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Ingersoll Rand

ir · NYSE Industrials
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Ticker ir
Exchange NYSE
Sector Industrials
Industry Industrial - Machinery
Employees 10,000+
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FY2025 Annual Report · Ingersoll Rand
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2025
Annual Report

Ingersoll Rand Inc. (NYSE:IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to Making Life Better for our employees, customers, 
shareholders, and planet. Customers lean on us for exceptional performance and durability in mission-critical flow creation and life science and industrial 
solutions. Supported by over 80+ respected brands, our products and services excel in the most complex and harsh conditions. Our employees develop 
customers for life through their daily commitment to expertise, productivity, and efficiency. For more information, visit www.IRCO.com.
Introduction 02
Letter to Shareholders 03
Segment Overviews 06 
2025 Highlights 07
Leadership 09
2025 Annual Report on Form 10-K
Forward-Looking Statements and Reconciliation 
of GAAP Measures to Non-GAAP Measures Annex A         
Corporate Information Back Cover    
Contents

Lean on us to help you make 
life better is deeply embedded 
in all that we do. We wake up 
each and every day with the goal 
of Making Life Better for our 
employees, our customers, our 
shareholders, and our planet.
For our
Employees
For our
Customers
For our
Shareholders
For our
Planet
Ingersoll Rand is driven by an entrepreneurial 
spirit and ownership mindset and is dedicated 
to Making Life Better for our employees, 
customers, shareholders, and planet. 
Customers lean on us for exceptional performance 
and durability in mission-critical flow creation 
and life science and industrial solutions. 
Our success is made possible by our 21,700+ 
employees (and counting!). Powered by an ownership 
mindset and more than 165 years of expertise, we 
are driving differentiated performance with purpose.
Introduction
Our Purpose
02

Dear Shareholders, 
2025 strengthened Ingersoll Rand as a durable 
compounding business, delivering consistent growth, 
strong free cash flow, and disciplined capital allocation 
in a dynamic environment. Orders grew 9% year-over-year, 
and revenues increased 6%. Free Cash Flow (FCF) exceeded 
$1.2 billion.1 Additionally, we deployed $525 million into 
strategic acquisitions while returning more than $1 billion 
to shareholders through dividends and share repurchases.
These results reflect our identity as a 
growth compounder, a company focused 
on durable, long-term value creation. Our 
guiding principles include a culture driven 
by an ownership mindset, the Ingersoll Rand 
Execution Excellence (IRX)® business system, 
a disciplined approach towards mergers and 
acquisitions (M&A), and our commitment to 
organic growth. These guide every decision 
we make, powered our achievements in 
2025, and continue to shape our future.
Letter to Shareholders
03
A culture of ownership and engagement
Our ownership culture is a competitive advantage that 
directly translates into performance. When employees 
think and act like owners, we see stronger execution, 
better discipline, and higher returns on capital. Through 
our Ownership Works program, we align employees 
with shareholders by providing equity participation after 
one year of service, whether they joined as a new hire 
or through an acquisition.2 This program reinforces 
each person’s stake in the company and recognizes 
the difference their work makes to our shared goals 
— aligning their interests with shareholders.
In 2025, we granted equity to more than 3,600 employees. 
The Ownership Works program, now valued at approximately 
$1 billion since its inception,3 reinforces accountability, 
engagement, and long-term value creation. 
Our people remain the greatest asset in our growth 
journey, and we are committed to creating an environment 
where everyone feels valued and supported. In the past 
year, we continued leadership development programs 
and introduced new tools and capabilities powered by 
artificial intelligence. Through professional development 
and skills-based learning, we provide opportunities 
for growth at every stage of our employees’ careers.
Employee engagement continues to be a priority, 
and the results speak for themselves. Our annual 
engagement survey score placed us among the top 10% 
of manufacturing organizations for the fourth consecutive 
year.4 Additionally, we continue to earn Great Place to 
Work certifications in multiple countries and received 
several country-specific HR awards, reflecting our 
commitment to building a workplace where people thrive.
Vicente Reynal
Chairman and 
Chief Executive Officer
1 Non-GAAP measure (definitions and/or reconciliations in Annex A). 2 Employees must be full-time and have one year of service to be eligible. Not available to employees who participate in 
the Company’s management equity program or where prohibited by local law or regulation or where such grant is required to be bargained for with an employee union unless such grant is 
agreed to as part of such bargaining. 3 Represents the value of all Ownership Works grants, Merger grants, and IPO grants at their respective grant dates through December 31, 2025 calculated 
as the increase in value of all Ownership Works grants, Merger grants, and IPO grants from their respective grant date through December 31, 2025. Assumes all employees have held the 
grants as of December 31, 2025. 4 Employee Engagement Survey from third-party provider Glint, who administers the survey and provides comparable employee engagement survey figures.

