Stock Analysis on Net
Stock Analysis on Net

Generac Holdings Inc. (NYSE:GNRC)

This company has been moved to the archive! The financial data has not been updated since August 8, 2022.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 
Quarterly Data

Generac Holdings Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

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Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Short-term borrowings 1.42 1.65 1.48 1.50 0.64 0.78 1.21 1.51 1.89 1.88 2.20 2.58 2.26 1.83 1.88 1.53 1.09 1.51 1.02 1.31 1.17 1.50
Accounts payable 11.22 13.54 13.82 14.91 14.20 11.34 10.21 9.17 8.32 10.06 9.83 9.30 10.29 11.76 13.52 12.33 12.41 10.98 11.57 9.51 8.65 8.54
Accrued wages and employee benefits 1.12 0.98 1.48 1.70 1.82 1.37 1.95 1.78 1.33 0.84 1.55 1.44 1.20 1.08 1.68 1.77 1.49 1.40 1.39 1.41 1.26 1.18
Other accrued liabilities 7.60 8.07 6.80 6.60 5.78 7.16 6.33 6.13 5.93 5.26 4.98 4.93 5.19 6.10 5.94 5.85 6.68 5.90 5.20 5.47 4.95 4.92
Current portion of long-term borrowings and finance lease obligations 0.07 0.08 0.12 0.12 0.11 0.12 0.13 0.12 0.11 0.16 0.09 0.10 0.10 0.09 0.08 2.22 0.06 0.08 0.08 5.23 0.41 0.78
Current liabilities 21.42% 24.33% 23.70% 24.83% 22.56% 20.76% 19.83% 18.70% 17.59% 18.20% 18.65% 18.35% 19.04% 20.86% 23.11% 23.71% 21.73% 19.86% 19.25% 22.93% 16.44% 16.92%
Long-term borrowings and finance lease obligations, excluding current portion 23.51 19.46 18.49 20.57 22.73 24.59 26.02 28.29 30.39 31.63 31.43 34.09 35.02 35.67 36.12 36.85 41.10 43.68 44.88 45.38 53.36 53.98
Deferred income taxes 2.77 3.18 4.22 4.28 4.28 3.57 3.58 3.55 3.49 3.52 3.61 3.57 3.38 3.19 2.94 2.93 2.60 2.37 2.17 2.48 1.99 1.47
Operating lease and other long-term liabilities 6.58 6.83 7.00 5.76 4.76 4.69 5.56 5.97 6.68 5.83 5.27 5.61 5.71 5.22 3.94 3.99 4.23 4.03 3.81 3.48 3.53 3.33
Long-term liabilities 32.86% 29.47% 29.72% 30.62% 31.76% 32.85% 35.16% 37.81% 40.56% 40.97% 40.31% 43.26% 44.10% 44.08% 43.00% 43.77% 47.93% 50.07% 50.86% 51.33% 58.88% 58.77%
Total liabilities 54.27% 53.80% 53.42% 55.44% 54.32% 53.60% 54.99% 56.51% 58.15% 59.17% 58.96% 61.61% 63.14% 64.94% 66.11% 67.48% 69.66% 69.93% 70.11% 74.26% 75.32% 75.69%
Redeemable noncontrolling interests 1.51 1.39 1.19 1.09 1.00 1.85 2.05 2.14 2.20 2.26 2.30 2.18 2.34 2.32 2.51 2.57 2.40 2.62 2.17 2.09 2.00 1.80
Common stock, par value $0.01 0.01 0.01 0.01 0.02 0.02 0.02 0.02 0.02 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.04 0.04 0.04 0.04
Additional paid-in capital 17.68 18.63 19.54 13.73 14.65 15.61 16.24 17.44 18.51 19.00 18.71 18.99 19.25 19.46 19.62 20.32 21.21 22.34 22.76 22.80 24.09 24.21
Treasury stock, at cost -8.68 -9.16 -9.20 -8.75 -9.67 -10.47 -10.27 -11.15 -11.97 -12.49 -12.18 -12.50 -12.85 -13.10 -13.25 -13.78 -14.53 -15.45 -14.55 -14.69 -15.56 -14.12
Excess purchase price over predecessor basis -3.69 -3.92 -4.14 -4.93 -5.45 -5.91 -6.25 -6.80 -7.30 -7.62 -7.58 -7.79 -8.01 -8.17 -8.33 -8.66 -9.15 -9.73 -10.01 -10.10 -10.71 -10.82
Retained earnings 40.39 40.14 40.30 44.74 46.14 46.22 44.28 43.93 43.02 42.43 40.68 39.08 37.24 35.51 34.25 32.44 31.13 30.65 30.51 26.75 26.25 25.14
Accumulated other comprehensive loss -1.51 -0.90 -1.12 -1.35 -1.01 -0.92 -1.06 -2.09 -2.62 -2.79 -0.93 -1.79 -1.34 -1.21 -0.98 -0.41 -0.76 -0.40 -1.05 -1.14 -1.44 -1.93
Stockholders’ equity attributable to Generac Holdings Inc. 44.20% 44.80% 45.38% 43.46% 44.67% 44.55% 42.97% 41.36% 39.66% 38.57% 38.73% 36.01% 34.32% 32.52% 31.35% 29.93% 27.93% 27.44% 27.70% 23.65% 22.67% 22.52%
Noncontrolling interests 0.02 0.01 0.01 0.00 0.00 0.00 0.00 -0.01 -0.02 0.00 0.02 0.19 0.20 0.22 0.03 0.02 0.01 0.01 0.01 0.01 0.00 0.00
Total stockholders’ equity 44.21% 44.81% 45.39% 43.47% 44.67% 44.55% 42.97% 41.35% 39.65% 38.57% 38.75% 36.21% 34.52% 32.74% 31.38% 29.95% 27.94% 27.45% 27.71% 23.65% 22.67% 22.51%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

The analysis of the quarterly financial data reveals several noteworthy trends in the composition of liabilities and stockholders’ equity as percentages of the total liabilities and equity over the observed periods.

