Holley Inc.
HLLY NYSE Motor Vehicle Parts & Accessories Financials FY2019–FY2025
Revenue
Total sales reported in the income statement.
$614M
1.9%
vs prior year
Operating margin
Operating income as a share of revenue.
13.4%
11.0 pts
Net income
Profit after all expenses, interest and tax.
$19.2M
Free cash flow
Cash from operations minus capital spending.
$33.9M
15.5%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
5.9%
4.6 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 $0.09 EPS (TTM)
What Holley Inc. does
No business description yet.
- Legal name
- Holley Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 16, 2026
- Accession · CIK
- 0001628280-26-018218
0001822928
Revenue and margins
Holley Inc. had $614M of revenue in fiscal 2025, up 1.9% on the year before.
FY19
Revenue $369M
FY20
Revenue $504M
FY21
Revenue $693M
FY22
Revenue $688M
FY23
Revenue $660M
FY24
Revenue $602M
FY25
Revenue $614M
Q3 '23
Revenue $157M
Q4 '23
Revenue $156M
Q1 '24
Revenue $159M
Q2 '24
Revenue $169M
Q3 '24
Revenue $134M
Q4 '24
Revenue $140M
Q1 '25
Revenue $153M
Q2 '25
Revenue $167M
Q3 '25
Revenue $138M
Q4 '25
Revenue $155M
Q1 '26
Revenue $147M
Q2 '26
Revenue $172M
FY19
Gross 40.4%
Operating 12.5%
Net 0.2%
FCF 0.5%
FY20
Gross 41.3%
Operating 16.9%
Net 6.5%
FCF 15.7%
FY21
Gross 41.4%
Operating 11.2%
Net −3.9%
FCF 0.9%
FY22
Gross 36.8%
Operating 7.4%
Net 10.7%
FCF −0.2%
FY23
Gross 38.8%
Operating 14.3%
Net 2.9%
FCF 12.5%
FY24
Gross 39.6%
Operating 2.4%
Net −3.9%
FCF 6.7%
FY25
Gross 43.4%
Operating 13.4%
Net 3.1%
FCF 5.5%
Gross
Operating
Net
FCF
Q3 '23
Gross 37.3%
Operating 12.3%
Net 0.5%
FCF 13.3%
Q4 '23
Gross 38.7%
Operating 12.1%
Net 0.8%
FCF 19.1%
Q1 '24
Gross 32.8%
Operating 6.4%
Net 2.4%
FCF 11.1%
Q2 '24
Gross 41.5%
Operating 16.4%
Net 10.1%
FCF 14.3%
Q3 '24
Gross 39.0%
Operating 4.2%
Net −4.7%
FCF −2.6%
Q4 '24
Gross 45.6%
Operating −20.7%
Net −27.0%
FCF 1.2%
Q1 '25
Gross 41.9%
Operating 12.6%
Net 1.8%
FCF −7.1%
Q2 '25
Gross 41.7%
Operating 16.5%
Net 6.5%
FCF 21.4%
Q3 '25
Gross 43.2%
Operating 11.5%
Net −0.6%
FCF 3.8%
Q4 '25
Gross 46.8%
Operating 12.7%
Net 4.1%
FCF 2.4%
Q1 '26
Gross 41.2%
Operating 11.9%
Net 4.9%
FCF −4.3%
Q2 '26
Gross 41.0%
Operating 1.6%
Net −1.4%
FCF 23.8%
Gross
Operating
Net
FCF
Net income and earnings per share
From fiscal 2019 to 2025, diluted EPS grew 58.7% a year. Loss periods are shown in red.
