Overview
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- TickerGHM on NYSE2
- IndustryGeneral Industrial Machinery & Equipment2
- HeadquartersBatavia, United States2
- Incorporated inDE4
- Business address20 Florence Ave, Batavia, Ny 140204
- Filer categoryAccelerated filer4
- Legal formCorporation2
- LEI254900EI9P4LTY524J772
- StatusActive2
- LEI statusIssued and current2
- Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States2
- Registered withDivision of Corporations, Department of State, 20041942
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All forward-looking statements included in this Form 10-K are made only as of the date indicated or as of the date of this Form 10-K. Except as required by law, we undertake no obligation to update or announce any revisions to forward-looking statements contained in this Form 10-K, whether as a result of new information, future events or otherwise.6 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2026
23.5%Gross margin3
6.1%Operating margin3
5.1%Net margin3
16.9%Revenue growth, 20263
8.9%Return on equity3
0.09×Debt to equity3
-$121.0KFree cash flow3
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Defense brought in 60% of the revenue GRAHAM CORP broke down this way in fiscal 2026.
Products and services by year
| Products and services | 2024 | 2025 | 2026 |
|---|---|---|---|
| Defense | $99.5M | $121.9M | $147.4M |
| Energy and Process | $72.8M | $73.3M | $83.3M |
| Space | $13.3M | $14.7M | $14.5M |
Regions
United States brought in 85% of the revenue GRAHAM CORP broke down this way in fiscal 2026.
Regions by year
| Regions | 2024 | 2025 | 2026 |
|---|---|---|---|
| United States | $155.9M | $169.9M | $209.6M |
| Asia | $15.1M | $16.9M | $12.6M |
| Canada | $4.2M | $7.6M | $11.2M |
| Middle East | $2.6M | $7.1M | $7.0M |
| All Other Countries | $7.0M | $7.2M | $3.6M |
| South America | $733.0K | $1.2M | $1.3M |
Where the money goes
Where each dollar of revenue went, fiscal 2026
- Cost of revenue75¢$187.5M
- Research and development3¢$6.4M
- Selling, general and admin17¢$41.6M
- Interest0¢$257.0K
- Income tax1¢$2.3M
- Profit5¢$12.5M
Out of $245.3M in revenue.3
Where each dollar of operating cash went, fiscal 2026
- Capital spending100¢$16.1M
Out of $15.9M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.3
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.3
| Period ending | 2026-03-31 | 2025-03-31 | 2024-03-31 |
|---|---|---|---|
| Net sales | $245.3M | $209.9M | $185.5M |
| Cost of products sold | $187.5M | $157.0M | $144.9M |
| Gross profit | $57.8M | $52.9M | $40.6M |
| Selling, general and administrative | $41.6M | $37.1M | $32.2M |
| Selling, general and administrative amortization | $1.8M | $1.7M | $1.4M |
| Other operating (income) expense, net | -$621.0K | -$1.2M | $80.0K |
| Operating income | $15.0M | $15.2M | $6.9M |
| Loss on extinguishment of debt | $0 | $0 | $726.0K |
| Other expense, net | $514.0K | $364.0K | $374.0K |
| Interest (income) expense, net | -$257.0K | -$583.0K | $248.0K |
| Total other expenses (income) | $257.0K | -$219.0K | $1.3M |
| Income before provision for income taxes | $14.8M | $15.4M | $5.6M |
| Provision for income taxes | $2.3M | $3.2M | $1.0M |
| Net Income | $12.5M | $12.2M | $4.6M |
| Net income | $1.14 | $1.12 | $0.42 |
| Net income | $1.12 | $1.11 | $0.42 |
| Basic | 11.0M shares | 10.9M shares | 10.7M shares |
| Diluted | 11.1M shares | 11.1M shares | 10.8M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.3
| Period ending | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $6.6M | $21.6M | ||
| Trade accounts receivable, net of allowances ($195 and $630 at March 31, 2026 and 2025, respectively) | $33.8M | $35.5M | ||
| Unbilled revenue | $59.9M | $38.5M | ||
| Inventories | $50.8M | $40.0M | ||
| Prepaid expenses and other current assets | $4.3M | $4.2M | ||
| Income taxes receivable | $1.2M | $1.5M | ||
| Total current assets | $156.5M | $141.4M | ||
| Property, plant and equipment, net | $60.3M | $50.6M | ||
| Prepaid pension asset | $6.6M | $6.0M | ||
| Operating lease assets | $6.7M | $6.4M | ||
| Goodwill | $38.1M | $25.5M | ||
| Finite-Lived Intangible Assets, Net | $38.7M | $23.6M | ||
| Other intangible assets, net | $13.5M | $6.9M | ||
| Deferred income tax asset | $131.0K | $1.5M | ||
| Other assets | $3.2M | $2.4M | ||
| Total assets | $323.6M | $264.1M | ||
| Current portion of finance lease obligations | $23.0K | $21.0K | ||
| Accounts payable | $25.7M | $27.3M | ||
| Accrued compensation | $21.5M | $19.2M | ||
| Accrued expenses and other current liabilities | $4.7M | $4.3M | ||
| Customer deposits | $102.4M | $84.1M | ||
| Operating lease liabilities | $1.8M | $1.3M | ||
| Income taxes payable | $5.0K | $0 | ||