04
04
IRX: Our operating system for success
IRX is our core operating advantage, enabling speed, 
transparency, and repeatability across the organization. 
It allows us to identify issues early, act quickly, and 
scale best practices across the enterprise, particularly 
in integrating acquisitions and driving margin expansion.
In 2025, more than 7,500 employees participated 
in weekly execution cadences, reinforcing a culture 
of accountability and results.5 IRX ensures issues 
surface quickly and solutions happen fast, 
creating immediate and sustained progress. 
IRX is a critical element to our continued resilience 
and success as a growth compounder. 
Fueling growth through 
disciplined capital deployment
Capital allocation remains our most important 
lever for long-term value creation. We follow 
a clear and consistent framework: 
1. Reinvest in high-return organic growth 
2. Execute disciplined, programmatic M&A 
3. Return excess capital to shareholders
Our disciplined M&A process focuses on 
cultivating proprietary opportunities, typically 
founder-owned companies, acquired at attractive 
multiples and enhanced through IRX execution. 
We have a robust pipeline that supports our 
continued ability to drive programmatic M&A.
Since the Merger in 20206, we have completed 
75 acquisitions and welcomed thousands of new 
employees using the IRX process. What we do in the 
first 100 days after acquiring a new business matters, 
so we focus on acceleration, not just integration. 
IRX enables us to focus quickly and maximize cohesion 
and collaboration, making every acquisition count.
Our capital-light business model has generated 
strong FCF, which we have deployed into M&A, 
share repurchases, and dividends, and we 
expect similar deployment in the future. 
Driving sustainable growth
Since the Merger, we have:
• Delivered a 12% revenue compound 
annual growth rate (CAGR) 
• Expanded Adjusted EBITDA margins by 590 basis points7 
• Grown FCF at a 10% CAGR7 
We operate in large, fragmented markets with a total 
addressable market exceeding $75 billion, providing a 
long runway for continued growth.8 As global demand 
increases for productivity-enhancing solutions that 
drive the cost of energy and water consumption lower, 
advance infrastructure applications closer to customer 
consumption, and accelerate healthcare innovation, 
the need for our market-leading technologies and 
innovative solutions will continue to grow. Our products 
are mission-critical to our customers’ own value-
generating processes, which we believe establishes 
us an indispensable partner in their success.
We talk a lot about controlling what we can control, 
and we hold ourselves accountable to that ethos 
through two key initiatives: growing recurring revenue 
and driving Demand Generation Excellence (DGX).
In 2025, we grew recurring revenue to more than 
$450 million — a 40% increase from 2024 — moving 
us closer to our long-term 2023 Investor Day goal 
of $1 billion by the end of 2027. These services and 
solutions provide predictable support and maximize 
uptime, creating long-term value for our customers.
Our DGX capabilities, which consist of proprietary 
growth enablers designed to capture market share, are 
a critical differentiator for driving top-line growth and 
improving salesforce productivity. These capabilities give 
us greater control over our future, allowing us to shift 
our end-market focus to higher-growth opportunities.
5 Management estimates. 6On February 29, 2020, Gardner Denver Holdings, Inc.  
closed on the acquisition of Ingersoll Rand plc’s Industrial segment 
(the “Merger”) and changed its name to Ingersoll Rand Inc. 7 Non-GAAP QIEWYVI
HI MRMXMSRWERHSVVIGSRGMPMEXMSRWMR%RRI\%
 Comparison to 2020 is based on
Adjusted Free Cash Flow. 8 Management estimates.

We continue to drive sustainable growth through 
innovative offerings that deliver immediate customer value 
while improving safety, efficiency, and circularity. From 
energy-efficient compressors that lower operating costs to 
water treatment technologies that protect and reuse vital 
energy and water resources, our cutting-edge product and 
service offerings enable customers to advance their own 
sustainability goals through high-efficiency equipment or 
system optimization. We remain committed to our 2030-
2050 environmental, health, and safety targets and to 
making a positive impact on the communities we serve.9
Built for long-term value creation
Every day, everything we do at Ingersoll Rand is rooted 
in our purpose of Making Life Better. Our efforts are 
anchored in five strategic imperatives: Deploy Talent, 
Accelerate Growth, Lead Sustainably, Expand Margins, and 
Allocate Capital Effectively. They are the foundation of a 
company built for sustainable, long-term value creation.
As you read this report, you will see why we are confident 
we have the right foundation for continued success. 
With industry-leading products and services, trusted 
brands, and a culture built on winning together, we are 
well positioned to deliver long-term value and make 
a meaningful impact for our people, our customers, 
our shareholders, and our planet for years to come. 
Vicente Reynal
Chairman and Chief Executive Officer
9 See page 10 of our 2024 Sustainability 
Report for further discussion of these targets.
05

