GHM
IndustrialsGraham Corporation · Industrial - Machinery · $1B
What is Graham Corporation?
Graham Corporation is a small-cap industrial manufacturer specializing in highly engineered fluid, heat transfer, vacuum, and power equipment. Founded in 1936 and headquartered in Batavia, New York, the company serves defense, space, and energy markets globally.
Graham Corporation designs and manufactures specialized equipment for demanding industrial and defense applications. Revenue comes from direct equipment sales, aftermarket services, and spare parts. Its products support defense programs — including torpedo systems and rocket propulsion — alongside commercial applications in chemical processing, petroleum refining, and cryogenic energy. The company sells directly across the United States and internationally, including the Middle East, Asia, Canada, and South America.
Graham Corporation was founded in 1936 and operates from its headquarters in Batavia, New York.
- Vacuum and heat transfer systems for industrial processing
- Torpedo ejection and power systems for defense
- Rocket propulsion turbopumps and fuel pumps
- Thermal management and life support equipment
- Power generation turbines, compressors, and generators
Is GHM a Good Stock to Buy?
UQS Score rates GHM as Below Average overall, reflecting meaningful challenges across several key quality dimensions.
The Risk pillar stands out as the relative bright spot in GHM's profile, suggesting the company carries a manageable financial risk profile compared to many small-cap peers. Growth is rated Neutral, indicating the business is not in decline but has not yet demonstrated a clear upward trajectory.
Both the Quality and Moat pillars are rated Weak, pointing to limited competitive insulation and below-average business fundamentals. Valuation is rated Elevated, meaning the market may already be pricing in optimistic outcomes.
See the exact pillar breakdown and full financial metrics by signing up for a Pro membership at UQS Score. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does GHM pay dividends?
No — Graham Corporation does not currently pay a dividend.
Graham Corporation does not currently pay a dividend. For a small-cap industrial company operating in defense and specialized energy markets, retaining capital to fund engineering development, contract execution, and potential growth initiatives is a common strategic choice. Income-focused investors should factor this into their assessment of GHM.
When does GHM report earnings?
Graham Corporation reports earnings on a quarterly cadence, consistent with standard practice for US-listed equities.
The company's quarterly results tend to reflect the lumpy nature of defense and industrial contract revenue, where timing of deliveries and program milestones can cause variability. Investors should look beyond any single quarter when assessing underlying trends.
For the most recent quarter's results and guidance, visit Graham Corporation's investor relations page directly.
GHM Price History
+539.0% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Graham Corporation?
Based on Graham Corporation's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
GHM Long-term Outlook
GHM's Growth pillar is rated Neutral, suggesting the business has some forward momentum — particularly tied to defense spending trends and space-related programs — but has not yet translated that into consistently strong fundamental improvement. The Elevated Valuation pillar introduces meaningful risk: if growth does not accelerate, the current market pricing leaves limited margin for error. The Good Risk rating provides some reassurance that the balance sheet is not a near-term concern.
Growth drivers
- Expanding defense and space program demand for specialized propulsion and thermal equipment
- Aftermarket services and spare parts providing recurring revenue alongside project work
- International expansion into energy and petrochemical markets
Key risks
- Elevated valuation leaves little room for execution shortfalls
- Weak Moat rating means limited pricing power against larger competitors
- Contract-driven revenue creates quarter-to-quarter variability
GHM vs Peers
Graham Corporation operates in a niche corner of the industrials and energy technology space, where its competitive set spans both established power systems players and emerging clean energy companies.
Nano Nuclear Energy focuses on micro-reactor nuclear technology, representing an emerging energy source rather than GHM's established defense and industrial equipment manufacturing.
Ballard Power Systems centers on hydrogen fuel cell technology for transportation and stationary power, contrasting with GHM's broader vacuum, heat transfer, and defense equipment portfolio.
Frequently Asked Questions
What does Graham Corporation do?
Graham Corporation designs and manufactures highly engineered equipment for defense, space, energy, and industrial markets. Its products include vacuum systems, heat exchangers, rocket propulsion components, torpedo power systems, and thermal management equipment. The company also provides aftermarket services and spare parts, selling directly in the US and internationally.
Does GHM pay dividends?
Graham Corporation does not currently pay a dividend. The company retains capital to support its engineering operations and contract-driven business model. Investors seeking regular income should note that GHM is not structured as a dividend-paying stock at this time.
When does GHM report earnings?
GHM reports on a quarterly cadence, as is standard for US-listed companies. Because defense and industrial contract revenue can be uneven, individual quarters may vary significantly. Check Graham Corporation's investor relations page for the most current reporting schedule and recent results.
Is GHM a good stock to buy?
UQS Score rates GHM as Below Average, driven by Weak Quality and Moat pillar ratings alongside an Elevated Valuation. The Risk pillar is rated Good, which is a relative positive. Whether GHM fits a portfolio depends on individual risk tolerance and investment objectives — the full pillar breakdown is available to Pro members.
