SPX (SPXC) AI Stock Analysis

• Market Cap: $8.61B
• Dividend Yield: N/A
• Average Volume (3M): 481.96K
• Price to Earnings (P/E): 40.8
• Beta (1Y): 1.34
• Revenue Growth: 8.90%
• EPS Growth: 29.18%
• Country: US
• Employees: 4,300
• Sector: Industrials
• Sector Strength: 74
• Industry: Industrial - Machinery
• EPS (TTM): 1.65
• Shares Outstanding: 46,758,156
• 10 Day Avg. Volume: 306,043
• 30 Day Avg. Volume: 481,960
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.02
• Enterprise Value/Revenue: 4.29
• Enterprise Value/Gross Profit: 10.48
• Enterprise Value/Ebitda: 20.51
• 1Y Price Target: $200.00
• Price Target Upside: 9.50% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5

• Rating: 78 Outperform
• Price Target: $219.00 ▲(19.90% Upside)

SPX Technologies scores a solid 78, driven by strong financial performance and positive earnings call outcomes. The technical indicators support a bullish trend, although the high P/E ratio suggests the stock may be overvalued. The recent stock offering further strengthens its financial position, contributing positively to the overall score.

Positive Factors

Earnings

Shares of SPXC traded 5% higher after hours following better-than-expected second-quarter results.

Market Position

SPX Technologies is a dominant manufacturer of water-cooling towers globally, holding roughly 50% market share, which positions it well for future growth in the data center market.

Negative Factors

Market Risks

There are concerns of potential overearning in the HVAC market as the American Rescue Plan Act rolls off, which could impact future growth rates.

Sector Performance

Orders at HVAC declined 26% versus the prior year, with revenue growth led by HVAC Heating following two stagnant years.

SPX Business Overview & Revenue Model

Company Description

SPX Corporation (SPXC) is a diversified, multi-industry company that operates primarily in two sectors: HVAC (Heating, Ventilation, and Air Conditioning) and Detection and Measurement. The company designs, manufactures, and markets a wide range of products, including heat exchangers, pumps, and cooling towers, as well as specialized measurement and testing equipment. SPX serves various industries, including commercial and industrial markets, providing innovative solutions that enhance efficiency and performance.

How the Company Makes Money

SPX generates revenue through several key streams, primarily from the sales of its HVAC and Detection and Measurement products. The HVAC segment includes revenues from equipment sales, aftermarket parts, and service contracts, which are driven by demand for energy-efficient solutions in commercial and industrial applications. The Detection and Measurement segment earns income from the sale of specialized testing equipment and services, catering to regulatory and safety compliance needs. Additionally, SPX benefits from strategic partnerships and collaborations that enhance its product offerings and market reach, contributing to its overall earnings. The company's focus on innovation and customer-centric solutions further supports its revenue growth.

SPX Financial Statement Overview

Summary

SPX has demonstrated strong revenue growth and improving profit margins. The balance sheet is stable with moderate leverage and a strong equity position. Cash flows are healthy, though there is room for enhancing free cash flow generation. Overall, SPX is well-positioned for continued growth with a sound financial foundation.

Income Statement

SPX has demonstrated strong revenue growth, with a notable increase from 2022 to 2025. The Gross Profit Margin for TTM (Trailing-Twelve-Months) is robust at 40.95%. Net Profit Margin has improved significantly to 10.24% for TTM, indicating enhanced profitability. The EBIT and EBITDA margins, at 15.70% and 18.09% respectively, are healthy, suggesting efficient operations.

Balance Sheet

The company's Debt-to-Equity Ratio of 0.65 for TTM indicates moderate leverage, which is manageable. Return on Equity (ROE) stands at 13.70%, reflecting effective use of equity. The Equity Ratio of 46.36% shows a substantial equity base, contributing to financial stability.

Cash Flow

Free Cash Flow for TTM is strong at $247 million, with consistent generation over the past years. The Operating Cash Flow to Net Income Ratio is 1.32, indicating good cash conversion capability. However, Free Cash Flow has shown minimal growth, suggesting potential for improvement in cash deployment.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.05B	1.98B	1.74B	1.46B	1.22B	1.13B
Gross Profit	840.50M	799.40M	670.00M	523.90M	431.80M	395.50M
EBITDA	429.40M	392.70M	276.70M	82.80M	125.30M	128.90M
Net Income	210.70M	200.50M	89.90M	200.00K	425.40M	99.00M
Balance Sheet
Total Assets	3.31B	2.71B	2.44B	1.93B	2.63B	2.33B
Cash, Cash Equivalents and Short-Term Investments	132.80M	156.90M	99.40M	147.80M	388.20M	64.00M
Total Debt	1.02B	614.70M	558.30M	246.80M	246.00M	412.40M
Total Liabilities	1.77B	1.33B	1.25B	851.70M	1.53B	1.69B
Stockholders Equity	1.53B	1.38B	1.19B	1.08B	1.10B	640.10M
Cash Flow
Free Cash Flow	247.00M	247.90M	184.60M	-152.70M	165.00M	111.00M
Operating Cash Flow	277.90M	285.90M	208.50M	-136.80M	174.60M	126.30M
Investing Cash Flow	-470.80M	-284.50M	-570.20M	―	314.10M	-126.10M
Financing Cash Flow	217.90M	53.10M	309.60M	-38.90M	-167.60M	15.90M

SPX Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 182.65
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SPXC, the sentiment is Positive. The current price of 182.65 is below the 20-day moving average (MA) of 191.16, above the 50-day MA of 182.10, and above the 200-day MA of 156.39, indicating a neutral trend. The MACD of 0.82 indicates Positive momentum. The RSI at 42.75 is Neutral, neither overbought nor oversold. The STOCH value of 18.24 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SPXC.

SPX Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WTS	79 Outperform	$9.27B	29.87	17.75%	0.68%	2.96%	12.62%
SPXC	78 Outperform	$8.61B	40.82	15.02%	―	8.90%	29.18%
DCI	78 Outperform	$9.28B	26.12	24.94%	1.43%	2.92%	-9.78%
GTLS	75 Outperform	$8.96B	36.91	9.09%	―	8.94%	137.02%
PSN	70 Outperform	$8.61B	22.02	16.67%	―	9.22%	616.60%
RRX	64 Neutral	$9.70B	38.86	3.84%	0.98%	-7.88%	―
Sector *	64 Neutral	$10.66B	15.60	8.14%	2.00%	2.79%	-14.82%

SPX Corporate Events

SPX Technologies Completes $500 Million Stock Offering

On August 12, 2025, SPX Technologies, Inc. entered into an underwriting agreement with several underwriters for the offering and sale of 2,659,575 shares of its common stock at $188.00 per share, which closed on August 14, 2025. The offering, which could potentially include an additional 398,936 shares, resulted in gross proceeds of approximately $500 million, enhancing SPX Technologies’ financial position and market operations.

The most recent analyst rating on (SPXC) stock is a Buy with a $175.00 price target. To see the full list of analyst forecasts on SPX stock, see the SPXC Stock Forecast page.