# DONALDSON Co INC

> Clarifo company profile — qualitative business description generated from
> the company's filings. Financial statements, charts and ratios are
> available on Clarifo (https://www.clarifo.com/en/companies/DONALDSON Co INC).

## Overview

Donaldson Company, Inc. designs and sells filtration products and systems that remove dust, fumes, mist, liquids and emissions from industrial equipment and manufacturing environments. Founded in 1915, it serves OEMs, distributors and end customers across mobile equipment, industrial processing and life sciences applications, with a large global manufacturing and distribution footprint.

## Products & services

• Mobile filtration for off-road, on-road and aftermarket applications
• Industrial dust, fume and mist collectors
• Industrial air filtration systems and replacement filters
• Life sciences and bioprocessing filtration solutions
• Exhaust, emissions and sensor/monitoring systems
• Connected filtration and aftermarket service offerings

- **Mobile Solutions** (62%) — Filtration products for off-road, on-road and aftermarket vehicle and equipment applications.
- **Industrial Solutions** (30%) — Dust, fume, mist and industrial air filtration systems plus related service and aftermarket support.
- **Life Sciences** (8%) — Bioprocessing and membrane filtration products used in pharmaceutical and advanced life sciences applications.

- Mobile Solutions: replacement filters, housings and emissions systems
- Industrial Solutions: dust, fume and mist collectors and filters
- Life Sciences: bioprocessing and membrane filtration products
- iCue Connected Filtration Technology and digital service tools
- Aftermarket replacement filters and service support
- Filtration for air, fuel, lube, hydraulic and liquid applications

## Customers

Donaldson sells to OEMs, industrial end users, distributors and dealer networks that need highly reliable filtration for demanding applications. Its customer base spans construction, mining, agriculture, transportation, metals, chemicals, food and beverage, pharmaceuticals, recycling, alternative power and bioprocessing. Customers buy Donaldson products to protect equipment, meet emissions and air-quality requirements, reduce downtime and support process reliability.

- **OEMs in mobile equipment** (primary) — Buy filtration housings, replacement filters and emissions systems for new equipment production and aftermarket support.
- **Industrial manufacturing customers** (primary) — Buy dust, fume and mist collectors to improve air quality, protect workers and keep production running.
- **Aftermarket distributors and dealer networks** (primary) — Buy replacement filters and service parts to support installed equipment and recurring maintenance demand.
- **Life sciences and bioprocessing customers** (secondary) — Buy filtration and membrane solutions for cell and gene therapy, disease treatment and bioprocessing workflows.
- **Alternative power and emerging applications** (secondary) — Buy specialized filtration for EV manufacturing, recycling and alternative power systems.

- OEMs in construction, mining, agriculture and transportation
- Industrial plants needing dust, fume and mist control
- Distributors and dealer networks serving replacement demand
- Life sciences customers needing bioprocessing filtration
- End users seeking uptime, compliance and lower maintenance cost

## Geography

Donaldson is globally diversified, with fiscal 2025 revenue split across the U.S. and Canada, EMEA, APAC and LATAM. The company operates at more than 150 locations on six continents, including 77 manufacturing and/or distribution centers, which supports local service, supply chain resilience and customer proximity. Its broad footprint also exposes it to currency, trade, regulatory and local demand differences across regions.

- **U.S. and Canada** (44.2%) — Fiscal 2025 revenue share from company disclosure.
- **Europe, Middle East and Africa (EMEA)** (27.8%) — Fiscal 2025 revenue share from company disclosure; country list is illustrative for the region.
- **Asia Pacific (APAC)** (17.2%) — Fiscal 2025 revenue share from company disclosure; country list is illustrative for the region.
- **Latin America (LATAM)** (10.8%) — Fiscal 2025 revenue share from company disclosure; country list is illustrative for the region.

- U.S. and Canada were 44.2% of fiscal 2025 revenue
- EMEA contributed 27.8% of fiscal 2025 revenue
- APAC contributed 17.2% of fiscal 2025 revenue
- LATAM contributed 10.8% of fiscal 2025 revenue
- More than 150 locations across six continents support local service

## Strategy

Donaldson is focused on extending market access, expanding technologies and solutions, and pursuing strategic acquisitions. The company is using its filtration base to grow in bioprocessing and alternative power, while also building connected service offerings that can deepen aftermarket relationships and improve customer retention. Acquisitions are intended to add capability, geographic reach and exposure to higher-margin adjacencies.

- **Extend market access** (medium-term) — Broadens the addressable market beyond core filtration and supports growth in adjacent end markets.
- **Expand technologies and solutions** (medium-term) — Connected products and digital tools can increase aftermarket share and improve customer stickiness.
- **Pursue strategic acquisitions** (medium-term) — Acquisitions can accelerate growth and add capability in higher-margin areas.

- Expand bioprocessing presence in life sciences
- Grow in alternative power and adjacent markets
- Increase connected industrial service offerings
- Improve digital experience and data integration
- Use acquisitions to add scale and higher-margin capabilities

## Risks

Donaldson faces cyclical demand tied to industrial production, construction, mining, agriculture and capital spending, which can affect OEM and aftermarket volumes. Its global footprint also creates exposure to tariffs, trade barriers, foreign exchange, local regulation and geopolitical disruption, while raw material inflation and supply chain volatility can pressure margins. In life sciences, slower bioprocessing spending and long drug-development timelines can delay demand, and the company also faces cybersecurity, IP and goodwill/intangible impairment risk.

- **Cyclical industrial and mobile equipment demand** [high] — Sales depend on construction, mining, agriculture, transportation and manufacturing activity.
- **Global trade and geopolitical disruption** [high] — The company operates across many countries and is exposed to tariffs, trade barriers and local regulation.
- **Raw material and supply chain cost inflation** [medium] — Steel, filter media and petrochemical-based inputs are a large part of cost of sales.
- **Life sciences demand softness and project timing** [medium] — Bioprocessing spending can slow and project timing can shift, affecting growth in this segment.
- **Cybersecurity and intellectual property risk** [medium] — A successful attack or IP infringement could disrupt operations and reduce demand.

- Cyclical end markets can reduce OEM and aftermarket demand
- Global operations expose the company to tariffs and trade barriers
- Foreign exchange can affect reported sales and profitability
- Raw material inflation can pressure margins and pricing recovery
- Cybersecurity or IP breaches could disrupt operations and reputation

## Accounting

Revenue recognition is affected by variable consideration such as rebates, discounts, returns and refunds, so estimates can shift reported sales. Goodwill and acquired intangibles are important because the company has grown through acquisitions and must test these assets for impairment, as shown by the fiscal 2025 intangible impairment charge tied to weaker bioprocessing spending. Foreign currency translation also affects reported revenue by region, and share repurchases, dividends and acquisition accounting can materially change cash flow and equity presentation.

- **Revenue recognition and variable consideration** — Affects reported net sales and gross margin.
- **Goodwill and intangible asset impairment** — Can create large non-cash charges, as seen in fiscal 2025.
- **Foreign currency translation** — Impacts net sales and earnings comparability across periods.
- **Acquisition valuation and contingent consideration** — Can affect goodwill, amortization and post-deal earnings.

- Variable consideration reduces revenue for rebates, discounts and returns
- Acquisition accounting can create goodwill and intangible assets
- Goodwill and intangibles require impairment testing and can create charges
- Foreign currency translation affects reported regional sales
- Quarterly seasonality and project timing can affect comparability

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*Last updated: 2026-04-28T20:00:54.376624+00:00*