Is GHM overvalued?
GHM's Valuation pillar is rated Elevated, suggesting the stock is priced above what the underlying fundamentals might typically support. For a company with Weak Quality and Moat ratings, an elevated valuation means investors are paying a premium that requires strong execution to justify.
How does GHM compare to its competitors?
GHM occupies a niche in specialized defense and industrial equipment manufacturing. Compared to peers like Ballard Power Systems — which focuses on hydrogen fuel cells — or Nano Nuclear Energy, GHM's differentiation lies in its long-standing engineering heritage and defense program exposure rather than emerging clean energy technology.
What is GHM's market cap bracket?
Graham Corporation is classified as a small-cap stock. This means it carries characteristics typical of smaller companies: potentially higher volatility, less analyst coverage, and greater sensitivity to individual contract wins or losses compared to large-cap industrials.
Who founded Graham Corporation?
Graham Corporation was founded in 1936 and has operated for nearly nine decades as a specialized industrial equipment manufacturer. Detailed founding history is publicly available through the company's official investor relations and corporate history resources.
Is GHM a long-term quality investment?
As a long-term quality indicator, GHM's Below Average UQS Score — with Weak ratings in both Quality and Moat — suggests the business has not yet demonstrated the durable competitive advantages typically associated with high-quality long-term holdings. The Good Risk rating is a positive signal, but the overall profile warrants careful consideration.
What is the main competitive advantage of Graham Corporation?
Graham Corporation's primary differentiation comes from its deep engineering expertise in highly specialized, mission-critical equipment for defense and industrial applications. However, the UQS Moat pillar is rated Weak, indicating this advantage may not yet translate into durable pricing power or barriers to competition at the business-model level.
What sector does GHM belong to?
Graham Corporation belongs to the Industrials sector, specifically within the specialized machinery and defense equipment space. Its exposure to defense, space, and energy end markets gives it a somewhat differentiated profile compared to more broadly diversified industrial manufacturers.
Is GHM a growth stock or value stock?
Based on UQS pillar ratings, GHM does not fit cleanly into either category. Its Growth pillar is rated Neutral — neither a clear growth story nor a declining business — while its Valuation pillar is rated Elevated, making it difficult to characterize as a traditional value opportunity.
Unlock Full GHM Analysis
Sign in to unlock the detailed analysis behind the UQS Score.
- ✓View the complete five-pillar UQS Score breakdown
- ✓Access detailed financial metrics and trend data
- ✓Compare GHM against sector peers side by side
- ✓Screen for higher-rated small-cap industrial stocks
- ✓Get the full analyst-style quality and risk assessment
Pro Analysis
GHM — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 9, 2026 | 32.6 | 37.2 | 22.0 | 32.3 | 64.1 | 11.8 | 0.0 |
| May 7, 2026 | 32.6 | 37.2 | 22.0 | 32.1 | 64.1 | 12.0 | +0.1 |
| May 3, 2026 | 32.5 | 37.2 | 22.0 | 31.4 | 64.1 | 12.3 | -0.2 |
| Apr 26, 2026 | 32.7 | 37.2 | 22.0 | 32.3 | 64.1 | 11.9 | +0.1 |
| Apr 25, 2026 | 32.6 | 37.2 | 22.0 | 31.6 | 64.1 | 12.2 | -0.1 |
| Apr 23, 2026 | 32.7 | 37.2 | 22.0 | 32.5 | 64.1 | 12.2 | 0.0 |
| Apr 22, 2026 | 32.7 | 37.2 | 22.0 | 32.3 | 64.1 | 12.2 | -1.6 |
| Apr 19, 2026 | 34.3 | 37.2 | 22.0 | 40.4 | 64.1 | 12.2 | +0.2 |
| Apr 18, 2026 | 34.1 | 37.2 | 22.0 | 39.3 | 64.1 | 12.5 | -1.6 |
| Apr 16, 2026 | 35.7 | 37.2 | 22.0 | 40.8 | 64.1 | 20.9 | +0.1 |
GHM — Pillar Breakdown
Quality
— 42.1/100 (25%)Graham Corporation has average quality metrics, with room for improvement in margins or capital efficiency.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 92.8/100 (20%)Graham Corporation is growing rapidly with strong revenue and earnings expansion.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 64.1/100 (15%)Graham Corporation maintains a reasonable risk profile with manageable debt levels.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 29.2/100 (15%)Graham Corporation appears expensively valued relative to its fundamentals and growth prospects.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 22/100 (25%)Graham Corporation operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for GHM.
Score Composition
Financial Data
More Stock Analysis
How is the GHM UQS Score Calculated?
The UQS (Unified Quality Score) for Graham Corporation is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Graham Corporation's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Graham Corporation is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.