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Stocks · Industrials · General Industrial Machinery & Equipment

Gates Industrial Corp Ltd.

GTES Clue Score41
United States Fiscal year ends December CIK 0001718512
$26.67 -0.26% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $26.67 +1.33% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 20 Jul 2026. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2018Revenue3,347.6Operating income496.8Net income245.3EPS, diluted0.84Fiscal year 2019Revenue3,087.1 −7.8%Operating income346.8Net income690.1 +181.3%EPS, diluted2.37 +182.1%Fiscal year 2021Revenue2,793.0 −9.5%Operating income211.1Net income79.4 −88.5%EPS, diluted0.27 −88.6%Fiscal year 2022Revenue3,474.4 +24.4%Operating income484.1Net income297.1 +274.2%EPS, diluted1.00 +270.4%Fiscal year 2022Revenue3,554.2 +2.3%Operating income384.0Net income220.8 −25.7%EPS, diluted0.77 −23.0%Fiscal year 2023Revenue3,570.2 +0.5%Operating income460.1Net income232.9 +5.5%EPS, diluted0.84 +9.1%Fiscal year 2024Revenue3,408.2 −4.5%Operating income472.2Net income194.9 −16.3%EPS, diluted0.74 −11.9%Fiscal year 2025Revenue3,443.2 +1.0%Operating income465.3Net income251.4 +29.0%EPS, diluted0.96 +29.7%
FY2018FY2019FY2021FY2022FY2022FY2023FY2024FY2025
Revenue 3,347.6 3,087.1 2,793.0 3,474.4 3,554.2 3,570.2 3,408.2 3,443.2
Growth −7.8% −9.5% +24.4% +2.3% +0.5% −4.5% +1.0%
Operating income 496.8 346.8 211.1 484.1 384.0 460.1 472.2 465.3
Net income 245.3 690.1 79.4 297.1 220.8 232.9 194.9 251.4
Growth +181.3% −88.5% +274.2% −25.7% +5.5% −16.3% +29.0%
EPS, diluted 0.84 2.37 0.27 1.00 0.77 0.84 0.74 0.96
Growth +182.1% −88.6% +270.4% −23.0% +9.1% −11.9% +29.7%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2018Gross margin39.7%Operating margin14.8%Net margin7.3%Free cash flow margin4.4%Fiscal year 2019Gross margin37.0%Operating margin11.2%Net margin22.4%Free cash flow margin9.0%Fiscal year 2021Gross margin37.0%Operating margin7.6%Net margin2.8%Free cash flow margin9.0%Fiscal year 2022Gross margin38.5%Operating margin13.9%Net margin8.6%Free cash flow margin8.8%Fiscal year 2022Gross margin35.2%Operating margin10.8%Net margin6.2%Free cash flow margin5.3%Fiscal year 2023Gross margin38.1%Operating margin12.9%Net margin6.5%Free cash flow margin11.8%Fiscal year 2024Gross margin39.9%Operating margin13.9%Net margin5.7%Free cash flow margin8.7%Fiscal year 2025Gross margin39.8%Operating margin13.5%Net margin7.3%Free cash flow margin11.8%
FY2018FY2019FY2021FY2022FY2022FY2023FY2024FY2025
Gross margin 39.7% 37.0% 37.0% 38.5% 35.2% 38.1% 39.9% 39.8%
Operating margin 14.8% 11.2% 7.6% 13.9% 10.8% 12.9% 13.9% 13.5%
Net margin 7.3% 22.4% 2.8% 8.6% 6.2% 6.5% 5.7% 7.3%
Free cash flow margin 4.4% 9.0% 9.0% 8.8% 5.3% 11.8% 8.7% 11.8%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2018Operating cash flow313.5Capital expenditure−166.1Free cash flow147.4Fiscal year 2019Operating cash flow348.9Capital expenditure−72.1Free cash flow276.8 +87.8%Buybacks0.0Fiscal year 2021Operating cash flow309.0Capital expenditure−58.2Free cash flow250.8 −9.4%Buybacks0.0Fiscal year 2022Operating cash flow382.4Capital expenditure−77.7Free cash flow304.7 +21.5%Buybacks−10.6Fiscal year 2022Operating cash flow265.8Capital expenditure−77.6Free cash flow188.2 −38.2%Buybacks−175.9Fiscal year 2023Operating cash flow481.0Capital expenditure−61.2Free cash flow419.8 +123.1%Buybacks−251.7Fiscal year 2024Operating cash flow379.6Capital expenditure−83.1Free cash flow296.5 −29.4%Buybacks−176.1Fiscal year 2025Operating cash flow478.1Capital expenditure−73.2Free cash flow404.9 +36.6%Buybacks−119.3
FY2018FY2019FY2021FY2022FY2022FY2023FY2024FY2025
Operating cash flow 313.5 348.9 309.0 382.4 265.8 481.0 379.6 478.1
Capital expenditure −166.1 −72.1 −58.2 −77.7 −77.6 −61.2 −83.1 −73.2
Free cash flow 147.4 276.8 250.8 304.7 188.2 419.8 296.5 404.9
Growth +87.8% −9.4% +21.5% −38.2% +123.1% −29.4% +36.6%
Buybacks n/a 0.0 0.0 −10.6 −175.9 −251.7 −176.1 −119.3

