Top Companies by Free Cash Flow in Industrials
Largest public companies ranked by free cash flow in Industrials on a trailing twelve months basis. Compare top issuers, sector peers and historical context on…
How TTM free cash flow is measured
Trailing twelve months (TTM) free cash flow (FCF) is operating cash flow minus capital expenditure, summed across a company's four most recent fiscal quarters. Unlike accrual-based earnings, FCF reflects what actually leaves the bank account after running the business and reinvesting in property, plant and equipment — the cash available for buybacks, dividends, debt reduction or M&A.
FCF is closer to owner earnings than net income because it strips out non-cash charges like depreciation and the working-capital churn that distorts a single quarter. Compare with capex to see how much of operating cash flow gets reinvested versus returned. Figures are ranked in USD after period-average FX translation (IAS 21). Rankings USD translation methodology · IFRS IAS 21 (official)
Calculated from each company's four most recent reported quarters, as of .
Sector scopeIndustrialsChange sectorChange sector
Top companies by Free Cash Flow — Industrials
- Caterpillar
CAT
- Sector
- Industrials
- Free Cash Flow
- $10.27B
- As of
- RTX
RTX
- Sector
- Industrials
- Free Cash Flow
- $8.36B
- As of
- Sector
- Industrials
- Free Cash Flow
- $7.47B
- As of
- Sector
- Industrials
- Free Cash Flow
- $5.66B
- As of
- Sector
- Industrials
- Free Cash Flow
- $4.76B
- As of
- Sector
- Industrials
- Free Cash Flow
- $4.60B
- As of
- Sector
- Industrials
- Free Cash Flow
- $4.47B
- As of
- FedEx
FDX
- Sector
- Industrials
- Free Cash Flow
- $4.37B
- As of
- Sector
- Industrials
- Free Cash Flow
- $4.20B
- As of
- Sector
- Industrials
- Free Cash Flow
- $4.17B
- As of
- CSX
CSX
- Sector
- Industrials
- Free Cash Flow
- $4.13B
- As of
- Sector
- Industrials
- Free Cash Flow
- $3.96B
- As of
- Sector
- Industrials
- Free Cash Flow
- $3.92B
- As of
- Sector
- Industrials
- Free Cash Flow
- $3.82B
- As of
- Sector
- Industrials
- Free Cash Flow
- $3.34B
- As of
- Sector
- Industrials
- Free Cash Flow
- $3.31B
- As of
- Sector
- Industrials
- Free Cash Flow
- $3.21B
- As of
- PACCAR
PCAR
- Sector
- Industrials
- Free Cash Flow
- $3.03B
- As of
- Sector
- Industrials
- Free Cash Flow
- $2.84B
- As of
- Sector
- Industrials
- Free Cash Flow
- $2.82B
- As of
- Sector
- Industrials
- Free Cash Flow
- $2.71B
- As of
- Sector
- Industrials
- Free Cash Flow
- $2.68B
- As of
- Sector
- Industrials
- Free Cash Flow
- $2.58B
- As of
- Sector
- Industrials
- Free Cash Flow
- $2.55B
- As of
- Sector
- Industrials
- Free Cash Flow
- $2.43B
- As of
- Sector
- Industrials
- Free Cash Flow
- $2.41B
- As of
- Cummins
CMI
- Sector
- Industrials
- Free Cash Flow
- $2.39B
- As of
- Paychex
PAYX
- Sector
- Industrials
- Free Cash Flow
- $2.15B
- As of
- Carrier Global
CARR
- Sector
- Industrials
- Free Cash Flow
- $2.09B
- As of
- 3M
MMM
- Sector
- Industrials
- Free Cash Flow
- $2.06B
- As of
- Sector
- Industrials
- Free Cash Flow
- $2.04B
- As of
- Sector
- Industrials
- Free Cash Flow
- $2.04B
- As of
- Sector
- Industrials
- Free Cash Flow
- $1.88B
- As of
- Cintas
CTAS
- Sector
- Industrials
