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Graham Corporation designs and manufactures fluid, power, heat transfer, and vacuum technologies for chemical and petrochemical processing, defense, space, petroleum refining, cryogenic, and energy industries. The company offers power plant systems, such as ejectors and surface condensers; torpedo ejection, propulsion, and power systems, including turbines, alternators, regulators, pumps, and blowers; and thermal management systems comprising pumps, blowers, and drive electronics for the defense sector. It also provides heat transfer and vacuum systems, including ejectors, process and surface condensers, liquid ring pumps, heat exchangers, and nozzles; power generation systems, such as turbines, generators, compressors, and pumps; and thermal management systems comprising pumps, blowers, and electronics for the energy sector. In addition, the company offers rocket propulsion systems consisting of turbopumps, fuel, cryogenic, and nuclear propellant pumps; cooling systems, which include pumps, compressors, fans, and blowers; and life support systems that comprise fans, pumps, and blowers for the space industry. Further, Graham Corporation sells and services spare parts for its equipment. It operates in the United States, Asia, Canada, the Middle East, South America, and internationally. Graham Corporation was founded in 1936 and is headquartered in Batavia, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $210M | $21M | $12M | $5M | 10.2% | 13.1% | 168.4% |
| 2024 | $186M | $12M | $5M | $19M | 4.3% | 18.1% | 1141.4% |
| 2023 | $157M | $7M | $0M | $10M | 0.4% | 27.9% | - |
| 2022 | $123M | $-5M | $-9M | $-5M | -9.1% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 122.81 | 157.12 | 185.53 | 209.90 |
| Cost Of Revenue | 113.69 | 131.71 | 144.95 | 157.03 |
| Gross Profit | 9.13 | 25.41 | 40.59 | 52.86 |
| Operating Expense | 20.47 | 24.16 | 33.66 | 37.67 |
| Operating Income | -11.34 | 1.25 | 6.92 | 15.19 |
| EBITDA | -5.22 | 7.24 | 12.35 | 21.12 |
| EBIT | -10.82 | 1.25 | 6.92 | 15.19 |
| Pretax Income | -11.22 | 0.56 | 5.57 | 15.41 |
| Tax Provision | -2.44 | 0.19 | 1.02 | 3.18 |
| Net Income | -8.77 | 0.37 | 4.56 | 12.23 |
| Net Income Common Stockholders | -8.77 | 0.37 | 4.56 | 12.23 |
| Total Expenses | 134.16 | 155.87 | 178.61 | 194.71 |
| Interest Expense | 0.40 | 1.07 | 0.25 | 0 |
| Interest Income | 0.05 | 0.13 | 0 | 0 |
| Selling General And Administration | 20.39 | 23.06 | 32.22 | 37.14 |
| Normalized EBITDA | -5.22 | 7.24 | 13.08 | 21.12 |
| Normalized Income | -8.77 | 0.37 | 5.15 | 12.23 |
| Basic EPS | -0.83 | -0.05 | 0.42 | 1.12 |
| Diluted EPS | -0.83 | -0.05 | 0.42 | 1.11 |
| Tax Effect Of Unusual Items | 0 | 0 | -0.13 | 0 |
| Tax Rate For Calcs | 0.22 | 0.35 | 0.18 | 0.21 |
| Total Unusual Items | 0 | 0 | -0.73 | 0 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | -0.73 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -8.77 | 0.37 | 4.56 | 12.23 |
| Reconciled Depreciation | 5.60 | 5.99 | 5.43 | 5.94 |
| Reconciled Cost Of Revenue | 109 | 126.82 | 140.88 | 152.84 |
| Net Interest Income | -0.40 | -0.94 | -0.25 | 0.58 |
| Net Income From Continuing And Discontinued Operation | -8.77 | 0.37 | 4.56 | 12.23 |
| Total Operating Income As Reported | -11.34 | 1.25 | 6.92 | 15.19 |
| Diluted Average Shares | 10.54 | 10.62 | 10.84 | 11.07 |
| Basic Average Shares | 10.54 | 10.62 | 10.74 | 10.88 |
| Diluted NI Availto Com Stockholders | -8.77 | 0.37 | 4.56 | 12.23 |
| Net Income Including Noncontrolling Interests | -8.77 | 0.37 | 4.56 | 12.23 |
| Net Income Continuous Operations | -8.77 | 0.37 | 4.56 | 12.23 |
| Other Income Expense | 0.53 | 0.25 | -1.10 | -0.36 |
| Other Non Operating Income Expenses | 0.53 | 0.25 | -0.37 | -0.36 |
| Special Income Charges | 0 | 0 | -0.73 | 0 |
| Other Special Charges | 0 | 0 | 0.73 | 0 |
| Net Non Operating Interest Income Expense | -0.40 | -0.94 | -0.25 | 0.58 |
| Total Other Finance Cost | 0 | 0.94 | 0.25 | -0.58 |
| Interest Expense Non Operating | 0.40 | 1.07 | 0.25 | 0 |
| Interest Income Non Operating | 0.05 | 0.13 | 0 | 0 |
| Other Operating Expenses | -0.83 | 0 | 0.08 | -1.22 |
| Depreciation Amortization Depletion Income Statement | 0.91 | 1.09 | 1.37 | 1.75 |
| Depreciation And Amortization In Income Statement | 0.91 | 1.09 | 1.37 | 1.75 |
| Amortization | 0.91 | 1.09 | 1.37 | 1.75 |
| Amortization Of Intangibles Income Statement | 0.91 | 1.09 | 1.37 | 1.75 |
| General And Administrative Expense | 20.39 | 23.06 | 0 | 0 |
| Other Gand A | 20.39 | 23.06 | 0 | 0 |
| Operating Revenue | 122.81 | 157.12 | 185.53 | 209.90 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Graham Corporationthis co. | GHM | $1.0B | 67.23↑ premium | 7.59 | 10.2% | 41.88 |
| BrightView Holdings, Inc. | BV | $1.1B | 168.57 | 0.89 | 3.1% | 7.46 |
| Resolute Holdings Management, Inc. | RHLD | $1.1B | - | 172.36 | -7.6% | 7.81 |
| Willdan Group, Inc. | WLDN | $1.1B | 20.88 | 3.53 | 17.2% | 17.21 |
| Limbach Holdings, Inc. | LMB | $1.1B | 28.29 |
| 5.43 |
| 20.0% |
| 15.98 |
| LegalZoom.com, Inc. | LZ | $1.1B | 70.71 | 6.35 | 9.0% | 11.12 |
| Genco Shipping & Trading Limited | GNK | $1.1B | - | 1.17 | -0.5% | 19.61 |
| CRA International, Inc. | CRAI | $999M | 18.99 | 4.74 | 25.6% | 11.55 |
| Eve Holding, Inc. | EVEX | $968M | - | 7.83 | -181.2% | -3.40 |
| Peer Median | - | 28.29 | 5.08 | 6.0% | 11.34 | |