SPX Technologies Inc supplies engineered heating, ventilation, and air conditioning, or HVAC, products, as well as detection and measurement technologies and power equipment. The company operates through two reportable segments.
It is a $8.49B industrial company. Revenue grew 20.6% over the last year, it keeps 11¢ of every dollar of sales as profit, and its net debt equals ~0.4 years of free cash flow. It trades at 30.4× earnings — in the cheapest third of its own history.
- Website
- spx.com
- Location
- Charlotte, NC
- Employees
- 4 700
- Sector
- Industrials
- Founded
- 2015
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong quality; Moat lags behind.
Valuation64
- P/E vs own history21th pct · 20/25
- FCF yield3.6% · 12/25
- P/S3.4x · 20/25
- EV/EBITDA18.2x · 12/25
Growth65
- Revenue CAGR16.7% · 20/25
- Net income CAGR-13.0% · 0/25
- EPS CAGR ~5Y18.8% · 20/25
- Fwd implied growth50.0% · 25/25
Profitability64
- ROIC10.3% · 12/25
- ROE12.4% · 12/25
- Net margin11.3% · 20/25
- Operating margin16.1% · 20/25
Health56
- Altman Zn/a · 0/25
- Current ratio1.82 · 18/25
- Interest coverage8.3x · 18/25
- Net cash / debtD/A 4% · 20/25
Quality84
- Piotroski F7/9 · 22/25
- Beneish M-2.12 · 12/25
- FCF conversion109% · 25/25
- Margin stabilityσ 4.5% · 25/25
Moat36
- ROIC >12% years1/10 yrs · 0/25
- Median gross margin33.1% · 13/25
- FCF-positive years8/10 yrs · 18/25
- Worst-year net marginworst -4.6% · 5/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- 2022AcquisitionTSPX Flow was acquired by Lone Star Funds for $3.8 billion in 2022
- FY2021FinancialBecame debt-freecash now exceeds total debt
- FY2021FinancialBest year on record$425M net income
- 2020AcquisitionSensors & Software Inc. was also acquired by SPX in November 2020
- 2019AcquisitionThe corporation acquired SGS Refrigeration Inc., a manufacturer and supplier of industrial refrigeration…
- 2018AcquisitionAfter splitting from SPX Flow, SPX acquired both CUES Inc., a pipeline inspection manufacturer
- FY2017FinancialTurned profitable$89.3M net income after a loss year
- FY2016FinancialRevenue already above $1B$1.47B in first reported year
- 2015FoundedSPX Flow was founded, a spin-off from its parent company
- 2001AcquisitionUnited Dominion Industries Limited, a manufacturer of engineered products, was acquired in 2001
- 1998AcquisitionGeneral Signal Corporation was acquired for $2.3 billion, specializing in production of process control,…
- 1988MilestoneThe company changed its name to SPX Corporation
- 1982AcquisitionThe company acquired Kent-Moore Corporation in 1982
- 1931MilestoneThe company changed its name to Sealed Power Corporation and also…
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (40.6%)
- Revenue growing 20.6% year over year
- Interest covered 8.3× by operating earnings
- Piotroski F-Score 7/9 — fundamentally strong checklist
Watch-outs
- Loss-making in 1 of the recent years
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+20.6% YoY
- Profitable — makes more than it spends$279M TTM
- Profit growing — earnings are higher than last year+953.6% YoY
- Generates cash — cash left after running and investing$303M TTM
- Debt under control — could handle its obligations~0.4y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$8.49B market cap
- Not printing shares — share count not ballooning — you keep your slice+6.0% shares over ~5y
- Proven track record — years of profitability behind it9/10 profitable years
- Financially stable — balance sheet not near distresshealth score 36/100
- Pays a dividend — returns cash to shareholdersno data
- Valuation not extreme — price not wildly above earningsP/E 30.4
Peer comparisonSPX Technologies, Inc. vs 6 largest industrials peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| SPXC this company | $8.5B | 30.4 | +20.6% | 11.3% | Mixed |
| LRCX Lam Research Corp | $399.2B | 54.9 | +26.0% | 31.3% | Strong |
| CAT Caterpillar Inc. | $368.0B | 33.9 | +18.4% | 14.5% | Solid |
| RTX RTX Corporation | $251.3B | 32.4 | +11.8% | 8.3% | Strained |
| DE Deere & Company | $167.7B | 34.4 | +8.3% | 10.2% | Solid |
| ETN Eaton Corporation, plc | $167.2B | 43.6 | +15.5% | 12.8% | Mixed |
| UNP Union Pacific Corp. | $166.8B | 22.6 | +4.2% | 28.8% | Strained |
Head-to-head: SPXC vs LRCX · SPXC vs CAT · SPXC vs RTX
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/SPXC
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of SPXC on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $169.46 · market cap $8.49B.