- Free Cash Flow
- $1.79B
- As of
- AMETEK
AME
- Sector
- Industrials
- Free Cash Flow
- $1.67B
- As of
- Otis Worldwide
OTIS
- Sector
- Industrials
- Free Cash Flow
- $1.67B
- As of
- Wabtec
WAB
- Sector
- Industrials
- Free Cash Flow
- $1.64B
- As of
- Sector
- Industrials
- Free Cash Flow
- $1.62B
- As of
- Copart
CPRT
- Sector
- Industrials
- Free Cash Flow
- $1.41B
- As of
- Sector
- Industrials
- Free Cash Flow
- $1.38B
- As of
- Sector
- Industrials
- Free Cash Flow
- $1.33B
- As of
- Sector
- Industrials
- Free Cash Flow
- $1.32B
- As of
- Sector
- Industrials
- Free Cash Flow
- $1.30B
- As of
- Sector
- Industrials
- Free Cash Flow
- $1.24B
- As of
- Sector
- Industrials
- Free Cash Flow
- $1.21B
- As of
- Verisk Analytics
VRSK
- Sector
- Industrials
- Free Cash Flow
- $1.19B
- As of
- EMCOR Group
EME
- Sector
- Industrials
- Free Cash Flow
- $1.19B
- As of
- Fastenal
FAST
- Sector
- Industrials
- Free Cash Flow
- $1.16B
- As of
- Sector
- Industrials
- Free Cash Flow
- $1.16B
- As of
- Equifax
EFX
- Sector
- Industrials
- Free Cash Flow
- $1.14B
- As of
- Dover
DOV
- Sector
- Industrials
- Free Cash Flow
- $1.14B
- As of
- Snap-on
SNA
- Sector
- Industrials
- Free Cash Flow
- $1.08B
- As of
- Sector
- Industrials
- Free Cash Flow
- $1.06B
- As of
- Sector
- Industrials
- Free Cash Flow
- $1.03B
- As of
- Veralto
VLTO
- Sector
- Industrials
- Free Cash Flow
- $1.01B
- As of
- Ferrovial
FER
- Sector
- Industrials
- Free Cash Flow
- $1.00B
- As of
- Sector
- Industrials
- Free Cash Flow
- $955.10M
- As of
- Sector
- Industrials
- Free Cash Flow
- $953.40M
- As of
- Masco
MAS
- Sector
- Industrials
- Free Cash Flow
- $943.00M
- As of
- Sector
- Industrials
- Free Cash Flow
- $924.80M
- As of
- Xylem
XYL
- Sector
- Industrials
- Free Cash Flow
- $910.00M
- As of
- Sector
- Industrials
- Free Cash Flow
- $894.89M
- As of
- Sector
- Industrials
- Free Cash Flow
- $875.29M
- As of
- Hubbell
HUBB
- Sector
- Industrials
- Free Cash Flow
- $874.70M
- As of
- Sector
- Industrials
- Free Cash Flow
- $872.90M
- As of
- Sector
- Industrials
- Free Cash Flow
- $853.28M
- As of
- Textron
TXT
- Sector
- Industrials
- Free Cash Flow
- $777.00M
- As of
- Pentair
PNR
- Sector
- Industrials
- Free Cash Flow
- $746.00M
- As of
- AGCO
AGCO
- Sector
- Industrials
- Free Cash Flow
- $740.20M
- As of
- Allegion
ALLE
- Sector
- Industrials
- Free Cash Flow
- $704.05M
- As of
- Sector
- Industrials
- Free Cash Flow
- $687.90M
- As of
- Sector
- Industrials
- Free Cash Flow
- $663.00M
- As of
- Nordson
NDSN
- Sector
- Industrials
- Free Cash Flow
- $646.31M
- As of
- Sector
- Industrials
- Free Cash Flow
- $638.80M
- As of
- IDEX
IEX
- Sector
- Industrials
- Free Cash Flow
- $616.80M
- As of
- Pool
POOL
- Sector
- Industrials
- Free Cash Flow
- $605.10M
- As of
- A. O. Smith
AOS
- Sector
- Industrials
- Free Cash Flow
- $546.00M
- As of
- Sector
- Industrials
- Free Cash Flow
- $534.20M
- As of
- Sector
- Industrials
- Free Cash Flow
- $437.32M
- As of
- Generac
GNRC
- Sector
- Industrials
- Free Cash Flow
- $356.78M
- As of
- Sector
- Industrials
- Free Cash Flow
- $349.70M
- As of
- Sector
- Industrials
- Free Cash Flow
- $326.80M
- As of
- MSA Safety
MSA
- Sector
- Industrials
- Free Cash Flow
