Detailed financial statements for Park-Ohio Holdings Corp. (PKOH): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Park-Ohio Holdings Corp. is a global, diversified industrial company that delivers specialized supply chain management solutions, sophisticated capital equipment, and precision-manufactured components. Its operations span across the United States, Europe, Asia, Mexico, Canada, and other international territories. The company's activities are organized into three primary segments: Supply Technologies, Assembly Components, and Engineered Products.
Analysis Summary
Park-Ohio Holdings Corp. reported revenue of $1.60B in the most recent fiscal year, growing at a 5-year CAGR of 6.8%.
Trailing-twelve-month margins: gross margin 17.3%, operating margin 5.2%, net margin 1.6%. Free cash flow grew at -52.9% CAGR over 5 years.
At the current price of $45.07, PKOH trades at a P/E of 22.88 and an ROE of 7.15%. Market capitalisation stands at $649M.
Balance sheet quality for PKOH: current ratio of 2.3, net debt of $625.5M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Cash flow quality is below average: free cash flow of $1.0M represents 4% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.28B | $1.41B | $1.66B | $1.62B | $1.15B | $1.28B | $1.49B | $1.66B | $1.66B | $1.60B |
| Cost of Revenue | $1.07B | $1.18B | $1.39B | $1.36B | $986.8M | $1.10B | $1.28B | $1.39B | $1.37B | $1.33B |
| Gross Profit | $203.0M | $234.6M | $271.5M | $260.3M | $165.3M | $177.9M | $210.5M | $271.4M | $281.4M | $271.2M |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | $129.8M | $147.7M | $176.1M | $177.2M | $140.2M | $155.9M | $162.2M | $181.5M | $187.4M | $189.6M |
| Operating Expenses | $129.8M | $147.7M | $176.1M | $177.2M | $146.8M | $161.6M | $177.1M | $187.3M | $194.8M | $189.6M |
| Operating Income | $69.2M | $90.2M | $97.3M | $83.1M | $18.5M | $16.3M | $33.4M | $84.1M | $86.6M | $81.6M |
| EBITDA | $102.7M | $110.7M | $142.4M | $122.9M | $54.0M | $56.8M | $74.7M | $118.3M | $125.4M | $104.3M |
| Interest Expense | $28.2M | $31.5M | $34.3M | $33.8M | $27.6M | $27.1M | $33.8M | $45.1M | $47.4M | $47.5M |
| Pre-tax Income | $41.0M | $47.7M | $71.8M | $54.9M | -$1.8M | -$1.1M | $10.7M | $41.5M | $44.4M | $23.8M |
| Income Tax | $8.8M | $18.2M | $16.6M | $15.2M | -$1.3M | -$1.0M | -$700000 | $8.5M | $4.9M | $2.8M |
| Net Income | $31.7M | $28.6M | $53.6M | $38.6M | -$4.5M | -$24.8M | -$14.2M | $7.8M | $31.8M | $24.8M |
| EPS | $2.62 | $2.34 | $4.37 | $3.16 | $-0.40 | $-2.12 | $-1.16 | $0.63 | $3.27 | $1.72 |
| EPS (Diluted) | $2.58 | $2.30 | $4.29 | $3.12 | $-0.40 | $-2.12 | $-1.16 | $0.62 | $3.19 | $1.70 |
| Shares Outstanding (Diluted) | $12.3M | $12.5M | $12.5M | $12.4M | $12.1M | $12.3M | $12.2M | $12.5M | $13.2M | $14.0M |
Income Statement (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Revenue | $398.6M | $395.0M | $421.0M | $440.1M |
| Gross Profit | $66.6M | $68.3M | $72.7M | $78.9M |
| Operating Income | $20.1M | $20.2M | $21.0M | $24.5M |
| EBITDA | $25.3M | $19.9M | $30.1M | $35.1M |
| Net Income | $5.5M | $1.5M | $8.2M | $12.1M |
| EPS | $0.40 | $0.11 | $0.59 | $0.87 |
| EPS (Diluted) | $0.39 | $0.07 | $0.58 | $0.86 |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $64.3M | $82.8M | $55.7M | $56.0M | $55.0M | $54.1M | $58.2M | $54.8M | $53.1M | $44.8M |
| Short-term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Receivables | $194.4M | $287.1M | $330.7M | $323.0M | $305.0M | $278.6M | $271.3M | $263.3M | $249.5M | $265.0M |
