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AI核心结论
IR (Ingersoll Rand) delivered Q1 FY2026 revenue of $1.85B (+7.6% YoY) and net income of $192.1M (+3.0% YoY), but margin compression and a 22.1% decline in operating cash flow signal rising cost pressures.
营业收入
$1.85B
同比 ++7.60%
每股收益（基本）
$0.49
同比 ++6.52%
毛利率
42.9%
同比 -1.69%
营业利润
$289.7M
同比 -4.23%
提交于 · 解读更新于 · 来源: SEC EDGAR 10-Q 原文
Ingersoll Rand (IR) Q1 FY2026 营收 $1.85B，同比增长 7.6%。 净利润 $192.1M，同比增长 3.0%，稀释每股收益 $0.49。 毛利率 42.9%。
Revenue grew 7.6% YoY to $1.85B in Q1 FY2026, up from $1.72B in the prior-year period, indicating continued demand for IR's industrial products and services despite a challenging macro environment.
来源: Source: 10-Q Income Statement, Q1 FY2026
Gross margin declined approximately 1.7 percentage points YoY to 42.9%, as cost of revenue rose 10.9% YoY to $1.05B — outpacing revenue growth of 7.6% — reflecting input cost inflation and/or unfavorable product mix.
来源: Source: 10-Q Income Statement & Key Ratios, Q1 FY2026
Operating income fell 4.2% YoY to $289.7M, with operating margin contracting ~1.9 percentage points to 15.7%, driven by higher SG&A expenses (+5.9% YoY to $370.7M) and elevated cost of revenue.
来源: Source: 10-Q Income Statement, Q1 FY2026
Operating cash flow dropped 22.1% YoY to $199.7M from $256.4M, while cash and equivalents fell 21.0% YoY to $1.27B, suggesting working capital headwinds or timing differences in collections and payments.
来源: Source: 10-Q Cash Flow Statement, Q1 FY2026
Share repurchases surged to $89.5M in Q1 FY2026 from just $10.0M in the prior-year period (+795% YoY), reflecting management's confidence in the business and commitment to returning capital to shareholders.
来源: Source: 10-Q Cash Flow Statement, Q1 FY2026
Cost of revenue grew 10.9% YoY, significantly outpacing revenue growth of 7.6%, compressing gross margin by ~1.7 percentage points to 42.9%. If input cost pressures persist, profitability could deteriorate further in subsequent quarters.
来源: Source: 10-Q Income Statement & Key Ratios, Q1 FY2026
Operating cash flow fell 22.1% YoY to $199.7M, a substantial decline relative to net income of $192.1M, suggesting potential working capital build-up or unfavorable timing of cash receipts. Sustained weakness in cash generation could limit financial flexibility.
来源: Source: 10-Q Cash Flow Statement, Q1 FY2026
Total liabilities increased 2.0% YoY to $7.98B while stockholders' equity declined 3.0% YoY to $10.18B, pushing the debt-to-equity ratio to 0.78. A continued erosion of equity could increase financial risk over time.
来源: Source: 10-Q Balance Sheet, Q1 FY2026
SG&A expenses rose 5.9% YoY to $370.7M, contributing to the 4.2% decline in operating income despite top-line growth. If SG&A growth continues to outpace revenue, operating leverage will remain elusive.
来源: Source: 10-Q Income Statement, Q1 FY2026
Cash and equivalents declined 21.0% YoY to $1.27B, partly driven by a near-ninefold increase in share buybacks to $89.5M and ongoing capital expenditures. While investing cash outflows improved YoY, the overall liquidity reduction warrants monitoring.
来源: Source: 10-Q Balance Sheet & Cash Flow Statement, Q1 FY2026
Q1 FY2026 实际 EPS $0.77，分析师一致预期 $0.76，超预期 +1.0%。
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
营业收入 | $1.85B | $1.72B | +7.60% |
营业成本 | $1.05B | $951.3M | +10.88% |
毛利润 | $792.4M | $765.5M | +3.51% |
营业利润 | $289.7M | $302.5M | -4.23% |
净利润 | $192.1M | $186.5M | +3.00% |
每股收益（基本） | $0.49 | $0.46 | +6.52% |
每股收益（稀释） | $0.49 | $0.46 | +6.52% |
销售及管理费用 | $370.7M | $350M | +5.91% |
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
总资产 | $18.22B | $18.38B | -0.88% |
流动资产 | $4.29B | $4.35B | -1.42% |
总负债 | $7.98B | $7.83B | +1.95% |
流动负债 | $1.93B | $1.83B | +5.44% |
股东权益 | $10.18B | $10.48B | -2.95% |
现金及等价物 | $1.27B | $1.61B | -20.98% |
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
经营活动现金流 | $199.7M | $256.4M | -22.11% |
投资活动现金流 | $-84.4M | $-197.1M | +57.18% |
筹资活动现金流 | $-83.8M | $-10M | -738.00% |
股票回购 | $89.5M | $10M | +795.00% |
折旧及摊销 | $136.9M | $120M | +14.08% |
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
毛利率 | 42.9% | 44.6% | -1.69% |
营业利润率 | 15.7% | 17.6% | -1.94% |
净利率 | 10.4% | — | — |
净资产收益率 | 1.9% | — | — |
总资产收益率 | 1.1% | — | — |
流动比率 | $2.227 | — | — |
资产负债率 | $0.784 | — | — |
预计发布日期、分析师预期与关注要点
Industrial Machinery & Supplies & Components 行业其他公司
IR reported Q1 FY2026 revenue of $1.85B, up 7.6% YoY, and net income of $192.1M, up 3.0% YoY. However, operating income declined 4.2% to $289.7M due to rising costs, and operating cash flow fell 22.1% to $199.7M.
The key takeaways are that revenue growth of 7.6% was solid, but cost of revenue grew faster at 10.9%, compressing gross margin by ~1.7 percentage points to 42.9%. Operating cash flow also dropped sharply by 22.1% YoY, while share buybacks surged nearly 9x to $89.5M.
IR's margins declined in Q1 FY2026: gross margin fell ~1.7 percentage points YoY to 42.9%, and operating margin contracted ~1.9 percentage points to 15.7%. The primary driver was cost of revenue growing at 10.9% YoY, outpacing revenue growth of 7.6%.
Based on the financial data, key risks include margin compression from cost inflation, a 22.1% decline in operating cash flow suggesting working capital pressures, and a 21.0% drop in cash and equivalents to $1.27B partly driven by accelerated share buybacks of $89.5M.
IR maintains a healthy current ratio of 2.23 and a moderate debt-to-equity ratio of 0.78, indicating adequate liquidity and manageable leverage. However, the decline in cash to $1.27B (-21.0% YoY) and weaker operating cash flow of $199.7M (-22.1% YoY) are areas to watch closely.