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Arphra AIPlain-English read on Generac Holdings Inc.’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $3.74B | $4.56B | $4.02B | $4.3B | $4.21B | $4.92B | $5.59B | $6.33B | $7.06B |
| Cost of revenue | $2.38B | $3.04B | $2.66B | $2.63B | $2.6B | $3.09B | $3.55B | $4.1B | $4.44B |
| Gross profit | $1.36B | $1.52B | $1.37B | $1.67B | $1.61B | $1.85B | $2.12B | $2.29B | $2.67B |
| Gross margin | +36.39% | +33.34% | +33.94% | +38.77% | +38.29% | +37.55% | +37.85% | +36.11% | +37.75% |
| Operating | |||||||||
| Research & development | $104.3M | $159.77M | $173.44M | $219.6M | $243.47M | $253.75M | $277.79M | $328.6M | $366.67M |
| Selling, general & administrative | $463.29M | $692.58M | $701.6M | $811.54M | $977.57M | $975.89M | $1.14B | $1.27B | $1.43B |
| Total operating expenses | $638.95M | $955.67M | $979.23M | $1.13B | $1.32B | $1.33B | $1.54B | $1.77B | $1.95B |
| Operating income | $721.14M | $566.33M | $386.2M | $536.74M | $289.19M | $476.87M | $552.38M | $606.25M | $673.57M |
| Operating margin | +19.30% | +12.41% | +9.60% | +12.49% | +6.87% | +9.70% | +9.88% | +9.57% | +9.54% |
| EBITDA | $816.52M | $719.43M | $554.53M | $670.92M | $484.03M | $675.8M | $756.35M | $845.01M | $958.37M |
| EBIT | $724.48M | $563.29M | $387.93M | $499.15M | $289.19M | $460.3M | $533.85M | $606.68M | $669.49M |
| Below the line | |||||||||
| Interest expense | $32.95M | $54.83M | $97.63M | $89.71M | $70.7M | $100.31M | $113.12M | $127.19M | $147.38M |
| Interest income | $0 | $0 | $0 | $0 | $7.67M | $3.04M | $3.38M | $3.79M | $4.3M |
| Other income / expense | -$29.61M | -$57.86M | -$95.9M | -$127.3M | -$90.13M | — | — | — | — |
| Pre-tax income | $691.53M | $508.47M | $290.3M | $409.44M | $199.06M | $360M | $407.05M | $459.38M | $500.99M |
| Income tax expense | $134.96M | $99.6M | $73.18M | $92.46M | $37.71M | $76.26M | $87.9M | $103.29M | $114.93M |
| Earnings | |||||||||
| Net income | $533.39M | $350.27M | $203.09M | $325.26M | $159.55M | $267.96M | $312.33M | $336.12M | $386.04M |
| Net income · continuing ops | $556.57M | $408.87M | $217.12M | $316.98M | $161.35M | $273.32M | $317.59M | $347.21M | $381.34M |
| Net margin | +14.27% | +7.67% | +5.05% | +7.57% | +3.79% | +5.45% | +5.59% | +5.31% | +5.47% |
| EPS · basic | $8.51 | $5.55 | $3.31 | $5.46 | $2.73 | $9.06 | $11.28 | $13.64 | $17.40 |
| EPS · diluted | $8.30 | $5.42 | $3.27 | $5.39 | $2.69 | $8.93 | $10.98 | $13.66 | $17.01 |
| EPS · low estimate | — | — | — | — | — | $8.62 | $9.82 | $10.87 | $16.34 |
| EPS · high estimate | — | — | — | — | — | $9.22 | $11.61 | $15.83 | $17.70 |
| Shares · basic | 62.69M | 63.12M | 61.27M | 59.56M | 58.52M | 58.15M | 58.87M | 59.06M | 58.3M |
| Shares · diluted | 64.25M | 64.68M | 62.06M | 60.35M | 59.28M | 59.55M | 58.83M | 59.43M | 59.58M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 14 | 14 | 9 | 4 |
| Analysts (EPS) | — | — | — | — | — | 13 | 13 | 6 | 4 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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