Gencor Industries Inc
GENC NYSE Construction Machinery & Equip Financials FY2016–FY2025
Revenue
Total sales reported in the income statement.
$115M
2.0%
vs prior year
Operating margin
Operating income as a share of revenue.
12.1%
0.0 pts
Net income
Profit after all expenses, interest and tax.
$15.7M
7.6%
Free cash flow
Cash from operations minus capital spending.
$1.1M
86.9%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
14.4%
2.5 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On $1.01 EPS (TTM)
What Gencor Industries Inc does
No business description yet.
- Legal name
- GENCOR INDUSTRIES INC
- Fiscal year ends
- September 30, 2025
- Latest annual report
- 10-K · Dec 9, 2025
- Accession · CIK
- 0001193125-25-312742
0000064472
Revenue and margins
Gencor Industries Inc had $115M of revenue in fiscal 2025, up 2.0% on the year before.
FY16
Revenue $70.0M
FY17
Revenue $80.6M
FY18
Revenue $98.6M
FY19
Revenue $81.3M
FY20
Revenue $77.4M
FY21
Revenue $85.3M
FY22
Revenue $103M
FY23
Revenue $105M
FY24
Revenue $113M
FY25
Revenue $115M
Q4 '23
Revenue $20.9M
Q1 '24
Revenue $26.0M
Q2 '24
Revenue $40.7M
Q3 '24
Revenue $25.6M
Q4 '24
Revenue $20.9M
Q1 '25
Revenue $31.4M
Q2 '25
Revenue $38.2M
Q3 '25
Revenue $27.0M
Q4 '25
Revenue $18.8M
Q1 '26
Revenue $23.6M
Q2 '26
Revenue $33.8M
Q3 '26
Revenue $33.8M
FY16
Gross 25.0%
Operating 11.2%
Net 10.1%
FCF 9.6%
FY17
Gross 26.2%
Operating 12.7%
Net 10.4%
FCF 5.6%
FY18
Gross 27.2%
Operating 14.1%
Net 12.9%
FCF −15.8%
FY19
Gross 27.6%
Operating 11.6%
Net 12.5%
FCF 2.5%
FY20
Gross 24.5%
Operating 7.2%
Net 7.1%
FCF 32.5%
FY21
Gross 21.3%
Operating 0.8%
Net 6.8%
FCF 1.4%
FY22
Gross 19.9%
Operating 4.0%
Net −0.4%
FCF −13.2%
FY23
Gross 27.6%
Operating 12.8%
Net 14.0%
FCF 7.1%
FY24
Gross 27.7%
Operating 12.1%
Net 12.9%
FCF 7.5%
FY25
Gross 27.5%
Operating 12.1%
Net 13.6%
FCF 1.0%
Gross
Operating
Net
FCF
Q4 '23
Gross 31.7%
Operating 12.9%
Net 14.9%
FCF 51.9%
Q1 '24
Gross 29.0%
Operating 13.0%
Net 16.6%
FCF 5.9%
Q2 '24
Gross 30.3%
Operating 17.4%
Net 15.3%
FCF 28.7%
Q3 '24
Gross 23.9%
Operating 7.8%
Net 10.0%
FCF −5.6%
Q4 '24
Gross 25.6%
Operating 5.9%
Net 6.9%
FCF −15.8%
Q1 '25
Gross 27.6%
Operating 14.7%
Net 12.1%
FCF 46.1%
Q2 '25
Gross 29.7%
Operating 17.0%
Net 16.0%
FCF 32.2%
Q3 '25
Gross 26.5%
Operating 11.6%
Net 14.2%
FCF −90.4%
Q4 '25
Gross 24.2%
Operating −1.2%
Net 10.2%
FCF −6.8%
Q1 '26
Gross 28.7%
Operating 13.2%
Net 14.6%
FCF 43.0%
Q2 '26
Gross 31.7%
Operating 12.5%
Net 11.4%
FCF 19.9%
Q3 '26
Gross 27.9%
Operating 17.2%
Net 16.8%
FCF −50.9%
Gross
Operating
Net
FCF
Net income and earnings per share
From fiscal 2016 to 2025, diluted EPS grew 9.3% a year. Loss periods are shown in red.
