Powell Industries, Inc.
POWL Industrials Electrical Equipment & Parts
Powell Industries, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $1.1 billion, up 9.08% from fiscal 2024. In the quarter to June 2026, revenue grew 8.90%, EPS grew 7.25% and free cash flow grew 121.7%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for five.
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Powell Industries, Inc. (POWL) Altman Z-score
Powell Industries, Inc.'s Altman Z-score for fiscal 2025 is 7.68, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 7.68 | 1.22 |
| FY2024 | 6.46 | 2.84 |
| FY2023 | 3.62 | 0.48 |
| FY2022 | 3.14 | (0.63) |
| FY2021 | 3.77 | 0.19 |
| FY2020 | 3.58 | (0.52) |
| FY2019 | 4.11 | (0.21) |
| FY2018 | 4.32 | (0.21) |
| FY2017 | 4.52 | (0.45) |
| FY2016 | 4.98 | 0.42 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.44 | — | 0.53 | |
| Retained earnings / total assets | 0.57 | — | 0.80 | |
| EBIT / total assets | 0.20 | — | 0.65 | |
| Market value of equity / total liabilities | 7.85 | — | 4.71 | |
| Sales / total assets | 1.00 | — | 1.00 | |
| Altman Z-score | Safe zone | 7.68 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 7.48 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| POWL Powell Industries, Inc. | 7.7× |
| PLPC Preformed Line Products Company compare | 6.4× |
| AEIS Advanced Energy Industries, Inc. compare | 5.8× |
| ENS Enersys compare | 4.5× |
| NVT nVent Electric PLC compare | 4.5× |
| ATKR Atkore Inc. compare | 2.8× |
| HAYW Hayward Holdings, Inc. compare | 2.5× |
| PLUG Plug Power, Inc. compare | −4.8× |
| AYI Acuity, Inc. compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets