Gencor Industries, Inc. (GENC) 10-Year Financial Performance & Capital Metrics

GENC • • Industrial / General

IndustrialsAgricultural MachineryConstruction & Heavy EquipmentRoad Construction & Infrastructure Equipment

AboutGencor Industries, Inc., together with its subsidiaries, designs, manufactures, and sells heavy machinery used in the production of highway construction materials and environmental control equipment. The company offers hot-mix asphalt plants to produce asphalt paving materials; related asphalt plant equipment, including hot-mix storage silos, fabric filtration systems, cold feed bins, and other plant components; and a range of mobile batch plants. It also provides combustion systems that transform solid, liquid, or gaseous fuels into usable energy, or burn multiple fuels in asphalt and aggregate drying industries; and combustion systems for rotary dryers, kilns, fume and liquid incinerators, and fuel heaters, as well as industrial incinerators. In addition, the company offers thermal fluid heat transfer systems that transfer heat for storage, heating, and pumping viscous materials, such as asphalt, chemicals, heavy oils, etc. in various industrial and petrochemical applications; specialty storage tanks for various industrial uses; and asphalt pavers under the Blaw-Knox brand. Gencor Industries, Inc. sells its products primarily to the highway construction industry through its sales representatives, and independent dealers and agents worldwide. The company was formerly known as Mechtron International Corporation and changed its name to Gencor Industries, Inc. in 1987. Gencor Industries, Inc. was founded in 1894 and is based in Orlando, Florida.Show more

Revenue $115M +2.0%
EBITDA $16M +0.5%
Net Income $16M +7.6%
EPS (Diluted) 1.07 +8.1%
Gross Margin 27.47% -0.8%
EBITDA Margin 14.18% -1.5%
Operating Margin 12.14% +0.4%
Net Margin 13.57% +5.5%
ROE 7.68% -0.4%
ROIC 5.9% -3.5%
Debt/Equity 0.00 -4.8%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y profit CAGR of 23.1%
✓Trading at only 1.0x book value

✗Weaknesses

✗Low quality earnings: Net income not backed by cash flow

Price & Volume

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Growth Metrics

Revenue CAGR

10Y11.4%

5Y8.32%

3Y3.71%

TTM2.01%

Profit (Net Income) CAGR

10Y-

5Y23.14%

3Y-

TTM7.58%

EPS CAGR

10Y-

5Y23%

3Y-

TTM8.18%

ROCE

10Y Avg5.92%

5Y Avg4.93%

3Y Avg7.25%

Latest6.82%

Peer Comparison

Road Construction & Infrastructure Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ASTEAstec Industries, Inc.	1.12B	49.03	258.05	-2.47%	3.5%	7.16%	0.22%	0.19
GENCGencor Industries, Inc.	174.1M	14.11	13.19	2.01%	13.57%	7.39%	0.63%	0.00

