Gates Industrial Corp Plc (GTES) financial statements: income statement, balance sheet and cash flow

Gates Industrial Corp Plc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Gates Industrial Corp Plc reported revenue of $3.4B (+1.0% year on year) and net income of $277.1M (+25.7% year on year).

Income statement

Gates Industrial Corp Plc income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 28, 2024 · FY	Dec 30, 2023 · FY	Dec 31, 2022 · FY
Net sales	$3.4B	$3.4B	$3.6B	$3.6B
Cost of sales	$2.1B	$2.0B	$2.2B	$2.3B
Gross profit	$1.4B	$1.4B	$1.4B	$1.3B
Selling, general and administrative expenses	$876.1M	$870.0M	$882.2M	$853.7M
Transaction-related expenses	$500.0K	$3.3M	$2.2M	$2.1M
Asset impairments	$3.5M	$0	$100.0K	$1.1M
Restructuring expenses	$26.3M	$6.5M	$11.6M	$9.5M
Other operating expenses	$0	$0	$200.0K	$200.0K
Operating income from continuing operations	$465.3M	$478.7M	$462.6M	$384.0M
Interest expense	$125.9M	$155.8M	$163.2M	$139.4M
Loss on deconsolidation of Russian Subsidiary	$0	$12.7M	—	—
Other (income) expenses	($800.0K)	($17.8M)	$14.1M	($13.2M)
Income from continuing operations before taxes	$340.2M	$328.0M	$285.3M	$257.8M
Income tax expense	$63.1M	$107.5M	$28.3M	$14.9M
Net income from continuing operations	$277.1M	$220.5M	$257.0M	$242.9M
Loss on disposal of discontinued operations, net of tax, respectively, of $0, $0 and $0	$800.0K	$600.0K	$600.0K	$400.0K
Net income	$276.3M	$219.9M	$256.4M	$242.5M
Less: non-controlling interests	$24.9M	$25.0M	$23.5M	$21.7M
Net income attributable to shareholders	$251.4M	$194.9M	$232.9M	$220.8M
Earnings per share from continuing operations (in usd per share)	$0.98	$0.75	$0.86	$0.78
Earnings per share (in usd per share)	$0.98	$0.75	$0.86	$0.78
Earnings per share from continuing operations (in usd per share)	$0.96	$0.74	$0.84	$0.77
Earnings per share from discontinued operations (in usd per share)	$0.00	$0.00	$0.00	$0.00
Earnings per share (in usd per share)	$0.96	$0.74	$0.84	$0.77

Gates Industrial Corp Plc income statement, quarters

Line item	Jun 27, 2026 · Q2	Mar 28, 2026 · Q1	Sep 27, 2025 · Q3	Jun 28, 2025 · Q2
Net sales	$941.6M	$851.1M	$855.7M	$883.7M
Cost of sales	$555.5M	$513.1M	$514.1M	$523.5M
Gross profit	$386.1M	$338.0M	$341.6M	$360.2M
Selling, general and administrative expenses	$250.7M	$226.9M	$219.2M	$231.2M
Transaction-related expenses	$3.1M	$500.0K	$100.0K	$0
Asset impairments	$0	$0	$400.0K	$200.0K
Restructuring expenses	$700.0K	$700.0K	$6.5M	$13.0M
Operating income from continuing operations	$131.6M	$109.9M	$115.4M	$115.8M
Interest expense	$30.0M	$29.9M	$34.9M	$28.8M
Other expense	$1.4M	$2.1M	($14.3M)	$6.8M
Income from continuing operations before taxes	$100.2M	$77.9M	$94.8M	$80.2M
Income tax (benefit) expense	($78.0M)	$11.5M	$6.1M	$16.8M
Net income from continuing operations	$178.2M	$66.4M	$88.7M	$63.4M
Loss on disposal of discontinued operations, net of tax, respectively, of $0, $0, $0 and $0	$200.0K	$200.0K	$100.0K	$300.0K
Net income	$178.0M	$66.2M	$88.6M	$63.1M
Less: non-controlling interests	$7.1M	$6.5M	$7.0M	$6.6M
Net income attributable to shareholders	$170.9M	$59.7M	$81.6M	$56.5M
Earnings per share from continuing operations (in usd per share)	$0.67	$0.24	$0.32	$0.22
Earnings per share from discontinued operations (in usd per share)	$0.00	$0.00	$0.00	$0.00
Earnings per share (in usd per share)	$0.67	$0.24	$0.32	$0.22

