olivLaw · US equity research
Gates Industrial Corporation Ltd. GTES
General Industrial Machinery & Equipment · SIC 3560 · Vertical: General Industrial Machinery & Equipment (SIC 3560)
Gates Industrial makes highly engineered belt drives and hydraulic hoses, sold mostly through the aftermarket, which steadies its revenue across different economic cycles. In the first half of 2026 it grew sales and raised its full-year guidance as industrial demand firmed. The detailed figures are in the profile below.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Gates Industrial Corporation Ltd. (GTES) stock was 24.46 USD (−0.45% on the day), with market capitalisation 6.1 bn USD, P/E 17.0 on diluted EPS of 1.44 USD over the last 12 months, beta 1.60, 52-week range 21.04–29.84 USD. Latest reported quarter (Q3 2026): revenue of 903.6 m USD (+5.6% YoY), net income of 86.5 m USD (+6.0% YoY), diluted EPS 0.34 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 40.7
- weak (30–45)
- Bollinger (20, 2)
- 23.95 – 27.34
- in the lower half of the band · %B 0.15 · band width 13.2%
- SMA 50 / 200
- 25.96 / 25.77
- mixed trend
- MACD (12, 26, 9)
- -0.50 / -0.32
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −12.0% | −1.1% | −10.9 pp | — |
| 3 months | −16.5% | −0.5% | −16.1 pp | — |
| 6 months | −6.8% | +4.4% | −11.2 pp | — |
| Year to date | +13.9% | +12.3% | +1.6 pp | — |
| 1 year | +13.9% | +13.5% | +0.3 pp | +19.3% |
| 3 years | +110.3% | +76.4% | +33.9 pp | +46.8% |
| 5 years | +34.6% | +63.7% | −29.1 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 26 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 829.4 m | 847.6 m | 883.7 m | 855.7 m | 856.2 m | 851.1 m | 941.6 m | 903.6 m |
| Cost of revenue | 494.1 m | 503.0 m | 523.5 m | 514.1 m | 530.9 m | 513.1 m | 555.5 m | 520.3 m |
| Gross profit | 335.3 m | 344.6 m | 360.2 m | 341.6 m | 325.3 m | 338.0 m | 386.1 m | 383.3 m |
| SG&A | 223.0 m | 216.2 m | 231.2 m | 219.2 m | 209.5 m | 226.9 m | 250.7 m | 247.4 m |
| Operating income | 109.7 m | 125.8 m | 115.8 m | 115.4 m | 108.3 m | 109.9 m | 131.6 m | 131.3 m |
| Depreciation & amortisation | 54.1 m | 52.2 m | 53.3 m | 53.6 m | 54.7 m | 55.7 m | 57.1 m | 56.4 m |
| Interest expense | 34.1 m | 29.6 m | 28.8 m | 34.9 m | 32.6 m | 29.9 m | 30.0 m | 30.5 m |
| Pre-tax income | 87.9 m | 93.8 m | 80.2 m | 94.8 m | 71.4 m | 77.9 m | 100.2 m | 108.3 m |
| Income tax | 46.7 m | 25.2 m | 16.8 m | 6.1 m | 15.0 m | 11.5 m | -78.0 m | 16.7 m |
| Net income | 36.6 m | 62.0 m | 56.5 m | 81.6 m | 51.3 m | 59.7 m | 170.9 m | 86.5 m |
| Diluted EPS | 0.14 ≈ | 0.24 | 0.22 | 0.31 | 0.20 ≈ | 0.23 | 0.67 | 0.34 |
| Operating cash flow | 190.9 m | 7.3 m | 103.0 m ≈ | 98.0 m ≈ | 269.8 m | 30.2 m | 78.6 m ≈ | 61.2 m ≈ |
| Capex | 23.3 m | 17.5 m | 19.4 m ≈ | 17.5 m ≈ | 18.8 m | 16.7 m | 18.3 m ≈ | 18.8 m ≈ |
| Share repurchases | 0 | 13.0 m | 0 ≈ | 0 ≈ | 106.3 m | 16.6 m | 22.1 m ≈ | 57.4 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 40 percentile of its own 25-quarter history (min 3.9, median 18.7, max 61.2; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 3.3 bn | 3.1 bn | 2.8 bn | 3.6 bn | 3.6 bn | 3.4 bn | 3.4 bn |
