Gates Industrial Corp Ltd. (GTES)

Gates Industrial Corporation Ltd. manufactures and sells engineered power transmission and fluid power solutions in the United States, rest of North America, South America, the United Kingdom, Luxembourg, rest of Europe, the Middle East, Africa, India, East Asia, and Greater China. It operates through two segments, Power Transmission and Fluid Power. It offers solutions for stationary and mobile drives, engine systems, personal mobility application platforms; elastomer drive belts; asynchronous and synchronous belts, V-belts, transmission belts, and micro-V belts; metal drive components, such as tensioners, idlers, pulleys, sprockets, mechanical water pumps, and other accessories used in belt drive systems; and kits for the automotive replacement channel. It also provides fluid power solutions for stationary and mobile hydraulics, vehicle systems, and other industrial application platforms; hydraulics comprising hoses, tubing, couplings, and fittings, as well as assemblies; thermal and emissions management and related products; and industrial hoses, including data center pumps. Its products are used in diversified industrial applications comprising automated manufacturing, logistics systems, and data centers; consumer applications of printers, power washers, automatic doors, and vacuum cleaners; industrial off-highway, such as construction and agriculture; industrial on-highway commercial vehicles, including heavy-duty trucks and buses; energy and resources markets, such as oil, gas, and mining; and personal mobility, including scooters, motorcycles, bicycles, all-terrain vehicles, and snowmobiles. It sells its products under the Gates brand. It offers its products to aftermarket channel customers and original equipment manufacturers. Gates Industrial Corporation Ltd. was formerly known as Gates Industrial Corporation plc and changed its name to Gates Industrial Corporation Ltd. in July 2026. The company was founded in 1911 and is based in Denver, Colorado.

Ticker
GTES
Exchange
NYSE
Sector
Industrials
Industry
Specialty Industrial Machinery
Market cap
$6.05B
52-week range
$20.88 - $30.34

Valuation

Share price
$24.10 (close of Nov 6, 2026)
P/E (TTM)
16.62x
Price to book
1.54x
Price to free cash flow
16.48x
Enterprise value
$7.57B
Book value per share
$15.69

Price performance

PeriodChange
1 day+2.29%
5 days+1.13%
1 month-14.69%
3 months-15.70%
6 months-8.16%
Year to date+12.25%
1 year+11.94%
3 years+113.65%
5 years+32.64%
All time+30.27%

Short interest

As of
Oct 15, 2026
Short % of float
5.38%
Shares short
11.70M
Days to cover
6.27
Change since prior report
-3.43%
Source
FINRA consolidated short interest

Profitability and growth

Return on equity
6.81%
Return on invested capital
6.65%
Return on assets
3.52%
Return on capital employed
7.25%
Gross margin
39.84%
Net margin
7.30%
EBITDA margin
19.72%
Revenue growth
1.03%
Net income growth
28.99%
Free cash flow growth
36.56%

Cash flow and balance sheet

Free cash flow yield (TTM)
6.07%
Current ratio
3.41x
Net debt to EBITDA
2.16x

Latest reported year

Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$3.44B
Cost of revenue
$2.07B
Gross profit
$1.37B
EBITDA
$679.10M
Net income
$251.40M
Earnings per share
$0.98
Research and development
$71.90M
Interest expense
$125.90M
Shares outstanding
260.53M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$3.44B$1.37B$251.40M$0.98
2024-12-28$3.41B$1.36B$194.90M$0.75
2023-12-30$3.57B$1.36B$232.90M$0.86
2022-12-31$3.55B$1.25B$220.80M$0.78
2022-01-01$3.47B$1.34B$297.10M$1.02
2021-01-02$2.79B$1.03B$79.40M$0.27
2019-12-28$3.09B$1.14B$690.10M$2.38
2018-12-29$3.35B$1.33B$245.30M$0.86
2017-12-30$3.04B$1.22B$151.30M$0.62
2016-12-31$2.75B$1.06B$57.70M$0.23

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3139.84%7.30%6.81%6.65%
2024-12-2839.86%5.72%5.83%6.27%
2023-12-3038.06%6.52%6.57%7.07%
2022-12-3135.19%6.21%6.41%6.12%
2022-01-0138.54%8.55%8.53%7.53%
2021-01-0237.05%2.84%2.49%3.50%
2019-12-2837.01%22.35%22.92%5.68%
2018-12-2939.75%7.33%10.51%8.71%
2017-12-3040.04%4.97%10.59%7.48%
2016-12-3138.62%2.10%5.40%5.79%

Cash and debt by year

Period endCashDebt
2025-12-31$812.10M$2.20B
2024-12-28$682.00M$2.31B
2023-12-30$720.60M$2.42B
2022-12-31$578.40M$2.43B
2022-01-01$658.20M$2.53B
2021-01-02$521.40M$2.67B
2019-12-28$635.30M$2.91B
2018-12-29$423.40M$2.95B
2017-12-30$564.40M$3.89B
2016-12-31$529.80M$3.79B

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$404.90M$27.20M
2024-12-28$296.50M$28.80M
2023-12-30$419.80M$27.40M
2022-12-31$188.20M$44.30M
2022-01-01$304.70M$24.60M
2021-01-02$250.80M$19.80M
2019-12-28$276.80M$15.00M
2018-12-29$147.40M$6.00M
2017-12-30$218.80M$5.40M
2016-12-31$317.70M$4.20M

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-10-30Sep 2026$0.42
2026-07-31Jun 2026$0.38
2026-05-01Mar 2026$0.31
2026-02-12Dec 2025$0.35
2025-10-29Sep 2025$0.35
2025-07-30Jun 2025$0.37
2025-04-30Mar 2025$0.31
2025-02-06Dec 2024$0.32

Filings and sources

Company website
gates.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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