GENERAC HOLDINGS INC（GNRC）の決算・業績分析
GENERAC HOLDINGS INCの2025年有価証券報告書をAI分析。売上高$4.2B(-2.0%)。営業利益$289M。Information Technology。
目次
GENERAC HOLDINGS INCの2025年度 業績サマリー
GENERAC HOLDINGS INC（証券コード: GNRC）の2025年度決算・業績分析。売上高は$4.2B（前年比-2.0%）。営業利益は$289M（前年比-46.1%）。純利益は$160M（前年比-49.6%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
GENERAC HOLDINGS INCの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue surged to $4.6B (+22.1% YoY), but operating income declined by 21.5% to $566M (XBRL).
- Net income fell 27.4% YoY to $400M, despite a 15.8% EBITDA margin (XBRL).
- Free cash flow turned negative at $28M due to $86M in CapEx (XBRL).
- Net debt rose to $1.0B (1.4x EBITDA), with long-term debt at $1.2B (XBRL).
- Share repurchases totaled $346M, offsetting modest dividends of $309,000 (XBRL).
GENERAC HOLDINGS INCの売上高変化の要因
- •Revenue grew to $4.6B (+22.1% YoY), driven by expansion into energy storage and solar technologies (XBRL). However, operating income declined 21.5% YoY to $566M, reflecting higher costs or expenses. The 5-year revenue CAGR of 14.7% contrasts with a 1.6% CAGR in operating income and a -2.1% CAGR in net income, suggesting margin compression (XBRL). Historical data shows a peak in FY2023 revenue ($3.7B) before declining to $4.6B in FY2024 (XBRL).
GENERAC HOLDINGS INCの営業利益変化の要因
- •Gross margin remained stable at 33.3%, but operating margin fell to 12.4% (-21.5% YoY) and net margin to 8.8% (-27.4% YoY) (XBRL). EBITDA of $722M (15.8% of revenue) highlights operational efficiency despite declining net income. R&D expenses of $160M may reflect investments in new technologies (XBRL).
GENERAC HOLDINGS INCの事業リスクと対応
Fluctuations in raw material costs (steel, copper, aluminum, batteries) and supply chain disruptions could reduce profitability (10-K).
Reliance on contract manufacturers and single-source suppliers risks production delays and quality issues (10-K).
Geopolitical conflicts (e.g., Ukraine, Middle East) and trade restrictions may disrupt supplier operations and component availability (10-K).
No segment or geographic revenue breakdown is disclosed, limiting transparency into business unit performance (XBRL).
No details on long-term debt maturity schedules, interest rates, or debt restructuring plans are provided (XBRL).
GENERAC HOLDINGS INCの事業内容
Generac Holdings Inc. (GNRC) designs, manufactures, and sells energy technology solutions, including standby and portable generators, energy storage systems, solar inverters, and EV charging solutions for residential, commercial, and industrial markets (10-K). The company leverages its leadership in natural gas generators, broad product portfolio, and investments in energy storage and connectivity platforms to maintain a competitive edge (10-K). No significant customer concentration is reported (N/A).
GENERAC HOLDINGS INCのAI業績分析レポート（2024年度）
Generac Holdings Inc. (GNRC) FY2024 Annual Report Analysis
Highlights
Business Overview
Generac generates revenue by designing, manufacturing, and selling energy technology solutions, including standby and portable generators, energy storage systems, solar inverters, and EV charging solutions for residential, commercial, and industrial markets (10-K). The company’s competitive advantages include a broad product portfolio, leadership in natural gas generators, and investments in energy storage and connectivity platforms (10-K). No significant customer concentration is reported (N/A).
Revenue Analysis
Revenue grew to $4.6B (+22.1% YoY), driven by expansion into energy storage and solar technologies (XBRL). However, operating income declined 21.5% YoY to $566M, reflecting higher costs or expenses. The 5-year revenue CAGR of 14.7% contrasts with a 1.6% CAGR in operating income and a -2.1% CAGR in net income, suggesting margin compression (XBRL). Historical data shows a peak in FY2023 revenue ($3.7B) before declining to $4.6B in FY2024 (XBRL).
Profitability Analysis
Gross margin remained stable at 33.3%, but operating margin fell to 12.4% (-21.5% YoY) and net margin to 8.8% (-27.4% YoY) (XBRL). EBITDA of $722M (15.8% of revenue) highlights operational efficiency despite declining net income. R&D expenses of $160M may reflect investments in new technologies (XBRL).
Balance Sheet Analysis
Equity ratio of 45.3% and D/E ratio of 1.17x indicate moderate leverage (XBRL). Current ratio of 2.27x suggests strong liquidity. Total assets grew to $5.2B, with equity at $2.3B. Net debt of $1.0B (1.4x EBITDA) and cash reserves of $201M highlight a balanced capital structure (XBRL).
Cash Flow Analysis
Operating cash flow was $59M, but free cash flow turned negative at $28M due to $86M in CapEx (XBRL). Investing cash flow was -$134M, likely reflecting capital expenditures and R&D investments. Financing cash flow of $64M included $346M in share repurchases and $309,000 in dividends (XBRL).
Working Capital Analysis
Cash conversion cycle (CCC) was 142 days, driven by 140 days of inventory and 43 days of receivables (XBRL). Payables days were 41 days, indicating efficient supplier management (XBRL).
Risks
Outlook
N/A. Management guidance and forward-looking trends are not explicitly mentioned in the 10-K or XBRL data (XBRL).
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 2.0B | 2.2B | 2.5B | 3.7B | 4.6B | 4.0B |
| Operating Income | 357M | 372M | 479M | 721M | 566M | 386M |
| Net Income | 238M | 252M | 351M | 550M | 400M | 215M |
| Total Assets | 2.4B | 2.7B | 3.2B | 4.9B | 5.2B | 5.1B |
| Total Equity | 1.0B | 1.4B | 2.2B | 2.3B | 2.3B | 2.5B |
| Operating Cash Flow | 247M | 309M | 487M | 411M | 59M | 522M |
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