Friday 6 November 2026 Export SPXC’s income statement to Excel — free account

SPX Technologies, Inc.

SPXC Industrials Building Products & Equipment

SPX Technologies, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.3 billion, up 14.2% from fiscal 2024.

Revenue: +20.5%
EPS: +26.2%
Free cash flow: −79.9%
Total debt: +166.1%

Quarter to September 2026, against a year earlier

139.27 14.20 −9.25%

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Market cap: $6.9B
P/E: 23.3×
Fwd P/E: 24.6×
Dividend yield: —
F-score: 6/9
Altman Z: 5.56
Beneish M: −2.42
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

SPX Technologies, Inc. (SPXC) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by products and services, and margins
Package and process cooling equipment and services, and engineered air movement and handling solutions	933	41.19%
Hydronic heating, electrical heating, and ventilation	585	25.84%
Communication technologies, aids to navigation, and transportation systems	491	21.68%
Underground locators, inspection and rehabilitation equipment, and robotic systems	256	11.30%
Gross margin		40.51%
Operating margin		15.47%
Pre-tax margin		13.87%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Package and process cooling equipment and services, and engineered air movement and handling solutions	933 41.19%	884 44.56%	683 39.24%	537 36.76%	434 35.57%	447 39.63%	430 38.24%	—
Hydronic heating, electrical heating, and ventilation	585 25.84%	481 24.23%	439 25.22%	377 25.79%	318 26.10%	294 26.03%	309 27.50%	300 19.86%
Communication technologies, aids to navigation, and transportation systems	491 21.68%	358 18.06%	355 20.38%	285 19.51%	211 17.27%	170 15.03%	191 16.96%	162 10.70%
Underground locators, inspection and rehabilitation equipment, and robotic systems	256 11.30%	261 13.15%	264 15.17%	262 17.94%	257 21.06%	218 19.31%	194 17.29%	159 10.52%
Power Transformers	—	—	—	—	—	—	—	374 24.71%
Cooling Equipment And Services	—	—	—	—	—	—	—	282 18.62%
Process Cooling Equipment And Services	—	—	—	—	—	—	—	187 12.34%
South African Projects	—	—	—	—	—	—	—	49 3.25%
Revenue	2,265	1,984	1,741	1,461	1,220	1,128	1,124	1,513

Revenue by segment $m

Line	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
HVAC reportable segment	914 62.55%	—	—	—	—	—	—	—	—	—	—	—	—	—
Detection and Measurement reportable segment	547 37.45%	—	—	—	—	—	—	—	—	—	—	—	—	—
HVAC reportable segment	—	752 61.67%	741 65.67%	739 65.74%	582 38.48%	511 35.84%	510 34.61%	529 33.94%	536 31.62%	497 25.26%	—	—	—	—
Detection and Measurement reportable segment	—	467 38.33%	387 34.33%	385 34.26%	321 21.22%	260 18.26%	226 15.38%	232 14.90%	244 14.42%	271 13.78%	—	—	—	—
Engineered Solutions Reportable	—	—	—	—	537 35.50%	561 39.33%	598 40.62%	798 51.16%	914 53.96%	—	—	—	—	—
Other Segments	—	—	—	—	73 4.80%	94 6.58%	138 9.40%	—	—	—	—	—	—	—
Power Reportable	—	—	—	—	—	—	—	—	—	1,200 60.96%	—	—	—	—
Flow Technology	—	—	—	—	—	—	—	—	—	—	2,682 54.80%	2,042 47.79%	1,662 40.55%	1,634 39.14%
Thermal Equipment And Services	—	—	—	—	—	—	—	—	—	—	1,491 30.46%	1,636 38.30%	1,593 38.87%	1,596 38.21%
Industrial Products Services And Other	—	—	—	—	—	—	—	—	—	—	722 14.74%	595 13.91%	—	—
Industrial Products and Services	—	—	—	—	—	—	—	—	—	—	—	—	843 20.58%	946 22.65%
Segment Reporting	1,461	—	—	—	—	—	—	—	—	—	—	—	—	—
Revenue	1,461	1,220	1,128	1,124	1,513	1,426	1,472	1,559	1,694	1,969	4,895	4,273	4,099	4,175

Operating income by segment $m, and margin

	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
HVAC reportable segment	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Detection and Measurement reportable segment	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
HVAC reportable segment	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Detection and Measurement reportable segment	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Engineered Solutions Reportable	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Other Segments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Power Reportable	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Flow Technology	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Thermal Equipment And Services	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Industrial Products Services And Other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
United States	1,813 80.02%	1,641 82.71%	1,454 83.51%	1,224 83.75%	992 81.30%	936 82.94%	973 86.57%	1,292 85.39%	1,243 87.20%	1,235 83.90%	1,255 80.53%	1,303 76.88%	1,286 65.32%	2,231 45.58%	1,974 46.19%	2,024 49.38%	2,102 50.35%
Canada	193 8.54%	111 5.61%	48 2.78%	17 1.18%	—	—	—	—	—	—	—	—	—	—	—	—	—
United Kingdom	96 4.22%	91 4.58%	96 5.53%	97 6.61%	80 6.57%	88 7.84%	59 5.25%	62 4.13%	61 4.26%	59 4.01%	70 4.46%	69 4.08%	59 2.99%	545 11.14%	240 5.61%	219 5.35%	230 5.50%
Other	92 4.06%	76 3.83%	89 5.09%	73 4.97%	90 7.38%	62 5.52%	61 5.41%	48 3.14%	37 2.58%	39 2.66%	96 6.17%	105 6.18%	130 6.61%	1,205 24.63%	1,128 26.39%	853 20.81%	845 20.25%
China	72 3.17%	65 3.27%	54 3.08%	51 3.49%	58 4.75%	42 3.70%	31 2.77%	39 2.55%	28 1.96%	34 2.28%	84 5.36%	109 6.42%	84 4.25%	232 4.75%	263 6.16%	348 8.49%	272 6.52%
South Africa	—	—	—	—	—	—	—	73 4.80%	57 3.99%	105 7.16%	54 3.48%	109 6.44%	234 11.90%	322 6.59%	281 6.59%	242 5.89%	138 3.31%
Delaware	—	—	—	—	—	—	—	—	—	—	—	—	176 8.92%	359 7.32%	388 9.07%	413 10.09%	588 14.07%
Revenue	2,265	1,984	1,741	1,461	1,220	1,128	1,124	1,513	1,426	1,472	1,559	1,694	1,969	4,895	4,273	4,099	4,175

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Consolidated organic revenue growth	Q3 FY2026	11.8%	14.3%	—
Detection & Measurement organic revenue growth	Q3 FY2026	−7.90%	26.5%	—
HVAC organic revenue growth	Q3 FY2026	22.3%	9.00%	—
Remaining performance obligations	Q3 FY2026	$152.9M	$341.1M	−55.17%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023	Q2 FY2023	Q1 FY2023	Q4 FY2022	Q3 FY2022	Q2 FY2022	Q1 FY2022	Q4 FY2021	Q3 FY2021	Q2 FY2021	Q1 FY2021	Q4 FY2020	Q3 FY2020	Q2 FY2020	Q1 FY2020	Q4 FY2019	Q3 FY2019	Q2 FY2019	Q1 FY2019	Q4 FY2018	Q3 FY2018	Q2 FY2018	Q1 FY2018
Consolidated organic revenue growth	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Detection & Measurement organic revenue growth	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
HVAC organic revenue growth	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Remaining performance obligations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.