Financials

SPX Technologies Inc. financials

SPXC Machinery

SPX Technologies Inc. (NYSE: SPXC), founded in 1911, is an industrial company that designs and manufactures advanced engineered solutions for HVAC, power generation, and process applications. Its revenue is generated from diversified products such as centrifugal compressors and precision filtration systems along with strong aftermarket services. Under the leadership of CEO Gary P. McGann, the company holds an estimated 10-12% market share in key segments and competes robustly through technological innovation and service excellence. With strategic investments in digital solutions and market expansion, SPX Technologies is positioning itself for sustainable future growth.

Snapshot

SPX Technologies Inc. reported $2.27B in revenue in fiscal 2025, up 14.2% year over year, with an operating margin of 15.5%.

Revenue (FY2025): $2.27B
YoY growth: +14.2%
Operating margin: 15.5%
Direction: Expanding

Financial statements

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Total Revenues	2,265,100	1,983,900	1,741,200	1,460,900
Cost of Sales	1,347,400	1,184,500	1,071,200	937,000
Gross Profit	917,700	799,400	670,000	523,900
Selling, General & Administrative Expenses	477,600	414,600	394,400	355,700
Depreciation & Amortization Expenses	87,400	64,500	43,900	28,500
Other Operating Expenses	2,300	12,000	9,800	88,700
Operating Profit	350,400	308,300	221,900	51,000
Interest and Investment Income	4,800	2,100	1,700	1,700
Interest Expense	(48,100)	(45,700)	(27,200)	(9,300)
Non-Operating Income	7,000	(9,300)	(10,100)	(16,300)
Total Non-Operating Income	(36,300)	(52,900)	(35,600)	(23,900)
Income Before Provision for Income Taxes	314,100	255,400	186,300	27,100
Provision for Income Taxes	68,600	53,600	41,600	7,300
Consolidated Net Income	245,500	201,800	144,700	19,800
Net Income Attributable to Discontinued Operations	(3,000)	(2,600)	(109,600)	(39,200)
Net Income Attributable to Common Shareholders	244,000	200,500	89,900	200
Basic EPS	5.10	4.34	1.97	0.00
Diluted EPS	5.03	4.26	1.93	0.00
Basic Weighted Average Shares Outstanding	47,830	46,187	45,545	45,345
Diluted Weighted Average Shares Outstanding	48,511	47,078	46,612	46,221
Shares Outstanding	49,867	46,368	45,675	45,292

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Cash and Cash Equivalents	364,000	156,900	99,400	147,800
Total Cash and Cash Equivalents	364,000	156,900	99,400	147,800
Accounts Receivable	422,200	324,900	296,400	287,400
Total Trade Receivables	422,200	324,900	296,400	287,400
Inventories	302,200	271,000	276,700	244,000
Other Current Assets	55,300	31,500	37,100	41,900
Total Current Assets	1,143,700	784,300	709,600	721,100
Net Property, Plant & Equipment	290,800	218,000	140,500	109,900
Net Intangible Assets	868,200	703,000	680,800	401,600
Goodwill	1,043,400	834,500	704,800	455,300
Other Long-Term Assets	258,500	174,700	204,000	243,000
Total Assets	3,604,600	2,714,500	2,439,700	1,930,900
Accounts Payable	145,200	128,100	118,700	124,500
Accrued Expenses	185,200	170,800	168,500	148,000
Short-Term Debt	1,400	10,100	17,900	1,800
Current Portion of Long-Term Debt	3,500	27,600	17,300	2,000
Unearned Revenue	115,800	62,300	73,500	52,800
Other Current Liabilities	10,000	19,400	5,300	4,700
Total Current Liabilities	461,100	418,300	401,200	333,800
Long-Term Debt	496,700	577,000	523,100	243,000
Other Long-Term Liabilities	409,300	334,800	320,800	274,900
Total Long-Term Liabilities	906,000	911,800	843,900	517,900
Total Liabilities	1,367,100	1,330,100	1,245,100	851,700
Common Stock	600	500	500	500
Treasury Stock	(444,600)	(452,000)	(458,900)	(465,500)
Additional Paid-in Capital	1,938,200	1,373,500	1,353,600	1,338,300
Accumulated Other Comprehensive Income	260,500	223,600	261,100	257,500
Retained Earnings	482,800	238,800	38,300	(51,600)
Total Common Shareholders' Equity	2,237,500	1,384,400	1,194,600	1,079,200
Total Shareholders' Equity	2,237,500	1,384,400	1,194,600	1,079,200
Total Liabilities and Shareholders' Equity	3,604,600	2,714,500	2,439,700	1,930,900

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Net Income	244,000	200,500	89,900	200
Depreciation & Amortization	122,600	91,600	63,200	46,400
Share-Based Compensation Expense	16,700	15,000	13,400	10,900
Other Adjustments	51,900	(1,900)	(66,700)	(84,100)
Changes in Trade Receivables	(81,800)	2,100	30,600	(300)
Changes in Inventories	2,800	9,100	(3,100)	(53,400)
Changes in Accounts Payable	24,700	(4,300)	7,000	(73,700)
Changes in Other Operating Activities	(50,600)	(28,800)	(35,400)	(22,000)
Cash from Operating Activities	333,300	285,900	208,500	(136,800)
Capital Expenditure	(92,100)	(38,000)	(23,900)	(15,900)
Proceeds from Sale of Property, Plant & Equipment	—	3,600	—	—
Payments for Business Acquisitions	(445,000)	(292,000)	(547,000)	(40,000)
Other Investing Activities	(23,900)	41,900	700	(10,200)
Cash from Investing Activities	(561,000)	(284,500)	(570,200)	(66,100)
Issuance of Short-Term Debt	1,258,000	656,800	1,047,100	245,000
Repayments of Short-Term Debt	(1,371,600)	(600,800)	(734,500)	(243,700)
Net Issuance / (Repayments) of Short-Term Debt	(113,600)	56,000	312,600	1,300
Issuance of Common Shares	551,100	—	—	—
Repurchases of Common Shares	—	—	—	(33,700)
Net Issuance / (Repurchases) of Common Shares	551,100	—	—	(33,700)
Other Financing Activities	(12,000)	(2,900)	(3,000)	(6,500)
Cash from Financing Activities	425,500	53,100	309,600	(38,900)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	6,800	2,000	(100)	2,900
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash	204,600	56,500	(52,200)	(238,900)

Key metrics

$9.98B

Market Cap

39.77x

P/E

4.40x

P/S

21.38x

EV/EBITDA

13.6%

Return on Equity

10.6%

Return on Invested Capital

2.48x

Current Ratio

0.0%

Dividend Yield

10.6%

Free Cash Flow Margin

Quarterly trend

Quarter	Revenue	YoY growth	Operating margin	Operating income
Q1 2026	$567M	+17.4%	15.5%	$88M
Q4 2025	$637M	+19.4%	15.7%	$100M
Q3 2025	$593M	+22.6%	16.4%	$97M
Q2 2025	$552M	+10.2%	15.7%	$87M
Q1 2025	$483M	—	13.8%	$67M
Q4 2024	$534M	—	16.9%	$90M
Q3 2024	$484M	—	16.3%	$79M
Q2 2024	$501M	—	14.9%	$75M

Margins

40.5%

Gross margin

15.5%

Operating margin

10.8%

Net margin

Snapshot

Financial statements

Key metrics

Quarterly trend

Margins

More on SPX Technologies Inc.

See how VectorShift works for your firm