Analysis of Reportable Segments
Generac Holdings Inc. operates in 2 segments: Domestic and International.
Segment Profit Margin
Generac Holdings Inc., profit margin by reportable segment
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Domestic | 25.14% | 26.97% | 24.60% | 24.60% | 22.42% |
| International | 11.52% | 5.14% | 5.51% | 8.09% | 7.19% |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Domestic | Domestic segment profit margin ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021 not reaching 2019 level. |
| International | International segment profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Profit Margin: Domestic
Generac Holdings Inc.; Domestic; segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Adjusted EBITDA | 795,417) | 563,394) | 428,667) | 388,685) | 290,720) |
| Net sales | 3,164,050) | 2,088,808) | 1,742,898) | 1,580,325) | 1,296,578) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 25.14% | 26.97% | 24.60% | 24.60% | 22.42% |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Segment profit margin = 100 × Adjusted EBITDA ÷ Net sales
= 100 × 795,417 ÷ 3,164,050 = 25.14%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Domestic | Domestic segment profit margin ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021 not reaching 2019 level. |
Segment Profit Margin: International
Generac Holdings Inc.; International; segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Adjusted EBITDA | 66,008) | 20,379) | 25,448) | 35,867) | 27,010) |
| Net sales | 573,134) | 396,392) | 461,438) | 443,139) | 375,867) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 11.52% | 5.14% | 5.51% | 8.09% | 7.19% |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Segment profit margin = 100 × Adjusted EBITDA ÷ Net sales
= 100 × 66,008 ÷ 573,134 = 11.52%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | International | International segment profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Return on Assets (Segment ROA)
Generac Holdings Inc., ROA by reportable segment
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Domestic | 21.26% | 21.18% | 20.19% | 20.80% | 18.10% |
| International | 5.81% | 3.54% | 4.69% | 6.43% | 6.53% |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Domestic | Domestic segment ROA improved from 2019 to 2020 and from 2020 to 2021. |
| International | International segment ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment ROA: Domestic
Generac Holdings Inc.; Domestic; segment ROA calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Adjusted EBITDA | 795,417) | 563,394) | 428,667) | 388,685) | 290,720) |
| Assets | 3,742,101) | 2,659,597) | 2,123,251) | 1,868,554) | 1,606,606) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 21.26% | 21.18% | 20.19% | 20.80% | 18.10% |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Segment ROA = 100 × Adjusted EBITDA ÷ Assets
= 100 × 795,417 ÷ 3,742,101 = 21.26%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Domestic | Domestic segment ROA improved from 2019 to 2020 and from 2020 to 2021. |
Segment ROA: International
Generac Holdings Inc.; International; segment ROA calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Adjusted EBITDA | 66,008) | 20,379) | 25,448) | 35,867) | 27,010) |
| Assets | 1,135,679) | 575,826) | 542,418) | 557,760) | 413,358) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 5.81% | 3.54% | 4.69% | 6.43% | 6.53% |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Segment ROA = 100 × Adjusted EBITDA ÷ Assets
= 100 × 66,008 ÷ 1,135,679 = 5.81%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | International | International segment ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Asset Turnover
Generac Holdings Inc., asset turnover by reportable segment
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Domestic | 0.85 | 0.79 | 0.82 | 0.85 | 0.81 |
| International | 0.50 | 0.69 | 0.85 | 0.79 | 0.91 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Domestic | Domestic segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
| International | International segment asset turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
Segment Asset Turnover: Domestic
Generac Holdings Inc.; Domestic; segment asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Net sales | 3,164,050) | 2,088,808) | 1,742,898) | 1,580,325) | 1,296,578) |
| Assets | 3,742,101) | 2,659,597) | 2,123,251) | 1,868,554) | 1,606,606) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.85 | 0.79 | 0.82 | 0.85 | 0.81 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Segment asset turnover = Net sales ÷ Assets
= 3,164,050 ÷ 3,742,101 = 0.85