Profit & Loss

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales/Revenue+	69.99M	80.61M	98.61M	81.33M	77.42M	85.28M	103.48M	105.08M	113.17M	115.44M
Revenue Growth %	0.78%	0.15%	0.22%	-0.18%	-0.05%	0.1%	0.21%	0.02%	0.08%	0.02%
Cost of Goods Sold+	52.47M	59.45M	71.99M	58.92M	58.47M	67.1M	82.94M	76.04M	81.84M	83.72M
COGS % of Revenue	0.75%	0.74%	0.73%	0.72%	0.76%	0.79%	0.8%	0.72%	0.72%	0.73%
Gross Profit+	17.52M	21.16M	26.62M	22.41M	18.95M	18.18M	20.54M	29.04M	31.33M	31.71M
Gross Margin %	0.25%	0.26%	0.27%	0.28%	0.24%	0.21%	0.2%	0.28%	0.28%	0.27%
Gross Profit Growth %	1.33%	0.21%	0.26%	-0.16%	-0.15%	-0.04%	0.13%	0.41%	0.08%	0.01%
Operating Expenses+	9.71M	10.92M	12.91M	12.94M	13.42M	17.48M	16.38M	15.61M	17.64M	17.7M
OpEx % of Revenue	0.14%	0.14%	0.13%	0.16%	0.17%	0.2%	0.16%	0.15%	0.16%	0.15%
Selling, General & Admin	8.14M	8.78M	9.99M	9.65M	10.36M	13.2M	12.05M	12.15M	14.33M	14.94M
SG&A % of Revenue	0.12%	0.11%	0.1%	0.12%	0.13%	0.15%	0.12%	0.12%	0.13%	0.13%
Research & Development	1.57M	2.15M	2.92M	3.29M	3.06M	4.28M	4.33M	3.46M	3.31M	2.76M
R&D % of Revenue	0.02%	0.03%	0.03%	0.04%	0.04%	0.05%	0.04%	0.03%	0.03%	0.02%
Other Operating Expenses	2K	-5K	2K	0	0	0	0	0	0	0
Operating Income+	7.82M	10.24M	13.71M	9.47M	5.54M	701K	4.17M	13.43M	13.69M	14.02M
Operating Margin %	0.11%	0.13%	0.14%	0.12%	0.07%	0.01%	0.04%	0.13%	0.12%	0.12%
Operating Income Growth %	10.84%	0.31%	0.34%	-0.31%	-0.42%	-0.87%	4.94%	2.22%	0.02%	0.02%
EBITDA+	9.21M	11.36M	15.1M	11.07M	7.18M	3.29M	6.99M	16.26M	16.29M	16.37M
EBITDA Margin %	0.13%	0.14%	0.15%	0.14%	0.09%	0.04%	0.07%	0.15%	0.14%	0.14%
EBITDA Growth %	14.59%	0.23%	0.33%	-0.27%	-0.35%	-0.54%	1.12%	1.33%	0%	0.01%
D&A (Non-Cash Add-back)	1.4M	1.13M	1.38M	1.6M	1.64M	2.59M	2.82M	2.83M	2.6M	2.36M
EBIT	7.82M	10.24M	13.89M	9.47M	5.54M	701K	4.17M	13.43M	13.69M	14.02M
Net Interest Income+	754K	650K	1.53M	2.31M	2.32M	1.76M	1.3M	2.11M	3.44M	4.37M
Interest Income	754K	650K	1.53M	2.31M	2.32M	1.76M	1.3M	2.11M	3.44M	4.37M
Interest Expense	0	0	0	0	0	0	0	0	0	0
Other Income/Expense	1.58M	1.94M	1.17M	3.35M	1.15M	5.93M	-5.86M	5.35M	7.04M	6.18M
Pretax Income+	9.4M	12.18M	14.89M	12.82M	6.68M	6.63M	-1.69M	18.78M	20.73M	20.2M
Pretax Margin %	0.13%	0.15%	0.15%	0.16%	0.09%	0.08%	-0.02%	0.18%	0.18%	0.17%
Income Tax+	2.36M	3.76M	2.33M	2.63M	1.15M	829K	-1.32M	4.11M	6.17M	4.54M
Effective Tax Rate %	0.75%	0.69%	0.84%	0.8%	0.83%	0.88%	0.22%	0.78%	0.7%	0.78%
Net Income+	7.04M	8.42M	12.56M	10.2M	5.53M	5.8M	-372K	14.67M	14.56M	15.66M
Net Margin %	0.1%	0.1%	0.13%	0.13%	0.07%	0.07%	-0%	0.14%	0.13%	0.14%
Net Income Growth %	4.87%	0.2%	0.49%	-0.19%	-0.46%	0.05%	-1.06%	40.42%	-0.01%	0.08%
Net Income (Continuing)	7.04M	8.42M	12.69M	10.2M	5.53M	5.8M	-372K	14.67M	14.56M	15.66M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.48	0.57	0.85	0.69	0.38	0.39	-0.03	1.00	0.99	1.07
EPS Growth %	4.69%	0.19%	0.49%	-0.19%	-0.45%	0.03%	-1.07%	40.37%	-0.01%	0.08%
EPS (Basic)	0.49	0.58	0.87	0.70	0.38	0.40	-0.03	1.00	0.99	1.07
Diluted Shares Outstanding	14.52M	14.68M	14.72M	14.71M	14.72M	14.73M	14.66M	14.66M	14.66M	14.66M
Basic Shares Outstanding	14.33M	14.4M	14.49M	14.55M	14.6M	14.61M	14.66M	14.66M	14.66M	14.66M
Dividend Payout Ratio	0%	-	-	-	-	-	-	-	-	-

