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

$183.19-8.63(-0.04%)Pre-market

Market Cap

$9.00B

P/E

32.3x

P/S

3.6x

P/B

3.8x

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

ExcellentMetricSide Score: 89/100

Strongest: Profitability (23/25); weakest: Cash & Earnings Quality (22/25).

Profitability23/25

Growth22/25

Balance Sheet & Red Flags22/25

Cash & Earnings Quality22/25

Strengths

Growing revenueRising free cash flowStrong marginsRising earnings

Valuation vs. 5-year range

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

P/E · 32.3x5y range 5.6x – 14849.4x

Currently near its 20-quarter median.

P/S · 3.6x5y range 1.8x – 4.5x

Currently above its 20-quarter median.

P/B · 3.8x5y 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 3 quarters — monitor for earnings quality deterioration.

Share Dilution

Red Flag

Shares outstanding increased 8.1% — significant dilution, likely from stock compensation or capital raises.

Price & Volume

Market Cap $9.00B

Metrics at a Glance

as of June 2026

Revenue & Profit

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

TTM Revenue: $2.48B
Q. Revenue: $679.00M
TTM EBITDA: $530.80M
TTM Op. Income: $399.90M
Q. Op. Income: $115.00M
TTM Net Income: $278.90M
Q. Net Income: $78.40M
EPS: $1.57
Shares Out.: $50.07M

$2.48B in TTM revenue grew 20.6% YoY, reaching $679.00M last quarter. TTM EBITDA of $530.80M and TTM operating income of $399.90M show growth is flowing through to the bottom line. TTM net income of $278.90M 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: 22.2%
Op. Margin: 16.9%
Net Margin: 11.5%

Op. margin of 16.9% is up 1.3% YoY — cost efficiency is improving. Net margin at 11.5% Over the past year, operating margin is up 8% — an improving trend.

Price Ratios

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

P/E Ratio: 32.3x
P/S Ratio: 3.6x
P/B Ratio: 3.8x

At 32.3x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 3.6x and P/B of 3.8x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has fallen for 2 consecutive quarters — an improving trend.

Assets & Liabilities

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

Total Assets: $3.94B
Cash: $166.40M
Long-Term Debt: $530.50M
Book Value: $2.35B
D/E Ratio: 0.2
Debt/EBITDA: 3.5

With $3.94B in assets and $530.50M in long-term debt, D/E is 0.2and book value is $2.35B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is down 64% — an improving trend.

Cash Flow

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

Op. Cash Flow: $89.60M
TTM Free Cash Flow: $303.40M
FCF Margin: 12.3%
FCF / Net Income: 1.1

TTM FCF of $303.40M on $89.60M in operating cash flow. The FCF / Net Income ratio of 1.1x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 2 consecutive quarters — an improving trend.