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Screener / SEC EDGAR /CIK 0001024478 /10-K filed Nov 12, 2026, compared with Nov 12, 2025 /Numbers from the XBRL of the 10-Ks
NYSE Industrials · Measuring Instruments

Rockwell Automation ROK

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The 10-K against last year's

110 changes: 17 added, 22 removed, 71 reworded

10-K Nov 12, 2026 vs Nov 12, 2025
Risk Factors 10.6% of the text changed · 5,018 words now · 3 new paragraphs, 1 gone MD&A 25.1% of the text changed · 9,364 words now · 14 new paragraphs, 21 gone Legal Proceedings 0.1% of the text changed · 1,062 words now Accounting Policies 12.8% of the text changed · 5,246 words now

10-K 0001024478-26-000048 (Nov 12, 2026) vs 10-K 0001024478-25-000116 (Nov 12, 2025)

How much changed, year by year

Share of the words in each section that changed from the 10-K before it. Darker is more.

3 10-Ks
Section202420252026
Risk Factors first 10% 11%
MD&A first 24% 25%

Word for word, the same comparison as the tiles above, run for every pair of 10-Ks in a row. Hover a cell for the paragraphs added and removed.

Every paragraph, and how much of it changed

One bar per paragraph, in the order of the 10-K. Height and colour show the share of its words not in the closest paragraph a year earlier; the tallest bars are new paragraphs.