| Revenue YoY | unavailable | −7.8% | unavailable | +27.3% | +0.5% | −4.5% | +1.0% |
| Net income | 245.3 m | 690.1 m | 79.4 m | 220.8 m | 232.9 m | 194.9 m | 251.4 m |
| Net income YoY | unavailable | +181.3% | unavailable | +178.1% | +5.5% | −16.3% | +29.0% |
| Diluted EPS | 0.84 | 2.37 | 0.27 | 0.77 | 0.84 | 0.74 | 0.96 |
| Diluted EPS YoY | unavailable | +182.1% | unavailable | +185.2% | +9.1% | −11.9% | +29.7% |
| net % | 7.3% | 22.4% | 2.8% | 6.2% | 6.5% | 5.7% | 7.3% |
| Free cash flow | 147.4 m | 276.8 m | 250.8 m | 188.2 m | 419.8 m | 296.5 m | 404.9 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 812.1 m USD
- Financial debt
- 2.2 bn USD
- Net debt
- 1.4 bn USD
- Equity
- 3.7 bn USD
- Total assets
- 7.2 bn USD
- Debt / equity
- 0.61x
- Current ratio
- 3.37x
- ROE
- 7.2%
- ROA
- 3.6%
- FCF margin
- 11.8%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 3.1 bn | 2.8 bn | 3.6 bn | 3.6 bn | 3.4 bn | 3.4 bn | SEC (XBRL)· 12 Feb 2026verified |
| Cost of revenue | 1.9 bn | 1.8 bn | 2.3 bn | 2.2 bn | 2.0 bn | 2.1 bn | SEC (XBRL)· 12 Feb 2026verified |
| Gross profit | 1.1 bn | 1.0 bn | 1.3 bn | 1.4 bn | 1.4 bn | 1.4 bn | SEC (XBRL)· 12 Feb 2026verified |
| Research & development | 67.9 m | 67.2 m | 69.4 m | 66.0 m | 66.5 m | 71.9 m | SEC (XBRL)· 12 Feb 2026verified |
| SG&A | 777.3 m | 776.9 m | 853.7 m | 884.7 m | 876.5 m | 876.1 m | SEC (XBRL)· 12 Feb 2026verified |
| Operating income | 346.8 m | 211.1 m | 384.0 m | 460.1 m | 472.2 m | 465.3 m | SEC (XBRL)· 12 Feb 2026verified |
| Depreciation & amortisation | 222.2 m | 218.6 m | 217.2 m | 217.5 m | 216.9 m | 213.8 m | SEC (XBRL)· 12 Feb 2026verified |
| EBITDA | 569.0 m ≈ | 429.7 m ≈ | 601.2 m ≈ | 677.6 m ≈ | 689.1 m ≈ | 679.1 m ≈ | SEC (XBRL)· 12 Feb 2026derived |
| Interest expense | 157.8 m | 154.3 m | 139.4 m | 163.2 m | 155.8 m | 125.9 m | SEC (XBRL)· 12 Feb 2026verified |
| Pre-tax income | 198.8 m | 71.0 m | 257.8 m | 285.3 m | 328.0 m | 340.2 m | SEC (XBRL)· 12 Feb 2026verified |
| Income tax | -495.9 m | -19.3 m | 14.9 m | 28.3 m | 107.5 m | 63.1 m | SEC (XBRL)· 12 Feb 2026verified |
| Net income | 690.1 m | 79.4 m | 220.8 m | 232.9 m | 194.9 m | 251.4 m | SEC (XBRL)· 12 Feb 2026verified |
| Diluted EPS | 2.37 | 0.27 | 0.77 | 0.84 | 0.74 | 0.96 | SEC (XBRL)· 12 Feb 2026verified |
| Weighted average diluted shares | 291.6 m | 292.1 m | 287.6 m | 275.6 m | 264.7 m | 260.5 m | SEC (XBRL)· 12 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 635.3 m | 521.4 m | 578.4 m | 720.6 m | 682.0 m | 812.1 m | SEC (XBRL)· 12 Feb 2026verified |
| Receivables | 694.7 m | 695.0 m | 808.6 m | 768.2 m | 722.7 m | 744.2 m | SEC (XBRL)· 12 Feb 2026verified |
| Inventories | 475.1 m | 508.2 m | 656.2 m | 647.2 m | 676.0 m | 700.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Current assets | 2.0 bn | 1.9 bn | 2.3 bn | 2.4 bn | 2.3 bn | 2.5 bn | SEC (XBRL)· 12 Feb 2026verified |
