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Gates Industrial Corp. Ltd. (GTES)

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Gates Industrial Corp. Ltd. (GTES) reported revenue of $942 million for Q2 FY2026, the quarter ended 27 June 2026, up 6.6% on the same quarter a year earlier. Net income was $171 million, up 202.5% on the year, and diluted earnings per share $0.67. The figures are the company's own, from the 10-Q it filed with the SEC on 31 July 2026.

Revenue$942 millionup 6.6%
Net income$171 millionup 202.5%
Diluted EPS$0.67
QuarterQ2 FY2026ended 27 June 2026

Gates Industrial (GTES) in brief

Gates Industrial (GTES) reported revenue of $3.4 billion for fiscal 2025, the year ended 31 December 2025, up 1.0% on the year before.
Read moreNet income was $251 million and diluted earnings per share $0.96. Revenue was $3.4 billion in fiscal 2024, $3.6 billion in fiscal 2023, $3.6 billion in fiscal 2022 and $3.5 billion in fiscal 2021. Net income in the same years was $195 million, $233 million, $221 million and $297 million. Over the twelve months to 27 June 2026, Gates Industrial reported revenue of $3.5 billion and net income of $364 million. Revenue grew 4.3% a year, compounded, over the five years to fiscal 2025. Gates Industrial had 253 million shares outstanding at the latest filed count. At 27 June 2026 it carried $2.2 billion of debt and $824 million of cash. At the close of 9 October 2026 the market cap of Gates Industrial was $6.8 billion, 18.9 times its earnings over the last twelve months.

Ratios

From the filings

ROE10.3%
ROCE8.1%
Operating margin13.3%
Net margin10.4%
FCF margin11.6%
Interest cover3.66
Debt to equity0.63
Cash conversion1.31
Share count, 1 year-1.7%
Sales CAGR, 3 years-1.1%
Profit CAGR, 3 years4.4%
EPS, TTM$1.41

At the close of 9 October 2026

Price$26.68
Market cap$6.8 billion
Stock P/E18.92
Price to book1.92
EV / EBITDA11.87
Dividend yieldn/a
Market cap / sales1.93
52-week high$29.84
52-week low$21.04
Price, 1 year5.5%
Price CAGR, 3 years32.7%
Price CAGR, 5 years10.1%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as Gates Industrial Corp. Ltd. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
GTESgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on GTES

Filings19 in twelve months: 7 current reports (8-K), about 4 results of operations; 2 other events; 2 shareholder vote; 1 regulation FD disclosure
Planned insider sales7 Form 144 notices in twelve months, $2.2 million; latest 6 August 2026
Options tapeput/call 0.63 by open interest at the 9 October 2026 close; the straddle prices a 4.3% move to 16 October 2026
13F holders0 of the followed funds hold it; 9 Schedule 13D or 13G filings in twelve months
Insider trading6 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest12.1 million shares short, 6.93 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024 †Q3 FY2024 †Q4 FY2024 *Q1 FY2025 †Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue873863863886831829848884856856851942
Cost of revenue530526533528495494503524514531513556
Gross profit343338330357336335345360342325338386
Gross margin39%39%38%40%40%40%41%41%40%38%40%41%
SG&A213216212221217220216231219208227251
Operating income126120117133116113126116115109110132
Operating margin14%14%14%15%14%14%15%13%13%13%13%14%
Interest expense39.538.437.549.135.134.129.628.834.932.629.930.0
Pre-tax income86.671.680.790.269.287.993.880.294.871.477.9100
Tax rate1%3%43%14%20%53%27%21%6%21%15%-78%
Net income78.762.940.070.747.636.662.056.581.651.359.7171
Net margin9%7%5%8%6%4%7%6%10%6%7%18%
Diluted EPS$0.29$0.24$0.15$0.26$0.18$0.14$0.24$0.22$0.31$0.20$0.23$0.67
Operating cash flow108189-21.093.81161917.310398.027030.278.6
Capital expenditure15.221.616.021.921.923.317.519.417.518.816.718.3
Free cash flow92.6168-37.071.994.0168-10.283.680.525113.560.3
Buybacks0.00.050.30.01260.013.00.00.010616.622.1
Shares outstanding264m264m261m262m255m255m257m257m258m254m254m253m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 10 fiscal years and the trailing twelve months