Risk Factors

69 paragraphs · 3 new · 13 reworded · 1 gone · 10-K Nov 12, 2026 against Nov 12, 2025
New paragraph Reworded (5% of its words or more) Same or nearly
Paragraph 26 · 35% changed Every version of it
The current cyber threat environment indicates increased risk for all companies, including those in industrial automation and information technology, and the adoption of AI has resulted in more sophisticated attacks, increasing our risk exposure. Like other global companies, we have experienced cyber threats and incidents, although none have been material or had a material adverse effect on our business or financial condition. Our information security efforts include programs designed to address security governance, compliance, risk management, secure development and engineering, data protection, insider risk, third-party risk, security awareness, access management, incident response, and security operations in support of enterprise security and product security. We believe these measures reduce, but cannot eliminate, the risk of a cybersecurity incident internally or externally. Any significant security incidents could have an adverse impact on sales, harm our reputation, and cause us to incur legal liability and increased costs to address such events and related security concerns.
Paragraph 30 · 22% changed Every version of it
Our hardware and software products, services and solutions are used by our customers in applications that may be subject to information theft, tampering, sabotage, or cyber-attacks. Careless or malicious actors could cause a customer’s process to be disrupted or could cause equipment to operate in an improper manner, resulting in harm to people or property. To a significant extent, the security of our customers’ systems depends on how those systems are designed, installed, protected, configured, updated, and monitored, and much of this is typically outside our control. In addition, both software and hardware supply chains can introduce security vulnerabilities into many technologies across the industry. Past global cyber-attacks have also been perpetuated by compromising software and firmware updates in widely used software products, posing the risk that vulnerabilities or malicious content could be inserted into our products. As part of our product security program, we periodically publish product security advisories with recommended mitigation measures; however, customer adoption of those mitigation measures is outside of our control. In some cases, especially if the mitigation measures are not implemented, it is possible that malware attacks could spread throughout the supply chain, moving from one company to the next via authorized network connections. We have also designed a Secure Development Lifecycle Program that incorporates appropriate security activities into the necessary development and support practices for our commercial product offerings. The Secure Development Lifecycle Program is audited annually by third-party firms. Our Third-Party Risk Program manages risk posed by our suppliers used in the development of our commercial product offerings. While we continue to improve the security attributes of our commercial product offerings, we can reduce risk, risk but not eliminate it. While we believe that threat actors’ successful access to and manipulation of some of our customer-owned industrial control systems would not have a material impact on our company, we cannot not rule out reputational harm or an adverse effect to our financial condition.
Paragraph 27 · 21% changed Every version of it
The current cyber threat environment indicates increased risk for all companies, including those in industrial automation and information technology, and the adoption of AI has resulted in more sophisticated attacks, increasing our risk exposure. Like other global companies, we have experienced cyber threats and incidents, although none have been material or had a material adverse effect on our business or financial condition. Our information security efforts include programs designed to address security governance, compliance, risk management, secure development and engineering, data protection, insider risk, third-party risk, security awareness, access management, incident response, and security operations in support of enterprise security and product security. We believe these measures reduce, but cannot eliminate, the risk of a cybersecurity incident internally or externally. Any significant security incidents could have an adverse impact on sales, harm our reputation, and cause us to incur legal liability and increased costs to address such events and related security concerns.
Paragraph 17 · 14% changed Every version of it
Our business requires that we buy equipment, equipment and components, services including finished products, electronic components, commodities, and commodities. services. Our reliance on suppliers involves certain risks, including:
Paragraph 61 · 10% changed Every version of it
Compliance with digital data, privacy and cybersecurity laws and regulations (including the emerging European Union Union’s Cyber Resiliency Act) Act, Digital Data Act, and Machinery Regulation) could increase our operating costs in managing product compliance (including potentially facing more rigorous design requirements) and as part of our efforts to protect and safeguard our sensitive data, personal information, and IT infrastructure. These requirements could potentially have an adverse effect on our ability to do business in certain jurisdictions. Changes in these requirements could impact demand for our hardware and software products, solutions, and services. Failure to maintain information privacy and security could result in legal liability or reputational harm.
Paragraph 62 · 7% changed Every version of it
As global standards and regulations relating to AI increase and change, it could result in additional costs, reputational harm, legal liability, and regulatory scrutiny related to our use of AI. AI, including embedded in our products and services. Additionally, misuse of sensitive data used in AI models may lead to privacy violations or non-compliance with data protection laws.
Paragraph 59 · 6% changed Every version of it
We are increasingly required to comply with various environmental and other material, product, certification, material and product certification and labeling laws and regulations (including the emerging European Union Eco-design for Sustainable Products Regulation). Our customers may also be required to comply with such legislative and regulatory requirements. These requirements could increase our costs and could potentially have an adverse effect on our ability to do business in certain jurisdictions. Changes in these requirements could impact demand for our hardware and software products, solutions, and services.
Paragraph 55 · 6% changed Every version of it
•difficulties maintaining relationships with our joint venture and other strategic partners (including as a result of such joint venture and other strategic partners having differing business objectives) and managing disputes with such joint venture and other strategic partners that may arise in connection with our relationships with them; and

