Allegion plc financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Allegion plc files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	2,238	2,408	2,732	2,854	2,720	2,867	3,272	3,651	3,772	4,067
Cost of revenue	1,248	1,335	1,558	1,602	1,541	1,663	1,950	2,069	2,104	2,229
Gross profit	990	1,073	1,173	1,252	1,179	1,205	1,322	1,582	1,669	1,838
Research and development	47.3	48.3	54.4	54.7	54.4	73.3	74.5	102	113	132
Selling, general and administrative	555	580	648	681	636	675	736	866	888	979
Operating income	434	493	526	565	404	530	586	708	781	860
Interest expense	64.3	106	54	56	51.1	50.2	75.9	93.1	102	101
Interest income	1.9	1.2	0.8	1.8	0.9	0.4	1.3	6.8	20.5	12
Other non-operating income	9.4	8.9	3.4	-3.8	13	44	11.6	1.9	20.1	9.9
Pre-tax income	295	396	475	475	365	524	515	617	699	768
Income tax	63.8	119	39.8	73.1	50.9	40.7	56.2	76.6	101	125
Income from continuing operations	229	273
Net income to minority interests	2.1	3.4	0.5	0.3	0.2	0.3	0.3	0.2	0	0
Net income	229	273	435	402	314	483	458	540	598	644
EBITDA	496	554	608	643	482	609	682	817	897	989
EPS, basic	2.39	2.87	4.58	4.29	3.41	5.37	5.20	6.15	6.85	7.48
EPS, diluted	2.36	2.85	4.54	4.26	3.39	5.34	5.19	6.12	6.82	7.44
Shares, basic (weighted)	95.8	95.1	95	93.6	92.3	89.9	88	87.9	87.2	86.1
Shares, diluted (weighted)	96.9	96	95.7	94.3	92.8	90.5	88.3	88.3	87.6	86.6
Dividend per share	0.48	0.64	0.84	1.08	1.28	1.44	1.64	1.80	1.92	2.04

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	312	466	284	355	480	398	288	468	504	356
Receivables	260	297	325	330	322	283	396	413	419	438
Inventory	221	240	280	270	283	380	479	439	423	519
Other current assets	22.2	17	19.6	29.2	28.1	26.9	40.2	32.6	46.8	78.9
Total current assets	829	1,033	932	1,002	1,145	1,118	1,215	1,361	1,422	1,392
Property, plant and equipment	227	252	277	291	295	284	309	358	385	445
Lease right-of-use assets				81.4	92	89.9	98.1	148	148	166
Goodwill	717	761	883	873	819	804	1,413	1,443	1,489	1,912
Intangible assets	357	394	547	511	487	448	609	573	569	826
Other non-current assets	45	66.2	87.2	177	197	244	218	284	290	649
Total assets	2,247	2,542	2,810	2,967	3,069	3,051	3,991	4,312	4,488	5,224
Accounts payable	180	188	235	221	220	259	281	259	258	245
Accrued liabilities	118	135	135	175	189	200	248	258	275	510
Deferred revenue									28.1	36
Short-term debt	48.2	35	35.3	0.1	0.2	12.6	12.6	413	21.9	0.2
Total current liabilities	430	461	521	507	522	601	704	1,080	697	755
Long-term debt	1,416	1,442	1,410	1,428	1,429	1,430	2,082	1,602	1,978	1,980
Lease liabilities				55.6	66.3	63.3	69.5	117	115	129
Other non-current liabilities	32.6	23.9	28.8	76.7	101	87.9	120	173	176	421
Total liabilities	2,131	2,137	2,156	2,207	2,237	2,289	3,047	2,993	2,987	3,156
Total debt	1,464	1,477	1,445	1,428	1,430	1,442	2,095	2,015	2,000	1,980
Paid-in capital	0	9.1	0	0	0	0	13.9	0	0	34.2
Retained earnings	377	544	874	975	986	953	1,213	1,579	1,831	2,238
Other comprehensive income	-264	-153	-224	-219	-157	-194	-286	-262	-332	-206
Shareholders' equity	113	402	651	757	829	759	942	1,318
Minority interests	3.1	3.9	3	3	3.2	3.3	2.7	0
Total equity	116	406	654	760	833	762	945	1,318	1,501	2,068
Total liabilities and equity	2,247	2,542	2,810	2,967	3,069	3,051	3,991	4,312	4,488	5,224
Shares outstanding				92.7	91.2	88.2	87.9	87.5	86.3	86.1

