GRAHAM CORP has recently released its 10-K report. The company designs and manufactures fluid, power, heat transfer, vacuum, and advanced mixing technologies for defense, energy and process, and space customers. Its products include ejectors, condensers, pumps, turbines, compressors, blowers, turbopumps, thermal management systems, and bladeless centrifugal mixers, along with spare parts and related services.
In Item 1, Graham said its business is centered on mission-critical equipment for Defense, Energy & Process, and Space applications, with products used in propulsion, power, thermal management, fluid transfer, vacuum, and mixing systems. The company said its Defense business supports nuclear and non-nuclear propulsion, torpedo ejection, and fleet sustainment, while its Energy & Process business serves refining, petrochemical, fertilizer, hydrogen, geothermal, and other industrial applications. Its Space business covers rocket propulsion, cooling, and life support systems.
Graham said its corporate headquarters and production facilities are in Batavia, New York, with wholly owned subsidiaries in Arvada, Colorado; Greenville, South Carolina; Jupiter, Florida; and Louisville, Colorado, plus sales and engineering offices in Houston, Suzhou, Ahmedabad, and Pune. The company said it was incorporated in Delaware in 1983 and is the successor to a New York company founded in 1936. Its stock trades on the NYSE under the symbol GHM, and its fiscal year ends March 31.
The company completed two acquisitions during the year: Xdot Bearing Technologies on October 20, 2025, and FlackTek Manufacturing and FlackTek Sales on January 23, 2026. Graham said Xdot’s foil bearing technology has been integrated into Barber-Nichols, while FlackTek adds advanced mixing and material processing systems with customers in defense, energetics, oil and gas, food, battery, aerospace, space, medical, and industrial markets.
Graham said two customers each accounted for more than 10% of fiscal 2026 revenue. Domestic sales were about 85% of total sales, and Defense accounted for 60% of sales. Funded and unfunded backlog at March 31, 2026 was $532.6 million, up from $412.3 million a year earlier.
The company described its competitive position around engineering sales support, custom order management, flexible production, outsourced fabrication, technical support, a long-tenured workforce, and tight-tolerance manufacturing. It said its strategy is to build a more diversified business around niche applications with higher margins, while supplementing organic growth with acquisitions. As a result of these announcements, the company's shares have moved -8.79% on the market, and are now trading at a price of $97.69. For more information, read the company's full 10-K submission here.
