Gates Industrial (GTES)
Market Price (3/10/2026): $24.115 | Market Cap: $6.2 BilSector: Industrials | Industry: Industrial Machinery & Supplies & Components
Gates Industrial (GTES)
Market Price (3/10/2026): $24.115Market Cap: $6.2 BilSector: IndustrialsIndustry: Industrial Machinery & Supplies & Components
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% | Weak multi-year price returns3Y Excs Rtn is -1.0% | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.0% |
| Attractive yieldFCF Yield is 5.9% | Key risksGTES key risks include [1] its heavy reliance on cyclical industrial and automotive markets, Show more. | |
| Low stock price volatilityVol 12M is 40% | ||
| Megatrend and thematic driversMegatrends include Automation & Robotics, Water Infrastructure, and Sustainable Infrastructure. Themes include Factory Automation, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Attractive yieldFCF Yield is 5.9% |
| Low stock price volatilityVol 12M is 40% |
| Megatrend and thematic driversMegatrends include Automation & Robotics, Water Infrastructure, and Sustainable Infrastructure. Themes include Factory Automation, Show more. |
| Weak multi-year price returns3Y Excs Rtn is -1.0% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.0% |
| Key risksGTES key risks include [1] its heavy reliance on cyclical industrial and automotive markets, Show more. |
Qualitative Assessment
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Gates Industrial (GTES) stock has gained about 5% since 11/30/2025 because of the following key factors:
1. Gates Industrial reported stronger-than-expected fourth-quarter and full-year 2025 financial results, alongside robust 2026 guidance.
The company's adjusted earnings per share (EPS) for Q4 2025 reached $0.38, surpassing expectations by $0.01, with net sales of $856.2 million beating estimates by $2.85 million. Full-year 2025 adjusted EPS grew 9% to a record $1.52. For 2026, the company projected core sales growth of 1% to 4% and anticipated adjusted EPS of $1.52 to $1.68, representing 5% growth at the midpoint.
2. Strategic investments in high-growth segments, Personal Mobility and Data Centers, demonstrated significant expansion.
The Personal Mobility segment achieved 28% growth in core sales during Q4 2025 and over 25% core growth for the full year 2025. Additionally, Data Center revenues quadrupled year-over-year in 2025. These segments are expected to continue growing at rates significantly higher than the company's overall average.
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1. Gates Industrial reported stronger-than-expected fourth-quarter and full-year 2025 financial results, alongside robust 2026 guidance.
The company's adjusted earnings per share (EPS) for Q4 2025 reached $0.38, surpassing expectations by $0.01, with net sales of $856.2 million beating estimates by $2.85 million. Full-year 2025 adjusted EPS grew 9% to a record $1.52. For 2026, the company projected core sales growth of 1% to 4% and anticipated adjusted EPS of $1.52 to $1.68, representing 5% growth at the midpoint.
2. Strategic investments in high-growth segments, Personal Mobility and Data Centers, demonstrated significant expansion.
The Personal Mobility segment achieved 28% growth in core sales during Q4 2025 and over 25% core growth for the full year 2025. Additionally, Data Center revenues quadrupled year-over-year in 2025. These segments are expected to continue growing at rates significantly higher than the company's overall average.
