Ingersoll Rand Inc

Ingersoll Rand (formerly Gardner Denver Holdings) makes machines that move, compress and control air, gas, liquids and powders. Its core products are compressors, vacuum pumps, blowers and specialty pumps, sold under more than 90 brands, including Ingersoll Rand and Gardner Denver. Customers range from factories and food producers to water treatment plants, energy companies and life sciences firms. The equipment is typically a small part of a larger system's cost. Downtime is expensive, though, so customers place a high value on reliability and service.

Revenue was $7.65 billion in 2025. New equipment brought in 63.5% of it. The other 36.5% came from the aftermarket, meaning spare parts, consumables and repair services for machines already installed. Aftermarket sales tend to repeat. A compressor lasts 10 to 12 years on average and needs regular servicing. The company says the parts and service it sells over a compressor's life typically add up to more than the machine's original price.

The larger segment, Industrial Technologies and Services, produced 79.2% of 2025 revenue from compressors, vacuum pumps, blowers, power tools and lifting equipment. Precision and Science Technologies (20.8%) makes specialized pumps under brands such as Milton Roy, ARO and Seepex. It also makes single-use powder and liquid handling systems for life sciences under the ILC Dover brand. By region, 41.7% of revenue came from the US, 34% from Europe, the Middle East, India and Africa, and 10.3% from China.

• In Q3 FY2026 (ended Sep 30, 2026), revenue was $2.06B, up 5.6% from a year earlier, and net income was $669.9M (+174.4%).
• For fiscal 2025, revenue was $7.65B (+5.7% year over year; +14.0% a year from FY2020 to FY2025) with a 7.6% net margin.

• Over FY2021–FY2025: $2.54B in buybacks and $137.1M in dividends.
• Regular dividends per share grew +42.0% a year over 4 years (FY2021–FY2025).
• Dividends took 5.5% of earnings and 2.6% of free cash flow in the latest fiscal year.
• Shares outstanding changed -5.8% from Oct 29, 2021 to Oct 23, 2026.

Rank among 1514 US companies

Market value at each year end

Ingersoll Rand’s market value went from $13.30B at the end of 2017 to $31.77B on Nov 2, 2026, about 2.4 times as much; since the end of 2025 it is up 1%.

Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 1 open-market purchases ($1.0M) and 2 sales ($13.8M), 2 of them under pre-arranged 10b5-1 trading plans.

Large shareholders (13G filings)

ETFs with the most weight in IR

1. Growth relies heavily on acquisitions. The company keeps acquiring businesses, such as SSI Aeration and TMIC/Adicomp in 2025. Integration can go wrong, and goodwill (the premium paid for acquisitions) is a big share of its assets and could be written down.
2. Most sales come from outside the US. In 2025, 58% of revenue came from customers outside the United States. That brings currency swings, trade restrictions and political risk, especially in China, where it has significant operations, suppliers and cash.
3. Tariffs and material costs can squeeze profits. Changes in US tariff policy, and tariffs other countries impose in response, remain uncertain. Sharp rises in raw material and component prices, or reliance on particular suppliers, could also hurt profits.
4. Sales depend on the industrial cycle. Its compressors, pumps and vacuum products are sold into many industries whose spending rises and falls with the economy. A weaker global economy, or customers struggling to get credit, could reduce orders and profits.
5. Debt is much larger than cash. As of June 30, 2026, total debt was about $4.8 billion against $1.2 billion of cash and investments. Paying interest and repaying that debt uses cash, and the company could still borrow more.
6. Fixed-price custom projects can overrun. For some custom-engineered products, the company agrees to a price up front. Cost overruns, delays, penalties or damages owed to customers could then eat into profits on those contracts.

• Oct 30, 2026 Executive or board change; Investor presentation or announcement
• Oct 29, 2026 Quarterly results released
• Jul 30, 2026 Quarterly results released
• Jun 16, 2026 Executive or board change; Shareholder vote results
• Apr 28, 2026 Quarterly results released
• Feb 12, 2026 Quarterly results released
• Dec 17, 2025 Executive or board change; Investor presentation or announcement

Ingersoll Rand pays a token dividend. Dividends per share were about $0.08 in each fiscal year from 2022 through 2025, essentially unchanged, and the yield was 0.11% as of October 28, 2026. In 2025, dividends used 5.5% of earnings and 2.6% of free cash flow (the cash left after running the business and investing in equipment). The company returns cash mainly by repurchasing its own shares. It spent $2.54 billion on buybacks over fiscal years 2021–2025, including $1.02 billion in 2025, against $137 million in dividends. Shares outstanding fell 4.8% between October 2021 and July 2026. For an income investor, returns depend almost entirely on the share price.

The shares have fallen hard in downturns. They dropped 49% in the 2020 COVID crash and recovered about six months after the low. In the 2022 bear market they fell 34% and took about 10.6 months to recover. The stock's trading history does not go back to the 2008 financial crisis. Single stocks carry more risk than diversified funds.