• It's like Honeywell for industrial automation, providing the essential technology that makes factories and plants run efficiently.
• Think of it as Siemens' industrial division, building the crucial control systems and software for everything from power plants to chemical facilities.
• It's like the Microsoft of industrial operations, supplying the intelligence and control systems that make manufacturing plants smart and productive.

• Measurement & Analytical Instruments: Devices used to monitor and analyze process variables such as pressure, temperature, flow, and gas composition in industrial settings.
• Valves & Actuators: Control, shutoff, and relief valves along with the devices (actuators) that open and close them, essential for managing fluid flow in pipelines and processes.
• Industrial Control Systems: Distributed Control Systems (DCS), Programmable Logic Controllers (PLC), and other solutions for automating and optimizing plant operations.
• Fluid Control & Pneumatics: Products like solenoid valves, cylinders, and air preparation units that manage the flow of liquids and gases in industrial automation applications.
• Asset Management Software: Software tools that enable predictive maintenance, improve asset reliability, and optimize plant performance for industrial operations.

Emerson Electric (EMR) - Major Customers

Emerson Electric (EMR) primarily operates as a Business-to-Business (B2B) company, selling its products, technologies, and services to other businesses rather than directly to individual consumers. Its customer base is highly diversified across numerous industrial, commercial, and residential markets globally.

Due to the vast and fragmented nature of its customer base, Emerson Electric does not typically disclose specific "major customers" by name in its public filings, as no single customer or small group of customers accounts for a significant portion of its total revenue. Instead, Emerson serves thousands of companies across various sectors. Its customers generally fall into the following categories:

• Industrial Process Companies: These are large enterprises in sectors that rely heavily on automation, control systems, and operational technologies to manage complex processes. Key industries include:
  • Oil & Gas (e.g., exploration, production, refining, transportation companies)
  • Chemical and Petrochemical manufacturers
  • Power Generation (e.g., utilities, independent power producers)
  • Mining and Metals companies
  • Pharmaceutical and Life Sciences companies
  • Food & Beverage producers
  • Water and Wastewater treatment facilities
  • Pulp & Paper mills
• Discrete Manufacturing Companies: Businesses involved in the production of distinct, countable items, often utilizing precision automation and assembly solutions. These include:
  • Automotive manufacturers
  • Packaging companies
  • Electronics manufacturers
  • Material handling system integrators
• Commercial & Residential Equipment Manufacturers (OEMs): Companies that integrate Emerson's components (such as compressors, thermostats, valves, and heating elements) into their finished products. These often include:
  • Heating, Ventilation, Air Conditioning, and Refrigeration (HVACR) system manufacturers
  • Appliance manufacturers
  • Foodservice equipment manufacturers
• Contractors, Distributors, and Wholesalers: These businesses purchase Emerson products (e.g., professional tools under brands like RIDGID and Greenlee, or HVACR components) and then sell or install them for their own commercial and residential end-users.

While Emerson provides crucial technologies and services to these companies, it does not have publicly disclosed "major customers" in the sense of a few dominant revenue sources.

Lal Karsanbhai President and Chief Executive Officer

Lal Karsanbhai became the President and Chief Executive Officer of Emerson in February 2021, after a 26-year career with the company. He joined Emerson in 1995 as an international planner and advanced through various business development and leadership positions. Karsanbhai served as President of Emerson's Fisher regulator technologies from 2008 to 2012 and led the Automation Solutions business from October 2018 until his appointment as CEO. Notably, before joining Emerson, he was a helicopter pilot.

Mike Baughman Executive Vice President and Chief Financial Officer

Mike Baughman was promoted to Executive Vice President and Chief Financial Officer of Emerson in May 2023. He joined Emerson in 2017 as vice president and controller. Prior to Emerson, he spent 14 years in various corporate finance and accounting roles at Baxter International, where the company was involved in mergers and acquisitions and a company split. Baughman began his career with PricewaterhouseCoopers (PwC) for 16 years, including five years as a partner, specializing in transactions and auditing. In this role, he gained experience assisting corporate and private equity clients with buy-side and sell-side due diligence and acquisition integration.

Ram Krishnan Executive Vice President and Chief Operating Officer

Ram Krishnan became Executive Vice President and Chief Operating Officer of Emerson in February 2021. He joined Emerson in 1994 as a project engineer and has held numerous management roles, including president of Climate Technologies in Asia. Krishnan was also chief operating officer of final control and group president of final control, following the acquisition of Pentair's valves and controls business in 2017.

Michael H. Train Senior Vice President and Chief Sustainability Officer

Michael H. Train was named Emerson's first Chief Sustainability Officer in March 2021. He began his career with Emerson in 1991 as an International Planner and has held various senior positions, including President of Emerson Japan and Korea, President of Emerson Process Management Asia Pacific, and President of Emerson's Automation Solutions business. He also served as President of Emerson from 2018 to 2021.

Michael Tang Senior Vice President, Secretary and Chief Legal Officer

Michael Tang serves as the Senior Vice President, Secretary and Chief Legal Officer at Emerson.

