Generac Holdings Inc. (GNRC) Income Statement
GNRC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsGNRC revenue and net income
Where GNRC's revenue goes
2025Each bar shows an amount and its share of revenue. GNRC kept 3.8% of revenue as net income.
GNRC profit margins
GNRC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −2.0% | −2.7% | +11.1% | +12.3% |
| Gross profit | −3.2% | +1.9% | +11.0% | +13.4% |
| Operating income | −46.1% | −20.1% | −9.6% | +4.9% |
| Net income | −50.9% | −26.4% | −14.5% | +7.5% |
| EPS (diluted) | −12.8% | −9.7% | −0.4% | +8.2% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
GNRC quarterly EPS vs estimates
Generac beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: October 28, 2026 (estimate $2.38).
GNRC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.21B | $4.30B | $4.02B | $4.56B | $3.74B | $2.49B | $2.20B | $2.02B | $1.67B | $1.44B |
| Cost of revenue | $2.60B | $2.63B | $2.66B | $3.04B | $2.38B | $1.53B | $1.41B | $1.30B | $1.09B | $930.3M |
| Gross profit | $1.61B | $1.67B | $1.37B | $1.52B | $1.36B | $957.7M | $797.8M | $725.0M | $582.1M | $514.1M |
| Research & development | $243.5M | $219.6M | $173.4M | $159.8M | $104.3M | $80.3M | $68.4M | $50.0M | $42.9M | $37.2M |
| Sales, general & admin | $977.6M | $811.5M | $701.6M | $692.6M | $463.3M | $364.6M | $328.6M | $295.7M | $259.3M | $239.3M |
| Total operating expenses | $1.32B | $1.13B | $979.2M | $955.7M | $638.9M | $478.5M | $425.6M | $367.9M | $334.2M | $309.7M |
| Operating income | $289.2M | $536.7M | $386.2M | $566.3M | $721.1M | $479.1M | $372.2M | $357.2M | $251.1M | $204.6M |
| Interest income | — | — | — | — | — | — | $38.8M | $39.1M | $42.4M | $44.5M |
| Interest expense | $70.7M | $89.7M | $97.6M | $54.8M | $33.0M | $33.0M | $41.5M | $41.0M | $42.7M | $44.5M |
| Income before taxes | $199.1M | $409.4M | $290.3M | $508.5M | $691.5M | $446.2M | $319.6M | $311.1M | $204.7M | $156.4M |
| Income taxes | $37.7M | $92.5M | $73.2M | $99.6M | $135.0M | $99.0M | $67.3M | $69.9M | $43.6M | $57.6M |
| Net income | $159.6M | $325.3M | $203.1M | $399.5M | $533.4M | $349.3M | $253.3M | $238.3M | $159.4M | $98.8M |
| EBITDA | $464.6M | $670.9M | $554.5M | $719.4M | $816.5M | $548.0M | $422.1M | $399.4M | $298.4M | $252.7M |
| EPS (diluted) | $6.35 | $7.28 | $5.42 | $8.61 | $9.63 | $6.47 | $5.07 | $4.70 | $3.40 | $3.04 |
| Gross margin | 38.3% | 38.8% | 33.9% | 33.3% | 36.4% | 38.5% | 36.2% | 35.8% | 34.8% | 35.6% |
| Operating margin | 6.9% | 12.5% | 9.6% | 12.4% | 19.3% | 19.3% | 16.9% | 17.7% | 15.0% | 14.2% |
| Net margin | 3.8% | 7.6% | 5.0% | 8.8% | 14.3% | 14.1% | 11.5% | 11.8% | 9.5% | 6.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.17B | $1.06B | $1.09B | $1.11B | $1.06B | $942.1M | $1.23B | $1.17B | $998.2M | $889.3M | $1.06B | $1.07B |
| Cost of revenue | $651.7M | $649.1M | $695.4M | $687.4M | $644.4M | $570.1M | $733.4M | $701.3M | $622.6M | $572.9M | $674.9M | $694.9M |
| Gross profit | $521.8M | $410.2M | $396.1M | $426.9M | $416.7M | $372.0M | $501.4M | $472.3M | $375.6M | $316.4M | $388.7M | $375.8M |
| Research & development | $65.8M | $62.7M | $61.0M | $60.1M | $60.4M | $62.0M | $59.3M | $56.9M | $54.0M | $49.4M | $44.4M | $43.3M |
| Sales, general & admin | $214.8M | $199.9M | $319.0M | $238.9M | $218.9M | $200.8M | $220.1M | $222.6M | $193.5M | $175.3M | $167.7M | $201.0M |