MD&A

144 paragraphs · 14 new · 54 reworded · 21 gone · 10-K Nov 12, 2026 against Nov 12, 2025
New paragraph Reworded (5% of its words or more) Same or nearly
Paragraph 69 · 49% changed
Purchase accounting depreciation and amortization, and impairment expense Amortization of acquisition-related intangible assets was $365 $120 million in fiscal 2025 2026 compared to $144 $141 million in fiscal 2024. 2025. The increase decrease was primarily due to a $224 million non-cash impairment charge related to the dissolution of the Sensia joint venture, or $110 million including the impact of non-controlling interest and tax effects. venture.
Paragraph 75 · 46% changed
Fiscal 2025 2026 Net income attributable to Rockwell Automation was $1,409 million or $12.54 per share, compared to $869 million or $7.67 per share, compared to $953 million or $8.28 per share in fiscal 2024. 2025. The decreases increases in Net income attributable to Rockwell Automation and diluted EPS were primarily due to lower higher pre-tax margin and a higher effective tax rate. Pre-tax margin income. Adjusted EPS was 11.0% $13.42 in 2025 fiscal 2026, up 27 percent compared to 13.3% $10.53 in 2024. The decrease was fiscal 2025, primarily due to higher compensation, the non-cash impairment charge related to the Sensia joint venture, and an accounting change and accrual increase for legacy asbestos liabilities, partially offset by productivity, price realization, and prior year restructuring charges. Adjusted EPS was $10.53 in fiscal 2025, up 7 percent compared to $9.85 in fiscal 2024, primarily due to higher segment Enterprise operating margin. Total segment operating margin was 20.4% in 2025 compared to 19.3% in 2024. The increase in total segment operating margin was primarily due to productivity, higher sales driven by price realization, and favorable mix, partially offset by higher compensation and unfavorable net currency. profit.
Paragraph 73 · 45% changed
The effective tax rate in 2025 fiscal 2026 was 18.3 16.5 percent compared to 13.8 18.3 percent in 2024. fiscal 2025. The increase decrease in the effective tax rate is related due to valuation allowances and the absence of certain Sensia-related tax effects impacts from the non-cash impairment charge for the Sensia joint venture 2025 and higher discrete tax benefits in 2024 as compared 2026, including a benefit related to 2025. the dissolution of the Sensia joint venture, partially offset by Base Erosion and Profit Shifting (BEPS) Pillar Two minimum taxes. The Adjusted Effective Tax Rate in 2025 fiscal 2026 was 17.1 19.6 percent compared to 15.3 17.1 percent in 2024. fiscal 2025. The increase in the Adjusted Effective Tax Rate was primarily due to the application of BEPS Pillar Two minimum taxes, partially offset by higher discrete tax benefits in 2024 as compared to 2025. benefits.
Paragraph 99 · 43% changed
Our Short-term debt as of September 30, 2025 and 2024, includes commercial paper borrowings of $522 million and $657 million, with a weighted average interest rate of 4.24 percent and 5.14 percent, and a weighted average maturity period of 16 days and 24 days, respectively. In December 2022, Sensia entered into an unsecured $75 million line of credit. As of September 30, 2025 and 2024, 2025, included in Short-term debt was $70 million borrowed against the line of credit with an interest rate of 5.18 percent and 6.17 percent, respectively. percent. Also included in Short-term debt as of September 30, 2025, and September 30, 2024, was $14 million and $42 million, respectively, of were the following interest-bearing loans from Schlumberger (SLB) SLB to Sensia. In April 2025, Sensia: $14 million in Short-term debt, and $42 million in Long-term debt. In December 2025, the credit line matured and was closed. The outstanding debt was settled with loans from the joint venture partners. Upon dissolution of new the Sensia joint venture, interest-bearing loans from SLB to Sensia were entered into, and assumed by SLB. Refer to Note 1 in October 2025, these loans were extended to January 15, 2026. The loans outstanding as of September 30, 2024, were extended to October 15, 2026, and are included in Long-term debt as of September 30, 2025. the Consolidated Financial Statements for additional details on the dissolution.
Paragraph 68 · 42% changed
Corporate and other expenses were $116 million in fiscal 2026 compared to $125 million in fiscal 2025 compared to $114 million in fiscal 2024. Legacy asbestos and environmental charges were previously included in Corporate and other. All periods have been recast to conform with current year presentation. 2025.
Paragraph 98 · 39% changed
Our Short-term debt as of September 30, 2025 2026 and 2024, includes 2025, included commercial paper borrowings of $522 $707 million and $657 $522 million, with a weighted average interest rate of 4.24 4.06 percent and 5.14 4.24 percent, and a weighted average maturity period of 16 19 days and 24 16 days, respectively. In December 2022, Sensia entered into an unsecured $75 million line of credit. As of September 30, 2025 and 2024, included in Short-term debt was $70 million borrowed against the line of credit with an interest rate of 5.18 percent and 6.17 percent, respectively. Also included in Short-term debt as of September 30, 2025, and September 30, 2024, was $14 million and $42 million, respectively, of interest-bearing loans from Schlumberger (SLB) to Sensia. In April 2025, $14 million of new interest-bearing loans from SLB to Sensia were entered into, and in October 2025, these loans were extended to January 15, 2026. The loans outstanding as of September 30, 2024, were extended to October 15, 2026, and are included in Long-term debt as of September 30, 2025.
Paragraph 52 · 38% changed
We continue to manage the impact of tariffs through actions including pricing and other supply chain actions, including the use of alternative sources of materials and redundant manufacturing locations. Resiliency Supply chain resiliency actions we took taken in recent years enable us to build manufacture certain high value high-value product lines in more than one multiple geographic location. In consideration of locations. We continue to expect these mitigating actions, actions to mostly offset tariff-related costs, although the dynamic tariff costs are expected environment could affect our ability to be neutral to EPS in fiscal 2026. fully recover these costs.
Paragraph 97 · 36% changed
Cash provided by operating activities was $1,958 million for the year ended September 30, 2026, compared to $1,544 million for the year ended September 30, 2025, compared to $864 2025. Free cash flow was $1,701 million for the year ended September 30, 2024. Free cash flow was 2026, compared to $1,358 million for the year ended September 30, 2025, compared to $639 million for the year ended September 30, 2024. 2025. The year-over-year increases in cash provided by operating activities and free cash flow were primarily due to cost reduction higher pre-tax income and other margin expansion initiatives, no payout $108 million of incentive compensation in the first quarter of fiscal 2025 tariff refunds and related to fiscal 2024 performance, and lower tax payments, partially offset by a voluntary pre-tax contribution of $70 million to the company's U.S. pension plan. interest income.

