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POWLPowell Industries, Inc.
$281.09$10.2B
Overview & Verdict
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HomeStocksPOWLBalance Sheet

Powell Industries, Inc. (POWL) Balance Sheet

30Y historyFree accessUpdated daily

The company maintains a pristine capital structure with zero long-term debt and a robust cash position of $537.7 million as of 2026Q2.

POWL Balance Sheet

Income StatementBalance SheetCash FlowRatios
AnnualQuarterly
MetricTTMSep'25Sep'24Sep'23Sep'22Sep'21Sep'20Sep'19Sep'18Sep'17Sep'16Sep'15Sep'14Sep'13Sep'12Sep'11Sep'10Sep'09Sep'08Sep'07Sep'06Oct'05Oct'04Oct'03Oct'02Oct'01Oct'00Oct'99Oct'98Oct'97Oct'96
Total Current Assets1.01B931.72M776.48M621.99M369.98M302.46M335.66M328.57M276.66M250.07M304.14M297.1M357.33M357.34M346.41M336.68M302.19M315M303.44M236.89M193.5M162.18M145.62M141.31M138.5M142.58M99.97M87.8M89M90M79.1M
Cash & Short-Term Investments544.89M475.53M358.39M279.01M116.51M133.98M178.92M124.68M49.75M95.19M97.72M43.57M103.12M107.41M90.04M123.47M115.35M97.4M10.13M5.26M10.49M33.04M63.18M42.32M14.36M6.52M2.11M10.6M600K2.2M8.9M
Cash Only537.71M450.74M315.33M245.88M101.95M114.31M160.22M118.64M36.58M68.36M97.72M43.57M103.12M107.41M90.04M123.47M115.35M97.4M10.13M5.26M10.49M24.84M8.97M36.79M14.36M6.52M2.11M10.6M600K2.2M8.9M
Short-Term Investments7.18M24.79M43.06M33.13M14.55M19.67M18.7M6.04M13.17M26.83M000000000008.2M54.21M5.53M0000000
Accounts Receivable238.31M353.74M317.29M267.31M194.57M132.66M121.42M167.7M182M113.63M168.87M207.81M205.94M194.52M212.99M113.39M98.49M114.97M132.59M177.71M151.07M101.22M63.66M78.48M102.35M113.8M78.5M59.2M69M70.7M50.9M
Days Sales Outstanding90.78116.92114.4139.52133.34102.985.47118.35148.04104.76109.04114.6116.03110.78108.473.5965.2863.0275.77114.95-143.95112.72113.06121.92153.13128.47101.68118.41134.61109.22
Inventory86.3M84.72M85.87M63.87M50.41M29.84M28.97M29.2M21.35M18.45M26.52M32.89M32.81M28.96M32.92M36.64M38.24M46.25M72.68M47.79M28.27M21.62M15.33M18.06M19.56M21.43M17.52M15.2M16.3M13.6M14.1M
Days Inventory Outstanding39.7339.6542.442.2541.1127.5324.9324.7820.3319.5121.0921.6922.9321.0420.8128.9234.1632.4251.7837.22-37.0832.8932.2529.936.473633.023735.1641.57
Other Current Assets138.88M7.13M7.44M6.38M3.81M1.6M1.95M2.65M630K4M6.46M7.83M9.59M11.55M10.46M13.84M12.04M9.88M5.45M6.13M2.4M2.64M3.45M0001.84M2.8M3.1M3.5M5.2M
Total Non-Current Assets171.65M177.27M151.7M130.26M123.4M133.73M136.62M138.84M153.29M164.91M158.38M171.72M184.12M173.56M101.9M84.99M98.52M89.84M94.2M104.13M99.18M64.48M50.46M49.16M51.14M43.78M37.95M39.7M38.1M32.9M20.4M
Property, Plant & Equipment113.78M112.71M104.64M99.06M100.81M112.91M119.59M120.81M128.76M139.42M144.98M154.59M156.9M144.5M78.65M59.64M63.68M61.04M61.55M67.4M60.34M55.68M45.04M44M45.02M37.41M31.38M33.3M32.3M26.4M14.6M
Fixed Asset Turnover10.05x9.80x9.67x7.06x5.28x4.17x4.34x4.28x3.48x2.84x3.90x4.28x4.13x4.44x9.12x9.43x8.65x10.91x10.38x8.37x-4.61x4.58x5.76x6.81x7.25x7.11x6.38x6.59x7.26x11.65x