FY19
Net income $0.6M
FY20
Net income $32.9M
FY21
Net income −$27.1M
FY22
Net income $73.8M
FY23
Net income $19.2M
FY24
Net income −$23.2M
FY25
Net income $19.2M
Q3 '23
Net income $0.8M
Q4 '23
Net income $1.2M
Q1 '24
Net income $3.7M
Q2 '24
Net income $17.1M
Q3 '24
Net income −$6.3M
Q4 '24
Net income −$37.8M
Q1 '25
Net income $2.8M
Q2 '25
Net income $10.9M
Q3 '25
Net income −$0.8M
Q4 '25
Net income $6.3M
Q1 '26
Net income $7.3M
Q2 '26
Net income −$2.4M
FY19
Diluted EPS $0.01
FY20
Diluted EPS $0.49
FY21
Diluted EPS −$0.30
FY22
Diluted EPS $0.14
FY23
Diluted EPS $0.16
FY24
Diluted EPS −$0.20
FY25
Diluted EPS $0.16
Q3 '23
Diluted EPS $0.01
Q4 '23
Diluted EPS $0.00
Q1 '24
Diluted EPS $0.03
Q2 '24
Diluted EPS $0.14
Q3 '24
Diluted EPS −$0.05
Q4 '24
Diluted EPS −$0.32
Q1 '25
Diluted EPS $0.02
Q2 '25
Diluted EPS $0.09
Q3 '25
Diluted EPS −$0.01
Q4 '25
Diluted EPS $0.06
Q1 '26
Diluted EPS $0.06
Q2 '26
Diluted EPS −$0.02
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY19
Return on capital —
Return on equity 0.3%
Return on assets —
FY20
Return on capital 8.2%
Return on equity 14.7%
Return on assets 3.1%
FY21
Return on capital 6.7%
Return on equity −10.0%
Return on assets −2.4%
FY22
Return on capital 4.6%
Return on equity 20.5%
Return on assets 6.0%
FY23
Return on capital 6.6%
Return on equity 4.5%
Return on assets 1.6%
FY24
Return on capital 1.3%
Return on equity −5.4%
Return on assets −2.0%
FY25
Return on capital 5.9%
Return on equity 4.4%
Return on assets 1.7%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $33.9M in fiscal 2025, 5.5% of revenue. Cash from operations minus capital spending.
FY19
Free cash flow $2.0M
FY20
Free cash flow $79.0M
FY21
Free cash flow $6.4M
FY22
Free cash flow −$1.3M
FY23
Free cash flow $82.2M
FY24
Free cash flow $40.1M
FY25
Free cash flow $33.9M
Q3 '23
Free cash flow $20.8M
Q4 '23
Free cash flow $29.7M
Q1 '24
Free cash flow $17.6M
Q2 '24
Free cash flow $24.3M
Q3 '24
Free cash flow −$3.5M
Q4 '24
Free cash flow $1.7M
Q1 '25
Free cash flow −$10.8M
Q2 '25
Free cash flow $35.7M
Q3 '25
Free cash flow $5.3M
Q4 '25
Free cash flow $3.8M
Q1 '26
Free cash flow −$6.3M
Q2 '26
Free cash flow $40.9M
FY19
Cash from operations $9.4M
Capital spending $7.4M
FY20
Cash from operations $88.4M
Capital spending $9.4M
FY21
Cash from operations $21.6M
Capital spending $15.2M
FY22
Cash from operations $12.3M
Capital spending $13.6M
FY23
Cash from operations $88.1M
Capital spending $5.9M
FY24
Cash from operations $46.9M
Capital spending $6.8M
FY25
Cash from operations $46.2M
Capital spending $12.3M
Cash from operations
Capital spending
Q3 '23
Cash from operations $22.5M
Capital spending $1.7M
Q4 '23
Cash from operations $31.2M
Capital spending $1.5M
Q1 '24
Cash from operations $18.8M
Capital spending $1.3M
Q2 '24
Cash from operations $25.7M
Capital spending $1.4M
Q3 '24
Cash from operations −$1.7M
Capital spending $1.7M
Q4 '24
Cash from operations $4.1M
Capital spending $2.4M
Q1 '25
Cash from operations −$7.9M
Capital spending $3.0M
Q2 '25
Cash from operations $40.5M
Capital spending $4.8M
Q3 '25
Cash from operations $7.4M
Capital spending $2.1M
Q4 '25
Cash from operations $6.2M
Capital spending $2.4M
Q1 '26
Cash from operations −$2.9M
Capital spending $3.5M
Q2 '26
Cash from operations $47.1M
Capital spending $6.2M
Cash from operations
Capital spending
Dividends, buybacks and share count
Holley Inc. returned — to shareholders in fiscal 2025. The diluted share count rose 1.4%.
FY19
Dividends —
Buybacks —
FY20
Dividends —
Buybacks —
FY21
Dividends —
Buybacks —
FY22
Dividends —
Buybacks —
FY23
Dividends —
Buybacks —
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
Dividends
Buybacks
FY19
Diluted shares 0.07B
FY20
Diluted shares 0.07B
FY21
Diluted shares 0.09B
FY22
Diluted shares 0.12B
FY23
Diluted shares 0.12B
FY24
Diluted shares 0.12B
FY25
Diluted shares 0.12B
Balance sheet
Cash, debt and the ratios that show how comfortably Holley Inc. can carry it.
