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1. Company Snapshot

1.a. Company Description

Gencor Industries, Inc., together with its subsidiaries, designs, manufactures, and sells heavy machinery used in the production of highway construction materials and environmental control equipment.The company offers hot-mix asphalt plants to produce asphalt paving materials; related asphalt plant equipment, including hot-mix storage silos, fabric filtration systems, cold feed bins, and other plant components; and a range of mobile batch plants.It also provides combustion systems that transform solid, liquid, or gaseous fuels into usable energy, or burn multiple fuels in asphalt and aggregate drying industries; and combustion systems for rotary dryers, kilns, fume and liquid incinerators, and fuel heaters, as well as industrial incinerators.


In addition, the company offers thermal fluid heat transfer systems that transfer heat for storage, heating, and pumping viscous materials, such as asphalt, chemicals, heavy oils, etc.in various industrial and petrochemical applications; specialty storage tanks for various industrial uses; and asphalt pavers under the Blaw-Knox brand.Gencor Industries, Inc.


sells its products primarily to the highway construction industry through its sales representatives, and independent dealers and agents worldwide.The company was formerly known as Mechtron International Corporation and changed its name to Gencor Industries, Inc.in 1987.


Gencor Industries, Inc.was founded in 1894 and is based in Orlando, Florida.

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1.b. Last Insights on GENC

Gencor Industries' recent performance was negatively impacted by a securities fraud investigation, announced by multiple law firms, which suggests possible violations of federal securities laws. The investigation's focus on the company's possible misrepresentations and omissions in its financial reporting has likely created uncertainty and eroded investor confidence. Additionally, the company's delayed audit and filing of its Annual Report on Form 10-K for the year-end September 30, 2024, and its Quarterly Report on Form 10-Q for the period ended December 31, 2024, further contributed to the negative sentiment.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Gencor: Maintaining 'Buy' Rating As We Approach Q4 Earnings

Nov -21

Source: seekingalpha.com

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Gencor: Upgrading To Buy On Improving Sales And Earnings Performance

Aug -25

Source: seekingalpha.com

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Gencor Industries: Overlooked And Grossly Undervalued With Fortress Balance Sheet

Aug -19

Source: seekingalpha.com

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Gencor (GENC) Q3 Profit Jumps 50%

Aug -08

Source: fool.com

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Gencor Releases Third Quarter Fiscal 2025 Results

Aug -08

Source: globenewswire.com

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Gencor Stock Gains Following Q2 Earnings Amid Revenue Decline

Jul -31

Source: zacks.com

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Gencor Posts 6 Percent Q2 Revenue Drop

Jul -25

Source: fool.com

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Gencor Releases Second Quarter Fiscal 2025 Results

Jul -25

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.51%)

6. Segments

Equipment

Expected Growth: 4.5%

Growing demand for road construction and maintenance, increasing investments in infrastructure development, and advancements in asphalt plant technology are expected to drive the growth of Gencor Industries' equipment business.

Parts and Component

Expected Growth: 4.5%

Growing demand for asphalt in infrastructure development, increasing focus on road maintenance, and rising adoption of energy-efficient asphalt plants drive the market growth.

Freight

Expected Growth: 4.8%

Growing e-commerce demand, increasing globalization, and advancements in logistics technology are driving the freight market growth. Gencor Industries, Inc.'s logistics and supply chain services are well-positioned to capitalize on this trend, with a forecast CAGR of 4.8%.

Other

Expected Growth: 4.5%

The 'Other' segment's growth is driven by increasing demand for unconsolidated joint ventures and captive insurance companies, which are expected to benefit from economic growth and increasing business activities.

7. Detailed Products

Gencor Asphalt Plants

Modular asphalt plants designed for high-performance and low-maintenance

Gencor Recycle Systems

Customized recycling systems for asphalt, concrete, and aggregate materials

Gencor Silos

High-capacity silos for storing and handling dry bulk materials

Gencor Conveyors

Custom-designed conveyor systems for material handling and processing

Gencor Crushers

Heavy-duty crushers for crushing and processing aggregate materials

Gencor Screens

High-performance screens for separating and processing materials

8. Gencor Industries, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Gencor Industries, Inc. is medium due to the availability of alternative products in the market.

Bargaining Power Of Customers

The bargaining power of customers is high due to the concentration of buyers in the market, giving them significant negotiating power.

Bargaining Power Of Suppliers

The bargaining power of suppliers is low due to the availability of multiple suppliers in the market, reducing their negotiating power.

Threat Of New Entrants

The threat of new entrants is medium due to the moderate barriers to entry in the industry, including regulatory hurdles and capital requirements.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of several established players in the market, leading to intense competition.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 0.18%
Debt Cost 3.95%
Equity Weight 99.82%
Equity Cost 6.37%
WACC 6.37%
Leverage 0.18%

11. Quality Control: Gencor Industries, Inc. passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Lindsay

A-Score: 6.0/10

Value: 5.3

Growth: 6.4

Quality: 6.7

Yield: 2.0

Momentum: 7.0

Volatility: 8.3

1-Year Total Return ->

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Stock-Card
Alamo Group

A-Score: 5.8/10

Value: 5.2

Growth: 7.1

Quality: 6.6

Yield: 1.0

Momentum: 6.0

Volatility: 8.7

1-Year Total Return ->

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Stock-Card
REV Group

A-Score: 5.8/10

Value: 4.1

Growth: 6.2

Quality: 6.3

Yield: 4.0

Momentum: 10.0

Volatility: 4.0

1-Year Total Return ->

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Stock-Card
Wabash

A-Score: 4.9/10

Value: 9.6

Growth: 3.3

Quality: 6.5

Yield: 6.0

Momentum: 0.5

Volatility: 3.3

1-Year Total Return ->

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Stock-Card
Hyster-Yale

A-Score: 4.9/10

Value: 7.0

Growth: 6.4

Quality: 3.6

Yield: 7.0

Momentum: 0.5

Volatility: 4.7

1-Year Total Return ->

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Stock-Card
Gencor

A-Score: 3.9/10

Value: 5.3

Growth: 7.4

Quality: 6.0

Yield: 0.0

Momentum: 0.5

Volatility: 4.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

12.78$

Current Price

12.78$

Potential

-0.00%

Expected Cash-Flows