Balance Sheet

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Total Current Assets+	123.42M	137.12M	145.08M	156.93M	161.76M	166.82M	162.48M	178.95M	192.84M	206.54M
Cash & Short-Term Investments	104.16M	110.82M	112.07M	115.62M	125.08M	118.21M	98.88M	101.28M	115.41M	136.3M
Cash Only	18.22M	22.93M	8.01M	10.3M	35.58M	23.23M	9.58M	17.03M	25.48M	26.59M
Short-Term Investments	85.94M	87.89M	104.06M	105.32M	89.5M	94.98M	89.3M	84.25M	89.93M	109.71M
Accounts Receivable	6.03M	7.95M	12.89M	15.44M	8.4M	4.53M	5.11M	3.98M	11.32M	15.34M
Days Sales Outstanding	31.45	36.01	47.72	69.3	39.59	19.37	18.04	13.81	36.51	48.5
Inventory	11.63M	16.69M	18.21M	25.37M	27.09M	41.89M	55.81M	71.53M	63.76M	53.5M
Days Inventory Outstanding	80.94	102.45	92.34	157.15	169.12	227.86	245.64	343.35	284.38	233.25
Other Current Assets	0	0	0	0	0	0	0	0	0	0
Total Non-Current Assets+	5.29M	5.78M	7.94M	8.44M	9.34M	12.64M	16.83M	16.79M	15.28M	16.05M
Property, Plant & Equipment	5.24M	5.72M	7.89M	8.39M	8.34M	11.8M	13.49M	13.25M	11.47M	11.08M
Fixed Asset Turnover	13.36x	14.09x	12.50x	9.69x	9.28x	7.23x	7.67x	7.93x	9.86x	10.42x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	53K	53K	-978K	-582K	102K	-1.39M	450K	381K	383K	392K
Total Assets+	128.71M	142.89M	153.02M	165.37M	171.09M	179.46M	179.31M	195.75M	208.12M	222.6M
Asset Turnover	0.54x	0.56x	0.64x	0.49x	0.45x	0.48x	0.58x	0.54x	0.54x	0.52x
Asset Growth %	0.07%	0.11%	0.07%	0.08%	0.03%	0.05%	-0%	0.09%	0.06%	0.07%
Total Current Liabilities+	8.19M	12.37M	8.49M	6.49M	8.51M	11.39M	12.39M	14.16M	10.6M	8.81M
Accounts Payable	1.44M	1.32M	1.84M	1.91M	1.73M	3.1M	4.25M	3.27M	2M	1.84M
Days Payables Outstanding	10.04	8.1	9.32	11.81	10.79	16.89	18.71	15.69	8.92	8.03
Short-Term Debt	0	0	0	0	328K	393K	390K	328K	330K	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	0	0	0	726K	-209K	-393K	-390K	1.42M	-330K	0
Current Ratio	15.07x	11.08x	17.10x	24.20x	19.00x	14.65x	13.11x	12.63x	18.19x	23.44x
Quick Ratio	13.65x	9.73x	14.95x	20.29x	15.82x	10.97x	8.61x	7.58x	12.17x	17.37x
Cash Conversion Cycle	102.35	130.36	130.75	214.63	197.92	230.33	244.97	341.46	311.96	273.72
Total Non-Current Liabilities+	316K	1.6M	2.36M	3.37M	1.36M	786K	6K	176K	1.38M	1.98M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	614K	392K	6K	0	0	0
Deferred Tax Liabilities	316K	1.6M	2.36M	3.37M	746K	394K	-2.13M	-2.09M	1.38M	-1.82M
Other Non-Current Liabilities	0	0	282K	0	746K	394K	0	176K	0	1.98M
Total Liabilities	8.51M	13.97M	10.84M	9.86M	9.87M	12.17M	12.4M	14.16M	11.98M	10.79M
Total Debt+	0	0	0	0	942K	785K	396K	328K	330K	339K
Net Debt	-18.22M	-22.93M	-8.01M	-10.3M	-34.64M	-22.45M	-9.19M	-16.7M	-25.15M	-26.25M
Debt / Equity	-	-	-	-	0.01x	0.00x	0.00x	0.00x	0.00x	0.00x
Debt / EBITDA	-	-	-	-	0.13x	0.24x	0.06x	0.02x	0.02x	0.02x
Net Debt / EBITDA	-1.98x	-2.02x	-0.53x	-0.93x	-4.83x	-6.82x	-1.31x	-1.03x	-1.54x	-1.60x
Interest Coverage	-	-	-	-	-	-	-	-	-	-
Total Equity+	120.2M	128.92M	142.18M	155.51M	161.22M	167.29M	166.92M	181.58M	196.14M	211.8M
Equity Growth %	0.07%	0.07%	0.1%	0.09%	0.04%	0.04%	-0%	0.09%	0.08%	0.08%
Book Value per Share	8.28	8.78	9.66	10.57	10.95	11.36	11.39	12.39	13.38	14.45
Total Shareholders' Equity	120.2M	128.92M	142.18M	155.51M	161.22M	167.29M	166.92M	181.58M	196.14M	211.8M
Common Stock	1.44M	1.44M	1.45M	1.46M	1.46M	1.47M	1.47M	1.47M	1.47M	1.47M
Retained Earnings	107.88M	116.3M	128.86M	141.9M	147.43M	153.23M	152.86M	167.53M	182.09M	197.75M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-19.57M	-20.48M	-21.75M	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash from Operations+	6.99M	6.11M	-12M	4.16M	26.77M	3.82M	-9.13M	10.2M	9.29M	3.07M
Operating CF Margin %	0.1%	0.08%	-0.12%	0.05%	0.35%	0.04%	-0.09%	0.1%	0.08%	0.03%
Operating CF Growth %	0.55%	-0.13%	-2.96%	1.35%	5.43%	-0.86%	-3.39%	2.12%	-0.09%	-0.67%
Net Income	7.04M	8.42M	12.56M	10.2M	5.53M	5.8M	-372K	14.67M	14.56M	15.66M
Depreciation & Amortization	1.4M	1.13M	1.38M	1.6M	1.64M	2.59M	2.82M	2.83M	2.6M	2.36M
Stock-Based Compensation	37K	71K	71K	71K	71K	0	0	0	0	0
Deferred Taxes	1.65M	1.28M	757K	732K	-2.63M	-451K	-3.29M	-274K	1.12M	-553K
Other Non-Cash Items	-1.41M	-1.83M	-15.96M	-1.08M	15.87M	-5.43M	5.87M	5.5M	-2.4M	-1.28M
Working Capital Changes	-1.72M	-2.97M	-10.81M	-7.35M	6.28M	1.3M	-14.17M	-12.53M	-6.59M	-13.12M
Change in Receivables	-341K	-189K	-19K	-785K	6.99M	3.82M	-568K	239K	-7.34M	-4.07M
Change in Inventory	1.14M	-5.05M	-1.53M	-3.48M	-1.72M	-4.41M	-13.93M	-15.71M	7.76M	10.26M
Change in Payables	-86K	-123K	518K	69K	-179K	1.38M	1.15M	-982K	-1.27M	-159K
Cash from Investing+	-306K	-1.62M	-3.55M	-2.1M	-1.59M	-16.44M	-4.52M	-2.75M	-840K	-1.96M
Capital Expenditures	-306K	-1.62M	-3.55M	-2.1M	-1.59M	-2.66M	-4.52M	-2.75M	-840K	-1.96M
CapEx % of Revenue	0%	0.02%	0.04%	0.03%	0.02%	0.03%	0.04%	0.03%	0.01%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	7K	0	0	0	0	1.58M	0	0	0
Cash from Financing+	380K	223K	626K	231K	103K	264K	-6	0	0	0
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-2	0	-1	0	0	0	-6	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	380K	223K	626K	231K	0	0	0	0	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	6.69M	4.48M	-15.55M	2.06M	25.18M	1.16M	-13.65M	7.45M	8.45M	1.1M
FCF Margin %	0.1%	0.06%	-0.16%	0.03%	0.33%	0.01%	-0.13%	0.07%	0.07%	0.01%
FCF Growth %	0.75%	-0.33%	-4.47%	1.13%	11.23%	-0.95%	-12.76%	1.55%	0.13%	-0.87%
FCF per Share	0.46	0.31	-1.06	0.14	1.71	0.08	-0.93	0.51	0.58	0.08
FCF Conversion (FCF/Net Income)	0.99x	0.73x	-0.95x	0.41x	4.84x	0.66x	24.56x	0.70x	0.64x	0.20x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	6.05%	6.76%	9.27%	6.85%	3.49%	3.53%	-0.22%	8.42%	7.71%	7.68%
Return on Invested Capital (ROIC)	5.76%	7.38%	8.57%	5.08%	3.06%	0.39%	2.07%	6.24%	6.11%	5.9%
Gross Margin	25.04%	26.25%	27%	27.56%	24.48%	21.32%	19.85%	27.63%	27.68%	27.47%
Net Margin	10.06%	10.44%	12.74%	12.54%	7.14%	6.81%	-0.36%	13.96%	12.86%	13.57%
Debt / Equity	-	-	-	-	0.01x	0.00x	0.00x	0.00x	0.00x	0.00x
FCF Conversion	0.99x	0.73x	-0.95x	0.41x	4.84x	0.66x	24.56x	0.70x	0.64x	0.20x
Revenue Growth	78.41%	15.17%	22.34%	-17.53%	-4.81%	10.15%	21.34%	1.54%	7.7%	2.01%