Balance sheet

Gates Industrial Corp Plc balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 28, 2024 · FY	Dec 30, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$812.1M	$682.0M	$720.6M	$578.4M
Trade accounts receivable, net	$744.2M	$722.7M	$768.2M	$808.6M
Inventories	$700.0M	$676.0M	$647.2M	$656.2M
Taxes receivable	$43.4M	$28.6M	$30.4M	$13.0M
Prepaid expenses and other assets	$181.8M	$196.7M	$234.9M	$221.2M
Total current assets	$2.5B	$2.3B	$2.4B	$2.3B
Property, plant and equipment, net	$609.0M	$579.5M	$630.0M	$637.5M
Goodwill	$2.0B	$1.9B	$2.0B	$2.0B
Pension surplus	$7.6M	$5.7M	$8.6M	$10.1M
Intangible assets, net	$1.2B	$1.2B	$1.4B	$1.5B
Right-of-use assets	$137.1M	$139.4M	$120.1M	$132.2M
Taxes receivable	$5.4M	$20.7M	$18.5M	$15.1M
Deferred income taxes	$640.0M	$553.5M	$622.4M	$600.3M
Other non-current assets	$43.2M	$24.0M	$28.8M	$47.5M
Total assets	$7.2B	$6.8B	$7.3B	$7.2B
Debt, current portion	$36.2M	$39.1M	$36.5M	$36.6M
Trade accounts payable	$433.7M	$408.2M	$457.7M	$469.6M
Taxes payable	$27.0M	$22.9M	$36.6M	$23.5M
Accrued expenses and other current liabilities	$238.5M	$251.3M	$248.5M	$222.6M
Total current liabilities	$735.4M	$721.5M	$779.3M	$752.3M
Debt, less current portion	$2.2B	$2.3B	$2.4B	$2.4B
Postretirement benefit obligations	$68.8M	$78.0M	$83.8M	$76.2M
Lease liabilities	$124.5M	$127.3M	$110.6M	$121.9M
Taxes payable	$62.1M	$82.2M	$79.4M	$79.5M
Deferred income taxes	$49.3M	$56.8M	$119.4M	$192.0M
Other non-current liabilities	$225.8M	$68.7M	$123.1M	$99.7M
Total liabilities	$3.5B	$3.4B	$3.7B	$3.7B
—Shares, par value of $0.01 each - authorized shares: 3,000,000,000; outstanding shares: 253,543,540 (December 28, 2024: authorized shares: 3,000,000,000; outstanding shares: 255,203,987)	2.6M	2.6M	2.6M	2.8M
—Additional paid-in capital	$2.6B	$2.6B	$2.6B	$2.5B
—Accumulated other comprehensive loss	($917.1M)	($1.1B)	($828.5M)	($917.8M)
—Treasury shares	37.5M	—	—	—
—Retained earnings	$1.7B	$1.5B	$1.5B	$1.5B
Total shareholders’ equity	$3.3B	$3.0B	$3.2B	$3.1B
Non-controlling interests	$355.2M	$316.7M	$323.7M	$333.6M
Total equity	$3.7B	$3.3B	$3.5B	$3.4B
Total liabilities and equity	$7.2B	$6.8B	$7.3B	$7.2B

