SPXC
SPX Technologies, Inc.
Next earnings Jul 29, 2026 · consensus $1.89 EPS, $652M rev
Last earnings +3.6% on 2026-04-30
$227.74
▼ -4.40%$227.74▲ +36.25%
over 1Y
L $167.15H $246.41
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-4.4%
1W-6.9%
1M-1.0%
3M+15.4%
YTD+12.0%
1Y+36.2%
Hold
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 19 analysts
Buy
High-quality industrial compounding 14% revenue with data-center tailwinds, but 48x earnings already prices the growth.
Revenue (FY2025) $2.27B · FY2025
The read
Middling fundamentals and a rich price (~22% above fair value) leave little margin of safety — a wait-and-see.
SPX Technologies is a well-run diversified industrial (HVAC plus detection/measurement) executing consistently. FY2025 revenue grew 14.2% to $2.27B — extending a steady climb from $1.22B in FY2021 — while net income rose 21.7% to $244M and EPS gained 18.1% to $5.03. Margins are solid for the sector: 15.5% operating margin and 10.8% net margin, with operating income up 13.7% to $350M. The balance sheet strengthened markedly: equity surged 61.6% to $2.24B, cash more than doubled to $364M (up 132%), and current-portion debt is negligible at $3.5M. ROE of 10.9% is respectable.
The forward setup is supported by structural demand. The 10-K explicitly cites 'demand for the construction of data centers' as a swing factor for its products (process cooling/towers and communication technologies), positioning SPXC in the slipstream of the data-center buildout. Capex was ramped 142% to $92.1M and R&D rose 17.6% to $54M, signaling management is investing into that demand. Operating cash flow grew 16.6% to $333M, comfortably funding the investment.
Is SPXC a buy? The one-page verdict, explained →
The options angle
model · matches our verdictCovered call~60d expiry
- Long 100 shares @ ~227.74
- Short call 240 @ ~11.99 est
debit $21,575max +$2,425max −$21,574BE 215.75
HOLD means own it, don't chase it — harvesting premium against the position matches the verdict.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $1.22B | $1.46B | $1.74B | $1.98B | $2.27B |
| Gross profit | — | — | — | — | — |
| Operating income | $73.7M | $51.0M | $222M | $308M | $350M |
| Net income | $425M | $200K | $89.9M | $201M | $244M |
| Diluted EPS | $9.15 | $0.00 | $1.93 | $4.26 | $5.03 |
| Net margin | 34.9% | 0.0% | 5.2% | 10.1% | 10.8% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$11.0B
EV / EBITDA23.3
EV / Sales4.9
EV / FCF45.8
P / FCF47.3
PEG (trailing)2.09
Earnings yield2.1%
FCF yield2.1%
Quality & risk
ROIC (est.)12.4%
Free cash flow$241M
Total debt$3.50M
Net cash$361M
Piotroski F-Score4/8
Capital returns
Buyback yield0.0%
Dividend yield (est.)0.4%
Shareholder yield0.4%
Shares Δ YoY+7.5%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
Recent filings
all on EDGAR ↗8-KPeriod ending 2026-06-182026-06-22open ↗11-KPeriod ending 2025-12-312026-06-12open ↗SDFiling2026-05-20open ↗4Period ending 2026-05-122026-05-14open ↗4Period ending 2026-05-122026-05-14open ↗4Period ending 2026-05-122026-05-14open ↗4Period ending 2026-05-122026-05-14open ↗4Period ending 2026-05-122026-05-14open ↗4Period ending 2026-05-122026-05-14open ↗4Period ending 2026-05-122026-05-14open ↗4Period ending 2026-05-122026-05-14open ↗SCHEDULE 13GFiling2026-05-14open ↗
Frequently asked
- Is SPX Technologies, Inc. (SPXC) a buy?
- SPXC currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. High-quality industrial compounding 14% revenue with data-center tailwinds, but 48x earnings already prices the growth.
- What is SPXC's fair value?
- A Modified-Graham model based on SPXC's SEC fundamentals estimates a fair value of about $178.07. It is an estimate from reported earnings, not a price target.
- Is SPXC overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, SPXC currently appears overvalued relative to its SEC-grounded earnings power.
- What is SPX Technologies, Inc.'s quality score?
- SPXC scores 69.4594806726235/100 (grade B-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000088205, latest 10-Q filed 2026-05-01) · EODHD · Proprietary analysis · as of 6/21/2026, 8:46:13 PM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:46 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.