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Powell Industries, Inc., together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company's products portfolio includes integrated power control room substations, custom-engineered modules, and electrical houses; and traditional and arc-resistant distribution switchgears and control gears, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems. It also provides field service inspection, installation, commissioning, modification, and repair services; spare parts; retrofit and retrofill components for existing systems; and replacement circuit breakers for switchgears. The company serves onshore and offshore production, liquefied natural gas facilities and terminals, pipelines and refineries, petrochemical, electric utility, light rail traction power, mining and metals, pulp and paper, data centers, commercial construction, and other industrial markets, as well as universities and government entities. It operates in the United States, Canada, the Middle East, Africa, Europe, Mexico, the Asia/Pacific, and Central and South America. Powell Industries, Inc. was founded in 1947 and is headquartered in Houston, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.1B | $225M | $181M | $155M | 28.2% | 9.1% | 20.6% |
| 2024 | $1.0B | $186M | $150M | $96M | 31.0% | 44.8% | 174.8% |
| 2023 | $699M | $71M | $55M | $175M | 15.8% | 31.3% | 296.9% |
| 2022 | $533M | $17M | $14M | $-6M | 4.6% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 532.58 | 699.31 | 1,012.36 | 1,104.32 |
| Operating Revenue | - | 532.58 | 699.31 | 1,012.36 | 1,104.32 |
| Cost Of Revenue | - | 447.56 | 551.76 | 739.27 | 779.94 |
| Gross Profit | - | 85.02 | 147.55 | 273.09 | 324.38 |
| Operating Expense | - | 77.79 | 85.03 | 94.32 | 106.52 |
| Research And Development | - | 6.96 | 6.22 | 9.43 | 11.01 |
| Selling General And Administration | - | 70.83 | 78.81 | 84.89 | 95.40 |
| Total Expenses | - | 525.36 | 636.79 | 833.58 | 886.46 |
| Operating Income | - | 7.22 | 62.52 | 178.77 | 217.86 |
| Total Operating Income As Reported | - | 7.22 | 62.52 | 178.77 | 217.86 |
| EBITDA | - | 16.58 | 71.13 | 185.64 | 225.12 |
| Normalized EBITDA | - | 16.58 | 71.13 | 185.64 | 225.12 |
| EBIT | - | 7.22 | 62.52 | 178.77 | 217.86 |
| Interest Income | - | 0.33 | 6.43 | 17.32 | 15.69 |
| Interest Expense | 0.20 | - | - | - | - |
| Net Interest Income | - | 0.33 | 6.43 | 17.32 | 15.69 |
| Other Non Operating Income Expenses | - | 2.28 | - | - | - |
| Other Income Expense | - | 2.28 | - | - | - |
| Interest Income Non Operating | - | 0.33 | 6.43 | 17.32 | 15.69 |
| Interest Expense Non Operating | 0.20 | - | - | - | - |
| Net Non Operating Interest Income Expense | - | 0.33 | 6.43 | 17.32 | 15.69 |
| Pretax Income | - | 9.84 | 68.95 | 196.09 | 233.55 |
| Tax Provision | - | -3.89 | 14.42 | 46.24 | 52.80 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 13.74 | 54.52 | 149.85 | 180.75 |
| Net Income From Continuing And Discontinued Operation | - | 13.74 | 54.52 | 149.85 | 180.75 |
| Net Income From Continuing Operation Net Minority Interest | - | 13.74 | 54.52 | 149.85 | 180.75 |
| Net Income | - | 13.74 | 54.52 | 149.85 | 180.75 |
| Net Income Common Stockholders | - | 13.74 | 54.52 | 149.85 | 180.75 |
| Net Income Including Noncontrolling Interests | - | 13.74 | 54.52 | 149.85 | 180.75 |
| Normalized Income | - | 13.74 | 54.52 | 149.85 | 180.75 |
| Diluted NI Availto Com Stockholders | - | 13.74 | 54.52 | 149.85 | 180.75 |
| Basic Average Shares | - | 35.39 | 35.64 | 35.95 | 36.19 |
| Diluted Average Shares | - | 35.83 | 36.36 | 36.56 | 36.50 |
| Reconciled Depreciation | - | 9.36 | 8.61 | 6.87 | 7.26 |
| Reconciled Cost Of Revenue | - | 447.56 | 543.15 | 732.40 | 772.78 |
| Total Unusual Items | 0 | 0 | - | - | - |
| Total Unusual Items Excluding Goodwill | 0 | 0 | - | - | - |
| Special Income Charges | 0 | 0 | - | - | - |
| Restructuring And Mergern Acquisition | 0 | 0 | - | - | - |
| Depreciation Amortization Depletion Income Statement | - | 0 | 0 | 0 | 0.11 |
| Depreciation And Amortization In Income Statement | - | 0 | 0 | 0 | 0.11 |
| Amortization | - | 0 | 0 | 0 | 0.11 |
| Amortization Of Intangibles Income Statement | - | 0 | 0 | 0 | 0.11 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Powell Industries, Inc.this co. | POWL | $10.9B | 60.48↑ premium | 17.06 | 28.2% | 46.56 |
| Argan, Inc. | AGX | $9.6B | 69.86 | 20.82 | 29.8% | 65.93 |
| Builders FirstSource, Inc. | BLDR | $8.1B | 18.53 | 1.85 | 10.0% | 9.42 |
| Zurn Elkay Water Solutions Corporation | ZWS | $7.9B | 40.15 | 4.96 | 12.3% | 21.96 |
| Everus Construction Group, Inc. | ECG |
| - |
| - |
| - |
| - |
| - |
| - |
| $7.9B |
| 39.15 |
| 12.54 |
| 32.0% |
| 26.30 |
| A. O. Smith Corporation | AOS | $7.9B | 14.39 | 4.23 | 29.4% | 9.66 |
| Mercury Systems, Inc. | MRCY | $7.1B | -186.64 | 4.80 | -2.6% | 113.93 |
| MYR Group Inc. | MYRG | $7.0B | 59.36 | 10.64 | 17.9% | 29.91 |
| Primoris Services Corporation | PRIM | $6.9B | 25.19 | 4.12 | 16.4% | 14.55 |
| Peer Median | - | 32.17 | 4.88 | 17.1% | 24.13 | |