EMERSON ELECTRIC CO financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data EMERSON ELECTRIC CO 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	14,522	15,264	17,408	18,372	16,785	12,932	13,804	15,165	17,492	18,016
Cost of revenue	8,260	8,833	9,976	10,557	9,776	7,202	7,498	7,738	8,607	8,497
Gross profit	6,262	6,404	7,432	7,815	7,009	7,563	6,306	7,427	8,885	9,519
Research and development	320	340	436	454	439	347	385	523	781	771
Selling, general and administrative	3,464	3,607	4,269	4,457	3,986	3,494	3,614	4,186	5,142	5,103
Interest expense						147
Interest income	27	36	43	27	19	10	34	227	148	150
Other non-operating income	-114	-110	-61	8	12	71	100	145	72	81
Pre-tax income	2,316	2,335	2,667	2,859	2,335	1,762	2,432	2,903	2,020	2,934
Income tax	697	660	443	531	345	346	549	642	415	696
Income from continuing operations	1,590	1,643	2,203	2,306		1,414	1,886	2,286	1,618	2,285
Net income to minority interests	29	32	21	22	25	24	-1	-19	-13	-47
Net income	1,635	1,518	2,203	2,306	1,965	2,303	3,231	13,219	1,968	2,293
EPS, basic	2.53	2.35	3.48	3.74	3.26	3.85	5.44	23.00	3.44	4.06
EPS, diluted	2.52	2.35	3.46	3.71	3.24	3.82	5.41	22.88	3.43	4.04
Shares, basic (weighted)	644	642	632	616	603	598	593	574	571	564
Shares, diluted (weighted)	647	643	635	621	607	602	596	577	574	567
Dividend per share	1.90	1.92	1.94	1.96	2.00	2.02	2.06	2.08	2.10	2.11

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	3,182	3,062	1,093	1,494	3,315	2,354	1,804	8,051	3,588	1,544
Short-term investments	99
Receivables	2,701	3,072	3,023	2,985	2,802	2,971	2,261	2,518	2,927	3,101
Inventory	1,208	1,696	1,813	1,880	1,928	2,050	1,742	2,006	2,180	2,213
Other current assets	669	422	690	780	761	1,057	1,301	1,244	1,497	1,725
Total current assets	9,960	8,252	6,619	7,139	8,806	8,432	8,506	13,819	10,192	8,583
Property, plant and equipment	2,931	3,321	3,562	3,642	3,688	3,738	2,239	2,363	2,807	2,871
Lease right-of-use assets				0	508	558	439	550	692	637
Goodwill	3,909	5,316	6,455	6,536	6,734	6,967	13,946	14,480	18,067	18,193
Intangible assets	902	1,890	2,751	2,615	2,468	2,877	6,572	6,263	10,436	9,458
Other non-current assets	200	810	1,003	565	1,186	1,945	2,151	2,566	2,744	2,859
Total assets	21,732	19,589	20,390	20,497	22,882	24,715	35,672	42,746	44,246	41,964
Accounts payable	1,517	1,776	1,943	1,874	1,715	2,108	1,276	1,275	1,335	1,384
Accrued liabilities	2,126	2,342	2,598	2,658	2,910	3,266	3,038	3,210	3,875	3,616
Deferred revenue						730	751	861	1,043	1,031
Short-term debt	2,584	862	1,623	1,444	1,160	872	2,115	547	532	4,797
Total current liabilities	8,008	5,045	6,164	5,976	5,785	6,246	7,777	5,032	5,742	9,797
Long-term debt	4,051	3,794	3,137	4,277	6,326	5,793	8,259	7,610	7,155	8,319
Lease liabilities				0	373	413	312	404	511	505
Other non-current liabilities	430	551	656	556			3,153	3,506	3,840	3,550
Total liabilities	14,114	10,819	11,400	12,224	14,435	14,792	19,356	16,148	16,737	21,666
Total debt	4,318	4,064	3,825	4,792	6,648	6,331	8,775	8,156	7,687	8,924
Paid-in capital	205	297	348	393	470	522	57	62	169	85
Retained earnings	21,716	21,995	23,072	24,199	24,955	26,047	28,053	40,070	40,830	40,603
Treasury stock	-12,831	-13,032	-13,935	-15,114	-15,920	-16,291	-16,738	-18,667	-18,972	-20,062
Other comprehensive income	-1,999	-1,019	-1,015	-1,722	-1,577	-872	-1,485	-1,253	-868	-821
Shareholders' equity	7,568	8,718	8,947	8,233	8,405	9,883	10,364	20,689	21,636	20,282
Minority interests	50	52	43	40	42	40	5,952	5,909	5,873	16
Total equity	7,618	8,770	8,990	8,273	8,447	9,923	16,316	26,598	27,509	20,298
Total liabilities and equity	21,732	19,589	20,390	20,497	22,882	24,715	35,672	42,746	44,246	41,964
Shares outstanding	643	642	629	611	598	596	591	572	570	563

