The strong FY27 guidance and multi-year targets reinforce the company's growth trajectory, driven by defense backlog and commercial expansion. Monitor quarterly execution against the 13% EBITDA margin target and any M&A announcements that could accelerate the 8-10% organic CAGR. The record backlog provides near-term revenue visibility.
Price Chart
Executive Summary
Graham Corporation held its 2026 Investor Day, providing FY27 guidance of $285M-$295M net sales and $35M-$40M Adjusted EBITDA, implying ~18% revenue growth and ~44% EBITDA growth at midpoint. The company also introduced three-year targets (FY27-FY29) of 8-10% organic revenue CAGR, >14% Adjusted EBITDA margin, and >20% ROIC, supported by a record $533M backlog and a strong balance sheet with $80M cash and zero debt.
Key Facts
- FY27 guidance: net sales $285M-$295M, Adjusted EBITDA $35M-$40M (13% margin at midpoint)
- Three-year targets (FY27-FY29): 8-10% organic revenue CAGR, >14% Adjusted EBITDA margin, >20% ROIC
- Record backlog of $533M at FY26, up from $138M at FY21
- FY26 revenue $245.3M (up 16.9% YoY), Adjusted EBITDA $26.0M (10.6% margin)
- Completed $50M PIPE with T. Rowe Price in April 2026; $80M cash, $0 debt, $150M shelf registration
- Defense segment 60% of FY26 revenue; >80% sole-source content on long-term strategic programs
Financial Impact
FY27 guidance implies ~18% revenue growth and ~44% Adjusted EBITDA growth at midpoint; three-year targets suggest continued margin expansion and high-single-digit organic growth
Risk Factors
- Execution risk on margin expansion and backlog conversion
- Defense budget cyclicality and reliance on U.S. Navy programs
- Integration risk from future M&A and lower-margin FlackTek business (10% EBITDA margin)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-274996 |
| Document: d154066d8k.htm | 0001193125-26-274996 |
| Document: 0001193125-26-274996-index-headers.html | 0001193125-26-274996 |
| Document: 0001193125-26-274996-index.html | 0001193125-26-274996 |
| Document: 0001193125-26-274996.txt | 0001193125-26-274996 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | SC 13G | $68.50 | awaiting T+60 | — | $71.02 (+3.69%) |
Jul 14, 2026 15w ago | DEFA14A | $107.05 $84.34 | ▼ −21.21% | ▼ −24.59% | $71.02 (−33.66%) |
Jun 18, 2026 18w ago | 8-K | $110.73 $83.69 | ▼ −24.42% | ▼ −26.31% | $71.02 (−35.86%) |
Jun 17, 2026 18w ago | 8-K | $115.89 $87.90 | ▼ −24.15% | ▼ −27.30% | $71.02 (−38.72%) |
Jun 8, 2026 20w ago | 8-K | $95.34 $83.49 | ▼ −12.43% | ▼ −15.48% | $71.02 (−25.51%) |
Apr 30, 2026 25w ago | S-3 | $94.80 $99.82 | ▲ +5.30% | ▲ +2.23% | $71.02 (−25.08%) |
Apr 15, 2026 27w ago | 8-K | $91.97 $107.44 | ▲ +16.82% | ▲ +8.68% | $71.02 (−22.78%) |
US Market Status
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