-K

RevenueStatements ↓

$19.0B

from $18.0B in FY2025

FY2017FY2026

Net incomeStatements ↓

$2.7B

from $2.3B in FY2025

FY2017FY2026

Free cash flowStatements ↓

$3.5B

from $2.7B in FY2025

FY2017FY2026

EPS (diluted)Statements ↓

$4.79

from $4.00 in FY2025

FY2017FY2026

Total debtStatements ↓

$12.2B

from $13.1B in FY2025

FY2017FY2026

Price and key numbers

The latest figures

All key numbers (36, from the latest 10-K and 10-Q) From EDGAR

EPS (ttm)	4.79	Sales (ttm)	19.0B	Net income (ttm)	2.7B	Sales growth	+5.4%	EPS growth	+19.8%	Sales Q/Q	-
Free cash flow	3.5B	Gross margin	53.4%	Oper. margin	-	Net margin	14.2%	FCF margin	18.6%	ROE	13.0%
ROA	6.4%	R&D / sales	4.3%	Dividend	2.22	Debt/Eq	0.59	Curr. ratio	0.94	Cash	1.8B
Op. cash flow (ttm)	4.0B	Net debt	10.4B	Quick ratio	0.70	Payout ratio	46.3%	Tax rate	22.8%	Stock pay / sales	1.2%
Shares out.	548.6M	Shares Y/Y	-0.8%	Book / share	37.81	Cash / share	3.29	Sales / share	34.60	Asset turnover	0.45
Inventory turns	3.64	Days sales out.	64	Sales 3Y CAGR	+7.8%	Sales 5Y CAGR	+8.0%	EPS 3Y CAGR	-40.6%	EPS 5Y CAGR	+4.6%

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2026 against FY2025

Free cash flow rose 33%$2.7B → $3.5B · Cash from operations − capital expenditure · 10-K ↗

What management wrote about it → · Every company →

EMR against Industrials peers

Ten years, side by side → · All 83 →

EMRPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 83 companies, the better end on the right. Hover a dot for the company.

Sales growth

+5.4%40th of 82 · median +4.8%

Net margin

14.2%31st of 82 · median 13.0%

Return on equity

13.0%64th of 77 · median 24.9%

Free cash flow margin

18.6%17th of 79 · median 13.0%

Debt / equity (less is better)

0.5930th of 72 · median 0.72

EMR and the 5 peers closest in revenue
Company	Revenue (ttm)	Sales growth	Gross margin	Net margin	ROE	FCF margin	Debt / equity
EMR Emerson Electric	$19.0B	+5.4%	53.4%	14.2%	13.0%	18.6%	0.59
EME Emcor	$19.8B	+16.6%	19.6%	7.8%	36.1%	7.5%	-
RSG Republic Services	$19.7B	+3.3%	36.7%	11.3%	18.2%	13.0%	1.15
GWW W. W. Grainger	$19.4B	+4.5%	39.4%	11.2%	49.8%	8.9%	0.67
CHRW C.H. Robinson	$18.2B	-8.4%	-	3.7%	42.3%	2.9%	1.18
LDOS Leidos	$17.8B	+3.1%	17.3%	8.0%	27.4%	11.0%	1.17

Where each dollar goes

FY2022FY2024FY2025FY2026

From $13.8B of sales to $3.2B of profit

FY2022, from the 10-K income statement

Swipe sideways for the whole flow →

From $17.5B of sales to $2.0B of profit

FY2024, from the 10-K income statement

Swipe sideways for the whole flow →

From $18.0B of sales to $2.3B of profit

FY2025, from the 10-K income statement

Swipe sideways for the whole flow →

From $19.0B of sales to $2.7B of profit

FY2026, from the 10-K income statement

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2022

$54$22$23

FY2024

$49$40$11

FY2025

$47$40$13

FY2026

$47$39$14

Cost of revenue
Costs, tax, other
Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

2 of 4

✓
Net margin above the peer median14.2% vs 13.0%
!
Gross margin down over 5 years58.5% → 53.4%
!
Return on equity below 15%13.0%
✓
A profit in every one of 10 years

