GTES
Gates Industrial Corporation plc
GTES's fundamentals are mixed: earnings per share grew 55%, while its operating margin held steady at 14%. At 18x earnings, it's trading below its usual 20x. Analysts expect strong earnings growth.
GTES Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Healthy | |
| Stable |
GTES's profitability and cash flow are currently healthy, and its revenue and balance sheet are stable.
GTES PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 13x | $25.35 | — |
| Cheap | 15x | $20.85 | -18% |
| Current | 18x | $25.35 | — |
| Fair | 20x | $28.21 | +11% |
| Expensive | 31x | $44.49 | +76% |
Historical ranges are pointers, not guarantees.
GTES's PE is in its fair range at 18x. If earnings grow as analysts expect, today's price would be 13x next year's earnings, in its cheap range.
GTES Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for GTES, with profitability improving.
GTES Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.89 | +32% |
| Q3 2026 | $1.43 | +55% |
| Q2 2026 | $1.40 | +77% |
| Q1 2026 | $0.95 | +14% |
| Q4 2025 | $0.96 | +30% |
| Q3 2025 | $0.92 | +12% |
| Q2 2025 | $0.79 | -15% |
| Q1 2025 | $0.83 | -7.8% |
| Q4 2024 | $0.74 | -12% |
GTES's earnings per share have fallen from their peak: $1.43 over the past year, against $2.34 in late 2019.
GTES Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $903.6M | +5.6% |
| Q2 2026 | $941.6M | +6.6% |
| Q1 2026 | $851.1M | +0.4% |
| Q4 2025 | $856.2M | +3.2% |
| Q3 2025 | $855.7M | +3% |
| Q2 2025 | $883.7M | -0.2% |
| Q1 2025 | $847.6M | -1.7% |
| Q4 2024 | $829.4M | -3.9% |
GTES's revenue grew through 2021 and has held roughly level since: $904M last quarter, up 5.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | +1 points |
| Q2 2026 | 14% | +0.9 points |
| Q1 2026 | 13% | -1.8 points |
| Q4 2025 | 13% | -0.9 points |
| Q3 2025 | 13% | -0.1 points |
| Q2 2025 | 13% | -2.3 points |
| Q1 2025 | 15% | +1.2 points |
| Q4 2024 | 14% | -0.3 points |
GTES's operating margin was 15% last quarter, up 1 points from the same quarter a year ago.
GTES Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $42.4M | -47% |
| Q2 2026 | $60.3M | -28% |
| Q1 2026 | $13.5M | +$23.7M |
| Q4 2025 | $251M | +50% |
| Q3 2025 | $80.5M | -14% |
| Q2 2025 | $83.6M | +16% |
| Q1 2025 | -$10.2M | +$26.8M |
| Q4 2024 | $167.6M | -0.1% |
GTES generated $367M in free cash flow over the past year, up 14% from the year before.
GTES Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -552K shares |
| 1 year | -2.3% | -6M shares |
| 3 years | -4.6% | -12.3M shares |
| 5 years | -15% | -44.1M shares |
| Available history | -12% | -36M shares |
GTES has 256M diluted shares, down 2.3% from a year ago, with $202M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $57.4M |
| Q2 2026 | $22.1M |
| Q1 2026 | $16.6M |
| Q4 2025 | $106.3M |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $13M |
| Q4 2024 | — |
GTES spent $202M buying back its own shares over the past year, more than ten times what it spent the year before.
GTES Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.0x | Healthy |
| Q2 2026 | 2.1x | Moderate |
| Q1 2026 | 2.2x | Moderate |
| Q4 2025 | 2.1x | Moderate |
| Q3 2025 | 2.3x | Moderate |
| Q2 2025 | 2.4x | Moderate |
| Q1 2025 | 2.4x | Moderate |
| Q4 2024 | 2.4x | Moderate |
GTES's net debt is about 2.0 years of its operating earnings (EBITDA), down from 2.3 years a year ago.
GTES Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.1 | Neutral |
| Stochastic | 20.0 | Neutral |
GTES's weekly RSI is 48 (neutral) and its Stochastic is 20 (neutral).
GTES PE vs Industrials Sector
| Metric | GTES | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 24x | 26% below |
| PE % | 35 | 58 | 23 pts below |
GTES is trading at 18x earnings, a 26% discount to the Industrials sector's median of 24x.
GTES Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $25.7 | 1.2% below |
| 20 week MA | $26.3 | 3.5% below |
| 50 week MA | $25.2 | 0.6% above |
| 100 week MA | $23.7 | 7.1% above |
| 200 week MA | $19.3 | 31% above |
GTES has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 31% above its 200-week average.
GTES Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $13.7 | $13.1 | -4.5% |
| 2021 | $13.1 | $15.4 | +18% |
| 2022 | $15.4 | $11.2 | -28% |
| 2023 | $11.2 | $13.4 | +20% |
| 2024 | $13.4 | $20.7 | +54% |
| 2025 | $20.7 | $22.0 | +6.3% |
| 2026 YTD | $22.0 | $25.4 | +15% |
GTES has finished higher in four of the last six years. It's up 15% so far in 2026.