Revenue by Segment

	2015	2016	2017	2019	2020	2021	2022	2023	2024	2025
Parts and Component Sales	-	-	-	13.36M	13.9M	21.02M	23.86M	25.3M	26.46M	27.02M
Parts and Component Sales Growth	-	-	-	-	4.04%	51.24%	13.51%	6.04%	4.58%	2.12%
Freight Revenue	-	-	-	4.13M	3.98M	3.5M	4.71M	4.66M	5.17M	5.59M
Freight Revenue Growth	-	-	-	-	-3.56%	-12.20%	34.66%	-0.96%	10.89%	8.10%
Other Revenues	-	-	-	367K	320K	-	444K	825K	954K	1.14M
Other Revenues Growth	-	-	-	-	-12.81%	-	-	85.81%	15.64%	18.97%

Revenue by Geography

	2015	2016	2017	2019	2020	2021	2022	2023	2024	2025
Americas	-	-	-	-	-	-	-	-	-	103.1M
Americas Growth	-	-	-	-	-	-	-	-	-	-
CANADA	-	-	-	-	-	-	-	-	-	12.17M
CANADA Growth	-	-	-	-	-	-	-	-	-	-
Other Foreign Countries	-	-	-	-	-	-	-	-	-	170K
Other Foreign Countries Growth	-	-	-	-	-	-	-	-	-	-
UNITED STATES	39.23M	69.99M	80.61M	-	-	-	-	-	-	-
UNITED STATES Growth	-	78.41%	15.17%	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Gencor Industries, Inc. (GENC) has a price-to-earnings (P/E) ratio of 13.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Gencor Industries, Inc. (GENC) reported $115.4M in revenue for fiscal year 2025. This represents a 83% increase from $63.2M in 2012.

