Ingersoll Rand
IR · NYSEGeneral Industrial Machinery & Equipment · Fiscal year ends Dec 31
Ingersoll Rand reported revenue of $7.7B in the fiscal year ended Dec 2025, up 5.7% from the year before. Operating income was $1.1B, an operating margin of 15.0%, and net income was $581M. Operating cash flow of $1.4B less capital expenditure of $136M left free cash flow of $1.2B. Net debt was $3.5B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $5.2B | $5.9B | $6.9B | $7.2B | $7.7B |
| Cost of revenue | $3.2B | $3.6B | $4B | $4.1B | $4.3B |
| Gross profit | $2B | $2.3B | $2.9B | $3.2B | $3.3B |
| Research & development | $74M | $91M | $108M | $117M | $114M |
| Selling, general & admin | $1B | $1.1B | $1.3B | $1.3B | $1.4B |
| Operating income | $566M | $817M | $1.2B | $1.3B | $1.1B |
| Interest expense | $88M | $103M | $157M | $213M | $254M |
| Pre-tax income | $513M | $742M | $1B | $1.1B | $935M |
| Income tax | −$22M | $150M | $240M | $263M | $219M |
| Net income | $563M | $605M | $779M | $839M | $581M |
| Diluted EPS | 1.34 | 1.47 | 1.90 | 2.06 | 1.45 |
| Diluted shares | 421M | 410M | 409M | 407M | 401M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $2.1B | $1.6B | $1.6B | $1.5B | $1.2B |
| Receivables | $949M | $1.1B | $1.2B | $1.3B | $1.5B |
| Inventory | $854M | $1B | $1B | $1.1B | $1.2B |
| Current assets | $4.1B | $4B | $4.1B | $4.2B | $4.2B |
| Net PP&E | $649M | $624M | $711M | $842M | $930M |
| Goodwill | $6B | $6.1B | $6.6B | $8.1B | $8.5B |
| Total assets | $15.2B | $14.8B | $15.6B | $18B | $18.3B |
| Payables | $671M | $779M | $801M | $844M | $996M |
| Deferred revenue | $242M | $306M | $331M | $319M | $347M |
| Current liabilities | $1.5B | $1.7B | $1.8B | $1.8B | $2.1B |
| Short-term debt | $39M | $37M | $31M | $3M | $1M |
| Long-term debt | $2.8B | $2.7B | $2.7B | $4.8B | $4.8B |
| Total liabilities | $6.1B | $5.5B | $5.7B | $7.8B | $8.1B |
| Shareholders' equity | $9B | $9.2B | $9.8B | $10.2B | $10.1B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $628M | $865M | $1.4B | $1.4B | $1.4B |
| Capital expenditure | $64M | $95M | $105M | $149M | $136M |
| Free cash flow | $564M | $771M | $1.3B | $1.2B | $1.2B |
| Depreciation & amortisation | $422M | $433M | $459M | $482M | $506M |
| Stock-based compensation | $87M | $79M | $52M | $59M | $53M |
| Acquisitions | $975M | $247M | $963M | $3B | $525M |
| Share buybacks | $737M | $261M | $263M | $261M | $1B |
| Dividends paid | $8M | $32M | $32M | $32M | $32M |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 14.8% | 16.2% | 5.2% | 5.7% |
| Operating income growth (YoY) | – | 44.5% | 42.5% | 11.7% | −12.0% |
| EPS growth (YoY) | – | 9.7% | 29.3% | 8.4% | −29.6% |
| Gross margin | 38.6% | 39.3% | 41.9% | 43.8% | 43.6% |
| Operating margin | 11.0% | 13.8% | 16.9% | 18.0% | 15.0% |
| Net margin | 10.9% | 10.2% | 11.3% | 11.6% | 7.6% |
| Return on equityBlank when equity is negative | 6.2% | 6.6% | 8.0% | 8.2% | 5.8% |
| ROCEEBIT ÷ (assets − current liabilities) | 4.1% | 6.2% | 8.5% | 8.0% | 7.1% |
| Free cash flow margin | 10.9% | 13.0% | 18.5% | 17.2% | 15.9% |
| Cash conversion (CFO ÷ net income) | 1.12x | 1.43x | 1.77x | 1.67x | 2.33x |
| Receivable days | 67 | 69 | 66 | 67 | 72 |
| Inventory days | 99 | 104 | 91 | 95 | 99 |
| Payable days | 77 | 79 | 73 | 76 | 84 |
| Interest cover | 6.45x | 7.92x | 7.43x | 6.10x | 4.51x |
| Debt ÷ equity | 0.31x | 0.30x | 0.28x | 0.47x | 0.47x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $707M | $1.1B | $1.1B | $3.2B | $3.5B |
| Current ratio | 2.80x | 2.37x | 2.22x | 2.29x | 2.06x |
Recent filings
More in General Industrial Machinery & Equipment
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.