Upside case
Bull case
$372+53.1%
SPXC would need investors to value it at roughly 46x earnings — about 16x more generous than today's 30x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated Jun 18, 2026
SPX Technologies, Inc. (SPXC) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
12
analysts
9 bullish · 0 bearish · 12 covering SPXC
Strong Buy
0
Buy
9
Hold
3
Sell
0
Strong Sell
0
Consensus Target
$252
+3.7% vs today
Scenario Range
$178 – $372
Model bear to bull value window
Coverage
12
Published analyst ratings
Valuation Context
30.3x
Forward P/E · Market cap $12.2B
SPXC price targets
Three scenarios for where SPXC stock could go
Current
~$243
Confidence
47 / 100
Updated
Jun 18, 2026
Where we are now
Current · $243
Bear
$178
Base
$282
Bull
$372
Market caseClosest to today
Base case
$282+16.2%
At 35x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$178-26.8%
If investor confidence fades or macro conditions deteriorate, a 8x multiple contraction could push SPXC down roughly 27% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
SPX Technologies, Inc.
SPXC · NYSEIndustrialsIndustrial - MachineryDecember year-end
SPX Technologies is an industrial equipment manufacturer that supplies infrastructure products for heating, ventilation, and cooling (HVAC) systems alongside detection and measurement equipment. It generates revenue through two main segments—HVAC (~60% of sales) and Detection & Measurement (~40%)—selling specialized equipment like cooling systems, boilers, pipe locators, and fare collection systems. The company's competitive advantage lies in its portfolio of established industrial brands—including Marley, Weil-McLain, and Radiodetection—that have strong market positions in niche infrastructure equipment segments.
Market Cap
$12.2B
Revenue TTM
$2.3B
Net Income TTM
$254M
Net Margin
10.8%
SPXC Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
92%Exceptional
12 quarters tracked
Revenue Beat Rate
58%Exceptional
vs consensus estimates
Avg EPS Surprise
+11.1%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$1.65/$1.45
Revenue
$552M/$566M
Q4 2025
EPS
$1.84/$1.60
Revenue
$593M/$626M
Q1 2026
EPS
$1.88/$1.86
Revenue
$637M/$626M
Q2 2026
EPS
$1.69/$1.55
Revenue
$567M/$558M
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $1.65/$1.45 | +13.8% | $552M/$566M | -2.4% |
| Q4 2025 | $1.84/$1.60 | +15.0% | $593M/$626M | -5.3% |
| Q1 2026 | $1.88/$1.86 | +1.1% | $637M/$626M | +1.8% |
| Q2 2026 | $1.69/$1.55 | +9.0% | $567M/$558M | +1.6% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$2.6B
+10.3% YoY
FY2
$2.8B
+9.0% YoY
EPS Outlook
FY1
$5.90
+17.4% YoY
FY2
$6.28
+6.4% YoY
Trailing FCF (TTM)$385M
FCF Margin: 16.4%
Next Earnings
July 30, 2026
Expected EPS
$1.89
Expected Revenue
$639M
SPXC beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
SPXC Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $2.2B
Product Mix
Latest annual revenue by segment or product family
Segment breakdown not available for this company.
Geographic Mix
Latest annual revenue by reported region
UNITED STATES
83.5%
+10.5% YoY
Tap, hover, or focus a slice to inspect segment detail.
UNITED STATES is the largest reported region at 83.5%, up 10.5% YoY.
SPXC Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Premium mostly justified
Fair value est. $214 — implies -11.9% from today's price.