FY16
Net income $7.0M
FY17
Net income $8.4M
FY18
Net income $12.7M
FY19
Net income $10.2M
FY20
Net income $5.5M
FY21
Net income $5.8M
FY22
Net income −$0.4M
FY23
Net income $14.7M
FY24
Net income $14.6M
FY25
Net income $15.7M
Q4 '23
Net income $3.1M
Q1 '24
Net income $4.3M
Q2 '24
Net income $6.2M
Q3 '24
Net income $2.6M
Q4 '24
Net income $1.5M
Q1 '25
Net income $3.8M
Q2 '25
Net income $6.1M
Q3 '25
Net income $3.8M
Q4 '25
Net income $1.9M
Q1 '26
Net income $3.4M
Q2 '26
Net income $3.8M
Q3 '26
Net income $5.7M
FY16
Diluted EPS $0.48
FY17
Diluted EPS $0.57
FY18
Diluted EPS $0.86
FY19
Diluted EPS $0.69
FY20
Diluted EPS $0.38
FY21
Diluted EPS $0.39
FY22
Diluted EPS −$0.03
FY23
Diluted EPS $1.00
FY24
Diluted EPS $0.99
FY25
Diluted EPS $1.07
Q4 '23
Diluted EPS $0.21
Q1 '24
Diluted EPS $0.30
Q2 '24
Diluted EPS $0.42
Q3 '24
Diluted EPS $0.17
Q4 '24
Diluted EPS $0.10
Q1 '25
Diluted EPS $0.26
Q2 '25
Diluted EPS $0.42
Q3 '25
Diluted EPS $0.26
Q4 '25
Diluted EPS $0.13
Q1 '26
Diluted EPS $0.23
Q2 '26
Diluted EPS $0.26
Q3 '26
Diluted EPS $0.39
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY16
Return on capital 36.5%
Return on equity 5.9%
Return on assets 5.5%
FY17
Return on capital 39.1%
Return on equity 6.8%
Return on assets 6.2%
FY18
Return on capital 35.5%
Return on equity 9.3%
Return on assets 8.5%
FY19
Return on capital 18.9%
Return on equity 6.8%
Return on assets 6.3%
FY20
Return on capital 12.7%
Return on equity 3.5%
Return on assets 3.3%
FY21
Return on capital 1.2%
Return on equity 3.5%
Return on assets 3.3%
FY22
Return on capital 4.8%
Return on equity −0.2%
Return on assets −0.2%
FY23
Return on capital 13.1%
Return on equity 8.4%
Return on assets 7.8%
FY24
Return on capital 11.9%
Return on equity 7.7%
Return on assets 7.2%
FY25
Return on capital 14.4%
Return on equity 7.7%
Return on assets 7.3%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $1.1M in fiscal 2025, 1.0% of revenue. Cash from operations minus capital spending.
FY16
Free cash flow $6.7M
FY17
Free cash flow $4.5M
FY18
Free cash flow −$15.5M
FY19
Free cash flow $2.1M
FY20
Free cash flow $25.2M
FY21
Free cash flow $1.2M
FY22
Free cash flow −$13.7M
FY23
Free cash flow $7.5M
FY24
Free cash flow $8.5M
FY25
Free cash flow $1.1M
Q4 '23
Free cash flow $10.8M
Q1 '24
Free cash flow $1.5M
Q2 '24
Free cash flow $11.7M
Q3 '24
Free cash flow −$1.4M
Q4 '24
Free cash flow −$3.3M
Q1 '25
Free cash flow $14.5M
Q2 '25
Free cash flow $12.3M
Q3 '25
Free cash flow −$24.4M
Q4 '25
Free cash flow −$1.3M
Q1 '26
Free cash flow $10.1M
Q2 '26
Free cash flow $6.7M
Q3 '26
Free cash flow −$17.2M
FY16
Cash from operations $7.0M
Capital spending $0.3M
FY17
Cash from operations $6.1M
Capital spending $1.6M
FY18
Cash from operations −$12.0M
Capital spending $3.6M
FY19
Cash from operations $4.2M
Capital spending $2.1M
FY20
Cash from operations $26.8M
Capital spending $1.6M
FY21
Cash from operations $3.8M
Capital spending $2.7M
