Gencor Industries Inc. (GENC) intrinsic value & 10-year financials
Gencor Industries Inc. (GENC) has a Graham intrinsic value of $22.62 per share. At $17.81 on Oct 17, 2026, the stock trades 21% below that value. Over the last 10 fiscal years revenue grew 5.7% a year to $115.4M, with an average return on invested capital of 5.1%.
- Graham intrinsic value
- $22.62
- Share price (Oct 17, 2026)
- $17.81
- Price vs Graham value
- 21% below
- Market cap
- $260.7M
- Revenue (FY2025)
- $115.4M
- Revenue growth (10-yr CAGR)
- 5.7%
- ROIC (10-yr avg)
- 5.1%
- Free cash flow (FY2025)
- $1.1M
GENC 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $115.4M | $15.7M | $1.07 | $1.1M | 12.1% | 6.1% |
| FY2024 | $113.2M | $14.6M | $0.99 | $8.5M | 12.1% | 5.7% |
| FY2023 | $105.1M | $14.7M | $1.00 | $7.5M | 12.8% | 6.5% |
| FY2022 | $103.5M | -$372.0K | -$0.03 | -$13.7M | 4.0% | 1.4% |
| FY2021 | $85.3M | $5.8M | $0.39 | $1.2M | 0.8% | 0.5% |
| FY2020 | $77.4M | $5.5M | $0.38 | $25.2M | 7.2% | 3.4% |
| FY2019 | $81.3M | $10.2M | $0.69 | $2.1M | 11.6% | 5.4% |
| FY2018 | $98.6M | $12.6M | $0.85 | -$15.5M | 13.9% | 9.6% |
| FY2017 | $80.6M | $8.4M | $0.57 | $4.5M | 12.7% | 6.8% |
| FY2016 | $70.0M | $7.0M | $0.48 | $6.7M | 11.2% | 5.7% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
GENCOR INDUSTRIES INC has demonstrated mature, steady growth, with revenue compounding at 5.7% annually over the past decade.
GENCOR INDUSTRIES INC has historically struggled to out-earn its cost of capital, averaging just 5.1% ROIC.
GENCOR INDUSTRIES INC has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, GENCOR INDUSTRIES INC is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $22.62 per share.