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Side-by-side financial comparison of DONALDSON Co INC (DCI) and PATRICK INDUSTRIES INC (PATK). Click either name above to swap in a different company.
DONALDSON Co INC is the larger business by last-quarter revenue ($935.4M vs $924.2M, roughly 1.0× PATRICK INDUSTRIES INC). DONALDSON Co INC runs the higher net margin — 12.2% vs 3.1%, a 9.0% gap on every dollar of revenue. On growth, PATRICK INDUSTRIES INC posted the faster year-over-year revenue change (9.2% vs 3.9%). PATRICK INDUSTRIES INC produced more free cash flow last quarter ($112.7M vs $111.2M). Over the past eight quarters, DONALDSON Co INC's revenue compounded faster (3.3% CAGR vs -0.5%).
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.
Anduril Industries, Inc. is an American defense technology company specializing in the development of advanced autonomous systems.
DCI vs PATK — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $935.4M | $924.2M |
| Net Profit | $113.9M | $29.1M |
| Gross Margin | 35.2% | 23.0% |
| Operating Margin | 16.0% | 6.2% |
| Net Margin | 12.2% | 3.1% |
| Revenue YoY | 3.9% | 9.2% |
| Net Profit YoY | 15.1% | 99.7% |
| EPS (diluted) | $0.97 | $0.82 |
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 | $935.4M | $924.2M | ||
| Q3 25 | $980.7M | $975.6M | ||
| Q2 25 | $940.1M | $1.0B | ||
| Q1 25 | $870.0M | $1.0B | ||
| Q4 24 | $900.1M | $846.1M | ||
| Q3 24 | $935.4M | $919.4M | ||
| Q2 24 | $927.9M | $1.0B | ||
| Q1 24 | $876.7M | $933.5M |
| Q4 25 | $113.9M | $29.1M | ||
| Q3 25 | $114.3M | $35.3M | ||
| Q2 25 | $57.8M | $32.4M | ||
| Q1 25 | $95.9M | $38.2M | ||
| Q4 24 | $99.0M | $14.6M | ||
| Q3 24 | $109.7M | $40.9M | ||
| Q2 24 | $113.5M | $47.9M | ||
| Q1 24 | $98.7M | $35.1M |
| Q4 25 | 35.2% | 23.0% | ||
| Q3 25 | 34.5% | 22.6% | ||
| Q2 25 | 34.2% | 23.9% | ||
| Q1 25 | 35.2% | 22.8% | ||
| Q4 24 | 35.5% | 22.1% | ||
| Q3 24 | 35.8% | 23.1% | ||
| Q2 24 | 35.6% | 22.8% | ||
| Q1 24 | 35.2% | 21.9% |
| Q4 25 | 16.0% | 6.2% | ||
| Q3 25 | 15.5% | 6.8% | ||
| Q2 25 | 9.3% | 8.3% | ||
| Q1 25 | 14.4% | 6.5% | ||
| Q4 24 | 14.5% | 4.7% | ||
| Q3 24 | 15.6% | 8.1% | ||
| Q2 24 | 15.5% | 8.3% | ||
| Q1 24 | 14.8% | 6.4% |
| Q4 25 | 12.2% | 3.1% | ||
| Q3 25 | 11.7% | 3.6% | ||
| Q2 25 | 6.1% | 3.1% | ||
| Q1 25 | 11.0% | 3.8% | ||
| Q4 24 | 11.0% | 1.7% | ||
| Q3 24 | 11.7% | 4.4% | ||
| Q2 24 | 12.2% | 4.7% | ||
| Q1 24 | 11.3% | 3.8% |
| Q4 25 | $0.97 | $0.82 | ||
| Q3 25 | $0.97 | $1.01 | ||
| Q2 25 | $0.48 | $0.96 | ||
| Q1 25 | $0.79 | $1.11 | ||
| Q4 24 | $0.81 | $-1.44 | ||
| Q3 24 | $0.90 | $1.80 | ||
| Q2 24 | $0.92 | $2.16 | ||
| Q1 24 | $0.81 | $1.59 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $210.7M | $26.4M |
| Total DebtLower is stronger | $671.5M | $1.3B |
| Stockholders' EquityBook value | $1.5B | $1.2B |
| Total Assets | $3.0B | $3.1B |