| Total current liabilities | $156.3M | $136.2M | ||
| Long-term debt | $13.0M | $0 | ||
| Finance lease obligations | $21.0K | $44.0K | ||
| Operating lease liabilities | $5.3M | $5.5M | ||
| Deferred income tax liability | $897.0K | $24.0K | ||
| Accrued pension and postretirement benefit liabilities | $1.1M | $1.2M | ||
| Other long-term liabilities | $6.6M | $1.6M | ||
| Total liabilities | $183.3M | $144.5M | ||
| Common stock, $0.10 par value, 25,500 shares authorized; 11,247 and 11,077 shares issued and 11,073 and 10,903 shares outstanding at March 31,2026 and 2025, respectively | $1.1M | $1.1M | ||
| Capital in excess of par value | $41.7M | $34.6M | ||
| Retained earnings | $106.7M | $94.2M | ||
| Accumulated other comprehensive loss | -$5.8M | -$7.0M | ||
| Treasury stock (174 at March 31, 2026 and 2025, respectively) | -$3.4M | -$3.4M | ||
| Total stockholders equity | $140.3M | $119.6M | $105.6M | $96.9M |
| Total liabilities and stockholders equity | $323.6M | $264.1M | ||
| Allowances on trade accounts receivable | $195.0K | $630.0K | ||
| Preferred stock, par value | $1.00 | $1.00 | ||
| Preferred stock, shares authorized | 500.0K shares | 500.0K shares | ||
| Common stock, par value | $0.10 | $0.10 | ||
| Common stock, shares authorized | 25.5M shares | 25.5M shares | ||
| Common stock, shares issued | 11.2M shares | 11.1M shares | ||
| Common stock, shares outstanding | 11.1M shares | 10.9M shares | ||
| Treasury stock | 174.0K shares | 174.0K shares |
| Period ending | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $6.6M | $21.6M | ||
| Trade accounts receivable, net of allowances ($195 and $630 at March 31, 2026 and 2025, respectively) | $33.8M | $35.5M | ||
| Unbilled revenue | $59.9M | $38.5M | ||
| Inventories | $50.8M | $40.0M | ||
| Prepaid expenses and other current assets | $4.3M | $4.2M | ||
| Income taxes receivable | $1.2M | $1.5M | ||
| Total current assets | $156.5M | $141.4M | ||
| Property, plant and equipment, net | $60.3M | $50.6M | ||
| Prepaid pension asset | $6.6M | $6.0M | ||
| Operating lease assets | $6.7M | $6.4M | ||
| Goodwill | $38.1M | $25.5M | ||
| Finite-Lived Intangible Assets, Net | $38.7M | $23.6M | ||
| Other intangible assets, net | $13.5M | $6.9M | ||
| Deferred income tax asset | $131.0K | $1.5M | ||
| Other assets | $3.2M | $2.4M | ||
| Total assets | $323.6M | $264.1M | ||
| Current portion of finance lease obligations | $23.0K | $21.0K | ||
| Accounts payable | $25.7M | $27.3M | ||
| Accrued compensation | $21.5M | $19.2M | ||
| Accrued expenses and other current liabilities | $4.7M | $4.3M | ||
| Customer deposits | $102.4M | $84.1M | ||
| Operating lease liabilities | $1.8M | $1.3M | ||
| Income taxes payable | $5.0K | $0 | ||
| Total current liabilities | $156.3M | $136.2M | ||
| Long-term debt | $13.0M | $0 | ||
| Finance lease obligations | $21.0K | $44.0K | ||
| Operating lease liabilities | $5.3M | $5.5M | ||
| Deferred income tax liability | $897.0K | $24.0K | ||
| Accrued pension and postretirement benefit liabilities | $1.1M | $1.2M | ||
| Other long-term liabilities | $6.6M | $1.6M | ||
| Total liabilities | $183.3M | $144.5M | ||
| Common stock, $0.10 par value, 25,500 shares authorized; 11,247 and 11,077 shares issued and 11,073 and 10,903 shares outstanding at March 31,2026 and 2025, respectively | $1.1M | $1.1M | ||
| Capital in excess of par value | $41.7M | $34.6M | ||
| Retained earnings | $106.7M | $94.2M | ||
| Accumulated other comprehensive loss | -$5.8M | -$7.0M | ||
| Treasury stock (174 at March 31, 2026 and 2025, respectively) | -$3.4M | -$3.4M | ||
| Total stockholders equity | $140.3M | $119.6M | $105.6M | $96.9M |
| Total liabilities and stockholders equity | $323.6M | $264.1M | ||
| Allowances on trade accounts receivable | $195.0K | $630.0K | ||
| Preferred stock, par value | $1.00 | $1.00 | ||
| Preferred stock, shares authorized | 500.0K shares | 500.0K shares | ||
| Common stock, par value | $0.10 | $0.10 | ||
| Common stock, shares authorized | 25.5M shares | 25.5M shares | ||
| Common stock, shares issued | 11.2M shares | 11.1M shares | ||
| Common stock, shares outstanding | 11.1M shares | 10.9M shares | ||
| Treasury stock | 174.0K shares | 174.0K shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.3
| Period ending | 2026-03-31 | 2025-03-31 | 2024-03-31 |
|---|---|---|---|
| Net income | $12.5M | $12.2M | $4.6M |
| Depreciation | $5.3M | $3.7M | $3.3M |
| Amortization | $2.5M | $2.2M | $2.2M |
| Adjustments for credit losses | -$256.0K | $829.0K | $95.0K |
| Amortization of unrecognized prior service cost and actuarial losses | $840.0K | $781.0K | $843.0K |
| Amortization of debt issuance costs | $0 | $0 | $131.0K |
| Equity-based compensation expense | $2.1M | $2.0M | $1.3M |
