Ingersoll Rand Inc.

Aftermarket parts, consumables, and services accounted for roughly 36.5% of FY2025 revenue, providing a recurring stream tied to a large global installed base. Equipment OEM sales (the remaining roughly 63%) are transactional and capital-expenditure-driven, limiting forward visibility beyond near-term order books.

The Industrial Technologies and Services segment represents approximately 80% of total revenue, spanning compressors, vacuum, blowers, power tools, and fluid management across many industrial end markets. Precision and Science Technologies adds roughly 20%, and while within-segment product breadth is meaningful, the dominant ITS concentration creates material segment-level revenue concentration.

As of FY2023, the United States accounted for approximately 43% of net sales, EMEIA for roughly 33%, and Asia-Pacific for about 17%, with the Americas ex-US adding the remainder. No single country exceeds 43% and revenue is meaningfully spread across three major global regions.

Adjusted EBITDA margin held in the 27-28% range across FY2023-FY2025, consistent with a manufacturing-plus-services mix that delivers sector-solid economics without demonstrating the expanding incremental margins of an asset-light business. Aftermarket revenue at higher margins than OEM equipment provides some structural operating leverage, but capex and manufacturing costs limit incremental margin uplift.

Compressed air and vacuum systems are mission-critical inputs for continuous industrial processes, creating a repeating demand cycle as equipment ages and requires maintenance. Revenue is largely transactional rather than contractually recurring, with aftermarket (roughly 36.5% of FY2025 revenue) providing the most durable repeat stream.