# Parker-Hannifin Corp (PH) Informational only - not investment advice. CIK: 0000076334 SIC: 3490 Miscellaneous Fabricated Metal Products SIC breadcrumb: [Manufacturing](/division/D/) > [SIC Major Group 34](/major-group/34/) > [SIC 3490 Miscellaneous Fabricated Metal Products](/industry/3490/) Latest 10-K filed: 2025-08-22 SEC page: https://www.sec.gov/edgar/browse/?CIK=76334 Filing source: https://www.sec.gov/Archives/edgar/data/76334/000007633425000035/ph-20250630.htm ## At a glance FY2025 · period end 2025-06-30 · filed 2025-08-22 · accession 0000076334-25-000035 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000076334.json | Metric | Value | FY | Provenance | | --- | ---: | ---: | --- | | Revenue | 19,850,000,000 USD | 2025 | verified | | Net income | 3,532,000,000 USD | 2025 | verified | | Assets | 29,494,000,000 USD | 2025 | verified | | Free cash flow | 3,341,000,000 USD | 2025 | computed | | Net margin | 17.79% | 2025 | computed | | Operating margin | 21.90% | 2025 | computed | | Revenue YoY | -0.40% | 2025 | computed | | ROE | 25.81% | 2025 | computed | Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Operating margin = operating income ÷ revenue. Revenue YoY = FY2025 revenue ÷ FY2024 revenue − 1 (consecutive fiscal years only). ROE = net income ÷ period-end stockholders' equity. No market price, no rating, no forecast on this site. Not investment advice. ### Peer percentile fingerprint | Ratio | PH | Peer median | Percentile | N | | --- | ---: | ---: | ---: | ---: | | Net margin | 17.8% | 6.1% | 91 | 35 | | Operating margin | 21.9% | 9.3% | 97 | 32 | | Revenue growth | -0.4% | 4.5% | 26 | 36 | | FCF margin | 16.8% | 10.7% | 91 | 35 | | ROE | 25.8% | 11.6% | 97 | 35 | | ROA | 12.0% | 4.4% | 83 | 36 | | Liabilities / equity | 1.16 | 0.89 | 65 | 35 | | Current ratio | 1.19 | 2.59 | 9 | 36 | Percentile = share of the N covered peers reporting that ratio whose value is lower (ties counted half); computed among grepcent-covered companies in SIC major-group 34 SIC Major Group 34, not the whole market. A higher percentile means a higher value of the ratio, not a better company. Ratios with fewer than 8 reporting peers are omitted. Latest reported values per company; fiscal periods may differ. Descriptive arithmetic - not a score, rating, or ranking. ## Selected Fundamentals | Metric | Value | Unit | FY | Filed | | --- | ---: | --- | ---: | --- | | Revenue | 19850000000 | USD | 2025 | 2025-08-22 | | Net income | 3532000000 | USD | 2025 | 2025-08-22 | | Assets | 29494000000 | USD | 2025 | 2025-08-22 | ## Financials Annual standardized facts from SEC companyfacts as of latest extracted filing date 2025-08-22. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000076334.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts. | Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Revenue | | 12,029,312,000 | 14,302,392,000 | 14,320,324,000 | 13,695,520,000 | 14,347,640,000 | 15,861,608,000 | 19,065,000,000 | 19,930,000,000 | 19,850,000,000 | | Net income | 807,216,000 | 983,844,000 | 1,061,315,000 | 1,525,083,000 | 1,202,332,000 | 1,746,861,000 | 1,316,186,000 | 2,084,000,000 | 2,845,000,000 | 3,532,000,000 | | Operating income | 1,575,655,000 | 1,790,255,000 | 2,038,278,000 | 2,236,239,000 | 1,966,704,000 | 2,459,941,000 | 2,975,035,000 | 3,404,000,000 | 4,069,000,000 | 4,347,000,000 | | Diluted EPS | 5.89 | 7.25 | 7.83 | 11.57 | 9.26 | 13.35 | 10.09 | 16.04 | 21.84 | 27.12 | | Operating cash flow | 1,210,778,000 | 1,300,563,000 | 1,596,700,000 | 1,730,140,000 | 2,070,949,000 | 2,575,001,000 | 2,441,730,000 | 2,980,000,000 | 3,384,000,000 | 3,776,000,000 | | Capital expenditures | 149,407,000 | 203,748,000 | 247,667,000 | 195,089,000 | 232,591,000 | 209,957,000 | 230,044,000 | 381,000,000 | 400,000,000 | 435,000,000 | | Dividends paid | 341,962,000 | 345,380,000 | 365,288,000 | 412,468,000 | 453,838,000 | 475,174,000 | 569,855,000 | 704,000,000 | 782,000,000 | 861,000,000 | | Share buybacks | 587,365,000 | 338,078,000 | 381,041,000 | 860,052,000 | 216,049,000 | 218,818,000 | 460,056,000 | 297,000,000 | 332,000,000 | 1,766,000,000 | | Assets | 12,034,142,000 | 15,489,904,000 | 15,320,087,000 | 17,732,028,000 | 19,887,753,000 | 20,341,200,000 | 25,943,943,000 | 29,964,000,000 | 29,298,000,000 | 