Does GENERAC HOLDINGS INC. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores GENERAC HOLDINGS INC. (GNRC) 58.9 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 60, returns on capital 77, balance-sheet safety 34, capital discipline 55.

How has GNRC's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 58.9 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

GENERAC HOLDINGS INC.

GNRC · Industrials · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power60

Median gross margin 36.0% over 10y, very stable.

Returns on capital77

Median ROIC 16.3%, above the 9% hurdle in 80% of years.

Balance-sheet safety34

Net debt/EBITDA 1.9x, interest coverage 4x.

Capital discipline55

Owner earnings +4.8%/yr, share count n/a.

Margin of safety

Above valueOn sale

No price data

Owner earnings (normalized): $351.4M
Est. intrinsic value / share: —
Recent price: $214.91
Discount to value: No price data

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

18 years of fundamentals

The business, in plain English

GENERAC HOLDINGS INC. booked $4.2B of revenue in FY2025 in the Industrials sector and kept 38.3% of it as gross profit — a solid-margin business by that measure. After every other cost, 3.8% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $588.2M (FY2009) to $4.2B (FY2025) — about 13.1% a year compounded over 16 years.

It earned 6.6% on invested capital in FY2025, with a median of 13.4% across 16 filed years. The Returns on Capital filter above scores it 77/100.

The balance sheet carried $1.3B of total debt in FY2025 against $184.5M of owner earnings — roughly 6.8 years of owner earnings to retire it all. Balance-Sheet Safety scores it 34/100.

Put together: Returns on Capital is the strongest of the four filters (77/100) and Balance-Sheet Safety the weakest (34/100), which is how GNRC lands at 59/100 — a Shallow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

RevenueSales, as filed$4.2B FY2025

Gross marginRevenue kept after cost of goods38.3% FY2025

Return on invested capitalOperating profit on the capital employed6.6% FY2025

Owner earningsCash an owner could take out$184.5M FY2025

Gaps in a line mean that item isn’t in GNRC’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale58.9 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — GNRC has read Shallow moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Industrials context

#81 of 309 scored Industrials companies, ranked by Moat Score.

Nearest peers by Moat Score

#79NVT nVent Electric plc59.7 out of 100, Shallow moatShallow moat
#80MCK McKESSON CORPORATION59.5 out of 100, Shallow moatShallow moat
#82BDC BELDEN INC.58.8 out of 100, Shallow moatShallow moat
#83HLIO HELIOS TECHNOLOGIES, INC.58.7 out of 100, Shallow moatShallow moat

Compare GNRC with its nearest peers →All Industrials companies on the Index →

Common questions about GNRC

Does GENERAC HOLDINGS INC. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores GENERAC HOLDINGS INC. (GNRC) 58.9 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 60, returns on capital 77, balance-sheet safety 34, capital discipline 55.
How has GNRC's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 58.9 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell GNRC. See the disclaimer.