FY19
Cash $8.3M
Debt —
FY20
Cash $71.7M
Debt $655M
FY21
Cash $36.3M
Debt $646M
FY22
Cash $26.2M
Debt $651M
FY23
Cash $41.1M
Debt $584M
FY24
Cash $56.1M
Debt $553M
FY25
Cash $37.2M
Debt $523M
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $36.3M | $26.2M | $41.1M | $56.1M | $37.2M |
| Debt incl. finance leases | $646M | $651M | $584M | $553M | $523M |
| Net debt / EBITDA | 6.8x | 10.3x | 5.2x | 19.7x | 5.3x |
| Debt / equity | 2.1x | 1.6x | 1.3x | 1.3x | 1.2x |
| Interest coverage | 2.0x | 1.3x | 1.5x | 0.3x | 1.6x |
| Current ratio | 3.2x | 3.2x | 3.2x | 3.1x | 2.7x |
| Quick ratio | 1.2x | 0.9x | 1.1x | 1.1x | 1.0x |
| Total assets | $1.2B | $1.2B | $1.2B | $1.1B | $1.2B |
| Total liabilities | $889M | $834M | $762M | $712M | $715M |
| Shareholders' equity | $304M | $416M | $441M | $421M | $449M |
| Net debt (− = net cash) | $609M | $624M | $543M | $496M | $486M |
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
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✕ | ✓ | ✓ | ✕ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | — | ✕ | ✓ | ✕ | ✕ | ✓ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✕ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | — | ✓ | ✓ | ✓ | ✕ | ✓ |
| Current ratio rose | — | — | ✓ | ✓ | ✕ | ✕ | ✕ |
| Share count didn't rise | — | ✓ | ✕ | ✕ | ✕ | ✓ | ✕ |
| Gross margin rose | — | ✓ | ✓ | ✕ | ✓ | ✓ | ✓ |
| Revenue rose relative to assets | — | — | ✓ | ✕ | ✕ | ✕ | ✕ |
| F-score | — / 3 | — / 5 | 6 / 9 | 5 / 9 | 5 / 9 | 4 / 9 | 6 / 9 |
| Accruals ratio | — | −5.2% | −4.3% | 5.0% | −5.6% | −6.0% | −2.4% |
| Altman Z'' | — | 1.94 | 1.83 | 2.10 | 2.43 | 2.01 | 2.45 |
7 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $369M | $504M | $693M | $688M | $660M | $602M | $614M |
| Gross profit | $149M | $208M | $287M | $254M | $256M | $239M | $266M |
| Research and development | $20.6M | $23.5M | $28.3M | $29.1M | $23.8M | $18.7M | $18.8M |
| Operating income | $46.1M | $85.5M | $77.5M | $50.7M | $94.0M | $14.7M | $82.5M |
| Interest expense | $50.4M | $43.8M | $39.1M | $40.2M | $60.7M | $50.7M | $51.8M |
| Pretax income | −$4.3M | $41.7M | −$16.7M | $78.3M | $27.6M | −$26.3M | $28.6M |
| Income tax | −$4.9M | $8.8M | $10.4M | $4.5M | $8.4M | −$3.0M | $9.5M |
| Net income | $0.6M | $32.9M | −$27.1M | $73.8M | $19.2M | −$23.2M | $19.2M |
| Net income to common | — | $32.9M | −$27.1M | $73.8M | $19.2M | −$23.2M | — |
| Diluted EPS | $0.01 | $0.49 | −$0.30 | $0.14 | $0.16 | −$0.20 | $0.16 |
| Diluted shares | 0.07B | 0.07B | 0.09B | 0.12B | 0.12B | 0.12B | 0.12B |
| Cash flow | |||||||
| Cash from operations | $9.4M | $88.4M | $21.6M | $12.3M | $88.1M | $46.9M | $46.2M |
| Capital expenditure | $7.4M | $9.4M | $15.2M | $13.6M | $5.9M | $6.8M | $12.3M |
| Free cash flow | $2.0M | $79.0M | $6.4M | −$1.3M | $82.2M | $40.1M | $33.9M |
| Depreciation and amortization | $8.8M | $7.9M | $11.5M | $10.1M | $10.3M | $10.6M | $9.7M |
| Stock-based compensation | $0.4M | $0.5M | $5.0M | — | — | — | — |
