Emerson Electric (EMR) financials
NYSE · Industrials · Industrial - Machinery · 71,000 employees · CEO Surendralal Lanca Karsanbhai
- Price
- $164.82 -3.47%
- Market cap
- $91.9B
- Enterprise value
- $104B
- Last report
- Q3 '26 filed 2026-08-04
- Next report
- 2026-11-04 EPS est. $1.85
Revenue (TTM)$18.6B+4.8% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)20.1%+1.3 pp vs a year agoOperating income $3.75B
Net income (TTM)$2.58B-2.8% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$3.46B+26.2% vs a year agoCapex $452M
Diluted EPS (TTM)$4.57-1.8% vs a year agoSum of the last 4 quarters
Net cash-$11.6B+8.1% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $91.9B EV $104B
- Revenue
- $18.6B Trailing 12 months
- Revenue growth
- +5% FY2026 consensus
- Profit margin
- 13.8% Net income / revenue, TTM
- P/E
- 35.9× Forward 25.1× (FY2026)
- P/S
- 4.9× Price / sales, TTM
- EV / EBITDA
- 19.5× TTM
- Free cash flow
- $3.46B Trailing 12 months
- Net income
- $2.58B Trailing 12 months
- Revenue estimate
- $18.9B FY2026 consensus
- Earnings
- 2026-11-04 Revenue est. $5.11B
- Dividend
- $2.22 Per share, last 12 months
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-08-04): revenue beat by 1.4%, EPS beat by 1.8%Revenue $4.87B vs $4.8B expected (+1.4%); EPS $1.71 vs $1.68 (+1.8%).
- Revenue growth accelerating: 7.0% year on yearQ3 '26 revenue $4.87B, against an average of 4.0% over the four quarters before.
- Operating margin 20.1% (TTM), +1.3 pp on a year agoOperating income grew 12.2% while revenue grew 4.8%.
- 14.3% of pre-tax profit is eaten by non-operating lossesPre-tax income $3.28B vs operating income $3.75B (TTM). Losses on equity stakes and other one-off items cut net income and EPS - operating income is the cleaner measure of the business.
- Capex 2.4% of revenue (a year ago 2.4%)$452M invested in the last 4 quarters (+4.9% on a year earlier). Free cash flow $3.46B = 134.3% of net income.
- Returned $2.23B to shareholders = 64.3% of free cash flowBuybacks $994M (a year earlier $1.43B), dividends $1.23B, stock-based pay $246M (TTM).
- Diluted share count down 0.6% in a year561M diluted shares in Q3 '26, 565M a year earlier.
- Net debt $11.6BCash + short-term investments $2.18B, debt incl. leases $13.8B; a year ago net debt $12.7B.
Last quarter: Q3 '26
Quarter ended 2026-06-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q3 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $4.87B | $4.55B | +7.0% |
| Gross margin | 54.5% | 52.6% | +1.9 pp |
| Operating income | $1B | $908M | +10.2% |
| Operating margin | 20.5% | 19.9% | +0.6 pp |
| Net income | $718M | $586M | +22.5% |
| Diluted EPS | $1.28 | $1.04 | +23.1% |
| Operating cash flow | $1.42B | $1.07B | +33.1% |
| Capex | $102M | $93M | +9.7% |
| Free cash flow | $1.32B | $977M | +35.3% |
| R&D | $0 | $0 | – |
| Stock-based compensation | $68M | $71M | -4.2% |
Reported vs consensus
2026-08-04| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $4.87B | $4.8B | +1.4% |
| EPS (as estimated) | $1.71 | $1.68 | +1.8% |
From the report of 2026-08-04 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Intelligent Devices | $2.68B | -14.3% | 54.9% | $11B | -10.6% | |
| Software And Systems | $1.64B | – | 33.7% | – | – | |
| Software and Control | – | – | – | – | – | |
| Final Control | $552M | – | 11.3% | – | – | |
| Safety and Productivity | – | – | – | – | – | |
| Safety And Productivity | – | – | – | – | – |
Revenue by region
share of total| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Americas | $2.54B | +7.6% | 52.1% | $9.57B | +5.6% | |