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Stock Movement Drivers
Fundamental Drivers
The 5.9% change in GTES stock from 11/30/2025 to 3/9/2026 was primarily driven by a 5.4% change in the company's Net Income Margin (%).| (LTM values as of) | 11302025 | 3092026 | Change |
|---|---|---|---|
| Stock Price ($) | 22.76 | 24.11 | 5.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,416 | 3,443 | 0.8% |
| Net Income Margin (%) | 6.9% | 7.3% | 5.4% |
| P/E Multiple | 24.8 | 24.5 | -1.1% |
| Shares Outstanding (Mil) | 258 | 256 | 0.8% |
| Cumulative Contribution | 5.9% |
Market Drivers
11/30/2025 to 3/9/2026| Return | Correlation | |
|---|---|---|
| GTES | 5.9% | |
| Market (SPY) | -0.7% | 32.0% |
| Sector (XLI) | 11.2% | 59.0% |
Fundamental Drivers
The -5.7% change in GTES stock from 8/31/2025 to 3/9/2026 was primarily driven by a -24.4% change in the company's P/E Multiple.| (LTM values as of) | 8312025 | 3092026 | Change |
|---|---|---|---|
| Stock Price ($) | 25.56 | 24.11 | -5.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,391 | 3,443 | 1.5% |
| Net Income Margin (%) | 6.0% | 7.3% | 22.2% |
| P/E Multiple | 32.4 | 24.5 | -24.4% |
| Shares Outstanding (Mil) | 257 | 256 | 0.6% |
| Cumulative Contribution | -5.7% |
Market Drivers
8/31/2025 to 3/9/2026| Return | Correlation | |
|---|---|---|
| GTES | -5.7% | |
| Market (SPY) | 5.4% | 37.2% |
| Sector (XLI) | 12.9% | 51.7% |
Fundamental Drivers
The 11.4% change in GTES stock from 2/28/2025 to 3/9/2026 was primarily driven by a 27.7% change in the company's Net Income Margin (%).| (LTM values as of) | 2282025 | 3092026 | Change |
|---|---|---|---|
| Stock Price ($) | 21.64 | 24.11 | 11.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,408 | 3,443 | 1.0% |
| Net Income Margin (%) | 5.7% | 7.3% | 27.7% |
| P/E Multiple | 28.3 | 24.5 | -13.3% |
| Shares Outstanding (Mil) | 255 | 256 | -0.3% |
| Cumulative Contribution | 11.4% |
Market Drivers
2/28/2025 to 3/9/2026| Return | Correlation | |
|---|---|---|
| GTES | 11.4% | |
| Market (SPY) | 15.2% | 68.9% |
| Sector (XLI) | 26.7% | 73.4% |
Fundamental Drivers
The 71.7% change in GTES stock from 2/28/2023 to 3/9/2026 was primarily driven by a 36.5% change in the company's P/E Multiple.| (LTM values as of) | 2282023 | 3092026 | Change |
|---|---|---|---|
| Stock Price ($) | 14.04 | 24.11 | 71.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,554 | 3,443 | -3.1% |
| Net Income Margin (%) | 6.2% | 7.3% | 17.5% |
| P/E Multiple | 18.0 | 24.5 | 36.5% |
| Shares Outstanding (Mil) | 282 | 256 | 10.5% |
| Cumulative Contribution | 71.7% |
Market Drivers
2/28/2023 to 3/9/2026| Return | Correlation | |
|---|---|---|
| GTES | 71.7% | |
| Market (SPY) | 77.5% | 58.4% |
| Sector (XLI) | 76.7% | 65.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| GTES Return | 25% | -28% | 18% | 53% | 4% | 12% | 88% |
| Peers Return | 19% | -7% | 39% | 23% | 14% | 15% | 149% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -2% | 79% |
Monthly Win Rates [3] | |||||||
| GTES Win Rate | 58% | 42% | 50% | 42% | 67% | 67% | |
| Peers Win Rate | 62% | 35% | 60% | 60% | 58% | 67% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| GTES Max Drawdown | -2% | -39% | -6% | -7% | -24% | 0% | |
| Peers Max Drawdown | -10% | -26% | -5% | -6% | -27% | 0% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -2% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: PH, ETN, RRX, TKR, FLS. See GTES Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/9/2026 (YTD)
How Low Can It Go
| Event | GTES | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -48.4% | -25.4% |
| % Gain to Breakeven | 93.8% | 34.1% |
| Time to Breakeven | 751 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -56.3% | -33.9% |
| % Gain to Breakeven | 128.8% | 51.3% |
| Time to Breakeven | 301 days | 148 days |
| 2018 Correction | ||
| % Loss | -61.4% | -19.8% |
| % Gain to Breakeven | 159.1% | 24.7% |
| Time to Breakeven | 1,910 days | 120 days |
Compare to PH, ETN, RRX, TKR, FLS
In The Past
Gates Industrial's stock fell -48.4% during the 2022 Inflation Shock from a high on 6/4/2021. A -48.4% loss requires a 93.8% gain to breakeven.