| Goodwill | 2.1 bn | 2.1 bn | 2.0 bn | 2.0 bn | 1.9 bn | 2.0 bn | SEC (XBRL)· 12 Feb 2026verified |
| Intangibles (excl. goodwill) | 1.9 bn | 1.8 bn | 1.5 bn | 1.4 bn | 1.2 bn | 1.2 bn | SEC (XBRL)· 12 Feb 2026verified |
| Total assets | 7.4 bn | 7.4 bn | 7.2 bn | 7.3 bn | 6.8 bn | 7.2 bn | SEC (XBRL)· 12 Feb 2026verified |
| Short-term debt | 46.1 m | 42.7 m | 36.6 m | 36.5 m | 39.1 m | 36.2 m | SEC (XBRL)· 12 Feb 2026verified |
| Long-term debt | 2.9 bn | 2.7 bn | 2.4 bn | 2.4 bn | 2.3 bn | 2.2 bn | SEC (XBRL)· 12 Feb 2026verified |
| Current liabilities | 658.1 m | 726.3 m | 752.3 m | 779.3 m | 721.5 m | 735.4 m | SEC (XBRL)· 12 Feb 2026verified |
| Total liabilities | 4.4 bn | 4.2 bn | 3.7 bn | 3.7 bn | 3.4 bn | 3.5 bn | SEC (XBRL)· 12 Feb 2026verified |
| Equity | 3.0 bn | 3.2 bn | 3.4 bn | 3.5 bn | 3.3 bn | 3.7 bn | SEC (XBRL)· 12 Feb 2026verified |
Cash flow · USD
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 348.9 m | 309.0 m | 265.8 m | 481.0 m | 379.6 m | 478.1 m | SEC (XBRL)· 12 Feb 2026verified |
| Capex | 72.1 m | 58.2 m | 77.6 m | 61.2 m | 83.1 m | 73.2 m | SEC (XBRL)· 12 Feb 2026verified |
| Free cash flow | 276.8 m ≈ | 250.8 m ≈ | 188.2 m ≈ | 419.8 m ≈ | 296.5 m ≈ | 404.9 m ≈ | SEC (XBRL)· 12 Feb 2026derived |
| Investing cash flow | -78.0 m | -77.5 m | -90.7 m | -81.8 m | -104.4 m | -119.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Financing cash flow | -59.3 m | -353.8 m | -253.1 m | -258.3 m | -286.7 m | -251.1 m | SEC (XBRL)· 12 Feb 2026verified |
| Share repurchases | 0 | 0 | 175.9 m | 251.7 m | 176.1 m | 119.3 m | SEC (XBRL)· 12 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 51 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 6.1 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet60
- Growth25
- Quality48
- Returns47
- Valuation62
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 19.55 – 64.30 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)19.55 – 36.07 (Mid 25.64)WACC 8.2% · starting FCFF 470.5 m USD · terminal value share of EV 76%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): -2.7%
- Peers: EV/EBITDA35.26 – 64.30 (Mid 38.86)3 companies used · median multiple 15.8x · quartiles 14.5x – 24.9xGHM, IR, ZBRA
- Peers: P/E34.96 – 38.42 (Mid 37.73)6 companies used · median multiple 26.2x · quartiles 24.3x – 26.7xEFXT, IR, ITW, TWIN, ZBRA, ZWS
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 51/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 7.6% | 17 (vs peers) | 11% |
| Net margin · Quality | 10.4% | 50 (vs peers) | 7% |
| FCF conversion · Quality | 99.7% | 100 (on a fixed band) | 7% |
| Revenue CAGR 3Y · Growth | -1.1% | 0 (on a fixed band) | 9% |
| EPS CAGR 3Y · Growth | 7.6% | 51 (on a fixed band) | 9% |
| Net debt / EBITDA · Balance sheet | 2.0x | 58 (on a fixed band) | 11% |
| Interest coverage · Balance sheet | 3.9x | 37 (on a fixed band) | 7% |
| Current ratio · Balance sheet | 3.4x | 100 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 17.0x | 75 (vs peers) | 11% |
| EV/EBITDA · Valuation | 10.7x | 39 (on a fixed band) | 11% |
