Generac Holdings Inc.

GNRC · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007
Valuation
Market cap	$8,003	$9,225	$7,939	$6,377	$22,203	$14,347	$6,346	$3,136	$3,124	$2,570	$1,878	$3,205	$3,856	$2,029	–	–	–	–	–
Enterprise value	$9,000	$10,423	$9,475	$7,847	$23,377	$14,757	$7,063	$3,836	$3,915	$3,556	$2,809	$4,103	$4,903	$2,815	–	–	–	–	–
P/E (TTM) at period end	50.16×	28.36×	39.09×	18.21×	41.63×	41.07×	25.06×	14.23×	19.68×	26.71×	24.16×	18.35×	22.09×	21.76×	–	–	–	–	–
P/S (TTM) at period end	1.90×	2.15×	1.97×	1.40×	5.94×	5.77×	2.88×	1.55×	1.87×	1.78×	1.43×	2.19×	2.60×	1.72×	–	–	–	–	–
P/B at period end	3.04×	3.70×	3.39×	2.83×	10.03×	10.32×	6.15×	4.12×	5.64×	6.41×	4.03×	6.54×	12.16×	4.38×	–	–	–	–	–
EV / EBITDA (TTM)	23.53×	17.06×	21.12×	12.67×	30.63×	28.62×	17.46×	10.03×	14.30×	15.86×	14.31×	13.36×	13.53×	12.14×	–	–	–	–	–
EV / Sales (TTM)	2.14×	2.43×	2.36×	1.72×	6.26×	5.94×	3.20×	1.90×	2.34×	2.46×	2.13×	2.81×	3.30×	2.39×	–	–	–	–	–
Returns
Return on equity	6.1%	13.0%	8.7%	15.5%	24.1%	25.1%	24.5%	29.0%	28.6%	24.0%	16.7%	35.6%	55.0%	20.1%	42.2%	(22.2%)	–	–	–
Return on invested capital	6.5%	11.3%	7.5%	12.2%	17.1%	20.7%	16.8%	19.0%	14.6%	9.3%	8.1%	14.3%	16.1%	10.7%	8.9%	8.8%	52.2%	29.7%	9.2%
Dividend yield	0.0%	0.0%	–	0.0%	–	–	0.0%	0.0%	–	0.0%	0.1%	0.0%	8.9%	19.9%	–	–	–	–	–
Financial health
Current ratio	2.03×	1.97×	2.27×	2.20×	1.60×	2.60×	2.41×	2.00×	2.08×	2.00×	2.96×	3.04×	2.61×	1.77×	2.32×	3.14×	2.61×	2.15×	2.30×
Debt / equity	0.50×	0.51×	0.65×	0.63×	0.44×	0.63×	0.87×	1.21×	1.67×	2.59×	2.24×	2.22×	3.74×	1.90×	0.78×	1.49×	(1.47×)	(1.40×)	(5.35×)
Effective tax rate	18.9%	22.6%	25.2%	19.6%	19.5%	22.2%	21.1%	22.5%	21.7%	36.8%	36.8%	32.4%	37.4%	40.4%	(273.3%)	0.5%	0.8%	(0.1%)	5.6%
Share count
Diluted shares outstanding	59	60	62	65	64	64	63	62	63	65	69	70	70	69	68	59	51	66	66

