GENERAC HOLDINGS INC.

Listed Company

GNRCCIK 0001474735NYSELarge AcceleratedMotors & GeneratorsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$4.21B

Net Income

$159.55M

Total Assets

$5.57B

Equity

$2.63B

Shares Out

58.68M

Op. Cash Flow

$437.98M

Business

GENERAC HOLDINGS INC. designs, manufactures and provides a broad range of energy technology solutions, including power generation, energy storage, controls and software. It offers stationary, portable and mobile generators, residential and commercial battery storage systems, energy monitoring and management devices, EV charging partnerships, and related services and aftermarket parts. The company operates through three principal product categories—Residential, Commercial & Industrial (C&I), and Other products and services (including software, grid services and subscriptions). It sells globally with a strong North American position via an omni-channel network of dealers, retailers, wholesalers, rental companies and direct accounts.

Summary from filing dated 2025-02-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	4,209	4,296	4,023	4,565	3,737
Costs of goods sold	2,597	2,630	2,657	3,043	2,377
Gross profit	1,612	1,666	1,365	1,522	1,360
Selling and service	555	526	448	496	319
Research and development	243	220	173	160	104
General and administrative	422	285	253	196	144
Amortization of intangibles	102	98	104	103	50
Total operating expenses	1,323	1,129	979	956	639
Income from operations	289	537	386	566	721
Interest expense	−71	−90	−98	−55	—
Investment income	8	8	4	1	—
Change in fair value of investments	−21	−38	0	0	—
Loss on refinancing of debt	−1	−5	0	—	—
Other, net	−5	−2	−3	−424,000	3
Total other expense, net	−90	−127	−96	−58	−30
Income before provision for income taxes	199	409	290	508	692
Provision for income taxes	38	92	73	100	135
Net income	161	317	217	409	557
Net income attributable to noncontrolling interests	2	663,000	3	9	6
Net income attributable to Generac Holdings Inc.	160	316	215	400	550
Foreign currency translation adjustment	100	−63	58	−49	−41
Net unrealized loss on derivatives	−13	−8	−8	38	21
Other comprehensive income (loss)	87	−71	50	−10	−21
Total comprehensive income	248	246	267	399	536
Comprehensive income attributable to noncontrolling interests	2	405,000	3	11	5
Comprehensive income attributable to Generac Holdings Inc.	246	246	264	387	531
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share)	2.73	5.46	3.31	5.55	8.51
Weighted average common shares outstanding - basic: (in shares)	59	60	61	63	63
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share)	2.69	5.39	3.27	5.42	8.3
Weighted average common shares outstanding - diluted: (in shares)	59	60	62	65	64

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	341	281	201	133	147
Accounts receivable, less allowance for credit losses of $34,504 and $35,465 as of December 31, 2025 and 2024, respectively	603	612	537	522	546
Inventories	1,249	1,032	1,167	1,405	1,090
Prepaid expenses and other assets	269	107	92	122	65
Total current assets	2,462	2,032	1,998	2,182	1,848
Property, Plant and Equipment, Net	814	690	599	468	441
Customer lists, net	128	153	185	207	239
Patents and technology, net	338	379	417	455	492
Other intangible assets, net	10	20	27	42	66
Tradenames, net	199	207	217	227	244
Goodwill	1,467	1,436	1,432	1,401	1,410
Deferred income taxes	42	24	16	13	16
Operating Lease, Right-of-Use Asset and Other Assets, Noncurrent	113	168	203	175	122
Total assets	5,574	5,109	5,093	5,169	4,878
Short-term borrowings	51	56	82	49	72
Accounts payable	437	459	341	446	674
Accrued wages and employee benefits	70	81	55	46	72
Accrued product warranty	45	56	65	89	59
Other Accrued Liabilities, Current	591	313	292	349	273
Long-Term Debt and Lease Obligation, Current	22	68	46	13	6
Total current liabilities	1,215	1,033	881	992	1,156
Long-Term Debt and Lease Obligation	1,260	1,211	1,448	1,369	902
Deferred income taxes	61	33	90	126	206
Deferred revenue	233	193	167	144	—
Operating Lease, Liability, Noncurrent And Other Long-term Liabilities	165	142	158	169	342
Total liabilities	2,935	2,612	2,744	2,800	2,606
Redeemable noncontrolling interest	742,000	0	7	110	58
Common stock, par value $0.01, 500,000,000 shares authorized, 74,050,753 and 73,785,631 shares issued as of December 31, 2025 and 2024, respectively	741,000	738,000	733,000	728,000	725,000
Additional paid-in capital	1,187	1,134	1,070	1,016	953
Treasury stock, at cost, 15,373,990 and 14,173,697 shares as of December 31, 2025 and 2024, respectively	−1,358	−1,197	−1,033	−808	—
Excess purchase price over predecessor basis	−202	−202	−202	−202	−202
Retained earnings	3,004	2,844	2,519	2,316	1,966
Accumulated other comprehensive income (loss)	874,000	−85	−15	−65	−55
Stockholders equity attributable to Generac Holdings Inc.	2,632	2,494	2,340	2,257	2,214
Noncontrolling interests	6	3	3	2	313,000
Total stockholders equity	2,638	2,497	2,343	2,259	2,214
Total liabilities and stockholders equity	5,574	5,109	5,093	5,169	4,878