| Gain on disposal or sale of property, plant and equipment | -$52.0K | $0 | -$5.0K |
| Change in fair value of contingent consideration | -$568.0K | -$1.2M | $80.0K |
| Loss on extinguishment of debt | $0 | $0 | $726.0K |
| Deferred income taxes | $1.9M | $1.5M | -$472.0K |
| Accounts receivable | $5.9M | $8.0M | -$20.7M |
| Unbilled revenue | -$21.4M | -$10.6M | $11.9M |
| Inventories | -$6.8M | -$6.6M | -$6.2M |
| Income taxes receivable | $326.0K | -$2.2M | $998.0K |
| Prepaid expenses and other current and non-current assets | -$121.0K | -$2.2M | -$2.2M |
| Operating lease assets | $1.4M | $1.3M | $1.2M |
| Prepaid pension asset | -$115.0K | -$234.0K | -$287.0K |
| Accounts payable | -$794.0K | $3.5M | $401.0K |
| Accrued compensation, accrued expenses and other current and non-current liabilities | -$1.8M | $639.0K | $6.0M |
| Customer deposits | $16.4M | $12.1M | $25.6M |
| Operating lease liabilities | -$1.4M | -$1.3M | -$1.1M |
| Long-term portion of accrued compensation, accrued pension liability and accrued postretirement benefits | -$63.0K | -$33.0K | -$45.0K |
| Net cash provided by operating activities | $15.9M | $24.3M | $28.1M |
| Purchase of property, plant and equipment | -$16.1M | -$19.0M | -$9.2M |
| Proceeds from disposal of property, plant and equipment | $274.0K | $0 | $44.0K |
| Acquisitions, net of cash acquired | -$27.3M | -$170.0K | -$6.8M |
| Net cash used by investing activities | -$43.1M | -$19.1M | -$16.0M |
| Borrowings of debt obligations | $33.0M | $0 | $13.0M |
| Principal repayments on debt | -$20.0M | $0 | -$25.5M |
| Repayments on finance lease obligations | -$335.0K | -$320.0K | -$316.0K |
| Payment of debt exit costs | $0 | $0 | -$752.0K |
| Payment of debt issuance costs | $0 | $0 | -$241.0K |
| Issuance of common stock | $832.0K | $653.0K | $476.0K |
| Tax withholdings related to net share settlements of restricted stock units and awards | -$1.5M | -$854.0K | -$58.0K |
| Net cash provided (used) by financing activities | $12.0M | -$521.0K | -$13.4M |
| Effect of exchange rate changes on cash | $179.0K | -$30.0K | -$53.0K |
| Net (decrease) increase in cash and cash equivalents | -$15.0M | $4.6M | -$1.3M |
No quarter-by-quarter statement was filed.
Corporate structure
GRAHAM CORP sits at the top of its group. 6 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of GRAHAM CORP
- T. Rowe Price Investment Management, Inc. Filed SCHEDULE 13G on GRAHAM CORP, latest Aug 14, 2026
- BRANDES INVESTMENT PARTNERS, LP Filed SCHEDULE 13G/A on GRAHAM CORP, latest Aug 13, 2026 (8 filings since Feb 8, 2022)
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on GRAHAM CORP, latest Mar 27, 2026 (5 filings since Feb 10, 2022)
- BlackRock Filed SC 13G on GRAHAM CORP, latest Nov 8, 2024 (2 filings since Oct 22, 2024)
- ROYCE & ASSOCIATES LP Filed SC 13G/A on GRAHAM CORP, latest Oct 30, 2024 (4 filings since Jan 21, 2022)
- AMERICAN CENTURY INVESTMENT MANAGEMENT INC Filed SC 13G/A on GRAHAM CORP, latest Feb 8, 2023 (2 filings since Feb 4, 2022)
- ArrowMark Colorado Holdings LLC Filed SC 13G/A on GRAHAM CORP, latest Feb 14, 2022
- GRAHAM CORP Batavia, New York, United States
- Barber-Nichols, LLC Subsidiary · Colorado, United States
- FlackTek Manufacturing, LLC Subsidiary · Delaware, United States
- FlackTek Sales, LLC Subsidiary · Delaware, United States
- Graham Vacuum and Heat Transfer Technology (Suzhou) Co. Ltd. Subsidiary · China
- P3 Technologies, LLC Subsidiary · Florida, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What GRAHAM CORP reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $114.2M3 Mar 31, 2026 | $99.5M3 Mar 31, 2025 | +14.8% |
| Accumulated depreciation | $53.9M3 Mar 31, 2026 | $48.8M3 Mar 31, 2025 | +10.3% |
| Property and equipment, net | $60.3M3 Mar 31, 2026 | $50.6M3 Mar 31, 2025 | +19.1% |
| Operating-lease assets (leased space) | $6.7M3 Mar 31, 2026 | $6.4M3 Mar 31, 2025 | +5.5% |
Investments
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $38.1M3 Mar 31, 2026 | $25.5M3 Mar 31, 2025 | +49.2% |
| Finite-lived intangibles, gross | $46.5M3 Mar 31, 2026 | $33.0M3 Mar 31, 2025 | +40.8% |
| Accumulated amortization | $7.8M3 Mar 31, 2026 | $9.4M3 Mar 31, 2025 | −16.9% |
| Finite-lived intangibles, net | $38.7M3 Mar 31, 2026 | $23.6M3 Mar 31, 2025 | +63.6% |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $50.8M3 Mar 31, 2026 | $40.0M3 Mar 31, 2025 | +26.8% |
| Raw materials | $9.3M3 Mar 31, 2026 | $5.9M3 Mar 31, 2025 | +59.4% |
| Work in process | $39.7M3 Mar 31, 2026 | $32.6M3 Mar 31, 2025 | +21.8% |
| Finished goods | $1.7M3 Mar 31, 2026 | $1.6M3 Mar 31, 2025 | +9.1% |
Properties, in its own words
As of March 31, 2026, we conducted our business from the following locations.
