Gates Industrial Corp Ltd. GTES

Industrials SIC 3560 - General Industrial Machinery & Equipment NAICS Manufacturing › Machinery Manufacturing › Other General Purpose Machinery Manufacturing derived NYSE

We are a global manufacturer of innovative, highly engineered power transmission and fluid power solutions. We offer a broad portfolio of products to diverse aftermarket channel customers, and to original equipment manufacturers ("OEM") as specified components, with the majority of our revenue coming from aftermarket channels. Our products are used in applications across numerous end markets, including automotive aftermarket, automotive OEM, diversified industrial, industrial off-highway, industrial on-highway, energy and resources, and personal mobility. Our net sales have historically been, and remain, highly correlated with industrial activity and utilization, and not with any single end market given the diversification of our business and high exposure to the aftermarket channel. We sell our products globally under the Gates brand, which is recognized by distributors, equipment manufacturers, installers and end users as a premium brand for quality and technological innovation; this reputation has been built over more than 110 years since Gates' founding in 1911.

Last close 25.08 2026-10-23
Market cap $6.35B 2026-06-27 share count
52-week range 20.88 - 30.34

Valuation FY2025 figures against the last close

P/S1.8x
P/E26.1x
P/FCF15.7x
EV/EBITDA11.4x
Dividend yield—
Diluted EPS0.96

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $3.44B$3.41B$3.57B$3.55B$3.47B$2.79B$3.09B$3.35B$3.04B$2.75B
Cost of revenue $2.07B$2.05B$2.21B$2.30B$2.14B$1.76B$1.94B$2.02B$1.82B$1.69B
Gross profit $1.37B$1.36B$1.36B$1.25B$1.34B$1.03B$1.14B$1.33B$1.22B$1.06B
R&D $71.9M$66.5M$66.0M$69.4M$70.7M$67.2M$67.9M$71.4M$68.6M$68.5M
SG&A $876.1M$876.5M$884.7M$853.7M$852.7M$776.9M$777.3M$805.8M$777.1M$737.7M
Operating income $465.3M$472.2M$460.1M$384.0M$484.1M$211.1M$346.8M$496.8M$402.9M$305.3M
Interest expense $125.9M$155.8M$163.2M$139.4M$133.5M$154.3M$157.8M$175.9M$234.6M$216.3M
Pre-tax income $340.2M$328.0M$285.3M$257.8M$349.7M$71.0M$198.8M$303.5M$109.5M$93.0M
Income tax $63.1M$107.5M$28.3M$14.9M$18.4M$19.3M$495.9M$31.8M$72.5M$21.1M
Net income $276.3M$219.9M$256.4M$242.5M$331.3M$79.4M$690.1M$245.3M$151.3M$57.7M
EPS, basic 0.980.750.860.781.020.272.380.860.620.23
EPS, diluted 0.960.740.840.771.000.272.370.840.600.23
Shares, diluted (wtd. avg.) 260.5M264.7M275.6M287.6M297.3M292.1M291.6M291.7M250.5M248.4M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $812.1M$682.0M$724.0M$581.4M$660.9M$524.1M$636.6M$424.6M$566.0M—
Receivables $744.2M$722.7M$768.2M$808.6M$708.1M$695.0M$694.7M———
Inventory $700.0M$676.0M$647.2M$656.2M$682.6M$508.2M$475.1M———
Total current assets $2.48B$2.31B$2.40B$2.28B$2.28B$1.91B$1.96B———
Goodwill $2.04B$1.91B$2.04B$1.98B$2.06B$2.12B$2.06B$2.05B——
Other intangibles $1.19B$1.25B$1.39B$1.49B$1.64B$1.79B$1.88B———
Total assets $7.15B$6.79B$7.25B$7.19B$7.53B$7.43B$7.41B———
Short-term debt $36.2M$39.1M$36.5M$36.6M$38.1M$42.7M$46.1M———
Total current liabilities $735.4M$721.5M$779.3M$752.3M$855.9M$726.3M$658.1M———
Long-term debt $2.20B$2.31B$2.42B$2.43B$2.53B$2.67B$2.91B———
Total liabilities $3.46B$3.45B$3.71B$3.75B$4.05B$4.24B$4.40B———
Retained earnings $1.65B$1.48B$1.46B$1.48B$1.44B$1.15B$1.07B———
Total equity $3.33B$3.02B$3.54B$3.44B$3.48B$3.19B$3.01B$2.33B$1.43B—

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $478.1M$379.6M$481.0M$265.8M$382.4M$309.0M$348.9M$313.5M$319.9M$376.7M
Depreciation and amortisation $213.8M$216.9M$217.5M$217.2M$222.6M$218.6M$222.2M$218.5M$212.2M$240.8M
Stock-based compensation $27.2M$28.8M$27.4M$44.3M$24.6M$19.8M$15.0M$6.0M$5.4M$4.2M
Capital expenditure $73.2M$83.1M$61.2M$77.6M$77.7M$58.2M$72.1M$166.1M$101.1M$59.0M
Investing cash flow -$119.0M-$104.4M-$81.8M-$90.7M-$86.0M-$77.5M-$78.0M-$243.6M-$227.0M-$67.9M
Financing cash flow -$251.1M-$286.7M-$258.3M-$253.1M-$148.6M-$353.8M-$59.3M-$198.9M-$75.3M-$110.8M
Buybacks $119.3M$176.1M$251.7M$175.9M$10.6M$0$0$0$1.6M$2.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-026015.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 1B 2B 3B 4B Revenue, FY2016: 2.7B Gross profit, FY2016: 1.1B Net income, FY2016: 57.7M Revenue, FY2017: 3B Gross profit, FY2017: 1.2B Net income, FY2017: 151.3M Revenue, FY2018: 3.3B Gross profit, FY2018: 1.3B Net income, FY2018: 245.3M Revenue, FY2019: 3.1B Gross profit, FY2019: 1.1B Net income, FY2019: 690.1M Revenue, FY2020: 2.8B Gross profit, FY2020: 1B Net income, FY2020: 79.4M Revenue, FY2021: 3.5B Gross profit, FY2021: 1.3B Net income, FY2021: 331.3M Revenue, FY2022: 3.6B Gross profit, FY2022: 1.3B Net income, FY2022: 242.5M Revenue, FY2023: 3.6B Gross profit, FY2023: 1.4B Net income, FY2023: 256.4M Revenue, FY2024: 3.4B Gross profit, FY2024: 1.4B Net income, FY2024: 219.9M Revenue, FY2025: 3.4B Gross profit, FY2025: 1.4B Net income, FY2025: 276.3M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $2.75B $3.04B $3.35B $3.09B $2.79B $3.47B $3.55B $3.57B $3.41B $3.44B
Gross profit $1.06B $1.22B $1.33B $1.14B $1.03B $1.34B $1.25B $1.36B $1.36B $1.37B
Net income $57.7M $151.3M $245.3M $690.1M $79.4M $331.3M $242.5M $256.4M $219.9M $276.3M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
  • Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event Item 8.01
  • Shareholder vote Item 5.07

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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