A paragraph is matched with the one last year that shares the most of its words; under half in common makes it new. The paragraphs shown are the 8 reworded the most in each section.

The paragraph that changed most in each section

The redline

Marked against last year's 10-K: cut words struck through, new words highlighted.

MD&A357 words changed in this paragraph; it is 54% similar to last year's version.
Year Ended September 30, 2026 2025 2024 2023 Net income attributable to Rockwell Automation $ 1,409 $ 869 $ 953 $ 1,387 Non-operating pension and postretirement benefit (credit) cost (credit) (2) 1 (20) 83 Tax effect of non-operating pension and postretirement benefit (credit) cost (credit) — (1) 4 (21) Purchase accounting depreciation and amortization, and impairment Amortization of acquisition-related intangible assets attributable to Rockwell Automation (1) 249 119 130 133 178 Tax effect of purchase accounting depreciation and amortization, and impairment amortization of acquisition-related intangible assets attributable to Rockwell Automation (1) (38) (29) (29) (25) Impairment of intangible assets attributable to Rockwell Automation — 119 — Tax effect of impairment of intangible assets attributable to Rockwell Automation — (9) — Net legacy asbestos and environmental charges (2) 154 21 18 Tax effect of net legacy asbestos and environmental charges (2) — (37) (5) (4) Change in Gain or loss on fair value of investments 7 3 — (279) Tax effect of change in gain or loss on fair value of investments (2) (1) — 68 Restructuring charges 25 (5) 97 — Tax effect of restructuring charges (7) 1 (25) Charitable contributions 50 — — Tax effect of charitable contributions (12) — — Gain on dissolution of Sensia, net of transaction costs, attributable to Rockwell Automation (5) — — Tax and tax items associated with gain on dissolution of Sensia, net of transaction costs, attributable to Rockwell Automation (44) — — Adjusted Income (2) $ 1,507 $ 1,195 $ 1,133 $ 1,421 Diluted EPS $ 12.54 $ 7.67 $ 8.28 $ 11.95 Non-operating pension and postretirement benefit (credit) cost (credit) (0.02) 0.01 (0.17) 0.72 Tax effect of non-operating pension and postretirement benefit (credit) cost (credit) — (0.01) 0.03 (0.18) Purchase accounting depreciation and amortization, and impairment Amortization of acquisition-related intangible assets attributable to Rockwell Automation 2.20 1.06 1.15 1.16 1.54 Tax effect of purchase accounting depreciation and amortization, and impairment amortization of acquisition-related intangible assets attributable to Rockwell Automation (0.34) (0.26) (0.26) (0.22) Impairment of intangible assets attributable to Rockwell Automation — 1.05 — Tax effect of impairment of intangible assets attributable to Rockwell Automation — (0.08) — Net legacy asbestos and environmental charges (0.02) 1.36 0.18 0.16 Tax effect of net legacy asbestos and environmental charges — (0.33) (0.04) (0.03) Change in Gain or loss on fair value of investments 0.06 0.02 — (2.42) Tax effect of change in gain or loss on fair value of investments (0.02) (0.01) (0.01) 0.59 Restructuring charges 0.23 (0.05) 0.85 — Tax effect of restructuring charges (0.06) 0.01 (0.21) Charitable contributions 0.45 — — Tax effect of charitable contributions (0.11) — — Gain on dissolution of Sensia, net of transaction costs, attributable to Rockwell Automation (0.04) — — Tax and tax items associated with gain on dissolution of Sensia, net of transaction costs, attributable to Rockwell Automation (0.39) — — Adjusted EPS $ 13.42 $ 10.53 $ 9.85 $ 12.25 Effective tax rate 18.3 % 13.8 % 20.5 % Tax effect of non-operating pension and postretirement benefit cost (credit) 0.1 % (0.1) % 0.3 % Tax effect of purchase accounting depreciation and amortization, and impairment attributable to Rockwell Automation (2.5) % 0.4 % (3.7) % Tax effect of net legacy asbestos and environmental charges 1.1 % 0.2 % 0.1 % Tax effect of change in fair value of investments 0.1 % 0.1 % (0.7) % Tax effect of restructuring charges — % 0.9 % — % Adjusted Effective Tax Rate 17.1 % 15.3 % 16.5 %