Location · Products/Operations · Square Footage · Owned or Leased
The rest of Item 2
Batavia, NY · Corporate Headquarters · 43,000 · Owned
Batavia, NY · Manufacturing, Warehousing and R&D · 300,000 · Owned
Arvada, CO · Office · 18,000 · Leased
Arvada, CO · Manufacturing and Warehousing · 83,000 · Leased
Greenville, SC · Office and Warehousing · 12,000 · Leased
Houston, TX · Sales Office · 1,500 · Leased
Indiantown, FL · Cryogenic Test Facility · 8,800 · Owned
Jupiter, FL · Manufacturing and R&D · 16,900 · Leased
Louisville, CO · Manufacturing and Office · 24,000 · Leased
Suzhou, China · Sales and Engineering · 4,900 · Leased
Ahmedabad, India · Sales and Engineering · 800 · Leased
Pune, India · Sales and Engineering · 2,200 · Leased
We believe that our properties are generally in good condition, are well maintained, and are suitable and adequate to carry on our business. However, in order to support our future growth, we have initiated the following capital projects:
During fiscal 2024, we received a $13,500 strategic investment from a major Defense customer to expand and enhance our Batavia, NY production capabilities. This expansion included the construction of a new 30,000 square foot manufacturing facility on our existing campus and the purchase of production and automated welding equipment to be used in the facility. This facility was completed in fiscal 2026.
During fiscal 2025, we purchased a plot of land adjacent to the BN campus in order to support organic growth. We intend to construct an additional 30,000 square foot manufacturing facility on that site in fiscal 2027.
During fiscal 2025, we purchased land and began construction of a cryogenic (liquid hydrogen, oxygen, methane) testing facility near our P3 subsidiary. This facility enhances our capabilities and allows us to provide quality assurance testing for our customers. This facility was completed in fiscal 2026.
During fiscal 2025, we received a $2,200 strategic investment from a major Defense customer to support the implementation of new Radiographic Testing (“RT”) equipment at our Batavia, NY facility. We contributed an additional $1,400 towards this project for a total project cost of $3,600. This expansion is expected to be completed in the first quarter of fiscal 2027.
We believe we will be able to construct these facilities on commercially reasonable terms. We expect to spend between 7% to 10% of revenue on capital expenditures each year for the next several years in order to fund our future growth.
Item 2 of the 10-K filed Jun 8, 2026.6
Leadership
Who has led GRAHAM CORP, and when. Pick a name to see everywhere that person has worked.