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	231	277	435	402	315	483	458	541	598	644
Depreciation and amortization	61.4	61.6	82.3	78.1	78	79.2	95.1	109	116	130
Stock-based compensation	16.6	16.2	19.6	20.4	20.8	23.4	24.5	26.4	28.2	29.8
Deferred income tax	6.2	25.2	-64.7	-30.2	-24.4	-43.8	-71.3	-67.6	-44.2	-10.2
Change in inventory	-15.6	-4.4	-19.7	5.4	-7.8	-106	-61.7	44.6	16.7	-38.9
Change in payables	3.4	0.4	33.9	-11	-1.6	40	2.5	-33.6	3.6	-34.4
Cash from operations	378	347	458	488	490	489	460	601	675	784
Capital expenditures	-42.5	-49.3	-49.1	-65.6	-47.1	-45.4	-64	-84.2	-92.1	-98.1
Acquisitions	-31.4	-20.8	-373	-4.6
Purchases of investments	0	0	-14.3	0	-3
Sales and maturities of investments	14.1	0	0
Cash from investing	-64	-50.2	-444	-77.6	-56.7	-31.6	-994	-129	-228	-686
Debt issued	0	700	0	0	0	0	600	0	400	0
Debt repaid	-47	-32.3	-35.5	-418	-0.2	-239
Stock issued	5.8	7.2	3.2	6.5			3.3	1.3	14.7	23.6
Share buybacks	-85.1	-60	-67.3	-226	-209	-413	-61	-59.9	-220	-80
Dividends paid	-46	-60.9	-79.4	-101	-117	-129	-144	-159	-167	-175
Cash from financing	-196	-151	-183	-342	-322	-529	437	-299	-395	-267
Exchange rate effect	-4.8	7.7	-6.2	-0.3	10	-10.2	-12.3	7.3	-16.4	20.8
Net change in cash	113	154	-176	68.1	122	-82.5	-110	180	35.7	-148
Free cash flow	335	298	409	423	443	443	396	516	583	686
Interest paid	56	58.4	52	48.8	47.3	45.1	56.9	92	100	98.1
Income taxes paid	10.4	86.7	102	103	82.6	89.1	81.7	158	158	121

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $154.47 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	44.8%	Gross profit / revenue.
Operating margin	20.8%	Operating income / revenue.
EBITDA margin	24.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	18.5%	Pre-tax income / revenue.
Net margin	15.4%	Net income / revenue.
FCF margin	15.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	17.9%	Cash from operations / revenue.
Effective tax rate	16.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	12.3%	Net income / average total assets.
SG&A / revenue	24.0%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.3%	Capital expenditures / revenue.
D&A / revenue	3.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	7.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	7.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	8.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	10.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	11.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	9.3%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	10.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	13.6%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	16.3%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	10.3%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	13.2%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	15.5%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	7.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	12.0%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	15.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	9.1%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	12.8%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	17.0%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	16.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	19.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	9.8%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	17.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	20.1%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	9.1%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	6.3%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	7.5%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	9.8%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	16.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	9.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	11.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-1.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.93x	Current assets / current liabilities.
Quick ratio	1.13x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.41x	(Cash + short-term investments) / current liabilities.
Debt / assets	37.9%	Total debt / total assets.
Liabilities / assets	60.5%	Total liabilities / total assets.
Net debt	$1.71B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.65x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	8.87x	Operating income / interest expense.
Working capital	$722.7M	Current assets - current liabilities.
Goodwill and intangibles / assets	51.1%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.80x	Revenue / average total assets.
Fixed asset turnover	9.49x	Revenue / average property, plant and equipment.
Inventory turnover	4.37x	Cost of revenue / average inventory.
Days inventory	84 days	365 x average inventory / cost of revenue.
Receivables turnover	7.66x	Revenue / average receivables.
Days sales outstanding	48 days	365 x average receivables / revenue.
Days payables	43 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	88 days	Days inventory + days sales outstanding - days payables.
FCF conversion	101.9%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	12.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$7.66	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$49.87	Revenue / diluted weighted shares.
FCF per share	$7.80	Free cash flow / diluted weighted shares.
Operating cash flow per share	$8.95	Cash from operations / diluted weighted shares.
Cash per share	$3.77	(Cash + short-term investments) / shares outstanding.
Payout ratio	27.6%	Dividends paid / net income, when net income is positive.
Dividends / FCF	27.0%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	23.9%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$13.14B	Share price x shares outstanding.
Enterprise value	$14.85B	Market cap + total debt - cash - short-term investments.
P/E	19.9x	Market cap / net income. Only when net income is positive.
P/S	3.06x	Market cap / revenue.
P/FCF	19.6x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	17.1x	Market cap / cash from operations, when positive.
EV/Sales	3.46x	Enterprise value / revenue.
EV/EBIT	16.6x	Enterprise value / operating income, when both are positive.
EV/EBITDA	14.3x	Enterprise value / EBITDA, when both are positive.
EV/FCF	22.1x	Enterprise value / free cash flow, when both are positive.
FCF yield	5.1%	Free cash flow / market cap.
Earnings yield	5.0%	Net income / market cap (the inverse of P/E).
Dividend yield	1.4%	Dividends paid over the period / market cap.
Shareholder yield	2.6%	(Dividends paid + share buybacks) / market cap.
PEG	1.56x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Allegion plc's revenue in fiscal 2025?

Allegion plc reported revenue of $4.07B for fiscal 2025, 7.8% higher than the year before.

Was Allegion plc profitable in fiscal 2025?

Yes. Net income was $643.8M, a net margin of 15.8%.

How much free cash flow did Allegion plc generate in fiscal 2025?

Cash from operations of $783.8M minus capital expenditures of $98.1M left free cash flow of $685.7M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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