GNRCGENERAC HOLDINGS INC.
Motors & Generators
- Revenue
- $4.2B
- 2.0% YoY
- Operating margin
- 6.9%
- 45% YoY
- EBITDA
- $484M
- 32% YoY
- Market cap
- $13.5B
- Employees
- 4,200
- $1M revenue each
- Net debt / EBITDA
- 2.0×
- $984M net debt
- AI in 10-K
- 1.7
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 1 of 7
- TSR below peersYes4 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$8M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo271% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo34% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo29% of assetsOver 40% of assets
- Shareholder dissentNo95% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$1M · 76th pctBottom quartile of its SIC industry
- Quiet on AINo1.7 per 10K words · 50th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo2.0× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedNo$13.5B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$19M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $3.7B | $4.6B | $4.0B | $4.3B | $4.2B | 2.0% |
| Operating income | $721M | $566M | $386M | $537M | $289M | 46% |
| Net income | $557M | $409M | $217M | $317M | $161M | 49% |
| Operating cash flow | $411M | $59M | $522M | $741M | $438M | 41% |
| Capex | $110M | $86M | $129M | $137M | $170M | 24% |
| Stock-based comp | $24M | $29M | $35M | $49M | $50M | 1.4% |
| Buybacks | $126M | $346M | $252M | $153M | $148M | 3.2% |
| Dividends | $0 | $309K | $0 | $273K | $293K | 7.3% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $19M · 47
- Net
- −$19M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $9M | $5M | 60 | 190 |
| FY2024 | $9M | $12M | 68 | 159 |
| FY2023 | $7M | $9M | 57 | 135 |
| FY2022 | $7M | −$19M | 44 | 114 |
| FY2021 | $8M | $41M | 155 | 121 |