Financials Generac Holdings, Inc.

Equities

GNRC

US3687361044

Electrical Components & Equipment

Market Closed - Nyse Other stock markets 04:00:02 2024-05-10 pm EDT			5-day change	1st Jan Change
137.5 ^USD	-1.18%		+3.10%	+6.41%

May. 10	Argus Adjusts Price Target on Generac Holdings to $160 From $155	MT
May. 08	Wells Fargo Adjusts Price Target on Generac Holdings to $139 From $128	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	6,291	14,291	22,203	6,377	7,939	8,336	-	-
Enterprise Value (EV) ¹	6,867	14,521	23,035	7,676	9,314	9,332	9,017	8,773
P/E ratio	25 x	41.5 x	42.4 x	18.6 x	39.5 x	29 x	20.4 x	16.3 x
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	2.85 x	5.75 x	5.94 x	1.4 x	1.97 x	1.99 x	1.82 x	1.65 x
EV / Revenue	3.12 x	5.84 x	6.16 x	1.68 x	2.32 x	2.23 x	1.96 x	1.74 x
EV / EBITDA	15.1 x	24.9 x	26.7 x	9.3 x	14.6 x	13.2 x	10.6 x	9.04 x
EV / FCF	27.7 x	34.2 x	76.5 x	-318 x	23.7 x	25.3 x	21.4 x	22.7 x
FCF Yield	3.61%	2.92%	1.31%	-0.31%	4.22%	3.95%	4.66%	4.4%
Price to Book	6.1 x	10.4 x	10.1 x	2.76 x	3.43 x	3.19 x	2.85 x	2.68 x
Nbr of stocks (in thousands)	62,542	62,841	63,090	63,356	61,432	60,614	-	-
Reference price ²	100.6	227.4	351.9	100.7	129.2	137.5	137.5	137.5
Announcement Date	2/13/20	2/11/21	2/16/22	2/15/23	2/14/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,204	2,485	3,737	4,565	4,023	4,192	4,591	5,039
EBITDA ¹	454.1	583.8	861.4	825.4	637.9	708.7	852.7	970.2
EBIT ¹	372.2	479.1	721.1	566.3	386.2	491	639.5	727.6
Operating Margin	16.88%	19.28%	19.3%	12.41%	9.6%	11.71%	13.93%	14.44%
Earnings before Tax (EBT) ¹	319.6	446.2	691.5	508.5	290.3	394.3	573	724.1
Net income ¹	252	350.6	550.5	399.5	214.6	290.1	417.8	513
Net margin	11.43%	14.11%	14.73%	8.75%	5.33%	6.92%	9.1%	10.18%
EPS ²	4.030	5.480	8.300	5.420	3.270	4.736	6.740	8.454
Free Cash Flow ¹	248.1	424.4	301.2	-24.11	392.6	368.5	420.4	386.2
FCF margin	11.25%	17.08%	8.06%	-0.53%	9.76%	8.79%	9.16%	7.66%
FCF Conversion (EBITDA)	54.63%	72.7%	34.96%	-	61.55%	52%	49.31%	39.8%
FCF Conversion (Net income)	98.44%	121.06%	54.71%	-	182.94%	127.04%	100.63%	75.28%
Dividend per Share ²	-	-	-	-	-	-	-	-
Announcement Date	2/13/20	2/11/21	2/16/22	2/15/23	2/14/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	1,067	1,136	1,291	1,088	1,049	887.9	1,000	1,071	1,064	889.3	1,004	1,132	1,159	1,013	1,122
EBITDA ¹	220.4	196.4	271.5	183.8	173.7	100.1	136.5	188.6	212.6	127.2	150.6	208.1	231.9	174.5	204.4
EBIT ¹	175.5	154.7	216.8	87.52	107.2	44.48	85.97	104.8	151	66.87	97.76	152	176.2	107.4	149
Operating Margin	16.45%	13.62%	16.79%	8.04%	10.22%	5.01%	8.59%	9.79%	14.19%	7.52%	9.74%	13.42%	15.2%	10.61%	13.28%
Earnings before Tax (EBT) ¹	166.6	145.5	203.5	72.04	87.46	22.01	61.42	80.06	126.8	38.51	72.77	129.7	153.7	90.47	128
Net income ¹	142.9	113.9	156.4	58.27	71.02	12.43	45.2	60.38	96.6	26.23	53.43	95.75	115	70.17	91.64
Net margin	13.39%	10.02%	12.11%	5.35%	6.77%	1.4%	4.52%	5.64%	9.08%	2.95%	5.32%	8.46%	9.92%	6.93%	8.17%
EPS ²	2.040	1.570	2.210	0.8300	0.8300	0.0500	0.7000	0.9700	1.570	0.3900	0.8707	1.572	1.877	1.091	1.449
Dividend per Share ²	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	2/16/22	5/4/22	8/3/22	11/2/22	2/15/23	5/3/23	8/2/23	11/1/23	2/14/24	5/1/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	576	230	833	1,298	1,374	996	681	437
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.268 x	0.3941 x	0.9667 x	1.573 x	2.154 x	1.405 x	0.7987 x	0.4507 x
Free Cash Flow ¹	248	424	301	-24.1	393	368	420	386
ROE (net income / shareholders' equity)	28.1%	28.9%	30.5%	17.9%	14.6%	14.7%	16.3%	18.2%
ROA (Net income/ Total Assets)	12.6%	11.9%	13.6%	10.7%	6.53%	6.14%	7.27%	7.4%
Assets ¹	2,008	2,951	4,057	3,725	3,284	4,721	5,748	6,933
Book Value Per Share ²	16.50	21.80	34.70	36.50	37.70	43.10	48.20	51.30
Cash Flow per Share	4.910	7.630	6.400	0.9000	8.410	-	-	-
Capex ¹	60.8	62.1	110	86.2	129	124	129	143
Capex / Sales	2.76%	2.5%	2.94%	1.89%	3.21%	2.96%	2.82%	2.85%
Announcement Date	2/13/20	2/11/21	2/16/22	2/15/23	2/14/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Generac Holdings, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

D+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

137.5 USD

Average target price

141.3 USD

Spread / Average Target

+2.78%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Portable Motors & Generators

	1st Jan change	Capi.
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ZHONGSHAN BROAD-OCEAN MOTOR CO., LTD.	+6.84%	1.77B
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HANGZHOU WEIGUANG ELECTRONIC CO.,LTD.	+5.93%	732M
NINGBO ZHONGDA LEADER INTELLIGENT TRANSMISSION CO., LTD.	-7.79%	701M
NEWONDER SPECIAL ELECTRIC CO.,LTD.	-6.56%	552M
SPG CO., LTD.	-20.69%	462M
ZHEJIANG DEHONG AUTOMOTIVE ELECTRONIC & ELECTRICAL CO., LTD.	-28.43%	406M
HONDA INDIA POWER PRODUCTS LIMITED	+0.13%	291M
ZHEJIANG DIBAY ELECTRIC CO.,LTD.	-13.32%	248M

Portable Motors & Generators