EMR · 10-K · 2026A · Full report

Operating Cash Flow Trends

EMERSON ELECTRIC CO · 2026-11-09 · Importance 49 · Surprise 32 · No source text

Operating cash flow from continuing operations increased 8% to $3.978 billion in fiscal 2026, reflecting higher earnings partly offset by increased operating working capital. Operating working capital rose to 11.9% of sales from 11.3% in 2025 and 8.0% in 2024, including an increase in inventory. Free cash flow from continuing operations increased 9% to $3.535 billion in 2026; capital expenditures were 2.3% of sales, compared with 2.4% in each of the two prior years.

Key facts

• Emerson expects fiscal 2027 operating cash flow of $4.3 to $4.4 billion and free cash flow of $3.8 to $3.9 billion, excluding projected capital spending of approximately $0.5 billion. source
• Emerson generated $4.0 billion of operating cash flow from continuing operations in fiscal 2026, up $302 million, or 8%, reflecting higher earnings partly offset by increased operating working capital. source
• Emerson's fiscal 2026 free cash flow from continuing operations was $3,535 million, up 9% from 2025. source
• Emerson's annual pension mark-to-market adjustment is not allocated to reportable segments and has no impact on total cash flows, plan funded status, funding requirements, or benefits payable to participants. source

Impact estimates