Chief financial officer
Chief operating officer
2010201520202025
- Chief executive officerMatthew Malone Jun 11, 2025 to now17
- Chief executive officerDaniel J. Thoren Sep 2, 2021 to Jun 11, 202518
- Chief executive officerJames R. Lines Jun 2, 2008 to Apr 26, 202219
- ChairDaniel J. Thoren Jun 11, 2025 to now20
- PresidentMatthew Malone May 20, 2025 to now21
- PresidentDaniel J. Thoren Jun 2, 2021 to Sep 4, 202422
- PresidentJames R. Lines Jul 31, 2006 to May 20, 202123
- Chief financial officerChristopher J. Thome Apr 5, 2022 to now24
- Chief financial officerJeffrey Glajch Mar 4, 2009 to Apr 26, 202225
- Chief financial officerJ. Ronald Hansen Jun 5, 2006 to Jun 4, 200826
- Chief operating officerMatthew Malone May 20, 2025 to now21
- Chief operating officerDaniel J. Thoren Jun 2, 2021 to Jun 2, 202122
- Chief operating officerJames R. Lines Jul 31, 2006 to Nov 1, 200723
Board members and other officers (25)
- VP & GM of FlacktekMatthew Lee Gross Feb 11, 2026 to now27
- VP & GM Graham ManufacturingWilliam H. Zmyndak Apr 6, 2026 to now28
- Chief Growth & Enblmnt OfficerRichard Alan Scholes Aug 11, 2026 to now29
- VP & GM of Barber-NicholsMatthew Malone Jun 2, 2021 to Jun 6, 202430
- Vice President of SalesRobert A. Platt Oct 31, 2011 to Jun 1, 201231
- CAO and ControllerJennifer R. Condame Aug 4, 2008 to Jun 10, 202232
- VP and General ManagerJames R. Lines Jun 5, 2006 to Jun 5, 200633
- VP of Asia OperationsStephen P. Northrup Jun 5, 2006 to Jun 5, 200634
- Board memberMatthew Malone May 18, 2026 to now35
- Board memberMauro Gregorio Sep 3, 2025 to now36
- Board memberCari L. Jaroslawsky Mar 24, 2022 to now37
- Board memberTroy A. Stoner Mar 24, 2022 to now38
- Board memberDaniel J. Thoren May 24, 2022 to now39
- Board memberJonathan W. Painter Aug 4, 2014 to now40
- Board memberLisa M. Schnorr Aug 4, 2014 to now41
- Board memberJames J. Barber Aug 1, 2011 to now42
- Board memberAlan Fortier Aug 4, 2008 to Jun 6, 202443
- Board memberGerard T. Mazurkiewicz Aug 24, 2007 to Jun 2, 202144
- Board memberJames R. Lines Nov 1, 2007 to Apr 26, 202245
- Board memberH. Russel Lemcke Feb 10, 2006 to Jun 9, 200846
- Board memberHelen H. Berkeley Jun 5, 2006 to Jun 2, 201447
- Board memberJames J. Malvaso Jun 5, 2006 to Jun 2, 202148
- Board memberJerald D. Bidlack Jun 5, 2006 to Feb 5, 201549
- Board memberRees Cornelius S. Van Jun 5, 2006 to May 27, 201150
- Board memberWilliam C. Denninger Jun 5, 2006 to Jun 12, 200751
Named in SEC Form D filings
People the company listed in its private-offering notices.
- Executive OfficerMike A. Dixon named Apr 24, 202652
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Barber-Nichols, LLC Colorado, USA5
- FlackTek Manufacturing, LLC Delaware, USA5
- FlackTek Sales, LLC Delaware, USA5
- Graham Vacuum and Heat Transfer Technology (Suzhou) Co. Ltd. People's Republic of China5
- P3 Technologies, LLC Florida, USA5
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Aug 27, 20268-K Shareholder vote53
- Aug 6, 20268-K Results of operations; Regulation FD disclosure54
- Jun 18, 20268-K Regulation FD disclosure55
- Jun 17, 20268-K Executive or director change; Regulation FD disclosure56
- Jun 8, 20268-K Results of operations; Regulation FD disclosure57
- Jun 5, 20268-K Executive or director change58
- Apr 15, 20268-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure59
- Mar 30, 20268-K Executive or director change60
- Feb 17, 20268-K Executive or director change; Regulation FD disclosure61
- Feb 6, 20268-K Results of operations; Regulation FD disclosure62
- Jan 26, 20268-K Entered a material agreement; Regulation FD disclosure63
- Nov 10, 20258-K Executive or director change64
- Jun 11, 2025New chief executive Matthew Malone becomes CEO17
- Sep 2, 2021New chief executive Daniel J. Thoren becomes CEO18
- Jun 2, 2008New chief executive James R. Lines becomes CEO19
- Mar 7, 1983Founded GRAHAM CORP is founded2
Calendar
Coming up
- Nov 6, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.31 a share, on Nov 7, 2025.65
When it reported results
- Aug 6, 2026Reported quarterly or annual results54
- Jun 8, 2026Reported quarterly or annual results57
- Feb 6, 2026Reported quarterly or annual results62
- Nov 7, 2025Reported quarterly or annual results66
- Aug 5, 2025Reported quarterly or annual results67
- Jun 9, 2025Reported quarterly or annual results68
- Feb 7, 2025Reported quarterly or annual results69
- Nov 8, 2024Reported quarterly or annual results70
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
285 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 53 major events, 142 insider forms, 23 large holders, 1 private raises, 45 other. The latest 20:
- Sep 21, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Sep 21, 20264/A AMENDED STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Sep 3, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Aug 27, 20268-K EDGAR
- Aug 14, 2026144/A EDGAR
- Aug 14, 2026SCHEDULE 13G EDGAR
- Aug 13, 2026144 EDGAR
- Aug 13, 2026SCHEDULE 13G/A EDGAR
- Aug 11, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Aug 11, 20263 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Aug 6, 202610-Q EDGAR
