NYSE · Financial Statements

Gates Industrial Corporation Ltd. (GTES) Financial Statements

$25.08 NYSE: GTES Market Cap $6.35B

Gates Industrial Corporation Ltd. most recently reported annual revenue of $3.4B, net profit of $251.0M. Revenue grew at an average annual rate of 4.3% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Gates Industrial Corporation Ltd.: Revenue rose from $2.7B in 2016 to $3.4B in 2025, a change of +25.3% over 9 years; net profit was positive in all 10 reported years; operating margin moved from 11.1% to 15.3%, a shift of +4.2 percentage points; the most recent year shows net profit of $251.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$2.7B$3.0B$3.3B$3.1B$2.8B$3.5B$3.6B$3.6B$3.4B$3.4B
Operating Expenses$2.4B$2.6B$2.9B$2.7B$2.6B$3.0B$3.2B$3.1B$2.9B$2.9B
Operating Profit$305.0M$403.0M$497.0M$347.0M$211.0M$484.0M$384.0M$463.0M$479.0M$528.0M
Operating Margin11.1%13.3%14.8%11.2%7.6%13.9%10.8%13.0%14.1%15.3%
Other Income$-212.0M$-293.0M$-193.0M$-148.0M$-140.0M$-134.0M$-126.0M$-177.0M$-151.0M$-188.0M
Interest$216.0M$235.0M$200.0M$166.0M$158.0M$135.0M$145.0M$174.0M$170.0M$149.0M
Depreciation$241.0M$212.0M$219.0M$222.0M$219.0M$223.0M$217.0M$218.0M$217.0M$214.0M
Profit Before Tax$93.0M$110.0M$304.0M$199.0M$71.0M$350.0M$258.0M$285.0M$328.0M$340.0M
Tax$22.7M$-66.2M$10.5M$-249.4M$-27.2M$5.3M$5.8M$9.9M$32.8M$18.6M
Net Profit$58.0M$151.0M$245.0M$690.0M$79.0M$297.0M$221.0M$233.0M$195.0M$251.0M
EPS$0.20$0.53$0.84$2.37$0.27$1.00$0.77$0.85$0.74$0.96
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$873.0M$863.0M$863.0M$886.0M$831.0M$829.0M$848.0M$884.0M$856.0M$856.0M$851.0M$942.0M
Operating Expenses$747.0M$743.0M$746.0M$752.0M$718.0M$717.0M$723.0M$768.0M$740.0M$719.0M$736.0M$793.0M
Operating Profit$126.0M$120.0M$117.0M$133.0M$113.0M$113.0M$125.0M$116.0M$115.0M$137.0M$115.0M$148.0M
Operating Margin14.4%13.9%13.5%15.1%13.6%13.6%14.7%13.1%13.5%16.0%13.5%15.8%
Interest$39.0M$45.0M$41.0M$50.0M$41.0M$39.0M$34.0M$35.0M$41.0M$39.0M$35.0M$36.0M
Profit Before Tax$87.0M$72.0M$81.0M$90.0M$69.0M$88.0M$94.0M$80.0M$95.0M$71.0M$78.0M$100.0M
Tax$1.1M$3.4M$42.8M$13.6M$20.2M$53.1M$26.9M$20.9M$6.4M$21.0M$14.8M$-77.8M
Net Profit$79.0M$63.0M$40.0M$71.0M$48.0M$37.0M$62.0M$57.0M$82.0M$51.0M$60.0M$171.0M
EPS$0.29$0.24$0.15$0.27$0.18$0.14$0.24$0.22$0.32$0.20$0.23$0.67

Over the 10 years reported for Gates Industrial Corporation Ltd., borrowings decreased from $3.8B in 2016 to $2.5B in 2025, cash stood at $812.0M in the latest year, shareholders' equity was $3.0M, current assets covered current liabilities 3.38 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$6.4B$6.9B$6.7B$7.4B$7.4B$7.5B$7.2B$7.3B$6.8B$7.2B
Current Assets$1.6B$1.8B$1.8B$2.0B$1.9B$2.3B$2.3B$2.4B$2.3B$2.5B
Cash$527.0M$564.0M$423.0M$635.0M$524.0M$661.0M$581.0M$721.0M$682.0M$812.0M
Inventory$367.0M$457.0M$538.0M$475.0M$508.0M$683.0M$656.0M$647.0M$676.0M$700.0M
Receivables$659.0M$714.0M$750.0M$717.0M$724.0M$727.0M$822.0M$799.0M$751.0M$788.0M
Fixed Assets$600.0M$686.0M$756.0M$851.0M$826.0M$795.0M$770.0M$750.0M$719.0M$746.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$7.0M$1.0M$-439.0M$0$0$8.0M$33.0M$54.0M$2.0M$21.0M
Other Assets$1.9B$2.1B$2.0B$2.1B$2.1B$2.1B$2.0B$2.0B$1.9B$2.0B
Total Liabilities$5.3B$5.4B$4.4B$4.4B$4.2B$4.1B$3.7B$3.7B$3.4B$3.5B
Current Liabilities$580.0M$698.0M$679.0M$658.0M$726.0M$856.0M$752.0M$779.0M$722.0M$735.0M
Borrowings$3.8B$4.0B$3.0B$3.1B$2.8B$2.7B$2.6B$2.6B$2.5B$2.5B
Other Liabilities$1.5B$1.5B$1.4B$1.3B$1.4B$1.3B$1.1B$1.1B$968.0M$952.0M
Equity$3.0M$1.6B$3.0M$3.0M$3.0M$3.0M$3.0M$3.0M$3.0M$3.0M
Reserves$691.0M$1.0B$1.9B$2.7B$2.8B$3.1B$3.1B$3.2B$3.0B$3.3B

For Gates Industrial Corporation Ltd., operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $405.0M; free cash flow was positive in 10 of 10 years; financing activities used $138.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$372.0M$314.0M$314.0M$349.0M$309.0M$382.0M$266.0M$481.0M$380.0M$478.0M
Investing Cash Flow$-128.0M$-332.0M$-426.0M$-161.0M$-145.0M$-173.0M$-178.0M$-153.0M$-187.0M$-192.0M
Financing Cash Flow$-45.0M$-44.0M$-65.0M$-36.0M$-26.0M$-62.0M$-237.0M$-257.0M$-193.0M$-138.0M
Net Cash Flow$192.0M$37.0M$-141.0M$212.0M$-112.0M$137.0M$-79.0M$143.0M$-39.0M$130.0M
Free Cash Flow$304.0M$202.0M$131.0M$266.0M$242.0M$295.0M$179.0M$410.0M$297.0M$405.0M

Valuation & Return Ratios

MetricValue
PEG Ratio0.23
EV / EBITDA11.82
FCF Yield5.67%
Quick Ratio2.36
Interest Coverage3.41
Return 1Y-0.04%
Return 3Y121.99%
Return 5Y54.19%

Gates Industrial Corporation Ltd. (GTES) financials — frequently asked questions

What is Gates Industrial Corporation Ltd.'s annual revenue?

Gates Industrial Corporation Ltd. (GTES) reported annual revenue of $3.4B in its most recent fiscal year.

What is Gates Industrial Corporation Ltd.'s net profit?

Gates Industrial Corporation Ltd. (GTES) reported net profit of $251.0M in its most recent fiscal year.

What is GTES EV/EBITDA?

Gates Industrial Corporation Ltd.'s enterprise value to EBITDA (EV/EBITDA) ratio is 11.82.

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