Source: Item 7, 10-K 0001024478-26-000048 vs Item 7, 10-K 0001024478-25-000116

Risk Factors182 words changed in this paragraph; it is 38% similar to last year's version.
Our hardware and software products, services and solutions are used by our customers in applications that may be subject to information theft, tampering, sabotage, or cyber-attacks. Careless or malicious actors could cause a customer’s process to be disrupted or could cause equipment to operate in an improper manner, resulting in harm to people or property. To a significant extent, the security of our customers’ systems depends on how those systems are designed, installed, protected, configured, updated, and monitored, and much of this is typically outside our control. In addition, both software and hardware supply chains can introduce security vulnerabilities into many technologies across the industry. Past global cyber-attacks have also been perpetuated by compromising software updates in widely used software products, posing the risk that vulnerabilities or malicious content could be inserted into our products. In some cases, it is possible that malware attacks could spread throughout the supply chain, moving from one company to the next via authorized network connections. We have designed a Secure Development Lifecycle Program that incorporates appropriate security activities into the necessary development and support practices for our commercial product offerings. The Secure Development Lifecycle Program is audited annually by third-party firms. Our Third-Party Risk Program manages risk posed by our suppliers used in the development of our commercial product offerings. While we continue to improve the security attributes of our commercial product offerings, we can reduce risk, but not eliminate it.

Source: Item 1A, 10-K 0001024478-26-000048 vs Item 1A, 10-K 0001024478-25-000116

Accounting Policies73 words changed in this paragraph; it is 73% similar to last year's version.
Significant assumptions used in the income approach include: management’s forecasted cash flows, including estimated future revenue growth rates and Earnings Before Interest, Taxes, Depreciation, and Amortization (“EBITDA”) (EBITDA) margins, and a discount rate. Forecasts of future revenue growth and margins are based on management’s best estimates. Actual results and forecasts of revenue growth and margins for the Sensia reporting unit may be impacted by its concentration within the Oil & Gas industry and with its customer base. Demand for Sensia hardware and software products, solutions, and services is sensitive to industry volatility and risks, including those related to commodity prices, supply and demand dynamics, production costs, geological activity, and political activities. The discount rate is determined using a weighted average cost of capital adjusted for risk factors specific to the reporting unit, including risks associated with our above market revenue growth assumptions, historical performance, and industry-specific and economic factors. Significant assumptions used in the market multiples approach include the selection of the comparable public companies and calculation selection of the appropriate market multiples.