Mission-critical precision liquid, gas, air, 
and powder handling technologies for life 
sciences and industrial applications as well 
as aerospace and defense applications.
Broad range of compressor, vacuum, 
blower, and air treatment solutions as 
well as industrial technologies including 
power tools and lifting equipment.
Revenue
$1.6B
Adj. EBITDA Margin
30%
Adj. EBITDA
$0.5B
Revenue
$6.1B
Adj. EBITDA Margin
28.9%
Adj. EBITDA
$1.7B
Precision 
& Science 
Technologies (P&ST)
Segment Overviews
Industrial 
Technologies 
& Services (IT&S)
A
P
A
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1
8
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3
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3
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06

2025 
Highlights
Acquisitions completed in 2025
Expanding capabilities and 
strengthening our global portfolio
16
The approximate value of 
Ownership Works, Merger, and IPO grants10
~$1B
Employees worldwide
A global workforce 
supporting customers across 
the Americas, EMEIA, and APAC
21,700+
U.S.
Canada
Ireland
U.K.
China
Greece
Italy
Mexico
Brazil
"Our results reflect Ingersoll Rand's identity as a 
growth compounder, a company focused on durable, 
long-term value creation. Our guiding principles 
include a culture driven by an ownership mindset, the 
Ingersoll Rand Execution Excellence (IRX)® business 
system, a disciplined approach towards mergers and 
acquisitions, and our commitment to organic growth."
Vicente Reynal
Chairman and Chief Executive Officer
10 Represents the value of all Ownership Works grants, Merger grants, and IPO grants at their respective grant dates through 
December 31, 2025, calculated as the increase in value of all Ownership Works grants, Merger grants, and IPO grants from their 
respective grant date through December 31, 2025. Assumes all employees have held the grants as of December 31, 2025.
07

Aftermarket 
36%
Equipment 
64%
Revenue by Business Type and Region 
As of 12/31/2025
Comparison of 5-year cumulative total return11
Among Ingersoll Rand, the Russell 2000 Index,  
the S&P 500 Index and the S&P 500 Industrials Index
EMEIA 
34%
APAC 
16%
Americas 
50%
2022
2024
$5.2
$5.9
$6.9
$7.2
2020
2023
2021
$4.3
2025
$7.7
12%  
CAGR
13,14
Revenue Growth ($B)
27.4%
YoY
15.9%
YoY
+9%
YoY
+2%
YoY
+6%
YoY
11 $100 invested on 12/31/20 in stock or index, including reinvestment of dividends. Fiscal year ended December 31. 12 Free Cash Flow Margin defined  
as Free Cash Flow/Revenue. 13 Non-GAAP measure (definitions and or reconciliations in Annex A). 14 2020 revenue is based on Supplemental Adjusted Revenue.
12/23
12/24
12/25
12/22
12/20
12/21
$100
$135
$114
$170
$199
$174
Adj. EBITDA Margin13
Free Cash Flow Margin12,13
Orders
Adj. EPS13
Revenue
Ingersoll Rand
Russell 2000
S&P 500
S&P 500 Industrials
08

