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SPXC

SPX Technologies NYSE:SPXC Stock Report

Last Price

US$54.14

Market Cap

US$2.4b

7D

-3.0%

1Y

-1.1%

Updated

23 Sep, 2022

Data

Company Financials +
SPXC fundamental analysis
Snowflake Score
Valuation3/6
Future Growth4/6
Past Performance1/6
Financial Health4/6
Dividends0/6

SPXC Stock Overview

SPX Technologies, Inc. supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets in the United States, China, the United Kingdom, and internationally.

SPX Technologies Competitors

Price History & Performance

Summary of all time highs, changes and price drops for SPX Technologies
Historical stock prices
Current Share PriceUS$54.14
52 Week HighUS$68.24
52 Week LowUS$41.66
Beta1.23
1 Month Change-10.95%
3 Month Change-0.53%
1 Year Change-1.10%
3 Year Change34.34%
5 Year Change84.53%
Change since IPO135.39%

Recent News & Updates

Sep 17
Is SPX Technologies, Inc. (NYSE:SPXC) Trading At A 45% Discount?

Is SPX Technologies, Inc. (NYSE:SPXC) Trading At A 45% Discount?

Does the September share price for SPX Technologies, Inc. ( NYSE:SPXC ) reflect what it's really worth? Today, we will...

Aug 30
SPX Technologies (NYSE:SPXC) Seems To Use Debt Quite Sensibly

SPX Technologies (NYSE:SPXC) Seems To Use Debt Quite Sensibly

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Aug 12
Is There Now An Opportunity In SPX Corporation (NYSE:SPXC)?

Is There Now An Opportunity In SPX Corporation (NYSE:SPXC)?

SPX Corporation ( NYSE:SPXC ), might not be a large cap stock, but it led the NYSE gainers with a relatively large...

Shareholder Returns

SPXCUS MachineryUS Market
7D-3.0%-5.4%-5.2%
1Y-1.1%-19.5%-23.1%

Return vs Industry: SPXC exceeded the US Machinery industry which returned -18% over the past year.

Return vs Market: SPXC exceeded the US Market which returned -21.6% over the past year.

Price Volatility

Is SPXC's price volatile compared to industry and market?
SPXC volatility
SPXC Average Weekly Movement4.6%
Machinery Industry Average Movement5.3%
Market Average Movement6.9%
10% most volatile stocks in US Market15.9%
10% least volatile stocks in US Market2.8%

Stable Share Price: SPXC is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: SPXC's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19123,100Gene Lowehttps://www.spx.com

SPX Technologies, Inc. supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets in the United States, China, the United Kingdom, and internationally. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers and comfort heating and ventilation products for the residential and commercial markets.

SPX Technologies Fundamentals Summary

How do SPX Technologies's earnings and revenue compare to its market cap?
SPXC fundamental statistics
Market CapUS$2.45b
Earnings (TTM)US$50.40m
Revenue (TTM)US$1.30b

48.6x

P/E Ratio

1.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SPXC income statement (TTM)
RevenueUS$1.30b
Cost of RevenueUS$843.10m
Gross ProfitUS$453.70m
Other ExpensesUS$403.30m
EarningsUS$50.40m

Last Reported Earnings

Jul 02, 2022

Next Earnings Date

n/a

Earnings per share (EPS)1.11
Gross Margin34.99%
Net Profit Margin3.89%
Debt/Equity Ratio21.9%

How did SPXC perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is SPXC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SPXC?

Other financial metrics that can be useful for relative valuation.

SPXC key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.9x
Enterprise Value/EBITDA20.2x
PEG Ratio1x

Price to Earnings Ratio vs Peers

How does SPXC's PE Ratio compare to its peers?

SPXC PE Ratio vs Peers
The above table shows the PE ratio for SPXC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average42x
AIN Albany International
19.3x7.3%US$2.4b
JBT John Bean Technologies
22.1x20.0%US$2.7b
ESAB ESAB
9.8x6.9%US$2.1b
AIMC Altra Industrial Motion
116.6x38.6%US$2.2b
SPXC SPX Technologies
48.6x47.4%US$2.4b

Price-To-Earnings vs Peers: SPXC is expensive based on its Price-To-Earnings Ratio (48.6x) compared to the peer average (42x).


Price to Earnings Ratio vs Industry

How does SPXC's PE Ratio compare vs other companies in the US Machinery Industry?

Price-To-Earnings vs Industry: SPXC is expensive based on its Price-To-Earnings Ratio (48.6x) compared to the US Machinery industry average (18.6x)


Price to Earnings Ratio vs Fair Ratio

What is SPXC's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SPXC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio48.6x
Fair PE Ratio38.4x

Price-To-Earnings vs Fair Ratio: SPXC is expensive based on its Price-To-Earnings Ratio (48.6x) compared to the estimated Fair Price-To-Earnings Ratio (38.4x).


Share Price vs Fair Value

What is the Fair Price of SPXC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SPXC ($54.14) is trading below our estimate of fair value ($101.25)

Significantly Below Fair Value: SPXC is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

How is SPX Technologies forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


47.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SPXC's forecast earnings growth (47.4% per year) is above the savings rate (1.9%).

Earnings vs Market: SPXC's earnings (47.4% per year) are forecast to grow faster than the US market (14.7% per year).

High Growth Earnings: SPXC's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: SPXC's revenue (7.6% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: SPXC's revenue (7.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SPXC's Return on Equity is forecast to be low in 3 years time (12.8%).


