How did Graham (NYSE:GHM) perform in Q4 and FY26?

Graham reported Q4 revenue of $67.1 million, up 13% year-over-year, and full-year revenue of $245.3 million, a 17% increase, marking record annual sales. Adjusted net income per share rose 13% to $1.40, while adjusted EBITDA reached $26 million, reflecting strong operational growth.

What drove Graham’s revenue growth in FY26?

Revenue growth was fueled by robust new orders totaling $359 million and a record backlog of $532.6 million, highlighting strong demand for Graham’s fluid, power, heat transfer, and vacuum systems in naval defense and emerging space markets.

How profitable is Graham now?

For FY26, GAAP net income per diluted share was $1.12, and adjusted EPS rose to $1.40, showing solid margin expansion alongside the record top-line growth.

What is Graham’s backlog and why does it matter?

The company’s backlog hit $532.6 million, up 29% year-over-year, providing multi-year revenue visibility. This reflects strong customer demand and a book-to-bill ratio of 1.5x, indicating more new orders than shipments.

How did the acquisition of FlackTek impact Graham?

Graham’s acquisition of FlackTek™ added advanced mixing and materials processing capabilities, creating a third core technology platform and diversifying its operations across all end markets, strengthening its competitive position.

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Graham hits record revenue as defense and space demand surge

Written by Liezl GambePublished Jun. 8 2026Last Updated Jun. 8 2026

Graham (NYSE:GHM) announced its financial results for the fourth quarter and full fiscal year ended March 31, 2026, marking a period of record-setting performance for the Batavia, New York-based manufacturer.

The company, which specializes in mission-critical technologies for the Defense, Energy & Process, and Space industries, reported double-digit growth in both top-line revenue and profitability metrics.

For the fourth quarter, Graham recorded revenue of $67.1 million, a 13% increase compared to the prior-year period.

This momentum carried through the full fiscal year, with annual revenue climbing 17% to a record $245.3 million.

The company’s bottom-line performance also showed meaningful improvement, with fiscal 2026 net income per diluted share reaching $1.12.

On an adjusted basis, fiscal 2026 net income per diluted share rose 13% to $1.40, while adjusted EBITDA increased 16% to $26 million for the year.

A central driver of the company’s strong results was its record backlog of $532.6 million, which expanded 29% year-over-year.

This growth was fueled by a robust performance in new orders, which reached $359 million for the fiscal year, reflecting a book-to-bill ratio of 1.5x.

Management highlighted that this strong order intake underscores the sustained demand for Graham’s specialized fluid, power, heat transfer, and vacuum systems, particularly within the naval defense and emerging space sectors.

During the fiscal year, Graham significantly expanded its technological footprint through the completed acquisition of FlackTek™.

By integrating FlackTek’s advanced mixing and materials processing expertise, the company has established a third core technology platform, diversifying its capabilities and deepening its reach across all primary end markets.