Gencor Industries, Inc. (GENC) grew revenue by 2.0% over the past year. Growth has been modest.

Yes, Gencor Industries, Inc. (GENC) is profitable, generating $15.7M in net income for fiscal year 2025 (13.6% net margin).

Dividend & Returns

Gencor Industries, Inc. (GENC) has a return on equity (ROE) of 7.7%. This is below average, suggesting room for improvement.

Gencor Industries, Inc. (GENC) generated $2.8M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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Gencor Industries, Inc. (GENC) 10-Year Financial Performance & Capital Metrics

GENC • • Industrial / General

IndustrialsAgricultural MachineryConstruction & Heavy EquipmentRoad Construction & Infrastructure Equipment

Revenue $115M +2.0%
EBITDA $16M +0.5%
Net Income $16M +7.6%
EPS (Diluted) 1.07 +8.1%
Gross Margin 27.47% -0.8%
EBITDA Margin 14.18% -1.5%
Operating Margin 12.14% +0.4%
Net Margin 13.57% +5.5%
ROE 7.68% -0.4%
ROIC 5.9% -3.5%
Debt/Equity 0.00 -4.8%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y profit CAGR of 23.1%
✓Trading at only 1.0x book value

✗Weaknesses

✗Low quality earnings: Net income not backed by cash flow

Price & Volume

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Growth Metrics

Revenue CAGR

10Y11.4%

5Y8.32%

3Y3.71%

TTM2.01%

Profit (Net Income) CAGR

10Y-

5Y23.14%

3Y-

TTM7.58%

EPS CAGR

10Y-

5Y23%

3Y-

TTM8.18%

ROCE

10Y Avg5.92%

5Y Avg4.93%

3Y Avg7.25%

Latest6.82%

Peer Comparison

Road Construction & Infrastructure Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ASTEAstec Industries, Inc.	1.12B	49.03	258.05	-2.47%	3.5%	7.16%	0.22%	0.19
GENCGencor Industries, Inc.	174.1M	14.11	13.19	2.01%	13.57%	7.39%	0.63%	0.00