| Debt / EquityLower = less leverage | 0.44× | 1.10× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.7M | $26.4M | ||
| Q3 25 | $180.4M | $20.7M | ||
| Q2 25 | $178.5M | $22.0M | ||
| Q1 25 | $189.1M | $86.6M | ||
| Q4 24 | $221.2M | $33.6M | ||
| Q3 24 | $232.7M | $52.6M | ||
| Q2 24 | $223.7M | $44.0M | ||
| Q1 24 | $193.8M | $17.6M |
| Q4 25 | $671.5M | $1.3B | ||
| Q3 25 | $630.4M | — | ||
| Q2 25 | $638.8M | — | ||
| Q1 25 | $514.7M | — | ||
| Q4 24 | $538.6M | $1.3B | ||
| Q3 24 | $483.4M | — | ||
| Q2 24 | $481.8M | — | ||
| Q1 24 | $352.0M | — |
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $1.5B | $1.2B | ||
| Q2 25 | $1.5B | $1.1B | ||
| Q1 25 | $1.5B | $1.1B | ||
| Q4 24 | $1.5B | $1.1B | ||
| Q3 24 | $1.5B | $1.1B | ||
| Q2 24 | $1.5B | $1.1B | ||
| Q1 24 | $1.4B | $1.1B |
| Q4 25 | $3.0B | $3.1B | ||
| Q3 25 | $3.0B | $3.1B | ||
| Q2 25 | $3.0B | $3.1B | ||
| Q1 25 | $3.0B | $3.2B | ||
| Q4 24 | $3.0B | $3.0B | ||
| Q3 24 | $2.9B | $3.1B | ||
| Q2 24 | $2.9B | $3.0B | ||
| Q1 24 | $2.8B | $3.0B |
| Q4 25 | 0.44× | 1.10× | ||
| Q3 25 | 0.43× | — | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | 0.33× | — | ||
| Q4 24 | 0.35× | 1.18× | ||
| 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 | $125.4M | $130.8M |
| Free Cash FlowOCF − Capex | $111.2M | $112.7M |
| FCF MarginFCF / Revenue | 11.9% | 12.2% |
| Capex IntensityCapex / Revenue | 1.5% | 2.0% |
| Cash ConversionOCF / Net Profit | 1.10× | 4.50× |
| TTM Free Cash FlowTrailing 4 quarters | $403.2M | $246.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $125.4M | $130.8M | ||
| Q3 25 | $167.8M | $9.1M | ||
| Q2 25 | $87.7M | $149.4M | ||
| Q1 25 | $90.4M | $40.1M | ||
| Q4 24 | $72.9M | $102.7M | ||
| Q3 24 | $126.0M | $51.5M | ||
| Q2 24 | $141.5M | $137.5M | ||
| Q1 24 | $87.0M | $35.2M |
| Q4 25 | $111.2M | $112.7M | ||
| Q3 25 | $147.5M | $-17.2M | ||
| Q2 25 | $73.0M | $131.1M | ||
| Q1 25 | $71.5M | $19.9M | ||
| Q4 24 | $47.9M | $77.2M | ||
| Q3 24 | $106.2M | $33.7M | ||
| Q2 24 | $120.2M | $120.6M | ||
| Q1 24 | $65.7M | $19.7M |
| Q4 25 | 11.9% | 12.2% | ||
| Q3 25 | 15.0% | -1.8% | ||
| Q2 25 | 7.8% | 12.5% | ||
| Q1 25 | 8.2% | 2.0% | ||
| Q4 24 | 5.3% | 9.1% | ||
| Q3 24 | 11.4% | 3.7% | ||
| Q2 24 | 13.0% | 11.9% | ||
| Q1 24 | 7.5% | 2.1% |
| Q4 25 | 1.5% | 2.0% | ||
| Q3 25 | 2.1% | 2.7% | ||
| Q2 25 | 1.6% | 1.7% | ||
| Q1 25 | 2.2% | 2.0% | ||
| Q4 24 | 2.8% | 3.0% | ||
| Q3 24 | 2.1% | 1.9% | ||
| Q2 24 | 2.3% | 1.7% | ||
| Q1 24 | 2.4% | 1.7% |
| Q4 25 | 1.10× | 4.50× | ||
| Q3 25 | 1.47× | 0.26× | ||
| Q2 25 | 1.52× | 4.61× | ||
| Q1 25 | 0.94× | 1.05× | ||
| Q4 24 | 0.74× | 7.05× | ||
| Q3 24 | 1.15× | 1.26× | ||
| Q2 24 | 1.25× | 2.87× | ||
| Q1 24 | 0.88× | 1.00× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
PATK
| Recreational Vehicle | $276.3M | 30% |
| Distribution | $222.4M | 24% |
| Marine | $141.9M | 15% |
| Industrial | $110.8M | 12% |
| Powersports | $104.8M | 11% |
| Manufactured Housing | $67.9M | 7% |
