GHM vs. IESC

Last updated Jun 4, 2026

GHM (Graham Corporation) and IESC (IES Holdings, Inc.) are both stocks. Both are in the Industrials sector — GHM in Specialty Industrial Machinery, IESC in Engineering & Construction. Over the past 10 years, GHM returned 20.45%/yr vs 47.29%/yr for IESC. At a 0.20 correlation, their price movements are largely independent.

Performance

GHM vs. IESC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Graham Corporation (GHM) and IES Holdings, Inc. (IESC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GHM achieves a 61.72% return, which is significantly lower than IESC's 86.22% return. Over the past 10 years, GHM has underperformed IESC with an annualized return of 20.45%, while IESC has yielded a comparatively higher 47.29% annualized return.

GHM

• 1D: -2.11%
• 1M: 10.88%
• YTD: 61.72%
• 6M: 81.27%
• 1Y: 153.96%
• 3Y*: 109.11%
• 5Y*: 48.61%
• 10Y*: 20.45%

IESC

• 1D: 2.77%
• 1M: 15.65%
• YTD: 86.22%
• 6M: 72.76%
• 1Y: 166.54%
• 3Y*: 142.30%
• 5Y*: 67.69%
• 10Y*: 47.29%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GHM vs. IESC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GHM Graham Corporation	61.72%	44.43%	134.42%	97.19%	-22.67%	-15.50%	-28.39%	-2.28%	10.81%	-3.80%
IESC IES Holdings, Inc.	86.22%	93.58%	153.67%	122.72%	-29.76%	9.99%	79.42%	65.02%	-9.86%	-9.92%

Correlation

The correlation between GHM and IESC is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Jan 29, 1998	0.20

Over the past year, GHM and IESC have become more correlated (0.53) than their long-term average of 0.20, meaning their price movements have been converging.

Fundamentals

Market Cap GHM : $1.16B IESC : $14.62B
EPS GHM : $1.34 IESC : $18.85
PE Ratio GHM : 77.31 IESC : 38.43
PEG Ratio GHM : 1.51 IESC : 0.46
PS Ratio GHM : 4.86 IESC : 4.02
PB Ratio GHM : 8.83 IESC : 13.63
Total Revenue (TTM) GHM : $237.56M IESC : $3.63B
Gross Profit (TTM) GHM : $58.50M IESC : $931.31M
EBITDA (TTM) GHM : $19.22M IESC : $487.14M

Return for Risk

GHM vs. IESC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GHM

GHM Risk / Return Rank: 93
GHM Sharpe Ratio Rank: 94
GHM Sortino Ratio Rank: 89
GHM Omega Ratio Rank: 89
GHM Calmar Ratio Rank: 96
GHM Martin Ratio Rank: 95

IESC

IESC Risk / Return Rank: 91
IESC Sharpe Ratio Rank: 93
IESC Sortino Ratio Rank: 86
IESC Omega Ratio Rank: 87
IESC Calmar Ratio Rank: 95
IESC Martin Ratio Rank: 96

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GHM vs. IESC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Graham Corporation (GHM) and IES Holdings, Inc. (IESC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	GHM	IESC	Difference
Sharpe ratio: Return per unit of total volatility	3.06	2.71	+0.35
Sortino ratio: Return per unit of downside risk	3.17	2.88	+0.29
Omega ratio: Gain probability vs. loss probability	1.42	1.39	+0.02
Calmar ratio: Return relative to maximum drawdown	8.51	7.69	+0.82
Martin ratio: Return relative to average drawdown	20.90	21.83	-0.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GHM vs. IESC - Sharpe Ratio Comparison

The current GHM Sharpe Ratio is 3.06, which is comparable to the IESC Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of GHM and IESC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GHM	IESC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.06	2.71	+0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.00	1.26	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.99	-0.53
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.05	+0.19

Drawdowns

GHM vs. IESC - Drawdown Comparison

The maximum GHM drawdown since its inception was -86.11%, smaller than the maximum IESC drawdown of -98.32%. Use the drawdown chart below to compare losses from any high point for GHM and IESC.

Drawdown Indicators

	GHM	IESC	Difference
Max Drawdown Largest peak-to-trough decline	-86.11%	-98.32%	+12.21%
Max Drawdown (1Y) Largest decline over 1 year	-18.21%	-21.80%	+3.59%
Max Drawdown (3Y) Largest decline over 3 years	-46.46%	-49.23%	+2.77%
Max Drawdown (5Y) Largest decline over 5 years	-54.28%	-54.28%	0.00%
Max Drawdown (10Y) Largest decline over 10 years	-74.83%	-54.28%	-20.55%
Current Drawdown Current decline from peak	-2.11%	0.00%	-2.11%
Average Drawdown Average peak-to-trough decline	-47.41%	-55.03%	+7.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.40%	7.66%	-0.26%

Volatility

GHM vs. IESC - Volatility Comparison

Graham Corporation (GHM) has a higher volatility of 12.92% compared to IES Holdings, Inc. (IESC) at 12.25%. This indicates that GHM's price experiences larger fluctuations and is considered to be riskier than IESC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GHM	IESC	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.92%	12.25%	+0.67%
Volatility (6M) Calculated over the trailing 6-month period	36.59%	49.68%	-13.09%
Volatility (1Y) Calculated over the trailing 1-year period	50.73%	61.92%	-11.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.94%	53.91%	-4.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.98%	48.10%	-3.12%

Dividends

GHM vs. IESC - Dividend Comparison

Neither GHM nor IESC has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GHM Graham Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	3.54%	2.90%	1.92%	1.66%	1.72%	1.63%	1.90%
IESC IES Holdings, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

GHM vs. IESC - Profitability Comparison

The chart below illustrates the profitability comparison between Graham Corporation and IES Holdings, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

GHM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Graham Corporation reported a gross profit of 13.47M and revenue of 56.70M. Therefore, the gross margin over that period was 23.8%.

IESC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, IES Holdings, Inc. reported a gross profit of 238.70M and revenue of 974.20M. Therefore, the gross margin over that period was 24.5%.

GHM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Graham Corporation reported an operating income of -219.00K and revenue of 56.70M, resulting in an operating margin of -0.4%.

IESC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, IES Holdings, Inc. reported an operating income of 112.30M and revenue of 974.20M, resulting in an operating margin of 11.5%.

GHM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Graham Corporation reported a net income of 2.85M and revenue of 56.70M, resulting in a net margin of 5.0%.

IESC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, IES Holdings, Inc. reported a net income of 110.00M and revenue of 974.20M, resulting in a net margin of 11.3%.

Frequently Asked Questions

Can I hold both GHM and IESC in my portfolio?

GHM and IESC have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GHM or IESC?

GHM has higher volatility (12.92%) compared to IESC (12.25%). In terms of maximum drawdown, GHM dropped -86.11% vs IESC's -98.32%.

Which has better risk-adjusted returns?

GHM currently has the higher Sharpe Ratio (3.06 vs 2.71), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.