Goodwill6.04M6.13M1M1M1M1M1M1M1M1M1M1M1M1M1M1M1M1.08M1.08M1.08M1.08M0000000000
Intangible Assets5.61M6.14M500K000157K334K510K716K1.06M1.39M1.9M11.61M13.32M15.85M26.13M21.3M25.01M28.86M32.26M3.71M203K00000000
Long-Term Investments500K100K00000000000000000000000000000
Other Non-Current Assets19.97M18.75M18.31M13.13M12.43M15.18M12.23M11.58M17.07M23.55M11.34M12.45M12.89M7.44M6.51M8.51M7.71M6.41M6.55M6.78M5.5M5.1M5.21M5.17M5.54M1.06M6.57M6.4M5.8M6.5M5.8M
Total Assets1.18B1.11B928.18M752.24M493.38M436.19M472.28M467.41M429.95M414.99M462.52M468.82M541.44M530.9M448.31M421.68M400.71M404.84M397.63M341.01M292.68M226.66M196.08M190.48M189.64M186.36M137.93M127.5M127.1M122.9M99.5M
Asset Turnover1.02x1.00x1.09x0.93x1.08x1.08x1.10x1.11x1.04x0.95x1.22x1.41x1.20x1.21x1.60x1.33x1.37x1.64x1.61x1.65x-1.13x1.05x1.33x1.62x1.46x1.62x1.67x1.67x1.56x1.71x
Asset Growth %81.56%19.48%23.39%52.47%13.11%-7.64%1.04%8.71%3.61%-10.28%-1.35%-13.41%1.99%18.42%6.32%5.23%-1.02%1.81%16.6%16.52%29.13%15.6%2.94%0.44%1.76%35.12%8.18%0.31%3.42%23.52%2.68%
Total Current Liabilities447.28M446.39M428.01M395.69M186.37M121.16M152.95M157.9M117.85M85.58M118.25M124.95M158.1M168.06M130.87M137.72M114.75M149.14M152.74M135.61M98.61M58.74M46.35M44.34M52.03M53.6M36.47M28.1M30.2M38.2M32.6M
Accounts Payable75.14M67.08M73.63M56.67M63.42M45.25M35.03M51.18M40.71M33.27M34.98M48.01M70.21M55.53M48.49M56.89M41.85M48.12M54.17M91.15M63.27M22.1M14.24M14.34M15.03M18.86M16.37M9.9M12.1M11.9M8.5M
Days Payables Outstanding29.5931.3936.3537.4951.7241.7630.1543.4238.7635.1827.8231.6549.0640.3430.6644.937.3833.7338.5970.98-37.9230.5425.6122.9832.133.6421.5127.4730.7625.06
Short-Term Debt880K0000400K400K400K400K400K400K400K400K416K725K1.14M1.68M4.69M7.81M8.46M8.51M2.1M474K468K4.75M1.43M1.43M2.4M1.4M03.8M
Deferred Revenue (Current)899.6M297.95M287.76M279.8M79.86M42.43M79.44M71.46M43.17M26.67M46M44.09M50.73M48.33M37.14M0000000000000000
Other Current Liabilities371.26M63.09M51.22M48.63M37.25M28.05M31.09M30.99M30.06M20.84M00017.85M044.52M31.01M44.77M39.34M1.67M733K16.93M16.53M15.21M13.48M14.86M18.66M15.8M16.7M26.3M20.3M
Current Ratio2.25x2.09x1.81x1.57x1.99x2.50x2.19x2.08x2.35x2.92x2.57x2.38x2.26x2.13x2.65x2.44x2.63x2.11x1.99x1.75x1.96x2.76x3.14x3.19x2.66x2.66x2.74x3.12x2.95x2.36x2.43x
Quick Ratio2.06x1.90x1.61x1.41x1.71x2.25x2.01x1.90x2.17x2.71x2.35x2.11x2.05x1.95x2.40x2.18x2.30x1.80x1.51x1.39x1.68x2.39x2.81x2.78x2.29x2.26x2.26x2.58x2.41x2.00x1.99x
Cash Conversion Cycle100.92125.17120.44144.28122.7488.6880.2699.71129.6189.08102.31104.6489.991.4898.5557.6162.0661.7188.9681.18-143.12115.06119.7128.84157.51130.83113.2127.94139.01125.73
Total Non-Current Liabilities23.69M21.83M17.09M11.53M9.8M13.81M12.71M10.36M10.46M8.11M8.95M10.61M12.25M7.61M7.34M8.61M8.66M8.48M37.78M31.56M36.86M23.23M9.68M9.77M9.4M23.39M7.37M8.6M13.6M8.4M3.7M
Long-Term Debt1.07M00000400K800K1.2M1.6M2M2.4M2.8M3.2M3.63M4.3M5.2M4.8M33.94M27.37M33.89M19.44M6.63M6.89M7.26M21.29M5.71M7.1M11.6M6M0
Capital Lease Obligations2.06M782K621K663K545K2.41M3.43M000000000000000000000000