Source: Item 8, Note 1 – Basis of Presentation and Accounting Policies, 10-K 0001024478-26-000048 vs Item 8, Note 1 – Basis of Presentation and Accounting Policies, 10-K 0001024478-25-000116

Legal Proceedings2 words changed in this paragraph; it is 99% similar to last year's version.
We have, from time to time, divested certain of our businesses. In connection with these divestitures, certain lawsuits, claims, and proceedings may be instituted or asserted against us related to the period that we owned the businesses, either because we agreed to retain certain liabilities related to these periods or because such liabilities fall upon us by operation of law. In some instances instances, the divested business has assumed the liabilities; however, it is possible that we might be responsible to satisfy those liabilities if the divested business is unable to do so. We do not believe these liabilities will have a material effect on our business, financial condition, or results of operations.

Source: Item 3, via Note 17 – Commitments and Contingencies, 10-K 0001024478-26-000048 vs Item 3, via Note 17 – Commitments and Contingent Liabilities, 10-K 0001024478-25-000116

Sentences and paragraphs added, removed or reworded

Every change, by type

Sentences and paragraphs of ROK's Risk Factors and MD&A, 10-K Nov 12, 2026 against 10-K Nov 12, 2025. Each links to the text at sec.gov.

All 110 Added 17Removed 22Reworded 71Quiet changes 0
RewordedRisk Factors
Our ERM process assesses, manages, and monitors risks consistent with the integrated risk framework in the Enterprise Risk Management - Integrated Framework (2017) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). (COSO) in the Enterprise Risk Management - Integrated Framework (2017) and Applying the COSO ERM Framework (2020).
Read it in 10-K Nov 12, 2026 at sec.gov
RewordedRisk Factors
Compliance with digital data, privacy and cybersecurity laws and regulations (including the emerging European Union Union’s Cyber Resiliency Act) Act, Digital Data Act, and Machinery Regulation) could increase our operating costs in managing product compliance (including potentially facing more rigorous design requirements) and as part of our efforts to protect and safeguard our sensitive data, personal information, and IT infrastructure.
Read it in 10-K Nov 12, 2026 at sec.gov
RewordedRisk Factors
In addition, our ability to recover cost increases and maintain profitability levels through price adjustments may be limited by competitive pressures, customer acceptance, and contractual limitations. limitations, including when price increases lag underlying cost increases.
Read it in 10-K Nov 12, 2026 at sec.gov
RewordedRisk Factors
As global standards and regulations relating to AI increase and change, it could result in additional costs, reputational harm, legal liability, and regulatory scrutiny related to our use of AI. AI, including embedded in our products and services.
Read it in 10-K Nov 12, 2026 at sec.gov
RewordedRisk Factors
In some cases, especially if the mitigation measures are not implemented, it is possible that malware attacks could spread throughout the supply chain, moving from one company to the next via authorized network connections.
Read it in 10-K Nov 12, 2026 at sec.gov
RewordedRisk Factors
We In 2025, we announced our plan to invest over $2 billion over the next following five years in manufacturing facilities, digital infrastructure, and talent to support market share growth, operational resilience, and margin expansion.
Read it in 10-K Nov 12, 2026 at sec.gov
RewordedRisk Factors
