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Side-by-side financial comparison of ARM HOLDINGS PLC (ARM) and DONALDSON Co INC (DCI). Click either name above to swap in a different company.
ARM HOLDINGS PLC is the larger business by last-quarter revenue ($1.2B vs $935.4M, roughly 1.3× DONALDSON Co INC). ARM HOLDINGS PLC runs the higher net margin — 18.0% vs 12.2%, a 5.8% gap on every dollar of revenue. On growth, ARM HOLDINGS PLC posted the faster year-over-year revenue change (26.3% vs 3.9%). ARM HOLDINGS PLC produced more free cash flow last quarter ($186.0M vs $111.2M). Over the past eight quarters, ARM HOLDINGS PLC's revenue compounded faster (24.1% CAGR vs 3.3%).
Arm Holdings plc is a British semiconductor and software design company headquartered in Cambridge, UK. It designs the Arm CPU architecture and licenses its processor designs and related intellectual property to chipmakers and device manufacturers worldwide. Arm-based chips power the vast majority of smartphones and an increasing share of laptops, data center servers, and embedded devices. The company listed on Nasdaq in September 2023 and remains majority-owned by SoftBank.
Donaldson Company, Inc. is a filtration company engaged in the production and marketing of filtration products used in a variety of industry sectors, including commercial/industrial, aerospace, chemical, alternative energy (windmills), food & beverage, and pharmaceuticals. Also the company's research division, located in Minneapolis, Minn., participated in defense-related projects for various military applications.
ARM vs DCI — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $935.4M |
| Net Profit | $223.0M | $113.9M |
| Gross Margin | 97.6% | 35.2% |
| Operating Margin | 14.9% | 16.0% |
| Net Margin | 18.0% | 12.2% |
| Revenue YoY | 26.3% | 3.9% |
| Net Profit YoY | -11.5% | 15.1% |
| EPS (diluted) | $0.21 | $0.97 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.2B | $935.4M | ||
| Q3 25 | $1.1B | $980.7M | ||
| Q2 25 | $1.1B | $940.1M | ||
| Q1 25 | — | $870.0M | ||
| Q4 24 | $983.0M | $900.1M | ||
| Q3 24 | $844.0M | $935.4M | ||
| Q2 24 | $939.0M | $927.9M | ||
| Q1 24 | — | $876.7M |
| Q4 25 | $223.0M | $113.9M | ||
| Q3 25 | $238.0M | $114.3M | ||
| Q2 25 | $130.0M | $57.8M | ||
| Q1 25 | — | $95.9M | ||
| Q4 24 | $252.0M | $99.0M | ||
| Q3 24 | $107.0M | $109.7M | ||
| Q2 24 | $223.0M | $113.5M | ||
| Q1 24 | — | $98.7M |
| Q4 25 | 97.6% | 35.2% | ||
| Q3 25 | 97.4% | 34.5% | ||
| Q2 25 | 97.2% | 34.2% | ||
| Q1 25 | — | 35.2% | ||
| Q4 24 | 97.2% | 35.5% | ||
| Q3 24 | 96.2% | 35.8% | ||
| Q2 24 | 96.5% | 35.6% | ||
| Q1 24 | — | 35.2% |
| Q4 25 | 14.9% | 16.0% | ||
| Q3 25 | 14.4% | 15.5% | ||
| Q2 25 | 10.8% | 9.3% | ||
| Q1 25 | — | 14.4% | ||
| Q4 24 | 17.8% | 14.5% | ||
| Q3 24 | 7.6% | 15.6% | ||
| Q2 24 | 19.4% | 15.5% | ||
| Q1 24 | — | 14.8% |
| Q4 25 | 18.0% | 12.2% | ||
| Q3 25 | 21.0% | 11.7% | ||
| Q2 25 | 12.3% | 6.1% | ||
| Q1 25 | — | 11.0% | ||
| Q4 24 | 25.6% | 11.0% | ||
| Q3 24 | 12.7% | 11.7% | ||
| Q2 24 | 23.7% | 12.2% | ||
| Q1 24 | — | 11.3% |
| Q4 25 | $0.21 | $0.97 | ||
| Q3 25 | $0.22 | $0.97 | ||
| Q2 25 | $0.12 | $0.48 | ||
| Q1 25 | — | $0.79 | ||
| Q4 24 | $0.24 | $0.81 | ||
| Q3 24 | $0.10 | $0.90 | ||
| Q2 24 | $0.21 | $0.92 | ||
| Q1 24 | — | $0.81 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.5B | $210.7M |
