Mission Statement, Vision, & Core Values of Parker-Hannifin Corporation (PH)

Have you ever wondered what drives a global leader in motion and control technologies like Parker Hannifin Corporation? With a staggering $19.9 billion in sales for fiscal year 2024 and a market cap of $73.65 billion as of April 15, 2025, it's clear they're doing something right. But what exactly is their secret sauce?

What are the guiding principles that shape their decisions and strategies? How does a company with over a century of history stay relevant and continue to engineer success? Join us as we delve into the core of Parker Hannifin, exploring their mission statement, vision, and core values to uncover the essence of their enduring success.

Parker-Hannifin Corporation (PH) An Overview of

Parker-Hannifin Corporation, now known as Parker Aerospace, was founded in 1917 and has evolved into a global leader in motion and control technologies. The company designs, manufactures, and markets a wide range of products and systems for various mobile, industrial, and aerospace markets. Its offerings include:

• Aerospace systems and components
• Hydraulics and pneumatics
• Filtration
• Electromechanical solutions
• Sealing and shielding

As of the latest reports in April 2025, Parker has demonstrated a strong sales performance, reflecting its extensive market reach and diversified product portfolio.

Parker-Hannifin Corporation has shown robust financial performance in its latest reporting period. In fiscal year 2024, the company reported record sales of $19.1 billion. This represents a 4.6% increase compared to the previous year. The main drivers behind this growth were:

• Increased demand for its aerospace systems and components
• Growth in its industrial markets
• Effective cost management strategies

The company's success is also reflected in its earnings per share, which saw a significant increase, and its strong cash flow from operations.

Parker-Hannifin Corporation stands out as a leader in the motion and control technology sector. Its long-standing history, commitment to innovation, and diverse product offerings have solidified its position in the market. To delve deeper into the financial aspects that underscore Parker-Hannifin Corporation's success, consider exploring: Breaking Down Parker-Hannifin Corporation (PH) Financial Health: Key Insights for Investors.

Parker-Hannifin Corporation (PH) Mission Statement

The mission statement of Parker-Hannifin Corporation is 'Enabling Engineering Breakthroughs that Lead to a Better Tomorrow.'

Parker-Hannifin's mission statement focuses on enabling engineering breakthroughs. This indicates a commitment to innovation and technological advancement. The company aims to empower engineers and other innovators by providing them with the products, services, and support they need to develop new and improved solutions. By focusing on enabling breakthroughs, Parker-Hannifin positions itself as a key player in driving progress across various industries.

The mission statement also highlights the company's dedication to creating a better future. This suggests that Parker-Hannifin is not only interested in short-term profits, but also in the long-term impact of its products and services. The company strives to develop solutions that address some of the world's most pressing challenges, such as climate change, resource scarcity, and public health. By focusing on creating a better tomorrow, Parker-Hannifin aligns its business goals with its social and environmental responsibilities.

Parker-Hannifin operates through two major segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides a wide array of products and systems for industrial manufacturing, mobile, and transportation markets. The Aerospace Systems segment focuses on providing products and services for commercial, military, and general aviation aircraft.

Parker-Hannifin's financial performance in fiscal year 2024 demonstrates its commitment to its mission. The company reported total sales of $19.1 billion, reflecting a 1.8% increase compared to fiscal year 2023. Net income reached $1.9 billion, showcasing the company's profitability and efficient operations. Parker-Hannifin's dedication to innovation is further supported by its investment in research and development, which totaled $582.7 million in fiscal year 2024, up from $562.8 million in 2023. These figures demonstrate the company's focus on enabling engineering breakthroughs and creating a better tomorrow through financial investment.

Parker-Hannifin's mission statement is reflected in its various initiatives and activities:

• Engineering Solutions: Parker-Hannifin provides a wide range of engineering solutions to various industries, including aerospace, automotive, and healthcare. For example, the company's motion and control technologies are used in aircraft, vehicles, and medical devices.
• Sustainable Development: Parker-Hannifin is committed to sustainable development and has set goals to reduce its environmental impact. For example, the company has invested in energy-efficient technologies and has implemented programs to reduce waste and water consumption.
• Community Involvement: Parker-Hannifin is involved in various community initiatives, such as supporting education and promoting STEM (science, technology, engineering, and mathematics) fields. For example, the company has partnered with schools and universities to provide scholarships and internships to students.

To learn more about Parker-Hannifin Corporation, check out this informative resource: Exploring Parker-Hannifin Corporation (PH) Investor Profile: Who’s Buying and Why?

Parker-Hannifin Corporation (PH) Vision Statement of

Parker-Hannifin Corporation's mission, vision, and core values collectively define its purpose, aspirations, and guiding principles. These elements provide a framework for strategic decision-making and operational practices. As of April 2025, here's a detailed look:

Mission Statement: To enable engineering breakthroughs that lead to a better tomorrow.

Vision: To be the world’s leading motion and control technologies company, improving our customers’ productivity and profitability.