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About Gates Industrial (GTES)
Gates Industrial Corporation plc manufactures and sells engineered power transmission and fluid power solutions worldwide. It operates in two segments, Power Transmission and Fluid Power. The company offers synchronous or asynchronous belts, including V-belts, CVT belts, and Micro-V belts, as well as related components, such as sprockets, pulleys, water pumps, tensioners, or other accessories; solutions for stationary and mobile drives, engine systems, personal mobility, and vertical lifts application platforms; metal drive components; and kits for automotive replacement channels. It also provides fluid power solutions comprising stationary hydraulics, mobile hydraulics, engine systems, and other industrial application platforms; and hydraulics, including hoses, tubing, and fittings, as well as assemblies. The company serves construction, agriculture, energy and resources, automotive, transportation, mobility and recreation, consumer products, and various industrial applications, such as automated manufacturing and logistics systems. It sells its engineered products under the Gates brand. The company offers its products to replacement channel customers, as well as to original equipment manufacturers. Gates Industrial Corporation plc was founded in 1911 and is headquartered in Denver, Colorado.
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The **Intel** of industrial power transmission, supplying critical internal components like belts and hoses.
The **Goodyear** for industrial and automotive belts and hoses.
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- Power Transmission Belt Products: A range of industrial belts (V-belts, synchronous belts, micro-V belts) and related components used for mechanical power transfer in various industrial and automotive applications.
- Fluid Power Products: Hydraulic hoses, couplings, and assemblies designed to transmit power through fluids in diverse industrial, construction, and automotive systems.
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Gates Industrial (GTES) primarily sells its highly engineered power transmission and fluid power products to other companies (B2B) across a diverse range of industrial and automotive applications. According to its public filings, no single customer accounts for more than 10% of its net sales, indicating a broad and diversified customer base.
However, Gates' customers generally fall into the following categories, with illustrative examples of public companies that operate in these sectors and would typically purchase such products. Please note that these are examples of the types of companies in Gates' customer base and not necessarily named, disclosed major customers due to the diversified nature of their sales:
-
Original Equipment Manufacturers (OEMs): These are companies that integrate Gates' components (like belts, hoses, and fluid power products) into their finished machinery and vehicles. Gates supplies critical parts for various heavy industries.
- Caterpillar Inc. (CAT) - A leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives.
- Deere & Company (DE) - A global manufacturer of agricultural, construction, and forestry machinery, diesel engines, drivetrains (axles, transmissions, gearboxes) used in heavy equipment, and lawn care equipment.
- PACCAR Inc (PCAR) - A technology company that manufactures light, medium, and heavy-duty trucks under the Kenworth, Peterbilt, and DAF nameplates.
- Cummins Inc. (CMI) - A global power leader that designs, manufactures, distributes, and services engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions, and electrical power generation systems.
- Industrial Distributors: These companies purchase Gates' industrial power transmission and fluid power products for resale to a wide array of industrial end-users for maintenance, repair, and overhaul (MRO) applications.
-
Automotive Aftermarket Distributors: These distributors sell Gates' automotive belts, hoses, and tensioners as replacement parts for vehicles to repair shops and consumers.
- Genuine Parts Company (GPC) - A distributor of automotive replacement parts (primarily through its NAPA Auto Parts business) and industrial replacement parts.
- O'Reilly Automotive, Inc. (ORLY) - A retailer of automotive aftermarket parts, tools, supplies, equipment, and accessories.
- AutoZone, Inc. (AZO) - A retailer and distributor of automotive replacement parts and accessories.
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Ivo Jurek, Chief Executive Officer and Director
Mr. Jurek has served as Chief Executive Officer and Director of Gates Industrial Corporation plc since May 2015, joining the company when it was a portfolio company of Blackstone. Prior to his role at Gates, he was President of Eaton's Electrical business in Asia Pacific from November 2012. His career in the industrials sector also includes significant general management positions at Cooper Industries (where he served as Group President for Cooper Power Systems—Cooper Bussmann), International Rectifier Corporation, and TRW Inc.