Premium to Fair Value
11.9%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
SPXC
48.0x
vs
S&P 500
24.4x
+96% premium
vs Industrials Trailing P/E
SPXC
48.0x
vs
Industrials
25.6x
+88% premium
vs SPXC 5Y Avg P/E
Today
48.0x
vs
5Y Average
33.1x
+45% premium
Forward PE
30.3x
S&P 500
18.8x
+61%
Industrials
21.2x
+43%
5Y Avg
—
—
Trailing PE
48.0x
S&P 500
24.4x
+96%
Industrials
25.6x
+88%
5Y Avg
33.1x
+45%
PEG Ratio
2.53x
S&P 500
1.66x
+52%
Industrials
1.65x
+53%
5Y Avg
—
—
EV/EBITDA
24.5x
S&P 500
15.2x
+61%
Industrials
13.9x
+76%
5Y Avg
22.2x
+10%
Price/FCF
50.5x
S&P 500
20.7x
+144%
Industrials
20.0x
+152%
5Y Avg
27.5x
+83%
Price/Sales
5.4x
S&P 500
3.1x
+74%
Industrials
1.6x
+245%
5Y Avg
3.0x
+82%
Dividend Yield
—
S&P 500
1.91%
—
Industrials
1.21%
—
5Y Avg
—
—
| Metric | SPXC | S&P 500 | Industrials | 5Y Avg SPXC |
|---|---|---|---|---|
| Forward PE | 30.3x | 18.8x+61% | 21.2x+43% | — |
| Trailing PE | 48.0x | 24.4x+96% | 25.6x+88% | 33.1x+45% |
| PEG Ratio | 2.53x | 1.66x+52% | 1.65x+53% | — |
| EV/EBITDA | 24.5x | 15.2x+61% | 13.9x+76% | 22.2x+10% |
| Price/FCF | 50.5x | 20.7x+144% | 20.0x+152% | 27.5x+83% |
| Price/Sales | 5.4x | 3.1x+74% | 1.6x+245% | 3.0x+82% |
| Dividend Yield | — | 1.91% | 1.21% | — |
SPXC trades above S&P 500 benchmarks on 6 of 6 measured multiples — commands a broad premium across most valuation dimensions.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolSPXC Financial Health
Verdict
Strong
SPXC generates $385M in free cash flow at a 16.4% margin — 13.4% ROIC signals a durable competitive advantage.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$2.3B
Revenue Growth
TTM vs prior year
+17.4%
Gross Margin
Gross profit as a share of revenue
37.7%
Operating Margin
Operating income divided by revenue
16.9%
Net Margin
Net income divided by revenue
10.8%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$5.02
Free Cash Flow (TTM)
Cash generation after capex
$385M
FCF Margin
FCF as share of revenue — the primary cash quality signal
16.4%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
13.4%
ROA
Return on assets, trailing twelve months
7.1%
Cash & Equivalents
Liquid assets on the balance sheet
$364M
Net Debt
Total debt minus cash
$134M
Debt Serviceability
Net debt as a multiple of annual free cash flow
0.3× FCF
~0.3 years to full repayment at current FCF run-rate
ROE
Return on equity, trailing twelve months
12.4%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.0%
Dividend
—
Buyback
0.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$0
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Current diluted share count
50M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageSPXC Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated June 18, 2026
Medium
Revenue growth uncertainty
Despite raising 2026 revenue guidance, there is uncertainty around achieving sustained high growth rates given macroeconomic conditions.
Lower
Market index correlation
SPXC's performance may be influenced by broader S&P 500 trends, exposing it to general market volatility.
Medium
Earnings volatility risk
Analyst estimates show variability in future EPS and revenue growth, indicating potential earnings unpredictability.
Lower
Competitive pressures
As part of a broad index, SPXC faces competition from other leading companies, which could impact margins.
High Risk
Valuation de-rating
The stock's recent 5% gain may lead to overvaluation concerns if future growth fails to meet elevated expectations.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why SPXC Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated June 18, 2026
Olympus Max traction
SPX Technologies' Olympus Max product shows strong market traction with $50M in projected 2025 bookings.
Buy rating
Analysts rate SPXC stock as a Buy, indicating positive sentiment and growth potential.
SEC filings transparency
Comprehensive SEC filings and reporting provide clear visibility into SPX Technologies' financial health and operations.
Market performance tracking
Real-time data and investor tools allow for effective tracking of SPXC's stock performance and market trends.
