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Financial profile · Q3 FY2026

A cash-generative building-products company built around margins and shareholder returns

Across the multi-year record, Carlisle’s building-products model combines cyclical revenue with persistent operating profitability and positive free cash flow. Capital spending has remained modest relative to operating cash generation, supporting dividends and substantial share repurchases.

What is developing

Revenue continued to grow, but operating margins and trailing cash generation softened as raw-material and freight inflation outpaced pricing and working-capital demands increased. This is a meaningful pressure on recent results, not yet evidence of a changed model: cash generation remains positive, and management described the margin pressure as a timing issue.

What matters next

Whether realized pricing catches up with raw-material and freight inflation enough to stabilize operating margins.

USD
Metric FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
3.4B 3.8B 4.5B 4.8B 4.2B 3.8B 5.4B 4.6B 5B 5B
(2.3B) (2.7B) (3.3B) (3.4B) (3B) (2.7B) (3.6B) (3B) (3.1B) (3.2B)
1.1B 1B 1.2B 1.4B 1.2B 1.1B 1.9B 1.6B 1.9B 1.8B
(540.7m) (584.3m) (665.7m) (717.5m) (687.2m) (504.5m) (630.1m) (651.4m) (744.6m) (790.1m)
(495.4m) (532.9m) (625.4m) (667.1m) (632m) (507.8m) (623.5m) (625.2m) (722.8m) (745.4m)
R&D
(45.4m) (51.3m) (55.1m) (60.9m) (54.5m) (16.4m) (19m) (28.7m) (35.4m) (47.1m)
100k (100k) 14.8m 10.5m (700k) 19.7m 12.4m 2.5m 13.6m 2.4m
545.7m 464m 509m 654.2m 508.1m 591m 1.2B 982.8m 1.1B 1B
(30.6m) (33.5m) (53.5m) (58.2m) (71.8m) (79.1m) (79.1m) (55.5m) (13m) (52.6m)
31.9m 34m 64.7m 66m 76.6m 80.2m 85.9m 75.6m 73.3m 78.5m
(141.5m) 0 0 — (33.3m) (17.6m) (31.1m) — — —
5.6m (1.5m) (9.6m) (700k) (1.7m) (4.4m) (2m) 3.1m (19.2m) (1.1m)
379.2m 429m 445.9m 595.3m 401.3m 489.9m 1.1B 930.4m 1.1B 948.8m
(148.1m) (146.1m) (90.6m) (121.6m) (77.1m) (104.3m) (265.7m) (211.5m) (245.8m) (206.3m)
231.1m 282.9m 355.3m 473.7m 324.2m 385.6m 858m 718.9m 865.1m 742.5m
248m 362.4m 609.2m 471.5m 319m 420.5m 921.8m 765.6m 1.3B 740.7m
3.82 5.69 10.01 8.21 5.80 7.90 17.55 15.19 27.79 17.14