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GRC

The Gorman-Rupp Company

GRC

The Gorman-Rupp Company • NYSE
$46.49 ▼ -0.09% (-0.04)
Market Cap $1.22 B
52w High $49.25
52w Low $30.87
Dividend Yield 0.74%
P/E 24.34
Volume 41.28K
Outstanding Shares 26.31M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $172.825M ▼ $25.856M ▼ $11.344M ▼ 6.564% ▼ $0.43 ▼ $28.003M ▼
Q2-2025 $179.045M ▲ $29.141M ▲ $15.797M ▲ 8.823% ▲ $0.6 ▲ $33.348M ▲
Q1-2025 $163.948M ▲ $28.207M ▲ $12.128M ▲ 7.397% ▲ $0.46 ▲ $28.806M ▲
Q4-2024 $162.704M ▼ $28.113M ▼ $10.977M ▼ 6.747% ▼ $0.42 ▼ $27.337M ▼
Q3-2024 $168.182M $28.776M $12.919M 7.682% $0.49 $30.207M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $42.937M ▲ $869.901M ▲ $464.744M ▲ $405.157M ▲
Q2-2025 $26.985M ▲ $861.796M ▲ $464.028M ▼ $397.768M ▲
Q1-2025 $21.84M ▼ $857.847M ▼ $475.776M ▼ $382.071M ▲
Q4-2024 $24.213M ▼ $858.469M ▼ $484.669M ▼ $373.8M ▲
Q3-2024 $39.701M $883.474M $516.14M $367.334M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $11.344M ▼ $42.342M ▲ $-6.53M ▼ $-19.897M ▲ $15.952M ▲ $48.319M ▲
Q2-2025 $15.797M ▲ $27.788M ▲ $-2.917M ▲ $-20.283M ▲ $5.145M ▲ $24.831M ▲
Q1-2025 $12.128M ▲ $21.1M ▲ $-3.001M ▲ $-20.648M ▼ $-2.373M ▲ $18.08M ▲
Q4-2024 $10.977M ▼ $9.256M ▼ $-3.835M ▼ $-19.506M ▼ $-15.488M ▼ $5.246M ▼
Q3-2024 $12.919M $27.177M $-3.069M $-19.401M $5.456M $23.999M

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown strongly over the last five years, roughly doubling from the early period to today, but it has flattened out over the most recent two years. That suggests Gorman-Rupp has already absorbed a big step-up in scale and is now in more of a steady-state growth phase. Profitability has improved meaningfully. Gross profit and operating profit have both grown faster than sales over the period, which points to better pricing, product mix, or cost control. There was a clear dip in bottom-line profit a few years ago despite higher sales, likely tied to acquisition, integration, or inflation-related costs, but earnings have since recovered to clearly better levels than before. Overall, the income statement shows a business that has successfully scaled up, restored margins after a noisy transition period, and is now delivering noticeably higher earnings per share than it did earlier in the decade, though not on a perfectly smooth path.

Balance Sheet

Balance Sheet The balance sheet has expanded significantly, reflecting the larger scale of the business after acquisitions and growth. Total assets have roughly doubled versus earlier years, which lines up with the step-up in revenue. The most notable change is the introduction of meaningful debt. A few years ago the company carried essentially no borrowings; now it has a moderate amount of leverage. Equity has also grown steadily, so the company is still funded by a solid base of shareholder capital, but the balance between debt and equity is more even than in the past. Cash on hand is lower than it was before the expansion, which suggests part of the growth and acquisition activity was funded with cash and new debt. The result is a more leveraged but also larger and more diversified company. The key watchpoint is how comfortably ongoing earnings and cash flows cover this higher debt load over time.

Cash Flow

Cash Flow Operating cash flow has been consistently positive but somewhat uneven from year to year. After the larger acquisition and growth step, cash generation temporarily lagged earnings, then bounced back to stronger levels more recently, before easing a bit again in the latest period. Free cash flow has generally been positive, even in the more challenging integration year when it was close to breakeven. Capital spending has been fairly modest and stable, which indicates a disciplined approach to investment and no major, cash-hungry build-out projects. Taken together, the company appears able to fund its regular capital needs and still generate surplus cash most years. The main area to monitor is the consistency of cash conversion from profits, especially given the higher debt commitments now in place.

Competitive Edge

Competitive Edge Gorman-Rupp occupies a strong niche in industrial pumps, backed by a long history and a reputation for highly reliable equipment. Its focus on self-priming centrifugal pumps and packaged lift stations gives it a differentiated position in municipal, construction, and industrial markets where uptime, safety, and maintenance costs matter a lot. The company benefits from several structural advantages: a well-known brand in its niches, very long product lifespans, and a wide, technically capable distributor network. Many customers design entire systems around Gorman-Rupp equipment, which raises switching costs and helps support repeat business and aftermarket revenue. On the risk side, the company still operates in cyclical end markets that depend on municipal budgets, industrial activity, and construction trends. It also competes against larger global pump makers with deeper resources. Maintaining its edge will require continued focus on service quality, application expertise, and product performance, not just price.

Innovation and R&D

Innovation and R&D Innovation is a core part of Gorman-Rupp’s story. Over decades it has pioneered and refined self-priming pump designs and built a portfolio of specialized product families, such as its Super T and Ultra V series and its ReliaSource packaged lift stations. These offerings are engineered to be easier and safer to maintain, which directly addresses customer pain points rather than just pushing higher flow or pressure. The company also has a meaningful custom-engineering capability through its OEM-oriented division, which designs pumps for niche uses ranging from medical devices to fuel systems. This customization deepens relationships and makes its solutions harder to replace. Recent moves suggest a focus on sustainability and broader applications, such as mobile electric-driven pump sets in Europe and the acquisition of Fill-Rite in fuel transfer and metering. One area to watch is how aggressively Gorman-Rupp embraces “smart” and connected technologies for monitoring and predictive maintenance, as this is a growing theme across industrial equipment and could influence its competitive position over the long term.

Summary

Gorman-Rupp today looks like a scaled-up, niche industrial manufacturer that has successfully grown from a smaller, debt-free base into a larger, more complex business with moderate leverage. On the income side, it has turned a step-change in revenue into meaningfully higher profits after working through a bumpy integration period. The balance sheet now carries noticeable debt but still rests on a solid equity foundation. Cash flows are generally healthy, with positive free cash generation most years and manageable investment needs. Strategically, the company appears well-entrenched in its chosen pump markets, supported by a strong brand, engineering know-how, and high switching costs for many customers. Its innovation track record, custom solutions, and targeted acquisitions all point to a business trying to deepen its niche rather than chase broad, low-margin volume. Key things to monitor going forward include: how consistently cash flow supports the higher debt load, how well the company maintains or expands margins in a cyclical environment, and whether it keeps pace with evolving trends in smart, efficient, and environmentally focused pumping solutions. The long-term story is one of a specialized industrial player with solid foundations and some clear competitive strengths, but also the usual cyclical and execution risks typical of its sector.

NEWS

October 24, 2025 · 6:45 AM UTC

Gorman-Rupp Announces Increase in Quarterly Cash Dividend

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October 24, 2025 · 6:30 AM UTC

Gorman-Rupp Reports Third Quarter 2025 Financial Results

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October 20, 2025 · 9:00 AM UTC

AuditBoard and Protiviti Launch New AI Integrations to Elevate GRC Teams, Transform Risk Insights into Strategic Business Value

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