Ingersoll Rand Inc.
Orin's own judgment of how firmly the evidence points one way — not the chance the price goes up.
Ingersoll Rand is showing clear operational inflection: Q2 2026 revenue grew 8.5% YoY to $2.05B with operating income of $380.3M, a sharp rebound from Q2 2025's $76.4M operating income and negative net income, and the company has beaten EPS estimates in five of the last six quarters including a 4.0% beat in Q2 2026.
Management's September 2026 commentary on 'broad demand recovery' and accelerating long-cycle orders, combined with a MACD histogram that has turned positive at +0.61 versus the prior verdict's negative reading, suggests the margin compression that drove FY2025 net income down 30.7% is bottoming. At 30.5x trailing earnings — a 15.6% premium to the peer median of 26.4x — the stock is not cheap, but P/S at 3.68 and EV/EBITDA at 16.70 both trade below peer medians, and the stock's close of $76.08 sits below both the 50-day ($79.84) and 200-day ($81.70) moving averages, offering an entry before the recovery is fully priced in.
What could go wrong
- Margin recovery stalls. FY2025 gross margin compressed to 38.5% from 43.8% in FY2024; if Q2 2026's improvement does not sustain across H2, the premium P/E of 30.5x becomes hard to justify.
- Elevated leverage. Total debt stood at $4.85B as of FY2025, up from $2.77B in FY2023, limiting financial flexibility if end-market demand weakens.
- Insider selling persists. Insiders have been net sellers of 356,349 shares worth $52.8M over the trailing 24 months, with no cluster buying detected.
- Smart money fading. The smart money score turned slightly negative at -0.00 as of Q2 2026, down from 0.039 in Q1 2026, indicating institutional positioning has softened.
What would change my mind
Where this comes from: Q2 2026 results · Q2 2025 results · FY25 fundamentals · peer comparison. Orin's read on IR; not advice.
How has the share price moved?
Down 5.9% over twelve months, from $80.24 on 27 Oct 2025 to $75.53 at the Tue 27 Oct 2026 close. Its highest close in that time was $98.76 on 17 Feb 2026; the last close is 23.5% below it.
- Green line: the closing price each trading day.
- Grey line: the average closing price over the last 50 trading days.
- Dashed amber line: the same over the last 200 trading days — a slower, smoother line.
- Bars along the bottom: shares traded each day — green when it closed higher than the day before, rose when lower (the most, 13.5M, on 4 Feb 2026).
- Flags: the company's filings, on the day they were made (a 10-Q is the quarterly report and a 10-K the annual report; an 8-K reports a major event).
- Rose flags: large share sales by the company's own officers and directors, from the Form 4 each one files after trading.
On file
All IR filings| Form | Filed | What it says | Read |
|---|---|---|---|
| 13G/A | 14 Aug | — | on file |
| 13G/A | 12 Aug | — | on file |
| 13G/A | 6 Aug | — | on file |
| 10-Q | 31 Jul | Ingersoll Rand Inc. reported Q2 2026 revenues of $2,048.8 million, an increase of 8.5% year-over-year, driven by $77.5 million in higher organic revenues and $53.4 million from acquisitions. | read |
| 8-K | 30 Jul | Ingersoll Rand reported Q2 2026 results with $2,049 million in revenue, up 9% year-over-year, driven by 4% organic growth. | read |
| 8-K | 16 Jun | Ingersoll Rand Inc. stockholders approved the 2026 Omnibus Incentive Plan on June 11, 2026, effective immediately. | read |
| 13G | 15 May | — | on file |
| 13G/A | 15 May | — | on file |
Largest holders · 13F Q2 2026
Money flow| Filer | Position | Of fund |
|---|---|---|
| BlackRock | $2.5B | 0.0% |
| Capital World Investors | $2.3B | 0.3% |
| T. Rowe Price Associates | $2.2B | 0.2% |
| Capital Research Global Investors | $2.1B | 0.3% |
| Vanguard Capital Management | $2.0B | 0.0% |
| Vanguard Portfolio Management | $1.4B | 0.1% |
| State Street | $1.3B | 0.0% |
| Franklin Resources | $1.3B | 0.3% |
| FMR | $1.1B | 0.0% |
| JPMorgan Chase | $861.8M | 0.0% |
90 of the 815 filers we track · quarter ended Q2 2026 · positions, not flows
Insiders, last 24 months: 243 Form 4 filings; open-market trades net −$63.0M. Of the 50 on hand, 1 was an open-market purchase and 2 sales — the rest are grants, option exercises and tax withholding.
Ask Orin about IR
Orin answers questions about IR from its filings, transcripts and numbers — with the source behind every claim. Your own desk starts with 3 free days, card required.
Start 3 free days →How is it priced, against its own past and its sector?