Board of Directors
Vicente Reynal
Chairman and Chief Executive Officer, Ingersoll Rand
William P. Donnelly (1, 3*) 
Lead Independent Director, 
Retired Executive Vice President, 
Mettler-Toledo International, Inc.
Jerome Guillen (2, 4)
Former President, Tesla
Jennifer Hartsock (1, 2)
Chief Information and Digital Officer, Cargill
John Humphrey (1*, 4)
Retired Executive Vice President and
Chief Financial Officer, Roper Technologies
Marc E. Jones (2, 4*)
Chief Executive Officer and Chairman, 
Aeris Communications, Inc.
Aurobind Satpathy (3, 4)
Senior Partner, McKinsey & Company
JoAnna L. Sohovich (1, 3)
Chairman, Board of Directors for Chamberlain Group 
and Former Chief Executive Officer, Chamberlain Group
Mark P. Stevenson (2, 3)
Retired Executive Vice President and Chief 
Operating Officer, Thermo Fisher Scientific, Inc.
Michelle Swanenburg (2*, 4)
Head of Human Resources, T. Rowe Price
Company Leadership
Vicente Reynal 
Chairman and Chief Executive Officer
Ricardo Abdalla
Vice President and General Manager, 
Compression Systems and Services and Process Flow 
Technologies, IT&S Latin America and the Caribbean
Giorgio Baima
Vice President and General Manager, 
Process Flow Technologies, IT&S EMEIA
Paul Dick
Senior Vice President and General Manager, 
Compression Systems and Services, IT&S North America
Matt Emmerich 
Senior Vice President and Chief Information Officer
Dave Hetzler
Senior Vice President and General Manager, 
Process Flow Technologies, IT&S North America
Kate Keene
Senior Vice President, Chief Human Resources Officer
Vikram Kini
Senior Vice President, Chief Financial Officer
Arnold Li 
Senior Vice President and General Manager, 
IT&S Asia Pacific, and Global Air and Gas Solutions
Anish Lalla
Vice President and General Manager, Power Tools and Lifting
Elizabeth Meloy Hepding
Senior Vice President, Corporate Development
Andrew Schiesl
Senior Vice President, General Counsel, 
Chief Compliance Officer, and Secretary
Gareth Topping
Senior Vice President and General Manager, 
Compression Systems and Services, IT&S EMEIA
Michael Weatherred
Senior Vice President, Precision and Science Technologies 
(PST) Segment, Demand Generation and Execution
Committees of the Board
(1) Audit
(2) Compensation
(3) Nominating and Corporate Governance
(4) Sustainability
*Denotes Chairperson
Leadership
09

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Annex A
FORWARD-LOOKING STATEMENTS
In addition to historical information, this Annual Report contains ‘‘forward-looking statements’’ within the meaning of the ‘‘safe 
harbor provisions’’ of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts 
included in this Annual Report, including statements concerning our plans, objectives, goals, beliefs, business strategies, future 
events, business conditions, results of operations, financial position, business outlook, business trends and other information, may 
be forward-looking statements. Words such as ‘‘estimates,’’ ‘‘expects,’’ ‘‘contemplates,’’ ‘‘will,’’ ‘‘anticipates,’’ ‘‘projects,’’ ‘‘plans,’’
‘‘intends,’’ ‘‘believes,’’ ‘‘forecasts,’’ ‘‘may,’’ ‘‘should,’’ and variations of such words or similar expressions are intended to identify 
forward-looking statements. The forward-looking statements are not historical facts, and are based upon our current expectations, 
beliefs, estimates and projections, and various assumptions, many of which, by their nature, are inherently uncertain and beyond 
our control. Our expectations, beliefs, estimates and projections are expressed in good faith and we believe there is a reasonable 
basis for them. However, there can be no assurance that management’s expectations, beliefs, estimates, and projections will result 
or be achieved and actual results may vary materially from what is expressed in or indicated by the forward-looking statements.
There are a number of risks, uncertainties, and other important factors, many of which are beyond our control, that could cause our 
actual results to differ materially from the forward-looking statements contained in this Annual Report. Such risks, uncertainties and 
other important factors include, among others, the risks, uncertainties and factors set forth in our Annual Report on Form 10-K as 
such factors may be updated from time to time in our periodic filings with the SEC, which are available on the SEC’s website at 
http://www.sec.gov. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to 
predict all risk factors and uncertainties. Any forward-looking statements speak only as of the date of this Annual Report and we 
undertake no obligation to update any forward-looking statements, whether as a result of new information or development, future 
events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these
forward-looking statements.
RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES
In addition to consolidated GAAP financial measures, Ingersoll Rand reviews various non-GAAP financial measures, including
‘‘Adjusted EBITDA,’’ ‘‘Adjusted EBITDA Margin,’’ ‘‘Adjusted Diluted EPS,’’ ‘‘Supplemental Adjusted EBITDA,’’ ‘‘Supplemental 
Adjusted Revenue,’’ ‘‘Supplemental Adjusted EBITDA Margin,’’ ‘‘Free Cash Flow,’’ ‘‘Free Cash Flow Margin,’’ and ‘‘Adjusted Free 
Cash Flow.’’
Ingersoll Rand believes Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Diluted EPS, Supplemental Adjusted EBITDA, 
Supplemental Adjusted Revenue, and Supplemental Adjusted EBITDA Margin are helpful supplemental measures to assist 
management and investors in evaluating the Company’s operating results as they exclude certain items that are unusual in nature 
or whose fluctuation from period to period do not necessarily correspond to changes in the operations of Ingersoll Rand’s business. 
Ingersoll Rand believes Supplemental Adjusted EBITDA, Supplemental Adjusted Revenue, and Supplemental Adjusted EBITDA 
Margin are helpful supplemental measures to assist management and investors in evaluating the Company’s operating results as it 
provides supplemental information about the Company’s financial performance for 2020 on a combined basis as if the Merger had 
occurred on January 1, 2019.
Adjusted EBITDA represents net income before interest, taxes, depreciation, amortization and certain non-cash, non-recurring and 
other adjustment items. Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by Revenue. Adjusted Diluted EPS is 
defined as Adjusted Net Income Attributable to Ingersoll Rand Inc. divided by Adjusted Diluted Average Shares Outstanding. 
Ingersoll Rand believes that the adjustments applied in presenting Adjusted EBITDA and Adjusted Diluted EPS are appropriate to 
provide additional information to investors about certain material non-cash items and about non-recurring items that the Company 
does not expect to continue at the same level in the future.
Supplemental Adjusted EBITDA represents Adjusted EBITDA as if the Merger had occurred on January 1, 2019. Ingersoll Rand 
believes that the adjustments applied in presenting Adjusted EBITDA and Supplemental Adjusted EBITDA are appropriate to
Ingersoll Rand
A-1
2025 Annual Report

