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Industrial distribution · Industrials · Fiscal year ends Dec 31
Resideo Technologies reported revenue of $7.5B in the fiscal year ended Dec 2025, up 10.5% from the year before. Operating income was $607M, an operating margin of 8.1%, and net income was −$527M. Operating cash flow of −$1.1B less capital expenditure of $116M left free cash flow of −$1.3B. Net debt was $2.5B.
Ranks among the 15 industrial distribution 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 | 5,846 | 6,370 | 6,242 | 6,761 | 7,472 |
| Cost of revenue | 4,262 | 4,604 | 4,546 | 4,860 | 5,276 |
| Gross profit | 1,584 | 1,766 | 1,696 | 1,901 | 2,196 |
| Research & development | 86.0 | 111 | 109 | 111 | 167 |
| Selling, general & admin | 909 | 974 | 960 | 1,138 | 1,266 |
| Operating income | 559 | 611 | 547 | 520 | 607 |
| Net interest incomeBanks | −47.0 | −54.0 | −65.0 | – | – |
| Interest expense | 48.0 | 54.0 | 65.0 | 81.0 | 135 |
| Pre-tax income | 353 | 418 | 313 | 221 | −457 |
| Income tax | 111 | 135 | 103 | 105 | 70.0 |
| Net income | 242 | 283 | 210 | 116 | −527 |
| Diluted EPS | 1.63 | 1.90 | 1.42 | 0.61 | −3.77 |
| Diluted shares | 148 | 149 | 148 | 149 | 149 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 775 | 326 | 636 | 692 | 661 |
| Receivables | 876 | 1,002 | 973 | 1,023 | 1,073 |
| Inventory | 740 | 975 | 941 | 1,237 | 1,354 |
| Current assets | 2,541 | 2,502 | 2,743 | 3,172 | 3,358 |
| Net PP&E | 287 | 366 | 390 | 410 | 447 |
| Goodwill | 2,661 | 2,724 | 2,705 | 3,072 | 3,100 |
| Total assets | 5,853 | 6,387 | 6,645 | 8,199 | 8,433 |
| Payables | 883 | 894 | 905 | 1,073 | 1,131 |
| Deferred revenue | 94.0 | 98.0 | 4.0 | 29.0 | 41.0 |
| Current liabilities | 1,494 | 1,546 | 1,525 | 1,790 | 1,755 |
| Short-term debt | 10.0 | 12.0 | 12.0 | 6.0 | 18.0 |
| Long-term debt | 1,220 | 1,404 | 1,396 | 1,983 | 3,167 |
| Total liabilities | 3,601 | 3,858 | 3,896 | 4,890 | 5,516 |
| Shareholders' equity | 2,252 | 2,529 | 2,749 | 3,309 | 2,917 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 315 | 152 | 440 | 444 | −1,137 |
| Capital expenditure | 63.0 | 85.0 | 105 | 80.0 | 116 |
| Free cash flow | 252 | 67.0 | 335 | 364 | −1,253 |
| Depreciation & amortisation | 88.0 | 94.0 | 98.0 | 144 | 195 |
| Stock-based compensation | 39.0 | 50.0 | 44.0 | 59.0 | 57.0 |
| Acquisitions | 11.0 | 665 | 16.0 | 1,337 | 0.0 |
| Share buybacks | 0.0 | 0.0 | 41.0 | 1.0 | 0.0 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 9.0% | −2.0% | 8.3% | 10.5% |
| Operating income growth (YoY) | – | 9.3% | −10.5% | −4.9% | 16.7% |
| EPS growth (YoY) | – | 16.6% | −25.3% | −57.0% | −718.0% |
| Gross margin | 27.1% | 27.7% | 27.2% | 28.1% | 29.4% |
| Operating margin | 9.6% | 9.6% | 8.8% | 7.7% | 8.1% |
| Net margin | 4.1% | 4.4% | 3.4% | 1.7% | −7.1% |
| Return on equityBlank when equity is negative | 10.7% | 11.2% | 7.6% | 3.5% | −18.1% |
| ROCEEBIT ÷ (assets − current liabilities) | 12.8% | 12.6% | 10.7% | 8.1% | 9.1% |
| Free cash flow margin | 4.3% | 1.1% | 5.4% | 5.4% | −16.8% |
| Cash conversion (CFO ÷ net income) | 1.30x | 0.54x | 2.10x | 3.83x | 2.16x |
| Receivable days | 55 | 57 | 57 | 55 | 52 |
| Inventory days | 63 | 77 | 76 | 93 | 94 |
| Payable days | 76 | 71 | 73 | 81 | 78 |
| Interest cover | 11.6x | 11.3x | 8.42x | 6.42x | 4.50x |
| Debt ÷ equity | 0.55x | 0.56x | 0.51x | 0.60x | 1.09x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 455 | 1,090 | 772 | 1,297 | 2,524 |
| Current ratio | 1.70x | 1.62x | 1.80x | 1.77x | 1.91x |
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.