Deferred Tax Liabilities19.83M5.3M2.71M0000000138K00000000000000000000
Other Non-Current Liabilities17.35M15.75M13.76M10.87M9.26M11.4M8.87M9.56M9.26M6.51M6.31M5.67M4.88M4.41M3.71M4.31M3.46M3.68M3.83M4.18M2.97M3.79M3.05M2.88M2.14M2.11M1.66M1.5M2M2.4M3.7M
Total Liabilities470.97M468.21M445.11M407.22M196.17M134.97M165.65M168.26M128.31M93.69M127.2M135.56M170.35M175.68M138.21M146.33M123.41M157.62M190.51M167.17M135.47M81.96M56.03M54.11M61.44M76.99M43.84M36.7M43.8M46.6M36.3M
Total Debt1.96M1.66M1.22M1.44M2.32M4.23M6.59M1.2M1.6M2M2.4M2.8M3.2M3.62M4.36M5.44M6.88M9.49M41.76M35.84M42.4M21.53M7.1M7.36M12.01M22.71M7.14M9.5M13M6M3.8M
Net Debt-535.76M-449.07M-314.12M-244.44M-99.63M-110.09M-153.63M-117.44M-34.98M-66.36M-95.32M-40.77M-99.92M-103.8M-85.69M-118.03M-108.47M-87.91M31.62M30.58M31.9M-3.31M-1.87M-29.43M-2.35M16.19M5.03M-1.1M12.4M3.8M-5.1M
Debt / Equity0.00x0.00x0.00x0.00x0.01x0.01x0.02x0.00x0.01x0.01x0.01x0.01x0.01x0.01x0.01x0.02x0.02x0.04x0.20x0.21x0.27x0.15x0.05x0.05x0.09x0.21x0.08x0.10x0.16x0.08x0.06x
Debt / EBITDA0.01x0.01x0.01x0.02x0.14x0.37x0.21x0.05x0.42x-0.08x0.08x0.08x0.06x0.07x0.30x0.12x0.13x0.77x1.20x1.67x3.97x1.20x0.39x0.36x0.87x0.46x0.63x0.62x0.28x0.20x
Net Debt / EBITDA-2.31x-1.99x-1.69x-3.44x-5.99x-9.68x-4.93x-4.99x-9.25x--3.28x-1.19x-2.41x-1.86x-1.39x-6.41x-1.83x-1.21x0.58x1.02x1.25x-0.61x-0.32x-1.56x-0.07x0.62x0.32x-0.07x0.59x0.18x-0.26x
Interest Coverage-----5.00x90.17x54.63x-36.19x-99.71x162.40x165.83x173.40x234.30x173.06x10.80x52.79x55.80x14.79x6.42x-----------
Total Equity709.07M640.77M483.07M345.03M297.21M301.22M306.63M299.15M301.64M321.3M335.32M333.26M371.1M355.23M310.1M275.34M277.3M247.22M207.12M173.85M157.21M144.69M140.05M136.36M128.21M109.37M94.09M90.8M83.3M76.3M63.2M
Equity Growth %134.6%32.64%40.01%16.09%-1.33%-1.76%2.5%-0.83%-6.12%-4.18%0.62%-10.2%4.47%14.55%12.62%-0.71%12.17%19.36%19.14%10.58%8.65%3.31%2.71%6.36%17.22%16.24%3.62%9%9.17%20.73%9.53%
Book Value per Share19.4017.5513.219.498.308.528.748.578.749.359.789.3310.269.878.677.827.917.116.035.164.864.504.334.263.993.442.982.812.582.351.93
Total Shareholders' Equity709.07M640.77M483.07M345.03M297.21M301.22M306.63M299.15M301.64M321.3M335.32M333.26M371.1M355.23M310.1M275.34M277.3M246.76M206.87M173.55M156.93M144.41M139.84M136.36M128.21M109.37M94.09M90.8M83.3M76.3M63.2M
Common Stock129K129K128K127K126K125K124K124K123K122K122K121K120K119K119K117K117K115K114K111K110K110K110K110K110K109K108K100K000
Retained Earnings710.53M629.85M462.19M325.28M283.64M282.5M294.02M289.42M291.53M310.6M331.96M328.29M331.21M313.99M271.91M242.25M244.97M219.96M180.24M154.57M144.66M136.67M134.42M132.75M125.87M107.97M94.42M87.4M80.2M73.6M60.9M
Treasury Stock0-25M-25M-25M-25M-25M-25M-25M-25M-25M-25M-21.26M00000000-525K-1.42M-2.51M-3.31M-3.92M-4.89M-4.67M0000
Accumulated OCI-28.13M-27.04M-24.36M-26.91M-29M-20.36M-24.51M-24.55M-21.78M-18.75M-23.77M-22.4M-6.5M-2.07M-379K-1.37M-1.35M-2.72M335K2.01M-89K-1.2M-1.61M-2.15M-2.19M-2.5M-2.61M-2.7M000
Minority Interest00000000000000000456K248K298K278K281K218K00000000