| FCF yield · Valuation | 6.0% | 75 (on a fixed band) | 9% |
| Shareholder yield (distributions) · Returns | 3.3% | 47 (on a fixed band) | 7% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet60/100 · 3/3 factors with a value
- Growth25/100 · 2/2 factors with a value
- Quality48/100 · 3/3 factors with a value
- Returns· partial47/100 · 1/2 factors with a value
- Valuation62/100 · 3/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Gates Industrial Corporation Ltd. (GTES). Latest full fiscal year: 2025; data up to 2026-09-26.
Figures computed from the financial statements: revenue 3.4 bn USD in 2025; YoY growth 1.0%; net margin 10.4%; ROE 10.6%; net debt/EBITDA 2.0x.
The estimated value range is 34.96–38.42 USD per share (median of 3 methods, agreement: medium); assumptions are illustrative. Against the central value of 37.73 USD, the price of 24.46 USD leaves a potential of 54.2% (value / price − 1) and a margin of safety of 35.2% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 51/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 99.7%
- Current ratio: 3.4x
- P/E (TTM): 17.0x
- FCF yield: 6.0%
- The price is below the estimated value range
What contradicts it
- ROIC: 7.6%
- Revenue CAGR 3Y: -1.1%
Not assessed (insufficient data or a ratio without meaning): Payout ratio (FCF).
Versus the vertical median
General Industrial Machinery & Equipment (SIC 3560) · same industry (4-digit SIC) · compared with 8 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ITWIllinois Tool Works Inc | 83.4 bn | 26.1 | 101.7% | 19.4% | +0.9% | +18% / +21% |
| IRIngersoll Rand Inc. | 32.3 bn | 23.7 | 13.4% | 17.2% | +5.7% | +5% / +18% |
| ZBRAZebra Technologies Corporation | 15.7 bn | 26.8 | 16.5% | 9.8% | +8.3% | +32% / +40% |
| ZWSZurn Elkay Water Solutions Corporation | 7.5 bn | 26.3 | 17.7% | 15.9% | +8.3% | −5% / +53% |
| GTESGates Industrial Corporation Ltd. | 6.1 bn | 17.0 | 10.6% | 10.4% | +1.0% | +14% / +110% |
| EFXTEnerflex Ltd | 2.5 bn | 39.3 | 6.0% | 2.5% | +6.5% | +46% / +377% |
| GHMGraham Corporation | 816.0 m | 67.1 | 7.5% | 4.5% | +16.9% | +21% / +275% |
| TWINTwin Disc, Incorporated | 370.7 m | 11.9 | 16.3% | 8.0% | +11.9% | +64% / +86% |
| GTECGreenland Technologies Holding Corporation | 10.7 m | 0.9 | 16.0% | 12.3% | +8.0% | −51% / −79% |
1- and 3-year price returns: for GTES from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 13.92 Total return -43% · Per year -43% | 24.69 Total return 1% · Per year 1% | 37.28 Total return 52% · Per year 52% |
| 3 years | 12.05 Total return -51% · Per year -21% | 24.17 Total return -1% · Per year -0% | 40.28 Total return 65% · Per year 18% |
| 5 years | 10.42 Total return -57% · Per year -16% | 23.67 Total return -3% · Per year -1% | 43.53 Total return 78% · Per year 12% |
- Exit P/E± 6.04
- Net margin± 4.23
- Annual revenue growth± 3.67
- Annual dilution± 0.36
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 31 Jul 2026; since then the company filed 8-K (30 Oct 2026 · results), 10-Q (30 Oct 2026).
