The Gorman-Rupp Company
Gorman-Rupp designs, manufactures, and sells pumps and pump systems for moving water and other liquids across municipal, industrial, agricultural, fire suppression, HVAC, petroleum, and military applications. The company is organized around engineered pumping solutions and a large installed base that drives recurring replacement parts and service demand.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueCore pump models for water, wastewater, industrial, petroleum, agriculture, and fire applications.
Integrated water and wastewater pumping stations and other engineered systems.
Parts and service tied to the installed base of critical-duty pumps.
Products
Reported · share of revenue- Industrial20.5 %
- Fire Market18.8 %
- Municipal15.2 %
- Agriculture12.4 %
- Repair Parts11.7 %
- Other21.5 %
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
Customers are mainly municipalities, contractors, industrial operators, agricultural users, petroleum-related buyers, and OEMs that need reliable liquid-handling equipment. Many purchases are application-specific and driven by uptime, delivery speed, service support, and product performance rather than commodity pricing alone.
Buys pumps and packaged stations for water transfer, sewage, and treatment infrastructure.
Buys portable and high-capacity pumps for jobsite water removal and temporary fluid handling.
Buys engineered pumps for process, transfer, and liquid-handling applications in harsh environments.
Buys pumps for irrigation and water management; demand is tied to farm economics and weather.
Buys specialized pumps and systems for building protection and climate-control infrastructure.
Buys pumps for incorporation into third-party equipment and systems.
Strategy
Management is focused on improving profitability through manufacturing footprint optimization, product development, and investment in equipment, technology, and facilities. The company is also leaning on backlog growth, service quality, and its installed base to defend share in highly competitive end markets.
Lower fixed costs and improve profitability without materially hurting sales capacity.
Supports demand in fire, municipal, and HVAC markets where the company sees growth.
Engineering, quality, and manufacturing capability are key differentiators in engineered pumps.
Broader geographic reach reduces dependence on any one market and supports long-term growth.
Geography
Gorman-Rupp is headquartered in the United States but sells globally, with shipments to about 140 countries in 2025. The company disclosed no single foreign country shipments or single customer above 10% of net sales in 2023-2025, indicating a diversified international footprint with meaningful domestic concentration.
Risks
The business is exposed to cyclical demand, pricing pressure, and intense competition in a fragmented pump market. It also faces execution risk from raw material inflation, tariffs, foreign exchange, cybersecurity, acquisitions, and the challenge of maintaining key personnel and manufacturing efficiency.
- Raw material and labor cost inflationImpact: HighLikelihood: High
Higher input costs may not be fully passed through to customers, reducing margins and backlog conversion.
Exposure: Manufacturing and supply chain
- Cyclical end-market demandImpact: HighLikelihood: Medium
Pump sales depend on customer capital investment and maintenance spending, which fall in weak economic periods.
Exposure - Competitive pricing pressureImpact: HighLikelihood: Low
The industry is fragmented and foreign-sourced pumps increase price competition in domestic markets.
Exposure: Domestic and export markets
- Foreign exchange and trade policyImpact: MediumLikelihood: Medium
International sales and sourcing create exposure to currency swings, tariffs, and import/export compliance.
Exposure: Global operations and sales
- Acquisition and integration executionImpact: MediumLikelihood: Low
Growth through acquisitions can create integration, valuation, and operational risks.
Exposure: Purchased businesses and footprint changes
- Cybersecurity and intellectual property securityImpact: MediumLikelihood: Low
Operational disruption or data compromise could affect production, customer trust, and product development.
Exposure
Accounting
Judgemental itemsInflation and inventory changes can materially affect cost of sales and gross margin.
Impact: Affects reported profitability and comparability across periods
Acquisitions and changing market conditions can require impairment testing.
Impact: Could create non-cash charges and reduce equity
Defined benefit plan settlements can create periodic charges outside core operations.
Impact: Can distort operating and net income in affected periods
Restructuring costs from plant consolidation affect short-term earnings and cash flow.
Impact: One-time charges in 2025 included inventory rationalization, severance, and facility costs
Management excludes certain financing and restructuring items in adjusted measures.
Impact: Affects how investors assess underlying operating performance
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Last updated: 24/09/2026