SPX Technologies (SPXC) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

SPX Technologies

NYSE•Industrials•Building Products & Equipment

$160.33+0.32(<0.01%)Pre-market

Market Cap

$8.10B

P/E

27.2x

P/S

3.1x

P/B

3.3x

SPX Technologies, Inc. engages in the supply of engineered solutions serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets in the United States, Canada, 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 and handling solutions for the industrial, institutional, and commercial HVAC markets, as well as hydronic and electrical heating and ventilation products for the residential, industrial, institutional, and commercial markets. It offers cooling products and engineered air movement and handling solutions under the Marley, Recold, SGS, Cincinnati Fan, TAMCO, Ingénia, Air Enterprises, and Rahn Industries brand names; hydronics and electrical heating and ventilation products under the under the Berko, Qmark, Fahrenheat, Leading Edge, Patterson-Kelley, Weil-McLain, Sigma, Omega, Skypeak, Thermolec, Williamson-Thermoflo, INDEECO, Heatrex, AccuTherm, Brasch, Spectrum, BannerDay PipeHeating, and Solar Products brands. The Detection and Measurement segment offers underground pipe and cable locators, inspection and rehabilitation equipment, robotic systems under the Radiodetection, Pearpoint, Schonstedt, Dielectric, Cues, ULC Robotics, and Sensors & Software brands; transportation systems under the Genfare brand; communication technologies under the TCI, ECS, and KTS brands; and aids to navigation products under the Flash Technology, ITL, Sabik Marine, Sealite, and Avlite brands. The company markets its products through consumers, independent manufacturing representatives, third-party distributors, and retailers. The company was formerly known as SPX Corporation and changed its name to SPX Technologies, Inc. in August 2022. SPX Technologies, Inc. is headquartered in Charlotte, North Carolina.

How this company scores

GoodMetricSide Score: 70/100

Strongest: Growth (22/25); weakest: Cash & Earnings Quality (13/25).

Profitability20/25

Growth22/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality13/25

Strengths

Growing revenueStrong marginsRising earningsInterest easily covered

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 27.2x5y range 5.6x – 14849.4x

Currently below its 20-quarter median.

P/S · 3.1x5y range 2.0x – 4.7x

Currently near its 20-quarter median.

P/B · 3.3x5y range 2.1x – 5.4x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Leverage Risk

Watch

Debt-to-equity has risen 119.3% recently — increasing financial risk even if the current ratio is manageable.

Price & Volume

Market Cap $8.10B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $2.60B
Q. Revenue: $714.50M
TTM EBITDA: $558.00M
TTM Op. Income: $418.10M
Q. Op. Income: $115.30M
TTM Net Income: $298.10M
Q. Net Income: $81.90M
EPS: $1.64
Shares Out.: $50.09M

$2.60B in TTM revenue grew 20.2% YoY, reaching $714.50M last quarter. TTM EBITDA of $558.00M and TTM operating income of $418.10M show growth is flowing through to the bottom line. TTM net income of $298.10M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 21.9%
Op. Margin: 16.1%
Net Margin: 11.5%

Op. margin of 16.1% is down 0.2% YoY — costs are rising relative to revenue. Net margin at 11.5% Over the past year, operating margin is down 1% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 27.2x
P/S Ratio: 3.1x
P/B Ratio: 3.3x

At 27.2x P/E, the stock trades within typical market levels. P/S of 3.1x and P/B of 3.3x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 31% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $4.85B
Cash: $119.20M
Long-Term Debt: $1.25B
Book Value: $2.45B
D/E Ratio: 0.5
Debt/EBITDA: 8.0

With $4.85B in assets and $1.25B in long-term debt, D/E is 0.5and book value is $2.45B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is up 119% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $59.30M
TTM Free Cash Flow: $226.60M
FCF Margin: 8.7%
FCF / Net Income: 0.8

TTM FCF of $226.60M on $59.30M in operating cash flow. The FCF / Net Income ratio of 0.8x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is down 16% — a weakening trend.