FY22
Cash from operations −$9.1M
Capital spending $4.5M
FY23
Cash from operations $10.2M
Capital spending $2.7M
FY24
Cash from operations $9.3M
Capital spending $0.8M
FY25
Cash from operations $3.1M
Capital spending $2.0M
Cash from operations
Capital spending
Q4 '23
Cash from operations $11.8M
Capital spending $1.0M
Q1 '24
Cash from operations $1.9M
Capital spending $0.4M
Q2 '24
Cash from operations $11.7M
Capital spending $0.0M
Q3 '24
Cash from operations −$1.0M
Capital spending $0.4M
Q4 '24
Cash from operations −$3.2M
Capital spending $0.1M
Q1 '25
Cash from operations $14.8M
Capital spending $0.3M
Q2 '25
Cash from operations $12.4M
Capital spending $0.1M
Q3 '25
Cash from operations −$23.9M
Capital spending $0.5M
Q4 '25
Cash from operations −$0.3M
Capital spending $1.0M
Q1 '26
Cash from operations $11.1M
Capital spending $1.0M
Q2 '26
Cash from operations $6.9M
Capital spending $0.2M
Q3 '26
Cash from operations −$16.7M
Capital spending $0.5M
Cash from operations
Capital spending
Dividends, buybacks and share count
Gencor Industries Inc returned — to shareholders in fiscal 2025. The diluted share count rose 0.0%.
FY16
Dividends —
Buybacks —
FY17
Dividends —
Buybacks —
FY18
Dividends —
Buybacks —
FY19
Dividends —
Buybacks —
FY20
Dividends —
Buybacks —
FY21
Dividends —
Buybacks —
FY22
Dividends —
Buybacks —
FY23
Dividends —
Buybacks —
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
Dividends
Buybacks
FY16
Diluted shares 0.01B
FY17
Diluted shares 0.01B
FY18
Diluted shares 0.01B
FY19
Diluted shares 0.01B
FY20
Diluted shares 0.01B
FY21
Diluted shares 0.01B
FY22
Diluted shares 0.01B
FY23
Diluted shares 0.01B
FY24
Diluted shares —
FY25
Diluted shares —
Balance sheet
Cash, debt and the ratios that show how comfortably Gencor Industries Inc can carry it.
FY16
Cash $104M
Debt $0.0M
FY17
Cash $111M
Debt $0.0M
FY18
Cash $112M
Debt $0.0M
FY19
Cash $116M
Debt $0.0M
FY20
Cash $125M
Debt $0.0M
FY21
Cash $118M
Debt $0.0M
FY22
Cash $98.9M
Debt $0.0M
FY23
Cash $101M
Debt $0.0M
FY24
Cash $115M
Debt $0.0M
FY25
Cash $136M
Debt $0.0M
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $118M | $98.9M | $101M | $115M | $136M |
| Debt incl. finance leases | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Net debt / EBITDA | −35.9x | −14.1x | −6.2x | −7.1x | −8.3x |
| Debt / equity | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x |
| Current ratio | 14.7x | 13.1x | 12.6x | 18.2x | 23.4x |
| Quick ratio | 11.0x | 8.6x | 7.6x | 12.2x | 17.4x |
| Total assets | $179M | $179M | $196M | $208M | $223M |
| Total liabilities | $12.2M | $12.4M | $14.3M | $12.0M | $10.8M |
| Shareholders' equity | $167M | $167M | $182M | $196M | $212M |
| Net debt (− = net cash) | −$118M | −$98.9M | −$101M | −$115M | −$136M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✕ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✕ | ✓ | ✓ | ✓ | ✕ | ✓ | ✓ | ✓ |
| Return on assets rose | — | ✓ | ✓ | ✕ | ✕ | ✓ | ✕ | ✓ | ✕ | ✓ |