29,494,000,000 | | Liabilities | 7,455,464,000 | 10,222,558,000 | 9,454,594,000 | 11,608,538,000 | 13,645,983,000 | 11,927,530,000 | 17,084,023,000 | 19,626,193,000 | 17,217,000,000 | 15,803,000,000 | | Stockholders' equity | 4,575,255,000 | 5,261,649,000 | 5,859,866,000 | 5,961,969,000 | 6,227,224,000 | 8,398,307,000 | 8,848,011,000 | 10,326,888,000 | 12,072,000,000 | 13,682,000,000 | | Cash and cash equivalents | 1,221,653,000 | 884,886,000 | 822,137,000 | 3,219,767,000 | 685,514,000 | 733,117,000 | 535,799,000 | 475,182,000 | 422,000,000 | 467,000,000 | | Free cash flow | 1,061,371,000 | 1,096,815,000 | 1,349,033,000 | 1,535,051,000 | 1,838,358,000 | 2,365,044,000 | 2,211,686,000 | 2,599,000,000 | 2,984,000,000 | 3,341,000,000 | ### Ratios ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported. | Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Net margin | | 8.18% | 7.42% | 10.65% | 8.78% | 12.18% | 8.30% | 10.93% | 14.27% | 17.79% | | Operating margin | | 14.88% | 14.25% | 15.62% | 14.36% | 17.15% | 18.76% | 17.85% | 20.42% | 21.90% | | Return on equity | 17.64% | 18.70% | 18.11% | 25.58% | 19.31% | 20.80% | 14.88% | 20.18% | 23.57% | 25.81% | | Return on assets | 6.71% | 6.35% | 6.93% | 8.60% | 6.05% | 8.59% | 5.07% | 6.96% | 9.71% | 11.98% | | Liabilities / equity | 1.63 | 1.94 | 1.61 | 1.95 | 2.19 | 1.42 | 1.93 | 1.90 | 1.43 | 1.16 | | Current ratio | 2.20 | 1.41 | 1.59 | 2.43 | 1.60 | 1.81 | 2.06 | 0.88 | 0.93 | 1.19 | ## As-reported value updates 5 tracked differences above grepcent's stated thresholds were found between the earliest XBRL-filed value and the value currently on file for the same fiscal period. Ledger: /company/PH/revisions/ ## Quarterly Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-05-01. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000076334.json. Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived. | Quarter | End date | Revenue | Net income | Diluted EPS | Method | | --- | --- | ---: | ---: | ---: | --- | | 2023-Q1 | 2022-09-30 | | | 2.98 | reported discrete quarter | | 2023-Q2 | 2022-12-31 | | | 3.04 | reported discrete quarter | | 2023-Q3 | 2023-03-31 | | | 4.54 | reported discrete quarter | | 2023-Q4 | 2023-06-30 | 5,095,943,000 | 709,078,000 | | derived Q4 = FY annual - nine-month YTD | | 2024-Q1 | 2023-09-30 | 4,847,488,000 | 651,072,000 | 4.99 | reported discrete quarter | | 2024-Q2 | 2023-12-31 | 4,820,947,000 | 682,057,000 | 5.23 | reported discrete quarter | | 2024-Q3 | 2024-03-31 | 5,074,356,000 | 726,734,000 | 5.56 | reported discrete quarter | | 2024-Q4 | 2024-06-30 | 5,186,815,000 | 785,073,000 | | derived Q4 = FY annual - nine-month YTD | | 2025-Q1 | 2024-09-30 | 4,903,984,000 | 698,528,000 | 5.34 | reported discrete quarter | | 2025-Q2 | 2024-12-31 | 4,742,593,000 | 948,649,000 | 7.25 | reported discrete quarter | | 2025-Q3 | 2025-03-31 | 4,960,349,000 | 961,186,000 | 7.37 | reported discrete quarter | | 2025-Q4 | 2025-06-30 | 5,243,074,000 | 923,637,000 | | derived Q4 = FY annual - nine-month YTD | | 2026-Q1 | 2025-09-30 | 5,084,000,000 | 808,000,000 | 6.29 | reported discrete quarter | | 2026-Q2 | 2025-12-31 | 5,174,000,000 | 845,000,000 | 6.60 | reported discrete quarter | | 2026-Q3 | 2026-03-31 | 5,486,000,000 | 904,000,000 | 7.06 | reported discrete quarter | ## Filed narrative (10-K & 10-Q) ## Business Verbatim Item 1 Business section from PH's latest 10-K: [/company/PH/business/](/company/PH/business/). ## Risk Factors Verbatim Item 1A Risk Factors from PH's latest 10-K: [/company/PH/risk-factors/](/company/PH/risk-factors/). ## Latest quarter (10-Q) Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/76334/000007633426000073/ph-20260331.htm Low-confidence quarantine: published MD&A gate detected tail bleed at '\nCONSOLIDATED STATEMENTS OF INCOME' and could not re-bound cleanly. Confidence: low Filing date: 2026-05-01 Report date: 2026-03-31 _Quarantined: low-confidence Item 2 boundaries; no quarterly MD&A text emitted._ ## Latest 10-K MD&A (excerpt) Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/76334/000007633425000035/ph-20250630.htm Complete FY 2025 MD&A: /company/PH/mda/fy2025/ Extracted structurally from real Item 7 body heading to real Item 7A/8 boundary. Confidence: high Filing date: 2025-08-22 Report date: 2025-06-30 ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations. Forward-Looking Statements Forward-looking statements contained in this and other written and oral reports are made based on known events and circumstances at the time of release, and as such, are subject in the future to unforeseen uncertainties and risks. Often but not always, these statements may be identified from the use of forward-looking terminology such as "anticipates," "believes," "may," "should," "could," "expects," "targets," "is likely," "will," or the negative of these terms and similar expressions, and include all statements regarding future performance, orders, earnings projections, events or developments. Neither Parker nor any of its respective associates or directors, officers or advisers provides any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will actually occur. Parker cautions readers not to place undue reliance on these statements. It is possible that the future performance may differ materially from past performance or current expectations. A change in the economic conditions in individual markets may have a particularly volatile effect on segment performance. Among other factors which may affect future performance are: •changes in business relationships with and orders by or from major customers, suppliers or distributors, including delays or cancellations in shipments; •disputes regarding contract terms, changes in contract costs and revenue estimates for new development programs; •changes in product mix; •ability to identify acceptable strategic acquisition targets; •uncertainties surrounding timing, successful completion or integration of acquisitions and similar transactions, including the acquisition of Curtis Instruments, Inc.; •ability to successfully divest businesses planned for divestiture and realize the anticipated benefits of such divestitures; •the determination and ability to successfully undertake business realignment activities and the expected costs, including cost savings, thereof; •ability to implement successfully business and operating initiatives, including the timing, price and execution of share repurchases and other capital initiatives; •availability, cost increases of or other limitations on our access to raw materials, component products and/or commodities if associated costs cannot be recovered in product pricing; •ability to manage costs related to insurance and employee retirement and health care benefits; •legal and regulatory developments and other government actions, including related to environmental protection, and associated compliance costs; supply chain and labor disruptions, including as a result of tariffs and labor shortages; •threats associated with international conflicts and cybersecurity risks and risks associated with protecting our intellectual property; •uncertainties surrounding the ultimate resolution of outstanding legal proceedings, including the outcome of any appeals; •effects on market conditions, including sales and pricing, resulting from global reactions to U.S. trade policies; •manufacturing activity, air travel trends, currency exchange rates, difficulties entering new markets and economic conditions such as inflation, deflation, interest rates and credit availability; inability to obtain, or meet conditions imposed for, required governmental and regulatory approvals; •changes in the tax laws in the United States and foreign jurisdictions and judicial or regulatory interpretations thereof; and •large scale disasters, such as floods, earthquakes, hurricanes, industrial accidents and pandemics. The Company makes these statements as of the date of the filing of this Annual Report on Form 10-K for the year ended June 30, 2025 and undertakes no obligation to update them unless otherwise required by law. 18 Table of Contents Overview The Company is a global leader in motion and control technologies. Leveraging a unique combination of interconnected technologies, we design, manufacture, and provide aftermarket support for highly engineered solutions that create value for customers primarily in aerospace and defense, in-plant and industrial equipment, transportation, off-highway, energy, and HVAC and refrigeration markets around the world. By aligning around our