- Aug 6, 20268-K EDGAR
- Jul 14, 2026ARS EDGAR
- Jul 14, 2026DEFA14A EDGAR
- Jul 14, 2026DEF 14A EDGAR
- Jul 6, 2026144 EDGAR
- Jun 23, 2026144 EDGAR
- Jun 18, 202611-K EDGAR
- Jun 18, 20268-K EDGAR
- Jun 17, 20268-K EDGAR
The 285 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
14 open-market trades by officers, directors and large owners since October 2021: 11 buys and 3 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 12, 2025 | Gregorio MauroDirector | Buy | 1,200 | $49.01 | $58.8K | Form 4 |
| Sep 12, 2025 | Gregorio MauroDirector | Buy | 1,200 | $49.01 | $58.8K | Form 4 |
| Feb 21, 2023 | Smith Alan EVP & General Manager - Batavia | Buy | 4,000 | $13.53 | $54.1K | Form 4 |
| Aug 4, 2022 | Thoren Daniel J.Executive Chairman | Buy | 7,500 | $7.83 | $58.7K | Form 4 |
| Aug 2, 2022 | Thoren Daniel J.Executive Chairman | Buy | 5,000 | $7.20 | $36.0K | Form 4 |
| Mar 9, 2022 | Glajch JeffreyVP-Finance; CFO | Sale | 7,876 | $8.13 | $64.0K | Form 4 |
| Mar 8, 2022 | Glajch JeffreyVP-Finance; CFO | Sale | 2,124 | $8.13 | $17.3K | Form 4 |
| Feb 22, 2022 | Thoren Daniel J.Executive Chairman | Buy | 12,500 | $7.90 | $98.8K | Form 4 |
| Feb 11, 2022 | Barber James JDirector | Buy | 6,600 | $9.20 | $60.7K | Form 4 |
| Feb 10, 2022 | Smith Alan EVP & General Manager - Batavia | Buy | 8,000 | $9.10 | $72.8K | Form 4 |
| Feb 10, 2022 | PAINTER JONATHAN WDirector | Buy | 2,500 | $9.08 | $22.7K | Form 4 |
| Feb 10, 2022 | Fortier AlanDirector | Buy | 6,000 | $9.19 | $55.1K | Form 4 |
| Feb 10, 2022 | Schnorr Lisa M.Director | Buy | 5,000 | $9.10 | $45.5K | Form 4 |
| Dec 8, 2021 | Glajch JeffreyVP-Finance; CFO | Sale | 2,893 | $12.75 | $36.9K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- T. Rowe Price Investment Management, Inc.SCHEDULE 13G, 1 filing Aug 14, 202671
- BRANDES INVESTMENT PARTNERS, LPSCHEDULE 13G/A, 8 filings Feb 8, 2022 to Aug 13, 202672
- VANGUARD GROUP INCSCHEDULE 13G/A, 5 filings Feb 10, 2022 to Mar 27, 202673
- BlackRockSC 13G, 2 filings Oct 22, 2024 to Nov 8, 202474
- ROYCE & ASSOCIATES LPSC 13G/A, 4 filings Jan 21, 2022 to Oct 30, 202475
- AMERICAN CENTURY INVESTMENT MANAGEMENT INCSC 13G/A, 2 filings Feb 4, 2022 to Feb 8, 202376
- ArrowMark Colorado Holdings LLCSC 13G/A, 1 filing Feb 14, 202277
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2026 | Matthew J. Malone | 40 | $462.8K | $1.8M78 |
| 2026 | Christopher J. Thome | $370.8K | $884.4K78 | |
| 2026 | Alan E. Smith | $339.9K | $777.6K78 | |
| 2026 | Michael E. Dixon | $290.6K | $697.3K78 | |
| 2026 | Daniel J. Thoren | $304.6K | $679.8K78 | |
| 2025 | Executive ChairmanFormer CEO | $500.0K | $1.9M78 | |
| 2025 | VP - Finance, CFO, CAO andCorporate Secretary | $360.0K | $842.6K78 | |
| 2025 | President & CEO, Former VP andGM - Barber-Nichols | $341.7K | $828.0K78 | |
| 2025 | Former VP and General Manager -Graham Manufacturing | $330.0K | $812.4K78 |
Funding
Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.
- Private raises (Form D) $50.0M
Figures by year
| Year | Private raises (Form D) | Total |
|---|---|---|
| 2026 | $50.0M | $50.0M |
Private raises
Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How GRAHAM CORP is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARGRAHAM CORP1
- CIK0000716314
- Employer ID (EIN)16-11947206
- Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company6
- Incorporated inDelaware6
- Fiscal year endsMarch 311
- Industry code (SIC)3560 General Industrial Machinery & Equipment1
- SEC reviewing officeOffice of Technology, Division of Corporation Finance1
- Business address20 Florence Ave, Batavia, NY 140201
- Mailing address20 Florence Avenue, Batavia, NY 140201
- Phone58534322161
- Shares outstanding11,737,033 as of Aug 4, 202614
- Public float$568.7M as of Sep 30, 20256
- AuditorDeloitte & Touche LLP, Rochester, New York PCAOB ID 34; it also attests to the company’s internal control over financial reporting6
- On EDGAR sinceFeb 14, 19941
- Filings1,207 in all: 4 (535), 8-K (227), 10-Q (94), SC 13G/A (77), SC 13G (34), DEF 14A (32), 10-K (27), 3 (23)1
All 40 form types
11-K (16), DEFA14A (15), UPLOAD (15), 5 (14), ARS (13), SD (13), CORRESP (9), S-8 (9), 4/A (8), 8-K/A (5), SCHEDULE 13G/A (5), 10-K405 (4), SC 13D/A (4), 10-K/A (3), 144 (3), S-3 (3), 424B3 (2), EFFECT (2), S-2 (2), 144/A (1), 25 (1), 8-A12B (1), 8-A12G (1), CERTNYS (1), D (1), NTN 10Q (1), POS AM (1), PRE 14A (1), S-2/A (1), S-8 POS (1), SC 13D (1), SCHEDULE 13G (1)
- Latest filingsAnnual report (10-K) Jun 8, 2026
Quarterly report (10-Q) Aug 6, 2026
Proxy statement (DEF 14A) Jul 14, 2026
Latest 8-K (8-K) Aug 27, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, Par Value $0.10 Per Share | GHM | NYSE |
From the cover page of the 10-K filed Jun 8, 2026 (Section 12(b) of the Exchange Act).6
Risk factors and legal proceedings
The risks GRAHAM CORP names in Item 1A of its 10-K filed Jun 8, 2026: 51 risks under these headings, as written.6
- Risks Related to our Business
- We may experience customer concentration risk related to strategic growth for U.S. Navy projects.