Net margin, FY2017 to FY2026: 9.9% → 14.2%

Balance sheet

2 of 3

✓
Debt smaller than equityDebt / equity 0.59 on the latest balance sheet (peer median 0.72)
!
Current ratio below 1Current ratio 0.94
✓
Net debt under 3 years of free cash flow$10.4B net debt, 2.9 years

Debt / equity at each year end, FY2017 to FY2026: 0.53 → 0.59

What the debt is made of ↓

Cash and shareholders

4 of 4

✓
Free cash flow positive in every one of 10 years$3.5B last year
✓
Share count down over 5 years−6.6%
✓
Dividend per share up over 5 years$2.02 → $2.22
✓
Cash from operations above net income$4.0B vs $2.7B

Free cash flow, FY2017 to FY2026: 1.4B → 3.5B

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Debt

$3.2B of principal due, schedule of Sep 30, 2026

Repayment schedule →

From the balance sheet in the latest 10-K or 10-Q (XBRL). When each part falls due, year by year, and the debt note's own lines are on the Debt tab.

Revenue and net income, FY2017 to FY2026

Revenue 19.0B Net income 2.7B

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

EMR's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly

Revenue19.0B

Net income2.7B

Free cash flow3.5B

EPS (diluted)4.79

Dividend per share2.22

Diluted shares562.0M

Revenue by product or service

year to Sep 30, 2026

	Revenue	Share	vs year before
Intelligent Devices	10.5B	55.3%	+4.1%
Software And Control	6.3B	33.3%	+8.5%

10-K 0000032604-26-000054, segment and revenue notes (XBRL).

Revenue by region

year to Sep 30, 2026

	Revenue	Share	vs year before
U.S. Plans	8.1B	42.5%	+8.9%
China	1.8B	9.3%	-3.1%

10-K 0000032604-26-000054, segment and revenue notes (XBRL).

Income statement

From EDGAR

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	15.3B	17.4B	18.4B	16.8B	12.9B	13.8B	15.2B	17.5B	18.0B	19.0B
Cost of revenue	8.8B	10.0B	10.6B	9.8B	7.2B	7.5B	7.7B	8.6B	8.5B	8.9B
Gross profit	6.4B	7.4B	7.8B	7.0B	7.6B	6.3B	7.4B	8.9B	9.5B	10.1B
R&D	340.0M	436.0M	454.0M	439.0M	347.0M	385.0M	523.0M	781.0M	771.0M	812.0M
SG&A	3.6B	4.3B	4.5B	4.0B	3.5B	3.6B	4.2B	5.1B	5.1B	5.3B
Interest expense	-	-	-	-	147.0M	-	-	-	-	-
Pretax income	2.3B	2.7B	2.9B	2.3B	1.8B	2.4B	2.9B	2.0B	2.9B	3.5B
Income tax	660.0M	443.0M	531.0M	345.0M	346.0M	549.0M	642.0M	420.0M	690.0M	796.0M
Net income	1.5B	2.2B	2.3B	2.0B	2.3B	3.2B	13.2B	2.0B	2.3B	2.7B
EPS (diluted)	2.35	3.46	3.71	3.24	3.82	5.41	22.88	3.44	4.00	4.79
Diluted shares	643.4M	635.3M	620.6M	606.6M	601.8M	596.3M	577.3M	574.0M	566.7M	562.0M
Depreciation & amortization	636.0M	758.0M	822.0M	854.0M	762.0M	842.0M	1.1B	1.7B	1.5B	1.5B
Gross margin	42.0%	42.7%	42.5%	41.8%	58.5%	45.7%	49.0%	50.8%	52.8%	53.4%
Net margin	9.9%	12.7%	12.6%	11.7%	17.8%	23.4%	87.2%	11.3%	12.6%	14.2%
Revenue growth	-	+14.0%	+5.5%	-8.6%	-23.0%	+6.7%	+9.9%	+15.3%	+3.0%	+5.4%
EPS growth	-	+47.2%	+7.2%	-12.7%	+17.9%	+41.6%	+323%	-85.0%	+16.3%	+19.8%