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	1,664	1,550	2,224	2,328	1,990	2,327	3,230	13,200	1,955	2,246
Depreciation and amortization	568	636	758	822	854	762	842	1,051	1,689	1,518
Stock-based compensation	145	110	216	120	110	197	125	250	260	263
Change in receivables	162	-25	-175	51	207	-18	-143	-191	-99	-171
Change in inventory	58	32	17	-87	-6	-11	-334	-160	122	-1
Change in payables	-22	135	115	-37	-196	107	147	-17	-16	34
Cash from operations	2,881	1,912	2,892	3,006	3,083	3,575	2,922	637	3,332	3,098
Capital expenditures	-447	-476	-617	-594	-538	-404	-299	-363	-419	-431
Acquisitions	-132	-2,990	-2,203	-469	-126	-1,592	-5,702	-705	-8,342	-37
Cash from investing	-626	1,514	-2,720	-1,174	-740	-2,120	-5,334	12,415	-5,360	-593
Debt issued	0	0	0	1,691	2,233	0	2,975	0	0	1,544
Debt repaid	-254	-254	-241	-656	-503	-308	-522	-741	-547	-503
Share buybacks	-601	-400	-1,000	-1,250	-942	-500	-500	-2,000	-435	-1,167
Dividends paid	-1,227	-1,239	-1,229	-1,209	-1,209	-1,210	-1,223	-1,198	-1,201	-1,192
Cash from financing	-2,045	-3,591	-2,092	-1,391	-509	-2,422	2,048	-6,823	-2,455	-4,510
Exchange rate effect	-82	45	-49	-40	-13	6	-186	18	20	-39
Net change in cash	128	-120	-1,969	401	1,821	-961	-550	6,247	-4,463	-2,044
Free cash flow	2,434	1,436	2,275	2,412	2,545	3,171	2,623	274	2,913	2,667
Interest paid	209	192	193	195	163	156	199	200	193	221
Income taxes paid	950	1,420	680	650	400	680	720	3,310	950	1,440

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 $158.23 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	53.2%	Gross profit / revenue.
Pre-tax margin	17.6%	Pre-tax income / revenue.
Net margin	13.8%	Net income / revenue.
FCF margin	18.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	21.0%	Cash from operations / revenue.
Effective tax rate	21.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	12.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	6.1%	Net income / average total assets.
SG&A / revenue	28.1%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.4%	Capital expenditures / revenue.
D&A / revenue	8.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	3.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	9.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	1.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	7.1%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	14.7%	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	6.3%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	16.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-10.8%	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	3.1%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	17.8%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-9.3%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	4.5%	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	-7.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	2.0%	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	0.1%	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	-8.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	0.6%	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	0.9%	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	0.5%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.8%	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	1.1%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-6.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	25.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	19.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-5.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	5.6%	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	12.9%	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	-1.3%	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	-1.7%	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	0.90x	Current assets / current liabilities.
Quick ratio	0.49x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.20x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.37x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	17.8%	Total debt / total assets.
Liabilities / assets	51.7%	Total liabilities / total assets.
Net debt	$5.35B	Total debt - cash - short-term investments. Negative means more cash than debt.
Working capital	-$1.12B	Current assets - current liabilities.
Goodwill and intangibles / assets	63.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$6.43B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.44x	Revenue / average total assets.
Fixed asset turnover	6.51x	Revenue / average property, plant and equipment.
Inventory turnover	3.47x	Cost of revenue / average inventory.
Days inventory	105 days	365 x average inventory / cost of revenue.
Receivables turnover	6.10x	Revenue / average receivables.
Days sales outstanding	60 days	365 x average receivables / revenue.
Days payables	67 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	98 days	Days inventory + days sales outstanding - days payables.
FCF conversion	134.2%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	11.6%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$4.59	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	$33.21	Revenue / diluted weighted shares.
FCF per share	$6.17	Free cash flow / diluted weighted shares.
Operating cash flow per share	$6.97	Cash from operations / diluted weighted shares.
Book value per share	$36.53	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$11.53	Tangible book value / shares outstanding.
Cash per share	$3.91	(Cash + short-term investments) / shares outstanding.
Payout ratio	47.8%	Dividends paid / net income, when net income is positive.
Dividends / FCF	35.6%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	26.5%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$88.26B	Share price x shares outstanding.
Enterprise value	$93.61B	Market cap + total debt - cash - short-term investments.
P/E	34.2x	Market cap / net income. Only when net income is positive.
P/S	4.74x	Market cap / revenue.
P/B	4.33x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	25.5x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	22.6x	Market cap / cash from operations, when positive.
EV/Sales	5.02x	Enterprise value / revenue.
EV/FCF	27.1x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.9%	Free cash flow / market cap.
Earnings yield	2.9%	Net income / market cap (the inverse of P/E).
Dividend yield	1.4%	Dividends paid over the period / market cap.
Shareholder yield	2.4%	(Dividends paid + share buybacks) / market cap.

What was EMERSON ELECTRIC CO's revenue in fiscal 2025?

EMERSON ELECTRIC CO reported revenue of $18.02B for fiscal 2025, 3% higher than the year before.

Was EMERSON ELECTRIC CO profitable in fiscal 2025?

Yes. Net income was $2.29B, a net margin of 12.7%.

How much free cash flow did EMERSON ELECTRIC CO generate in fiscal 2025?

Cash from operations of $3.10B minus capital expenditures of $431.0M left free cash flow of $2.67B.

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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