- The loss of, or significant reduction or delay in, purchases by our largest customers could reduce our revenue and adversely affect our results of operations.
- The size of our contracts with the Defense industry, primarily the U.S. Navy, may produce volatility in short term financial results.
- Efforts to reduce large U.S. federal budget deficits could result in government cutbacks or shifts in focus in Defense spending or in reduced incentives to pursue alternative energy projects, resulting in reduced demand for our products, which could harm our business and results of operations.
- Defense orders are subject to annual government funding. A disruption in funding or a lapse in funding could materially and adversely impact our business.
- Our efforts to expand our Defense business and changes in the competitive environment for Defense procurement could materially and adversely impact our ability to grow this portion of our business.
- Contract liabilities for large Defense contracts may be beyond our normal insurance coverage and a claim could have an adverse impact on our financial results.
- New technology used by the ships for the U.S. Navy may delay projects and may impact our ability to grow this portion of our business.
- Our exposure to fixed-price contracts and the timely completion of such contracts could negatively impact our results of operations.
- Zero defect and other unfavorable provisions in government contracts, some of which are customary, may subject our business to material limitations, restrictions and uncertainties and may have a material adverse impact on our financial condition and operating results.
- Government contracts are subject to extensive regulation and failure to comply with such regulations may have a material adverse impact on our financial condition and operating results.
The other 40 risks
- Failure to comply with export, import, and sanctions laws and regulations could materially and adversely affect us.
- We may become subject to various investigations, enforcement or other regulatory actions, and other legal proceedings that could ultimately be resolved against us and could have a material adverse effect on our financial position, results of operations and/or cash flows.
- If we fail to successfully integrate the operations of FlackTek, our financial condition and results of operations could be adversely affected.
- Our acquisition of FlackTek might subject us to unknown and unforeseen liabilities.
- The success of our acquisition of FlackTek is dependent on the commercial performance of the MEGA™ product platform, and failure of the MEGA™ platform to achieve anticipated market acceptance could materially adversely affect our business, financial condition and results of operations.
- Rapid technological developments within the bladeless mixer industry may render our products less competitive or obsolete, which could materially adversely affect our business, financial condition and results of operations.
- The Energy markets we serve include the petroleum refining and petrochemical industries. These industries are both highly cyclical in nature and dependent on the prices of crude oil and natural gas. As a result, volatility in the prices of oil and natural gas may negatively impact our operating results.
- The relative costs of oil, natural gas, nuclear power, hydropower and numerous forms of alternative energy production, and transitions in consumer demand toward different types of energy, may have a material and adverse impact on our business and operating results.
- Climate change and greenhouse gas regulations may affect our customers’ investment decisions.
- Our reputation, ability to do business, and financial results may be materially and adversely impacted by improper conduct by any of our employees, agents or business partners.
- Some of our large international customers are nationalized or state-owned businesses. Any failure to comply with the FCPA could adversely impact our competitive position and subject us to penalties and other adverse consequences, which could harm our business and results of operations.
- Our business is highly competitive. If we are unable to successfully implement our business strategy and compete against entities with greater resources than we have or against competitors who have a relative cost advantage, we risk losing market share to current and future competitors.
- Customer focus on short-term costs versus prioritizing quality and brand recognition, could harm our business and negatively impact our financial results.
- A change in the structure of our markets, including through consolidation, could harm our business and negatively impact our financial results.
- Our acquisition strategy may not be successful or may increase business risk.
- We have foreign operations and a percentage of our sales occur outside of the U.S. As a result, we are subject to the economic, political, regulatory and other risks of international operations.
- We are subject to foreign currency fluctuations which may adversely affect our operating results.
- Our future success may be affected by indebtedness.
- The impact of potential changes in customs and trade policies and tariffs imposed by the U.S. and those imposed in response by other countries, including China, as well as rapidly changing trade relations, could materially and adversely affect our business and results of operations.
- The operations of our subsidiary in China may be adversely affected by China’s evolving economic, political and social conditions.
- Intellectual property rights are difficult to enforce in China and India, which could harm our business.
- Uncertainties with respect to the legal system in China may adversely affect the operations of our subsidiary in that country.
- Regulation of foreign investment in India may adversely affect the operations of our Indian subsidiary.
- Changes in U.S. and foreign energy policy regulations could adversely affect our business.
- Near-term income statement impact from competitive contracts could adversely affect our operating results.