| Cash from operations exceeds net income | ✕ | ✕ | ✕ | ✕ | ✓ | ✕ | ✕ | ✕ | ✕ | ✕ |
| Debt fell relative to assets | — | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ |
| Current ratio rose | — | ✕ | ✓ | ✓ | ✕ | ✕ | ✕ | ✕ | ✓ | ✓ |
| Share count didn't rise | — | ✕ | ✕ | ✓ | ✕ | ✕ | ✓ | ✓ | — | — |
| Gross margin rose | — | ✓ | ✓ | ✓ | ✕ | ✕ | ✕ | ✓ | ✓ | ✕ |
| Revenue rose relative to assets | — | ✓ | ✓ | ✕ | ✕ | ✓ | ✓ | ✕ | ✓ | ✕ |
| F-score | — / 3 | 5 / 9 | 5 / 9 | 5 / 9 | 3 / 9 | 4 / 9 | 2 / 9 | 5 / 9 | 5 / 8 | 4 / 8 |
| Accruals ratio | 0.0% | 1.7% | 16.5% | 3.8% | −12.6% | 1.1% | 4.9% | 2.4% | 2.6% | 5.8% |
| Altman Z'' | 23.85 | 18.55 | 22.90 | 25.72 | 26.05 | 22.92 | 22.56 | 22.06 | 26.23 | 29.75 |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $70.0M | $80.6M | $98.6M | $81.3M | $77.4M | $85.3M | $103M | $105M | $113M | $115M |
| Gross profit | $17.5M | $21.2M | $26.8M | $22.4M | $19.0M | $18.2M | $20.5M | $29.0M | $31.3M | $31.7M |
| Research and development | $1.6M | $2.1M | $2.9M | $3.3M | $3.1M | $4.3M | $4.3M | $3.5M | $3.3M | $2.8M |
| Operating income | $7.8M | $10.2M | $13.9M | $9.5M | $5.5M | $0.7M | $4.2M | $13.4M | $13.7M | $14.0M |
| Pretax income | $9.4M | $12.2M | $15.1M | $12.8M | $6.7M | $6.6M | −$1.7M | $18.8M | $20.7M | $20.2M |
| Income tax | $2.4M | $3.8M | $2.4M | $2.6M | $1.2M | $0.8M | −$1.3M | $4.1M | $6.2M | $4.5M |
| Net income | $7.0M | $8.4M | $12.7M | $10.2M | $5.5M | $5.8M | −$0.4M | $14.7M | $14.6M | $15.7M |
| Diluted EPS | $0.48 | $0.57 | $0.86 | $0.69 | $0.38 | $0.39 | −$0.03 | $1.00 | $0.99 | $1.07 |
| Diluted shares | 0.01B | 0.01B | 0.01B | 0.01B | 0.01B | 0.01B | 0.01B | 0.01B | — | — |
| Cash flow | ||||||||||
| Cash from operations | $7.0M | $6.1M | −$12.0M | $4.2M | $26.8M | $3.8M | −$9.1M | $10.2M | $9.3M | $3.1M |
| Capital expenditure | $0.3M | $1.6M | $3.6M | $2.1M | $1.6M | $2.7M | $4.5M | $2.7M | $0.8M | $2.0M |
| Free cash flow | $6.7M | $4.5M | −$15.5M | $2.1M | $25.2M | $1.2M | −$13.7M | $7.5M | $8.5M | $1.1M |
| Depreciation and amortization | $1.4M | $1.1M | $1.4M | $1.6M | $1.6M | $2.6M | $2.8M | $2.8M | $2.6M | $2.4M |
| Stock-based compensation | $0.0M | $0.1M | $0.1M | $0.1M | $0.1M | — | — | — | — | — |
| Acquisitions | — | — | — | — | — | $13.8M | — | — | — | — |
| Balance sheet | ||||||||||
| Cash and short-term investments | $104M | $111M | $112M | $116M | $125M | $118M | $98.9M | $101M | $115M | $136M |
| Total debt | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Current assets | $123M | $137M | $148M | $157M | $162M | $167M | $162M | $179M | $193M | $207M |
| Current liabilities | $8.2M | $12.4M | $8.5M | $6.5M | $8.5M | $11.4M | $12.4M | $14.2M | $10.6M | $8.8M |
| Inventory | $11.6M | $16.7M | $21.9M | $25.4M | $27.1M | $41.9M | $55.8M | $71.5M | $63.8M | $53.5M |
| Property and equipment, net | $5.2M | $5.7M | $7.9M | $8.4M | $8.3M | $11.8M | $13.5M | $13.2M | $11.5M | $11.1M |
