At a glance
Emerson Electric Company is worth $92.57B, about 41 times its fiscal 2025 earnings. Revenue grew 3.0% to $18.02B in fiscal 2025, with 12.7% kept as profit; over 4 years it has grown 8.6% a year. It pays a 1.35% dividend yield, raised every year for at least 9 years, and returned $10.63B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +20.8% over the past year with dividends reinvested and +12.9% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 47.2% in the 2020 crash (S&P 500: 33.7%) and 25.3% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 5 months and 3 months after the lows.
The business in plain English
Emerson Electric, incorporated in Missouri in 1890, makes the equipment and software that run factories and processing plants. Its customers include process industries that work with continuous flows of liquids and gases, such as chemicals and energy; hybrid industries such as life sciences, mining, and food and beverage; and discrete manufacturers, which build separate items such as cars, medical devices and semiconductors. Most products reach customers through Emerson's own sales force, with help from independent sales representatives and distributors.
In fiscal 2025, ended September 30, 2025, revenue was about $18.0 billion. The Intelligent Devices group brought in about $12.4 billion, roughly 69%. It makes Fisher control valves, Rosemount and Micro Motion instruments that measure pressure, flow and temperature, ASCO and Aventics factory automation parts, and RIDGID and Greenlee pipe and electrical tools. The Software and Control group brought in about $5.7 billion, roughly 32%. It includes DeltaV and Ovation control systems, which read plant sensors and adjust valves, pumps and motors, plus AspenTech's optimization software and the former National Instruments' test and measurement systems.
Sales went 51% to the Americas, 30% to Asia, the Middle East and Africa (China alone 10%) and 19% to Europe. Emerson has refocused on automation, exiting its InSinkErator disposer and Climate Technologies (now Copeland) businesses and taking full ownership of AspenTech in March 2025.
Price history
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EMR +20.8% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Intelligent Devices | $12.40B | 68.8% |
| Software & Control | $5.69B | 31.6% |
Latest results
- In Q3 FY2026 (ended Jun 30, 2026), revenue was $4.87B, up 7% from a year earlier, and net income was $718.0M (+22.5%).
- For fiscal 2025, revenue was $18.02B (+3.0% year over year; +8.6% a year from FY2021 to FY2025) with a 12.7% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2025) | +8.6% good |
|---|---|
| Free cash flow margin | 14.8% good |
| Return on equity (FY2025) | 11.3% watch |
| Return on assets (FY2025) | 5.5% watch |
| Net cash (cash minus debt) | $-10.93B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $16.79B | $1.97B | $2.54B |
| FY2021 | $12.93B | $2.30B | $3.17B |
| FY2022 | $13.80B | $3.23B | $2.62B |
| FY2023 | $15.16B | $13.22B | $274.0M |
| FY2024 | $17.49B | $1.97B | $2.91B |
| FY2025 | $18.02B | $2.29B | $2.67B |
Valuation snapshot
| Market value | $92.57B |
|---|---|
| P/E ratio | 41.1 |
| Dividend yield | 1.35% |
Rank among 1514 US companies
Market value at each year end
Emerson Electric’s market value went from $35.83B at the end of 2016 to $92.57B on Nov 2, 2026, about 2.6 times as much; since the end of 2025 it is up 24%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $92.57B | +24.1% |
| 2025 | $74.59B | +6.7% |
| 2024 | $69.88B | +25.9% |
| 2023 | $55.49B | -2.3% |
| 2022 | $56.81B | +2.9% |
| 2021 | $55.22B | +14.9% |
| 2020 | $48.06B | +3.5% |
| 2019 | $46.45B | +24.2% |
| 2018 | $37.41B | -16.4% |
| 2017 | $44.73B | +24.8% |
| 2016 | $35.83B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| EMR price data to Nov 2, 2026 | +26.5% | +20.8% | +24.3% | +12.9% | +15.5% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +26.5% |
| 2025 | +8.9% |
| 2024 | +29.8% |
| 2023 | +3.8% |
| 2022 | +5.8% |
| 2021 | +18.2% |
| 2020 | +8.6% |
| 2019 | +31.6% |
| 2018 | -11.9% |
| 2017 | +29.1% |
| 2016 | +21.0% |
| 2015 | -19.7% |
| 2014 | -9.6% |
| 2013 | +36.1% |
| 2012 | +17.4% |
| 2011 | -16.2% |
| 2010 | +37.9% |
| 2009 | +20.8% |
| 2008 | -33.6% |
| 2007 | +31.4% |
| 2006 | +20.7% |
| 2005 | +9.2% |
| 2004 | +11.1% |
| 2003 | +31.3% |
| 2002 | -8.3% |
| 2001 | -25.7% |
| 2000 | +40.7% |
| 1999 | -3.1% |
| 1998 | +9.3% |
| 1997 | +18.5% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 52.6% over that stretch · deepest drop along the way 56.1%, back to its old high 19.4 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 47% over that stretch · deepest drop along the way 47.2%, back to its old high 4.7 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 14% over that stretch · deepest drop along the way 25.3%, back to its old high 2.5 months after the low |
Insider activity
Form 4 filings from 2025-10-27 to 2026-10-27 (25 read): 0 open-market purchases and 8 sales ($6.9M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Jun 1, 2026 | Ram R. Krishnan Executive Vice Pres & COO | sell | $1.6M |
| Aug 11, 2026 | Surendralal Lanca Karsanbhai President & CEO, Director | sell | $1.6M |
| Aug 6, 2026 | Michael H. Train SVP & Chief Sustain Officer | sell | $1.2M |
| Feb 9, 2026 | Nicholas J. Piazza Senior VP & CPO | sell | $1.1M |
| Mar 10, 2026 | Surendralal Lanca Karsanbhai President & CEO, Director | sell | $811K |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 7.5% | Mar 31, 2026 |
ETFs with the most weight in EMR
| MAKX ProShares S&P Kensho Smart Factories ETF | 6.55% |
| GGTL Gabelli Global Technology Leaders ETF | 5.38% |
| IBOT Vaneck Robotics ETF | 4.43% |
| BDVG IMGP Berkshire Dividend Growth ETF | 2.82% |
| PAVE Global X US Infrastructure Development ETF | 2.79% |
| TGLR LAFFER TENGLER Equity Income ETF | 2.77% |
| BULD Pacer BlueStar Engineering the Future ETF | 2.74% |
| ABLD Abacus FCF Real Assets Leaders ETF | 2.59% |
What could go wrong
- Big acquisitions may not pay off. Emerson spent about $7.2 billion on the rest of AspenTech and acquired National Instruments at an $8.2 billion equity value. If integration stumbles, or regulators block future deals, the expected benefits may not arrive.
