Hubbell Incorporated (HUBB) 10-Year Financial Performance & Capital Metrics

HUBB • • Industrial / General

IndustrialsElectrical EquipmentElectrical Infrastructure ProductsElectrical Enclosures & Protection

AboutHubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical Solution and Utility Solution. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies for the natural gas distribution market. It also designs and manufactures various industrial controls, and communication systems for use in the non-residential and industrial markets, as well as in the oil and gas, and mining industries. This segment sells its products through electrical and industrial distributors, home centers, retail and hardware outlets, lighting showrooms, and residential product-oriented Internet sites; and special application products primarily through wholesale distributors to contractors, industrial customers, and original equipment manufacturers. The Utility Solution segment designs, manufactures, and sells distribution, transmission, substation, and telecommunications products, such as arresters, insulators, connectors, anchors, bushings, and enclosures; and utility infrastructure products, including smart meters, communications systems, and protection and control devices. This segment sells its products to distributors, as well as directly to users, such as utilities, telecommunication companies, industrial firms, and construction and engineering firms. Its brand portfolio includes Hubbell, Kellems, Bryant, Burndy, CMC, Bell, TayMac, Wiegmann, Killark, Hawke, Aclara, Fargo, Quazite, Hot Box, etc. The company was founded in 1888 and is headquartered in Shelton, Connecticut.Show more

Revenue $5.63B +4.8%
EBITDA $1.3B +9.7%
Net Income $778M +2.4%
EPS (Diluted) 14.37 +2.4%
Gross Margin 33.83% -3.7%
EBITDA Margin 23.16% +4.7%
Operating Margin 19.39% +0.3%
Net Margin 13.82% -2.3%
ROE 25.2% -12.8%
ROIC 17.21% -8.0%
Debt/Equity 0.52 -33.9%
Interest Coverage 14.79 -47.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 25.9%
✓Strong 5Y profit CAGR of 16.6%
✓Strong Piotroski F-Score: 7/9
✓11 consecutive years of dividend growth
✓High quality earnings: Operating CF exceeds net income
✓Healthy 5Y average net margin of 11.6%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.3%

5Y7.36%

3Y10.3%

TTM0.82%

Profit (Net Income) CAGR

10Y9.11%

5Y16.56%

3Y24.87%

TTM14.65%

EPS CAGR

10Y10.12%

5Y14.51%

3Y25.44%

TTM15.47%

ROCE

10Y Avg16.37%

5Y Avg16.45%

3Y Avg19.15%

Latest19.86%

Peer Comparison

Electrical Enclosures & Protection

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
RFILRF Industries, Ltd.	94.71M	8.84	884	24.25%	-0.44%	-0.97%	4.59%	0.76
NVTnVent Electric plc	17.42B	107.98	54.81	12.63%	16.83%	16.59%	3.27%	0.70
KEKimball Electronics, Inc.	763.74M	31.38	46.15	-13.29%	1.62%	4.14%	19.67%	0.26
HUBBHubbell Incorporated	25.73B	484.11	33.69	4.76%	15.24%	23.39%	3.15%	0.52
CCTGCCSC Technology International Holdings Limited Ordinary Shares	3.96M	0.12	-0.97	19.55%	-11.73%	-25.59%		0.12
SKYXSKYX Platforms Corp.	276.64M	2.39	-6.64	46.76%	-39.12%	-30.58%		4.35
ATKRAtkore Inc.	2.39B	70.84	-157.42	-10.98%	-0.53%	-1.09%	12.37%	0.66

