Generac Holdings Inc. (GNRC) financials
NYSE · Industrials · Industrial - Machinery · 9,400 employees · CEO Aaron Jagdfeld
- Price
- $197.93 -2.67%
- Market cap
- $11.7B
- Enterprise value
- $12.6B
- Last report
- Q3 '26 filed 2026-10-28
- Next report
- 2027-02-10 EPS est. $2.59
Revenue (TTM)$4.62B+6.1% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)10.4%-1.0 pp vs a year agoOperating income $479M
Net income (TTM)$301M-3.7% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$414M-2.3% vs a year agoCapex $186M
Diluted EPS (TTM)$5.05-3.8% vs a year agoSum of the last 4 quarters
Net cash-$940M+16.1% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $11.7B EV $12.6B
- Revenue
- $4.62B Trailing 12 months
- Revenue growth
- +17% FY2026 consensus
- Profit margin
- 6.5% Net income / revenue, TTM
- P/E
- 38.6× Forward 20.2× (FY2026)
- P/S
- 2.5× Price / sales, TTM
- EV / EBITDA
- 18.3× TTM
- Free cash flow
- $414M Trailing 12 months
- Net income
- $301M Trailing 12 months
- Revenue estimate
- $4.93B FY2026 consensus
- Earnings
- 2027-02-10 Revenue est. $1.39B
- Dividend
- – No dividend
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-10-28): revenue missed by 2.3%, EPS beat by 5.8%Revenue $1.29B vs $1.32B expected (-2.3%); EPS $2.54 vs $2.40 (+5.8%).
- Revenue growth accelerating: 16.2% year on yearQ3 '26 revenue $1.29B, against an average of 1.6% over the four quarters before.
- Operating margin 10.4% (TTM), -1.0 pp on a year agoOperating income grew -3.5% while revenue grew 6.1%.
- 19.2% of pre-tax profit is eaten by non-operating lossesPre-tax income $402M vs operating income $479M (TTM). Losses on equity stakes and other one-off items cut net income and EPS - operating income is the cleaner measure of the business.
- Capex 4.0% of revenue (a year ago 3.8%)$186M invested in the last 4 quarters (+13.7% on a year earlier). Free cash flow $414M = 137.6% of net income.
- Diluted share count up 0.7% in a year59.6M diluted shares in Q3 '26, 59.1M a year earlier.
- Net debt $940MCash + short-term investments $394M, debt incl. leases $1.33B; a year ago net debt $1.12B.
Last quarter: Q3 '26
Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q3 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $1.29B | $1.11B | +16.2% |
| Gross margin | 39.9% | 38.3% | +1.5 pp |
| Operating income | $161M | $103M | +55.8% |
| Operating margin | 12.4% | 9.3% | +3.2 pp |
| Net income | $109M | $66.2M | +65.1% |
| Diluted EPS | $1.83 | $1.12 | +63.4% |
| Operating cash flow | $171M | $118M | +44.4% |
| Capex | $39.3M | $21.9M | +79.4% |
| Free cash flow | $132M | $96.5M | +36.5% |
| R&D | $63.8M | $60.1M | +6.3% |
| Stock-based compensation | $13M | $12.8M | +2.3% |
Reported vs consensus
2026-10-28| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $1.29B | $1.32B | -2.3% |
| EPS (as estimated) | $2.54 | $2.40 | +5.8% |
From the report of 2026-10-28 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q2 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Residential Power Products | – | – | – | – | – | |
| Commercial and Industrial Power Products | – | – | – | – | – | |
| Extended Warranties | $233M | – | 100.0% | – | – | |
| Other Products and Services | – | – | – | – | – |
Revenue by region
share of total| Segment | Q2 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Domestic | $938M | – | 83.5% | – | – | |
| International | $185M | – | 16.5% | – | – |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $601M
- Capex