purpose, Enabling Engineering Breakthroughs that Lead to a Better Tomorrow, Parker is better positioned for the challenges and opportunities of tomorrow. The Win Strategy 3.0 is Parker's business system which defines the goals and initiatives that create responsible, sustainable growth and enable Parker's long-term success. It works with our purpose, which is a foundational element of The Win Strategy, to engage team members and create responsible and sustainable growth. Our shared values shape our culture and our interactions with stakeholders and the communities in which we operate and live. We believe many opportunities for profitable growth are available. The Company intends to focus primarily on business opportunities in the areas of aerospace & defense, in-plant & industrial equipment, transportation, off-highway, energy, and HVAC and refrigeration. We believe we can meet our strategic objectives by: •serving the customer and continuously enhancing its experience with the Company; •successfully executing The Win Strategy initiatives relating to engaged people, premier customer experience, profitable growth and financial performance; •maintaining a decentralized division and sales company structure; •fostering a safety-first and entrepreneurial culture; •engineering innovative systems and products to provide superior customer value through improved service, efficiency and productivity; •delivering products, systems and services that have demonstrable savings to customers and are priced by the value they deliver; •enabling a sustainable future by providing innovative clean technology solutions that offer a positive, global environmental impact and operating responsibly by reducing our energy use and emissions; •acquiring strategic businesses; •organizing around targeted regions, technologies and markets; •driving efficiency by implementing lean enterprise principles; and •creating a culture of empowerment through our values, inclusion and diversity, accountability and teamwork. We manage our supply chain through our "local for local" manufacturing strategy, ongoing supplier management process, and broadened supply base. We actively monitor global trade policies and inflation, managing their impact through a variety of cost and pricing measures. In addition, continuous improvement and lean initiatives, along with disciplined workforce and discretionary spending management, further enhance our ability to mitigate these impacts. At the same time, we are appropriately addressing the ongoing needs of our business so that we continue to serve our customers. Over the long term, the extent to which our business and results of operations will be impacted by global economic and political uncertainty, geopolitical risks and public health crises depends on future developments that remain uncertain. We will continue to monitor the global environment and manage our business with the goal to minimize unfavorable impacts on operations and financial results. The discussion below is structured to separately discuss the Consolidated Statement of Income, Business Segments, and Liquidity and Capital Resources. The term "year" and references to specific years refer to the applicable fiscal year. Dollars are presented in millions, except per share amounts or as otherwise noted. The Company has changed its presentation on the Consolidated Financial Statements from thousands to millions and, as a result, any necessary rounding adjustments have been made to prior period disclosed amounts within Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations. Discussion of the 2023 financial statements is included in Part II, Item 7 of the Company's 2024 Annual Report on Form 10-K. 19 Table of Contents CONSOLIDATED STATEMENT OF INCOME The Consolidated Statement of Income summarizes the Company's operating performance. The discussion below compares the operating performance in 2025 and 2024. [[GREPCENT_TABLE]] [["(dollars in millions)","","2025","","2024"],["Net sales","","$","19,850","","","$","19,930"],["Gross profit margin","","36.9","%","","35.8","%"],["Selling, general and administrative expenses","","$","3,255","","","$","3,315"],["Selling, general and administrative expenses, as a percent of sales","","16.4","%","","16.6","%"],["Interest