GNRC·Electrical Equipment / Power generation & energy technology (GICS Electrical Components & Equipment)

Generac Holdings

ConvictionModerate

Designs and manufactures power products across two segments: Residential (home standby + portable generators, PWRcell energy storage, ecobee smart-home/thermostats, clean-energy/grid-services) and Commercial & Industrial (mobile, industrial, and large-megawatt stationary gensets for telecom, rental, industrial, and data-center customers). Sells through ~9,000+ independent residential dealers, electrical/industrial distributors, big-box retail, and direct OEM/enterprise supply agreements. Recurring revenue from parts, service, connectivity/monitoring, and emerging grid-services.

Revenue

$4.21B FY2025-2% YoY); $1.06B Q1 2026 (+12% YoY

Rev growth

FY2025 -2%Q1 2026 +12% YoY; FY2026 guided mid-to-high-teens % total, C&I guided mid-to-high 20s %

Gross margin

38.3% FY2025down from 38.8% FY2024; pressured by sales mix and higher tariffs

Op margin

Adjusted EBITDA margin 17.0% FY2025$716M) vs 18.4% FY2024 ($789M); Q1 2026 adj EBITDA 18.3% ($193M) vs 15.9% PY; GAAP earnings depressed FY2025 by a non-cash clean-energy-related impairment (GAAP net income $159.6M / EPS $2.69 vs adj net income $376M / adj EPS $6.34

Capex intensity

Moderate for a hardware makerroughly 3.5-4% of FY2025 sales (~$170M; CFO $438M less FCF $268M); rising as large-megawatt data-center capacity is expanded via capex + M&A (Enercon acquired Apr 2026

Market cap

~$14.9BNYSE: GNRC; ~$260/share early Jul 2026, ~58.9M shares

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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.

Income statement & margin structure
SWOT, moats & dependency map
Supplier–customer ecosystem graph
Signals, trends & valuation range

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