Gates Industrial Corp Plc balance sheet, quarters

Line item	Jun 27, 2026	Mar 28, 2026	Sep 27, 2025	Jun 28, 2025
Cash and cash equivalents	$823.5M	$785.3M	$689.4M	$719.7M
Trade accounts receivable, net	$900.3M	$799.6M	$833.3M	$826.3M
Inventories	$740.6M	$685.7M	$718.1M	$729.0M
Taxes receivable	$40.5M	$37.9M	$46.4M	$39.5M
Prepaid expenses and other assets	$204.4M	$180.9M	$197.8M	$207.0M
Total current assets	$2.7B	$2.5B	$2.5B	$2.5B
Property, plant and equipment, net	$599.4M	$599.5M	$609.3M	$609.2M
Goodwill	$2.0B	$2.0B	$2.0B	$2.0B
Pension surplus	$6.7M	$7.6M	$5.6M	$5.7M
Intangible assets, net	$1.1B	$1.2B	$1.2B	$1.2B
Right-of-use assets	$146.2M	$152.0M	$142.0M	$142.4M
Taxes receivable	$2.6M	$1.1M	$16.5M	$20.2M
Deferred income taxes	$729.4M	$636.3M	$627.1M	$628.6M
Other non-current assets	$53.9M	$49.8M	$37.4M	$35.2M
Total assets	$7.4B	$7.1B	$7.1B	$7.2B
Debt, current portion	$39.2M	$30.9M	$30.5M	$39.8M
Trade accounts payable	$482.4M	$396.9M	$385.3M	$411.3M
Taxes payable	$31.2M	$18.6M	$26.5M	$27.3M
Accrued expenses and other current liabilities	$282.3M	$232.1M	$263.1M	$250.9M
Total current liabilities	$835.1M	$678.5M	$705.4M	$729.3M
Debt, less current portion	$2.2B	$2.2B	$2.2B	$2.3B
Post-retirement benefit obligations	$60.9M	$63.1M	$68.0M	$76.7M
Lease liabilities	$129.3M	$135.5M	$126.3M	$128.5M
Taxes payable	$56.3M	$63.2M	$60.0M	$84.7M
Deferred income taxes	$40.5M	$43.8M	$58.1M	$52.1M
Other non-current liabilities	$182.2M	$205.5M	$212.5M	$229.9M
Total liabilities	$3.5B	$3.4B	$3.4B	$3.6B
—Shares, par value of $0.01 each - authorized shares: 3,000,000,000; outstanding shares: 253,151,170 (December 31, 2025: authorized shares: 3,000,000,000; outstanding shares: 253,543,540)	2.5M	2.5M	2.6M	2.6M
—Additional paid-in capital	$2.6B	$2.6B	$2.6B	$2.6B
—Accumulated other comprehensive loss	($929.2M)	($925.4M)	($928.3M)	($940.0M)
—Treasury shares	0	-16.5M	—	—
—Retained earnings	$1.8B	$1.7B	$1.7B	$1.6B
Total shareholders’ equity	$3.5B	$3.4B	$3.4B	$3.3B
Non-controlling interests	$372.3M	$360.9M	$345.1M	$342.7M
Total equity	$3.9B	$3.7B	$3.7B	$3.6B
Total liabilities and equity	$7.4B	$7.1B	$7.1B	$7.2B

Cash flow statement

Gates Industrial Corp Plc cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 28, 2024 · FY	Dec 30, 2023 · FY	Dec 31, 2022 · FY
Net income	$276.3M	$219.9M	$256.4M	$242.5M
Depreciation and amortization	$213.8M	$216.9M	$217.5M	$217.2M
Foreign exchange and other non-cash financing (income) expense	($25.2M)	($44.2M)	($24.8M)	$5.8M
Share-based compensation expense	$27.2M	$28.8M	$27.4M	$44.3M
Decrease in postretirement benefit obligations, net	($17.4M)	($9.0M)	($9.9M)	($16.0M)
Deferred income taxes	($26.0M)	($12.1M)	($65.7M)	($79.7M)
Asset impairments	$3.5M	$0	$100.0K	$2.6M
Loss on deconsolidation of Russian subsidiary	$0	$12.7M	—	—
Disposal of property, plant and equipment	$300.0K	($7.3M)	—	—
Other operating activities	$4.3M	($100.0K)	$5.3M	$6.6M
—Accounts receivable	$18.4M	$8.4M	$45.6M	($129.3M)
—Inventories	$14.3M	($64.0M)	$24.5M	$2.9M
—Accounts payable	$4.3M	($27.6M)	($17.8M)	($15.9M)
—Prepaid expenses and other assets	$29.7M	$37.3M	$22.3M	$50.3M
—Taxes payable	($18.6M)	($900.0K)	($14.5M)	($24.4M)
—Other liabilities	($26.8M)	$20.8M	$14.6M	($41.1M)
Net cash provided by operating activities	$478.1M	$379.6M	$481.0M	$265.8M
Purchases of property, plant and equipment	($73.2M)	($83.1M)	($61.2M)	($77.6M)
Purchases of intangible assets	($40.7M)	($23.6M)	($10.2M)	($9.4M)
Purchases of investments	$0	($11.3M)	—	—
Proceeds from sale of investments	$0	$5.0M	—	—
Cash paid under company-owned life insurance policies	($11.5M)	($5.4M)	($18.2M)	($11.6M)
Cash received under company-owned life insurance policies	$4.9M	$14.5M	$6.6M	$6.0M
Proceeds from the sale of property, plant and equipment	$2.3M	$12.0M	$1.2M	—
Cash deconsolidated from previously controlled subsidiary	$0	($12.5M)	—	—
Other investing activities	($800.0K)	$0	$0	$1.9M
Net cash used in investing activities	($119.0M)	($104.4M)	($81.8M)	($90.7M)
Issuance of shares	10.4M	14.9M	18.7M	15.9M
Repurchase of shares	-119.3M	-176.1M	-251.7M	-175.9M
Proceeds from long-term debt	$0	$1.8B	$100.0M	$645.0M
Payments of long-term debt	($123.4M)	($1.9B)	($119.6M)	($676.9M)
Debt issuance costs paid	$0	($21.6M)	($1.3M)	($23.3M)
Employee taxes paid from shares withheld	-21.0M	—	—	—
Dividends paid to non-controlling interests	($6.5M)	($13.0M)	($18.2M)	($28.7M)
Other financing activities	$8.7M	$17.5M	$13.8M	($9.2M)
Net cash used in financing activities	($251.1M)	($286.7M)	($258.3M)	($253.1M)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	$22.2M	($27.7M)	$1.7M	($1.5M)
Net increase (decrease) in cash and cash equivalents and restricted cash	$130.2M	($39.2M)	$142.6M	($79.5M)
Cash and cash equivalents and restricted cash at the beginning of the period	$684.8M	$724.0M	$581.4M	$660.9M
Cash and cash equivalents and restricted cash at the end of the period	$815.0M	$684.8M	$724.0M	$581.4M
Interest paid	$120.7M	$132.6M	$155.1M	$118.7M
Income taxes paid	$111.5M	$122.3M	$110.5M	$117.8M
Accrued capital expenditures	$3.0M	$1.2M	$600.0K	$1.9M