We are increasingly required to comply with various environmental and other material, product, certification, material and product certification and labeling laws and regulations (including the emerging European Union Eco-design for Sustainable Products Regulation).
Read it in 10-K Nov 12, 2026 at sec.gov
Show the other 12
RewordedMD&A
Year Ended September 30, 2026 2025 2024 2023 Sales Intelligent Devices (a) $ 4,185 $ 3,756 $ 3,804 $ 4,098 Software & Control (b) 2,818 2,383 2,187 2,886 Lifecycle Services (c) 2,071 2,203 2,273 2,074 Other unallocated items (1) (85) — — Total sales (d) $ 8,989 $ 8,342 $ 8,264 $ 9,058 Segment operating earnings (1) (2) Intelligent Devices (e) $ 839 $ 676 $ 700 $ 828 Software & Control (f) 952 708 530 953 Lifecycle Services (g) 312 319 365 148 Total segment operating earnings (2) (h) 1,703 1,595 1,929 Purchase accounting depreciation and amortization, and impairment (365) (144) (264) Corporate and other (3) (116) (125) (114) (110) Other unallocated items (1) 10 — — Enterprise operating profit (4) (h) 1,997 1,578 1,481 Non-operating pension and postretirement benefit credit (cost) credit 2 (1) 20 (83) Amortization of acquisition-related intangible assets (5) (120) (141) (144) Impairment of intangible assets — (224) — Net legacy asbestos and environmental charges (3) 2 (154) (21) (18) Change in Gain or loss on fair value of investments (7) (3) — 279 Restructuring charges (25) 5 (97) Charitable contributions (50) — — Gain on dissolution of Sensia, net of transaction costs 4 — — Interest expense, net (118) (143) (139) (125) Income before income taxes (i) 1,685 917 1,100 1,608 Income tax provision (278) (168) (152) (330) Net income 1,407 749 948 1,278 Net loss attributable to noncontrolling interests (2) (120) (5) (109) Net income attributable to Rockwell Automation $ 1,409 $ 869 $ 953 $ 1,387 Diluted EPS $ 12.54 $ 7.67 $ 8.28 $ 11.95 Adjusted EPS (4) (6) $ 13.42 $ 10.53 $ 9.85 $ 12.25 Diluted weighted average outstanding shares 112.0 113.1 114.5 115.6 Pre-tax margin (i/d) 18.7 % 11.0 % 13.3 % 17.8 % Intelligent Devices segment operating margin (e/a) 20.0 % 18.0 % 18.4 % 20.2 % Software & Control segment operating margin (f/b) 33.8 % 29.7 % 24.2 % 33.0 % Lifecycle Services segment operating margin (g/c) 15.1 % 14.5 % 16.1 % 7.1 % Total segment Enterprise operating margin (2) (4) (h/d) 20.4 22.2 % 19.3 18.9 % 21.3 17.9 %
Read it in 10-K Nov 12, 2026 at sec.gov
RewordedMD&A
Effect of Effect of Organic Reported Sales Divestitures Sales Excluding Divestitures Acquisitions Changes in Sales Currency Intelligent Devices $ 4,185 $ $ 61 $ 4,124 $ 3,756 $ — $ (16) $ 3,772 $ 3,804 3,756 Software & Control 2,818 — 37 2,781 2,383 — (9) 2,392 2,187 2,383 Lifecycle Services 2,071 — 33 2,038 2,203 2 (4) 2,205 2,273 (128) 2,075 Other unallocated items (1) (85) — — (85) — — — Total Company Sales $ 8,989 $ $ 131 $ 8,858 $ 8,342 $ 2 (128) $ (29) $ 8,369 $ 8,264 8,214
Read it in 10-K Nov 12, 2026 at sec.gov
RewordedMD&A
We exclude purchase accounting depreciation from income before income taxes and amortization, and impairment, corporate and other, pre-tax margin, non-operating pension and postretirement benefit (cost) credit, credit (cost), amortization of acquisition-related intangible assets, impairment of intangible assets, net legacy asbestos and environmental charges, change in gain or loss on fair value of investments, restructuring charges aligned with enterprise-wide strategic initiatives, charitable contributions, gain on dissolution of Sensia, net of transaction costs, and interest expense, net because we do not consider these items to be directly related to the operating performance of our segments. enterprise.
Read it in 10-K Nov 12, 2026 at sec.gov
RewordedMD&A
