SPX (SPXC) AI Stock Analysis

• Market Cap: $7.00B
• Dividend Yield: N/A
• Average Volume (3M): 244.37K
• Price to Earnings (P/E): 34.6
• Beta (1Y): 1.36
• Revenue Growth: 10.78%
• EPS Growth: 30.05%
• Country: US
• Employees: 4,300
• Sector: Industrials
• Sector Strength: 92
• Industry: Industrial - Machinery
• EPS (TTM): 1.38
• Shares Outstanding: 46,706,425
• 10 Day Avg. Volume: 202,089
• 30 Day Avg. Volume: 244,366
• PEG Ratio: 49.74
• Price to Book (P/B): 4.79
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 26.97
• Enterprise Value/Market Cap: 1.11
• Enterprise Value/Revenue: 0.99
• Enterprise Value/Gross Profit: 9.72
• Enterprise Value/Ebitda: 5.17
• 1Y Price Target: $180.00
• Price Target Upside: 20.18% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 80 Outperform
• Price Target: ―

SPX Technologies demonstrates strong financial performance with robust revenue and profit growth, supported by strategic acquisitions and effective resource management. The stock's technical indicators show positive momentum, though caution is advised due to high stochastic levels. While the P/E ratio indicates a high valuation, suggesting high growth expectations, the positive earnings call with increased guidance supports confidence in the company's prospects. Risks include tariff impacts and valuation concerns, but the overall outlook remains solid.

Positive Factors

Acquisition

SPX Technologies announced the acquisition of Sigma Heating and Cooling and Omega Heat Pump for a purchase price of $144 million, expected to generate annualized revenue of $65 million.

Market Position

SPXC is viewed as an early-stage compounder with attractive growth opportunities in niche HVAC and Detection & Measurement markets.

Revenue Guidance

Management upgraded full year 2025 revenue guidance to $2.20 billion to $2.26 billion, incorporating the recent acquisition of Sigma & Omega.

Negative Factors

Growth Outlook

Management worked late last year to telegraph a lower growth outlook for 2025.

HVAC Orders

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

Stock Performance

SPX stock is down 25% from all-time highs in November 2024, as management worked late last year to telegraph a lower growth outlook for 2025.

SPX Business Overview & Revenue Model

Company Description

SPX Technologies, Inc. supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets in the United States, China, the United Kingdom, and internationally. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers and comfort heating and ventilation products for the residential and commercial markets. It offers its products under the Marley, Recold, SGS, Cincinnati Fan, Berko, Qmark, Fahrenheat, Leading Edge, Patterson-Kelley, Weil-McLain, and Williamson-Thermoflo brands. The Detection and Measurement segment offers underground pipe and cable locators, inspection and rehabilitation equipment, and robotic systems under the Radiodetection, Pearpoint, Schonstedt, Dielectric, Riser Bond, Warren G-V, Cues, ULC Robotics, and Sensors & Software brands; and bus fare collection systems, communication technologies, and obstruction lighting products under the Genfare, TCI, Flash Technology, Sabik Marine, Sealite, Avlite, and ECS brands. The company markets its products through independent manufacturing representatives, third-party distributors, and retailers, as well as direct to customers. The company was formerly known as SPX Corporation and changed its name to SPX Technologies, Inc. in August 2022. SPX Technologies, Inc. was founded in 1912 and is headquartered in Charlotte, North Carolina.

How the Company Makes Money

SPX Technologies generates revenue through the sale of its diverse portfolio of products and services across multiple industries. Its key revenue streams include the HVAC segment, where the company offers cooling products, heating solutions, and ventilation systems for residential, commercial, and industrial customers. The detection and measurement segment provides diagnostic tools and related equipment, serving sectors such as oil and gas, power generation, and transportation. Additionally, the engineered solutions segment includes specialized products and services tailored to customer-specific needs, often involving customized engineering and project management. SPX's earnings are bolstered by its strategic partnerships and contracts with leading companies in various industries, which ensure a steady demand for its products and services.

SPX Financial Statement Overview

Summary

SPX is in a strong financial position, with impressive revenue and profit growth, a stable balance sheet, and robust cash flow generation. The company's strategic management of resources and operational efficiency are evident in its financial performance. While the increase in debt levels requires attention, the overall financial health remains solid, positioning SPX well for future growth in the industrial machinery sector.