In brief
Gates Industrial makes highly engineered belt drives and hydraulic hoses, sold mostly through the aftermarket, which steadies its revenue across different economic cycles. In the first half of 2026 it grew sales and raised its full-year guidance as industrial demand firmed. The detailed figures are in the profile below 123.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- U.S. trade policyhigh
Tariffs and trade measures are hard to anticipate, and the company may not be able to pass all the costs on to customers 1.
- International exposuremedium
Most sales come from outside the United States, where political, currency and regulatory risks are higher 1.
- Raw material costsmedium
Swings in the prices of energy and metals could reduce margins if they are not offset 1.
- Reliance on distributorsmedium
Changes in relationships with distribution partners or in their inventory levels can quickly affect sales 1.
- Operational continuitylow
A natural disaster, system outage or plant disruption could affect production and customers 1.
Investment thesis
What would need to be true (bull case)
What to watch
- Development of tariffs and IEEPA refundsQ3 2026
- Delivery against updated guidance for core sales and adjusted EBITDA2026
- Adjusted EBITDA margin of the Fluid Power segmentQ3 2026
- Progress in data centre and personal mobility salesnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 31 Jul 2026; since then the company filed 8-K (30 Oct 2026 · results), 10-Q (30 Oct 2026).
The business
Gates Industrial is a global manufacturer of highly engineered power transmission and fluid power solutions, headquartered in the United States. It reported net sales of 3443.2 million USD in fiscal 2025 1, and most of its revenue comes from the aftermarket channel, where products are replaced periodically through wear. The Gates brand, founded in 1911, is recognised as a premium name for quality and innovation 1.
The business is organised into two reporting segments. Power Transmission covers belts, chains and metal drive components used in industrial machinery, car engines and personal mobility vehicles, and represented about 62% of fiscal 2025 sales 1. Fluid Power covers high-pressure hoses, tubing and fittings, and in 2025 the company extended its range for data centre liquid cooling 1.
Net sales for the first half of 2026 reached 1792.7 million USD 2, and in the second quarter they rose 6.6% year on year, with core sales up 4.9% 3. Management raised its 2026 guidance, citing improving industrial demand 3.
Market context
The company's demand depends more on the utilisation of industrial equipment than on any single end market, thanks to its diversification across segments and channels. Aftermarket sales accounted for about 68% of fiscal 2025 net sales 1, which cushions periods when new equipment production slows. OEM sales made up the remaining 32% 1.
International activity is important: about 63% of fiscal 2025 net sales came from outside the United States 1. The company says it sees growth opportunities in personal mobility and data centres, although these areas remain small within total revenue 23.
Trends
- Recovery in industrial demandtailwind
Management says it has seen improving orders globally and that it could benefit if industrial demand keeps strengthening 3. If the recovery holds, OEM channel revenue could grow.
- Tariffs and international trademixed
U.S. tariffs and retaliatory measures have raised costs and created uncertainty in supply chains 2. The company has filed claims for refunds of IEEPA-based tariffs paid, and the final effect remains to be seen 2.