The increasing prevalence of open-source industrial automation platforms, coupled with the growing capabilities of cloud-native industrial software solutions and the drive for greater interoperability (e.g., through initiatives like the Open Process Automation Forum), presents an emerging threat. This trend challenges the traditional proprietary, vertically integrated model prevalent in industrial control systems, potentially commoditizing specialized hardware and software components from companies like Emerson Electric and shifting value towards open ecosystems, software-defined control, and pure cloud service providers.

Emerson Electric (symbol: EMR) operates in significant addressable markets through its two primary business segments: Automation Solutions and Commercial & Residential Solutions.

Automation Solutions

This segment focuses on providing automation technologies and services, including measurement and analytical instruments, valves, control systems, and industrial software, to various industries such as oil and gas, power generation, and chemical processing.

• The global industrial automation market size was valued at approximately USD 206.33 billion in 2024 and is projected to reach USD 378.57 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 10.8% from 2025 to 2030. Other estimates place the global industrial automation market at USD 221.64 billion in 2025, projected to reach USD 325.51 billion by 2030, reflecting a 7.99% CAGR.

Commercial & Residential Solutions

This segment delivers products and services for building automation, climate technologies (heating, ventilation, and air conditioning - HVAC), and refrigeration technologies.

• The global HVAC systems market size was estimated at USD 241.52 billion in 2024 and is projected to reach USD 445.73 billion by 2033, growing at a CAGR of 7.0% from 2025 to 2033. Another report estimates the global HVAC system market size at USD 289.99 billion in 2024, predicted to increase to approximately USD 407.77 billion in 2030, expanding at a CAGR of 6.4% from 2025 to 2030.
• The global commercial refrigeration market size was valued at USD 85.6 billion in 2024 and is expected to reach USD 161 billion by 2034, growing at a CAGR of 6.6% during 2025 to 2034.

Emerson Electric (EMR) is poised for future revenue growth over the next 2-3 years, driven by several strategic initiatives and market tailwinds:

1. Software-Centric Transformation and Project Beyond: Emerson is undergoing a significant shift from hardware-centric to software-defined automation, exemplified by its "Project Beyond" initiative and the Enterprise Operations Platform (EOP). This strategy aims to unify data from operational technology (OT) silos into an AI-enabled ecosystem, integrating legacy systems with newer tools like AspenTech's optimization software. The goal is to significantly increase the contribution of software to total revenue, boosting margins and recurring revenue streams.
2. Growth in Industrial Automation via "Boundless Automation": The company is capitalizing on the expanding demand for advanced automation solutions across diverse industries, including process controls, hybrid, and discrete automation systems. Emerson's "Boundless Automation" initiative is central to this effort, focusing on innovation and developing new, high-margin products and services within the automation sector.
3. Leveraging the Energy Transition, particularly LNG: Emerson's strategic exposure to the global energy transition, especially in liquefied natural gas (LNG) and pipeline infrastructure, is a critical growth driver. The company is positioned to benefit from substantial anticipated spending in energy infrastructure, with automation playing a vital role in decarbonization efforts.
4. Strategic Acquisitions and Portfolio Optimization: Emerson has been actively transforming its business by acquiring key industrial software companies such as AspenTech and National Instruments, while divesting non-core assets. These strategic acquisitions are intended to strengthen its software capabilities, expand its presence in process automation, and generate significant cost synergies, thereby enhancing its ability to provide comprehensive solutions.
5. Expansion in Key End Markets and Secular Tailwinds: The company anticipates continued positive momentum and growth driven by significant capital investments in various secular growth markets. These include power, LNG, life sciences, semiconductor, and aerospace & defense sectors, which are expected to drive sustainable growth for Emerson's portfolio.

Share Repurchases

• In November 2025, the Board authorized the repurchase of up to 50 million shares over the next several years, in addition to approximately 20 million shares remaining from a March 2020 authorization of 60 million shares.
• Emerson plans to return approximately $1.0 billion through share repurchases in fiscal year 2026.
• The company's repurchase of common stock averaged -$959.8 million annually for fiscal years ending September 2020 to 2024.

Share Issuance

• No information is available regarding the dollar amount of shares issued.

Inbound Investments

• No information is available regarding large inbound investments made in the company by third-parties.

Outbound Investments

• In March 2025, Emerson completed the acquisition of all outstanding shares of AspenTech not already owned by Emerson, following an initial combination of Emerson’s industrial software businesses with AspenTech in May 2022.
• Emerson completed the acquisition of NI (National Instruments) in October 2023, diversifying its technology into test and measurement automation.
• As part of its portfolio transformation, Emerson divested its majority stake in the Climate Technologies business in May 2023 and the InSinkErator business in November 2022.

Capital Expenditures

• Capital expenditures were $431 million for the fourth quarter of fiscal year 2025 and $419 million for the fourth quarter of fiscal year 2024.
• Emerson Electric's capital expenditures averaged 2.7% of revenue for fiscal years ending September 2020 to 2024.
• Expected capital expenditures are projected to remain at 2–2.5% of revenue, supporting the company's automation strategy and R&D investment.