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, IngΓ©nia, 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.
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 | $2.3B | $485M | $244M | $241M | 10.9% | 14.2% | 21.7% |
| 2024 | $2.0B | $393M | $201M | $248M | 14.5% | 13.9% | 123.0% |
| 2023 | $1.7B | $277M | $90M | $185M | 7.5% | 19.2% | 44850.0% |
| 2022 | $1.5B | $83M | $0M | $-153M | 0.0% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,460.90 | 1,741.20 | 1,983.90 | 2,265.10 |
| Operating Revenue | - | 1,460.90 | 1,741.20 | 1,983.90 | 2,265.10 |
| Cost Of Revenue | - | 937 | 1,071.20 | 1,184.50 | 1,347.40 |
| Gross Profit | - | 523.90 | 670 | 799.40 | 917.70 |
| Operating Expense | - | 459.10 | 447.30 | 487.50 | 565.50 |
| Selling General And Administration | - | 355.70 | 394.40 | 414.60 | 477.60 |
| Total Expenses | - | 1,396.10 | 1,518.50 | 1,672 | 1,912.90 |
| Operating Income | - | 64.80 | 222.70 | 311.90 | 352.20 |
| Total Operating Income As Reported | - | 51 | 221.90 | 308.30 | 350.40 |
| EBITDA | - | 82.80 | 276.70 | 392.70 | 484.80 |
| Normalized EBITDA | - | 97.70 | 277.50 | 396.30 | 488.10 |
| EBIT | - | 36.40 | 213.50 | 301.10 | 362.20 |
| Interest Income | - | 1.70 | 1.70 | 2.10 | 4.80 |
| Interest Expense | - | 9.30 | 27.20 | 45.70 | 48.10 |
| Net Interest Income | - | -7.60 | -25.50 | -43.60 | -43.30 |
| Other Non Operating Income Expenses | - | -15.20 | -10.10 | -9.30 | 8.50 |
| Other Income Expense | - | -30.10 | -10.90 | -12.90 | 5.20 |
| Interest Income Non Operating | - | 1.70 | 1.70 | 2.10 | 4.80 |
| Interest Expense Non Operating | - | 9.30 | 27.20 | 45.70 | 48.10 |
| Net Non Operating Interest Income Expense | - | -7.60 | -25.50 | -43.60 | -43.30 |
| Pretax Income | - | 27.10 | 186.30 | 255.40 | 314.10 |
| Tax Provision | - | 7.30 | 41.60 | 53.60 | 68.60 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -4.01 | -0.18 | -0.76 | -0.72 |
| Net Income Continuous Operations | - | 19.80 | 144.70 | 201.80 | 245.50 |
| Net Income From Continuing And Discontinued Operation | - | 0.20 | 89.90 | 200.50 | 244 |
| Net Income From Continuing Operation Net Minority Interest | - | 19.80 | 144.70 | 201.80 | 245.50 |
| Net Income | - | 0.20 | 89.90 | 200.50 | 244 |
| Net Income Common Stockholders | - | 0.20 | 89.90 | 200.50 | 244 |
| Net Income Including Noncontrolling Interests | - | 0.20 | 89.90 | 200.50 | 244 |
| Normalized Income | - | 30.69 | 145.32 | 204.64 | 248.08 |
| Diluted NI Availto Com Stockholders | - | 0.20 | 89.90 | 200.50 | 244 |
| Basic Average Shares | - | 45.34 | 45.54 | 46.19 | 47.83 |
| Diluted Average Shares | - | 46.22 | 46.61 | 47.08 | 48.51 |
| Reconciled Depreciation | - | 46.40 | 63.20 | 91.60 | 122.60 |
| Reconciled Cost Of Revenue | - | 919.10 | 1,051.90 | 1,157.40 | 1,312.20 |
| Total Unusual Items | - | -14.90 | -0.80 | -3.60 | -3.30 |
| Total Unusual Items Excluding Goodwill | - | -14.90 | -0.80 | -3.60 | -3.30 |
| Minority Interests | 0 | - | - | - | - |
| Net Income Discontinuous Operations | - | -19.60 | -54.80 | -1.30 | -1.50 |
| Special Income Charges | - | -14.90 | -0.80 | -3.60 | -3.30 |
| Other Special Charges | 0.20 | 1.10 | - | - | 1.50 |
| Impairment Of Capital Assets | - | 13.70 | 0 | 0.90 | 1.30 |
| Restructuring And Mergern Acquisition | - | 0.10 | 0.80 | 2.70 | 0.50 |
| Depreciation Amortization Depletion Income Statement | - | 28.50 | 43.90 | 64.50 | 87.40 |
| Depreciation And Amortization In Income Statement | - | 28.50 | 43.90 | 64.50 | 87.40 |
| Other Operating Expenses | - | 74.90 | 9 | 8.40 | 0.50 |
| Amortization | - | 28.50 | 43.90 | 64.50 | 87.40 |
| Amortization Of Intangibles Income Statement | - | 28.50 | 43.90 | 64.50 | 87.40 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| SPX Technologies, Inc.this co. | SPXC | $11.8B | 48.45β discount | 5.28 | 10.9% | 24.67 |
| Dycom Industries, Inc. | DY | $14.7B | 52.18 | 7.89 | 15.1% | 24.09 |
| Legence Corp. | LGN | $14.6B | -244.26 | 20.78 | -8.5% | 96.52 |
| Advanced Energy Industries, Inc. | AEIS | $12.8B | 86.52 | 9.42 | 10.9% | 52.10 |
| Kratos Defense & Security Solutions, Inc. | KTOS |
| - |
| - |
| - |
| - |
| - |
| - |
| $11.9B |
| 540.40 |
| 5.96 |
| 1.1% |
| 111.51 |
| Joby Aviation, Inc. | JOBY | $11.0B | -11.78 | 7.77 | -66.0% | -15.83 |
| Watts Water Technologies, Inc. | WTS | $10.5B | 30.87 | 5.19 | 16.8% | 20.02 |
| AeroVironment, Inc. | AVAV | $10.3B | 237.14 | 11.67 | 4.9% | 125.13 |
| Chart Industries, Inc. | GTLS | $9.9B | 244.09 | 3.08 | 1.3% | 21.83 |
| Peer Median | - | 69.35 | 7.83 | 3.1% | 38.09 | |