Spx Technologies (SPXC) | Financial Analysis & Statements
Spx Technologies Inc. Large-cap Industrials
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Dec 2025Income Metrics
Revenue
637.3M
Gross Profit
253.4M
39.76%
Operating Income
101.7M
15.96%
Net Income
77.9M
12.22%
EPS (Diluted)
$1.54
Balance Sheet Metrics
Total Assets
3.6B
Total Liabilities
1.4B
Shareholders Equity
2.2B
Debt to Equity
0.61
Cash Flow Metrics
Operating Cash Flow
205.8M
Free Cash Flow
126.7M
Revenue & Profitability Trend
Quarter Income Flow
Dec 31, 2025
Annual Income Flow
2025
Spx Technologies Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 2.3B | 2.0B | 1.7B | 1.5B | 1.2B |
| Cost of Goods Sold | 1.3B | 1.2B | 1.1B | 937.0M | 787.7M |
| Gross Profit | 917.7M | 799.4M | 670.0M | 523.9M | 431.8M |
| Gross Margin % | 40.5% | 40.3% | 38.5% | 35.9% | 35.4% |
| Operating Expenses | |||||
| Research & Development | - | - | - | - | - |
| Selling, General & Administrative | 477.6M | 414.6M | 394.4M | 355.7M | 309.6M |
| Other Operating Expenses | 500.0K | 8.4M | 9.0M | 74.9M | -4.1M |
| Total Operating Expenses | 478.1M | 423.0M | 403.4M | 430.6M | 305.5M |
| Operating Income | 352.2M | 311.9M | 222.7M | 64.8M | 104.7M |
| Operating Margin % | 15.5% | 15.7% | 12.8% | 4.4% | 8.6% |
| Non-Operating Items | |||||
| Interest Income | 4.8M | 2.1M | 1.7M | 1.7M | 500.0K |
| Interest Expense | 48.1M | 45.7M | 27.2M | 9.3M | 13.1M |
| Other Non-Operating Income | 5.2M | -12.9M | -10.9M | -30.1M | -22.2M |
| Pre-tax Income | 314.1M | 255.4M | 186.3M | 27.1M | 69.9M |
| Income Tax | 68.6M | 53.6M | 41.6M | 7.3M | 10.9M |
| Effective Tax Rate % | 21.8% | 21.0% | 22.3% | 26.9% | 15.6% |
| Net Income | 244.0M | 200.5M | 89.9M | 200.0K | 425.4M |
| Net Margin % | 10.8% | 10.1% | 5.2% | 0.0% | 34.9% |
| Key Metrics | |||||
| EBITDA | 488.1M | 396.3M | 277.5M | 97.7M | 156.5M |
| EPS (Basic) | $5.10 | $4.34 | $1.97 | $0.01 | $9.39 |
| EPS (Diluted) | $5.03 | $4.26 | $1.93 | $0.00 | $9.15 |
| Basic Shares Outstanding | 47830000 | 46187000 | 45545000 | 45345000 | 45289000 |
| Diluted Shares Outstanding | 47830000 | 46187000 | 45545000 | 45345000 | 45289000 |
Income Statement Trend
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Spx Technologies Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 364.0M | 156.9M | 99.4M | 147.8M | 388.2M |
| Short-term Investments | - | - | - | - | - |
| Accounts Receivable | 357.2M | 313.6M | 279.8M | 263.5M | 223.4M |
| Inventory | 302.2M | 271.0M | 276.7M | 244.0M | 189.8M |
| Other Current Assets | 55.3M | 31.5M | 37.1M | 41.9M | 73.1M |
| Total Current Assets | 1.1B | 784.3M | 709.6M | 721.1M | 903.4M |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 3.0B | 2.4B | 2.1B | 1.3B | 1.3B |
| Intangible Assets | 868.2M | 703.0M | 680.8M | 401.6M | 415.5M |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | 258.5M | 174.7M | 204.0M | 243.0M | 739.1M |
| Total Non-Current Assets | 2.5B | 1.9B | 1.7B | 1.2B | 1.7B |
| Total Assets | 3.6B | 2.7B | 2.4B | 1.9B | 2.6B |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 145.2M | 128.1M | 118.7M | 124.5M | 119.6M |