- $295.43M
- As of
- McGrath RentCorp
MGRC
- Sector
- Industrials
- Free Cash Flow
- $211.30M
- As of
- Brady
BRC
- Sector
- Industrials
- Free Cash Flow
- $169.76M
- As of
- Sector
- Industrials
- Free Cash Flow
- $169.49M
- As of
- Alamo Group
ALG
- Sector
- Industrials
- Free Cash Flow
- $146.92M
- As of
- Gorman-Rupp
GRC
- Sector
- Industrials
- Free Cash Flow
- $93.93M
- As of
- Axon Enterprise
AXON
- Sector
- Industrials
- Free Cash Flow
- $75.08M
- As of
- Tennant
TNC
- Sector
- Industrials
- Free Cash Flow
- $43.40M
- As of
- Sector
- Industrials
- Free Cash Flow
- -$82.08M
- As of
- Sector
- Industrials
- Free Cash Flow
- -$318.60M
- As of
- Sector
- Industrials
- Free Cash Flow
- -$401.00M
- As of
- Sector
- Industrials
- Free Cash Flow
- -$477.00M
- As of
- Archer Aviation
ACHR
- Sector
- Industrials
- Free Cash Flow
- -$511.70M
- As of
- Plug Power
PLUG
- Sector
- Industrials
- Free Cash Flow
- -$654.07M
- As of
- Boeing
BA
- Sector
- Industrials
- Free Cash Flow
- -$1.04B
- As of
| # | Company | Sector | Free Cash Flow | As of |
|---|---|---|---|---|
| 1 | Caterpillar (CAT) | Industrials | $10.27B | |
| 2 | RTX (RTX) | Industrials | $8.36B | |
| 3 | GE Aerospace (GE) | Industrials | $7.47B | |
| 4 | Lockheed Martin (LMT) | Industrials | $5.66B | |
| 5 | United Parcel Service (UPS) | Industrials | $4.76B | |
| 6 | Automatic Data Processing (ADP) | Industrials | $4.60B | |
| 7 | Eaton Corporation (ETN) | Industrials | $4.47B | |
| 8 | FedEx (FDX) | Industrials | $4.37B | |
| 9 | Union Pacific (UNP) | Industrials | $4.20B | |
| 10 | Honeywell International (HON) | Industrials | $4.17B | |
| 11 | CSX (CSX) | Industrials | $4.13B | |
| 12 | General Dynamics (GD) | Industrials | $3.96B | |
| 13 | Delta Air Lines (DAL) | Industrials | $3.92B | |
| 14 | Norfolk Southern (NSC) | Industrials | $3.82B | |
| 15 | Parker-Hannifin (PH) | Industrials | $3.34B | |
| 16 | Northrop Grumman (NOC) | Industrials | $3.31B | |
| 17 | United Airlines Holdings (UAL) | Industrials | $3.21B | |
| 18 | PACCAR (PCAR) | Industrials | $3.03B | |
| 19 | Trane Technologies (TT) | Industrials | $2.84B | |
| 20 | Waste Management (WM) | Industrials | $2.82B | |
| 21 | Illinois Tool Works (ITW) | Industrials | $2.71B | |
| 22 | L3Harris Technologies (LHX) | Industrials | $2.68B | |
| 23 | Emerson Electric (EMR) | Industrials | $2.58B | |
| 24 | Roper Technologies (ROP) | Industrials | $2.55B | |
| 25 | Canadian National Railway (CNI) | Industrials | $2.43B | |
| 26 | Republic Services (RSG) | Industrials | $2.41B | |
| 27 | Cummins (CMI) | Industrials | $2.39B | |
| 28 | Paychex (PAYX) | Industrials | $2.15B | |
| 29 | Carrier Global (CARR) | Industrials | $2.09B | |
| 30 | 3M (MMM) | Industrials | $2.06B | |
| 31 | Global Payments (GPN) | Industrials | $2.04B | |
| 32 | Thomson Reuters (TRI) | Industrials | $2.04B | |
| 33 | TransDigm Group (TDG) | Industrials | $1.88B | |
| 34 | Cintas (CTAS) | Industrials | $1.79B | |
| 35 | AMETEK (AME) | Industrials | $1.67B | |
| 36 | Otis Worldwide (OTIS) | Industrials | $1.67B | |
| 37 | Wabtec (WAB) | Industrials | $1.64B | |
| 38 | Quanta Services (PWR) | Industrials | $1.62B | |
| 39 | Copart (CPRT) | Industrials | $1.41B | |
| 40 | Comfort Systems USA (FIX) | Industrials | $1.38B | |
