Feed / GTES

Gates Industrial Corporation Ltd.

GTES

Industrials · 25.63 -2.6% today

Isolated · not yet confirmedMarket checked 10 Sept, 15:55 GMT-4

Market read

Gates Industrial Corporation Ltd.'s current read is isolated; its market group is not confirming.

The latest filing is mixed. 0 of 25 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.

What changed
  • Revenue increased 0.4% versus the comparable filing period.
  • Operating margin fell 1.9 percentage points.
Company-2.6% todayVolume comparison unavailable
Market group0 of 25 activeIndustrial Infrastructure · unavailable
Disclosed network0 of 1 confirmingNo filing-linked name is confirming now
What would change this read
  • Fluid Power Adjusted EBITDA declined 7.4% (driven primarily by lower volumes) for the three months ended March 28, 2026.

Invalidation: The isolated read changes if GTES's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Industrials · Specialty Industrial Machinery

The latest filing is mixed. 0 of 25 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.

Evidence that supports
  • Revenue increased 0.4% versus the comparable filing period.
Evidence that challenges
  • Operating margin fell 1.9 percentage points.
  • Gross margin fell 0.9 percentage points.
What would clarify the read
  • Fluid Power Adjusted EBITDA declined 7.4% (driven primarily by lower volumes) for the three months ended March 28, 2026.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods8
Price observations327
Usable filing statements102
Verified relationships4
Evidence supporting the case
  • Net margin changed +1.6 percentage points in the latest annual period.
Evidence challenging the case
  • Foreign exchange has repeated adverse evidence across 5 filings.
  • Demand and volume has repeated adverse evidence across 4 filings.
Questions before a position
  • P/E is 45% below the available filing-peer median; determine whether growth and quality justify the difference.
  • EV/sales is 47% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 10, 2026

25.63
6m+7.4%12m+1.8%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2022-01-01$3.5B+24.4%$1.00+1.8%
2022-12-31$3.6B+2.3%$0.77-3.3%
2023-12-30$3.6B+0.5%$0.84-4.2%
2024-12-28$3.4B-4.5%$0.74-4.0%
2025-12-31$3.4B+1.0%$0.96-1.6%

What management says matters

Persistent and emerging business drivers

Capital investment and capacitymixed · 5 filings
The decrease of cash used in investing activities was primarily driven by decreased capital expenditures of $15.4 million, and a $5.3 million decrease in net cash paid under company-owned life insurance policies, partially offset by $0.6 million fewer proceed…
10-Q · Jul 31, 2026
Credit and interest ratesmixed · 5 filings
Interest expense increased by $1.2 million and $1.5 million during the three and six months ended June 27, 2026, respectively, when compared to the equivalent prior year period, primarily due to a less favorable impact from derivatives, partially offset by lo…
10-Q · Jul 31, 2026
Foreign exchangenegative · 5 filings
Our net sales for the six months ended June 27, 2026 were favorably impacted by movements in average currency exchange rates of $14.2 million.
10-Q · Jul 31, 2026
Demand and volumenegative · 4 filings
36 Fluid Power Adjusted EBITDA for the six months ended June 27, 2026 decreased by 3.4%, or $5.0 million, compared to the prior year period, driven primarily by lower volumes and inflationary impacts, partially offset by benefits from pricing.
10-Q · Jul 31, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 1.9× · EV/sales 2.3×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

25.63-2.6% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for GTES. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Latest filing assessment · baseline

The latest filing presents a mixed picture

10-Q filed 2026-05-01 against the comparable filing from 2025-04-30.

mixed
OperationsmixedEvidence score 0
liquidityneutralEvidence score 0
valuationmixed

What improved

  • Revenue increased 0.4% versus the comparable filing period.

What weakened

  • Operating margin fell 1.9 percentage points.
  • Gross margin fell 0.9 percentage points.

Filing receipts

Analysis by Operating Segment Power Transmission (62.6% of Gates’ net sales for the three months ended March 28, 2026) Three months ended (dollars in millions) March 28, 2026 March 29, 2025 Period over period change Net sales $ 533.2 $ 527.2 1.1 % Adjusted EBITDA $ 112.0 $ 116.7 (4.0 %) Adjusted EBITDA margin 21.0 % 22.1 % Net sales in Power Transmission for the three months ended March 28, 2026, increased by 1.1%, or $6.0 million, compared to the prior year period, driven primarily by benefits from pricing of $11.3 million, partially offset by lower volumes.

The decrease of cash used in investing activities was primarily driven by decreased capital expenditures of $4.7 million, partially offset by a $0.4 million increase in net cash paid under company-owned life insurance policies, and $0.7 million fewer proceeds from the sale of property, plant and equipment.

Fluid Power Adjusted EBITDA for the three months ended March 28, 2026 decreased by 7.4%, or $5.2 million, compared to the prior year period, driven primarily by lower volumes, partially offset by benefits from pricing.

Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.

Business ecosystem

The relationships behind GTES

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

AMGAffiliated Managers Group, Inc.partnerFeb 12, 2026

Purchases of Equity Securities by the Issuer and Affiliated Purchasers None.

Filing peers

No filing peers are available for this name yet.

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What is moving around it

Live connections

GTES is currently a Follower in the organic co-movement group Industrial Infrastructure. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.