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	3.39B	3.51B	3.67B	4.48B	3.95B	3.68B	4.19B	4.95B	5.37B	5.63B
Revenue Growth %	0.01%	0.03%	0.05%	0.22%	-0.12%	-0.07%	0.14%	0.18%	0.09%	0.05%
Cost of Goods Sold+	2.3B	2.4B	2.51B	3.18B	2.77B	2.6B	3.04B	3.48B	3.48B	3.72B
COGS % of Revenue	0.68%	0.68%	0.69%	0.71%	0.7%	0.71%	0.73%	0.7%	0.65%	0.66%
Gross Profit+	1.09B	1.11B	1.16B	1.3B	1.17B	1.09B	1.15B	1.47B	1.89B	1.9B
Gross Margin %	0.32%	0.32%	0.31%	0.29%	0.3%	0.29%	0.27%	0.3%	0.35%	0.34%
Gross Profit Growth %	-0.02%	0.01%	0.05%	0.13%	-0.1%	-0.07%	0.06%	0.28%	0.28%	0.01%
Operating Expenses+	617.2M	615.3M	636.3M	743.5M	644.9M	591.3M	619.2M	762.5M	849.6M	812.5M
OpEx % of Revenue	0.18%	0.18%	0.17%	0.17%	0.16%	0.16%	0.15%	0.15%	0.16%	0.14%
Selling, General & Admin	617.2M	615.3M	636.3M	743.5M	644.9M	591.3M	619.2M	762.5M	849.6M	812.5M
SG&A % of Revenue	0.18%	0.18%	0.17%	0.17%	0.16%	0.16%	0.15%	0.15%	0.16%	0.14%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	474.6M	489.8M	518.8M	556.9M	526.7M	494.5M	532.3M	709.1M	1.04B	1.09B
Operating Margin %	0.14%	0.14%	0.14%	0.12%	0.13%	0.13%	0.13%	0.14%	0.19%	0.19%
Operating Income Growth %	-0.08%	0.03%	0.06%	0.07%	-0.05%	-0.06%	0.08%	0.33%	0.46%	0.05%
EBITDA+	559.8M	580.7M	617M	705.3M	664.6M	639M	681.4M	857.6M	1.19B	1.3B
EBITDA Margin %	0.17%	0.17%	0.17%	0.16%	0.17%	0.17%	0.16%	0.17%	0.22%	0.23%
EBITDA Growth %	-0.06%	0.04%	0.06%	0.14%	-0.06%	-0.04%	0.07%	0.26%	0.39%	0.1%
D&A (Non-Cash Add-back)	85.2M	90.9M	98.2M	148.4M	137.9M	144.5M	149.1M	148.5M	149.7M	212.1M
EBIT	449.6M	473.8M	488M	539.4M	537.8M	484.6M	514M	706.6M	1.02B	1.08B
Net Interest Income+	-31M	-43.4M	-44.9M	-72.4M	-68.6M	-60.1M	-54.7M	-49.6M	-36.7M	-73.8M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	31M	43.4M	44.9M	72.4M	68.6M	60.1M	54.7M	49.6M	36.7M	73.8M
Other Income/Expense	-56M	-59.4M	-75.7M	-89.9M	-57.5M	-70M	-73M	-52.1M	-55.2M	-86.3M
Pretax Income+	418.6M	430.4M	443.1M	467M	469.2M	424.5M	459.3M	657M	983.3M	1.01B
Pretax Margin %	0.12%	0.12%	0.12%	0.1%	0.12%	0.12%	0.11%	0.13%	0.18%	0.18%
Income Tax+	136.5M	132.6M	193.2M	100.9M	101.2M	89.8M	88.2M	140.2M	217.3M	221.8M
Effective Tax Rate %	0.66%	0.68%	0.55%	0.77%	0.77%	0.83%	0.87%	0.83%	0.77%	0.77%
Net Income+	277.3M	293M	243.1M	360.2M	361.5M	351.2M	399.5M	545.9M	759.8M	777.8M
Net Margin %	0.08%	0.08%	0.07%	0.08%	0.09%	0.1%	0.1%	0.11%	0.14%	0.14%
Net Income Growth %	-0.15%	0.06%	-0.17%	0.48%	0%	-0.03%	0.14%	0.37%	0.39%	0.02%
Net Income (Continuing)	282.1M	297.8M	249.9M	366.1M	368M	334.7M	371.1M	516.8M	766M	783.5M
Discontinued Operations	0	0	0	0	39.4M	21.2M	34.5M	34.6M	0	0
Minority Interest	8.4M	10.4M	13.7M	18.3M	13.4M	15.4M	10.9M	9.7M	12.3M	14.4M
EPS (Diluted)+	4.77	5.24	4.39	6.56	7.30	6.42	7.28	9.43	14.04	14.37
EPS Growth %	-0.13%	0.1%	-0.16%	0.49%	0.11%	-0.12%	0.13%	0.3%	0.49%	0.02%
EPS (Basic)	4.79	5.26	4.42	6.60	7.34	6.46	7.34	9.49	14.14	14.46
Diluted Shares Outstanding	58M	55.7M	55.1M	54.9M	54.7M	54.5M	54.7M	54.1M	54M	54M
Basic Shares Outstanding	57.7M	55.5M	54.8M	54.6M	54.4M	54.2M	54.3M	53.7M	53.6M	54M
Dividend Payout Ratio	0.48%	0.49%	0.65%	0.48%	0.52%	0.57%	0.54%	0.42%	0.32%	0.34%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.39B	1.55B	1.6B	1.64B	1.57B	1.59B	1.88B	2.02B	2.17B	2.09B
Cash & Short-Term Investments	355.7M	448.8M	389.5M	198.2M	196.2M	267.9M	295.6M	454.8M	348.7M	345M
Cash Only	343.5M	437.6M	375M	189M	182M	258.6M	286.2M	440.5M	336.1M	329.1M
