CHART INDUSTRIES INC (GTLS) FY2025 10-K Annual Report
CHART INDUSTRIES INC (GTLS) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 27, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
CHART INDUSTRIES INC FY2025 10-K Analysis
Business Overview
- • Core business: Design, engineering, manufacturing of process technologies and equipment for gas and liquid molecule handling in clean energy and industrial markets
- • New segment: Acquisition of Howden for $4.4B in March 2023, expanding global air and gas handling product offerings
- • Strategic shift: Terminated $266M Flowserve merger in July 2025; entered Baker Hughes merger agreement expected Q2 2026 closing
- • Notable metric: Sales growth to $4.3B in 2025, up from $4.2B in 2024 and $3.4B in 2023, reflecting robust expansion
- • Unusual fact: Paid $266M termination fee to Flowserve, highlighting significant strategic transaction pivot within filing year
Management Discussion & Analysis
- • Revenue $4,264M, up 2.5% YoY from $4,160M, driven by Heat Transfer Systems (+$202M) sales increase
- • Operating margin 8.4% vs 15.6% YoY, decline mainly due to $266M termination fee expense on Flowserve merger termination
- • Best segment: Heat Transfer Systems sales $1,238M (+19.5%), operating margin 29.4% vs 22.5%, operating income up 56.2% to $364M
- • Worst segment: Repair, Service & Leasing sales $1,304M (-5%), operating margin 20.6% vs 25.5%, operating income down 23.2% to $269M
- • Cash from operations $293M, down $210M YoY; Capex $90M; financing activities used $155M; cash increased $57.4M to $366M
- • 2026 capex guidance approx. $120M; management expects cash flows, available credit facilities sufficient for working capital and debt repayments
- • Key risks: $266M termination fee, integration and costs related to proposed Baker Hughes merger, potential Put Option exercise on HTEC shares not expected before 2028
Risk Factors
- • Termination payment $266M to Flowserve for abandoned merger, reflecting significant legal contract risk under Merger Agreement provisions
- • Geopolitical exposure to Russia-Ukraine conflict, US-China tensions, Middle East unrest impacting supply chains and project timing globally
- • Dependence on global supply chains with 62 manufacturing sites and 50 service centers, vulnerable to global trade policy unpredictability and tariffs
- • Merger integration risk with Baker Hughes pending regulatory approvals, closing delayed beyond stockholder approval in Oct 2025, now expected Q2 2026
- • Potential financial strain from $266M termination fee affecting liquidity and capital structure during transition period
CHART INDUSTRIES INC FY2025 Key Financial MetricsXBRL
Revenue
$4.3B
▲ +2.5% YoY
Net Income
$41M
▼ -81.4% YoY
Gross Margin
33.7%
▲ +34bp YoY
Operating Margin
8.4%
▼ -716bp YoY
Net Margin
1.0%
▼ -430bp YoY
ROE
1.3%
▼ -646bp YoY
Total Assets
$9.8B
▲ +7.5% YoY
EPS (Diluted)
$0.30
▼ -92.7% YoY
Operating Cash Flow
$293M
▼ -41.8% YoY
Source: XBRL data from CHART INDUSTRIES INC FY2025 10-K filing on SEC EDGAR. All figures in USD.
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