Emerson Electric
EMR · NYSEElectronic & Other Electrical Equipment (No Computer Equip) · Fiscal year ends Sep 30
Emerson Electric reported revenue of $18B in the fiscal year ended Sep 2025, up 3.0% from the year before. Net income was $2.3B. Operating cash flow of $3.1B less capital expenditure of $431M left free cash flow of $2.7B. Net debt was $7.4B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Sep 2022 | Dec 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue | $13.8B | $1.7B | $15.2B | $17.5B | $18B |
| Cost of revenue | $7.5B | – | $7.7B | $8.6B | $8.5B |
| Gross profit | $6.3B | – | $7.4B | $8.9B | $9.5B |
| Research & development | $385M | – | $523M | $781M | $771M |
| Selling, general & admin | $3.6B | – | $4.2B | $5.1B | $5.1B |
| Pre-tax income | $2.4B | – | $2.9B | $2B | $2.9B |
| Income tax | $549M | – | $642M | $415M | $696M |
| Net income | $3.2B | – | $13.2B | $2B | $2.3B |
| Diluted EPS | 5.41 | – | 22.88 | 3.43 | 4.04 |
| Diluted shares | 596M | – | 577M | 574M | 567M |
Balance sheet
| Fiscal year | Sep 2022 | Dec 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $1.8B | $2.3B | $8.1B | $3.6B | $1.5B |
| Receivables | $2.3B | $2.2B | $2.5B | $2.9B | $3.1B |
| Inventory | $1.7B | $2B | $2B | $2.2B | $2.2B |
| Current assets | $8.5B | $9B | $13.8B | $10.2B | $8.6B |
| Net PP&E | $2.2B | $2.3B | $2.4B | $2.8B | $2.9B |
| Goodwill | $13.9B | $14.1B | $14.5B | $18.1B | $18.2B |
| Total assets | $35.7B | $36.2B | $42.7B | $44.2B | $42B |
| Payables | $1.3B | $1.2B | $1.3B | $1.3B | $1.4B |
| Deferred revenue | $751M | $901M | $861M | $1B | $1B |
| Current liabilities | $7.8B | $8.2B | $5B | $5.7B | $9.8B |
| Short-term debt | $516M | $1.8B | $546M | $532M | $605M |
| Long-term debt | $8.3B | $8.2B | $7.6B | $7.2B | $8.3B |
| Shareholders' equity | $10.4B | $10.7B | $20.7B | $21.6B | $20.3B |
| Backlog (remaining obligations) | $8.1B | $7.8B | $7.8B | $8.4B | $8.6B |
Cash flow
| Fiscal year | Sep 2022 | Dec 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $2.9B | – | $637M | $3.3B | $3.1B |
| Capital expenditure | $299M | – | $363M | $419M | $431M |
| Free cash flow | $2.6B | – | $274M | $2.9B | $2.7B |
| Depreciation & amortisation | $842M | – | $1.1B | $1.7B | $1.5B |
| Stock-based compensation | $125M | – | $250M | $260M | $263M |
| Acquisitions | $5.7B | – | $705M | $8.3B | $37M |
| Share buybacks | $500M | – | $2B | $435M | $1.2B |
| Dividends paid | $1.2B | – | $1.2B | $1.2B | $1.2B |
| Dividend per share | 2.06 | – | 2.08 | 2.10 | 2.11 |
Key ratios
| Fiscal year | Sep 2022 | Dec 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −88.0% | 813.6% | 15.3% | 3.0% |
| EPS growth (YoY) | – | – | – | −85.0% | 17.8% |
| Gross margin | 45.7% | – | 49.0% | 50.8% | 52.8% |
| Net margin | 23.4% | – | 87.2% | 11.3% | 12.7% |
| Return on equityBlank when equity is negative | 31.2% | – | 63.9% | 9.1% | 11.3% |
| Free cash flow margin | 19.0% | – | 1.8% | 16.7% | 14.8% |
| Cash conversion (CFO ÷ net income) | 0.90x | – | 0.05x | 1.69x | 1.35x |
| Receivable days | 60 | 491 | 61 | 61 | 63 |
| Inventory days | 85 | – | 95 | 92 | 95 |
| Payable days | 62 | – | 60 | 57 | 59 |
| Debt ÷ equity | 0.85x | 0.93x | 0.39x | 0.36x | 0.44x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $7B | $7.7B | $105M | $4.1B | $7.4B |
| Current ratio | 1.09x | 1.10x | 2.75x | 1.77x | 0.88x |
Recent filings
More in Electronic & Other Electrical Equipment (No Computer Equip)
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.