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 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
Sep '26
$715M
$82M
39.1%
16.1%
3.3%
1.7%
$19M
$1.3B
$119M
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
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 17673.5× (Mar '23) to 33.6× (Nov '26).
The price-to-sales ratio has risen from 2.4× (Mar '23) to 3.6× (Nov '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?
SPX Technologies's P/E (TTM) is 27.49 as of the 2026-11-03 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the SPXC stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 33.6× as of Nov '26) can differ. 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), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.