| Acquisitions | $5.9M | $157M | $119M | $14.3M | $0.0M | $0.0M | — |
| Balance sheet | |||||||
| Cash and short-term investments | $8.3M | $71.7M | $36.3M | $26.2M | $41.1M | $56.1M | $37.2M |
| Total debt | — | $655M | $646M | $651M | $584M | $553M | $523M |
| Finance lease liabilities | — | — | — | — | — | $0.0M | $0.2M |
| Current assets | — | $258M | $292M | $325M | $297M | $297M | $316M |
| Current liabilities | — | $82.0M | $91.8M | $101M | $93.7M | $95.2M | $115M |
| Inventory | — | $134M | $185M | $234M | $192M | $193M | $206M |
| Property and equipment, net | — | $43.7M | $51.5M | $52.2M | $47.2M | $41.0M | $45.1M |
| Goodwill | $298M | $359M | $411M | $418M | $419M | $372M | $372M |
| Intangible assets | — | $405M | $438M | $425M | $410M | $387M | $397M |
| Total assets | — | $1.1B | $1.2B | $1.2B | $1.2B | $1.1B | $1.2B |
| Total liabilities | — | $825M | $889M | $834M | $762M | $712M | $715M |
| Preferred stock | — | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $205M | $240M | $304M | $416M | $441M | $421M | $449M |
| Margins | |||||||
| Gross margin | 40.4% | 41.3% | 41.4% | 36.8% | 38.8% | 39.6% | 43.4% |
| Operating margin | 12.5% | 16.9% | 11.2% | 7.4% | 14.3% | 2.4% | 13.4% |
| EBITDA margin | 14.9% | 18.5% | 12.9% | 8.8% | 15.8% | 4.2% | 15.0% |
| Net margin | 0.2% | 6.5% | −3.9% | 10.7% | 2.9% | −3.9% | 3.1% |
| FCF margin | 0.5% | 15.7% | 0.9% | −0.2% | 12.5% | 6.7% | 5.5% |
| Returns | |||||||
| Return on capital | — | 8.2% | 6.7% | 4.6% | 6.6% | 1.3% | 5.9% |
| Return on capital employed | — | 8.7% | 7.0% | 4.4% | 8.5% | 1.4% | 7.9% |
| Return on equity | 0.3% | 14.7% | −10.0% | 20.5% | 4.5% | −5.4% | 4.4% |
| Return on assets | — | 3.1% | −2.4% | 6.0% | 1.6% | −2.0% | 1.7% |
| Growth | |||||||
| Revenue growth | — | 36.8% | 37.4% | −0.6% | −4.2% | −8.7% | 1.9% |
| Net income growth | — | 5,756.9% | −182.6% | — | −74.0% | −221.1% | — |
| EPS growth | — | 4,800.0% | −161.2% | — | 14.3% | −225.0% | — |
| FCF growth | — | 3,854.9% | −92.0% | −120.1% | — | −51.2% | −15.5% |
| Share count change | — | 0.0% | 32.9% | 30.3% | 1.1% | −0.1% | 1.4% |
| Financial health | |||||||
| Net debt / EBITDA | — | 6.2x | 6.8x | 10.3x | 5.2x | 19.7x | 5.3x |
| Debt / equity | — | 2.7x | 2.1x | 1.6x | 1.3x | 1.3x | 1.2x |
| Interest coverage | 0.9x | 2.0x | 2.0x | 1.3x | 1.5x | 0.3x | 1.6x |
| Current ratio | — | 3.1x | 3.2x | 3.2x | 3.2x | 3.1x | 2.7x |
| Quick ratio | — | 1.5x | 1.2x | 0.9x | 1.1x | 1.1x | 1.0x |
| Capital allocation | |||||||
| Capex / revenue | 2.0% | 1.9% | 2.2% | 2.0% | 0.9% | 1.1% | 2.0% |
| Stock comp / revenue | 0.1% | 0.1% | 0.7% | — | — | — | — |
| Quality scores | |||||||
| Piotroski F-score | — | — | 6.0 | 5.0 | 5.0 | 4.0 | 6.0 |
| Altman Z'' | — | 1.9 | 1.8 | 2.1 | 2.4 | 2.0 | 2.4 |
| Accruals ratio | — | −5.2% | −4.3% | 5.0% | −5.6% | −6.0% | −2.4% |
Source: SEC EDGAR XBRL filings (CIK 0001822928). 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.