provide additional information to investors about certain material non-cash items and about non-recurring items that the Company
does not expect to continue at the same level in the future. Supplemental Adjusted Revenue represents revenue for the Company
as if the Merger had occurred on January 1, 2019.
Ingersoll Rand uses Free Cash Flow, Free Cash Flow Margin, and Adjusted Free Cash Flow to review the liquidity of its operations.
Ingersoll Rand measures Free Cash Flow as cash flows from operating activities less capital expenditures, and Adjusted Free
Cash Flow as cash flows from operating activities less capital expenditures and other adjustments. Free Cash Flow Margin is
defined as Free Cash Flow divided by Revenue. Ingersoll Rand believes Free Cash Flow, Free Cash Flow Margin, and Adjusted
Free Cash Flow are useful supplemental financial measures for management and investors in assessing the Company’s ability to
pursue business opportunities and investments and to service its debt. Free Cash Flow and Adjusted Free Cash Flow are not
measures of our liquidity under GAAP and should not be considered as an alternative to cash flows from operating activities.
Management and Ingersoll Rand’s board of directors regularly use these measures as tools in evaluating the Company’s operating
and financial performance and in establishing discretionary annual compensation. Such measures are provided in addition to, and
should not be considered to be a substitute for, or superior to, the comparable measures under GAAP. In addition, Ingersoll Rand
believes that Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Diluted EPS, Free Cash Flow, Free Cash Flow Margin, and
Adjusted Free Cash Flow are frequently used by investors and other interested parties in the evaluation of issuers, many of which
also present Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Diluted EPS, Free Cash Flow, Free Cash Flow Margin, and
Adjusted Free Cash Flow when reporting their results in an effort to facilitate an understanding of their operating and financial
results and liquidity.
Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Diluted EPS, Supplemental Adjusted EBITDA, Supplemental Adjusted
Revenue, Supplemental Adjusted EBITDA Margin, Free Cash Flow, Free Cash Flow Margin and Adjusted Free Cash Flow should
not be considered as alternatives to net income, diluted earnings per share or any other performance measure derived in
accordance with GAAP, or as alternatives to cash flow from operating activities as a measure of our liquidity. Adjusted EBITDA,
Adjusted EBITDA Margin, Adjusted Diluted EPS, Supplemental Adjusted EBITDA, Supplemental Adjusted Revenue, Supplemental
Adjusted EBITDA Margin, Free Cash Flow, Free Cash Flow Margin, and Adjusted Free Cash Flow have limitations as analytical
tools, and you should not consider such measures either in isolation or as substitutes for analyzing Ingersoll Rand’s results as
reported under GAAP.
Reconciliations of Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Diluted EPS, Supplemental Adjusted EBITDA,
Supplemental Adjusted Revenue, Supplemental Adjusted EBITDA Margin, Free Cash Flow, Free Cash Flow Margin, and Adjusted
Free Cash Flow to their most comparable U.S. GAAP financial metrics for historical periods are presented in the tables below.
Ingersoll Rand
A-2
2025 Annual Report

INGERSOLL RAND INC. AND SUBSIDIARIES
ADJUSTED FINANCIAL INFORMATION
(Dollars in millions)
FOR THE YEARS ENDED DECEMBER 31,
2025
2024
2023
2022
2021
Revenues
$7,650.9
$7,235.0
$6,876.1
$5,916.3
$5,152.4
Adjusted EBITDA
$2,093.8
$2,018.1
$1,786.8
$1,434.8
$1,191.9
Adjusted EBITDA Margin
27.4%
27.9%
26.0%
24.3%
23.1%
Adjusted Diluted EPS
$3.34
$3.29
$2.96
$2.36
$2.09
Free Cash Flow
$1,220.1
$1,247.6
$1,272.0
$770.8
$563.7
Free Cash Flow Margin
15.9%
17.2%
18.5%
13.0%
10.9%
Ingersoll Rand
A-3
2025 Annual Report