Profit & Loss

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales/Revenue+	69.99M	80.61M	98.61M	81.33M	77.42M	85.28M	103.48M	105.08M	113.17M	115.44M
Revenue Growth %	0.78%	0.15%	0.22%	-0.18%	-0.05%	0.1%	0.21%	0.02%	0.08%	0.02%
Cost of Goods Sold+	52.47M	59.45M	71.99M	58.92M	58.47M	67.1M	82.94M	76.04M	81.84M	83.72M
COGS % of Revenue	0.75%	0.74%	0.73%	0.72%	0.76%	0.79%	0.8%	0.72%	0.72%	0.73%
Gross Profit+	17.52M	21.16M	26.62M	22.41M	18.95M	18.18M	20.54M	29.04M	31.33M	31.71M
Gross Margin %	0.25%	0.26%	0.27%	0.28%	0.24%	0.21%	0.2%	0.28%	0.28%	0.27%
Gross Profit Growth %	1.33%	0.21%	0.26%	-0.16%	-0.15%	-0.04%	0.13%	0.41%	0.08%	0.01%
Operating Expenses+	9.71M	10.92M	12.91M	12.94M	13.42M	17.48M	16.38M	15.61M	17.64M	17.7M
OpEx % of Revenue	0.14%	0.14%	0.13%	0.16%	0.17%	0.2%	0.16%	0.15%	0.16%	0.15%
Selling, General & Admin	8.14M	8.78M	9.99M	9.65M	10.36M	13.2M	12.05M	12.15M	14.33M	14.94M
SG&A % of Revenue	0.12%	0.11%	0.1%	0.12%	0.13%	0.15%	0.12%	0.12%	0.13%	0.13%
Research & Development	1.57M	2.15M	2.92M	3.29M	3.06M	4.28M	4.33M	3.46M	3.31M	2.76M
R&D % of Revenue	0.02%	0.03%	0.03%	0.04%	0.04%	0.05%	0.04%	0.03%	0.03%	0.02%
Other Operating Expenses	2K	-5K	2K	0	0	0	0	0	0	0
Operating Income+	7.82M	10.24M	13.71M	9.47M	5.54M	701K	4.17M	13.43M	13.69M	14.02M
Operating Margin %	0.11%	0.13%	0.14%	0.12%	0.07%	0.01%	0.04%	0.13%	0.12%	0.12%
Operating Income Growth %	10.84%	0.31%	0.34%	-0.31%	-0.42%	-0.87%	4.94%	2.22%	0.02%	0.02%
EBITDA+	9.21M	11.36M	15.1M	11.07M	7.18M	3.29M	6.99M	16.26M	16.29M	16.37M
EBITDA Margin %	0.13%	0.14%	0.15%	0.14%	0.09%	0.04%	0.07%	0.15%	0.14%	0.14%
EBITDA Growth %	14.59%	0.23%	0.33%	-0.27%	-0.35%	-0.54%	1.12%	1.33%	0%	0.01%
D&A (Non-Cash Add-back)	1.4M	1.13M	1.38M	1.6M	1.64M	2.59M	2.82M	2.83M	2.6M	2.36M
EBIT	7.82M	10.24M	13.89M	9.47M	5.54M	701K	4.17M	13.43M	13.69M	14.02M
Net Interest Income+	754K	650K	1.53M	2.31M	2.32M	1.76M	1.3M	2.11M	3.44M	4.37M
Interest Income	754K	650K	1.53M	2.31M	2.32M	1.76M	1.3M	2.11M	3.44M	4.37M
Interest Expense	0	0	0	0	0	0	0	0	0	0
Other Income/Expense	1.58M	1.94M	1.17M	3.35M	1.15M	5.93M	-5.86M	5.35M	7.04M	6.18M
Pretax Income+	9.4M	12.18M	14.89M	12.82M	6.68M	6.63M	-1.69M	18.78M	20.73M	20.2M
Pretax Margin %	0.13%	0.15%	0.15%	0.16%	0.09%	0.08%	-0.02%	0.18%	0.18%	0.17%
Income Tax+	2.36M	3.76M	2.33M	2.63M	1.15M	829K	-1.32M	4.11M	6.17M	4.54M
Effective Tax Rate %	0.75%	0.69%	0.84%	0.8%	0.83%	0.88%	0.22%	0.78%	0.7%	0.78%
Net Income+	7.04M	8.42M	12.56M	10.2M	5.53M	5.8M	-372K	14.67M	14.56M	15.66M
Net Margin %	0.1%	0.1%	0.13%	0.13%	0.07%	0.07%	-0%	0.14%	0.13%	0.14%
Net Income Growth %	4.87%	0.2%	0.49%	-0.19%	-0.46%	0.05%	-1.06%	40.42%	-0.01%	0.08%
Net Income (Continuing)	7.04M	8.42M	12.69M	10.2M	5.53M	5.8M	-372K	14.67M	14.56M	15.66M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.48	0.57	0.85	0.69	0.38	0.39	-0.03	1.00	0.99	1.07
EPS Growth %	4.69%	0.19%	0.49%	-0.19%	-0.45%	0.03%	-1.07%	40.37%	-0.01%	0.08%
EPS (Basic)	0.49	0.58	0.87	0.70	0.38	0.40	-0.03	1.00	0.99	1.07
Diluted Shares Outstanding	14.52M	14.68M	14.72M	14.71M	14.72M	14.73M	14.66M	14.66M	14.66M	14.66M
Basic Shares Outstanding	14.33M	14.4M	14.49M	14.55M	14.6M	14.61M	14.66M	14.66M	14.66M	14.66M
Dividend Payout Ratio	0%	-	-	-	-	-	-	-	-	-