| Total assets | $129M | $143M | $156M | $165M | $171M | $179M | $179M | $196M | $208M | $223M |
| Total liabilities | $8.5M | $14.0M | $11.1M | $9.9M | $9.9M | $12.2M | $12.4M | $14.3M | $12.0M | $10.8M |
| Preferred stock | — | — | — | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $120M | $129M | $145M | $156M | $161M | $167M | $167M | $182M | $196M | $212M |
| Margins | ||||||||||
| Gross margin | 25.0% | 26.2% | 27.2% | 27.6% | 24.5% | 21.3% | 19.9% | 27.6% | 27.7% | 27.5% |
| Operating margin | 11.2% | 12.7% | 14.1% | 11.6% | 7.2% | 0.8% | 4.0% | 12.8% | 12.1% | 12.1% |
| EBITDA margin | 13.2% | 14.1% | 15.5% | 13.6% | 9.3% | 3.9% | 6.8% | 15.5% | 14.4% | 14.2% |
| Net margin | 10.1% | 10.4% | 12.9% | 12.5% | 7.1% | 6.8% | −0.4% | 14.0% | 12.9% | 13.6% |
| FCF margin | 9.6% | 5.6% | −15.8% | 2.5% | 32.5% | 1.4% | −13.2% | 7.1% | 7.5% | 1.0% |
| Returns | ||||||||||
| Return on capital | 36.5% | 39.1% | 35.5% | 18.9% | 12.7% | 1.2% | 4.8% | 13.1% | 11.9% | 14.4% |
| Return on capital employed | 6.5% | 7.8% | 9.4% | 6.0% | 3.4% | 0.4% | 2.5% | 7.4% | 6.9% | 6.6% |
| Return on equity | 5.9% | 6.8% | 9.3% | 6.8% | 3.5% | 3.5% | −0.2% | 8.4% | 7.7% | 7.7% |
| Return on assets | 5.5% | 6.2% | 8.5% | 6.3% | 3.3% | 3.3% | −0.2% | 7.8% | 7.2% | 7.3% |
| Return on tangible equity | 5.9% | 6.5% | 8.8% | 6.6% | 3.4% | 3.5% | −0.2% | 8.1% | 7.4% | 7.4% |
| Growth | ||||||||||
| Revenue growth | — | 15.2% | 22.3% | −17.5% | −4.8% | 10.1% | 21.3% | 1.5% | 7.7% | 2.0% |
| Net income growth | — | 19.5% | 50.8% | −19.7% | −45.8% | 5.0% | −106.4% | — | −0.7% | 7.6% |
| EPS growth | — | 18.8% | 50.9% | −19.8% | −44.9% | 2.6% | −107.7% | — | −1.0% | 8.1% |
| FCF growth | — | −32.9% | −446.7% | — | 1,122.9% | −95.4% | −1,275.8% | — | 13.4% | −86.9% |
| Share count change | — | 1.1% | 0.3% | −0.1% | 0.1% | 0.1% | −0.5% | 0.0% | — | — |
| Financial health | ||||||||||
| Net debt / EBITDA | −11.3x | −9.8x | −7.3x | −10.4x | −17.4x | −35.9x | −14.1x | −6.2x | −7.1x | −8.3x |
| Debt / equity | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x |
| Current ratio | 15.1x | 11.1x | 17.5x | 24.2x | 19.0x | 14.7x | 13.1x | 12.6x | 18.2x | 23.4x |
| Quick ratio | 13.6x | 9.7x | 14.9x | 20.3x | 15.8x | 11.0x | 8.6x | 7.6x | 12.2x | 17.4x |
| Capital allocation | ||||||||||
| Capex / revenue | 0.4% | 2.0% | 3.6% | 2.6% | 2.1% | 3.1% | 4.4% | 2.6% | 0.7% | 1.7% |
| Stock comp / revenue | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | — | — | — | — | — |
| Quality scores | ||||||||||
| Piotroski F-score | — | 5.0 | 5.0 | 5.0 | 3.0 | 4.0 | 2.0 | 5.0 | 5.0 | 4.0 |
| Altman Z'' | 23.8 | 18.5 | 22.9 | 25.7 | 26.0 | 22.9 | 22.6 | 22.1 | 26.2 | 29.7 |
| Accruals ratio | 0.0% | 1.7% | 16.5% | 3.8% | −12.6% | 1.1% | 4.9% | 2.4% | 2.6% | 5.8% |
Source: SEC EDGAR XBRL filings (CIK 0000064472). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.