Graham Corp. (NYSE: GHM) is a specialized engineering and manufacturing company that produces mission-critical fluid, power, heat transfer, and vacuum technologies. The company's core product portfolio includes custom-engineered ejectors, vacuum pumping systems, surface condensers, cryogenic pumps, and advanced turbomachinery. Historically focused on the cyclical energy and petrochemical markets, Graham has strategically diversified its business model to heavily serve the aerospace and defense sectors. In fiscal 2026, sales to the defense industry—driven largely by U.S. Navy programs for nuclear and non-nuclear propulsion, power, and thermal management systems—accounted for approximately 60% of total revenue. The energy and process markets represented about 34% of sales, with the remainder coming from the commercial space industry, where Graham supplies critical life-support components and rocket propulsion systems. The company operates primarily out of its manufacturing facilities in Batavia, New York, and through its Barber-Nichols subsidiary in Colorado, which specializes in high-performance turbomachinery. Graham's competitive position is supported by its long-standing relationships with the U.S. Department of Defense, its specialized engineering expertise, and a robust backlog of defense and space orders.