Short-Term Investments	12.2M	11.2M	14.5M	9.2M	14.2M	9.3M	9.4M	14.3M	12.6M	15.9M
Accounts Receivable	487.9M	545.1M	559.4M	751.6M	683M	553.3M	675.3M	741.6M	785.4M	756M
Days Sales Outstanding	52.53	56.76	55.65	61.21	63.17	54.84	58.77	54.71	53.35	49.03
Inventory	540M	532.4M	634.7M	651M	633M	526.7M	662.1M	740.7M	832.9M	841.8M
Days Inventory Outstanding	85.75	80.97	92.16	74.69	83.26	74.03	79.43	77.77	87.24	82.5
Other Current Assets	25.5M	40.1M	39.6M	69.1M	62M	239.7M	246.3M	84.3M	200.2M	146.5M
Total Non-Current Assets+	1.82B	1.97B	2.12B	3.23B	3.33B	3.5B	3.4B	3.38B	4.75B	4.59B
Property, Plant & Equipment	419.7M	439.8M	458.3M	502.1M	505.2M	438.7M	459.5M	528M	652.6M	726.6M
Fixed Asset Turnover	8.08x	7.97x	8.01x	8.93x	7.81x	8.39x	9.13x	9.37x	8.23x	7.75x
Goodwill	928.5M	991M	1.09B	1.78B	1.81B	1.87B	1.87B	1.97B	2.53B	2.5B
Intangible Assets	372.2M	431.5M	460.4M	819.5M	781.5M	770.6M	681.5M	669.9M	1.2B	1.08B
Long-Term Investments	49.5M	56.4M	57.7M	56.3M	55.7M	71.1M	69.1M	65.9M	75.8M	84.9M
Other Non-Current Assets	51M	55M	51.1M	66.1M	174.6M	344M	320.8M	146.9M	289M	197.5M
Total Assets+	3.21B	3.52B	3.72B	4.87B	4.9B	5.09B	5.28B	5.4B	6.91B	6.68B
Asset Turnover	1.06x	0.99x	0.99x	0.92x	0.80x	0.72x	0.79x	0.92x	0.78x	0.84x
Asset Growth %	-0.03%	0.1%	0.06%	0.31%	0.01%	0.04%	0.04%	0.02%	0.28%	-0.03%
Total Current Liabilities+	603.1M	589.6M	706.1M	839.3M	844.9M	948.2M	1.07B	1.09B	1.32B	1.27B
Accounts Payable	289.5M	291.6M	326.5M	393.7M	347.7M	339.2M	532.8M	529.9M	563.5M	541.7M
Days Payables Outstanding	45.97	44.35	47.41	45.17	45.73	47.68	63.92	55.64	59.02	53.09
Short-Term Debt	48.2M	3.2M	68.1M	56.1M	65.4M	153.1M	9.7M	4.7M	117.4M	125.4M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	0	0	0	15.3M	19M	95.6M	108M	14.8M	42.7M	20.1M
Current Ratio	2.30x	2.63x	2.27x	1.96x	1.86x	1.67x	1.76x	1.86x	1.64x	1.64x
Quick Ratio	1.41x	1.73x	1.37x	1.18x	1.11x	1.12x	1.14x	1.18x	1.01x	0.98x
Cash Conversion Cycle	92.3	93.38	100.41	90.73	100.69	81.2	74.28	76.84	81.57	78.44
Total Non-Current Liabilities+	856.6M	1.33B	1.37B	2.23B	2.1B	2.05B	1.98B	1.94B	2.7B	2.12B
Long-Term Debt	595.9M	990.5M	987.1M	1.74B	1.51B	1.44B	1.44B	1.44B	2.02B	1.44B
Capital Lease Obligations	0	0	0	0	71.7M	71.9M	58.3M	84.9M	118.8M	117.3M
Deferred Tax Liabilities	36.1M	41.2M	23.7M	120M	126.8M	126.8M	114.7M	113.8M	240.3M	236.4M
Other Non-Current Liabilities	224.6M	300.5M	355.8M	376.8M	393.1M	415.9M	367.1M	306.9M	319M	325.8M
Total Liabilities	1.46B	1.92B	2.07B	3.07B	2.94B	3B	3.04B	3.03B	4.02B	3.4B
Total Debt+	644.1M	993.7M	1.06B	1.79B	1.67B	1.69B	1.53B	1.56B	2.29B	1.72B
Net Debt	300.6M	556.1M	680.2M	1.6B	1.49B	1.43B	1.24B	1.12B	1.95B	1.39B
Debt / Equity	0.37x	0.62x	0.64x	1.00x	0.85x	0.81x	0.68x	0.66x	0.79x	0.52x
Debt / EBITDA	1.15x	1.71x	1.71x	2.54x	2.52x	2.65x	2.25x	1.82x	1.93x	1.32x
Net Debt / EBITDA	0.54x	0.96x	1.10x	2.27x	2.24x	2.24x	1.83x	1.30x	1.64x	1.07x
Interest Coverage	15.31x	11.29x	11.55x	7.69x	7.68x	8.23x	9.73x	14.30x	28.30x	14.79x
Total Equity+	1.75B	1.6B	1.65B	1.8B	1.96B	2.09B	2.24B	2.37B	2.89B	3.28B
Equity Growth %	-0.1%	-0.08%	0.03%	0.09%	0.09%	0.06%	0.07%	0.06%	0.22%	0.14%
Book Value per Share	30.16	28.78	29.91	32.77	35.84	38.26	40.96	43.82	53.51	60.79
Total Shareholders' Equity	1.74B	1.59B	1.63B	1.78B	1.95B	2.07B	2.23B	2.36B	2.88B	3.27B
Common Stock	600K	600K	600K	600K	600K	600K	600K	600K	600K	600K