| Asia, Middle East & Africa | $1.48B | +8.8% | 30.3% | $5.53B | +2.0% | |
| Europe | $861M | +0.6% | 17.7% | $3.56B | +5.9% |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $3.91B
- Capex
- -$452M
- Buybacks
- -$994M
- Dividends
- -$1.23B
- Acquisitions
- -$1M
- Net debt issued
- -$2.55B
- Stock-based compensation
- $246M
- Free cash flow
- $3.46B
- Returned to shareholders / FCF
- 64.3%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 35.9× | 26.0× | 15.8× – 32.2× |
| EV / EBITDA | 19.5× | 17.1× | 13.3× – 22.8× |
| EV / Sales | 5.6× | 4.2× | 3.7× – 4.8× |
| Price / FCF | 26.6× | 57.7× | 18.2× – 202.4× |
| Price / Book | 4.5× | 3.8× | 2.7× – 5.7× |
| FCF yield | 3.8% | 3.9% | 0.5% – 5.5% |
| Return on invested capital | 7.9% | 6.5% | 5.4% – 8.1% |
| Return on equity | 12.7% | 27.8% | 9.1% – 63.9% |
Analysts
Consensus target $167.18 (+1.4%)
range $135.00 – $186.00 · rating Buy
Strong buy0
Buy23
Hold17
Sell3
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $18.9B | +4.8% | $6.57 | +62.5% | 25.1× | 16 |
| FY2027 | $19.9B | +5.6% | $7.29 | +11.0% | 22.6× | 17 |
| FY2028 | $21B | +5.5% | $8.08 | +10.8% | 20.4× | 9 |
| FY2029 | $22.3B | +6.1% | $8.93 | +10.5% | 18.5× | 3 |
| FY2030 | $23B | +2.9% | $9.31 | +4.3% | 17.7× | 1 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 244 figures Emerson Electric Co. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $1.61B | $1.27B | +26.8% | $1.38B | $1.34B | +3.7% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $3.06B | $2.91B | +5.1% | $3.1B | $2.93B | +5.9% |
| Accounts Receivable, Allowance for Credit Loss, Current | $130M | $125M | +4.0% | $123M | $121M | +1.7% |
| Accrued Income Taxes, Current | $69M | $126M | -45.2% | $130M | $587M | -77.9% |
| Accrued Liabilities, Current | $3.57B | $3.51B | +1.9% | $3.62B | $3.88B | -6.7% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $3.69B | $3.48B | +5.9% | $3.54B | $3.38B | +4.7% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$895M | -$850M | -5.3% | -$821M | -$868M | +5.4% |
| Additional Paid in Capital | $111M | $28M | +296.4% | $85M | $169M | -49.7% |
| Amortization of Acquisition Costs | $02025-09-30 | $0 | – | $0 | $231M | -100.0% |
| Amortization of Intangible Assets | – | – | – | $1.17B | $1.37B | -14.1% |
| Assets | $42.2B | $42.5B | -0.7% | $42B | $44.2B | -5.2% |
| Assets for Plan Benefits, Defined Benefit Plan | $1.28B | $1.26B | +2.0% | $1.23B | $1.19B | +2.9% |
| Assets, Current | $9.66B | $9.07B | +6.4% | $8.58B | $10.2B | -15.8% |
| Assets, Noncurrent, Other than Noncurrent Investments and Property, Plant and Equipment | $29.7B | $30.7B | -3.1% | $30.5B | $31.2B | -2.4% |
| Buildings and Improvements, Gross | $2.13B2025-09-30 | $2.05B | +3.9% | $2.13B | $2.05B | +3.9% |
| Business Acquisition, Goodwill, Expected Tax Deductible Amount | – | – | – | $121M2023-10-11 | – | – |
| Business Combination, Acquisition Related Costs | $22M | $25M | -12.0% | $214M | $96M | +122.9% |
| Capitalized Computer Software, Amortization | $28M | $22M | +27.3% | $91M | $92M | -1.1% |
| Cash Provided by (Used in) Investing Activities, Discontinued Operations | $02025-09-30 | $3.4B | -100.0% | $0 | $3.44B | -100.0% |
| Cash Provided by (Used in) Operating Activities, Discontinued Operations | $0 | $9M | -100.0% | -$578M | $15M | -3,953.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $2.18B | $2.22B | -1.8% | $1.54B | $3.59B | -57.0% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | $2.18B | $2.22B | -1.8% | – | – | – |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $389M | $332M | +17.2% | -$2.04B | -$4.46B | +54.2% |