| Total operating expenses | $311.4M | $292.9M | $405.4M | $323.8M | $305.0M | $288.3M | $303.4M | $303.6M | $272.3M | $249.5M | $237.8M | $271.0M |
| Operating income | $210.4M | $117.3M | −$9.3M | $103.1M | $111.8M | $83.6M | $198.0M | $168.6M | $103.2M | $66.9M | $151.0M | $104.8M |
| Interest expense | $16.8M | $15.4M | $16.9M | $18.5M | $18.2M | $17.1M | $19.9M | $22.9M | $23.3M | $23.6M | $24.8M | $24.7M |
| Income before taxes | $189.7M | $96.8M | −$27.6M | $78.3M | $89.9M | $58.5M | $145.0M | $147.2M | $78.7M | $38.5M | $126.8M | $80.1M |
| Income taxes | $46.7M | $23.6M | −$3.7M | $11.8M | $15.4M | $14.2M | $27.3M | $33.5M | $19.6M | $12.0M | $30.0M | $19.4M |
| Net income | $143.2M | $73.3M | −$24.5M | $66.2M | $74.0M | $43.8M | $128.9M | $113.7M | $59.1M | $23.5M | $96.0M | $60.3M |
| EBITDA | $206.5M | $168.1M | $40.4M | $146.0M | $156.4M | $121.8M | $208.7M | $213.3M | $144.9M | $104.0M | $194.0M | $147.7M |
| EPS (diluted) | $2.91 | $1.80 | $1.61 | $1.83 | $1.65 | $1.26 | $2.80 | $2.25 | $1.35 | $0.88 | $2.07 | $1.64 |
| Gross margin | 44.5% | 38.7% | 36.3% | 38.3% | 39.3% | 39.5% | 40.6% | 40.2% | 37.6% | 35.6% | 36.5% | 35.1% |
| Operating margin | 17.9% | 11.1% | −0.9% | 9.3% | 10.5% | 8.9% | 16.0% | 14.4% | 10.3% | 7.5% | 14.2% | 9.8% |
| Net margin | 12.2% | 6.9% | −2.2% | 5.9% | 7.0% | 4.7% | 10.4% | 9.7% | 5.9% | 2.6% | 9.0% | 5.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in GNRC's financial statements (latest annual report filed February 18, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
GNRC financial results
In fiscal year 2025 (ended December 31, 2025), Generac reported revenue of $4.2 billion, down 2.0% from the year before. It had net income of $159.6 million (down 50.9%), a net profit margin of 3.8%. Diluted earnings per share came to $6.35. Over five years revenue grew at an average rate of 11.1% a year.
See the GNRC stock overview for the latest quote and news, or the GNRC chart for price history and technical indicators.
GNRC income statement FAQ
What is Generac's annual revenue?
Generac reported total revenue of $4.2 billion for fiscal year 2025, which ended on December 31, 2025. That was down 2.0% from $4.3 billion the previous year.
Is Generac profitable?
Yes. Generac reported net income of $159.6 million in fiscal 2025, a net profit margin of 3.8%; its operating margin was 6.9%.
What is Generac's gross margin?
Generac's gross margin was 38.3% in fiscal 2025: for every $100 of revenue, Generac kept $38 after the direct cost of its products and services.
How much does Generac spend on research and development?
Generac spent $243.5 million on research and development in fiscal 2025, 5.8% of revenue.
How fast is Generac growing?
Revenue grew 11.1% a year on average over the last five fiscal years, from $2.5 billion to $4.2 billion.
What are Generac's earnings per share?
Generac earned $6.35 per diluted share in fiscal 2025, compared with $7.28 a year earlier.
When will Generac report its next earnings?
Generac is expected to report results for the quarter ending September 30, 2026 on October 28, 2026 before the market opens.
When does Generac's fiscal year end?
Generac's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 18, 2026.