INGERSOLL RAND INC. AND SUBSIDIARIES
RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA AND ADJUSTED NET INCOME AND CASH
FLOWS FROM OPERATING ACTIVITIES FROM CONTINUING OPERATIONS TO FREE CASH FLOW
(Unaudited; in millions)
FOR THE YEARS ENDED DECEMBER 31,
2025
2024
2023
2022
2021
Net Income
$
588.8
$
846.3
$
785.1
$
608.5
$
565.0
Less: Income from discontinued operations
—
—
—
0.5
121.0
Less: Income tax benefit (provision) from discontinued operations
—
—
—
14.7
(79.4)
Income from Continuing Operations, Net of Tax
588.8
846.3
785.1
593.3
523.4
Plus:
Interest expense
253.9
213.2
156.7
103.2
87.7
Provision (benefit) for income taxes
219.4
262.5
240.0
149.6
(21.8)
Depreciation expense
113.8
105.0
87.9
81.8
85.1
Amortization expense
387.5
373.0
367.5
347.6
332.9
Impairment of intangible assets
273.4
13.9
—
—
—
Restructuring and related business transformation costs
51.7
32.3
22.9
32.3
18.8
Acquisition and other transaction related expenses and non-cash
charges
26.0
59.8
63.9
40.7
65.2
Stock-based compensation
53.0
58.8
51.9
85.6
95.9
Foreign currency transaction losses (gains), net
18.6
3.2
5.1
(5.9)
(12.0)
Loss (income) on equity method investments
127.1
24.0
6.0
(0.7)
11.4
Loss on extinguishment of debt
—
3.0
13.5
1.1
9.0
Adjustments to LIFO inventories
17.8
6.7
12.0
36.1
33.2
Cybersecurity incident costs
(1.3)
0.5
2.3
—
—
Loss on asbestos sale
—
58.8
—
—
—
Gain on settlement of post-acquisition contingencies
—
—
—
(6.2)
(30.1)
Interest income on cash and cash equivalents
(30.0)
(43.3)
(28.8)
(8.0)
—
Other adjustments
(5.9)
0.4
0.8
(15.7)
(6.8)
Adjusted EBITDA
$2,093.8
$2,018.1
$1,786.8
$1,434.8
$1,191.9
Minus:
Interest expense
253.9
213.2
156.7
103.2
87.7
Income tax provision, as adjusted
397.9
385.2
345.2
267.3
120.7
Depreciation expense
113.8
105.0
87.9
81.8
85.1
Amortization of non-acquisition related intangible assets
10.1
8.7
10.0
18.8
17.0
Interest income on cash and cash equivalents
(30.0)
(43.3)
(28.8)
(8.0)
—
Adjusted Net Income
$1,348.1
$1,349.3
$1,215.8
$
971.7
$
881.4
Free Cash Flow:
Cash flows from operating activities from continuing operations
1,355.7
1,396.7
1,377.4
865.4
627.8
Minus:
Capital expenditures
135.6
149.1
105.4
94.6
64.1
Free Cash Flow
$1,220.1
$1,247.6
$1,272.0
$
770.8
$
563.7
Ingersoll Rand
A-4
2025 Annual Report

INGERSOLL RAND INC. AND SUBSIDIARIES
RECONCILIATION OF NET INCOME TO ADJUSTED NET INCOME ATTRIBUTABLE TO
INGERSOLL RAND INC. AND ADJUSTED DILUTED EARNINGS PER SHARE
(Unaudited; in millions)
FOR THE YEARS ENDED DECEMBER 31,
2025
2024
2023
Net Income
$
588.8
$
846.3
$
785.1
Plus:
Provision for income taxes
219.4
262.5
240.0
Amortization of acquisition related intangible assets
377.4
364.3
357.5
Impairment of intangible assets
273.4
13.9
—
Restructuring and related business transformation costs
51.7
32.3
22.9
Acquisition and other transaction related expenses and non-cash charges
26.0
59.8
63.9
Stock-based compensation
53.0
58.8
51.9
Foreign currency transaction losses (gains), net
18.6
3.2
5.1
Loss on equity method investments
127.1
24.0
6.0
Loss on extinguishment of debt
—
3.0
13.5
Adjustments to LIFO inventories
17.8
6.7
12.0
Cybersecurity incident costs
(1.3)
0.5
2.3
Loss on asbestos sale
—
58.8
—
Other adjustments
(5.9)
0.4
0.8
Minus:
Income tax provision, as adjusted
397.9
385.2
345.2
Adjusted Net Income
1,348.1
1,349.3
1,215.8
Less: Net income attributable to noncontrolling interest
7.4
7.7
6.4
Adjusted Net Income Attributable to Ingersoll Rand Inc.
$1,340.7
$1,341.6
$1,209.4
Adjusted Basic Earnings Per Share(1)
$
3.37
$
3.33
$
2.99
Adjusted Diluted Earnings Per Share(2)
$
3.34
$
3.29
$
2.96
Average shares outstanding:
Basic, as reported
398.1
403.4
404.8
Diluted, as reported
401.0
407.2
409.0
Adjusted diluted(2)
401.0
407.2
409.0
1.
Basic and diluted earnings per share (as reported) are calculated by dividing net income attributable to Ingersoll Rand Inc. by the basic and diluted average shares
outstanding for the respective periods.
2.
Adjusted diluted share count and adjusted diluted earnings per share include incremental dilutive shares, using the treasury stock method, which are added to
average shares outstanding.
Ingersoll Rand
A-5
2025 Annual Report

