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Electrical equipment & parts · Industrials · Fiscal year ends Dec 31
Franklin Electric reported revenue of $2.1B in the fiscal year ended Dec 2025, up 5.4% from the year before. Operating income was $269M, an operating margin of 12.6%, and net income was $147M. Operating cash flow of $239M less capital expenditure of $45M left free cash flow of $194M. Net debt was $67M.
Ranks among the 16 electrical equipment & parts companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 1,662 | 2,044 | 2,065 | 2,021 | 2,131 |
| Cost of revenue | 1,086 | 1,352 | 1,368 | 1,304 | 1,375 |
| Gross profit | 576 | 691 | 697 | 717 | 756 |
| Research & development | 17.3 | 16.7 | 17.7 | 21.5 | 20.0 |
| Selling, general & admin | 386 | 432 | 433 | 470 | 486 |
| Operating income | 189 | 257 | 262 | 244 | 269 |
| Interest expense | 5.2 | 11.5 | 11.8 | 6.3 | 10.6 |
| Pre-tax income | 190 | 235 | 242 | 232 | 195 |
| Income tax | 34.7 | 46.4 | 47.5 | 50.2 | 46.0 |
| Net income | 154 | 187 | 193 | 180 | 147 |
| Diluted EPS | 3.25 | 3.97 | 4.11 | 3.86 | 3.22 |
| Diluted shares | 47.0 | 47.0 | 46.9 | 46.5 | 45.5 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 40.5 | 45.8 | 85.0 | 221 | 99.7 |
| Receivables | 196 | 230 | 222 | 227 | 248 |
| Inventory | 450 | 545 | 509 | 484 | 553 |
| Current assets | 725 | 858 | 854 | 964 | 959 |
| Net PP&E | 211 | 215 | 230 | 224 | 252 |
| Goodwill | 330 | 328 | 342 | 339 | 398 |
| Total assets | 1,575 | 1,694 | 1,728 | 1,821 | 1,944 |
| Payables | 165 | 139 | 152 | 157 | 175 |
| Current liabilities | 396 | 406 | 287 | 434 | 344 |
| Short-term debt | 98.0 | 127 | 12.4 | 118 | 31.8 |
| Long-term debt | 90.5 | 89.3 | 88.1 | 11.6 | 135 |
| Total liabilities | 627 | 624 | 519 | 552 | 619 |
| Shareholders' equity | 947 | 1,068 | 1,207 | 1,266 | 1,323 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 130 | 102 | 316 | 261 | 239 |
| Capital expenditure | 30.1 | 41.9 | 41.4 | 41.7 | 45.3 |
| Free cash flow | 99.6 | 59.8 | 274 | 220 | 194 |
| Depreciation & amortisation | 44.6 | 50.4 | 52.3 | 56.1 | 62.9 |
| Stock-based compensation | 11.7 | 11.0 | 10.1 | 12.1 | 13.2 |
| Acquisitions | 236 | 1.2 | 34.8 | 5.2 | 115 |
| Share buybacks | 25.9 | 40.5 | 43.3 | 61.0 | 166 |
| Dividends paid | 33.4 | 37.0 | 41.7 | 46.9 | 50.0 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 23.0% | 1.0% | −2.1% | 5.4% |
| Operating income growth (YoY) | – | 35.9% | 2.0% | −7.2% | 10.4% |
| EPS growth (YoY) | – | 22.2% | 3.5% | −6.1% | −16.6% |
| Gross margin | 34.7% | 33.8% | 33.8% | 35.5% | 35.5% |
| Operating margin | 11.4% | 12.6% | 12.7% | 12.1% | 12.6% |
| Net margin | 9.3% | 9.2% | 9.4% | 8.9% | 6.9% |
| Return on equityBlank when equity is negative | 16.3% | 17.5% | 16.0% | 14.2% | 11.1% |
| ROCEEBIT ÷ (assets − current liabilities) | 16.0% | 20.0% | 18.2% | 17.6% | 16.8% |
| Free cash flow margin | 6.0% | 2.9% | 13.3% | 10.9% | 9.1% |
| Cash conversion (CFO ÷ net income) | 0.84x | 0.54x | 1.63x | 1.45x | 1.62x |
| Receivable days | 43 | 41 | 39 | 41 | 42 |
| Inventory days | 151 | 147 | 136 | 135 | 147 |
| Payable days | 55 | 38 | 41 | 44 | 46 |
| Interest cover | 36.4x | 22.3x | 22.3x | 38.6x | 25.3x |
| Debt ÷ equity | 0.20x | 0.20x | 0.08x | 0.10x | 0.13x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 148 | 170 | 15.4 | −91.1 | 67.3 |
| Current ratio | 1.83x | 2.11x | 2.97x | 2.22x | 2.79x |
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.