Parker-Hannifin (PH) 10-K Summary — Year Ended Jun 30, 2023
Parker-Hannifin Corporation reported a significant increase in net sales for the latest fiscal year, driven by higher volume across both segments and contributions from recent acquisitions. The company's operating cash flow remained strong, supporting its financial position.
Key takeaway
Year ended Jun 30, 2023 · FY2025 10-K
Parker-Hannifin Corporation reported a significant increase in net sales for the latest fiscal year, driven by higher volume across both segments and contributions from recent acquisitions. The company's operating cash flow remained strong, supporting its financial position.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$19.1B
Revenue reported for the fiscal year.
Operating income
$3.4B
Income from operations reported for the year.
Net income
$2.1B
Net income reported for the year.
Operating cash flow
$3B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2021 | $14.3B | n/a |
| Jun 30, 2022 | $15.9B | +10.6% |
| Jun 30, 2023 | $19.1B | +20.2% |
Business overview
The company operates through two segments: Diversified Industrial and Aerospace Systems. Its business involves manufacturing motion and control technologies for various industrial and aerospace applications.
Financial performance
Net sales increased from the prior year, with higher volume in both segments and a significant boost from acquisitions, partially offset by unfavorable currency effects and divestitures. Gross profit margin improved slightly, while net income attributable to common shareholders rose notably.
Material risks
The filing identifies risks including currency exchange rate fluctuations, which reduced net sales, and the integration of acquisitions. Divestitures also posed a minor negative impact on sales.
Liquidity and capital
The company generated strong operating cash flow, which supports its liquidity and capital allocation activities. No specific capital allocation themes beyond this were detailed in the supplied context.
What to watch
Monitor the impact of currency exchange rate movements on future net sales, particularly in the Diversified Industrial International businesses.