ROKIndustrial automation
Rockwell Automation
Not investment advice. Kevin may own this stock. How we value stocks
By Kevin Amado
Updated
- Price
- $406.19
- Analysts view
- Leaning bullish
- Discount category
- Far above intrinsic value
- Pick status
- Research only
- Next earnings
- Earnings Feb 4 · · estimated
- Market cap
- $45B
- Shares of Oct 31, 2026
- Yield at current rate
- 1.4%
- Current annual rate, at the price of Nov 12, 2026
- Dividend yield
- 1.4%
- Last 12 months, at the price of Nov 12, 2026
- P/E (trailing)
- 32.4
- Price of Nov 12, 2026
- EPS (trailing)
- $12.54
- 12 months to Sep 30, 2026
- 52-week range
- $347.53 – $497.36
- To Nov 12, 2026
- Beta
- 1.50
- Vs S&P 500, 5 years monthly, to Oct 30, 2026
- Average volume
- 834K
- 3 months, to Nov 12, 2026
Check the numbers:ExchangeGoogle FinanceYahoo FinanceSEC filings
In short
- Thesis
- Rockwell trades above its intrinsic value because investors pay for its fast profit growth, and only growth in chip and data center work with margin gains can support this price.
- Gap
- Can close. The Q1 fiscal 2027 report in February 2027 shows whether sales growth and margin are on the path to the fiscal 2027 guidance.
Company guidance: Fiscal 2027 adjusted EPS of $14.50 to $15.50 and organic sales growth of 6% to 9% (, Q4 and full year fiscal 2026 results (8-K))
Price history
About
Rockwell Automation, Inc. (Rockwell) makes hardware, software and services that run factories and process plants. It has three segments. Intelligent Devices makes drives, motion control, sensors and safety products, and its sales were $4,185 million in fiscal 2026. Software & Control sells control systems and software, and its sales were $2,818 million.
Lifecycle Services sells consulting, project and support services, and its sales were $2,071 million. Total sales were $8,989 million in fiscal 2026, which ended on September 30, 2026. Rockwell says that growth came from semiconductor, data center and warehouse automation customers, with better activity in automotive and life sciences. Organic annual recurring revenue grew 5%.
On April 1, 2026, Rockwell ended its Sensia joint venture, and the businesses that it had contributed went back to the partners. About 27,000 people work at Rockwell, which is based in Milwaukee. Its shares trade on the New York Stock Exchange. Blake Moret is Chairman and Chief Executive Officer.
Thesis
Rockwell trades above its intrinsic value because investors pay for its fast profit growth and its software and control business, even though its orders follow factory spending and the growth of fiscal 2026 had one-time help. Adjusted EPS rose 27% to $13.42, but $0.11 of it came from tariff refunds and related items. Guidance for fiscal 2027 is $14.50 to $15.50, which asks for growth of about 12% at the midpoint.
Q4 organic sales rose 3% after a charge of about 4 points for a refund program for customers, and Lifecycle Services organic sales fell 2% for the year. For the price to hold, three things must be true. Organic sales must grow 6% to 9% in fiscal 2027, led by Software & Control, which grew 15% in Q4 with an operating margin of 34.0%.
Margin must keep rising as price and mix offset higher pay costs. Tariffs must not return as a large cost after the refunds. The Q1 fiscal 2027 report, expected in early February 2027, is the next test.
Checkpoints
- Nov 5, 2026PassedQ4 fiscal 2026 results: adjusted EPS against the rangeFiscal 2026 adjusted EPS of $13.00 to $13.30 or more passes; a result below $13.00 fails.Outcome: Adjusted EPS was $13.42, which includes $0.11 of tariff refund items.
- Feb 4, 2027 · est.PendingQ1 fiscal 2027 results: organic sales and marginOrganic sales growth of 6% or more with fiscal 2027 adjusted EPS guidance of $14.50 or more kept passes; organic growth below 3% or a lower outlook fails.
- May 2027 · est.PendingQ2 fiscal 2027 results: Software & ControlSoftware & Control sales growth of 10% or more with an operating margin of 30% or more passes; slower growth or a lower margin fails.
Recent events
- November 5, 2026Rockwell reported Q4 and full-year fiscal 2026 results. Q4 sales were $2,332 million, up 1%, with organic sales up 3%. Q4 adjusted EPS was $3.88, up 16%, and diluted EPS was $3.11. For the year, sales were $8,989 million, adjusted EPS was $13.42 and free cash flow was $1,701 million. Rockwell gave fiscal 2027 guidance of organic sales growth of 6% to 9% and adjusted EPS of $14.50 to $15.50.
- November 5, 2026Rockwell said that it bought back 3.1 million shares for $1,254 million in fiscal 2026, 1.2 million of them for $500 million in Q4. It had $673 million of authorization left at September 30, 2026. In Q4 it also made a $50 million gift to its charitable corporation, which the adjusted measures leave out.
- September 24, 2026Rockwell said that Scott Genereux stopped serving as Chief Revenue Officer on September 30, 2026. He remains a Senior Vice President until he retires on December 31, 2026.
Show 3 older eventsHide older events
- August 4, 2026Rockwell reported Q3 fiscal 2026 results. Sales were $2,313 million, up 8%, organic sales were up 10% and adjusted EPS was $3.49, up 22%. It raised its fiscal 2026 range for adjusted EPS to $13.00 to $13.30.