Core Values:

• Win Globally
• Customer Focused
• Passionate
• Accountable
• Teamwork
• Integrity

Parker-Hannifin operates with a commitment to integrity, teamwork, and accountability, fostering a culture of innovation and customer focus. These values underpin the company’s pursuit of global leadership in motion and control technologies. For more insights into Parker-Hannifin's investor profile, check out: Exploring Parker-Hannifin Corporation (PH) Investor Profile: Who’s Buying and Why?

Vision Breakdown

Parker-Hannifin's vision is multifaceted, focusing on global leadership, technological advancement, and customer success. Each component drives the company's strategic initiatives and operational priorities.

World’s Leading Motion and Control Technologies Company

Parker-Hannifin aims to be the foremost provider of motion and control technologies. This ambition requires continuous innovation, strategic acquisitions, and a broad portfolio of products and services. In fiscal year 2024, Parker-Hannifin reported total sales of $19.1 billion, reflecting its significant market presence. The company’s global footprint includes operations in 50 countries, serving a diverse range of industries.

Improving Customer Productivity

A key aspect of Parker-Hannifin's vision is enhancing its customers' operational efficiency. This involves providing solutions that reduce downtime, increase output, and optimize processes. For example, Parker’s technologies in aerospace, such as advanced hydraulic systems, contribute to more efficient aircraft performance. In fiscal year 2024, Parker achieved an organic sales growth of 5.6%, driven by increased demand for its productivity-enhancing solutions.

Enhancing Customer Profitability

Parker-Hannifin is dedicated to boosting its customers' bottom lines. This is achieved through solutions that lower costs, improve performance, and extend equipment lifespan. The company's electrification and lightweighting solutions in the automotive industry, for instance, help customers reduce fuel consumption and comply with environmental regulations. Parker-Hannifin's adjusted operating margin was 17.4% in fiscal year 2024, indicating strong profitability and value creation for its customers.

Parker-Hannifin Corporation (PH) Core Values of

Values are an integral part of any organization. They help shape the company’s culture and act as a guiding light for its employees. These values reflect what the company stands for, influencing how it operates, makes decisions, and interacts with stakeholders. Here's an overview of core values of Parker-Hannifin Corporation. You can also read more about the company’s financial health here: Breaking Down Parker-Hannifin Corporation (PH) Financial Health: Key Insights for Investors

Teamwork

Teamwork at Parker-Hannifin is about collaborative effort and mutual support. It means working together across different departments and levels to achieve common goals. This value emphasizes that collective intelligence and shared effort produce better results than individual actions alone.

Parker-Hannifin emphasizes teamwork through various initiatives:

• Cross-functional projects: Encouraging teams from different departments to collaborate on projects.
• Team-building activities: Organizing events that promote camaraderie and effective communication.
• Shared goals: Setting company-wide objectives that require teamwork to achieve.

Integrity

Integrity is the foundation of trust and ethical behavior at Parker-Hannifin. It involves honesty, transparency, and adherence to moral principles in all business dealings. Upholding integrity ensures that the company maintains a strong reputation and fosters long-term relationships with customers, employees, and shareholders.

Parker-Hannifin ensures integrity through:

• Code of Conduct: A comprehensive guide outlining ethical standards for all employees.
• Ethics training programs: Regular training sessions to reinforce ethical decision-making.
• Whistleblower policies: Providing a safe channel for reporting unethical behavior without fear of reprisal.

Excellence

Excellence at Parker-Hannifin is the commitment to continuously improving and achieving the highest standards in all aspects of the business. It means striving for superior quality, innovation, and performance. This value drives the company to exceed expectations and deliver exceptional value to its customers and stakeholders.

Parker-Hannifin fosters excellence through:

• Continuous Improvement Programs: Implementing methodologies like Lean and Six Sigma to enhance efficiency and quality.
• Investment in R&D: Allocating resources to research and development to foster innovation. For example, in the fiscal year 2024, Parker-Hannifin invested $608.4 million in research and development.
• Employee Development: Providing training and opportunities for employees to enhance their skills and knowledge.

Customer Focus

Customer focus means deeply understanding and prioritizing customer needs. It involves building strong relationships, providing tailored solutions, and ensuring customer satisfaction. By putting the customer first, Parker-Hannifin aims to create lasting partnerships and drive mutual success.

Parker-Hannifin demonstrates customer focus through:

• Customer feedback mechanisms: Regularly collecting and acting on customer feedback to improve products and services.
• Customized solutions: Offering tailored solutions to meet specific customer requirements.
• Dedicated customer support: Providing responsive and knowledgeable support to address customer inquiries and issues.

Social Responsibility

Social responsibility reflects Parker-Hannifin’s commitment to operating in an environmentally sustainable and socially conscious manner. It involves minimizing environmental impact, supporting local communities, and adhering to responsible business practices. By embracing social responsibility, the company aims to contribute positively to society and the environment.

Parker-Hannifin promotes social responsibility through:

• Sustainability initiatives: Implementing programs to reduce waste, conserve energy, and minimize environmental impact.
• Community involvement: Supporting local communities through charitable contributions and volunteer efforts. For example, Parker-Hannifin Foundation gave $6.1 million in charitable contributions in fiscal year 2024.
• Ethical sourcing: Ensuring that suppliers adhere to ethical and sustainable practices.