INGERSOLL RAND INC. AND SUBSIDIARIES
RECONCILIATION OF DILUTED NET INCOME PER SHARE TO
ADJUSTED DILUTED EARNINGS PER SHARE
(Unaudited; in millions, except per share amounts)
FOR THE YEARS ENDED
DECEMBER 31,
2022
2021
Diluted Net Income Per Share (As Reported)(1)
$ 1.47
$ 1.34
Less: Diluted Net Income Per Share from Discontinued Operations (As Reported)(1)
0.04
0.10
Diluted Net Income Per Share from Continuing Operations (As Reported)(1)
1.44
1.24
Plus:
Provision (benefit) for income taxes
0.36
(0.05)
Amortization of acquisition related intangible assets
0.80
0.75
Restructuring and related business transformation costs
0.08
0.05
Acquisition related expenses and non-cash charges
0.10
0.15
Stock-based compensation
0.21
0.23
Foreign currency transaction gains, net
(0.01)
(0.03)
Loss on equity method investments
—
0.03
Loss on extinguishment of debt
—
0.02
Adjustments to LIFO inventories
0.09
0.08
Gain on settlement of post-acquisition contingencies
(0.02)
(0.07)
Other adjustments
(0.04)
(0.02)
Minus:
Income tax provision, as adjusted
0.65
0.29
Adjusted Diluted Earnings Per Share(2)
$ 2.36
$ 2.09
Average shares outstanding:
Basic, as reported
405.3
414.8
Diluted, as reported
410.2
421.2
Adjusted diluted(2)
410.2
421.2
1.
Basic and diluted earnings per share (as reported) are calculated by dividing net income attributable to Ingersoll Rand Inc. by the basic and diluted average shares
outstanding for the respective periods.
2.
Adjusted diluted share count and adjusted diluted earnings per share include incremental dilutive shares, using the treasury stock method, which are added to
average shares outstanding.
Ingersoll Rand
A-6
2025 Annual Report

INGERSOLL RAND INC. AND SUBSIDIARIES
RECONCILIATION OF CASH FLOW FROM OPERATING ACTIVITIES FROM CONTINUING OPERATIONS TO
ADJUSTED CASH FLOW FROM OPERATING ACTIVITIES TO ADJUSTED FREE CASH FLOW
(Unaudited; in millions)
FOR THE YEAR ENDED
DECEMBER 31, 2020
Cash Flow from Operating Activities from Continuing Operations
$653.5
Plus:
Synergy delivery and stand-up related costs
153.4
Adjusted Cash Flow from Operating Activities
806.9
Minus:
Capital expenditures
42.0
Adjusted Free Cash Flow
$764.9
Ingersoll Rand
A-7
2025 Annual Report

INGERSOLL RAND INC. AND SUBSIDIARIES
SUPPLEMENTAL ADJUSTED COMBINED FINANCIAL INFORMATION
(Unaudited; in millions)
FOR THE YEAR ENDED
DECEMBER 31, 2020
Ingersoll Rand
Supplemental Adjusted Revenue (non-GAAP)
$4,344.4
Supplemental Adjusted EBITDA (non-GAAP)
$
933.9
Supplemental Adjusted EBITDA Margin (non-GAAP)
21.5%
Ingersoll Rand
A-8
2025 Annual Report

