Generac Holdings Inc. (GNRC) intrinsic value & 10-year financials
Generac Holdings Inc. (GNRC) has a Graham intrinsic value of $50.83 per share. At $192.68 on Oct 17, 2026, the stock trades 279% above that value. Over the last 10 fiscal years revenue grew 12.6% a year to $4.2B, with an average return on invested capital of 15.5%.
- Graham intrinsic value
- $50.83
- Share price (Oct 17, 2026)
- $192.68
- Price vs Graham value
- 279% above
- Market cap
- $11.4B
- Revenue (FY2025)
- $4.2B
- Revenue growth (10-yr CAGR)
- 12.6%
- ROIC (10-yr avg)
- 15.5%
- Free cash flow (FY2025)
- $268.1M
GNRC 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $4.2B | $159.6M | $2.69 | $268.1M | 6.9% | 6.7% |
| FY2024 | $4.3B | $316.3M | $5.39 | $604.6M | 12.5% | 11.8% |
| FY2023 | $4.0B | $214.6M | $3.27 | $392.6M | 9.6% | 8.1% |
| FY2022 | $4.6B | $399.5M | $5.42 | -$27.7M | 12.4% | 14.0% |
| FY2021 | $3.7B | $550.5M | $8.30 | $301.2M | 19.3% | 25.5% |
| FY2020 | $2.5B | $350.6M | $5.48 | $424.4M | 19.3% | 23.9% |
| FY2019 | $2.2B | $252.0M | $4.03 | $248.1M | 16.9% | 19.8% |
| FY2018 | $2.0B | $238.3M | $3.54 | $199.6M | 17.7% | 20.2% |
| FY2017 | $1.7B | $159.4M | $2.56 | $227.9M | 14.9% | 14.8% |
| FY2016 | $1.4B | $98.8M | $1.50 | $222.9M | 14.1% | 9.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Generac is a consistent compounder, expanding top-line revenue at 12.6% annually over the past decade.
Generac has earned high returns on invested capital, averaging 15.5% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Generac 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, Generac is modeled at 6.7% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $50.83 per share.