- Failures in critical plant systems. Emerson's valves, instruments and control software run chemical plants, power plants and other sensitive sites. A major defect or cyberattack involving these products could hurt its reputation and finances.
- Falling behind on new technology. Emerson must keep up with shifts such as artificial intelligence and the move toward hydrogen, battery storage, carbon capture and advanced nuclear power. Misjudging these trends could waste research spending and cost market share.
- Factories abroad bring policy and currency risk. A majority of Emerson's factories are outside the US, exposing it to disruptions, government policy changes and currency swings. China alone made up 10% of fiscal 2025 sales.
- Customers cut spending in downturns. Sales depend on manufacturers' spending on plants and equipment. In a recession, or a slump in industries such as chemicals, energy, autos or semiconductors, customers can delay projects and cut orders.
- Debt load and access to credit. Emerson says access to borrowing is essential to its plans. It had about $13.1 billion of debt and $2.2 billion of cash and investments as of June 30, 2026. Tighter credit could raise its interest costs.
Recent events
- Quarterly results released
- Quarterly results released
- Quarterly results released; Executive or board change; Investor presentation or announcement
- Major agreement signed; New debt or financial obligation
- Shareholder vote results
- Quarterly results released
- Quarterly results released
- Executive or board change
- Quarterly results released; Other company announcement
For income and retirement investors
Emerson's dividend per share rose every fiscal year from FY2016 to FY2025, at least 9 increases in a row and possibly more. The raises have been small: $2.00 a share in fiscal 2020 became $2.11 in fiscal 2025, about 1.1% a year. In fiscal 2025 the dividend took 52% of earnings and about 45% of free cash flow, the cash left after operating costs and equipment spending. The yield was 1.34% as of October 28, 2026. From FY2021 to FY2025 Emerson paid about $6.0 billion in dividends and spent about $4.6 billion repurchasing shares; the share count fell 6.2% between October 2021 and June 2026.
In past downturns the stock fell hard: 56.1% in the 2008 financial crisis, needing about 19 months after the low to recover, and 47.2% in the 2020 COVID crash, recovering in under five months. It dropped 25.3% in the 2022 bear market. A single stock carries more risk than a diversified fund.
Questions investors ask
How does Emerson Electric make money?
Emerson makes money by providing automation equipment and software to manufacturers and plant operators. In fiscal 2025, which ended September 30, 2025, revenue was about $18.0 billion. About $12.4 billion came from Intelligent Devices, such as Fisher valves, Rosemount instruments and RIDGID tools. About $5.7 billion came from Software and Control, including DeltaV control systems, AspenTech software and test equipment from the former National Instruments. Its backlog of signed orders not yet delivered was $8.6 billion at September 30, 2025.
Does Emerson raise its dividend every year?
Yes. Emerson's dividend per share rose in every fiscal year from FY2016 to FY2025, at least 9 increases in a row, and the streak may be longer. The raises have been small, about 1.1% a year from fiscal 2020 to fiscal 2025, when the dividend reached $2.11 a share. That payout equaled 52% of fiscal 2025 earnings. The dividend yield, or annual dividend divided by share price, was 1.34% as of October 28, 2026.
What happened to Emerson's Climate Technologies business?
Emerson sold it in two steps, part of its plan to build a higher-growth, higher-margin automation business. On May 31, 2023, it sold a majority stake in Climate Technologies, now called Copeland, to Blackstone-managed funds in a $14.0 billion deal, receiving about $9.7 billion in pre-tax cash plus a $2.25 billion note, a type of IOU. In August 2024 it sold its remaining 40% stake for $1.5 billion and the note to Copeland for $1.9 billion. It also sold InSinkErator to Whirlpool for $3.0 billion in October 2022.
How much debt does Emerson have?
Emerson had about $13.1 billion of total debt as of June 30, 2026, against about $2.2 billion of cash and investments, so net debt (debt minus cash) was roughly $10.9 billion. Shareholders' equity stood at about $20.4 billion. For scale, Emerson generated about $2.7 billion of free cash flow, the cash left after capital spending, in fiscal 2025. Its annual report says access to capital markets is essential to its plans, and it reported a new debt obligation in a February 2026 filing.
How has Emerson stock performed over the long run?
Emerson's shares have gained over the long run, with sharp swings along the way. As of October 28, 2026, the price-based return was 26.7% over one year, 13.7% a year over five years and 15.6% a year over ten years. The stock fell 56.1% during the 2008 financial crisis, and its largest drop in the three years to October 28, 2026 was 29.6%. A one-year beta of 1.5 means it moved about 1.5 times as much as the broad market.