Retained Earnings	1.89B	1.88B	1.89B	2.06B	2.28B	2.39B	2.56B	2.71B	3.18B	3.65B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-224.2M	-302.5M	-269.8M	-285.7M	-332.9M	-329.2M	-330.8M	-345.2M	-312.4M	-386.5M
Minority Interest	8.4M	10.4M	13.7M	18.3M	13.4M	15.4M	10.9M	9.7M	12.3M	14.4M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	331.1M	398.2M	379M	517.1M	591.6M	648M	543.8M	583.2M	880.8M	991.2M
Operating CF Margin %	0.1%	0.11%	0.1%	0.12%	0.15%	0.18%	0.13%	0.12%	0.16%	0.18%
Operating CF Growth %	-0.15%	0.2%	-0.05%	0.36%	0.14%	0.1%	-0.16%	0.07%	0.51%	0.13%
Net Income	277.3M	293M	243.1M	360.2M	400.9M	351.2M	365M	511.3M	766M	783.5M
Depreciation & Amortization	85.2M	92.3M	99.8M	148.4M	151M	157.6M	149.1M	148.5M	149.7M	212.1M
Stock-Based Compensation	17M	22.3M	22.3M	24.2M	16.4M	21.9M	17.5M	24.5M	26.5M	30.6M
Deferred Taxes	-4.5M	12.7M	-14.3M	49M	6.1M	3.3M	9.2M	-27.8M	-16.2M	1.7M
Other Non-Cash Items	-11.6M	-12M	57.1M	-39.1M	-5M	25.1M	58.9M	-29.6M	-12M	-13.2M
Working Capital Changes	-32.3M	-10.1M	-29M	-25.6M	22.2M	88.9M	-53.5M	-43.7M	-33.2M	-23.5M
Change in Receivables	1.9M	-42.3M	3.9M	-75.4M	46.2M	55.5M	-124.8M	-74.2M	-1.9M	22.2M
Change in Inventory	-80.8M	18.4M	-90.3M	34.2M	12.2M	50.7M	-138.9M	-66.5M	-42.1M	-22.7M
Change in Payables	40.5M	5.4M	6.7M	21.5M	-41.2M	22.6M	195.1M	-15.3M	13.2M	-13.6M
Cash from Investing+	-249.2M	-230M	-245.6M	-1.2B	-128.9M	-328.8M	-77.8M	16.4M	-1.38B	-59.1M
Capital Expenditures	-77.1M	-67.2M	-79.7M	-96.2M	-93.9M	-88.4M	-90.2M	-129.3M	-165.7M	-180.4M
CapEx % of Revenue	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.03%	0.03%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	2M	17.3M	21.7M	8.9M	4M	5.4M	3.7M	700K	800K	120.6M
Cash from Financing+	-371.1M	-46.8M	-214.3M	506.5M	-471M	-244.2M	-433M	-437.1M	388.5M	-923.4M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-133.7M	-144M	-157.6M	-172.3M	-186.6M	-201.4M	-216.9M	-229.6M	-245.5M	-267.3M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-205.1M	900K	-16.5M	-22.7M	-24.3M	-17.1M	-44.1M	-20.7M	-33.8M	-39M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	254M	331M	299.3M	420.9M	497.7M	559.6M	453.6M	453.9M	715.1M	810.8M
FCF Margin %	0.07%	0.09%	0.08%	0.09%	0.13%	0.15%	0.11%	0.09%	0.13%	0.14%
FCF Growth %	-0.23%	0.3%	-0.1%	0.41%	0.18%	0.12%	-0.19%	0%	0.58%	0.13%
FCF per Share	4.38	5.94	5.43	7.67	9.10	10.27	8.29	8.39	13.24	15.01
FCF Conversion (FCF/Net Income)	1.19x	1.36x	1.56x	1.44x	1.64x	1.85x	1.36x	1.07x	1.16x	1.27x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	15.05%	17.48%	14.95%	20.9%	19.23%	17.36%	18.47%	23.68%	28.89%	25.2%
Return on Invested Capital (ROIC)	18.13%	17.46%	17.34%	14.58%	11.53%	10.64%	11.4%	15.25%	18.7%	17.21%
Gross Margin	32.2%	31.53%	31.48%	29.02%	29.69%	29.49%	27.46%	29.74%	35.14%	33.83%
Net Margin	8.18%	8.36%	6.63%	8.04%	9.16%	9.54%	9.53%	11.03%	14.14%	13.82%
Debt / Equity	0.37x	0.62x	0.64x	1.00x	0.85x	0.81x	0.68x	0.66x	0.79x	0.52x
Interest Coverage	15.31x	11.29x	11.55x	7.69x	7.68x	8.23x	9.73x	14.30x	28.30x	14.79x
FCF Conversion	1.19x	1.36x	1.56x	1.44x	1.64x	1.85x	1.36x	1.07x	1.16x	1.27x
Revenue Growth	0.92%	3.39%	4.67%	22.16%	-11.94%	-6.69%	13.89%	17.97%	8.59%	4.76%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Utility Solutions	-	-	-	-	-	1.92B	2.33B	2.87B	3.26B	3.6B
Utility Solutions Growth	-	-	-	-	-	-	21.43%	22.99%	13.60%	10.39%
Electrical	2.39B	2.46B	2.53B	2.66B	2.63B	2.26B	1.86B	2.08B	2.11B	2.03B
Electrical Growth	-	3.01%	2.95%	5.05%	-1.31%	-13.79%	-17.84%	11.67%	1.66%	-3.95%

