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.

GENC stock: frequently asked questions

What is the intrinsic value of Gencor Industries Inc. (GENC) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 8.0% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, GENC's intrinsic value is about $22.62 per share.

Is GENC stock undervalued?

At $17.81 (close on Oct 17, 2026), GENC trades 21% below its Graham value of $22.62. On Graham's terms that leaves a margin of safety. A formula is a starting point for research, not a recommendation.

How fast has Gencor Industries Inc. grown?

Revenue went from $70.0M in fiscal 2016 to $115.4M in fiscal 2025, a compound annual growth rate of 5.7%. Net income was $15.7M in fiscal 2025.

Does Gencor Industries Inc. generate free cash flow?

Gencor Industries Inc. generated $1.1M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 8 of the last 10 reported years.

What is GENC's return on invested capital?

Average ROIC over the last 10 fiscal years was 5.1%, and average return on equity was 5.9%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this GENC data come from?

From Gencor Industries Inc.'s annual 10-K filings on SEC EDGAR, most recently filed Jun 12, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

Similar construction machinery & equip stocks