Parker-Hannifin Corporation

Parker closed FY2026 with record sales, margins and cash, beat the margin goal it had set for 2029, and raised its own bar to 30% by FY2031. The next leg depends on roughly $12 billion of acquisitions that have not closed yet. How much of PH's FY2027 sales forecast comes from deals not yet closed?

• The industrial recovery finally arrived.

  Orders have been positive in every business for several quarters and every industrial group grew at once. Management dropped "gradual" and called the recovery broadening, so Parker is adding factory capacity rather than cutting it. Which PH end markets turned the most orders into revenue last year?

• Aerospace now sets the tone for the whole company.

  Aerospace has grown at double digits four years running, its margins now match Parker's best, and its backlog is a record. It carries results when trucks and factories are slow, but the company now leans on one segment.

• Parker is spending before the deals close.

  Filtration Group and CIRCOR's aerospace unit await regulators, and FY2027 guidance leaves them out. Debt rises toward three times earnings, and guided earnings growth of 8% is half last year's pace, so interest arrives before profit. How much profit will PH's two pending deals add in their first full year?