Saturday 17 October 2026
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Graham Corporation
GHM Industrials Specialty Industrial Machinery
Graham Corporation’s revenue for fiscal 2026 (year ended March 2026) was $245.3 million, up 16.9% from fiscal 2025. In the quarter to June 2026, revenue grew 28.6%, EPS fell 19.1%, free cash flow fell 64.7% and total debt fell 60.5%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for five.
68.18
2.97
−4.17%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to March
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Trend | 2027e | 2028e | 2029e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 17.97 | 19.48 | 17.70 | 10.36 | 11.41 | 6.51 | 9.11 | 18.15 | 24.78 | 64.83 |
Analyst estimates 2027–2029 Powerpack |
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| High | 25.00 | 28.98 | 24.90 | 21.90 | 17.44 | 13.97 | 19.93 | 46.50 | 72.09 | 125.82 | |||||
| People | |||||||||||||||
| People | Employees | 336 | 304 | 337 | 337 | 331 | 491 | 538 | 595 | 636 | 732 | ||||
| Revenue/emp, $m | 0.27 | 0.26 | 0.27 | 0.27 | 0.29 | 0.25 | 0.29 | 0.31 | 0.33 | 0.34 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 92 | 78 | 92 | 91 | 97 | 123 | 157 | 186 | 210 | 245 | ||||
| Gross margin, % | 24.14 | 21.89 | 23.86 | 20.03 | 21.00 | 7.43 | 16.17 | 21.87 | 25.18 | 23.54 | |||||
| EBT | 7 | (13) | 0 | 2 | 3 | (11) | 1 | 6 | 15 | 15 | |||||
| EBT margin, % | 7.68 | (16.58) | (0.16) | 2.55 | 3.35 | (9.13) | 0.36 | 3.00 | 7.34 | 6.02 | |||||
| Net income | 5 | (10) | 0 | 2 | 2 | (9) | 0 | 5 | 12 | 13 | |||||
| Depreciation | 4 | 18 | 10 | 3 | 3 | 7 | 7 | 6 | 7 | 9 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | 9.45 | 7.94 | 9.35 | 9.17 | 9.79 | 11.65 | 14.80 | 17.27 | 19.28 | 22.32 | ||||
| Earnings | 0.52 | (1.01) | (0.03) | 0.19 | 0.24 | (0.83) | 0.03 | 0.42 | 1.12 | 1.14 | |||||
| Cash flow | 1.28 | 0.87 | 0.81 | 0.13 | (0.17) | (0.21) | 1.31 | 2.62 | 2.23 | 1.45 | |||||
| Capex | (0.03) | (0.21) | (0.22) | (0.24) | (0.22) | (0.22) | (0.35) | (0.85) | (1.74) | (1.44) | |||||
| Free cash flow | 1.24 | 0.66 | 0.59 | (0.12) | (0.39) | (0.43) | 0.96 | 1.76 | 0.49 | 0.01 | |||||
| Book value | 11.74 | 10.58 | 10.07 | 9.79 | 9.83 | 9.15 | 9.13 | 9.83 | 10.99 | 12.77 | |||||
| Shares, m | 10 | 10 | 10 | 10 | 10 | 11 | 11 | 11 | 11 | 11 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 45.10 | 0.00 | 0.00 | 67.57 | 59.33 | 0.00 | 654.00 | 71.88 | 25.73 | 69.23 | ||||
| P/S | 2.44 | 2.69 | 2.16 | 1.41 | 1.45 | 0.66 | 0.88 | 1.77 | 1.49 | 3.54 | |||||
| P/B | 1.96 | 2.02 | 2.00 | 1.32 | 1.45 | 0.84 | 1.43 | 3.11 | 2.62 | 6.18 | |||||
| EV/Sales | 1.64 | 1.70 | 1.31 | 0.60 | 0.79 | 0.69 | 0.84 | 1.70 | 1.41 | 3.57 | |||||
| EV/FCF | 12.44 | 20.44 | 20.83 | (46.87) | (19.84) | (18.69) | 13.03 | 16.61 | 55.07 | 5,729.50 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 12 | 9 | 8 | 1 | (2) | (2) | 14 | 28 | 24 | 16 | ||||
| Capex | 0 | (2) | (2) | (2) | (2) | (2) | (4) | (9) | (19) | (16) | |||||
| Free cash flow | 12 | 6 | 6 | (1) | (4) | (5) | 10 | 19 | 5 | 0 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 79 | 78 | 80 | 77 | 77 | 28 | 24 | 8 | 5 | 0 | ||||
| Total debt | 0 | 0 | 0 | 0 | 0 | 18 | 12 | 0 | 0 | 13 | |||||
| Net debt | (73) | (76) | (78) | (73) | (65) | 4 | (6) | (17) | (22) | 6 | |||||
| Shareholders’ equity | 114 | 103 | 99 | 97 | 98 | 96 | 97 | 106 | 120 | 140 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | 3.41 | (6.68) | (0.21) | 1.23 | 1.62 | (5.35) | 0.19 | 2.08 | 4.91 | 4.25 | ||||
| ROIC | 11.15 | 2.79 | 11.80 | 1.70 | 5.69 | (7.08) | 0.86 | 4.88 | 9.68 | 6.40 | |||||
| ROE | 4.50 | (9.05) | (0.30) | 1.91 | 2.44 | (9.02) | 0.38 | 4.50 | 10.86 | 9.62 | |||||
Negative figures in brackets.