Short-term borrowings
This category fluctuated moderately around 1-2% throughout the timeline, peaking near the end of 2019 and showing a decreasing trend into mid-2021 before rising slightly again in 2022.
Accounts payable
Accounts payable exhibited an overall increasing trend from around 8.5% in early 2017 to a high near 14.9% in late 2021, with some decline in the first half of 2022.
Accrued wages and employee benefits
These liabilities showed variability without a clear upward or downward trend, fluctuating mainly between approximately 0.8% and 1.95%, with a notable low in early 2020 and some recovery afterward.
Other accrued liabilities
Generally increased over the period, rising from about 4.9% in early 2017 to over 8% by mid-2022, though with some dips and variability in between.
Current portion of long-term borrowings and finance lease obligations
This component was mostly stable and very low, usually below 0.2%, except for a significant spike to over 5% in Q3 2017, suggesting a one-time reclassification or payment.
Current liabilities
Current liabilities showed an upward trend from around 17% in early 2017, peaking near 25% in late 2021, before a slight drop in 2022, indicating an increasing proportion of short-term obligations.
Long-term borrowings and finance lease obligations (excluding current portion)
There was a pronounced and steady decline from about 54% in early 2017 to under 20% by late 2021, followed by a slight increase moving into 2022. This indicates a substantial reduction in long-term debt relative to total liabilities and equity.
Deferred income taxes
Deferred tax liabilities increased steadily from approximately 1.5% in early 2017 to a peak around 4.3% in late 2021, declining somewhat thereafter.
Operating lease and other long-term liabilities
This category showed fluctuations between roughly 3.3% and 7%, with notable increases after 2018, reaching peaks in late 2021, potentially reflecting changes in lease accounting or additional liabilities.
Long-term liabilities (aggregate)
The aggregate of long-term liabilities declined consistently from about 59% in early 2017 to below 30% by late 2021, with a trend reversal and modest increase in mid-2022.
Total liabilities
Total liabilities progressively decreased from roughly 76% in early 2017 to about 53-54% by 2022, reflecting a gradual deleveraging or shift in the balance sheet composition favoring equity.
Redeemable noncontrolling interests
These interests decreased from about 2.6% in early 2018 down to approximately 1% in mid-2021, then increased moderately to around 1.5% in mid-2022.
Common stock, par value
Remained relatively unchanged, holding steady near 0.01-0.04% throughout the periods, indicating no significant changes in par value or number of shares issued.
Additional paid-in capital
A declining trend characterized this item, with a decrease from over 24% in early 2017 to around 13.7-19.5% in 2022, suggesting either share repurchases, changes in capital contributions, or other equity adjustments. A notable rebound occurred in early 2022.
Treasury stock, at cost
The balance in treasury stock decreased in absolute negative terms from about -14% to around -8.7%, indicating a decline in repurchased shares held by the company, possibly due to reissuance or accounting changes.
Excess purchase price over predecessor basis
This goodwill-related line item consistently improved (became less negative) from around -10.8% to about -3.7%, reflecting potential amortization or impairment processes reducing the excess purchase price over time.
Retained earnings
Retained earnings experienced steady growth from about 25% in early 2017 up to a peak of around 46% in mid-2021, followed by a slight decrease, indicating accumulated profits and reserves increased substantially throughout most of the observed period.
Accumulated other comprehensive loss
The cumulative loss fluctuated but generally remained a small negative proportion, moving between about -0.4% and -2.8%, without a clear directional trend.
Stockholders’ equity attributable to the company
Equity steadily increased over the years from approximately 22.5% in early 2017 to a peak near 45% in late 2021, followed by stabilization and slight reduction, indicating strengthening equity base relative to total financing.
Noncontrolling interests
These interests were negligible throughout, fluctuating around zero with minimal impact on total equity composition.
Total stockholders’ equity
Consistent with the attributable equity, total stockholders' equity rose gradually from about 22.5% in early 2017 to around 45% in late 2021 and then remained relatively stable, reflecting improved capitalization.
Total liabilities and stockholders’ equity
By design, this sum remained constant at 100% throughout all periods, serving as the basis for ratio analysis.

In summary, the company demonstrated a deleveraging trend with a reduction in long-term borrowings and total liabilities as a percentage of total financing, coupled with rising equity positions, especially retained earnings and stockholders' equity, suggesting strengthening financial stability over the analyzed period. Current liabilities experienced growth, primarily driven by accounts payable and other accrued liabilities, highlighting an increase in short-term obligations. Additionally, goodwill-related intangible assets showed amortization or reduction, and treasury stock levels decreased, possibly indicating changes in share repurchase strategies. The overall financial structure shifted towards higher equity proportions, potentially improving the company’s financial flexibility and reducing leverage risk.