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023 †FY2024 †FY2025TTM
Revenue2,7473,0423,3483,0872,7933,4743,5543,5703,4083,4433,505
Cost of revenue1,6861,8242,0171,9451,7582,1352,3042,2112,0502,0722,114
Gross profit1,0611,2181,3311,1421,0351,3391,2511,3591,3581,3721,391
Gross margin38.6%40.0%39.7%37.0%37.0%38.5%35.2%38.1%39.9%39.8%39.7%
Research and development68.568.671.467.967.270.769.466.066.571.9n/a
Selling, general and administrative738777806777777853854885876876905
Operating income305403497347211484384460472465466
Operating margin11.1%13.2%14.8%11.2%7.6%13.9%10.8%12.9%13.9%13.5%13.3%
Interest expense216235176158154134139163156126127
Pre-tax income93.011030419971.0350258285328340344
Income tax21.1-72.531.8-496-19.318.414.928.310863.1-45.4
Effective tax rate22.7%-66.2%10.5%-249.4%-27.2%5.3%5.8%9.9%32.8%18.5%-13.2%
Net income57.715124569079.4297221233195251364
Net margin2.1%5.0%7.3%22.4%2.8%8.6%6.2%6.5%5.7%7.3%10.4%
Diluted EPS$0.23$0.60$0.84$2.37$0.27$1.00$0.77$0.84$0.74$0.96$1.41
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment

FY2023FY2024FY2025Share
latest year
Power Transmission2,1912,1082,14762.4%
Fluid Power1,3791,3001,29637.6%
Power TransmissionFluid Power
3,570FY20233,408FY20243,443FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023 †FY2024 †FY2025TTM
Operating cash flow377320314349309382266481380478477
Capital expenditure59.010116672.158.277.777.661.283.173.271.3
Free cash flow318219147277251305188420296405405
Free cash flow margin11.6%7.2%4.4%9.0%9.0%8.8%5.3%11.8%8.7%11.8%11.6%
Cash from investing-67.9-227-244-78.0-77.5-86.0-90.7-81.8-104-119-98.8
Cash from financing-111-75.3-199-59.3-354-149-253-258-287-251-268
Depreciation and amortisation241212218222219223217218217214221
Share-based compensation4.25.46.015.019.824.644.327.428.827.227.2
Buybacks2.01.60.00.00.010.6176252176119145
Diluted shares, weighted248m250m292m292m292m297m288m276m265m261m256m
Shares outstanding at period end246m245m290m290m291m291m283m264m255m254m253m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023 †FY2024 †FY2025TTM
Funded by
Shareholders' equity1,0681,0151,9472,6512,8063,1003,1103,2203,0243,3343,522
Non-controlling interestn/a414386360379382334324317355372
Debtn/a3,9563,0052,9582,7092,5652,4632,4522,3512,2322,234
Operating lease liabilitiesn/an/an/a115111114120110126123n/a
Finance lease liabilitiesn/an/an/a1.42.22.21.61.11.51.7n/a
Other liabilitiesn/a1,4701,3841,3261,4191,3711,1631,1489681,1051,265
Total liabilities and equityn/a6,8546,7237,4117,4267,5337,1927,2546,7867,1517,393
Owned
Fixed assetsn/a686756n/an/an/an/an/an/an/an/a
Goodwill1,9122,0862,0462,0602,1202,0631,9812,0391,9092,0352,022
Intangible assetsn/a2,1271,9911,8761,7891,6421,4901,3861,2491,1921,123
Cash and equivalents529564423635521658578721682812824
Receivablesn/a714742695695708809768723744900
Inventoryn/a457538475508683656647676700741
Other assetsn/a2202261,6701,7931,7791,6771,6941,5481,6681,783
Total assetsn/a6,8546,7237,4117,4267,5337,1927,2546,7867,1517,393
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/a4.3%-1.1%3.3%
Profit growth, compoundedn/a25.9%4.4%79.3%
Return on equity, average10.0%7.6%7.1%7.5%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Gates Industrial's revenue in fiscal 2025?

Gates Industrial (GTES) reported revenue of $3.4 billion for fiscal 2025, the year ended 31 December 2025, up 1.0% on the year before.

How much did Gates Industrial earn in fiscal 2025?

Net income was $251 million for fiscal 2025, and diluted earnings per share $0.96.

What is Gates Industrial's P/E ratio?