Key Metrics

Growth RegimeDecelerating
ProfitabilityStrong
Balance SheetFortress
Cash FlowRobust
Top Statement Risk

Project-based revenue concentration

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q2)

Fortress Balance Sheet Sustains Resilience

According to reported financial statements, Powell's total assets have expanded from $807.9 million in 2024Q1 to $1.2 billion by 2026Q2, reflecting a consistent accumulation of retained earnings that underscores the company's strengthening financial position despite the inherent cyclicality of the industrial electrical equipment sector.

The steady growth in total equity, which reached $709.1 million in 2026Q2, indicates a disciplined approach to capital retention that bolsters the firm's ability to weather potential downturns in energy infrastructure spending. This trajectory suggests that management is prioritizing balance sheet durability over aggressive leverage, effectively insulating the company from external financing risks.

Substantial Cash Reserves Provide Buffer

Based on recent quarterly filings, Powell has amassed a significant cash position of $537.7 million as of 2026Q2, representing a substantial liquidity buffer that has grown steadily from $321.4 million in 2024Q1, providing the firm with significant flexibility to navigate volatile project-based cash flow cycles.

The current ratio of 2.25 suggests a highly liquid position that far exceeds typical operational requirements for an industrial manufacturer. This liquidity profile appears to offer a strategic advantage, allowing the company to pursue counter-cyclical opportunities or manage potential delays in project milestones without the need for external credit facilities.

Retained Earnings Drive Equity Quality

As reported in financial filings, Powell's retained earnings have climbed to $710.5 million in 2026Q2, serving as the primary engine for equity growth while maintaining a clean capital structure that remains virtually devoid of long-term debt obligations or dilutive equity issuance activities.

The reliance on internally generated capital to fund growth suggests a high quality of equity that is not dependent on external market conditions or shareholder dilution. Investors should monitor whether this capital accumulation continues to be deployed efficiently, as the lack of significant reinvestment could eventually weigh on return on equity metrics.

Hidden Risks in Project Accounting

Based on the provided balance sheet data, the absence of deferred revenue in 2026Q2, compared to the $302.1 million reported in 2026Q1, warrants further investigation as it may signal a significant shift in project billing milestones or a potential slowdown in new contract intake.

The volatility in unearned revenue balances highlights the inherent risks in percentage-of-completion accounting, where headline asset growth may mask underlying project delays or billing timing issues. Analysts should remain cautious, as these fluctuations can create the appearance of liquidity strength that may not be fully representative of future revenue visibility.

POWL — Frequently Asked Questions

Quick answers to the most common questions about buying POWL stock.

What are the total assets of Powell Industries, Inc. (POWL)?

As of 2025, Powell Industries, Inc. (POWL) had total assets of $1.11B including $931.7M in current assets.

How much debt does Powell Industries, Inc. (POWL) have?

Powell Industries, Inc. (POWL) carries total debt of $1.7M, offset by $475.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.

What is the book value or shareholders' equity of Powell Industries, Inc.?

Powell Industries, Inc. (POWL) has total shareholders' equity (book value) of $640.8M ($17.55 book value per share). Book value represents the net worth of the company belonging to common stock holders.

What is Powell Industries, Inc.'s current ratio and liquidity?

Powell Industries, Inc. (POWL) reported a current ratio of 2.09x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.