Donaldson Co Inc
DCI: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$27.00 | Cvlzyn | Yylrydfq |
Donaldson Earnings: Thesis Remains Intact as the Company Enters Fiscal 2024
Narrow-moat-rated Donaldson reported full-year fiscal 2023 earnings slightly below our expectations as ongoing softness in the disk drive market affected growth. Nonetheless, the company still generated full-year sales and earnings per share growth of 4% and 9%, respectively, as Donaldson benefited from strength in other end markets as well as favorable pricing and input cost stabilization. As a result, we are raising our fair value estimate to $63 from $59 due to accelerating revenue growth as well as the time value of money.