| Short-term Debt | 4.9M | 37.7M | 35.2M | 3.8M | 15.2M |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | - | - | - | - | - |
| Total Current Liabilities | 461.1M | 418.3M | 401.2M | 333.8M | 439.5M |
| Non-Current Liabilities | |||||
| Long-term Debt | 496.7M | 577.0M | 523.1M | 243.0M | 230.8M |
| Deferred Tax Liabilities | 149.7M | 97.8M | 77.0M | 34.8M | 31.3M |
| Other Non-Current Liabilities | 259.6M | 237.0M | 243.8M | 240.1M | 824.1M |
| Total Non-Current Liabilities | 906.0M | 911.8M | 843.9M | 517.9M | 1.1B |
| Total Liabilities | 1.4B | 1.3B | 1.2B | 851.7M | 1.5B |
| Equity | |||||
| Common Stock | 600.0K | 500.0K | 500.0K | 500.0K | 500.0K |
| Retained Earnings | 482.8M | 238.8M | 38.3M | -51.6M | -51.8M |
| Treasury Stock | 444.6M | 452.0M | 458.9M | 465.5M | 443.9M |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 2.2B | 1.4B | 1.2B | 1.1B | 1.1B |
| Key Metrics | |||||
| Total Debt | 501.6M | 614.7M | 558.3M | 246.8M | 246.0M |
| Working Capital | 682.6M | 366.0M | 308.4M | 387.3M | 463.9M |
Balance Sheet Composition
Spx Technologies Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 245.5M | 201.8M | 144.7M | 19.8M | 59.0M |
| Depreciation & Amortization | 122.6M | 91.6M | 63.2M | 46.4M | 42.3M |
| Stock-Based Compensation | 16.7M | 15.0M | 13.4M | 10.9M | 12.8M |
| Working Capital Changes | -54.3M | 6.9M | 34.5M | -127.4M | 5.0M |
| Operating Cash Flow | 338.0M | 293.5M | 225.4M | -210.0M | 121.4M |
| Investing Activities | |||||
| Capital Expenditures | - | - | - | - | - |
| Acquisitions | -445.0M | -292.0M | -547.0M | -40.0M | -265.2M |
| Investment Purchases | - | - | - | - | - |
| Investment Sales | - | - | - | - | - |
| Investing Cash Flow | -468.9M | -246.5M | -546.3M | -36.3M | -296.4M |
| Financing Activities | |||||
| Share Repurchases | - | 0 | 0 | -33.7M | 0 |
| Dividends Paid | - | - | - | - | - |
| Debt Issuance | 1.3B | 656.8M | 1.0B | 245.0M | 388.9M |
| Debt Repayment | -1.4B | -602.0M | -572.9M | -244.5M | -346.4M |
| Financing Cash Flow | 425.5M | 53.1M | 309.6M | -39.9M | -303.9M |
| Free Cash Flow | 241.2M | 247.9M | 184.6M | -152.7M | 165.0M |
| Net Change in Cash | 294.6M | 100.1M | -11.3M | -286.2M | -478.9M |
Cash Flow Trend
Spx Technologies Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
44.26
Forward P/E
25.46
Price to Book
4.99
Price to Sales
4.96
PEG Ratio
1.65
Profitability Ratios
Profit Margin
10.77%
Operating Margin
11.49%
Return on Equity
13.56%
Return on Assets
6.83%
Financial Health
Current Ratio
2.48
Debt to Equity
25.81
Beta
1.34
Per Share Data
EPS (TTM)
$5.06
Book Value per Share
$44.87
Revenue per Share
$47.36
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| SPXC | 11.2B | 44.26 | 4.99 | 13.56% | 10.77% | 25.81 |
| Trane Technologies | 107.7B | 36.28 | 12.30 | 36.96% | 13.69% | 63.25 |
| Johnson Controls | 86.9B | 47.56 | 6.57 | 12.64% | 14.17% | 73.34 |
| Carrier Global | 51.4B | 36.41 | 3.73 | 10.93% | 6.82% | 87.72 |
| Lennox International | 17.1B | 21.64 | 14.77 | 75.83% | 15.51% | 152.24 |
| Carlisle Companies | 16.0B | 20.53 | 7.35 | 33.20% | 25.24% | 87.44 |
Financial data is updated regularly. All figures are in the company's reporting currency.