- -$186M
- Buybacks
- $0
- Dividends
- $0
- Acquisitions
- -$209M
- Net debt issued
- -$106M
- Stock-based compensation
- $51.3M
- Free cash flow
- $414M
- Returned to shareholders / FCF
- -0.0%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 38.6× | 35.4× | 18.1× – 50.0× |
| EV / EBITDA | 18.3× | 18.2× | 10.9× – 28.5× |
| EV / Sales | 2.7× | 3.0× | 1.7× – 6.2× |
| Price / FCF | 28.2× | 34.6× 4 of 5 years | 15.3× – 73.3× |
| Price / Book | 3.9× | 4.6× | 2.8× – 10.0× |
| FCF yield | 3.5% | 3.2% | -0.4% – 6.5% |
| Return on invested capital | 7.5% | 9.6% | 5.3% – 15.3% |
| Return on equity | 10.8% | 13.5% | 6.1% – 24.1% |
Analysts
Consensus target $301.93 (+52.5%)
range $250.00 – $375.00 · rating Buy
Strong buy0
Buy29
Hold11
Sell0
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $4.93B | +17.0% | $9.82 | +264.9% | 20.2× | 13 |
| FY2027 | $6.86B | +39.3% | $13.93 | +41.9% | 14.2× | 15 |
| FY2028 | $8.01B | +16.8% | $17.15 | +23.1% | 11.5× | 13 |
| FY2029 | $8.24B | +2.8% | $18.23 | +6.3% | 10.9× | 10 |
| FY2030 | $8.65B | +5.0% | $19.46 | +6.8% | 10.2× | 5 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 306 figures Generac Holdings Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| $58.3M | $57.7M | +1.0% | – | – | – | |
| Accounts Payable, Current | $556M | $596M | -6.7% | $437M | $459M | -4.8% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $669M | $649M | +3.2% | $603M | $612M | -1.5% |
| Accounts Receivable, Allowance for Credit Loss | $34.5M2025-12-31 | $35.5K | +97,190.3% | $34.5M | $35.5K | +97,190.3% |
| Accounts Receivable, Allowance for Credit Loss, Current | $33.8M | $36.2M | -6.8% | $34.5M | $35.5M | -2.7% |
| Accounts Receivable, before Allowance for Credit Loss | $637M2025-12-31 | $648K | +98,305.0% | $637M | $648K | +98,305.0% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $517M | $438M | +18.1% | $470M | $391M | +20.3% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$17.6M | $3.11M | -665.4% | $874K | -$85.4M | +101.0% |
| Additional Paid in Capital | $1.21B | $1.16B | +4.3% | $1.19B | $1.13B | +4.7% |
| Advertising Expense | – | – | – | $123M | $117M | +5.7% |
| Amortization of Debt Issuance Costs and Discounts | $546K | $642K | -15.0% | $2.38M | $3.24M | -26.6% |
| Amortization of Intangible Assets | $30.8M | $25.7M | +20.0% | $102M | $97.7M | +3.9% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 124M | 779M | -84.1% | 300K | 428K | -29.9% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $14M | $14.8M | -5.1% | $49.9M | $49.2M | +1.4% |
| Assets | $5.77B | $5.39B | +7.1% | $5.57B | $5.11B | +9.1% |
| Assets, Current | $2.43B | $2.25B | +8.4% | $2.46B | $2.03B | +21.2% |
| Business Combination, Contingent Consideration, Liability | $122M | – | – | $38.9M2023-12-31 | $81.5M | -52.2% |
| Business Combination, Contingent Consideration, Liability, Current | $106M | – | – | – | – | – |
| Business Combination, Contingent Consideration, Liability, Noncurrent | $16M | – | – | – | – | – |
| Capitalized Contract Cost, Amortization | – | – | – | $3.82M | $2.96M | +29.3% |
| Capitalized Contract Cost, Net | $24.3M2025-12-31 | $17.1M | +41.8% | $24.3M | $17.1M | +41.8% |
| Cash and Cash Equivalents, at Carrying Value | $265M | $224M | +18.5% | $341M | $281M | +21.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | $265M | $224M | +18.5% | $341M | $281M | +21.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$609K | $36.1M | -101.7% | $60.1M | $80.3M | -25.1% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 500M | 500M | 0.0% | 500M | 500M | 0.0% |