| Inventory | $240.6M | $282.8M | $317.8M | $327.2M | $310.9M | $352.4M | $406.5M | $411.1M | $422.9M | $420.9M |
| Total Current Assets | $552.7M | $669.6M | $720.6M | $725.7M | $706.4M | $775.5M | $932.4M | $824.4M | $836.0M | $852.5M |
| Property, Plant & Equipment | $167.1M | $177.0M | $219.4M | $301.9M | $305.2M | $235.6M | $235.8M | $229.6M | $223.2M | $239.7M |
| Goodwill | $86.6M | $100.2M | $103.4M | $108.4M | $110.9M | $106.0M | $108.9M | $110.2M | $111.7M | $115.8M |
| Intangible Assets | $96.6M | $99.5M | $95.3M | $90.6M | $86.8M | $81.7M | $78.7M | $73.3M | $71.9M | $69.2M |
| Total Assets | $974.3M | $1.13B | $1.21B | $1.31B | $1.30B | $1.36B | $1.44B | $1.34B | $1.37B | $1.42B |
| Accounts Payable | $133.6M | $173.7M | $177.8M | $175.0M | $166.7M | $178.3M | $221.0M | $204.0M | $194.8M | $199.8M |
| Short-term Debt | $30.8M | $17.7M | $17.9M | $9.8M | $4.5M | $6.3M | $10.9M | $9.4M | $8.4M | $8.3M |
| Total Current Liabilities | $241.9M | $276.1M | $298.9M | $305.0M | $307.1M | $349.0M | $448.6M | $363.6M | $361.1M | $366.6M |
| Long-term Debt | $439.0M | $515.5M | $547.5M | $535.0M | $506.2M | $586.9M | $655.1M | $633.4M | $618.3M | $607.3M |
| Total Liabilities | $738.3M | $844.5M | $895.9M | $960.8M | $942.6M | $1.04B | $1.17B | $1.05B | $1.03B | $1.04B |
| Retained Earnings | $193.6M | $216.1M | $265.9M | $298.2M | $290.5M | $259.4M | $238.8M | $240.1M | $265.2M | $281.8M |
| Total Equity | $226.0M | $276.0M | $299.0M | $335.6M | $344.2M | $314.1M | $256.5M | $280.4M | $330.8M | $382.8M |
| Total Debt | $469.8M | $533.2M | $565.4M | $627.5M | $599.0M | $649.7M | $720.9M | $687.8M | $667.2M | $670.3M |
| Net Debt | $405.5M | $450.4M | $509.7M | $571.5M | $544.0M | $595.6M | $662.7M | $633.0M | $614.1M | $625.5M |
| Working Capital | $310.8M | $393.5M | $421.7M | $420.7M | $399.3M | $426.5M | $483.8M | $460.8M | $474.9M | $485.9M |
Balance Sheet (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Cash & Equivalents | $50.8M | $44.8M | $46.7M | $48.3M |
| Total Assets | $1.44B | $1.42B | $1.44B | $1.47B |
| Total Liabilities | $1.06B | $1.04B | $1.06B | $1.08B |
| Total Equity | $374.8M | $382.8M | $379.4M | $391.1M |
| Total Debt | $709.9M | $670.3M | $691.3M | $704.0M |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $32.2M | $29.5M | $55.2M | $39.7M | -$4.8M | $1.1M | -$14.2M | $33.0M | $31.8M | $24.8M |
| Depreciation & Amortization | $29.5M | $31.5M | $36.3M | $34.2M | $35.8M | $30.8M | $30.2M | $31.7M | $33.6M | $33.0M |
| Stock-based Compensation | $10.6M | $8.6M | $8.3M | $4.1M | $6.1M | 0 | $7.2M | $6.5M | $5.6M | 0 |
| Change in Working Capital | -$6.2M | -$36.4M | -$44.0M | -$15.7M | $26.0M | -$28.9M | -$97.8M | -$9.8M | -$23.9M | -$14.2M |
| Operating Cash Flow | $72.9M | $46.7M | $54.8M | $63.7M | $69.3M | -$43.3M | -$27.6M | $50.5M | $29.8M | $41.3M |
| Capital Expenditure | -$28.5M | -$27.9M | -$45.1M | -$40.1M | -$26.3M | -$22.3M | -$26.9M | -$28.2M | -$31.4M | -$40.3M |
| Acquisitions | -$23.4M | -$39.7M | -$46.9M | -$8.1M | $1.4M | $14.9M | -$23.3M | -$1.2M | -$11.0M | 0 |
| Stock Repurchased | -$1.9M | -$4.2M | -$9.0M | -$900000 | -$7.5M | -$2.5M | -$1.6M | 0 | -$2.6M | 0 |
| Dividends Paid | -$6.2M | -$6.9M | -$6.4M | -$7.0M | -$3.2M | -$7.0M | -$6.4M | -$7.4M | -$6.7M | -$7.8M |
| Free Cash Flow | $44.4M | $18.8M | $9.7M | $23.6M | $43.0M | -$65.6M | -$54.5M | $22.3M | -$1.6M | $1.0M |
Cash Flow (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Operating Cash Flow | $17.1M | $48.2M | -$7.9M | $9.2M |