INGERSOLL RAND INC. AND SUBSIDIARIES
SUPPLEMENTAL ADJUSTED COMBINED FINANCIAL INFORMATION
RECONCILIATION OF GAAP REVENUE TO SUPPLEMENTAL ADJUSTED REVENUE BY SEGMENT AND FOR
THE COMPANY
(Unaudited; in millions)
FOR THE YEAR ENDED DECEMBER 31, 2020
GAAP REVENUE
ADJUSTMENTS(1)
SUPPLEMENTAL ADJUSTED
REVENUE
Segment
Industrial Technologies & Services
$3,248.2
$291.8
$3,540.0
Precision & Science Technologies
725.0
79.4
804.4
Total Company
$3,973.2
$371.2
$4,344.4
ADJUSTED
EBITDA
ADJUSTMENTS(1)
SUPPLEMENTAL ADJUSTED
EBITDA
Segment
Industrial Technologies & Services
$759.8
$40.3
$
800.1
Precision & Science Technologies
220.2
20.4
240.6
Total Segments
$980.0
$60.7
$1,040.7
1.
For the year ended December 31, 2020, the “Adjustments” column represents the impact of two months (January and February of 2020) of standalone legacy
Ingersoll Rand Industrial Segment activity. As it relates to adjustments to Segment Adjusted EBITDA,these amounts are impacted by the merged Company's
corporate costs, a portion of which is allocated to the business segments.
Ingersoll Rand
A-9
2025 Annual Report

INGERSOLL RAND INC. AND SUBSIDIARIES
SUPPLEMENTAL ADJUSTED COMBINED FINANCIAL INFORMATION
RECONCILIATION OF GAAP NET INCOME (LOSS) TO ADJUSTED EBITDA
AND SUPPLEMENTAL ADJUSTED EBITDA
(Unaudited; in millions)
FOR THE YEAR ENDED
DECEMBER 31, 2020
Net Income (Loss) (GAAP)
$ (32.4)
Less: Income from discontinued operations
26.0
Less: Income tax provision from discontinued operations
(1.6)
Income (loss) from continuing operations, net of tax
(56.8)
Plus(1):
Interest expense
111.1
Provision for income taxes
11.4
Depreciation expense
75.3
Amortization expense
335.1
Impairment of intangible assets
19.9
Restructuring and related business transformation costs
88.0
Acquisition related expenses and non-cash charges
181.5
Stock-based compensation
47.0
Foreign currency transaction losses, net
18.6
Loss on extinguishment of debt
2.0
Shareholder litigation settlement recoveries
—
Adjustments to LIFO inventories
39.8
Other adjustments
5.2
Adjusted EBITDA(1)
878.1
Additional Segment Adjusted EBITDA Adjustments(2):
Industrial Technologies & Services
$ 40.3
Precision & Science Technologies
20.4
Incremental corporate expenses not allocated to segments
(4.9)
Supplemental Adjusted EBITDA
933.9
1.
These amounts are reported in accordance with US GAAP and have not been adjusted to reflect the pro forma impact of a full quarter of the combined Ingersoll
Rand.
2.
These ‘‘Additional Segment Adjusted EBITDA Adjustments’’ represent the impact of two months (January and February of 2020) of standalone legacy Ingersoll
Rand Industrial Segment activity in the twelve month period ended December 31, 2020. The incremental corporate expenses not allocated to segments represent
additional corporate expenses incurred by the Company to operate the combined Ingersoll Rand.
Ingersoll Rand
A-10
2025 Annual Report

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Corporate Information 
 
Annual Meeting  
Ingersoll Rand’s annual meeting of stockholders will be held 
virtually on Thursday, June 11, 2026, at 10:30 a.m. Eastern Time.  
Please go to investors.irco.com for more information.
Transfer Agent/Stockholder Services  
Equiniti Trust Company, LLC  
P.O. Box 500 
Newark, NJ 07101 
(800) 937-5449 or (718) 921-8124  
helpAST@equiniti.com 
www.equiniti.com
Listing of Common Stock 
New York Stock Exchange; Symbol – IR 
Form 10-K Report/Stockholder Information   
A copy of Ingersoll Rand’s 2025 Annual Report on Form 10-K 
(without exhibits) as filed with the Securities and Exchange 
Commission is included in this report. Stockholder information, 
including news releases, presentations, webcasts, and SEC 
filings is available on Ingersoll Rand’s website: www.irco.com.
Independent Registered Public Accounting Firm
Deloitte & Touche LLP
Trademarks 
Trademarks appearing in this document  
are the property of their respective owners. 
© 2026 Ingersoll Rand Inc. 
All rights reserved.  
Corporate Headquarters 
Ingersoll Rand Inc. 
525 Harbour Place Drive, #600 
Davidson, NC 28036-7444 
www.irco.com