Balance Sheet

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Total Current Assets+	123.42M	137.12M	145.08M	156.93M	161.76M	166.82M	162.48M	178.95M	192.84M	206.54M
Cash & Short-Term Investments	104.16M	110.82M	112.07M	115.62M	125.08M	118.21M	98.88M	101.28M	115.41M	136.3M
Cash Only	18.22M	22.93M	8.01M	10.3M	35.58M	23.23M	9.58M	17.03M	25.48M	26.59M
Short-Term Investments	85.94M	87.89M	104.06M	105.32M	89.5M	94.98M	89.3M	84.25M	89.93M	109.71M
Accounts Receivable	6.03M	7.95M	12.89M	15.44M	8.4M	4.53M	5.11M	3.98M	11.32M	15.34M
Days Sales Outstanding	31.45	36.01	47.72	69.3	39.59	19.37	18.04	13.81	36.51	48.5
Inventory	11.63M	16.69M	18.21M	25.37M	27.09M	41.89M	55.81M	71.53M	63.76M	53.5M
Days Inventory Outstanding	80.94	102.45	92.34	157.15	169.12	227.86	245.64	343.35	284.38	233.25
Other Current Assets	0	0	0	0	0	0	0	0	0	0
Total Non-Current Assets+	5.29M	5.78M	7.94M	8.44M	9.34M	12.64M	16.83M	16.79M	15.28M	16.05M
Property, Plant & Equipment	5.24M	5.72M	7.89M	8.39M	8.34M	11.8M	13.49M	13.25M	11.47M	11.08M
Fixed Asset Turnover	13.36x	14.09x	12.50x	9.69x	9.28x	7.23x	7.67x	7.93x	9.86x	10.42x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	53K	53K	-978K	-582K	102K	-1.39M	450K	381K	383K	392K
Total Assets+	128.71M	142.89M	153.02M	165.37M	171.09M	179.46M	179.31M	195.75M	208.12M	222.6M
Asset Turnover	0.54x	0.56x	0.64x	0.49x	0.45x	0.48x	0.58x	0.54x	0.54x	0.52x
Asset Growth %	0.07%	0.11%	0.07%	0.08%	0.03%	0.05%	-0%	0.09%	0.06%	0.07%
Total Current Liabilities+	8.19M	12.37M	8.49M	6.49M	8.51M	11.39M	12.39M	14.16M	10.6M	8.81M
Accounts Payable	1.44M	1.32M	1.84M	1.91M	1.73M	3.1M	4.25M	3.27M	2M	1.84M
Days Payables Outstanding	10.04	8.1	9.32	11.81	10.79	16.89	18.71	15.69	8.92	8.03
Short-Term Debt	0	0	0	0	328K	393K	390K	328K	330K	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	0	0	0	726K	-209K	-393K	-390K	1.42M	-330K	0
Current Ratio	15.07x	11.08x	17.10x	24.20x	19.00x	14.65x	13.11x	12.63x	18.19x	23.44x
Quick Ratio	13.65x	9.73x	14.95x	20.29x	15.82x	10.97x	8.61x	7.58x	12.17x	17.37x
Cash Conversion Cycle	102.35	130.36	130.75	214.63	197.92	230.33	244.97	341.46	311.96	273.72
Total Non-Current Liabilities+	316K	1.6M	2.36M	3.37M	1.36M	786K	6K	176K	1.38M	1.98M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	614K	392K	6K	0	0	0
Deferred Tax Liabilities	316K	1.6M	2.36M	3.37M	746K	394K	-2.13M	-2.09M	1.38M	-1.82M
Other Non-Current Liabilities	0	0	282K	0	746K	394K	0	176K	0	1.98M
Total Liabilities	8.51M	13.97M	10.84M	9.86M	9.87M	12.17M	12.4M	14.16M	11.98M	10.79M
Total Debt+	0	0	0	0	942K	785K	396K	328K	330K	339K
Net Debt	-18.22M	-22.93M	-8.01M	-10.3M	-34.64M	-22.45M	-9.19M	-16.7M	-25.15M	-26.25M
Debt / Equity	-	-	-	-	0.01x	0.00x	0.00x	0.00x	0.00x	0.00x
Debt / EBITDA	-	-	-	-	0.13x	0.24x	0.06x	0.02x	0.02x	0.02x
Net Debt / EBITDA	-1.98x	-2.02x	-0.53x	-0.93x	-4.83x	-6.82x	-1.31x	-1.03x	-1.54x	-1.60x
Interest Coverage	-	-	-	-	-	-	-	-	-	-
Total Equity+	120.2M	128.92M	142.18M	155.51M	161.22M	167.29M	166.92M	181.58M	196.14M	211.8M
Equity Growth %	0.07%	0.07%	0.1%	0.09%	0.04%	0.04%	-0%	0.09%	0.08%	0.08%
Book Value per Share	8.28	8.78	9.66	10.57	10.95	11.36	11.39	12.39	13.38	14.45
Total Shareholders' Equity	120.2M	128.92M	142.18M	155.51M	161.22M	167.29M	166.92M	181.58M	196.14M	211.8M
Common Stock	1.44M	1.44M	1.45M	1.46M	1.46M	1.47M	1.47M	1.47M	1.47M	1.47M
Retained Earnings	107.88M	116.3M	128.86M	141.9M	147.43M	153.23M	152.86M	167.53M	182.09M	197.75M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-19.57M	-20.48M	-21.75M	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash from Operations+	6.99M	6.11M	-12M	4.16M	26.77M	3.82M	-9.13M	10.2M	9.29M	3.07M
Operating CF Margin %	0.1%	0.08%	-0.12%	0.05%	0.35%	0.04%	-0.09%	0.1%	0.08%	0.03%
Operating CF Growth %	0.55%	-0.13%	-2.96%	1.35%	5.43%	-0.86%	-3.39%	2.12%	-0.09%	-0.67%
Net Income	7.04M	8.42M	12.56M	10.2M	5.53M	5.8M	-372K	14.67M	14.56M	15.66M
Depreciation & Amortization	1.4M	1.13M	1.38M	1.6M	1.64M	2.59M	2.82M	2.83M	2.6M	2.36M
Stock-Based Compensation	37K	71K	71K	71K	71K	0	0	0	0	0
Deferred Taxes	1.65M	1.28M	757K	732K	-2.63M	-451K	-3.29M	-274K	1.12M	-553K
Other Non-Cash Items	-1.41M	-1.83M	-15.96M	-1.08M	15.87M	-5.43M	5.87M	5.5M	-2.4M	-1.28M
Working Capital Changes	-1.72M	-2.97M	-10.81M	-7.35M	6.28M	1.3M	-14.17M	-12.53M	-6.59M	-13.12M
Change in Receivables	-341K	-189K	-19K	-785K	6.99M	3.82M	-568K	239K	-7.34M	-4.07M
Change in Inventory	1.14M	-5.05M	-1.53M	-3.48M	-1.72M	-4.41M	-13.93M	-15.71M	7.76M	10.26M
Change in Payables	-86K	-123K	518K	69K	-179K	1.38M	1.15M	-982K	-1.27M	-159K
Cash from Investing+	-306K	-1.62M	-3.55M	-2.1M	-1.59M	-16.44M	-4.52M	-2.75M	-840K	-1.96M
Capital Expenditures	-306K	-1.62M	-3.55M	-2.1M	-1.59M	-2.66M	-4.52M	-2.75M	-840K	-1.96M
CapEx % of Revenue	0%	0.02%	0.04%	0.03%	0.02%	0.03%	0.04%	0.03%	0.01%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	7K	0	0	0	0	1.58M	0	0	0
Cash from Financing+	380K	223K	626K	231K	103K	264K	-6	0	0	0
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-2	0	-1	0	0	0	-6	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	380K	223K	626K	231K	0	0	0	0	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	6.69M	4.48M	-15.55M	2.06M	25.18M	1.16M	-13.65M	7.45M	8.45M	1.1M
FCF Margin %	0.1%	0.06%	-0.16%	0.03%	0.33%	0.01%	-0.13%	0.07%	0.07%	0.01%
FCF Growth %	0.75%	-0.33%	-4.47%	1.13%	11.23%	-0.95%	-12.76%	1.55%	0.13%	-0.87%
FCF per Share	0.46	0.31	-1.06	0.14	1.71	0.08	-0.93	0.51	0.58	0.08
FCF Conversion (FCF/Net Income)	0.99x	0.73x	-0.95x	0.41x	4.84x	0.66x	24.56x	0.70x	0.64x	0.20x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	6.05%	6.76%	9.27%	6.85%	3.49%	3.53%	-0.22%	8.42%	7.71%	7.68%
Return on Invested Capital (ROIC)	5.76%	7.38%	8.57%	5.08%	3.06%	0.39%	2.07%	6.24%	6.11%	5.9%
Gross Margin	25.04%	26.25%	27%	27.56%	24.48%	21.32%	19.85%	27.63%	27.68%	27.47%
Net Margin	10.06%	10.44%	12.74%	12.54%	7.14%	6.81%	-0.36%	13.96%	12.86%	13.57%
Debt / Equity	-	-	-	-	0.01x	0.00x	0.00x	0.00x	0.00x	0.00x
FCF Conversion	0.99x	0.73x	-0.95x	0.41x	4.84x	0.66x	24.56x	0.70x	0.64x	0.20x
Revenue Growth	78.41%	15.17%	22.34%	-17.53%	-4.81%	10.15%	21.34%	1.54%	7.7%	2.01%

