HI Hillenbrand, Inc.

Overview and Growth

In fiscal 2025, Hillenbrand, Inc. recorded $2.67B of revenue, net income of $43.10M, and an operating cash inflow of $56.20M. Revenue of $2.67B sets the scale for evaluating how effectively sales translated into profit and cash during the year. The top line contracted 16.0% from $3.18B in fiscal 2024; this top-line contraction left the company with a smaller revenue base. Diluted earnings per share were $0.61, translating the period’s attributable earnings into the amount reported for each diluted share. Total assets stood at $4.47B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. The revenue-to-assets relationship was 0.6x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

Gross profit was $900.80M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross margin was 33.7%, so that share of each revenue unit remained after the cost of revenue reported for the period. Net income came to $43.10M, completing the progression from revenue through gross and operating profitability to the final reported result. Net margin was 1.6%, meaning that this portion of revenue remained as net income after all recognized expenses. The reported tax benefit was $54.50M, favorably bridging the pretax and after-tax results. Return on period-end equity was 3.0%, relating annual net income to the equity capital on the balance sheet. Net income represented 1.0% of period-end assets, placing the company’s bottom-line result against the total resource base employed.

Liquidity and Capital Structure

Total assets were $4.47B, supported by $3.04B of liabilities and $1.42B of shareholder equity. Current assets were $1.24B against $1.02B of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered current liabilities by 1.22x, leaving a positive buffer for near-term obligations. The company held $164.80M in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 16.1% of current liabilities, showing how much near-term coverage came from cash alone. The company carried $1.52B of total debt at period end, which frames its leverage and debt-service burden. The debt-to-equity relationship was 1.07x, showing how much debt the company carried for each unit of book equity. Debt represented 34.1% of total assets, placing borrowing in the context of the company’s full resource base. Relative to total assets, liabilities measured 68.1%, complementing the separate equity-based view of the company’s capital structure. The cash-to-assets relationship was 3.7%, comparing reported cash and equivalents with the full positive asset balance. Compared with $5.24B in fiscal 2024, the current asset base moved 14.7% and finished lower. Reported equity changed 2.3% from $1.46B in fiscal 2024, placing the current capital base lower year over year. Compared with $199.30M in fiscal 2024, the current cash balance moved 17.3% and finished lower.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $56.20M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. The operating-cash-flow-to-net-income relationship was 1.3x, comparing cash generated by operations with the bottom-line earnings result. Capital spending was $38.30M, absorbing part of the cash generated from operations before free cash flow. Capital spending absorbed 68.1% of operating cash flow, quantifying the share of cash from operations directed to investment. After capital spending, free cash flow was $17.90M, leaving cash available for debt reduction, shareholder returns, or further investment. The free-cash-flow margin was 0.7%, measuring cash remaining after capital spending against revenue. The free-cash-flow-to-assets relationship was 0.4%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Sep 30, 2025. Analysis generated Oct 21, 2026.