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007
Revenue and gross profit
Revenue	$4,439	$4,209	$4,296	$4,023	$4,565	$3,737	$2,485	$2,204	$2,023	$1,672	$1,444	$1,317	$1,461	$1,486	$1,176	$792	$593	$588	$574	$556
Cost of revenue	($2,684)	($2,597)	($2,630)	($2,657)	($3,043)	($2,377)	($1,528)	($1,407)	($1,298)	($1,090)	($930)	($857)	($945)	($916)	($736)	($497)	($356)	($352)	($372)	($333)
Gross profit	$1,755	$1,612	$1,666	$1,365	$1,522	$1,360	$958	$798	$725	$585	$512	$460	$516	$570	$440	$295	$237	$236	$202	$222
Operating expenses
Research and development	($250)	($243)	($220)	($173)	($160)	($104)	($80)	($68)	($50)	($43)	($37)	($33)	($31)	($29)	($23)	($16)	($15)	($11)	($10)	($10)
Selling, general and administrative	($417)	($422)	($285)	($253)	($196)	($144)	($118)	($109)	($104)	($88)	($75)	($53)	($55)	($55)	($46)	($30)	($23)	($15)	($73)	($70)
Total operating expenses	($1,334)	($1,323)	($1,129)	($979)	($956)	($639)	($479)	($426)	($368)	($334)	($310)	($280)	($223)	($218)	($217)	($182)	($147)	($137)	($131)	($127)
Total costs and expenses	($4,017)	($3,920)	($3,759)	($3,636)	($3,998)	($3,016)	($2,006)	($1,832)	($1,666)	($1,422)	($1,242)	($1,138)	($1,168)	($1,134)	($953)	($679)	($503)	($490)	($503)	($461)
Operating income	$421	$289	$537	$386	$566	$721	$479	$372	$357	$251	$203	$180	$293	$351	$224	$113	$90	$99	$71	$95
Earnings
EBITDA	$525	$383	$611	$449	$619	$763	$516	$404	$382	$274	$224	$196	$307	$362	$232	$121	$98	$106	$126	$149
Interest income	$9	$8	$8	$4	$1	$1	$2	$3	$2	$0	$0	$0	$0	$0	$0	$0	$0	$2	$1	–
Interest expense	($68)	($71)	($90)	($98)	($55)	($33)	($33)	($42)	($41)	($43)	($45)	($43)	($47)	($54)	($49)	($24)	($27)	($71)	($108)	($125)
Pre-tax income	$337	$199	$409	$290	$508	$692	$446	$320	$311	$204	$154	$123	$258	$279	$156	$87	$57	$43	($556)	($10)
Income tax expense	($78)	($38)	($92)	($73)	($100)	($135)	($99)	($67)	($70)	($44)	($57)	($45)	($84)	($104)	($63)	$238	($0)	($0)	($0)	$1
Net income	$258	$160	$316	$215	$400	$550	$351	$252	$238	$158	$97	$78	$175	$175	$93	$325	$57	$43	($556)	($10)
Per share
Diluted EPS (GAAP)	$4.34	$2.69	$5.39	$3.27	$5.42	$8.30	$5.48	$4.03	$3.54	$2.53	$1.47	$1.12	$2.49	$2.51	$1.35	$4.79	($1.65)	$0.85	($8.48)	($0.15)
Basic EPS (GAAP)	$4.41	$2.73	$5.46	$3.31	$5.55	$8.51	$5.61	$4.09	$3.57	$2.56	$1.48	$1.14	$2.55	$2.56	$1.38	$4.84	($1.65)	($3.58)	($27.93)	($0.49)
Basic shares outstanding	58	59	60	61	63	63	62	62	62	62	65	68	69	68	67	67	59	20	20	20
Margins
Gross margin	39.5%	38.3%	38.8%	33.9%	33.3%	36.4%	38.5%	36.2%	35.8%	35.0%	35.5%	34.9%	35.3%	38.3%	37.4%	37.2%	40.0%	40.1%	35.2%	40.0%
Operating margin	9.5%	6.9%	12.5%	9.6%	12.4%	19.3%	19.3%	16.9%	17.7%	15.0%	14.0%	13.6%	20.1%	23.7%	19.0%	14.3%	15.2%	16.7%	12.4%	17.1%
Net margin	5.8%	3.8%	7.4%	5.3%	8.8%	14.7%	14.1%	11.4%	11.8%	9.4%	6.7%	5.9%	12.0%	11.7%	7.9%	41.0%	9.6%	7.3%	(96.8%)	(1.7%)

Analyst consensus

Buy40 analysts

Bearish · 0 · Hold · 11 · Bullish · 29

Earnings history

	EPS	Estimate
Q3 2024	$2.25	$1.95	Beat
Q4 2024	$2.80	$2.49	Beat
Q1 2025	$1.26	$0.99	Beat
Q2 2025	$1.65	$1.33	Beat
Q3 2025	$1.83	$2.25	Miss
Q4 2025	$1.61	$1.81	Miss
Q1 2026	$1.80	$1.33	Beat
Q2 2026	$2.91	$2.01	Beat

Peers

Company overview

IPO dateFeb 11, 2010

CEOAaron Jagdfeld

Employees9,400

SectorIndustrials

IndustryIndustrial - Machinery

CountryUS

ExchangeNew York Stock Exchange

Websitewww.generac.com

Generac Holdings Inc. specializes in the engineering, manufacturing, and global distribution of diverse power generation systems, energy storage solutions, and related electrical products. The company caters to residential users, light commercial enterprises, and industrial sectors worldwide. At its core, Generac produces vital components such as engines, alternators, batteries, advanced electronic controls, and robust steel enclosures. For homeowners, the company provides a range of automatic standby generators, from 7.5kW up to 150kW, including air-cooled models (7.5kW-26kW) and more powerful liquid-cooled units (22kW-150kW). Many of these residential systems are compatible with Mobile Link, a remote monitoring platform. Generac also offers portable generators, spanning outputs from 800W to 17.5kW, alongside an extensive catalog of outdoor power equipment like trimmers, mowers, log splitters, and pressure washers. Its commitment to sustainable energy is evident through its clean energy offerings, marketed under the PWRcell and PWRview brands. Serving commercial and industrial clients, Generac supplies essential equipment such as light towers, mobile power units, and portable energy storage systems. Its portfolio extends to include commercial mobile pumps, dust-suppression apparatus, and various control systems for gaseous-fueled engines. Light-commercial standby generators, rated from 22kW to 150kW, deliver critical three-phase power to small and mid-sized businesses. For heavy-duty applications, industrial generators with capabilities from 10kW to a formidable 3,250kW are deployed as emergency backup power for vital infrastructure across healthcare, telecommunications, data centers, commercial offices, retail, municipal services, and manufacturing facilities. Beyond direct product sales, the company supports its offerings by supplying aftermarket service parts and product accessories to its vast dealer network. Generac's distribution strategy is multi-faceted, leveraging independent residential and industrial dealers, major national and regional retailers, e-commerce platforms, specialized wholesalers (electrical, HVAC, solar), catalogs, equipment rental firms, and direct engagement with end-users. Founded in 1959, Generac Holdings Inc. is proudly headquartered in Waukesha, Wisconsin.

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