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

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	15,264	17,408	18,372	16,785	12,932	13,804	15,165	17,492	18,016	18,982
Cost of revenue	8,833	9,976	10,557	9,776	7,202	7,498	7,738	8,607	8,497	8,854
Gross profit	6,404	7,432	7,815	7,009	7,563	6,306	7,427	8,885	9,519	10,128
Research and development	340	436	454	439	347	385	523	781	771	812
Selling, general and administrative	3,607	4,269	4,457	3,986	3,494	3,614	4,186	5,142	5,103	5,296
Interest expense					147
Interest income	36	43	27	19	10	34	227	148	150	104
Other non-operating income	-110	-61	8	12	71	100	145	-28	86	105
Pre-tax income	2,335	2,667	2,859	2,335	1,762	2,432	2,903	2,031	2,905	3,489
Income tax	660	443	531	345	346	549	642	420	690	796
Income from continuing operations	1,643	2,203	2,306		1,414	1,886	2,286	1,624	2,262	2,691
Net income to minority interests	32	21	22	25	24	-1	-19	-13	-47	2
Net income	1,518	2,203	2,306	1,965	2,303	3,231	13,219	1,974	2,270	2,691
EPS, basic	2.35	3.48	3.74	3.26	3.85	5.44	23.00	3.45	4.02	4.81
EPS, diluted	2.35	3.46	3.71	3.24	3.82	5.41	22.88	3.44	4.00	4.79
Shares, basic (weighted)	642	632	616	603	598	593	574	571	564	560
Shares, diluted (weighted)	643	635	621	607	602	596	577	574	567	562
Dividend per share	1.92	1.94	1.96	2.00	2.02	2.06	2.08	2.10	2.11	2.22

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	3,062	1,093	1,494	3,315	2,354	1,804	8,051	3,588	1,544	1,806
Receivables	3,072	3,023	2,985	2,802	2,971	2,261	2,518	2,927	3,101	3,317
Inventory	1,696	1,813	1,880	1,928	2,050	1,742	2,006	2,180	2,213	2,432
Other current assets	422	690	780	761	1,057	1,301	1,244	1,497	1,725	1,962
Total current assets	8,252	6,619	7,139	8,806	8,432	8,506	13,819	10,192	8,583	9,517
Property, plant and equipment	3,321	3,562	3,642	3,688	3,738	2,239	2,363	2,807	2,871	2,859
Lease right-of-use assets			0	508	558	439	550	692	637	667
Goodwill	5,316	6,455	6,536	6,734	6,967	13,946	14,480	18,067	18,193	18,104
Intangible assets	1,890	2,751	2,615	2,468	2,877	6,572	6,263	10,436	9,458	8,442
Other non-current assets	810	1,003	565	1,186	1,945	2,151	2,566	2,744	2,859	2,892
Total assets	19,589	20,390	20,497	22,882	24,715	35,672	42,746	44,246	41,964	41,814
Accounts payable	1,776	1,943	1,874	1,715	2,108	1,276	1,275	1,335	1,384	1,698
Accrued liabilities	2,342	2,598	2,658	2,910	3,266	3,038	3,210	3,875	3,616	3,753
Deferred revenue					730	751	861	1,043	1,031	1,055
Short-term debt	862	1,623	1,444	1,160	872	2,115	547	532	4,797	4,667
Total current liabilities	5,045	6,164	5,976	5,785	6,246	7,777	5,032	5,742	9,797	10,118
Long-term debt	3,794	3,137	4,277	6,326	5,793	8,259	7,610	7,155	8,319	7,508
Lease liabilities			0	373	413	312	404	511	505	546
Other non-current liabilities	551	656	556			3,153	3,506	3,840	3,550	3,432
Total liabilities	10,819	11,400	12,224	14,435	14,792	19,356	16,148	16,737	21,666	21,058
Total debt	4,064	3,825	4,792	6,648	6,331	8,775	8,156	7,687	8,924	8,274
Paid-in capital	297	348	393	470	522	57	62	169	85	176
Retained earnings	21,995	23,072	24,199	24,955	26,047	28,053	40,070	40,830	40,335	41,753
Treasury stock	-13,032	-13,935	-15,114	-15,920	-16,291	-16,738	-18,667	-18,972	-20,062	-20,989
Other comprehensive income	-1,019	-1,015	-1,722	-1,577	-872	-1,485	-1,253	-868	-553	-677
Shareholders' equity	8,718	8,947	8,233	8,405	9,883	10,364	20,689	21,636	20,282	20,740
Minority interests	52	43	40	42	40	5,952	5,909	5,873	16	16
Total equity	8,770	8,990	8,273	8,447	9,923	16,316	26,598	27,509	20,298	20,756
Total liabilities and equity	19,589	20,390	20,497	22,882	24,715	35,672	42,746	44,246	41,964	41,814
Shares outstanding	642	629	611	598	596	591	572	570	563	557