At the close of 9 October 2026, Gates Industrial traded at 18.9 times its earnings over the twelve months to 27 June 2026.

What is Gates Industrial's market cap?

The market cap of Gates Industrial was $6.8 billion at the close of 9 October 2026.

How much debt does Gates Industrial have?

At 27 June 2026 Gates Industrial carried $2.2 billion of debt and $824 million of cash.

Peers: Machinery

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Illinois Tool Works Inc. ITW$75.2 billion23.94110.3%26.5%4.3%3.352.4%
Ingersoll Rand Inc. IR$30.6 billion32.409.4%18.1%7.8%0.40n/a
Zebra Technologies Corp. ZBRA$18.3 billion35.4315.7%14.7%12.7%0.81n/a
Timken Co. TKR$8.1 billion31.498.1%10.5%5.5%0.641.2%
Zurn Elkay Water Solutions Corp. ZWS$7.7 billion28.7416.6%20.8%10.7%0.300.8%
Agco Corp. AGCO$7.2 billion14.3013.1%5.8%1.7%0.651.1%
Aaon, Inc. AAON$7.1 billion44.8415.8%11.0%53.5%0.430.5%
NOV Inc. NOV$6.8 billion72.941.5%5.1%-1.7%0.272.7%
Gates Industrial Corp. Ltd. GTES$6.8 billion18.9210.3%13.3%3.3%0.63n/a
Solaris Energy Infrastructure, Inc. SEI$6.0 billion95.536.1%24.3%70.5%1.780.6%
Weatherford International plc WFRD$5.6 billion15.3720.5%12.7%-7.2%0.811.3%
JBT Marel Corp. JBTM$5.6 billion29.194.3%7.3%44.9%0.380.4%
All 60 in Machinery
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
ASML Holding N.V. ASML *$686.2 billion64.0049.0%34.6%15.6%0.22n/a
Lam Research Corp. LRCX$398.9 billion55.3558.3%35.3%26.0%0.300.3%
Caterpillar Inc. CAT$367.9 billion34.4555.9%17.5%18.4%1.440.7%
Deere & Co. DE$167.4 billion34.4917.4%13.4%8.0%2.281.0%
Eaton Corp. plc ETN$166.9 billion43.7118.9%n/a15.5%0.911.0%
Johnson Controls International plc JCI$96.0 billion27.3826.5%n/a6.8%0.621.0%
Illinois Tool Works Inc. ITW$75.2 billion23.94110.3%26.5%4.3%3.352.4%
Cummins Inc. CMI$72.0 billion26.7421.1%11.2%2.9%0.521.5%
Baker Hughes Co. BKR$56.3 billion18.2915.6%n/a0.4%0.82n/a
Carrier Global Corp. CARR$46.1 billion38.329.1%7.8%-1.6%0.771.2%
Ingersoll Rand Inc. IR$30.6 billion32.409.4%18.1%7.8%0.40n/a
TechnipFMC plc FTI$27.3 billion24.1535.9%16.0%9.9%0.120.3%
nVent Electric plc NVT$27.1 billion45.7515.0%17.1%46.2%0.370.5%
Dover Corp. DOV$25.4 billion22.7414.7%16.9%7.6%0.421.1%
Xylem Inc. XYL$24.0 billion24.459.8%14.5%4.5%0.281.6%
Curtiss Wright Corp. CW$18.9 billion35.3019.5%18.8%10.5%0.350.2%
Zebra Technologies Corp. ZBRA$18.3 billion35.4315.7%14.7%12.7%0.81n/a
Nordson Corp. NDSN$18.3 billion33.1717.0%26.9%7.0%0.531.0%
ITT Inc. ITT$18.0 billion39.488.8%14.4%28.1%0.620.7%
Idex Corp. IEX$17.3 billion33.7013.0%20.7%7.3%0.471.2%
RBC Bearings Inc. RBC$16.5 billion49.799.3%23.6%17.3%0.230.0%
Lincoln Electric Holdings Inc. LECO$14.2 billion26.1035.6%17.1%9.3%0.741.2%
CNH Industrial N.V. CNH$14.1 billion45.604.0%n/a0.6%3.332.2%
BWX Technologies, Inc. BWXT$13.2 billion37.2626.6%12.1%22.7%1.510.7%