- Our operating results could be adversely affected by customer contract cancellations and delays.
- Our customers’ ability and willingness to make progress payments may be impacted by any extended downturn in their markets which could adversely impact their financial stability and increase the risk to us of uncollectible accounts receivables.
- We may experience losses if we are unable to collect on our accounts receivables if our customers are unable or unwilling to pay their invoices in a timely manner or at all.
- Given our size and the specialization of our business, if we lose any member of our management, technical or sales team and we experience difficulty in finding a qualified replacement, our business could be harmed.
- If we become subject to product liability, warranty or other claims, our results of operations and financial condition could be adversely affected.
- Security threats and other sophisticated computer intrusions could harm our information systems, which in turn could harm our business and financial results.
- If third parties infringe upon our intellectual property or if we were to infringe upon the intellectual property of third parties, we may expend significant resources enforcing or defending our rights or suffer competitive injury.
- Our enterprise resource planning system utilized at our facilities in Batavia, NY is aging, and we may experience issues from implementation of a new enterprise resource planning system.
- Our growth is contingent upon expanding our manufacturing facilities in Arvada, CO, Batavia, NY and Louisville, CO. If we are unable to expand our manufacturing facilities in Arvada, Batavia or Louisville our results of operations and financial condition may be adversely affected and/or we may not be able to meet our growth goals and objectives.
- We face potential liability from asbestos exposure and similar claims that could result in substantial costs to us as well as divert attention of our management, which could have a material adverse effect on our business and results of operations.
- Provisions contained in our certificate of incorporation and bylaws could impair or delay stockholders' ability to change our management and Board of Directors, and could discourage takeover transactions that some stockholders might consider to be in their best interests.
- Risks Related to the Impacts of Macroeconomic Events
- Disruptions or delays in our supply chains could adversely affect our results of operations and financial performance.
- Macroeconomic impacts, including rising inflation, a slowdown in the economy, or a recession or expectation of a recession, may result in increased costs of operations and negatively impact the credit and securities markets generally, which could have a material adverse effect on our results of operations and the market price of our common stock.
- Our business, financial condition and results of operations in the past have been and may in the future be adversely affected by public health issues.
- We rely on the performance of highly skilled personnel, including our engineers, production, and technology professionals and increasing competition for such personnel, as well as labor shortages, could adversely affect our business.
Legal proceedings
The information required by this Item 3 is contained in Note 17 to our consolidated financial statements included in Item 8 of Part II of this Annual Report on Form 10-K and is incorporated herein by reference.
The opening of Item 3, Legal Proceedings.6
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARGRAHAM CORP filings on SEC EDGAR
- 2
- 3SEC EDGARGRAHAM CORP 10-K for fiscal 2026
- 4SEC EDGARGRAHAM CORP filings on SEC EDGAR
- 5
- 6
- 7SEC EDGARGRAHAM CORP 10-K for fiscal 2019
- 8SEC EDGARGRAHAM CORP 10-K for fiscal 2020
- 9SEC EDGARGRAHAM CORP 10-K for fiscal 2021
- 10SEC EDGARGRAHAM CORP 10-K for fiscal 2022
- 11SEC EDGARGRAHAM CORP 10-K for fiscal 2023
- 12SEC EDGARGRAHAM CORP 10-Q for fiscal 2025
- 13SEC EDGARGRAHAM CORP 10-Q for fiscal 2025
- 14SEC EDGARGRAHAM CORP 10-Q for fiscal 2026
- 15SEC EDGARGRAHAM CORP 10-K for fiscal 2019
- 16SEC EDGARGRAHAM CORP 10-K for fiscal 2019
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- 20SEC EDGARDaniel J. Thoren, Chair
- 21SEC EDGARMatthew Malone, President
- 22SEC EDGARDaniel J. Thoren, President
- 23SEC EDGARJames R. Lines, President
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- 35SEC EDGARMatthew Malone, Board member
- 36SEC EDGARMauro Gregorio, Board member
- 37SEC EDGARCari L. Jaroslawsky, Board member
- 38SEC EDGARTroy A. Stoner, Board member
- 39SEC EDGARDaniel J. Thoren, Board member
- 40SEC EDGARJonathan W. Painter, Board member
- 41SEC EDGARLisa M. Schnorr, Board member
- 42SEC EDGARJames J. Barber, Board member
- 43SEC EDGARAlan Fortier, Board member
- 44SEC EDGARGerard T. Mazurkiewicz, Board member
- 45SEC EDGARJames R. Lines, Board member
- 46SEC EDGARH. Russel Lemcke, Board member
- 47SEC EDGARHelen H. Berkeley, Board member
- 48SEC EDGARJames J. Malvaso, Board member
- 49SEC EDGARJerald D. Bidlack, Board member
- 50SEC EDGARRees Cornelius S. Van, Board member
- 51SEC EDGARWilliam C. Denninger, Board member
- 52
- 53SEC EDGARShareholder vote
- 54
- 55SEC EDGARRegulation FD disclosure
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- 58SEC EDGARExecutive or director change
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- 60SEC EDGARExecutive or director change
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- 64SEC EDGARExecutive or director change
- 65NasdaqNasdaq calendar
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- 74SEC EDGARBlackRock SC 13G on GRAHAM CORP
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