EMR · 10-K · 2026A · Full report

Liquidity and Debt Position

EMERSON ELECTRIC CO · 2026-11-09 · Importance 76 · Surprise 56 · Contradicted

At September 30, 2026, Emerson reported total debt of $7.687 billion, down from $13.116 billion in 2025, and common stockholders’ equity of $21.636 billion. The debt-to-total-capital ratio declined to 26.2% from 39.3% in 2025, while the operating-cash-flow-to-debt ratio increased to 43.2% from 28.0%. Emerson entered into a $2 billion 364-day revolving backup facility in February 2026, in addition to its $3.5 billion five-year facility, and had no borrowings under the facilities.

Key facts

• On February 10, 2026, Emerson entered into a $2 billion, 364-day revolving backup credit facility to support commercial paper borrowings; it replaced the $3 billion facility that expired by its terms. source
• Emerson's total debt was $7,687 million at September 30, 2026, down from $13,116 million in 2025; the company used part of its 2026 cash flows to reduce net debt. source
• At September 30, 2026, Emerson had total assets of $42 billion and stockholders' equity of $21 billion. source
• Emerson also maintains a $3.5 billion five-year revolving backup credit facility entered into in February 2023 and had no borrowings under the credit facilities. source
• In March 2025, Emerson issued €500 million of 3.0% notes due March 2031, $500 million of 5.0% notes due March 2035, and €500 million of 3.5% notes due March 2037. source
• As of September 30, 2026, Emerson's U.S. pension plans were overfunded by $886, approximately 33 percent in excess of the projected benefit obligation, including unfunded plans totaling $145. source
• Emerson's cash flows were expected to be sufficient for at least the next 12 months to meet operating requirements and other operational liquidity needs. source
• As of September 30, 2026, Emerson's non-U.S. pension plans were underfunded by $38, including unfunded plans totaling $235. source

Impact estimates