| Collateral Already Posted, Aggregate Fair Value | $0 | $0 | – | $0 | $0 | – |
| Commercial Paper | $4.19B2025-09-30 | $0 | – | $4.19B | $0 | – |
| Commitments and Contingencies | $02025-09-30 | $0 | – | $0 | $0 | – |
| Common Stock, Capital Shares Reserved for Future Issuance | 21.6M2025-09-30 | 23.3M | -7.3% | 21.6M | 23.3M | -7.3% |
| Common Stock, Dividends, Per Share, Cash Paid | $0.56 | $0.53 | +5.2% | $2.11 | $2.10 | +0.5% |
| Common Stock, Par or Stated Value Per Share | $0.50 | $0.50 | 0.0% | $0.50 | $0.50 | 0.0% |
| Common Stock, Shares Authorized | 1.2B | 1.2B | 0.0% | 1.2B | 1.2B | 0.0% |
| Common Stock, Shares, Issued | 953M | 953M | 0.0% | 953M | 953M | 0.0% |
| Common Stock, Shares, Outstanding | 558M | 563M | -0.9% | 563M | 570M | -1.3% |
| Common Stock, Value, Issued | $477M | $477M | 0.0% | $477M | $477M | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | -$1M | $1M | -200.0% | -$51M | -$9M | -466.7% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $684M | $886M | -22.8% | $2.34B | $2.35B | -0.6% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $683M | $887M | -23.0% | $2.29B | $2.34B | -2.3% |
| Construction in Progress, Gross | $314M2025-09-30 | $321M | -2.2% | $314M | $321M | -2.2% |
| Contract with Customer, Asset, after Allowance for Credit Loss | $2.01B | $1.8B | +12.0% | $1.89B | $1.6B | +18.3% |
| Contract with Customer, Liability | $1.22B | $1.21B | +1.6% | $1.11B | $1.12B | -0.9% |
| Contract with Customer, Liability, Current | $1.13B | $1.13B | +0.4% | $1.03B | $1.04B | -1.2% |
| Contract with Customer, Liability, Revenue Recognized | $119M | $65M | +83.1% | $798M | $635M | +25.7% |
| Cost of Goods and Services Sold | $2.22B | $2.16B | +2.7% | $8.5B | $8.61B | -1.3% |
| Cost, Amortization | $49M | $50M | -2.0% | $199M | $197M | +1.0% |
| Current Federal Tax Expense (Benefit) | – | – | – | $463M | $325M | +42.5% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $481M | $452M | +6.4% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $56M | $34M | +64.7% |
| Debt and Equity Securities, Unrealized Gain (Loss) | – | – | – | $24M2023-09-30 | -$50M | +148.0% |
| Debt, Current | $5.59B | $5.95B | -6.1% | $4.8B | $532M | +801.7% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$212M | -$284M | +25.4% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$103M | -$94M | -9.6% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $11M | -$18M | +161.1% |
| Deferred Tax Assets, Deferred Income | $78M | $55M | +41.8% | $79M | $64M | +23.4% |
| Deferred Tax Assets, Gross | $809M2025-09-30 | $746M | +8.4% | $809M | $746M | +8.4% |
| Deferred Tax Assets, Other | $249M2025-09-30 | $176M | +41.5% | $249M | $176M | +41.5% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | $122M2025-09-30 | $121M | +0.8% | $122M | $121M | +0.8% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | $149M2025-09-30 | $149M | 0.0% | $149M | $149M | 0.0% |
| Deferred Tax Assets, Valuation Allowance | $251M2025-09-30 | $256M | -2.0% | $251M | $256M | -2.0% |
| Deferred Tax Liabilities, Gross | $1.7B | $1.91B | -11.4% | $2.3B | $2.56B | -10.3% |
| Deferred Tax Liabilities, Intangible Assets | $1.87B2025-09-30 | $2.16B | -13.4% | $1.87B | $2.16B | -13.4% |
| Deferred Tax Liabilities, Net | $1.74B2025-09-30 | $2.07B | -16.0% | $1.74B | $2.07B | -16.0% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-Q 2025-12-31, 10-K 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-Q 2024-12-31, 10-K 2024-09-30, 10-Q 2024-06-30
Data as of 2026-11-01