expense","","$","409","","","$","506"],["Other (income) expense, net","","(183)","","","(276)"],["Gain on sale of businesses and assets, net","","$","(273)","","","$","(12)"],["Effective tax rate","","14.0","%","","20.9","%"],["Net income attributable to common shareholders","","$","3,531","","","$","2,844"]] [[/GREPCENT_TABLE]] Net sales in 2025 decreased from the 2024 amount due to lower sales in the Diversified Industrial Segment, partially offset by higher sales in the Aerospace Systems Segment resulting from strength across commercial and defense markets. Within the Diversified Industrial Segment, the impact of divestiture activity decreased sales by approximately $295 million in 2025. The effect of currency exchange rates decreased net sales in 2025 by approximately $41 million, which is primarily attributable to the Diversified Industrial Segment. Gross profit margin (calculated as net sales less cost of sales, divided by net sales) increased in 2025 primarily due to higher margins in both segments resulting from price increases, favorable product mix, cost containment and continued execution of the Win Strategy. Cost of sales also included business realignment and acquisition integration charges of $31 million and $34 million in 2025 and 2024, respectively. Selling, general and administrative expenses decreased in 2025 compared to 2024 primarily due to benefits from prior-year restructuring and acquisition-integration activities, lower research and development expenses and cost containment initiatives. Selling, general and administrative expenses also included business realignment and acquisition integration charges of $45 million and $55 million in 2025 and 2024, respectively. Interest expense in 2025 decreased compared to 2024 primarily due to lower average debt outstanding. Other (income) expense, net included the following: [Excerpt truncated for page length; the complete text is on the linked full-MD&A page.] Read the full FY 2025 MD&A: /company/PH/mda/fy2025/ All MD&A years: /company/PH/mda/ ## MD&A history Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page. - [FY 2024 MD&A](/company/PH/mda/fy2024/): filed 2024-08-22; accession 0000076334-24-000044 (https://www.sec.gov/Archives/edgar/data/76334/000007633424000044/ph-20240630.htm) - [FY 2023 MD&A](/company/PH/mda/fy2023/): filed 2023-08-24; accession 0000076334-23-000042 (https://www.sec.gov/Archives/edgar/data/76334/000007633423000042/ph-20230630.htm) - [FY 2022 MD&A](/company/PH/mda/fy2022/): filed 2022-08-24; accession 0000076334-22-000034 (https://www.sec.gov/Archives/edgar/data/76334/000007633422000034/ph-20220630.htm) - [FY 2021 MD&A](/company/PH/mda/fy2021/): filed 2021-08-25; accession 0000076334-21-000187 (https://www.sec.gov/Archives/edgar/data/76334/000007633421000187/ph-20210630.htm) ## Macro cross-references Indicators mapped to this company's SIC classification (industry 3490 Miscellaneous Fabricated Metal Products) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim. - [INDPRO](/indicator/INDPRO/): Industrial Production: Total Index - [TCU](/indicator/TCU/): Capacity Utilization: Total Index - [PPIACO](/indicator/PPIACO/): Producer Price Index by Commodity: All Commodities - [GDPC1](/indicator/GDPC1/): Real Gross Domestic Product - [DGS10](/indicator/DGS10/): Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity - [FEDFUNDS](/indicator/FEDFUNDS/): Federal Funds Effective Rate - [CES0500000003](/indicator/CES0500000003/): Average Hourly Earnings of All Employees, Total Private - [PAYEMS](/indicator/PAYEMS/): All Employees, Total Nonfarm Macro-to-micro threads including this sector: [Inflation (CPI / PCE / PPI)](/thread/inflation-cpi-pce-ppi/), [US labor market](/thread/us-labor-market/), [Growth & output](/thread/growth-output/), [Money & trade](/thread/money-trade/), [Government finances](/thread/government-finances/), [Sector employment](/thread/sector-employment/), [Industrial orders & inventories](/thread/industrial-orders/), [Trade & external](/thread/trade-external/). All macro indicators: /indicators/ ## For LLMs & downloads Markdown twin: /company/PH.md · JSON record: /company/PH.json · verified financials: /company/PH/financials.json / /company/PH/financials.csv · machine TOC for the whole site: /llms.txt