Income Statement

SPX has demonstrated strong revenue growth, with a notable increase from $1.22 billion in 2021 to $2.00 billion TTM (Trailing-Twelve-Months). Gross profit margins are solid at 39.8% TTM, indicating effective cost management. The net profit margin also shows improvement, reaching 10.1% TTM. EBIT and EBITDA margins are healthy, reflecting operational efficiency. Overall, the income statement reflects robust growth and profitability.

Balance Sheet

SPX maintains a stable balance sheet with a debt-to-equity ratio of 0.65, suggesting moderate leverage. The company has a strong equity ratio of 46.0% TTM, which indicates a solid capital structure. Return on Equity (ROE) is impressive at 14.0% TTM, showcasing effective use of shareholder funds. While the balance sheet is strong, the increase in total debt over the past years warrants monitoring.

Cash Flow

SPX's cash flow statement reveals positive trends, with operating cash flow exceeding net income, indicating strong cash generation capabilities. The company has achieved a positive free cash flow growth rate, reaching $258.4 million TTM. The operating cash flow to net income ratio is favorable, highlighting efficient cash conversion. Overall, cash flow metrics suggest sound liquidity and financial health.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
2.00B	1.98B	1.74B	1.46B	1.22B	1.56B
	Gross Profit
795.60M	799.40M	670.00M	523.90M	431.80M	478.90M
	EBIT
310.30M	308.30M	221.90M	51.00M	73.70M	132.00M
	EBITDA
383.70M	401.40M	286.00M	82.80M	125.50M	132.00M
	Net Income Common Stockholders
202.10M	200.50M	89.90M	19.80M	59.00M	99.00M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
177.80M	156.90M	99.40M	147.80M	388.20M	68.30M
	Total Assets
3.14B	2.71B	2.44B	1.93B	2.63B	2.30B
	Total Debt
960.30M	614.70M	558.30M	246.80M	246.00M	412.40M
	Net Debt
782.50M	457.80M	458.90M	99.00M	-142.20M	344.10M
	Total Liabilities
1.69B	1.33B	1.25B	851.70M	1.53B	1.67B
	Stockholders Equity
1.44B	1.38B	1.19B	1.08B	1.10B	629.20M
Cash Flow		Free Cash Flow
257.90M	247.90M	184.60M	-152.70M	165.00M	104.80M
	Operating Cash Flow
291.50M	285.90M	208.50M	-136.80M	174.60M	126.30M
	Investing Cash Flow
-287.20M	-284.50M	-570.20M	-66.10M	314.10M	-126.10M
	Financing Cash Flow
96.10M	53.10M	309.60M	-38.90M	-167.60M	15.90M

SPX Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 149.77
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

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 149.77 is above the 20-day moving average (MA) of 148.34, above the 50-day MA of 138.13, and below the 200-day MA of 150.14, indicating a neutral trend. The MACD of 4.67 indicates Positive momentum. The RSI at 56.50 is Neutral, neither overbought nor oversold. The STOCH value of 23.19 is Neutral, 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
SPXC	80 Outperform	$7.00B	34.63	15.24%	―	10.78%	30.05%
GTLS	80 Outperform	$7.26B	32.04	9.07%	―	11.65%	340.94%
WTS	79 Outperform	$7.98B	27.37	17.61%	0.72%	3.89%	8.17%
FLS	78 Outperform	$6.46B	23.15	14.00%	1.70%	4.23%	20.40%
RRX	68 Neutral	$8.91B	38.28	3.69%	1.04%	-10.19%	―
JBTM	65 Neutral	$5.95B	40.40	-3.97%	0.35%	30.24%	-107.38%
Sector *	64 Neutral	$4.39B	11.81	5.20%	249.38%	3.96%	-12.36%

SPX Corporate Events

SPX Technologies Holds Annual Stockholders Meeting

On May 13, 2025, SPX Technologies held its Annual Meeting of Stockholders, where several key proposals were voted on. The election of directors resulted in the appointment of Eugene J. Lowe, III, Patrick J. O’Leary, and David A. Roberts for terms expiring in 2027. Additionally, stockholders approved the executive officers’ compensation on a non-binding advisory basis and ratified Deloitte & Touche LLP as the independent registered public accounting firm for 2025.

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.