CompaniesRanked

2874 companies · fiscal year 2025 · SEC EDGAR · September 25, 2026

Industrials companies with the highest free cash flow

Free cash flow is operating cash flow minus capital expenditure: what is left once the company has paid to maintain and expand its asset base. We calculate it from two lines in the same filing, and a company is only ranked here if it reported both. Figures are for fiscal year 2025 and are read directly from each company's SEC filings; the source column on every row links to the document.

Ranks 1–100 of 367 · Fiscal year 2025 · Data as of September 25, 2026

ASML Holding (ASML) tops the list with $12.5B in free cash flow for fiscal 2025, ahead of Booking Holdings ($9.1B) and Caterpillar ($8.9B). The top 10 together report $73.0B in free cash flow; the gap between #1 and #10 is ×2.45. 367 companies in Industrials report free cash flow, 17.6% of the 2084-filer universe. The last place on the list, Lennox International, comes in at $639M.

Free cash flow
#CompanyFree cash flowYoY15-year trend
1ASML HoldingASMLNL$12.5B+27.2%
2Booking HoldingsBKNGUS$9.1B+15.1%
3CaterpillarCATUS$8.9B−11.2%
4RTXRTXUS$7.9B+75.1%
5Lockheed MartinLMTUS$6.9B+30.7%
6DeereDEUS$6.1B−19.7%
7Union PacificUNPUS$5.5B−6.7%
8S&P GlobalSPGIUS$5.5B−2.0%
9Honeywell InternationalHONUS$5.4B+3.8%
10FedExFDXUS$5.1B+71.6%
11Lam ResearchLRCXUS$4.9B−9.7%
12United Parcel ServiceUPSUS$4.8B−23.3%
13AirbnbABNBUS$4.6B+48.8%
14SeaSESG$4.5B+52.4%
15General DynamicsGDUS$4.0B+23.9%
16Delta Air LinesDALUS$3.8B+33.2%
17Aercap HoldingsAERIE$3.6B−$706M
18EatonETNIE$3.6B+1.0%
19Parker-HannifinPHUS$3.3B+12.0%
20Northrop GrummanNOCUS$3.3B+26.2%
21Horton D RDHIUS$3.3B+62.2%
22TE ConnectivityTELIE$3.2B+14.5%
23Expedia GroupEXPEUS$3.1B+33.5%
24Illinois Tool WorksITWUS$2.7B−4.8%
25CarnivalCCLUS$2.6B+101.0%
26MoodysMCOUS$2.6B+2.1%
27United AirlinesUALUS$2.6B−33.2%
28Canadian National RailwayCNICA$2.4B+5.5%
29CumminsCMIUS$2.4B+755.2%
30PaychexPAYXUS$2.3B+35.8%
31Norfolk SouthernNSCUS$2.2B+29.1%
32Carrier GlobalCARRUS$2.1B+4,720.5%
33Johnson Controls InternationalJCIIE$2.1B+97.4%
34Latam AirlinesLTMCL$2.0B+10.1%
35SyscoSYYUS$1.9B+20.8%
36Brookfield Business PartnersBBUCBM$1.8B+192.3%
37TransDigm GroupTDGUS$1.8B−3.4%
38PulteGroupPHMUS$1.7B+11.9%
39CSXCSXUS$1.7B−37.0%
40ADTADTUS$1.7B−0.7%
41Quanta ServicesPWRUS$1.6B+9.7%
42Ferguson EnterprisesFERGUS$1.6B+6.8%
43Canadian Pacific Kansas CityCPCA$1.6B−11.5%
44Westinghouse Air Brake TechnologiesWABUS$1.5B−7.9%
45TD SynnexSNXUS$1.4B+33.3%
46GarminGRMNCH$1.4B+10.0%
47W.W. GraingerGWWUS$1.3B−15.2%
48Royal Caribbean CruisesRCLUS$1.2B−38.1%
49Ingersoll RandIRUS$1.2B−2.2%
50Emcor GroupEMEUS$1.2B−10.8%
51GartnerITUS$1.2B−15.0%
52EquifaxEFXUS$1.1B+39.5%
53DoverDOVUS$1.1B+21.5%
54Crown HoldingsCCKUS$1.1B+41.6%
55NVRNVRUS$1.1B−18.5%
56Teledyne TechnologiesTDYUS$1.1B−3.1%
57United RentalsURIUS$1.1B−50.5%
58Comfort Systems USAFIXUS$1.0B+39.8%
59Performance FoodPFGCUS$1.0B+46.2%
60Toll BrothersTOLUS$1.0B+9.6%
61Snap-OnSNAUS$1.0B−11.3%
62ZTO Express (Cayman)ZTOCN$966M+13.3%
63US FoodsUSFDUS$959M+15.1%
64Old Dominion Freight LineODFLUS$955M+7.6%
65Expeditors International of WashingtonEXPDUS$953M+39.6%
66Booz Allen HamiltonBAHUS$951M+4.4%
67Hunt J B Transport ServicesJBHTUS$948M+53.4%
68TextronTXTUS$929M+42.9%
69Herc HoldingsHRIUS$928M−12.8%
70XylemXYLUS$910M−3.4%
71SkywestSKYWUS$908M+40.3%
72C. H. Robinson WorldwideCHRWUS$895M+84.0%
73Regal RexnordRRXUS$893M+78.7%
74MascoMASUS$866M−4.5%
75HeicoHEIUS$861M+40.3%
76LKQLKQUS$847M+4.6%
77Zebra TechnologiesZBRAUS$831M−12.9%
78SymboticSYMUS$825M−$315M
79Huntington Ingalls IndustriesHIIUS$794M+2,953.8%
80BallBALLUS$788M+$1.2B
81Ingram MicroINGMUS$785M+310.9%
82Taylor Morrison HomeTMHCUS$777M+347.2%
83Rentokil InitialRTOGB$764M+17.7%
84PentairPNRGB$746M+7.8%
85AgcoAGCOUS$740M+149.6%
86Willscot HoldingsWSCUS$738M+35.8%
87GenpactGBM$735M+37.9%
88Tfi InternationalTFIICA$705M+5.2%
89Stanley Black & DeckerSWKUS$688M−8.6%
90AllegionALLEUS$686M+17.6%
91AECOMACMUS$685M−3.2%
92EmbraerEMBJBR$683M+1.8%
93Dominos PizzaDPZUS$672M+31.2%
94FrontlineFRO$670M+$849M
95Api GroupAPGUS$663M+23.7%
96TransunionTRUUS$662M+28.0%
97NordsonNDSNUS$661M+34.4%
98BRPDOOCA$655M+207.5%
99RollinsROLUS$650M+12.1%
100Lennox InternationalLIIUS$639M−18.3%

All figures from SEC filings · FY2025 · 100

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{{cite web |title=Industrials companies with the highest free cash flow |url=https://companiesranked.com/en/industrial-companies-with-the-highest-free-cash-flow |website=CompaniesRanked |date=2026-09-25 |language=en}}

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@misc{companiesranked-en-industrial-companies-with-the-highest-free-cash-flow-2026,
  author       = {{CompaniesRanked}},
  title        = {{Industrials companies with the highest free cash flow}},
  year         = {2026},
  howpublished = {\url{https://companiesranked.com/en/industrial-companies-with-the-highest-free-cash-flow}},
  note         = {Compiled from SEC EDGAR XBRL filings; data as of 2026-09-25},
  urldate      = {2026-09-25}
}

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