Graco Inc. GGG$12.7 billion24.5921.1%28.1%4.6%0.011.4%
Lennox International Inc. LII$12.4 billion16.1160.8%19.7%-2.1%0.891.4%
Moog Inc. MOG.A$11.6 billion30.8717.0%13.3%15.6%0.410.3%
Regal Rexnord Corp. RRX$11.0 billion34.024.7%11.7%3.5%0.660.8%
Donaldson Co. Inc. DCI$10.1 billion22.5925.7%15.4%5.3%0.731.4%
Flowserve Corp. FLS$9.2 billion25.3416.4%8.5%-0.3%0.941.2%
Toro Co. TTC$9.1 billion25.6127.2%10.3%5.2%0.721.6%
SPX Technologies, Inc. SPXC$8.5 billion30.4811.9%16.2%20.6%0.260.4%
Pentair plc PNR$8.5 billion13.1817.4%20.3%-2.1%0.431.9%
Timken Co. TKR$8.1 billion31.498.1%10.5%5.5%0.641.2%
Zurn Elkay Water Solutions Corp. ZWS$7.7 billion28.7416.6%20.8%10.7%0.300.8%
Agco Corp. AGCO$7.2 billion14.3013.1%5.8%1.7%0.651.1%
Aaon, Inc. AAON$7.1 billion44.8415.8%11.0%53.5%0.430.5%
NOV Inc. NOV$6.8 billion72.941.5%5.1%-1.7%0.272.7%
Gates Industrial Corp. Ltd. GTES$6.8 billion18.9210.3%13.3%3.3%0.63n/a
Solaris Energy Infrastructure, Inc. SEI$6.0 billion95.536.1%24.3%70.5%1.780.6%
Weatherford International plc WFRD$5.6 billion15.3720.5%12.7%-7.2%0.811.3%
JBT Marel Corp. JBTM$5.6 billion29.194.3%7.3%44.9%0.380.4%
ACM Research, Inc. ACMR$5.1 billion33.998.1%13.3%27.3%0.13n/a
Middleby Corp. MIDD$4.8 billionn/a-21.3%16.5%8.4%0.88n/a
Cactus, Inc. WHD$4.5 billion54.2313.2%18.6%21.8%0.000.9%
Esab Corp. ESAB$4.2 billion23.976.8%12.1%9.7%0.940.6%
Brunswick Corp. BC$4.0 billionn/a-5.1%-0.4%10.5%1.252.8%
Standex International Corp. SXI$3.4 billion32.9613.9%21.7%12.8%0.690.5%
Veeco Instruments Inc. VECO$3.2 billion145.422.6%2.7%-2.5%0.25n/a
Kadant Inc. KAI$3.1 billion28.0110.7%15.0%12.5%0.500.5%
Dnow Inc. DNOW$2.8 billionn/an/an/a69.8%0.23n/a
Kennametal Inc. KMT$2.4 billion7.2521.8%20.1%19.8%0.442.5%
Hayward Holdings, Inc. HAYW$2.4 billion15.3210.1%21.1%7.8%0.590.0%
Innovex International, Inc. INVX$1.9 billion31.535.8%10.0%15.0%0.02n/a
Alamo Group Inc. ALG$1.8 billion18.298.5%8.9%4.1%0.220.8%
Enerpac Tool Group Corp. EPAC$1.8 billion19.7522.0%21.2%4.3%0.440.1%
Azenta, Inc. AZTA$1.7 billionn/a-8.1%-28.6%4.8%0.000.3%
Lindsay Corp. LNN$1.1 billion21.5511.1%9.9%-7.4%0.231.3%
Tennant Co. TNC$1.1 billion63.473.4%3.2%-2.9%0.671.8%
Astec Industries Inc. ASTE$890 million45.532.8%3.4%18.7%0.531.3%
4 companies share its SEC industry code (General Industrial Machinery & Equipment); the rest are the names nearest in size in its wider industry, Machinery, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q27 June 202631 July 2026EDGAR
10-Q28 March 20261 May 2026EDGAR
10-K31 December 202512 February 2026EDGAR
10-Q27 September 202529 October 2025EDGAR
10-Q28 June 202530 July 2025EDGAR
10-Q29 March 202530 April 2025EDGAR
10-K28 December 20246 February 2025EDGAR
10-Q28 September 202430 October 2024EDGAR
10-Q29 June 202431 July 2024EDGAR
10-Q30 March 20241 May 2024EDGAR

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