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	3.01B	3.15B	3.28B	4.04B	3.55B	3.36B	3.81B	4.54B	4.92B	5.16B
UNITED STATES Growth	-	4.62%	4.24%	23.16%	-12.24%	-5.34%	13.49%	19.07%	8.51%	4.81%
Non-US	382M	357.8M	387.9M	441.1M	400.5M	325.6M	384.3M	411.5M	450.5M	469.2M
Non-US Growth	-	-6.34%	8.41%	13.71%	-9.20%	-18.70%	18.03%	7.08%	9.48%	4.15%

Frequently Asked Questions

Valuation & Price

Hubbell Incorporated (HUBB) has a price-to-earnings (P/E) ratio of 33.7x. This suggests investors expect higher future growth.

Growth & Financials

Hubbell Incorporated (HUBB) reported $5.69B in revenue for fiscal year 2024. This represents a 98% increase from $2.87B in 2011.

Hubbell Incorporated (HUBB) grew revenue by 4.8% over the past year. Growth has been modest.

Yes, Hubbell Incorporated (HUBB) is profitable, generating $866.4M in net income for fiscal year 2024 (13.8% net margin).

Dividend & Returns

Yes, Hubbell Incorporated (HUBB) pays a dividend with a yield of 1.02%. This makes it attractive for income-focused investors.

Hubbell Incorporated (HUBB) has a return on equity (ROE) of 25.2%. This is excellent, indicating efficient use of shareholder capital.

Hubbell Incorporated (HUBB) generated $850.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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