S&P 500 correlation
SPXC's performance is linked to the broader S&P 500 index, benefiting from overall market growth.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
SPXC Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$242.97
52W Range Position
96%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$153.79
+58.0% from the low
52-Week High
$246.68
-1.5% from the high
1 Month
+21.20%
3 Month
+20.01%
YTD
+19.5%
1 Year
+55.7%
3Y CAGR
+42.7%
5Y CAGR
+33.6%
10Y CAGR
+31.3%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
SPXC vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
30.3x
vs 28.8x median
+5% above peer median
Revenue Growth
+10.3%
vs +8.1% median
+27% above peer median
Net Margin
10.8%
vs 7.3% median
+48% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
SPX SPXC SPX Technologies, Inc. | $12.2B | 30.3x | +10.3% | 10.8% | Buy | +3.7% |
GNR GNRC Generac Holdings Inc. | $16.4B | 31.2x | +8.1% | 4.4% | Buy | +1.3% |
FEL FELE Franklin Electric Co., Inc. | $4.6B | 22.7x | +5.5% | 6.9% | Hold | -4.0% |
AAO AAON AAON, Inc. | $11.2B | 60.4x | +11.2% | 7.3% | Buy | -13.0% |
TRM TRMK Trustmark Corporation | $2.6B | 11.4x | +10.3% | 19.3% | Hold | +1.9% |
WTS WTS Watts Water Technologies, Inc. | $11.5B | 28.8x | +7.5% | 14.3% | Hold | +1.0% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
SPXC Dividend and Capital Return
SPXC does not currently return meaningful capital to shareholders.
Dividend UnknownFCF Unknown
Total Shareholder Yield
0.0%
Dividend + buyback return per year
Buyback Yield
0.0%
Dividend Yield
—
Payout Ratio
—
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.00
Growth Streak
Consecutive years of dividend increases
0Y
3Y Div CAGR
14.5%
5Y Div CAGR
8.4%
Ex-Dividend Date
—
Payment Cadence
Semi-Annual
0 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$0
Estimated Shares Retired
0
Approx. Share Reduction
0.0%
Shares Outstanding
Current diluted share count from the screening snapshot
50M
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2015 | $0.19 | -50.0% | 0.0% | 12.1% |
| 2014 | $0.38 | +50.0% | 52.5% | 59.0% |
| 2013 | $0.25 | 0.0% | 22.5% | 25.6% |
| 2012 | $0.25 | 0.0% | 27.8% | 35.0% |
| 2011 | $0.25 | 0.0% | 0.0% | 6.9% |
FAQ
7 questionsSPXC Investor Questions
Common questions answered from live analyst data and company financials.
01Is SPX Technologies, Inc. (SPXC) stock a buy or sell in 2026?
SPX Technologies, Inc. (SPXC) is rated Buy by Wall Street analysts as of 2026. Of 12 analysts covering the stock, 9 rate it Buy or Strong Buy, 3 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $252, implying +3.7% from the current price of $243. The bear case scenario is $178 and the bull case is $372.
02What is the SPXC stock price target for 2026?
The Wall Street consensus price target for SPXC is $252 based on 12 analyst estimates. The high-end target is $261 (+7.4% from today), and the low-end target is $243 (+0.0%). The base case model target is $282.
03Is SPX Technologies, Inc. (SPXC) stock overvalued in 2026?
SPXC trades at 30.3x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals premium mostly justified. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for SPX Technologies, Inc. (SPXC) stock in 2026?
The primary risks for SPXC in 2026 are: (1) Valuation de-rating — The stock's recent 5% gain may lead to overvaluation concerns if future growth fails to meet elevated expectations. (2) Revenue growth uncertainty — Despite raising 2026 revenue guidance, there is uncertainty around achieving sustained high growth rates given macroeconomic conditions. (3) Earnings volatility risk — Analyst estimates show variability in future EPS and revenue growth, indicating potential earnings unpredictability. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is SPX Technologies, Inc.'s revenue and earnings forecast?
Analyst consensus estimates SPXC will report consensus revenue of $2.6B (+10.3% year-over-year) and EPS of $5.90 (+17.4% year-over-year) for the upcoming fiscal year. The following year, analysts project $2.8B in revenue.
06When does SPX Technologies, Inc. (SPXC) report its next earnings?
SPX Technologies, Inc. is expected to report its next earnings on approximately 2026-07-30. Consensus expects EPS of $1.89 and revenue of $639M. Over recent quarters, SPXC has beaten EPS estimates 92% of the time.
07How much free cash flow does SPX Technologies, Inc. generate?
SPX Technologies, Inc. (SPXC) generated $385M in free cash flow over the trailing twelve months — a free cash flow margin of 16.4%. SPXC returns capital to shareholders through and share repurchases ($0 TTM).