Gates Industrial Corp Plc cash flow statement, quarters

Line item	Jun 27, 2026 · YTD	Mar 28, 2026 · Q1	Sep 27, 2025 · YTD	Jun 28, 2025 · YTD
Net income	$244.2M	$66.2M	$220.0M	$131.4M
Depreciation and amortization	$112.8M	$55.7M	$159.1M	$105.5M
Foreign exchange and other non-cash financing income	($13.0M)	($8.9M)	($20.3M)	($12.6M)
Share-based compensation expense	$15.7M	$6.3M	$22.4M	$15.7M
Decrease in post-employment benefit obligations, net	($1.7M)	($200.0K)	($13.1M)	($4.4M)
Deferred income taxes	($113.8M)	($9.3M)	($6.3M)	($11.0M)
Asset impairments	$0	$0	$1.2M	$800.0K
Other operating activities	$2.8M	$800.0K	$4.7M	$5.8M
—Accounts receivable	($161.6M)	($59.2M)	($71.4M)	($63.5M)
—Inventories	($46.3M)	$9.3M	($6.7M)	($16.4M)
—Accounts payable	$50.9M	($34.1M)	($40.9M)	($16.7M)
—Prepaid expenses and other assets	($11.4M)	$8.3M	$900.0K	($13.0M)
—Taxes payable	$4.5M	$7.2M	($30.7M)	($1.6M)
—Other liabilities	$25.7M	($11.9M)	($10.8M)	($9.7M)
Net cash provided by operating activities	$108.8M	$30.2M	$208.3M	$110.3M
Purchases of property, plant and equipment	($35.0M)	($16.7M)	($54.4M)	($36.9M)
Purchases of intangible assets	($5.2M)	($4.8M)	($26.0M)	($18.7M)
Cash paid under company-owned life insurance policies	($10.8M)	($10.6M)	($10.4M)	($10.4M)
Cash received under company-owned life insurance policies	$8.1M	$3.7M	$2.4M	$2.4M
Proceeds from the sale of property, plant and equipment	$1.5M	$1.3M	$2.2M	$2.1M
Other investing activities	($400.0K)	($100.0K)	($700.0K)	($500.0K)
Net cash used in investing activities	($41.8M)	($27.2M)	($86.9M)	($62.0M)
Issuance of shares	2.5M	500.0K	9.8M	4.7M
Repurchase of shares	-38.7M	-16.6M	-13.0M	-13.0M
Payments of long-term debt	($4.7M)	$0	($114.1M)	($9.4M)
Employee taxes paid from shares withheld	-8.7M	-8.6M	-20.1M	-16.9M
Dividends paid to non-controlling interests	$0	$0	($6.5M)	($3.5M)
Other financing activities	($1.2M)	($400.0K)	$9.0M	$4.7M
Net cash used in financing activities	($50.8M)	($25.1M)	($134.9M)	($33.4M)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	($4.7M)	($4.7M)	$21.0M	$23.1M
Net increase in cash and cash equivalents and restricted cash	$11.5M	($26.8M)	$7.5M	$38.0M
Cash and cash equivalents and restricted cash at the beginning of the period	$815.0M	$815.0M	$684.8M	$684.8M
Cash and cash equivalents and restricted cash at the end of the period	$826.5M	$788.2M	$692.3M	$722.8M
Interest paid	$52.0M	$32.0M	$95.9M	$56.8M
Income taxes paid	$39.3M	$13.7M	$84.4M	$54.7M
Accrued capital expenditures	$1.8M	$2.6M	$2.2M	$900.0K

Gates Industrial Corp Plc score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.