L. Brooks Mallard, Executive Vice President and Chief Financial Officer
Mr. Mallard has served as Executive Vice President and Chief Financial Officer of Gates Industrial since February 2020. Before joining Gates, he was the Chief Financial Officer of Henniges Automotive. Previously, he served as Executive Vice President and Chief Financial Officer of Jeld-Wen, where he guided the company from private equity ownership through an initial public offering on the NYSE, indicating a pattern of managing companies backed by private equity firms. He has also held senior financial leadership roles with TRW Automotive, Cooper Industries plc, Thomas & Betts, and Briggs & Stratton during his career.
Thomas G. Pitstick, President, Americas
Mr. Pitstick has served as President, Americas since August 2024. He joined Gates in January 2016 and has held various leadership roles, including President of APAC, Chief Strategy Officer, Chief Marketing Officer, and Senior Vice President of Innovation. Prior to Gates, he was Senior Vice President of Marketing — Electrical Sector with Eaton Corporation. He also held positions at Cooper Industries, including Vice President and General Manager of the Cooper Power Systems Energy Automation Solutions business unit.
Cristin C. Bracken, Executive Vice President, Chief Legal Officer and Corporate Secretary
Ms. Bracken serves as Executive Vice President, Chief Legal Officer, and Corporate Secretary for Gates Industrial Corporation plc.
Gwendolyn Ann Montgomery, Executive Vice President and Chief Human Resources Officer
Ms. Montgomery serves as Executive Vice President and Chief Human Resources Officer for Gates Industrial Corporation plc.
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Key Risks to Gates Industrial (GTES)
Gates Industrial Corporation (GTES) faces several key risks that could impact its business operations and financial performance. These risks primarily stem from its exposure to cyclical markets, potential disruptions within its supply chain, and the competitive landscape driven by technological advancements.
- Market Dependence and Economic Cyclicality: Gates Industrial's revenue is heavily reliant on the performance of the industrial and automotive markets, which are inherently subject to economic cycles and fluctuations in demand. Weakness in key industrial markets and broader economic slowdowns can significantly impede the company's growth trajectory and earnings resilience. For instance, the company's industrial segment experienced a 12.7% revenue decline in 2023 due to market volatility.
- Supply Chain Disruptions and Raw Material Cost Volatility: The company is vulnerable to global supply chain challenges, including shortages of raw materials, transportation delays, and significant volatility in raw material costs. These disruptions can affect Gates' ability to meet customer demand, lead to production delays, and impact profit margins. Raw material costs, for example, saw a 15.6% increase in 2023.
- Competition and Pace of Technological Transformation: Gates Industrial operates in a competitive environment where numerous global and regional players vie for market share in the power transmission and fluid power sectors. The rapid pace of technological advancements, such as automation, IoT, and AI, necessitates continuous adaptation and innovation. Furthermore, the company is undergoing a strategic shift towards higher-value applications in areas like data centers and e-mobility, and there is a risk that these new markets may not scale linearly, impacting the anticipated benefits of this transformation.
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The accelerating global trend towards electrification of vehicles (automotive and off-highway) and industrial equipment. This shift reduces the demand for many traditional belts, hoses, and hydraulic components that are integral to internal combustion engines and conventional hydraulic systems, which currently constitute a significant portion of Gates Industrial's product portfolio. While Gates is adapting its offerings to support electric powertrains (e.g., thermal management systems, auxiliary belts), the fundamental architecture of electric systems typically requires fewer of their legacy mechanical and fluid power products, posing a long-term threat to core revenue streams.
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Gates Industrial Corporation (GTES) is a global manufacturer of highly engineered power transmission and fluid power solutions. The company's main products and services cater to a diverse range of industrial and automotive applications. The addressable markets for Gates Industrial's main products and services are as follows:- Power Transmission Belts: The global power transmission belting market size is estimated at approximately USD 12.69 billion in 2025 and is projected to grow to around USD 24.02 billion by 2034. Another estimate for the global power transmission belts market valued it at USD 11.55 billion in 2023, with a projection to reach USD 16.34 billion by 2030. The global industrial power transmission belts market is valued at USD 6.2 billion in 2025 and is expected to reach USD 11.3 billion by 2033.
