Donaldson Company, Inc. · DCI · FY2025 Q4 · Calendar Q3 2025

Donaldson closes FY2025 with record sales and margin outlook

The current analysis supports a constructive operating trajectory: record FY2025 results, aftermarket share gains, connected-machine expansion, cost actions, and new life-sciences products support management's FY2026 plan. Evidence remains conditional on cyclical recovery, tariff control, and bioprocessing execution.

Reported Before market openNYSEIndustrials $10.08B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $1.03 Consensus $1.02
EPS surprise +1.0% Reported versus consensus
Reported revenue $980.7M Consensus $951.5M
Revenue surprise +3.1% Reported versus consensus

Market reaction

prior-close to event-session close
Stock move +8.6% Event window
SPY move +0.2% Same window
Abnormal move +8.4% Stock minus SPY
Volume 3.3× Versus trailing sessions
Subsequent drift -2.6% Up to 20 sessions
DCISPY benchmark

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Transcript intelligence

What changed

The latest analysis adds a maintained FY2026 outlook, the RPS Associates acquisition, a manufacturing-grade Purexa launch, and a projected 30% increase in connected machines. Compared with the prior quarter, emphasis shifted from a raised near-term outlook to execution against the FY2026 plan.

Guidance delta

Management maintained its outlook, targeting FY2026 sales of $3.8 billion, EPS of about $4, and a 16.4% operating margin.

Key takeaways

  • Management highlighted record FY2025 revenue and operating margin, with aftermarket growth and connected services supporting profitability.
  • New Purexa products, planned connected-machine growth, cost actions, and targeted M&A underpin the FY2026 outlook.
  • The main open questions are cyclical agriculture demand, tariff-related margin pressure, and the path to bioprocessing profitability.

Management priorities

  • Scale Purexa membrane chromatography for GMP customers
  • Increase connected machines by over 30% in FY2026 and pursue life-sciences and industrial M&A

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Earnings History

Estimate Beat Miss Match
DCI EPS earnings history estimate and actual scatter chart 10 reported fiscal quarters and 4 future estimate-only quarters. Q3 '24 estimate $0.84 Q3 '24 actual $0.92, beat Q4 '24 estimate $0.89 Q4 '24 actual $0.94, beat Q3 '25 estimate $0.95 Q3 '25 actual $0.99, beat Q4 '25 estimate $1.02 Q4 '25 actual $1.03, match Q1 '26 estimate $0.92 Q1 '26 actual $0.94, beat Q2 '26 estimate $0.90 Q2 '26 actual $0.83, miss Q3 '26 estimate $1.05 Q3 '26 actual $1.06, match Q4 '26 estimate $1.13 Q4 '26 actual $1.15, beat Q1 '27 estimate $0.97 Q2 '27 estimate $0.89 Q3 '27 estimate $1.17 Q4 '27 estimate $1.29
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Analyst Consensus ?

ConsensusHold14 ratings
Bullish535.7%
Neutral642.9%
Bearish321.4%

Analyst 52W Price Targets

$86.93Current
$63Low
$92.45Average
$123High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 11, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Morgan Stanley Equal Weight Equal WeightMaintainSep 29, 2026
Baird Outperform OutperformMaintainAug 27, 2026
Stifel Hold HoldMaintainJun 4, 2026
Jefferies Buy BuyMaintainFeb 3, 2026
Stifel Nicolaus Hold HoldMaintainSep 14, 2018
Edward Jones Buy HoldUpgradeMar 29, 2018
Gabelli & Co. Buy NeutralUpgradeMar 7, 2018
CL King Buy BuyMaintainJun 8, 2016
Avondale Partners Market Perform Market PerformMaintainMar 21, 2016
SunTrust Robinson Humphrey Neutral NeutralMaintainNov 3, 2015
Bank of America Underperform BuyDowngradeOct 29, 2013
B of A Securities Underperform BuyDowngradeOct 29, 2013
BMO Capital Underperform Market PerformDowngradeJul 31, 2013
Oppenheimer Perform PerformMaintainOct 19, 2012
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Named analyst price targets

Upside is calculated against the persisted current price $86.93. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Morgan StanleyAnalyst unavailable$95$87.78 +9.3%Sep 29, 2026
Stifel NicolausAnalyst unavailable$95$91.55 +9.3%Aug 28, 2026
Robert W. BairdAnalyst unavailable$105$93.97 +20.8%Aug 19, 2026
Stifel NicolausAnalyst unavailable$91$85.24 +4.7%Jun 4, 2026
Wells FargoAnalyst unavailable$91$85.24 +4.7%Jun 4, 2026
Morgan StanleyAngel Castillo$91$88.95 +4.7%Mar 9, 2026
UBSAnalyst unavailable$96$106.96 +10.4%Feb 24, 2026
JefferiesAnalyst unavailable$123$101.13 +41.5%Feb 2, 2026
Robert W. BairdAnalyst unavailable$110$101.77 +26.5%Feb 2, 2026
JefferiesAnalyst unavailable$120$93.02 +38.0%Jan 9, 2026
Robert W. BairdAnalyst unavailable$100$94.16 +15.0%Dec 5, 2025
Stifel NicolausAdam Farley$96$94.16 +10.4%Dec 5, 2025
Robert W. BairdAnalyst unavailable$96$88.16 +10.4%Dec 3, 2025
Morgan StanleyAnalyst unavailable$84$88.53 -3.4%Nov 24, 2025
Stifel NicolausAdam Farley$90$87.68 +3.5%Nov 24, 2025
Robert W. BairdAnalyst unavailable$85$79.67 -2.2%Aug 29, 2025
Stifel NicolausAnalyst unavailable$84$80.12 -3.4%Aug 28, 2025
Stifel NicolausNathan Jones$63$63.4 -27.5%Apr 14, 2025
Robert W. BairdRichard Eastman$81$77.74 -6.8%Dec 2, 2024
JefferiesLaurence Alexander$81$72.59 -6.8%Jun 4, 2024
Robert W. BairdRichard Eastman$79$73.68 -9.1%Jun 3, 2024
Morgan StanleyAngel Castillo$62$72.46 -28.7%Apr 15, 2024
Robert W. BairdRichard Eastman$80$74.17 -8.0%Apr 11, 2024
Morgan StanleyAnalyst unavailable$66$60.75 -24.1%Dec 1, 2022
Stifel NicolausNathan Jones$51$48.71 -41.3%Jul 18, 2022
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Company context

Snapshot as of publication

Donaldson Company, Inc. (DCI) is a global enterprise that develops, manufactures, and distributes an extensive range of filtration systems and their corresponding replacement parts. The company's operations are strategically divided into two core business units: Engine Products and Industrial Products. The Engine Products division provides a variety of solutions, including replacement filters for both air and liquid filtration needs, comprehensive air filtration systems, and specialized liquid filtration systems designed for fuel, lubrication, and hydraulic applications. This segment also offers exhaust and emissions control technologies, alongside a suite of sensors, indicators, and monitoring systems. Its clientele primarily consists of Original Equipment Manufacturers (OEMs) within the construction, mining, agriculture, aerospace, defense, and transportation industries.…

Historical context

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
  3. Polygon adjusted daily market bars · 2026-10-11T07:20:41.402662+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-11T07:20:41.399919+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-11. For educational purposes only; not investment advice.