Generac Holdings Inc.GNRC
NYSE•Industrials•Specialty Industrial Machinery
Generac Holdings Inc. designs, manufactures, and distributes energy technology products and solutions worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine home standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; propane tank monitoring solution; and smart home solutions, such as smart thermostats and a suite of home monitoring products. It also provides smart home energy management devices and sensors for heating and cooling system; smart doorbell cameras; and portable and inverter generators; multiple portable battery solutions; manual transfer switches; outdoor power equipment, including trimmers, field and brush mowers, log splitters, stump grinders, chipper shredders, lawn and leaf vacuums, and pressure washers and water pumps; and home energy storage systems. In addition, the company offers commercial and industrial products comprising cleaner-burning natural gas fueled generators; mega-watt diesel generators; light-commercial standby generators and related transfer switches; stationary generators; single-engine industrial generators; industrial standby generators; industrial transfer switches; light towers, mobile generators, commercial mobile pumps, heaters, and dust-suppression equipment; mobile energy storage systems; battery energy storage system and related inverter products; and aftermarket service parts and product accessories. Further, it provides microgrid; and software-as-a-service contracts. The company distributes its products through independent residential dealers and contractors, industrial distributors and dealers, national and regional retailers, e-commerce partners, electrical/HVAC/solar wholesalers, solar installers, catalogs, equipment rental companies, and other equipment distributors; and directly to end users. Generac Holdings Inc. was founded in 1959 and is based in Waukesha, Wisconsin.
Generac Holdlings Inc. (GNRC) reported trailing twelve months revenue of $4.33B as of March 2026, a 0.5% decline year-over-year. Quarterly revenue reached $1.06B, reflecting a contraction in sales.
Generac Holdlings Inc. generated $188.97M in TTM net income, with quarterly EBITDA of $142.88M. The operating margin expanded from 8.9% to 11.1%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (11.1%) and net margin (6.9%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 4.7% a year ago, signaling stronger bottom-line efficiency.
GNRC trades at a P/E of 81.1x (a premium multiple) and a P/S of 3.5x. The price-to-book ratio of 5.7x indicates a significant premium over book value.
The company generated $89.89M in free cash flow over the trailing twelve months, a 230.3% increase year-over-year, indicating cash generation ability. The balance sheet shows $5.59B in total assets with $1.19B in long-term debt against $2.67B in stockholders equity for a debt-to-equity ratio of 0.4, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 10.0%. The business may lack pricing power or face rising costs.'
ROE is positive at ~10.8% on average, adequate but below the threshold typically associated with wide moats.
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue shows resilience with 5 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 21 quarters
Operating margins dropped 39.5% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.4 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 2.5% — net buybacks are reducing shares outstanding and boosting per-share value.