GNRC vs WTS: Generac and Watts Water Technologies compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Generac is the larger company, worth $12.3B, close to Watts Water Technologies's $11.7B.
- Watts Water Technologies grew revenue faster over the last year (+18.6% vs +10.6%).
- Watts Water Technologies keeps more of each dollar of revenue as operating profit (19.1% vs 9.5%).
- On earnings, Watts Water Technologies is the cheaper stock (32.2x vs 65.2x).
- Generac's price assumes faster free cash flow growth: about 16% a year, against 12% for Watts Water Technologies (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | GNRC | WTS |
|---|---|---|
| Market cap | $12.3B | $11.7B |
| Share price | $224.94 | $352.72 |
| Revenue (last fiscal year) | $4.2B | $2.4B |
| Free cash flow (last fiscal year) | $268M | $356M |
| Revenue growth, last year | +10.6% | +18.6% |
| Revenue growth per year, last 5 fiscal years | +3.0% | +7.7% |
| Operating margin | 9.5% | 19.1% |
| Net margin | 5.8% | 14.3% |
| Return on equity | 9.0% | 17.5% |
| P/E (trailing) | 65.2x | 32.2x |
| Price / free cash flow | 45.8x | 33.0x |
| EV / EBITDA | 21.8x | 19.8x |
| FCF growth the price implies | 15.9% | 11.5% |
| Dividend yield | — | 0.60% |
| Debt / equity | 1.01x | 0.35x |
| Fundamental grade | C | B |
| Superinvestors holding it | 9 | 3 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Generac
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $3.7B | $301M | 19.3% |
| 2022 | $4.6B | -$28M | 12.4% |
| 2023 | $4.0B | $393M | 9.6% |
| 2024 | $4.3B | $605M | 12.5% |
| 2025 | $4.2B | $268M | 6.9% |
Watts Water Technologies
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.8B | $154M | 13.2% |
| 2022 | $2.0B | $196M | 15.9% |
| 2023 | $2.1B | $281M | 17.1% |
| 2024 | $2.3B | $326M | 17.3% |
| 2025 | $2.4B | $356M | 18.4% |
Where the revenue comes from
Generac · by segments, 2025
Domestic$3.5B82%
International$738M18%
Watts Water Technologies · by segments, 2025
Americas$1.8B76%
Europe$451M18%
APMEA$140M6%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open GNRC in InvestinglyQuestions
Which is bigger, Generac or Watts Water Technologies?
Generac (GNRC), at $12.3B against $11.7B.
Is GNRC or WTS cheaper?
By trailing P/E, Watts Water Technologies (32.2x) is cheaper than Generac (65.2x). A lower multiple can also mean the market expects less growth.
Which grows faster, GNRC or WTS?
Watts Water Technologies: revenue grew +18.6% over the last year, against +10.6%.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.