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	1,550	2,224	2,328	1,990	2,327	3,230	13,200	1,961	2,223	2,693
Depreciation and amortization	636	758	822	854	762	842	1,051	1,689	1,518	1,478
Stock-based compensation	110	216	120	110	197	125	250	260	263	237
Deferred income tax								-391	-310	-185
Change in receivables	-25	-175	51	207	-18	-143	-191	-99	-171	-244
Change in inventory	32	17	-87	-6	-11	-334	-160	122	-1	-241
Change in payables	135	115	-37	-196	107	147	-17	-16	34	291
Cash from operations	1,912	2,892	3,006	3,083	3,575	2,922	637	3,332	3,098	3,978
Capital expenditures	-476	-617	-594	-538	-404	-299	-363	-419	-431	-443
Acquisitions	-2,990	-2,203	-469	-126	-1,592	-5,702	-705	-8,342	-37	-6
Cash from investing	1,514	-2,720	-1,174	-740	-2,120	-5,334	12,415	-5,360	-593	-455
Debt issued	0	0	1,691	2,233	0	2,975	0	0	1,544	0
Debt repaid	-254	-241	-656	-503	-308	-522	-741	-547	-503	-588
Share buybacks	-400	-1,000	-1,250	-942	-500	-500	-2,000	-435	-1,167	-1,000
Dividends paid	-1,239	-1,229	-1,209	-1,209	-1,210	-1,223	-1,198	-1,201	-1,192	-1,244
Cash from financing	-3,591	-2,092	-1,391	-509	-2,422	2,048	-6,823	-2,455	-4,510	-3,222
Exchange rate effect	45	-49	-40	-13	6	-186	18	20	-39	-39
Net change in cash	-120	-1,969	401	1,821	-961	-550	6,247	-4,463	-2,044	262
Free cash flow	1,436	2,275	2,412	2,545	3,171	2,623	274	2,913	2,667	3,535
Interest paid	192	193	195	163	156	199	200	193	221	249
Income taxes paid	1,420	680	650	400	680	720	3,310	950	1,440	960

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $167.54 on November 10, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	53.4%	Gross profit / revenue.
Pre-tax margin	18.4%	Pre-tax income / revenue.
Net margin	14.2%	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	22.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	13.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	6.4%	Net income / average total assets.
R&D / revenue	4.3%	Research and development expense / revenue.
SG&A / revenue	27.9%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.2%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.3%	Capital expenditures / revenue.
D&A / revenue	7.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	5.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	7.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	8.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	6.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	10.9%	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	6.0%	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	18.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-41.2%	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	3.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	19.8%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-40.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	4.6%	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	28.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	84.2%	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	2.2%	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	32.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	134.5%	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	2.2%	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	5.2%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	2.2%	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	1.9%	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	2.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	0.1%	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	16.0%	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	-0.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-0.7%	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	11.1%	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	-0.8%	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	-0.9%	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	0.94x	Current assets / current liabilities.
Quick ratio	0.51x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.18x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.40x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	19.8%	Total debt / total assets.
Liabilities / assets	50.4%	Total liabilities / total assets.
Net debt	$6.47B	Total debt - cash - short-term investments. Negative means more cash than debt.
Working capital	-$601.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	63.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$5.81B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.45x	Revenue / average total assets.
Fixed asset turnover	6.63x	Revenue / average property, plant and equipment.
Inventory turnover	3.81x	Cost of revenue / average inventory.
Days inventory	96 days	365 x average inventory / cost of revenue.
Receivables turnover	5.92x	Revenue / average receivables.
Days sales outstanding	62 days	365 x average receivables / revenue.
Days payables	64 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	94 days	Days inventory + days sales outstanding - days payables.
FCF conversion	131.4%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	11.1%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$4.79	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.
EPS, basic	$4.81	Net income per basic share, as reported (split-adjusted).
Revenue per share	$33.78	Revenue / diluted weighted shares.
FCF per share	$6.29	Free cash flow / diluted weighted shares.
Operating cash flow per share	$7.08	Cash from operations / diluted weighted shares.
Book value per share	$37.22	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$10.42	Tangible book value / shares outstanding.
Cash per share	$3.24	(Cash + short-term investments) / shares outstanding.
Dividend per share	$2.22	Dividend declared per common share (paid, when declared is not tagged).
Payout ratio	46.2%	Dividends paid / net income, when net income is positive.
Dividends / FCF	35.2%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	28.3%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$93.45B	Share price x shares outstanding.
Enterprise value	$99.92B	Market cap + total debt - cash - short-term investments.
P/E	34.7x	Market cap / net income. Only when net income is positive.
P/S	4.92x	Market cap / revenue.
P/B	4.51x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	26.4x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	23.5x	Market cap / cash from operations, when positive.
EV/Sales	5.26x	Enterprise value / revenue.
EV/FCF	28.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.8%	Free cash flow / market cap.
Earnings yield	2.9%	Net income / market cap (the inverse of P/E).
Dividend yield	1.3%	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 2026?

EMERSON ELECTRIC CO reported revenue of $18.98B for fiscal 2026, 5.4% higher than the year before.

Was EMERSON ELECTRIC CO profitable in fiscal 2026?

Yes. Net income was $2.69B, a net margin of 14.2%.

How much free cash flow did EMERSON ELECTRIC CO generate in fiscal 2026?

Cash from operations of $3.98B minus capital expenditures of $443.0M left free cash flow of $3.54B.

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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