Revenue by Segment

	2015	2016	2017	2019	2020	2021	2022	2023	2024	2025
Parts and Component Sales	-	-	-	13.36M	13.9M	21.02M	23.86M	25.3M	26.46M	27.02M
Parts and Component Sales Growth	-	-	-	-	4.04%	51.24%	13.51%	6.04%	4.58%	2.12%
Freight Revenue	-	-	-	4.13M	3.98M	3.5M	4.71M	4.66M	5.17M	5.59M
Freight Revenue Growth	-	-	-	-	-3.56%	-12.20%	34.66%	-0.96%	10.89%	8.10%
Other Revenues	-	-	-	367K	320K	-	444K	825K	954K	1.14M
Other Revenues Growth	-	-	-	-	-12.81%	-	-	85.81%	15.64%	18.97%

Revenue by Geography

	2015	2016	2017	2019	2020	2021	2022	2023	2024	2025
Americas	-	-	-	-	-	-	-	-	-	103.1M
Americas Growth	-	-	-	-	-	-	-	-	-	-
CANADA	-	-	-	-	-	-	-	-	-	12.17M
CANADA Growth	-	-	-	-	-	-	-	-	-	-
Other Foreign Countries	-	-	-	-	-	-	-	-	-	170K
Other Foreign Countries Growth	-	-	-	-	-	-	-	-	-	-
UNITED STATES	39.23M	69.99M	80.61M	-	-	-	-	-	-	-
UNITED STATES Growth	-	78.41%	15.17%	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Gencor Industries, Inc. (GENC) has a price-to-earnings (P/E) ratio of 13.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Gencor Industries, Inc. (GENC) reported $115.4M in revenue for fiscal year 2025. This represents a 83% increase from $63.2M in 2012.

Gencor Industries, Inc. (GENC) grew revenue by 2.0% over the past year. Growth has been modest.

Yes, Gencor Industries, Inc. (GENC) is profitable, generating $15.7M in net income for fiscal year 2025 (13.6% net margin).

Dividend & Returns

Gencor Industries, Inc. (GENC) has a return on equity (ROE) of 7.7%. This is below average, suggesting room for improvement.

Gencor Industries, Inc. (GENC) generated $2.8M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.