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Companies $GNRC
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Generac Holdings Inc. logo

Generac Holdings Inc.

investors.generac.com

What Do They Do?

Sells home generators and energy products to homeowners, and backup power systems to commercial and industrial customers.

How Do They Make Money?

Residential products are mainly sold through distribution partners, with some direct sales; customers may pay in advance or after shipment. C&I products are also mainly equipment sales, while data-center projects earn revenue as work progresses; extended warranties and remote monitoring subscriptions earn revenue over contract periods.

revenue
SegmentShareRevenue
Residential Power Products
Sold outright

54%
FY2022: 64%
Commercial and Industrial Power Products
Sold outright

35%
FY2022: 28%
Other Products and Services
Mix

12%
FY2022: 8.6%

Who Are Their Customers?

Homeowners and small businesses usually buy through dealers, contractors, retailers, online sellers, or wholesalers; commercial and industrial buyers use distributors, dealers, rental firms, and project contractors. Generac also sells directly to some national and regional accounts and end users.

Do Revenues Turn Into Profits?

Yes. It kept 4 cents of every revenue dollar as net income in FY2025 and turned 6 cents into free cash flow.

Operating income, FY2025
7% of revenue
▼ −46% vs FY2024 ($536.7M, 12%)
Net income, FY2025
4% of revenue
▼ −50% vs FY2024 ($316.3M, 7%)
Free cash flow, FY2025
6% of revenue
▼ −56% vs FY2024 ($604.6M, 14%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 30, 2026
Revenue
▲ +11%
vs $1.1B in Q2 FY2025
Net income
▲ +94%
vs $74M in Q2 FY2025
  • Sep 16, 2026 Signs long-term generator supply agreement with Amazon Initial backup-generator deliveries for Amazon data centers are expected to total $2.4 billion in 2027 and 2028.

Growing. Revenue grew 13% in 4 years, from $3.7B in FY2021 to $4.2B in FY2025, about 3% a year.

Data-center backup power The current business description highlights a large-megawatt diesel generator line for data-center backup, whereas the older description framed power-generation systems around residential and commercial and industrial uses.

Revenue over time
Residential Power Products Commercial and Industrial Power Products Other Products and Services
$5B$2.5B$0

Who Do They Compete With?

Competes with Rehlko, Briggs & Stratton, Honda, Champion, Techtronics International, Harbor Freight, Husqvarna, Ariens, Tesla, Enphase, Solar Edge, Google, Resideo, The Toro, EcoFlow, Emerson, Caterpillar, Cummins, IGSA, and MTU (Rolls Royce)

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