- Fluid Power Products (including industrial and hydraulic hoses): The global fluid power equipment market, which includes hydraulic components, was valued at USD 51.9 billion in 2024 and is expected to reach USD 90.2 billion by 2033. Other sources estimate the global fluid power equipment market size to be around USD 48.7 billion for 2025, growing to USD 73.5 billion by 2032, or USD 47.69 billion in 2024, projected to reach USD 75.55 billion by 2032. For industrial hoses specifically, the global market size was estimated at USD 15.48 billion in 2025 and is expected to reach approximately USD 27.82 billion by 2034.
- Automotive Belts and Hoses: The global automotive engine belt and hoses market size is expected to grow from USD 25.2 billion in 2023 to USD 44.21 billion by 2033. Another report indicates the global automotive belts and hoses market size at USD 23.17 billion in 2025, with an expectation to reach USD 31.55 billion by 2030.
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Gates Industrial (symbol: GTES) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:
- Growth in Personal Mobility: The company anticipates continued strong growth in its Personal Mobility segment, projecting a compound annual growth rate of approximately 30% over the next three years. This growth is driven by new design wins and electrification trends, with investments being made to enter new applications and expand commercial competencies.
- Expansion in Data Center Liquid Cooling Solutions: Gates Industrial sees the data center liquid cooling market as an expanding opportunity. Although currently a small base, this segment has a pipeline exceeding $150 million and is positioned for meaningful growth as broader adoption accelerates.
- Geographical Expansion into Emerging Markets: Gates Industrial's expansion strategy includes geographical diversification, with a focus on emerging markets, particularly in Asia and Latin America. This aims to capture a larger market share in regions experiencing rapid industrialization and infrastructure development.
- New Product Development for Electric Vehicles and Automation: The company is investing in enhancing its product portfolio through new product development, especially for the electric vehicle (EV) and automation industries. These innovations are expected to translate into relevance across new applications.
- Continued Growth in the Automotive Replacement Channel: The automotive replacement channel has been a consistent contributor to revenue, showing low to mid-single-digit growth. This channel is expected to continue supporting overall revenue expansion.
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Share Repurchases
- Gates Industrial authorized a new share repurchase program of up to $300 million in October 2025, valid through December 2026. This replaced a prior authorization.
- The company repurchased $175 million of its stock in 2024.
- In August 2024, Gates entered into a contract to repurchase $125 million of ordinary shares in conjunction with a secondary offering by affiliates of Blackstone Inc.
Share Issuance
- In August 2024, certain selling stockholders affiliated with Blackstone Inc. conducted a secondary offering of 20,000,000 ordinary shares, with Gates Industrial not receiving any proceeds from this sale.
- Another secondary offering of 11,635,224 ordinary shares by Blackstone affiliates took place in October 2024, from which Gates did not receive proceeds.
- The number of ordinary shares outstanding has been declining, from 0.288 billion in 2022 to 0.260 billion as of June 30, 2025, largely due to repurchases.
Capital Expenditures
- Capital expenditures are anticipated to be approximately $120 million for both 2025 and 2024.
- In 2022, capital expenditures amounted to $179 million.
- The primary focus of capital expenditures includes investments aimed at driving growth, improving profitability, adding new capacity, and executing footprint optimization initiatives to reduce structural costs.