| Total DebtLower is stronger | — | $671.5M |
| Stockholders' EquityBook value | $7.8B | $1.5B |
| Total Assets | $10.2B | $3.0B |
| Debt / EquityLower = less leverage | — | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.5B | $210.7M | ||
| Q3 25 | $3.3B | $180.4M | ||
| Q2 25 | $2.9B | $178.5M | ||
| Q1 25 | — | $189.1M | ||
| Q4 24 | $2.7B | $221.2M | ||
| Q3 24 | $2.4B | $232.7M | ||
| Q2 24 | $2.5B | $223.7M | ||
| Q1 24 | — | $193.8M |
| Q4 25 | — | $671.5M | ||
| Q3 25 | — | $630.4M | ||
| Q2 25 | — | $638.8M | ||
| Q1 25 | — | $514.7M | ||
| Q4 24 | — | $538.6M | ||
| Q3 24 | — | $483.4M | ||
| Q2 24 | — | $481.8M | ||
| Q1 24 | — | $352.0M |
| Q4 25 | $7.8B | $1.5B | ||
| Q3 25 | $7.4B | $1.5B | ||
| Q2 25 | $7.0B | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | $6.4B | $1.5B | ||
| Q3 24 | $6.0B | $1.5B | ||
| Q2 24 | $5.7B | $1.5B | ||
| Q1 24 | — | $1.4B |
| Q4 25 | $10.2B | $3.0B | ||
| Q3 25 | $9.7B | $3.0B | ||
| Q2 25 | $9.4B | $3.0B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | $8.5B | $3.0B | ||
| Q3 24 | $8.1B | $2.9B | ||
| Q2 24 | $7.9B | $2.9B | ||
| Q1 24 | — | $2.8B |
| Q4 25 | — | 0.44× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.33× | ||
| Q4 24 | — | 0.35× | ||
| Q3 24 | — | 0.32× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 0.26× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $365.0M | $125.4M |
| Free Cash FlowOCF − Capex | $186.0M | $111.2M |
| FCF MarginFCF / Revenue | 15.0% | 11.9% |
| Capex IntensityCapex / Revenue | 14.4% | 1.5% |
| Cash ConversionOCF / Net Profit | 1.64× | 1.10× |
| TTM Free Cash FlowTrailing 4 quarters | $1.2B | $403.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $365.0M | $125.4M | ||
| Q3 25 | $567.0M | $167.8M | ||
| Q2 25 | $332.0M | $87.7M | ||
| Q1 25 | — | $90.4M | ||
| Q4 24 | $423.0M | $72.9M | ||
| Q3 24 | $6.0M | $126.0M | ||
| Q2 24 | $-290.0M | $141.5M | ||
| Q1 24 | — | $87.0M |
| Q4 25 | $186.0M | $111.2M | ||
| Q3 25 | $429.0M | $147.5M | ||
| Q2 25 | $178.0M | $73.0M | ||
| Q1 25 | — | $71.5M | ||
| Q4 24 | $360.0M | $47.9M | ||
| Q3 24 | $-47.0M | $106.2M | ||
| Q2 24 | $-319.0M | $120.2M | ||
| Q1 24 | — | $65.7M |
| Q4 25 | 15.0% | 11.9% | ||
| Q3 25 | 37.8% | 15.0% | ||
| Q2 25 | 16.9% | 7.8% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | 36.6% | 5.3% | ||
| Q3 24 | -5.6% | 11.4% | ||
| Q2 24 | -34.0% | 13.0% | ||
| Q1 24 | — | 7.5% |
| Q4 25 | 14.4% | 1.5% | ||
| Q3 25 | 12.2% | 2.1% | ||
| Q2 25 | 14.6% | 1.6% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | 6.4% | 2.8% | ||
| Q3 24 | 6.3% | 2.1% | ||
| Q2 24 | 3.1% | 2.3% | ||
| Q1 24 | — | 2.4% |
| Q4 25 | 1.64× | 1.10× | ||
| Q3 25 | 2.38× | 1.47× | ||
| Q2 25 | 2.55× | 1.52× | ||
| Q1 25 | — | 0.94× | ||
| Q4 24 | 1.68× | 0.74× | ||
| Q3 24 | 0.06× | 1.15× | ||
| Q2 24 | -1.30× | 1.25× | ||
| Q1 24 | — | 0.88× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARM
| Royalty | $737.0M | 59% |
| Transferred Over Time | $294.0M | 24% |
| Transferred At Point In Time | $211.0M | 17% |
DCI
| Aftermarket Products | $447.1M | 48% |
| Industrial Filtration Solutions Products | $222.6M | 24% |
| Off Road Products | $86.5M | 9% |
| Life Sciences Segment | $80.0M | 9% |
| Other | $39.1M | 4% |
| Aerospace And Defense Products | $37.1M | 4% |
| On Road Products | $23.0M | 2% |