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Domestic | Domestic segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Asset Turnover: International
Generac Holdings Inc.; International; segment asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Net sales | 573,134) | 396,392) | 461,438) | 443,139) | 375,867) |
| Assets | 1,135,679) | 575,826) | 542,418) | 557,760) | 413,358) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.50 | 0.69 | 0.85 | 0.79 | 0.91 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Segment asset turnover = Net sales ÷ Assets
= 573,134 ÷ 1,135,679 = 0.50
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | International | International segment asset turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
Segment Capital Expenditures to Depreciation
Generac Holdings Inc., capital expenditures to depreciation by reportable segment
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Domestic | 1.51 | 0.98 | 0.78 | 1.07 | 0.77 |
| International | 0.37 | 0.65 | 1.68 | 0.79 | 0.29 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Domestic | Domestic segment capital expenditures to depreciation ratio improved from 2019 to 2020 and from 2020 to 2021. |
| International | International segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
Segment Capital Expenditures to Depreciation: Domestic
Generac Holdings Inc.; Domestic; segment capital expenditures to depreciation calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Capital expenditures | 100,672) | 51,867) | 36,007) | 38,242) | 29,258) |
| Depreciation and amortization | 66,675) | 53,020) | 46,145) | 35,586) | 37,962) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.51 | 0.98 | 0.78 | 1.07 | 0.77 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= 100,672 ÷ 66,675 = 1.51
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Domestic | Domestic segment capital expenditures to depreciation ratio improved from 2019 to 2020 and from 2020 to 2021. |
Segment Capital Expenditures to Depreciation: International
Generac Holdings Inc.; International; segment capital expenditures to depreciation calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Capital expenditures | 9,320) | 10,261) | 24,795) | 9,359) | 4,003) |
| Depreciation and amortization | 25,366) | 15,753) | 14,764) | 11,822) | 14,026) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.37 | 0.65 | 1.68 | 0.79 | 0.29 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= 9,320 ÷ 25,366 = 0.37
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | International | International segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
Net sales
Generac Holdings Inc., net sales by reportable segment
US$ in thousands
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Domestic | 3,164,050) | 2,088,808) | 1,742,898) | 1,580,325) | 1,296,578) |
| International | 573,134) | 396,392) | 461,438) | 443,139) | 375,867) |
| Total | 3,737,184) | 2,485,200) | 2,204,336) | 2,023,464) | 1,672,445) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
Adjusted EBITDA
Generac Holdings Inc., adjusted ebitda by reportable segment
US$ in thousands
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Domestic | 795,417) | 563,394) | 428,667) | 388,685) | 290,720) |
| International | 66,008) | 20,379) | 25,448) | 35,867) | 27,010) |
| Total | 861,425) | 583,773) | 454,115) | 424,552) | 317,730) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
Assets
Generac Holdings Inc., assets by reportable segment
US$ in thousands
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Domestic | 3,742,101) | 2,659,597) | 2,123,251) | 1,868,554) | 1,606,606) |
| International | 1,135,679) | 575,826) | 542,418) | 557,760) | 413,358) |
| Total | 4,877,780) | 3,235,423) | 2,665,669) | 2,426,314) | 2,019,964) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
Depreciation and amortization
Generac Holdings Inc., depreciation and amortization by reportable segment
US$ in thousands
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Domestic | 66,675) | 53,020) | 46,145) | 35,586) | 37,962) |
| International | 25,366) | 15,753) | 14,764) | 11,822) | 14,026) |
| Total | 92,041) | 68,773) | 60,909) | 47,408) | 51,988) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
Capital expenditures
Generac Holdings Inc., capital expenditures by reportable segment
US$ in thousands
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Domestic | 100,672) | 51,867) | 36,007) | 38,242) | 29,258) |
| International | 9,320) | 10,261) | 24,795) | 9,359) | 4,003) |
| Total | 109,992) | 62,128) | 60,802) | 47,601) | 33,261) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).