Balance sheet

From EDGAR

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash	3.1B	1.1B	1.5B	3.3B	2.4B	1.8B	8.1B	3.6B	1.5B	1.8B
Receivables	3.1B	3.0B	3.0B	2.8B	3.0B	2.3B	2.5B	2.9B	3.1B	3.3B
Inventory	1.7B	1.8B	1.9B	1.9B	2.0B	1.7B	2.0B	2.2B	2.2B	2.4B
Current assets	8.3B	6.6B	7.1B	8.8B	8.4B	8.5B	13.8B	10.2B	8.6B	9.5B
Property & equipment	3.3B	3.6B	3.6B	3.7B	3.7B	2.2B	2.4B	2.8B	2.9B	2.9B
Goodwill	5.3B	6.5B	6.5B	6.7B	7.0B	13.9B	14.5B	18.1B	18.2B	18.1B
Total assets	19.6B	20.4B	20.5B	22.9B	24.7B	35.7B	42.7B	44.2B	42.0B	41.8B
Accounts payable	1.8B	1.9B	1.9B	1.7B	2.1B	1.3B	1.3B	1.3B	1.4B	1.7B
Current liabilities	5.0B	6.2B	6.0B	5.8B	6.2B	7.8B	5.0B	5.7B	9.8B	10.1B
Total debt	4.7B	4.8B	5.7B	7.5B	6.7B	10.4B	8.2B	7.7B	13.1B	12.2B
Shareholders' equity	8.7B	8.9B	8.2B	8.4B	9.9B	10.4B	20.7B	21.6B	20.3B	20.7B
Retained earnings	22.0B	23.1B	24.2B	25.0B	26.0B	28.1B	40.1B	40.8B	40.3B	41.8B

Cash flow

From EDGAR

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Operating cash flow	1.9B	2.9B	3.0B	3.1B	3.6B	2.9B	637.0M	3.3B	3.1B	4.0B
Capital spending	476.0M	617.0M	594.0M	538.0M	404.0M	299.0M	363.0M	419.0M	431.0M	443.0M
Free cash flow	1.4B	2.3B	2.4B	2.5B	3.2B	2.6B	274.0M	2.9B	2.7B	3.5B
Stock-based pay (added back)	110.0M	216.0M	120.0M	110.0M	197.0M	125.0M	250.0M	260.0M	263.0M	237.0M
Dividends paid	1.2B	1.2B	1.2B	1.2B	1.2B	1.2B	1.2B	1.2B	1.2B	1.2B
Buybacks	400.0M	1.0B	1.2B	942.0M	500.0M	500.0M	2.0B	435.0M	1.2B	1.0B
Acquisitions	3.0B	2.2B	469.0M	126.0M	1.6B	5.7B	705.0M	8.3B	37.0M	6.0M
Debt raised	0	0	1.7B	2.2B	0	3.0B	0	0	1.5B	0
Debt repaid	254.0M	241.0M	656.0M	503.0M	308.0M	522.0M	741.0M	547.0M	503.0M	588.0M
Investing cash flow	1.5B	-2.7B	-1.2B	-740.0M	-2.1B	-5.3B	12.4B	-5.4B	-593.0M	-455.0M
Financing cash flow	-3.6B	-2.1B	-1.4B	-509.0M	-2.4B	2.0B	-6.8B	-2.5B	-4.5B	-3.2B
Dividend per share	1.92	1.94	1.96	2.00	2.02	2.06	2.08	2.10	2.11	2.22

Stock-based pay and leases

From EDGAR

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Stock-based pay (expense)	110.0M	216.0M	120.0M	110.0M	197.0M	125.0M	250.0M	260.0M	263.0M	237.0M
Stock-based pay / revenue	0.7%	1.2%	0.7%	0.7%	1.5%	0.9%	1.6%	1.5%	1.5%	1.2%
Operating lease cost	-	-	-	207.0M	169.0M	160.0M	178.0M	208.0M	201.0M	201.0M
Operating lease cash paid	-	-	-	201.0M	167.0M	163.0M	170.0M	202.0M	190.0M	196.0M
Right-of-use assets	-	-	0	508.0M	558.0M	439.0M	550.0M	692.0M	637.0M	667.0M
Operating lease liabilities	-	-	0	521.0M	568.0M	492.0M	548.0M	669.0M	643.0M	694.0M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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