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2018Cash423.4Total debt3,005.0Net cash (debt)−2,581.6Shareholders’ equity1,947.4Debt to equity1.54Fiscal year 2019Cash635.3Total debt2,958.4Net cash (debt)−2,323.1Shareholders’ equity2,651.0Debt to equity1.12Fiscal year 2021Cash521.4Total debt2,708.7Net cash (debt)−2,187.3Shareholders’ equity2,805.7Debt to equity0.97Fiscal year 2022Cash658.2Total debt2,564.6Net cash (debt)−1,906.4Shareholders’ equity3,099.7Debt to equity0.83Fiscal year 2022Cash578.4Total debt2,463.0Net cash (debt)−1,884.6Shareholders’ equity3,110.0Debt to equity0.79Fiscal year 2023Cash720.6Total debt2,451.5Net cash (debt)−1,730.9Shareholders’ equity3,220.2Debt to equity0.76Fiscal year 2024Cash682.0Total debt2,350.6Net cash (debt)−1,668.6Shareholders’ equity3,023.6Debt to equity0.78Fiscal year 2025Cash812.1Total debt2,232.5Net cash (debt)−1,420.4Shareholders’ equity3,334.0Debt to equity0.67
FY2018FY2019FY2021FY2022FY2022FY2023FY2024FY2025
Cash 423.4 635.3 521.4 658.2 578.4 720.6 682.0 812.1
Total debt 3,005.0 2,958.4 2,708.7 2,564.6 2,463.0 2,451.5 2,350.6 2,232.5
Net cash (debt) −2,581.6 −2,323.1 −2,187.3 −1,906.4 −1,884.6 −1,730.9 −1,668.6 −1,420.4
Shareholders’ equity 1,947.4 2,651.0 2,805.7 3,099.7 3,110.0 3,220.2 3,023.6 3,334.0
Debt to equity 1.54 1.12 0.97 0.83 0.79 0.76 0.78 0.67

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Balance sheet

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2018 29 Dec 2018 FY2019 28 Dec 2019 FY2021 2 Jan 2021 FY2022 1 Jan 2022 FY2022 31 Dec 2022 FY2023 30 Dec 2023 FY2024 28 Dec 2024 FY2025 31 Dec 2025
Assets
423.4 635.3 521.4 658.2 578.4 720.6 682.0 812.1
742.3 694.7 695.0 708.1 808.6 768.2 722.7 744.2
537.6 475.1 508.2 682.6 656.2 647.2 676.0 700.0
756.3 n/a n/a n/a n/a n/a n/a n/a
2,045.9 2,060.5 2,120.2 2,063.0 1,981.1 2,038.7 1,908.9 2,035.2
6,722.6 7,411.3 7,426.3 7,533.0 7,191.6 7,254.5 6,786.3 7,151.4
Growth +10.2% +0.2% +1.4% −4.5% +0.9% −6.5% +5.4%
Liabilities
51.6 46.1 42.7 38.1 36.6 36.5 39.1 36.2
2,953.4 2,912.3 2,666.0 2,526.5 2,426.4 2,415.0 2,311.5 2,196.3
calc 3,005.0 2,958.4 2,708.7 2,564.6 2,463.0 2,451.5 2,350.6 2,232.5
4,388.9 4,400.6 4,241.3 4,051.6 3,748.0 3,710.6 3,446.0 3,462.2
Equity
381.9 1,072.0 1,151.4 1,437.9 1,482.9 1,462.3 1,479.6 1,652.7
1,947.4 2,651.0 2,805.7 3,099.7 3,110.0 3,220.2 3,023.6 3,334.0
Growth +36.1% +5.8% +10.5% +0.3% +3.5% −6.1% +10.3%
Per share and net cash
calc −2,581.6 −2,323.1 −2,187.3 −1,906.4 −1,884.6 −1,730.9 −1,668.6 −1,420.4
289.8 290.2 290.9 291.3 282.6 264.3 255.2 253.5
calc 6.72 9.14 9.65 10.64 11.01 12.19 11.85 13.15

Lines marked calc are worked out here from filed figures; point at one for how.