Carlisle Companies
CSL · NYSEFabricated Rubber Products, NEC · Fiscal year ends Dec 31
Carlisle Companies reported revenue of $5B in the fiscal year ended Dec 2025, up 0.3% from the year before. Operating income was $1B, an operating margin of 20.0%, and net income was $741M. Operating cash flow of $1.1B less capital expenditure of $131M left free cash flow of $971M. Net debt was $1.8B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $3.8B | $5.4B | $4.6B | $5B | $5B |
| Cost of revenue | $2.7B | $3.6B | $3B | $3.1B | $3.2B |
| Gross profit | $1.1B | $1.9B | $1.6B | $1.9B | $1.8B |
| Research & development | $16M | $19M | $29M | $35M | $47M |
| Selling, general & admin | $508M | $624M | $625M | $723M | $745M |
| Operating income | $573M | $1.2B | $983M | $1.1B | $1B |
| Net interest incomeBanks | −$80M | −$86M | −$76M | – | – |
| Interest expense | – | $86M | $76M | $73M | $79M |
| Pre-tax income | $490M | $1.1B | $930M | $1.1B | $949M |
| Income tax | $104M | $266M | $212M | $246M | $206M |
| Net income | $422M | $924M | $767M | $1.3B | $741M |
| Diluted EPS | 7.91 | 17.56 | 15.18 | 27.82 | 17.12 |
| Diluted shares | 53M | 53M | 50M | 47M | 43M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $324M | $365M | $577M | $754M | $1.1B |
| Receivables | $815M | $615M | $615M | $580M | $594M |
| Inventory | $605M | $518M | $362M | $473M | $447M |
| Current assets | $2.2B | $2.2B | $3.4B | $1.9B | $2.3B |
| Net PP&E | $760M | $602M | $655M | $712M | $807M |
| Goodwill | $1.2B | $1.2B | $1.2B | $1.5B | $1.5B |
| Total assets | $7.2B | $7.2B | $6.6B | $5.8B | $6.3B |
| Payables | $432M | $274M | $246M | $261M | $233M |
| Deferred revenue | $34M | $24M | $26M | $28M | $372M |
| Current liabilities | $1.2B | $1.1B | $1.2B | $666M | $736M |
| Short-term debt | $352M | $302M | $403M | $3M | $5M |
| Long-term debt | $2.6B | $2.3B | $1.9B | $1.9B | $2.9B |
| Shareholders' equity | $2.6B | $3B | $2.8B | $2.5B | $1.8B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $422M | $1B | $1.2B | $1B | $1.1B |
| Capital expenditure | $135M | $184M | $142M | $113M | $131M |
| Free cash flow | $287M | $817M | $1.1B | $917M | $971M |
| Depreciation & amortisation | $120M | $159M | $151M | $173M | $197M |
| Stock-based compensation | $19M | $31M | $42M | $30M | $35M |
| Acquisitions | $1.6B | $25M | $36M | $677M | $110M |
| Share buybacks | $316M | $400M | $900M | $1.6B | $1.3B |
| Dividends paid | $113M | $134M | $160M | $172M | $181M |
| Dividend per share | 2.13 | 2.58 | 3.20 | 3.70 | 4.20 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 42.0% | −15.8% | 9.1% | 0.3% |
| Operating income growth (YoY) | – | 110.1% | −18.4% | 16.3% | −12.3% |
| EPS growth (YoY) | – | 122.0% | −13.6% | 83.3% | −38.5% |
| Gross margin | 28.6% | 34.2% | 35.6% | 37.7% | 35.7% |
| Operating margin | 14.9% | 22.1% | 21.4% | 22.8% | 20.0% |
| Net margin | 11.0% | 17.0% | 16.7% | 26.2% | 14.8% |
| Return on equityBlank when equity is negative | 16.0% | 30.6% | 27.1% | 53.3% | 41.3% |
| ROCEEBIT ÷ (assets − current liabilities) | 9.4% | 19.6% | 18.1% | 22.2% | 18.1% |
| Free cash flow margin | 7.5% | 15.0% | 23.1% | 18.3% | 19.3% |
| Cash conversion (CFO ÷ net income) | 1.00x | 1.08x | 1.57x | 0.79x | 1.49x |
| Receivable days | 77 | 41 | 49 | 42 | 43 |
| Inventory days | 81 | 53 | 45 | 55 | 51 |
| Payable days | 58 | 28 | 30 | 31 | 26 |
| Interest cover | – | 14.0x | 13.0x | 15.6x | 12.8x |
| Debt ÷ equity | 1.11x | 0.85x | 0.81x | 0.77x | 1.61x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $2.6B | $2.2B | $1.7B | $1.1B | $1.8B |
| Current ratio | 1.84x | 2.08x | 2.87x | 2.89x | 3.09x |
Recent filings
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.