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Donaldson Co Inc DCI

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Morningstar’s Analysis

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Donaldson Posts Strong Fiscal Q1 Results and Raises Full-Year Fiscal 2022 Guidance; Increasing FVE

Analyst Note

| Krzysztof Smalec, CFA |

Narrow-moat-rated Donaldson posted solid fiscal first-quarter results, with strong revenue growth in both segments. Despite ongoing supply-chain constraints and cost inflation, management raised its full-year fiscal 2022 outlook and anticipates operating leverage due to sales growth to help offset gross margin pressure. We’ve raised our fair value estimate for Donaldson to $57 from $55, based on the firm’s solid results and our more optimistic near-term projections. We view shares as fairly valued at current levels.

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Company Profile

Business Description

Donaldson is a leading manufacturer of filtration systems and replacement parts (including air filtration systems, liquid filtration systems, and dust, fume, and mist collectors). The company serves a diverse range of end markets, including construction, mining, agriculture, truck, and industrial. Its business is organized into two segments: engine products and industrial products. Donaldson generated approximately $2.9 billion in revenue and $385 million in operating income in its fiscal 2021.

Contact
1400 West 94th Street
Minneapolis, MN, 55431
T +1 952 887-3131
Sector Industrials
Industry Specialty Industrial Machinery
Most Recent Earnings Jul 31, 2021
Fiscal Year End Jul 30, 2022
Stock Type Cyclical
Employees 13,100