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and finance lease amortization	93	74	62	53	42
Amortization of deferred financing costs and original issue discount	2	3	4	3	3
Loss on refinancing of debt	1	5	0	4	—
Deferred income tax expense (benefit)	15	−61	−34	−95	−2
Share-based compensation expense	50	49	35	29	24
Loss (gain) on disposal of assets	−688,000	138,000	−285,000	—	—
Loss attributable to the disposition of a business	4	0	0	—	—
Other noncash charges	3	6	6	18	206,000
Excess tax benefits from equity awards	−404,000	−5	−977,000	−17	−32
Accounts receivable	46	−83	−18	7	−132
Inventories	−163	123	263	−319	−471
Other assets	−40	546,000	24	5	−819,000
Accounts payable	−41	124	−121	−223	297
Accrued wages and employee benefits	−14	27	8	−27	6
Other accrued liabilities	199	26	−27	110	74
Net cash provided by operating activities	438	741	522	59	411
Proceeds from sale of property and equipment	3	211,000	3	2	259,000
Proceeds from beneficial interest in securitization transactions	0	0	3	4	5
Contribution to tax equity investment	0	−2	−7	−15	−4
Purchase of long-term investments	−3	−38	−33	−15	0
Proceeds from sale of long-term investments	0	2	0	1	5
Expenditures for property and equipment	−170	−137	−129	−86	−110
Acquisition of businesses, net of cash acquired	−762,000	−35	−16	−25	−713
Other investing activities	−2	0	0	—	—
Net cash used in investing activities	−173	−209	−178	−134	−817
Proceeds from short-term borrowings	36	29	64	248	273
Proceeds from long-term borrowings	133	541	349	1,026	150
Repayments of short-term borrowings	−48	−55	−37	−268	−239
Repayments of long-term borrowings and finance lease obligations	−169	−795	−289	−542	−109
Stock repurchases	−148	−153	−252	−346	−126
Payment of debt issuance costs	−5	−4	0	−10	−1
Payment of contingent acquisition consideration	−3	0	−5	−16	−4
Payment of deferred acquisition consideration	−603,000	−7	0	0	—
Contributions received from noncontrolling interest in subsidiary	979,000	0	0	—	—
Dividends paid to noncontrolling interest of subsidiary	−293,000	−273,000	0	−309,000	0
Purchase of additional ownership interest	0	−9	−105	−375,000	−27
Taxes paid related to equity awards	−14	−25	−11	−41	−59
Proceeds from the exercise of stock options	5	28	8	14	39
Net cash used in financing activities	−213	−449	−277	64	−103
Net increase in cash and cash equivalents	60	80	68	−15	−508
Effect of foreign exchange rate changes on cash and cash equivalents	8	−3	2	−3	1
Interest	76	89	84	49	28
Income taxes	89	149	100	151	157

Filings

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