- May 5, 2026Rockwell reported Q2 fiscal 2026 results. Sales were up 12%, organic sales were up 9% and adjusted EPS was $3.30, up 32%. It raised its fiscal 2026 range for adjusted EPS to $12.50 to $13.10.
- April 1, 2026Rockwell completed the dissolution of the Sensia joint venture. The joint venture partner paid Rockwell $40 million in cash. Rockwell recorded a pre-tax gain of $20 million and a tax benefit that is also outside adjusted EPS.
Latest news and filings
- Last earnings
- November 5, 2026 (8-K on sec.gov)
- Next earnings
- Expected about February 4, 2027. The company has not confirmed the date.
- 8-KEarnings releaseFiled · Press release and exhibits
- 8-KChange of directors or officersFiled · Read it on sec.gov
- 10-QQuarterly report for the period ended Jun 30, 2026Filed · rok-20260630
- 8-KEarnings releaseFiled · Press release and exhibits
- 10-QQuarterly report for the period ended Mar 31, 2026Filed · rok-20260331
- 8-KEarnings releaseFiled · Press release and exhibits
- 8-KChange of directors or officersFiled · rok-20260415
- 8-KChange of directors or officersFiled · Read it on sec.gov
- 8-KShareholder vote resultsFiled · rok-20260213
- 10-QQuarterly report for the period ended Dec 31, 2025Filed · rok-20251231
Risks
- Factory spending is cyclical. Rockwell's own list of risks names customers' capital spending, business conditions and prices. Lifecycle Services organic sales fell 2% in fiscal 2026. A fall in orders would hit sales and the margin gains that guidance expects.
- Tariff effects are not steady. In Q4, Rockwell received $103 million of tariff refunds and set aside $85 million for refunds to customers, and the net effect was a gain of $0.11 per share. New tariffs or rules would change cost and prices again.
- The margin plan needs cost control. Fiscal 2027 guidance asks for adjusted EPS growth of about 12% on sales growth of 4.5% to 7.5%. Pay costs rose in fiscal 2026, and a charge of $25 million for restructuring was booked in Q4.
- Legacy asbestos and environmental liabilities can return. Net legacy charges were $154 million before tax in fiscal 2025, and Rockwell left them out of adjusted EPS.
- The head of sales is leaving. The Chief Revenue Officer stopped in that role on September 30, 2026 and retires on December 31, 2026.
Balance sheet
Rockwell reported cash of $433 million, short-term debt of $711 million and long-term debt of $2,569 million at September 30, 2026, so net debt was about $2.8 billion, or about 1.3 times adjusted EBITDA of $2,182 million for fiscal 2026. Shareowners' equity was $3,552 million of $11,268 million of total assets, and goodwill and intangibles were $4,493 million. Free cash flow was $1,701 million for the year, and it includes $108 million from tariff refunds and interest. Rockwell bought back $1,254 million of shares and paid a dividend of $1.38 per share each quarter in fiscal 2026. It had $673 million of buyback authorization left.
Dividends
- Yield at the current rate
- 1.4% (current annual rate, at today’s price)
- Dividend yield
- 1.4% (last 12 months, at today’s price of $406.19)
- Paid per share
- $5.52 in the last 12 months (4 payments)
- Current annual rate
- $5.52 ($1.38 × 4 a year)
- Payout ratio
- 44% of the last fiscal year’s earnings (the year that ended September 30, 2026)
- Latest ex-dividend date
- August 17, 2026, $1.38 per share
Dividends per share by year
| 2016 | $2.935 | |
|---|---|---|
| 2017 | $3.115 | |
| 2018 | $3.645 | |
| 2019 | $3.93 | |
| 2020 | $4.13 | |
| 2021 | $4.33 | |
| 2022 | $4.54 | |
| 2023 | $4.79 | |
| 2024 | $5.06 | |
| 2025 | $5.31 |
From 2020 to 2025, the dividend grew by about 5.2% a year. From 2015 to 2025, the dividend grew by about 7.1% a year.
Source: company filings and market data, read on November 13, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.
Questions about Rockwell Automation
What does Rockwell Automation do?
Rockwell Automation, Inc. (Rockwell) makes hardware, software and services that run factories and process plants. It has three segments. Its market cap is $45B at the current price of $406.19.
When does Rockwell Automation report earnings next?
This is an estimate: Rockwell Automation may report on February 4, 2027. It last reported results on November 5, 2026.
Is Rockwell Automation stock below its intrinsic value?
Rockwell Automation stock is far above intrinsic value. This is general information, not advice.
What changed recently at Rockwell Automation?
The latest update is from November 5, 2026. Rockwell reported Q4 and full-year fiscal 2026 results.
What are the main risks for Rockwell Automation?
Factory spending is cyclical. Tariff effects are not steady. The margin plan needs cost control.
How much debt and cash does Rockwell Automation have?
Rockwell reported cash of $433 million, short-term debt of $711 million and long-term debt of $2,569 million at September 30, 2026, so net debt was about $2.8 billion, or about 1.3 times adjusted EBITDA of $2,182 million for fiscal 2026. This is as of September 30, 2026.
Does Rockwell Automation pay a dividend?
Yes. The current annual dividend of Rockwell Automation is $5.52 per share. That is a dividend yield of 1.4% at the current price of $406.19. The latest ex-dividend date was August 17, 2026.
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