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Past Performance

How has SPX Technologies performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


2.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SPXC has a large one-off loss of $19.1M impacting its July 2 2022 financial results.

Growing Profit Margin: SPXC's current net profit margins (3.9%) are lower than last year (7.5%).


Past Earnings Growth Analysis

Earnings Trend: SPXC's earnings have grown by 2.1% per year over the past 5 years.

Accelerating Growth: SPXC's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SPXC had negative earnings growth (-43.9%) over the past year, making it difficult to compare to the Machinery industry average (9.4%).


Return on Equity

High ROE: SPXC's Return on Equity (4.6%) is considered low.


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Financial Health

How is SPX Technologies's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: SPXC's short term assets ($778.6M) exceed its short term liabilities ($368.2M).

Long Term Liabilities: SPXC's short term assets ($778.6M) do not cover its long term liabilities ($1.0B).


Debt to Equity History and Analysis

Debt Level: SPXC's net debt to equity ratio (4.5%) is considered satisfactory.

Reducing Debt: SPXC's debt to equity ratio has reduced from 175.2% to 21.9% over the past 5 years.

Debt Coverage: SPXC's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: SPXC's interest payments on its debt are well covered by EBIT (8x coverage).


Balance Sheet


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Dividend

What is SPX Technologies's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate SPXC's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate SPXC's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if SPXC's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if SPXC's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: SPXC is not paying a notable dividend for the US market.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as SPXC has not reported any payouts.


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Management

How experienced are the management team and are they aligned to shareholders interests?

7.0yrs

Average management tenure


CEO

Gene Lowe (54 yo)

7yrs

Tenure

US$6,517,485

Compensation

Mr. Eugene Joseph Lowe, III, also known as Gene, has been the Chief Executive Officer and President at SPX Technologies, Inc. (formerly known as SPX Corporation) since September 26, 2015. Mr. Lowe is respo...


CEO Compensation Analysis

Compensation vs Market: Gene's total compensation ($USD6.52M) is about average for companies of similar size in the US market ($USD6.80M).

Compensation vs Earnings: Gene's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: SPXC's management team is seasoned and experienced (7 years average tenure).


Board Members

Experienced Board: SPXC's board of directors are considered experienced (7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

NYSE:SPXC Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
08 Nov 21SellUS$6,136Michael ReillyIndividual92US$66.70

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 70.97% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
15.93%
BlackRock, Inc.
7,204,121$390.0m3.71%0.01%
10.53%
The Vanguard Group, Inc.
4,758,768$257.6m-0.22%0.01%
4.66%
Columbia Management Investment Advisers, LLC
2,106,197$114.0m15.93%0.03%
4.28%
EARNEST Partners, LLC
1,934,981$104.8m0%0.68%
3.62%
State Street Global Advisors, Inc.
1,634,734$88.5m1.41%no data
3.13%
Channing Capital Management, LLC
1,414,719$76.6m13.55%2.68%
2.71%
Segall Bryant & Hamill, LLC
1,227,334$66.4m-0.59%0.76%
2.63%
FMR LLC
1,191,210$64.5m2.4%0.01%
2.43%
Dimensional Fund Advisors LP
1,098,136$59.5m-1.24%0.01%
2.09%
GW&K Investment Management, LLC
946,470$51.2m2.51%0.55%
1.72%
Geode Capital Management, LLC
779,576$42.2m2.53%0.01%
1.58%
New York State Common Retirement Fund
713,016$38.6m106.03%0.05%
1.52%
Janus Henderson Group plc
688,895$37.3m-1.8%0.02%
1.39%
Wellington Management Group LLP
626,273$33.9m-0.77%0.01%
1.38%
Brown Advisory Incorporated
623,221$33.7m-2.24%0.06%
1.35%
Teachers Insurance and Annuity Association-College Retirement Equities Fund
612,078$33.1m0.08%0.01%
1.31%
T. Rowe Price Group, Inc.
590,420$32.0m-87.48%no data
1.25%
Allspring Global Investments, LLC
566,310$30.7m-33.86%0.05%
1.25%
Cramer Rosenthal McGlynn, LLC
565,025$30.6m-16.98%1.42%
1.15%
Vaughan Nelson Investment Management, L.P.
522,170$28.3m-0.24%0.39%
1.11%
Northern Trust Global Investments
499,645$27.1m-1.45%0.01%
1.09%
BNY Mellon Asset Management
494,962$26.8m-1.8%0.01%
1%
Amundi Asset Management
454,355$24.6m-28.3%0.01%
0.95%
Norges Bank Investment Management
431,220$23.3m0%no data
0.89%
Charles Schwab Investment Management, Inc.
402,144$21.8m2.48%0.01%

Company Information

SPX Technologies, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: SPX Technologies, Inc.
  • Ticker: SPXC
  • Exchange: NYSE
  • Founded: 1912
  • Industry: Industrial Machinery
  • Sector: Capital Goods
  • Implied Market Cap: US$2.448b
  • Shares outstanding: 45.21m
  • Website: https://www.spx.com

Number of Employees


Location

  • SPX Technologies, Inc.
  • 6325 Ardrey Kell Road
  • Suite 400
  • Charlotte
  • North Carolina
  • 28277
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SPXCNYSE (New York Stock Exchange)YesCommon StockUSUSDOct 1998
SPW0DB (Deutsche Boerse AG)YesCommon StockDEEUROct 1998

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/23 00:00
End of Day Share Price2022/09/23 00:00
Earnings2022/07/02
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.