Generac Holdings Inc

Generac Holdings, founded in rural Wisconsin in 1959, designs and makes backup power equipment and related energy products. Its main residential product is the home standby generator, a permanently installed unit that switches on automatically when the grid fails. It also sells portable and mobile generators, larger standby generators for businesses, PWRcell 2 battery storage, solar microinverters and devices that help users manage their energy use and costs.

Its customers include homeowners, commercial and industrial firms, telecom operators, equipment rental companies and data centers. In 2025 Generac launched large-megawatt diesel generators for data centers. The company describes this market as supply-constrained and expects it to grow sharply as artificial intelligence (AI) spreads. Products reach buyers through independent dealers, distribution partners and large retail and rental customers. Sales tend to jump after major power outages and slow when big outages are rare.

Revenue was $4.21 billion in fiscal 2025, which ended December 31, 2025, down 2% from the year before. Residential products made up 53.9%, commercial and industrial products 34.6%, and other products and services 11.5%. The Domestic segment produced 82.5% of revenue and the International segment 17.5%. Generac targets owner-occupied single-family US houses worth over $175,000. It estimates that only about 6.75% of them have a standby generator, which it sees as room to grow.

• In Q2 FY2026 (ended Jun 30, 2026), revenue was $1.17B, up 10.6% from a year earlier, and net income was $143.2M (+93.5%).
• For fiscal 2025, revenue was $4.21B (-2.0% year over year; +11.1% a year from FY2020 to FY2025) with a 3.8% net margin.

• Over FY2021–FY2025: $1.02B in buybacks and $875K in dividends.
• Regular dividend per share increased 1 years in a row.
• Regular dividends per share grew +0.7% a year over 3 years (FY2022–FY2025).
• Dividends took 0.2% of earnings and 0.1% of free cash flow in the latest fiscal year.
• Shares outstanding changed -6.5% from Nov 1, 2021 to Jul 31, 2026.

Rank among 1514 US companies

Market value at each year end

Generac Holdings’s market value went from $2.60B at the end of 2016 to $11.92B on Nov 2, 2026, about 4.6 times as much; since the end of 2025 it is up 49%.

Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 0 open-market purchases and 31 sales ($6.7M), 31 of them under pre-arranged 10b5-1 trading plans.

Large shareholders (13G filings)

ETFs with the most weight in GNRC

1. Sales swing with power outages. Demand for most products jumps after hurricanes, storms, wildfires and blackouts. Long stretches without major outages have cut sales growth and left excess inventory before, so results can swing sharply between periods.
2. Reliance on a few outside suppliers. Generac depends on a small number of outside makers, including for the large engines in its data center generators. It can be a minor customer for them, so orders may wait when capacity is tight.
3. Big new bets must win buyers. Generac launched a next-generation home standby generator, PWRcell 2 battery storage and large data center generators in 2025. If buyers do not adopt them, or rivals win in highly competitive markets, revenue could suffer.
4. Costs of metals, parts and tariffs. Prices for steel, copper, aluminum, batteries and electronics can jump, and a significant share of parts comes from abroad. Generac usually lacks long-term supply contracts, so higher costs or new US tariffs can squeeze profits.
5. Big-ticket purchases slip in weak economies. A standby generator is a large purchase that buyers can postpone. Demand tracks spending on long-lasting goods by consumers and businesses, so an economic slowdown could reduce orders.
6. Debt and borrowing limits. Generac had about $1.26 billion of debt and $265 million of cash and investments as of June 30, 2026. Loan terms limit some actions, and refinancing may not be available on acceptable terms.

• Oct 28, 2026 Quarterly results released
• Sep 16, 2026 Major agreement signed; Unregistered sale of shares
• Jul 29, 2026 Quarterly results released
• Jun 12, 2026 Shareholder vote results
• Apr 29, 2026 Quarterly results released; Investor presentation or announcement
• Mar 25, 2026 Executive or board change; Investor presentation or announcement
• Feb 11, 2026 Quarterly results released

Generac pays almost no dividend. Its dividend yield rounded to 0% as of October 28, 2026. Reported dividend payments totaled $293,000 in fiscal 2025. That was about half a cent per share and roughly 0.2% of earnings, too little to count as a dividend record or to provide income. Instead, the company returns cash through buybacks, meaning it repurchases its own shares. Buybacks totaled $1.02 billion over fiscal 2021–2025, and the share count fell 6.5% between November 2021 and July 2026. An income investor holding this stock would need to sell shares to draw cash from it.

The share price has also swung widely. It fell 33.1% in the 2020 COVID crash but recovered within about two months. In the 2022 bear market it dropped 56.9% between January 3 and October 12, 2022, and had not regained that peak as of October 28, 2026. Its deepest decline since going public in 2010 was 83.8%. Single stocks carry more risk than diversified funds.