Priced at 30.8× its last 12 months of profit (Tue 27 Oct close) — lower than in all 5 of its last 5 fiscal years (middle 43.5×); the typical Industrials company on the NYSE is at 33.7×.
| Measure | Now | Its usual | Sector |
|---|---|---|---|
| P/E | 30.8×below usual | 43.5× | 33.7× |
| P/S | 3.69×below usual | 4.55× | — |
| EV/EBITDA | 16.5×below usual | 21.8× | — |
| P/B | 2.9×below usual | 3.1× | — |
- "Its usual" is the middle of its own last 5 fiscal years.
P/E: the share price divided by one year of profit per share — roughly how many years of today's profit the price pays for. A company that loses money has no P/E.
P/S: the company's total market value divided by one year of revenue. Used when there is no profit to measure.
EV/EBITDA: the price of the whole company (its shares plus its debt, minus its cash) divided by one year of operating profit before interest, tax and write-downs.
P/B: the share price divided by the book value per share — what the company owns minus what it owes, as its accounts record it. When book value is tiny, P/B swings wildly and says little.
What do the analysts who cover it publish?
The analysts' average 12-month price target is $92.40 (from $84 to $103) — 22% above the Tue 27 Oct close price. That is their published opinion, not Orin's.
$92.40
$84 – $103 · +22% against the last close
- 4 buy or overweight
- 3 hold
- 0 underweight or sell
Price target: the share price an analyst publishes for about 12 months ahead. It is the opinion of the firm that wrote it; the average is across the firms that cover the company.
Overweight / underweight: analysts' rating words: overweight means the firm expects the stock to do better than the others it covers, underweight worse. Their words, not Orin's.
How is it priced next to the companies it is compared to?
Priced at 30.8× its last 12 months of profit; the middle P/E of the 6 companies it is compared to that made a profit is 27.4×.
| Company | Market value | P/E | EV/EBITDA | Gross margin | Net margin | ROE |
|---|---|---|---|---|---|---|
| IRIngersoll Rand Inc. | $29B | 30.8× | 16.5× | 37.9% | 12.1% | 9% |
| DOVDover Corporation | $28B | 23.9× | 15.2× | 39.7% | 13.6% | 15% |
| FLSFlowserve Corporation | $9B | 24.6× | 14.5× | 35.1% | 8.0% | 17% |
| GGGGraco Inc. | $11B | 21.1× | 14.4× | 52.0% | 22.4% | 20% |
| IEXIDEX Corporation | $17B | 32.3× | 19.3× | 44.9% | 14.6% | 13% |
| ITTITT Inc. | $18B | 40.2× | 19.8× | 35.5% | 8.1% | 9% |
| PHParker-Hannifin Corporation | $113B | 30.2× | 21.2× | 37.7% | 16.6% | 25% |
- The list of companies is the data vendor's choice, so it can include a company a person would not have picked.
Market value: the share price times the number of shares — what the whole company is priced at.
P/E: the share price divided by one year of profit per share — roughly how many years of today's profit the price pays for. A company that loses money has no P/E.
EV/EBITDA: the price of the whole company (its shares plus its debt, minus its cash) divided by one year of operating profit before interest, tax and write-downs.
Gross margin: the share of each $1 of sales left after the direct cost of making what was sold.
Net margin: the share of each $1 of sales kept as profit after every cost. Below zero, the company lost money.
ROE: return on equity: one year of profit as a share of the shareholders' money in the business (its book value).
Is it priced high or low compared with its own past?
Priced at 30.8× its last 12 months of profit (Tue 27 Oct close). It has no full fiscal year on file since its history starts, so there is nothing of its own to compare with.
- Now30.8×
P/E: the share price divided by one year of profit per share — roughly how many years of today's profit the price pays for. A company that loses money has no P/E.
Fiscal year (FY): the company's own 12-month accounting year, which need not match the calendar year.
How has its sector been priced?
Industrials companies on the NYSE were priced at a typical 33.7× their yearly profit (Tue 27 Oct close).
- Now33.7×
- Each year is the middle of that calendar year's daily sector P/E; "Now" is the Tue 27 Oct close figure, the same one in the table above.
Sector P/E: the middle P/E of the companies in the same sector on the same stock exchange, as the data vendor works it out each day.
What does a cash-flow model say a share is worth?
A standard cash-flow model puts it at $47 a share — 37% below the $75.51 price it was computed against (27 Oct).
| Model | Value a share | Against the price then |
|---|---|---|
| Standard | $47 | 37% below $75.51 |
| Levered | $58 | 23% below $75.51 |
Discounted cash flow: a model's estimate of what the company is worth today, from the cash it is forecast to make in future years. Small changes in the forecast move it a lot, and it says little about a company that loses money.
Standard / levered: two versions of the cash-flow model: the standard one counts the cash before the company pays its lenders, the levered one after.