GNRCNYSEMotors & GeneratorsUS GAAP · USD

Generac Holdlings Inc

Generac Holdings designs and manufactures backup power and broader energy technology equipment for homes and businesses, with roots going back to 1959. Its portfolio spans standby and portable generators, energy storage, energy management devices, and related services that support residential, commercial, data center, telecom, rental, and industrial customers.

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Revenue4,209m USD
−2.0 %y/y
Operating profit (EBIT)289m USD
−46.1 %y/y
EBIT margin6.9%
−5.6 ppy/y
Net income160m USD
−49.6 %y/y
Free cash flow268m USD
−55.6 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

01,0002,0003,0004,0005,000m USD2020: 2,485 m USD2020: EBIT 479 m USD20202021: 3,737 m USD2021: EBIT 721 m USD20212022: 4,565 m USD2022: EBIT 566 m USD20222023: 4,023 m USD2023: EBIT 386 m USD20232024: 4,296 m USD2024: EBIT 537 m USD20242025: 4,209 m USD2025: EBIT 289 m USD20254,209289
RevenueOperating profit (EBIT)
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Business

Share of revenue
Residential power generation45 %

Home standby and portable generators sold through dealers, retailers, and e-commerce.

Commercial & industrial power generation30 %

Backup and prime power systems for commercial sites, industrial users, and critical infrastructure.

Energy technology and storage10 %

Battery storage, inverters, smart thermostats, and energy management solutions.

Mobile power and rental products8 %

Towable and mobile generator products used by rental fleets, construction, and events.

Other products and services7 %

Service parts, extended warranties, installation, maintenance, telecom build-out, and monitoring subscriptions.

Products

Reported · share of revenue
53.9%34.6%11.5%FY2025100 %
  • Residential Power Products53.9 %
  • Commercial and Industrial Power Products34.6 %
  • Other Products and Services11.5 %

Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

Generac sells to homeowners seeking backup power, but a large part of the business also serves commercial and industrial end users that need reliable electricity for operations and uptime. Distribution is broad and includes independent dealers, contractors, retailers, e-commerce partners, rental companies, wholesalers, and direct national accounts. The company also sells directly into data centers, telecom, retail, banking, healthcare, government, and other critical infrastructure applications.

Residential homeowners

Buy standby and portable generators for backup during outages and storm events.

Residential dealers and contractors

Purchase equipment, training, and support to install and service home backup systems.

Commercial & industrial end users

Buy generators and power systems to protect operations, facilities, and critical loads.

Data center and telecom customers

Buy resilient power and related services to maintain uptime for mission-critical infrastructure.

Rental and construction channels

Buy mobile power products for fleet use, job sites, events, and temporary power needs.

Strategy

Generac is expanding beyond traditional generators into a broader energy technology platform that includes storage, energy management, and connected services. It is also pushing direct sales into critical infrastructure markets such as data centers and telecom while using its dealer and omni-channel network to deepen residential penetration. Supply-chain redesign and pricing actions are part of the effort to offset tariff pressure and protect profitability.

Broaden the energy technology portfolioMedium term

Reduces dependence on outage-driven generator demand and expands addressable markets.

Increase penetration of home standby systemsMedium term

Residential backup power remains underpenetrated, leaving room for unit growth.

Expand direct industrial and critical-infrastructure salesShort term

Direct relationships improve solution customization and access to higher-value accounts.

Mitigate tariff and supply-chain cost pressureShort term

Imported components and finished goods can pressure margins and pricing competitiveness.

Geography

Generac is a U.S.-based company with global sales, commercial branches, and a diversified supply chain that spans multiple countries. The filing highlights efforts to mitigate U.S. import tariffs through supply-chain changes, which makes sourcing geography strategically important even though country-level revenue is not disclosed. Demand is tied to outage activity and capital spending patterns across the U.S. and international commercial markets.

Risks

Demand is highly sensitive to outage activity, so sales can swing materially with weather, storm frequency, and power-grid conditions. The company also faces tariff, supply-chain, cybersecurity, and debt-related risks that can affect margins, product availability, and reputation. Because many products are installed and serviced through third parties, dealer capacity and labor availability can also constrain growth.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Outage-dependent demand volatility1Tariff and trade policy pressure2Cybersecurity and connected-product risk3Leverage and refinancing risk4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Outage-dependent demand volatilityImpact: HighLikelihood: High

    A large share of demand is tied to unpredictable power outages and storm activity.

    Exposure: Residential and backup power products

  2. Tariff and trade policy pressureImpact: HighLikelihood: High

    Imports into the U.S. can face tariffs, raising input costs and potentially reducing demand.

    Exposure: Supply chain and pricing

  3. Cybersecurity and connected-product riskImpact: HighLikelihood: Low

    Attacks on IT systems or connected devices could cause product failure, data loss, or liability.

    ExposureMobile LinkFleetConnected devices
  4. Leverage and refinancing riskImpact: MediumLikelihood: Low

    Indebtedness can constrain cash flow and increase sensitivity to interest-rate or covenant pressure.

    Exposure: Capital structure

  5. Dealer and installer capacity constraintsImpact: Medium

    Sales depend on third-party dealers and technicians to install and service systems.

    Exposure: Residential and commercial channels

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Accounting

Judgemental items
Goodwill and indefinite-lived intangible impairment

Management identifies this as a critical estimate; weaker demand or lower valuations could trigger charges.

Impact: Could materially affect reported earnings and equity

Income tax estimates

Tax judgments affect the effective tax rate and can create volatility when assumptions change.

Impact: Can materially affect net income

Warranty and other reserves

Product reliability and service obligations require estimates for future claims and costs.

Impact: Affects gross margin and operating expenses

Revenue recognition across products and services

The company sells equipment, subscriptions, installation, and maintenance, which may have different timing rules.

Impact: Affects revenue timing and mix

Legal and regulatory provisions

The company recorded significant provisions for legal and other matters in recent periods.

Impact: Can create large non-core expense swings

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Last updated: 24/09/2026

Generac Holdlings Inc (GNRC) Revenue, Earnings & Financials 2025 – Clarifo