SPX (SPXC) AI Stock Analysis

• Market Cap: $7.50B
• Dividend Yield: N/A
• Average Volume (3M): 217.86K
• Price to Earnings (P/E): 36.7
• Beta (1Y): 1.35
• Revenue Growth: 10.78%
• EPS Growth: 30.05%
• Country: US
• Employees: 4,300
• Sector: Industrials
• Sector Strength: 87
• Industry: Industrial - Machinery
• EPS (TTM): 1.38
• Shares Outstanding: 46,706,425
• 10 Day Avg. Volume: 215,309
• 30 Day Avg. Volume: 217,859
• PEG Ratio: -2.27
• Price to Book (P/B): 2.76
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -19.50
• Enterprise Value/Market Cap: 0.41
• Enterprise Value/Revenue: 0.39
• Enterprise Value/Gross Profit: 3.87
• Enterprise Value/Ebitda: 2.05
• 1Y Price Target: $180.00
• Price Target Upside: 16.54% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5

• Rating: 78 Outperform
• Price Target: $182.00 ▲(17.84%Upside)

SPX Technologies receives a strong overall stock score, driven by robust financial performance and positive earnings guidance. The company's strategic acquisitions and solid market position further enhance its prospects. While technical indicators suggest potential overbought conditions and high P/E valuation raises caution, the company's effective management and growth initiatives position it well for future success.

Positive Factors

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.

Project Activity

SPX Technologies has strong project activity projected into 2026 and beyond, indicating long-term growth potential.

Revenue Growth

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

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.

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 products and services in its three main segments. In the HVAC segment, the company offers cooling towers, boilers, and other heating and cooling solutions, catering to both commercial and residential sectors. The Detection & Measurement segment provides communication technologies, specialty lighting, and safety solutions, which are essential for infrastructure and industrial applications. The Engineered Solutions segment focuses on providing customized industrial products and components. SPX's earnings are significantly influenced by its ability to maintain strong relationships with its clients and expand its market presence through strategic acquisitions and partnerships, which enhance its product offerings and geographic reach.

SPX Financial Statement Overview

Summary

SPX shows strong financial performance with robust revenue growth, solid profit margins, and effective cash management. The income statement reflects significant growth and profitability, while the balance sheet and cash flow statements indicate stability and strong cash generation. The increase in debt levels is noted but does not overshadow the overall strong financial health.

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	1.13B
	Gross Profit
795.60M	799.40M	670.00M	523.90M	431.80M	395.50M
	EBIT
310.30M	308.30M	221.90M	51.00M	73.70M	96.90M
	EBITDA
383.70M	401.40M	286.00M	82.80M	125.50M	128.90M
	Net Income Common Stockholders
202.10M	200.50M	89.90M	19.80M	425.40M	99.00M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
177.80M	156.90M	99.40M	147.80M	388.20M	64.00M
	Total Assets
3.14B	2.71B	2.44B	1.93B	2.63B	2.33B
	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	348.40M
	Total Liabilities
1.69B	1.33B	1.25B	851.70M	1.53B	1.69B
	Stockholders Equity
1.44B	1.38B	1.19B	1.08B	1.10B	640.10M
Cash Flow		Free Cash Flow
257.90M	247.90M	184.60M	-152.70M	165.00M	111.00M
	Operating Cash Flow
291.50M	285.90M	208.50M	-136.80M	174.60M	126.30M
	Investing Cash Flow
-287.20M	-284.50M	-570.20M	―	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: Neutral
• Last Price: 154.45
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• 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 Neutral. The current price of 154.45 is below the 20-day moving average (MA) of 155.58, above the 50-day MA of 144.25, and above the 200-day MA of 150.49, indicating a neutral trend. The MACD of 3.53 indicates Positive momentum. The RSI at 52.06 is Neutral, neither overbought nor oversold. The STOCH value of 49.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SPXC.

SPX Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WTS	79 Outperform	$8.17B	28.03	17.61%	0.86%	3.89%	8.17%
SPXC	78 Outperform	$7.50B	36.70	15.24%	―	10.78%	30.05%
GTLS	74 Outperform	$6.65B	29.10	9.07%	―	11.65%	340.94%
FLS	72 Outperform	$6.19B	22.18	14.00%	1.77%	4.23%	20.40%
RRX	72 Outperform	$9.40B	39.23	3.69%	0.99%	-10.19%	―
JBTM	70 Outperform	$6.26B	40.40	-3.97%	0.17%	30.24%	-107.38%
Sector *	66 Neutral	$4.51B	12.22	5.40%	3.63%	4.14%	-12.01%

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.