| 41 | W.W. Grainger (GWW) | Industrials | $1.33B | |
| 42 | Deere & Company (DE) | Industrials | $1.32B | |
| 43 | Johnson Controls (JCI) | Industrials | $1.30B | |
| 44 | Rockwell Automation (ROK) | Industrials | $1.24B | |
| 45 | Howmet Aerospace (HWM) | Industrials | $1.21B | |
| 46 | Verisk Analytics (VRSK) | Industrials | $1.19B | |
| 47 | EMCOR Group (EME) | Industrials | $1.19B | |
| 48 | Fastenal (FAST) | Industrials | $1.16B | |
| 49 | Ingersoll Rand (IR) | Industrials | $1.16B | |
| 50 | Equifax (EFX) | Industrials | $1.14B | |
| 51 | Dover (DOV) | Industrials | $1.14B | |
| 52 | Snap-on (SNA) | Industrials | $1.08B | |
| 53 | Huntington Ingalls Industries (HII) | Industrials | $1.06B | |
| 54 | J.B. Hunt Transport Services (JBHT) | Industrials | $1.03B | |
| 55 | Veralto (VLTO) | Industrials | $1.01B | |
| 56 | Ferrovial (FER) | Industrials | $1.00B | |
| 57 | Old Dominion Freight Line (ODFL) | Industrials | $955.10M | |
| 58 | Expeditors International (EXPD) | Industrials | $953.40M | |
| 59 | Masco (MAS) | Industrials | $943.00M | |
| 60 | Carlisle Companies (CSL) | Industrials | $924.80M | |
| 61 | Xylem (XYL) | Industrials | $910.00M | |
| 62 | C.H. Robinson Worldwide (CHRW) | Industrials | $894.89M | |
| 63 | Jacobs Solutions (J) | Industrials | $875.29M | |
| 64 | Hubbell (HUBB) | Industrials | $874.70M | |
| 65 | Avery Dennison (AVY) | Industrials | $872.90M | |
| 66 | Builders FirstSource (BLDR) | Industrials | $853.28M | |
| 67 | Textron (TXT) | Industrials | $777.00M | |
| 68 | Pentair (PNR) | Industrials | $746.00M | |
| 69 | AGCO (AGCO) | Industrials | $740.20M | |
| 70 | Allegion (ALLE) | Industrials | $704.05M | |
| 71 | Stanley Black & Decker (SWK) | Industrials | $687.90M | |
| 72 | United Rentals (URI) | Industrials | $663.00M | |
| 73 | Nordson (NDSN) | Industrials | $646.31M | |
| 74 | Lennox International (LII) | Industrials | $638.80M | |
| 75 | IDEX (IEX) | Industrials | $616.80M | |
| 76 | Pool (POOL) | Industrials | $605.10M | |
| 77 | A. O. Smith (AOS) | Industrials | $546.00M | |
| 78 | Lincoln Electric Holdings (LECO) | Industrials | $534.20M | |
| 79 | Applied Industrial Technologies (AIT) | Industrials | $437.32M | |
| 80 | Generac (GNRC) | Industrials | $356.78M | |
| 81 | Donaldson Company (DCI) | Industrials | $349.70M | |
| 82 | ABM Industries (ABM) | Industrials | $326.80M | |
| 83 | MSA Safety (MSA) | Industrials | $295.43M | |
| 84 | McGrath RentCorp (MGRC) | Industrials | $211.30M | |
| 85 | Brady (BRC) | Industrials | $169.76M | |
| 86 | Franklin Electric Co. (FELE) | Industrials | $169.49M | |
| 87 | Alamo Group (ALG) | Industrials | $146.92M | |
| 88 | Gorman-Rupp (GRC) | Industrials | $93.93M | |
| 89 | Axon Enterprise (AXON) | Industrials | $75.08M | |
| 90 | Tennant (TNC) | Industrials | $43.40M | |
| 91 | Matthews International (MATW) | Industrials | -$82.08M | |
| 92 | MDU Resources Group (MDU) | Industrials | -$318.60M | |
| 93 | Southwest Airlines (LUV) | Industrials | -$401.00M | |
| 94 | Alaska Air Group (ALK) | Industrials | -$477.00M | |
| 95 | Archer Aviation (ACHR) | Industrials | -$511.70M | |
| 96 | Plug Power (PLUG) | Industrials | -$654.07M | |
| 97 | Boeing (BA) | Industrials | -$1.04B |