Adjusted Income, Adjusted EPS, and Adjusted Effective Tax Rate are non-GAAP earnings measures that exclude non-operating pension and postretirement benefit cost (credit), purchase accounting depreciation and amortization, and (credit) cost, amortization of acquisition-related intangible assets, impairment attributable to Rockwell Automation, of intangible assets, net legacy asbestos and environmental charges, change in gain or loss on fair value of investments, and restructuring charges aligned with enterprise-wide strategic initiatives, gain on dissolution of Sensia, net of transaction costs, and charitable contributions, including their respective tax effects and related valuation allowances. discrete tax items.
Read it in 10-K Nov 12, 2026 at sec.gov
RewordedMD&A
Year Ended Year Ended Year Ended September 30, 2026 September 30, 2025 September 30, 2024 September 30, 2024 2025 North America $ 5,270 4% 4% 5,801 10% 11% Europe, Middle East and Africa 1,488 (1)% (3)% 1,603 8% 7% Asia Pacific 1,024 (5)% (4)% 1,108 8% 8% Latin America 560 (12)% (6)% 562 —% (7)% Other unallocated items (2) (85) (1)% (1)% Total Company Sales $ 8,342 1% 1% 8,989 8% 8%
Read it in 10-K Nov 12, 2026 at sec.gov
RewordedMD&A
The decrease was increases were primarily due to higher compensation, the prior year non-cash impairment charge related to the Sensia joint venture, and an accounting change and accrual increase for legacy asbestos liabilities, higher sales volume, price realization, favorable mix, productivity, and the net impact of IEEPA tariff refund related items, partially offset by productivity, price realization, higher compensation, a charitable contribution, and prior year restructuring charges.
Read it in 10-K Nov 12, 2026 at sec.gov
RewordedMD&A
Effect of Effect of Organic Reported Sales Divestitures Sales Excluding Divestitures Acquisitions Changes in Sales Currency North America $ 5,270 $ 2 $ (12) $ 5,280 $ 5,053 $ $ 5,053 Europe, Middle East and Africa 1,488 — 29 1,459 1,504 — 1,504 Asia Pacific 1,024 — (8) 1,032 1,073 — 1,073 Latin America 560 — (38) 598 634 — 634 Other unallocated items — — — — — — — Total Company Sales $ 8,342 $ 2 $ (29) $ 8,369 $ 8,264 $ $ 8,264
Read it in 10-K Nov 12, 2026 at sec.gov
RewordedMD&A
The latest survey, conducted in March 2025, 2026, showed a resilient EEI of 70 75, and a global inclusion index score of 74. 77, and our intent to stay index was 74, with all three scores at or above our industry benchmarks.
Read it in 10-K Nov 12, 2026 at sec.gov
RewordedMD&A
Cash provided by operating activities was $1,958 million for the year ended September 30, 2026, compared to $1,544 million for the year ended September 30, 2025, compared to $864 million for the year ended September 30, 2024. 2025.
Read it in 10-K Nov 12, 2026 at sec.gov
RewordedMD&A
Free cash flow was $1,701 million for the year ended September 30, 2026, compared to $1,358 million for the year ended September 30, 2025, compared to $639 million for the year ended September 30, 2024. 2025.
Read it in 10-K Nov 12, 2026 at sec.gov
RewordedMD&A
Effect of Effect of Organic Reported Sales Divestitures Sales Excluding Divestitures Acquisitions Changes in Sales Currency Intelligent Devices $ 3,756 $ — $ (16) $ 3,772 $ 3,804 $ $ 3,804 Software & Control 2,383 — (9) 2,392 2,187 — 2,187 Lifecycle Services 2,203 2 (4) 2,205 2,273 — 2,273 Other unallocated items — — — — — — — Total Company Sales $ 8,342 $ 2 $ (29) $ 8,369 $ 8,264 $ $ 8,264
Read it in 10-K Nov 12, 2026 at sec.gov
RewordedMD&A
Adjusted EPS was $13.42 in fiscal 2026, up 27 percent compared to $10.53 in fiscal 2025, up 7 percent compared to $9.85 in fiscal 2024, primarily due to higher segment Enterprise operating margin. profit.
Read it in 10-K Nov 12, 2026 at sec.gov

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