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 02272026 | EFX | Equifax | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.0% | 0.0% | 0.0% |
| 02202026 | LZ | LegalZoom.com | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 7.2% | 7.2% | -5.0% |
| 02132026 | ADP | Automatic Data Processing | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 1.1% | 1.1% | -3.0% |
| 02132026 | TREX | Trex | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -3.2% | -3.2% | -5.9% |
| 02132026 | PCTY | Paylocity | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -0.6% | -0.6% | -4.8% |
| 03312025 | GTES | Gates Industrial | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 34.8% | 49.8% | -15.5% |
| 05312023 | GTES | Gates Industrial | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 5.1% | 47.4% | -8.3% |
| 04302022 | GTES | Gates Industrial | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -11.0% | 5.6% | -23.9% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 148.28 |
| Mkt Cap | 11.4 |
| Rev LTM | 5,332 |
| Op Inc LTM | 626 |
| FCF LTM | 664 |
| FCF 3Y Avg | 510 |
| CFO LTM | 773 |
| CFO 3Y Avg | 648 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 1.9% |
| Rev Chg 3Y Avg | 5.5% |
| Rev Chg Q | 3.9% |
| QoQ Delta Rev Chg LTM | 1.0% |
| Op Mgn LTM | 13.4% |
| Op Mgn 3Y Avg | 13.7% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 15.1% |
| CFO/Rev 3Y Avg | 12.8% |
| FCF/Rev LTM | 11.8% |
| FCF/Rev 3Y Avg | 10.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 11.4 |
| P/S | 2.1 |
| P/EBIT | 17.4 |
| P/E | 30.8 |
| P/CFO | 16.3 |
| Total Yield | 3.9% |
| Dividend Yield | 0.4% |
| FCF Yield 3Y Avg | 5.6% |
| D/E | 0.2 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -6.4% |
| 3M Rtn | 10.0% |
| 6M Rtn | 27.2% |
| 12M Rtn | 40.5% |
| 3Y Rtn | 97.4% |
| 1M Excs Rtn | -2.1% |
| 3M Excs Rtn | 9.3% |
| 6M Excs Rtn | 22.0% |
| 12M Excs Rtn | 23.0% |
| 3Y Excs Rtn | 19.6% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Power Transmission | 2,108 | 2,191 | 2,174 | 2,216 | 1,800 |
| Fluid Power | 1,300 | 1,379 | 1,380 | 1,258 | 993 |
| Total | 3,408 | 3,570 | 3,554 | 3,474 | 2,793 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Power Transmission | 469 | 461 | 404 | 501 | 353 |
| Fluid Power | 292 | 286 | 277 | 235 | 154 |
| Credit (gain) loss related to customer bankruptcy (included in selling, general and administrative | 0 | -11 | 0 | ||
| Asset impairments | 0 | -0 | -1 | -1 | -5 |
| Cybersecurity incident expenses | 0 | -5 | 0 | ||
| Other items not directly related to current operations | 0 | -0 | -0 | 9 | 3 |
| Restructuring related expenses (included in cost of sales) | -2 | -0 | -1 | -1 | |
| Restructuring-related expenses (included in selling, general and administrative (SG&A)) | -3 | -1 | -0 | -1 | -8 |
| Transaction-related expenses | -3 | -2 | -2 | -4 | -5 |
| Restructuring expenses | -6 | -12 | -10 | -7 | -37 |
| Inventory adjustments (included in cost of sales) | -22 | -7 | -21 | -1 | -1 |
| Share-based compensation expense | -29 | -27 | -44 | -25 | -20 |
| Depreciation and amortization | -217 | -218 | -217 | -223 | -219 |
| Sponsor fees (included in other operating (income) expenses) | -2 | ||||
| Total | 479 | 463 | 384 | 484 | 211 |
Price Behavior
Price Behavior
| Market Price | $24.11 | |
| Market Cap ($ Bil) | 6.2 | |
| First Trading Date | 01/25/2018 | |
| Distance from 52W High | -14.0% | |
| 50 Days | 200 Days | |
| DMA Price | $24.56 | $23.87 |
| DMA Trend | up | up |
| Distance from DMA | -1.8% | 1.0% |
| 3M | 1YR | |