Fiscal years to Mar 2026 · latest quarter Jun 2026
Charts ten years each
Graham Corporation vs peers in Specialty Industrial Machinery (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| AMSC American Superconductor Corporation | $1.3B | 8.3× | 71.0× | +30.01% (above 0%: growing) | +23.53% (above 0%: growing) | +68.38% (above 0%: growing) | 26.28% | 10.45% | Compare |
| PSIX Power Solutions International, Inc. | $1.2B | 15.6× | 16.0× | −20.51% (below 0%: shrinking) | −67.26% (below 0%: shrinking) | +280.84% (above 0%: growing) | 27.12% | 15.68% | Compare |
| TNC Tennant Company | $1.1B | 62.8× | 22.2× | +1.69% (above 0%: growing) | −59.09% (below 0%: shrinking) | −101.60% (below 0%: shrinking) | 39.48% | 4.91% | Compare |
| GHM Graham Corporation | $835.1M | 64.3× | 56.0× | +28.57% (above 0%: growing) | −19.05% (below 0%: shrinking) | −64.73% (below 0%: shrinking) | 24.95% | 5.82% | |
| BW Babcock | $738.9M | — (loss-making) | — (loss-making) | +130.25% (above 0%: growing) | n/m | +14.34% (above 0%: growing) | 14.59% | 3.68% | Compare |
| KRNT Kornit Digital Ltd. | $737.7M | — (loss-making) | — (loss-making) | +11.19% (above 0%: growing) | n/m | +113.86% (above 0%: growing) | 45.31% | (26.91%) | Compare |
| NNE Nano Nuclear Energy Inc. | $729.8M | — (loss-making) | — | — | n/m | −13.05% (below 0%: shrinking) | 29.07% | (7,395.14%) | Compare |
| PKOH Park-Ohio Holdings Corp. | $669.3M | 24.0× | 10.4× | +10.00% (above 0%: growing) | +29.85% (above 0%: growing) | +91.47% (above 0%: growing) | 17.93% | 5.57% | Compare |
| LXFR Luxfer Holdings PLC | $465.3M | 57.5× | 17.5× | −10.23% (below 0%: shrinking) | +80.00% (above 0%: growing) | +100.00% (above 0%: growing) | 25.60% | 8.15% | Compare |
| Median of peers | $738.3M | 24.0× | 17.5× | +10.00% | +23.53% | +79.93% | 26.70% | 5.24% |
Graham Corporation (GHM) key facts
- Strength: Graham Corporation’s revenue for fiscal 2026 (year ended March 2026) was $245.3 million, up 16.9% from fiscal 2025.
- Graham Corporation (GHM) is a Specialty Industrial Machinery company in the Industrials sector, listed on the New York Stock Exchange.
- As of October 16, 2026, GHM traded at $68.18, a market capitalization of $835.1 million.
- Return on equity was 9.62% and debt-to-equity 0.00.
- Its Piotroski F-score is 3 out of 9 and its Altman Z-score is 4.21 (safe zone) for fiscal 2026.
Graham Corporation (GHM) Latest News
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