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DONALDSON vs Fuel Tech: revenue, profit, margins and growth compared

DONALDSON brought in $3.9B of revenue in fiscal 2026, Fuel Tech $26.7M in fiscal 2025. Revenue changed by +5.3% at DONALDSON and +6.1% at Fuel Tech on the year before, so Fuel Tech grew faster. DONALDSON kept 11.7% of its revenue as net profit, Fuel Tech -8.7%. Free cash flow was $426.3M at DONALDSON and $2.3M at Fuel Tech.

Side by side, latest fiscal year

DCIFTEK
Fiscal year endedFY2026 (July 31, 2026)FY2025 (December 31, 2025)
Revenue$3.9B$26.7M
Revenue growth+5.3%+6.1%
Net income$453.8M-$2.3M
Net margin11.7%-8.7%
Free cash flow$426.3M$2.3M
Free cash flow margin11.0%8.8%
Earnings per share (diluted)$3.85-$0.08
Cash$250.4M$11.9M
Debt$1.3Bn/a
Price to earnings22.7n/a
Market value$10.1B$53.5M
Dividend yield1.42%n/a
Rank by revenue in sector#147 of 451 · Industrials#420 of 451 · Industrials

Over the years

Revenue
DCI FY2019: $2.8BDCI FY2020: $2.6BDCI FY2021: $2.9BDCI FY2022: $3.3BDCI FY2023: $3.4BDCI FY2024: $3.6BDCI FY2025: $3.7BDCI FY2026: $3.9BFTEK FY2018: $56.5MFTEK FY2019: $30.5MFTEK FY2020: $22.6MFTEK FY2021: $24.3MFTEK FY2022: $26.9MFTEK FY2023: $27.1MFTEK FY2024: $25.1MFTEK FY2025: $26.7MFY18FY19FY20FY21FY22FY23FY24FY25FY26
DCI $3.9BFTEK $26.7M
Net income
DCI FY2019: $267.2MDCI FY2020: $257MDCI FY2021: $286.9MDCI FY2022: $332.8MDCI FY2023: $358.8MDCI FY2024: $414MDCI FY2025: $367MDCI FY2026: $453.8MFTEK FY2018: -$28KFTEK FY2019: -$7.9MFTEK FY2020: -$4.3MFTEK FY2021: $54KFTEK FY2022: -$1.4MFTEK FY2023: -$1.5MFTEK FY2024: -$1.9MFTEK FY2025: -$2.3MFY18FY19FY20FY21FY22FY23FY24FY25FY26
DCI $453.8MFTEK -$2.3M
Net margin
DCI FY2019: 9.4%DCI FY2020: 10.0%DCI FY2021: 10.1%DCI FY2022: 10.1%DCI FY2023: 10.5%DCI FY2024: 11.5%DCI FY2025: 9.9%DCI FY2026: 11.7%FTEK FY2018: -0.0%FTEK FY2019: -25.8%FTEK FY2020: -19.0%FTEK FY2021: 0.2%FTEK FY2022: -5.4%FTEK FY2023: -5.7%FTEK FY2024: -7.7%FTEK FY2025: -8.7%FY18FY19FY20FY21FY22FY23FY24FY25FY26
DCI 11.7%FTEK -8.7%
Revenue growth
DCI FY2020: -9.2%DCI FY2021: +10.5%DCI FY2022: +15.9%DCI FY2023: +3.8%DCI FY2024: +4.5%DCI FY2025: +2.9%DCI FY2026: +5.3%FTEK FY2019: -46.1%FTEK FY2020: -26.0%FTEK FY2021: +7.6%FTEK FY2022: +11.0%FTEK FY2023: +0.5%FTEK FY2024: -7.2%FTEK FY2025: +6.1%FY19FY20FY21FY22FY23FY24FY25FY26
DCI +5.3%FTEK +6.1%
Free cash flow
DCI FY2019: $195.1MDCI FY2020: $262.6MDCI FY2021: $342.9MDCI FY2022: $167.3MDCI FY2023: $426MDCI FY2024: $406.9MDCI FY2025: $339.9MDCI FY2026: $426.3MFTEK FY2018: $4.4MFTEK FY2019: -$3.9MFTEK FY2020: -$3MFTEK FY2021: $677KFTEK FY2022: -$4.3MFTEK FY2023: $278KFTEK FY2024: -$3.8MFTEK FY2025: $2.3MFY18FY19FY20FY21FY22FY23FY24FY25FY26
DCI $426.3MFTEK $2.3M

Fiscal years as each company reports them; the two may end in different months.

Questions about DONALDSON and Fuel Tech

Which is bigger by revenue, DONALDSON or Fuel Tech?

DONALDSON is bigger by revenue: $3.9B in fiscal 2026, against $26.7M for Fuel Tech in fiscal 2025.

Which keeps more of its revenue as profit, DONALDSON or Fuel Tech?

DONALDSON had a net margin of 11.7% in fiscal 2026; Fuel Tech had -8.7% in fiscal 2025.

Which grew revenue faster, DONALDSON or Fuel Tech?

In their latest fiscal years revenue changed by +5.3% at DONALDSON and +6.1% at Fuel Tech.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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