SPXC Financials SPX Technologies

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated 45 d ago Overview →

Growth & profitability

Revenue has grown 15.0% per year over the past 5 years.
Net income has grown faster than revenue (19.8% vs 15.0% per year).
Operating margin has expanded, at 15.5% in the latest year.
Free cash flow has grown 16.8% per year over the past 5 years.

Financial health

Total debt ($502M) exceeds cash ($364M); net debt is $138M.
Total debt has grown slower than revenue (4.0% vs 15.0% per year).
Operating income covered interest expense 7.3× in the latest year.
Total debt is 1.1× EBITDA.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$2.3B	$244M	40.5%	15.5%	10.9%	6.8%	$241M	$502M	$364M
2024	$2.0B	$201M	40.3%	15.5%	14.5%	7.4%	$248M	$615M	$157M
2023	$1.7B	$90M	38.5%	12.7%	7.5%	3.7%	$185M	$558M	$99M
2022	$1.5B	$200000	35.9%	3.5%	0.0%	0.0%	-$153M	$247M	$148M
2021	$1.2B	$425M	35.4%	6.0%	38.6%	16.2%	$165M	$246M	$388M
2020	$1.1B	$99M	35.1%	8.6%	15.5%	4.2%	$111M	$412M	$64M
2019	$1.1B	$65M	35.8%	10.1%	12.8%	3.0%	$135M	$394M	$51M
2018	$1.5B	$81M	27.1%	7.4%	19.6%	3.9%	$98M	$382M	$69M
2017	$1.4B	$89M	23.2%	4.2%	28.4%	4.4%	$36M	$357M	$124M
2016	$1.5B	-$67M	25.5%	4.8%	-35.1%	-3.5%	-$13M	$356M	$100M
2015	—	-$83M	—	—	-23.9%	-3.8%	-$55M	$372M	$97M
2014	—	$393M	—	—	21.8%	6.7%	$57M	$1.4B	$232M
2011	—	$181M	—	—	8.1%	2.4%	$177M	$2.0B	$551M
2010	—	$206M	—	—	9.8%	3.4%	$183M	$1.2B	$455M
2009	—	$32M	—	—	1.7%	0.6%	—	—	$523M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '26	$679M	$78M	40.2%	16.9%	3.3%	2.0%	$69M	$615M	$166M
Mar '26	$567M	$60M	40.7%	15.5%	2.6%	1.5%	$12M	$674M	$157M
Dec '25	$637M	$78M	39.8%	15.7%	3.5%	2.2%	$127M	$502M	$364M
Sep '25	$593M	$63M	40.4%	16.4%	2.9%	1.8%	$96M	$502M	$229M
Jun '25	$552M	$52M	41.4%	15.7%	3.4%	1.6%	$35M	$1.0B	$133M
Mar '25	$483M	$51M	40.6%	13.8%	3.5%	1.6%	-$16M	$960M	$178M
Dec '24	$534M	$57M	40.9%	16.9%	4.1%	2.1%	$157M	$615M	$157M
Sep '24	$484M	$50M	40.9%	16.3%	3.7%	1.8%	$44M	$738M	$125M
Jun '24	$501M	$44M	40.1%	14.9%	3.4%	1.6%	$47M	$790M	$128M
Mar '24	$465M	$49M	39.3%	13.9%	4.0%	1.8%	$600000	$854M	$101M
Dec '23	$469M	$32M	40.0%	13.4%	2.6%	1.3%	$119M	$558M	$99M
Sep '23	$449M	-$20M	37.6%	12.9%	-1.8%	-0.8%	$7M	$674M	$101M
Jul '23	$423M	$36M	38.6%	12.1%	3.1%	1.4%	$67M	$676M	$87M
Apr '23	$400M	$43M	37.5%	12.5%	3.8%	2.1%	-$8M	$314M	$205M
Dec '22	$429M	-$27M	37.8%	-5.8%	-2.5%	-1.4%	-$32M	$247M	$148M
Oct '22	$371M	$3M	35.9%	10.1%	0.3%	0.1%	-$18M	$247M	$183M
Jul '22	$354M	$13M	35.2%	7.7%	1.2%	0.5%	-$43M	$240M	$190M
Apr '22	$307M	$11M	33.9%	3.7%	1.0%	0.4%	-$59M	$243M	$263M
Dec '21	$350M	$6M	36.9%	4.0%	0.6%	0.2%	$19M	$246M	$388M
Oct '21	$286M	$330M	33.5%	6.2%	30.8%	13.3%	$72M	$248M	$554M

Valuation over time

How the market has priced SPXC against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 17667.8× (Mar '23) to 39.8× (Sep '26).
The price-to-sales ratio has risen from 2.4× (Mar '23) to 4.3× (Sep '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Frequently asked questions

Is SPXC growing its revenue and profit?

Over the past 5 years, SPX Technologies's revenue has grown 15.0% per year, and net income grown 19.8% per year. These are computed facts, not advice.

How much debt does SPXC have?

As of FY2025, SPX Technologies reported $502M of total debt against $364M of cash; operating income covered interest expense 7.3×.

What is SPXC's profit margin?

In FY2025, gross margin was 40.5%, operating margin 15.5%, and net margin 10.8%.

What is SPXC's P/E ratio?

As of Sep '26, SPX Technologies traded at a price-to-earnings ratio of about 39.8× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.