Gencor Industries Inc (GENC) stock analysis
Close on Nov 11, 2026Market cap $254.90MP/E –Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Solid15 of 30 checks passed
Gencor Industries passes 15 of the 30 checks behind our score; 9 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 3/6
- Growth
- 1/6
- Past performance
- 5/6
- Financial health
- 6/6
- Dividend
- 0/6
What stands out
Trading below fair value
The share price of $17.39 is below our fair value estimate of $21.45.
Return on capital over 10%
Return on invested capital was 15.3%, above the 10% that usually covers the cost of capital.
No debt
Gencor Industries has no borrowings on its latest balance sheet.
Earnings grew over 5 years
Net income grew 23.1% a year on average over the last five fiscal years.
What to watch
Margin of safety under 20%
The price is 18.9% below fair value, less than the 20% cushion we look for.
Return on equity under 15%
Return on equity was 6.9% over the last twelve months and averaged 5.4% over five years; we look for 15% on both.
Revenue growing under 10% a year
Revenue grew 3.7% a year over the last three fiscal years, short of the 10% we look for.
Earnings growth not accelerating
Net income grew -2.0% over the last twelve months, against a 5-year average of 23.1% a year.
Valuation3/6
P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
EV/EBITDA below its 5-year median
Gencor Industries's EV/EBITDA of 6.0 is below its 5-year median of 8.5.
P/B below the industry
Gencor Industries's price-to-book of 1.13 is below the Construction, Mining, and Materials Handling median of 1.38.
Trading below fair value
The share price of $17.39 is below our fair value estimate of $21.45.
Margin of safety under 20%
The price is 18.9% below fair value, less than the 20% cushion we look for.
Growth1/6
Revenue growing under 10% a year
Revenue grew 3.7% a year over the last three fiscal years, short of the 10% we look for.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings growth not accelerating
Net income grew -2.0% over the last twelve months, against a 5-year average of 23.1% a year.
Growing slower than the industry
Revenue grew -6.4% over the last twelve months; the Construction, Mining, and Materials Handling median is 10.4%.
Company guidance
No outlook found in earnings releases from the last twelve months.
Gross margin improving
Gross margin was 28.6% over the last twelve months, against 27.7% a year earlier.
Past performance5/6
Return on equity under 15%
Return on equity was 6.9% over the last twelve months and averaged 5.4% over five years; we look for 15% on both.
Return on capital over 10%
Return on invested capital was 15.3%, above the 10% that usually covers the cost of capital.
Return on equity above the industry
Gencor Industries's return on equity of 6.9% is above the Construction, Mining, and Materials Handling median of 4.5%.
Earnings grew over 5 years
Net income grew 23.1% a year on average over the last five fiscal years.
Net margin above its 5-year average
Net margin was 13.5% over the last twelve months, against a 5-year average of 9.4%.
Net margin above the industry
Gencor Industries's net margin of 13.5% is above the Construction, Mining, and Materials Handling median of 2.6%.
Financial health6/6
No debt
Gencor Industries has no borrowings on its latest balance sheet.
Debt not rising
With no debt today, leverage cannot have risen.
Debt covered by cash flow
There is no debt to cover.
Interest well covered
No meaningful interest expense to cover.
Short-term assets cover short-term debts
Current assets are 19.16 times current liabilities.
Low bankruptcy risk
The Altman Z-score is 13.69; above 3 is the safe zone and below 1.8 the distress zone.
Dividend0/6
No dividend
Gencor Industries has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itOur estimate per share
$21.45
The share price is 19% below this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| EV/EBITDA | 10.3× | 8.5× | 11.1× | $21.80 | 78% |
| P/B | 1.3× | 1.2× | 1.4× | $20.22 | 22% |
| Earnings powerleft out, too far from the others | 7.7% cost of equity | – | – | $5.00 | – |
| Fair value | $21.45 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Own 5-year median 25.8
- Construction, Mining, and Materials Handling median 29.1
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
High risk
- Average value traded per day
- $794.73K
- Value traded per 1% price move
- $713.09K
Downside
Low risk
- Typical loss in a bad month
- 10.3%
- Volatility (annualized)
- 38%
- Sharpe ratio, 1 year
- 0.55
- Beta to the S&P 500 (5Y)
- 0.57
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +2.0% | +3.7% | +8.3% | +11.4% | |
| Gross profit | +1.2% | +15.6% | +10.8% | +15.5% | |
| Operating income | +2.4% | +49.8% | +20.4% | – | |
| Net income | +7.6% | – | +23.1% | – | |
| EPS, diluted | +8.1% | – | +23.0% | – | |
| Free cash flow | -86.9% | – | -46.5% | -11.7% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 6.0% | 3.5% | 7.7% | |
| Return on assets | 5.7% | 3.3% | 7.3% | |
| Current ratio | 15.07 | 19.00 | 23.44 | |
| Inventory turnover | 4.3× | 2.2× | 1.4× | |
| Capex to revenue | 0.4% | 2.1% | 1.7% | |
| Diluted shares | 15M | 15M | – |
Where the cash went
Fiscal 2021 to 2025, five years combined
Gencor Industries generated $35.51M from operations and spent $12.72M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 13.6% | 0.54× | 1.06× | 7.7% |
| FY2024 | 12.9% | 0.56× | 1.07× | 7.7% |
| FY2023 | 14.0% | 0.56× | 1.08× | 8.4% |
| FY2022 | -0.4% | 0.58× | 1.07× | -0.2% |
| FY2021 | 6.8% | 0.49× | 1.07× | 3.5% |
| FY2020 | 7.1% | 0.46× | 1.06× | 3.5% |
| FY2019 | 12.5% | 0.51× | 1.07× | 6.8% |
| FY2018 | 12.9% | 0.66× | 1.09× | 9.3% |
| FY2017 | 10.4% | 0.59× | 1.09× | 6.8% |
| FY2016 | 10.1% | 0.56× | 1.07× | 6.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$15.66M
- Cash generatingOperating cash flow above zero$3.07M
- Return on assets improvedROA up on the prior year7.4% → 7.5%
- Earnings backed by cashOperating cash flow above net income$3.07M vs $15.66M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose18.19 → 23.44
- No dilutionShare count did not rise– → –
- Gross margin improvedGross margin up on the prior year27.68% → 27.47%
- More efficientAsset turnover rose0.58 → 0.55
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