- Growth in data centre and personal mobility marketstailwind
Sales in the personal mobility end market grew strongly in the first half of 2026, and data centre cooling products are being developed 2. If these directions expand, they could complement the traditional aftermarket business.
- Raw material and inflation costsheadwind
Prices of energy, steel, aluminium and polymers have fluctuated and could affect margins if they cannot be passed on to customers 1. In the second quarter of 2026 the company reported added inflation and tariff costs 2.
Competitive position
The supplied sources do not name competitors, so the competitive analysis is limited to what the company says about its own position. Gates says it is an industry leader across most of its end markets and that its premium brand supports its pricing 1. The company notes that some distributors also sell rival products, which can shift volumes quickly 1.
Competition also appears through pricing and distribution access: the company acknowledges that if these partners favour rival products, sales could decline 1. Its advantage could depend on innovation and application engineering services, which management highlights in its filings 1.
- Belt and hose manufacturers in Europe and Asia
Not named in the sources; the company only notes that distributors can sell rival products 1.
- Mobile hydraulic component suppliers
Competitors in mobile hydraulics, not named in the supplied sources 1.
- Automotive aftermarket parts producers
Competitors in the automotive aftermarket channel, not named in the supplied sources 1.
- Data centre cooling solution providers
Competitors in the emerging liquid cooling market, not named in the supplied sources 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
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- Burnham revives hopes UK’s crumbling parliament will get a fixPolitico EU · 04 Nov 2026 · EN
- Finding the fingerprints of noisy distributions in random quantum systemsPhys.org · 03 Nov 2026 · EN
- How Russia is locating Ukraine's arms factories using open sources – and what needs to be done about itUkrainska Pravda (UA, EN) · 03 Nov 2026 · EN
- Clashes Near Kyiv: What Happened at National Guard Site?Kyiv Post · 03 Nov 2026 · EN
- ⚡ ⚡ 🇺🇦 A 14-year-old boy was reportedly found in a state of shock inside a Natio…Telegram — Intel Slava Z (pro-RU OSINT EN) · 03 Nov 2026 · EN
- Crisis over top court shapes Poland’s battle lines before 2027 electionPolitico EU · 03 Nov 2026 · EN
- Dozens gather outside a private house near Kyiv saying soldiers are being held and beaten there. National Guard says the building was used to house newly mobilized troops.Meduza English (independent RU/exile) · 02 Nov 2026 · EN
- Some “coherence arguments” are two different things in a trenchcoatLessWrong · 02 Nov 2026 · EN
- Some “coherence arguments” are two different things in a trenchcoatAI Alignment Forum · 02 Nov 2026 · EN
- Women travel thousands of miles for a reproductive moonshot. Scientists say they’ve been misledSTAT News · 02 Nov 2026 · EN
- Global, regional and national burden of cervical cancer in 1990–2023 with forecasts to 2050: a Global Burden of Disease studyNature Medicine · 02 Nov 2026 · EN
- Maternal mental health liveability shaped by composite residential environmental profilesNature Cities · 02 Nov 2026 · EN
- Centuries-Old Traditions of All Saints’ and All Souls’ DaysHungary Today (HU, EN) · 01 Nov 2026 · EN
SEC filings
- Quarterly report30 Oct 2026
- Current report30 Oct 2026Results of operations · Financial statements and exhibits
- Quarterly report31 Jul 2026
- Current report31 Jul 2026Results of operations · Financial statements and exhibits
- Current report16 Jul 2026Other events
- Current report25 Jun 2026Shareholder vote · Regulation FD disclosure · Other events · Financial statements and exhibits
- Current report10 Jun 2026Shareholder vote
- Proxy statement27 May 2026
- Quarterly report01 May 2026
- Current report01 May 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Gates Industrial Corporation Ltd. · 12 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-27 · SEC / Gates Industrial Corporation Ltd. · 31 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Gates Industrial Corporation Ltd. · 31 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.