SPXCNYSEMetalworkg Machinery & EquipmentFiscal year ends December 31
SPX Technologies, Inc.
Financials through Q2 FY2026, quarter ended Jun 27, 2026Last filing: 10-Q on Jul 31, 2026
$166.50+0.46 (+0.28%)
Close on Oct 19, 2026
- Market cap
- $8.44B
- P/E (TTM)
- 29.9
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
40.5%+5.5 pts over 5 years
Operating margin
15.5%+6.9 pts over 5 years
Net margin
10.8%+2.0 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +14.2% | +15.7% | +15.0% | +3.8% | |
| Gross profit | +14.8% | +20.5% | +18.3% | +12.8% | |
| Operating income | +13.7% | +90.1% | +29.3% | – | |
| Net income | +21.7% | +968.5% | +19.8% | – | |
| EPS, diluted | +18.1% | – | +18.4% | – | |
| Free cash flow | -2.7% | – | +16.8% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -25.0% | 17.2% | 13.5% | |
| Return on assets | -3.3% | 4.4% | 7.7% | |
| Current ratio | 1.11 | 1.18 | 2.48 | |
| Debt to equity | 1.86 | 0.64 | 0.22 | |
| Net debt to EBITDA | 2.66× | 2.70× | 0.29× | |
| Interest coverage | 4.7× | 5.3× | 7.3× | |
| Inventory turnover | 7.1× | 4.7× | 4.7× | |
| Capex to revenue | 0.8% | 1.4% | 4.1% | |
| Diluted shares | 42M | 46M | 49M |
Where the cash went
Fiscal 2021 to 2025, five years combined
SPX Technologies generated $1.14B from operations and spent $213.20M on capital expenditure, dividends and share buybacks. 84% of that went back into the business.
Generated
$1.14B
Used
$213.20M
Capital expenditure$179.50M84%Dividends$00%Share buybacks$33.70M16%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin10.8%
×Asset turnover0.72×
×Equity multiplier1.74×
=Return on equity, FY202513.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 10.8% | 0.72× | 1.74× | 13.5% |
| FY2024 | 10.1% | 0.77× | 2.00× | 15.5% |
| FY2023 | 5.2% | 0.80× | 1.92× | 7.9% |
| FY2022 | 0.0% | 0.64× | 2.09× | 0.0% |
| FY2021 | 34.9% | 0.49× | 2.85× | 48.8% |
| FY2020 | 8.8% | 0.50× | 3.91× | 17.2% |
| FY2019 | 5.8% | 0.53× | 4.56× | 14.1% |
| FY2018 | 5.4% | 0.74× | 5.62× | 22.3% |
| FY2017 | 6.3% | 0.72× | 7.81× | 35.3% |
| FY2016 | -4.6% | 0.72× | 7.62× | -25.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
8of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$244.00M
- Cash generatingOperating cash flow above zero$333.30M
- Return on assets improvedROA up on the prior year8.2% → 9.0%
- Earnings backed by cashOperating cash flow above net income$333.30M vs $244.00M
- Less leverageLong-term debt to assets fell21.3% → 13.8%
- Better liquidityCurrent ratio rose1.87 → 2.48
- No dilutionShare count did not rise47M → 49M
- Gross margin improvedGross margin up on the prior year40.29% → 40.51%
- More efficientAsset turnover rose0.81 → 0.83