| Volatility | 37.3% | 39.8% |
| Downside Capture | 58.32 | 126.33 |
| Upside Capture | 128.13 | 124.21 |
| Correlation (SPY) | 32.9% | 68.4% |
GTES Betas & Captures as of 2/28/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.09 | 0.52 | 0.73 | 1.05 | 1.44 | 1.29 |
| Up Beta | 2.13 | 2.64 | 2.86 | 1.96 | 1.58 | 1.43 |
| Down Beta | -1.09 | -0.13 | -0.05 | 0.70 | 1.47 | 1.33 |
| Up Capture | 87% | 129% | 116% | 98% | 151% | 159% |
| Bmk +ve Days | 9 | 20 | 31 | 70 | 142 | 431 |
| Stock +ve Days | 13 | 23 | 29 | 62 | 131 | 385 |
| Down Capture | -201% | -91% | -10% | 95% | 113% | 104% |
| Bmk -ve Days | 12 | 21 | 30 | 54 | 109 | 320 |
| Stock -ve Days | 8 | 18 | 32 | 61 | 118 | 352 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GTES | |
|---|---|---|---|---|
| GTES | 22.1% | 40.0% | 0.60 | - |
| Sector ETF (XLI) | 30.3% | 19.2% | 1.25 | 73.0% |
| Equity (SPY) | 19.6% | 19.1% | 0.81 | 68.3% |
| Gold (GLD) | 77.6% | 26.1% | 2.18 | 6.1% |
| Commodities (DBC) | 20.2% | 17.2% | 0.92 | 20.5% |
| Real Estate (VNQ) | 6.1% | 16.4% | 0.19 | 57.5% |
| Bitcoin (BTCUSD) | -24.3% | 45.7% | -0.47 | 29.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GTES | |
|---|---|---|---|---|
| GTES | 9.5% | 33.7% | 0.34 | - |
| Sector ETF (XLI) | 14.7% | 17.2% | 0.68 | 66.7% |
| Equity (SPY) | 13.4% | 17.0% | 0.62 | 60.8% |
| Gold (GLD) | 24.0% | 17.2% | 1.14 | 9.2% |
| Commodities (DBC) | 11.8% | 19.0% | 0.50 | 17.6% |
| Real Estate (VNQ) | 5.3% | 18.8% | 0.18 | 47.3% |
| Bitcoin (BTCUSD) | 7.1% | 56.8% | 0.35 | 19.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GTES | |
|---|---|---|---|---|
| GTES | 2.8% | 40.2% | 0.22 | - |
| Sector ETF (XLI) | 14.6% | 19.8% | 0.65 | 63.7% |
| Equity (SPY) | 15.2% | 17.9% | 0.73 | 57.2% |
| Gold (GLD) | 14.9% | 15.6% | 0.79 | 1.2% |
| Commodities (DBC) | 8.9% | 17.6% | 0.42 | 24.9% |
| Real Estate (VNQ) | 6.2% | 20.7% | 0.26 | 47.4% |
| Bitcoin (BTCUSD) | 65.7% | 66.8% | 1.05 | 14.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/12/2026 | 3.8% | 4.8% | |
| 10/29/2025 | -12.9% | -16.8% | -13.1% |
| 7/30/2025 | 1.3% | -2.2% | 4.9% |
| 4/30/2025 | 5.2% | 11.8% | 18.9% |
| 2/6/2025 | 11.8% | 6.8% | -4.5% |
| 10/30/2024 | 5.7% | 10.8% | 21.1% |
| 7/31/2024 | 4.9% | -8.3% | 0.3% |
| 5/1/2024 | -6.8% | -6.6% | -1.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 11 | 11 |
| # Negative | 8 | 10 | 9 |
| Median Positive | 3.8% | 6.9% | 4.9% |
| Median Negative | -4.1% | -7.4% | -7.0% |
| Max Positive | 11.8% | 11.8% | 34.2% |
| Max Negative | -12.9% | -16.8% | -13.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/12/2026 | 10-K |
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/30/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/06/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 02/08/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/09/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/04/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Montgomery, Gwendolyn Ann | Chief Human Resources Officer | Direct | Sell | 12012025 | 22.60 | 40,996 | 926,510 | 1,239,926 | Form |
| 2 | Montgomery, Gwendolyn Ann | Chief Human Resources Officer | Direct | Sell | 11182025 | 21.64 | 2,338 | 50,594 | 2,074,410 | Form |
| 3 | Mallard, Lawrence B | Chief Financial Officer | Direct | Sell | 11132025 | 22.77 | 22,188 | 505,221 | 4,044,567 | Form |
| 4 | Eliasson, Fredrik J | Direct | Buy | 3112025 | 19.56 | 60,000 | 1,173,600 | 3,686,121 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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