| Common Stock, Shares, Issued | 74.2M | 74M | +0.3% | 74.1M | 73.8M | +0.4% |
| Common Stock, Value, Issued | $742K | $740K | +0.3% | $741K | $738K | +0.4% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | – | – | – | $2.48M | $405K | +512.6% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $143M | $138M | +4.1% | $246M | $246M | -0.1% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | – | – | – | $248M | $246M | +0.7% |
| Contract with Customer, Asset, after Allowance for Credit Loss | $78.7M | – | – | – | – | – |
| Contract with Customer, Liability | $118M | $23.8M | +395.9% | $26.9M2024-12-31 | $19.2M | +40.1% |
| Contract with Customer, Liability, Noncurrent | $228M | $200M | +13.6% | $233M | $193M | +20.5% |
| Contract with Customer, Liability, Revenue Recognized | $43.5M | $7.2M | +504.3% | $61.3M | $19.2M | +219.7% |
| Cost of Goods and Services Sold | $652M | $644M | +1.1% | $2.6B | $2.63B | -1.2% |
| Current Federal Tax Expense (Benefit) | – | – | – | $10M | $118M | -91.5% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $15.4M | $14.4M | +7.3% |
| Current Income Tax Expense (Benefit) | – | – | – | $22.6M | $153M | -85.2% |
| Current State and Local Tax Expense (Benefit) | – | – | – | -$2.83M | $21M | -113.5% |
| Debt and Lease Obligation | $1.28B | $1.37B | -6.4% | $1.28B | $1.28B | +0.3% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $5.14M | $6.93M | -25.7% | $5.67M | $8.2M | -30.8% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $17.9M | -$46.5M | +138.5% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$7.26M | -$5.57M | -30.4% |
| Deferred Income Tax Assets, Net | $8.11M | $42.2M | -80.8% | $41.9M | $24.1M | +73.8% |
| Deferred Income Tax Expense (Benefit) | $22.7M | -$14.5M | +256.7% | $15.1M | -$60.6M | +124.9% |
| Deferred Income Tax Liabilities, Net | $54.3M | $34.7M | +56.3% | $60.9M | $33.2M | +83.6% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $3.11M | -$8.61M | +136.1% |
| Deferred Tax Assets, Deferred Income | $39.7M2025-12-31 | $43.3M | -8.3% | $39.7M | $43.3M | -8.3% |
| Deferred Tax Assets, in Process Research and Development | $30.6M2025-12-31 | $98.3M | -68.9% | $30.6M | $98.3M | -68.9% |
| Deferred Tax Assets, Inventory | $17.9M2025-12-31 | $14.1M | +26.6% | $17.9M | $14.1M | +26.6% |
| Deferred Tax Assets, Net of Valuation Allowance | $216M2025-12-31 | $285M | -24.1% | $216M | $285M | -24.1% |
| Deferred Tax Assets, Operating Loss Carryforwards | $55.6M2025-12-31 | $50.3M | +10.4% | $55.6M | $50.3M | +10.4% |
| Deferred Tax Assets, Other | $12.8M2025-12-31 | $13M | -1.6% | $12.8M | $13M | -1.6% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $8.63M2025-12-31 | $17M | -49.1% | $8.63M | $17M | -49.1% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | $54.7M2025-12-31 | $52.4M | +4.5% | $54.7M | $52.4M | +4.5% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Allowance for Doubtful Accounts | $1.22M2025-12-31 | $1.8M | -32.4% | $1.22M | $1.8M | -32.4% |
| Deferred Tax Assets, Valuation Allowance | $6.54M2025-12-31 | $5.23M | +25.1% | $6.54M | $5.23M | +25.1% |
| Deferred Tax Liabilities, Derivatives | $166K2025-12-31 | $6.5M | -97.4% | $166K | $6.5M | -97.4% |
| Deferred Tax Liabilities, Goodwill and Intangible Assets | $183M2025-12-31 | $234M | -21.8% | $183M | $234M | -21.8% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
Data as of 2026-11-02