# Emerson Electric Co. (EMR) — Financial Analysis

**Exchange:** NYSE  
**Coverage as of:** 2026-Q2  
**Updated:** 2026-05-12  
**Tier:** Free primer (step 2 of 19)  
**Sibling pages:** /stocks/EMR/thesis · /stocks/EMR/memo

## Financial Snapshot

---
ticker: EMR
step: 04
generated: 2026-05-12
source: quick-research
---

### Emerson Electric (EMR) — Financial Snapshot

#### Income Statement Summary

| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026E |
|--------|--------|--------|--------|--------|---------|
| Revenue | $19.6B | $15.2B | $17.5B | $18.0B | $18.7-19.0B |
| Underlying Sales Growth | +9% | +9% | +6% | +5% | +5-6% |
| Gross Margin | 41.5% | 49.4% | 50.8% | 51.5% | 52.0% |
| Adj Segment EBITDA Margin | 23.0% | 25.0% | 26.0% | 26.8% | 27.5% |
| Adj EPS | $5.16 | $4.44 | $5.49 | $5.95 | $6.20-6.40 |
| Backlog | – | – | $7.0B | $7.9B | $8.5B+ |

Note: FY2023 figures reflect Climate Technologies divestiture mid-year. FY24 record gross margin 50.8%. Q1 FY26: orders +9% YoY (4 consecutive quarters acceleration); book-to-bill 1.13.

#### Cash Flow & Balance Sheet (FY2024)

| Metric | Value |
|--------|-------|
| Operating Cash Flow | ~$3.3B |
| Free Cash Flow | ~$3.0B |
| FCF Conversion | ~95% |
| Cash & Equivalents | ~$1.8B |
| Total Debt | ~$8.5B (after AspenTech debt) |
| Net Debt/EBITDA | ~1.5x |

#### Key Ratios (approximate)
- P/E: ~22x | EV/EBITDA: ~17x | FCF Yield: ~3.7%
- Revenue Growth (TTM): ~3% | Op Margin: ~22%
- Dividend Yield: ~1.8% | Dividend: $2.10/share
- 68-year consecutive dividend growth (Dividend King)

#### Growth Profile
Long-term model: 4-7% organic revenue growth + 100bps annual margin expansion + 8-10% adj EPS growth. AspenTech $200M synergies by 2027. Software mix shift toward 25%+ of revenue. Backlog growing 9% YoY = 18-24 months visibility. Margin expansion from software + automation mix.

#### Forward Estimates
- **FY 2026 (ending Sep 2026)**: Revenue $18.7-19.0B; adj EPS $6.20-6.40; +5-6% underlying
- **FY 2027**: Revenue ~$20B; adj EPS $6.80-7.20 (AspenTech synergies + LNG cycle)
- LNG capex super-cycle + AI data center power capex + life sciences = multi-year tailwinds

## Deeper Financial Analysis

The fundamental tier ($1.00) adds 8 dimensions not included here:

- Revenue Breakdown — segment revenue, geographic mix, product-line margins
- Financial Trends — QoQ momentum, leading indicators, inflection points
- Balance Sheet — debt structure, dilution risk, working capital dynamics
- Capital Allocation — ROIC, buyback cadence, reinvestment efficiency
- Earnings Analysis — beats/misses, guidance vs actuals, transcript highlights
- Competitive Positioning — market share, pricing power, peer benchmarks
- Industry Context — TAM, sector tailwinds/headwinds, regulatory backdrop

**API endpoint:** GET /api/v1/research/EMR/fundamental

## Navigation

- Overview: /stocks/EMR
- Financials (this page): /stocks/EMR/financials
- Thesis: /stocks/EMR/thesis
- Investment Memo: /stocks/EMR/memo
- Coverage universe: /stocks