| Capital Expenditure | -$10.7M | -$12.7M | -$12.5M | -$11.0M |
| Free Cash Flow | $6.4M | $35.5M | -$20.4M | -$1.8M |
| Dividends Paid | -$2.4M | -$1.8M | -$1.8M | -$1.8M |
| Stock-based Compensation | 0 | 0 | 0 | $1.4M |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | +10.7% | +17.4% | -2.4% | -28.8% | +10.8% | +16.9% | +11.2% | -0.2% | -3.4% | |
| Net Income Growth (YoY) | -9.8% | +87.4% | -28.0% | -111.7% | -451.1% | +42.7% | +154.9% | +307.7% | -22.0% | |
| EPS Growth (YoY) | -10.7% | +86.8% | -27.7% | -112.7% | -430.0% | +45.3% | +154.3% | +419.0% | -47.4% | |
| Shares Change (YoY) | +1.6% | +0.1% | -1.0% | -2.6% | +1.7% | -0.6% | +2.6% | +5.8% | +5.7% | |
| FCF Growth (YoY) | -57.7% | -48.4% | +143.3% | +82.2% | -252.6% | +16.9% | +140.9% | -107.2% | +162.5% | |
| Gross Margin | 15.9% | 16.6% | 16.4% | 16.1% | 14.3% | 13.9% | 14.1% | 16.4% | 17.0% | 17.0% |
| Operating Margin | 5.4% | 6.4% | 5.9% | 5.1% | 1.6% | 1.3% | 2.2% | 5.1% | 5.2% | 5.1% |
| EBITDA Margin | 8.0% | 7.8% | 8.6% | 7.6% | 4.7% | 4.4% | 5.0% | 7.1% | 7.6% | 6.5% |
| Net Margin | 2.5% | 2.0% | 3.2% | 2.4% | -0.4% | -1.9% | -1.0% | 0.5% | 1.9% | 1.6% |
| FCF Margin | 3.5% | 1.3% | 0.6% | 1.5% | 3.7% | -5.1% | -3.7% | 1.3% | -0.1% | 0.1% |
| Effective Tax Rate | 21.5% | 38.2% | 23.1% | 27.7% | 72.2% | 90.9% | -6.5% | 20.5% | 11.0% | 11.8% |
Per-Share Data (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $3.61 | $1.50 | $0.78 | $1.91 | $3.57 | $-5.35 | $-4.47 | $1.78 | $-0.12 | $0.07 |
| Dividends Per Share | $0.50 | $0.55 | $0.51 | $0.57 | $0.27 | $0.57 | $0.52 | $0.59 | $0.51 | $0.56 |
| Shares Outstanding (Basic) | $12.1M | $12.2M | $12.3M | $12.2M | $12.1M | $12.3M | $12.2M | $12.3M | $12.9M | $13.8M |
What to look at in Industrials
Aerospace, defence, machinery, transport. Semi-cyclical. Key: backlog, operating margins, and FCF conversion.
- 5y revenue growth — Without growth, there is no long-term value creation
- Operating margin — The best indicator of operational discipline in industrials
- ROIC — Quality industrials have ROIC >15% — the rest destroy capital
- FCF conversion — FCF / Net Income — in industrials good >85%
- Net debt / EBITDA — Cyclical industrials with high debt suffer hard in recessions
- Capex / Revenue — Maintaining the machinery. <4% = possible underinvestment (future decline)
- Altman Z-Score — Bankruptcy model (NYU 1968) — combines liquidity, leverage and profitability. Key in cyclicals
Profitability
| Return on Equity | 7.15% |
| Return on Invested Capital | 6.82% |
| Return on Assets | 1.86% |
| Gross Margin | 17.31% |
| Operating Margin | 5.19% |
| Net Margin | 1.65% |
Financial Health
| Debt / Equity | 1.80 |
| Current Ratio | 2.40 |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 16.26 | 19.64 | 7.02 | 10.65 | -77.25 | -9.99 | -10.54 | 42.79 | 8.03 | 12.17 |
| P/B | 2.28 | 2.03 | 1.26 | 1.23 | 1.08 | 0.83 | 0.58 | 1.18 | 1.02 | 0.75 |
| P/S | 0.40 | 0.40 | 0.23 | 0.25 | 0.32 | 0.20 | 0.10 | 0.20 | 0.20 | 0.18 |
| Gross Margin | 15.9% | 16.6% | 16.4% | 16.1% | 14.3% | 13.9% | 14.1% | 16.4% | 17.0% | 17.0% |
| Operating Margin | 5.4% | 6.4% | 5.9% | 5.1% | 1.6% | 1.3% | 2.2% | 5.1% | 5.2% | 5.1% |
| Net Margin | 2.5% | 2.0% | 3.2% | 2.4% | -0.4% | -1.9% | -1.0% | 0.5% | 1.9% | 1.6% |
Related companies: BNC · FSTR · LXFR · MG · NL · NPWR · OFLX
Explore sector: Industrials · Industrial - Machinery
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