SPX Technologies, Inc. (SPXC) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+29.5%

$206.32

vs $159.36 price

Levered DCF

$215.46

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

3.15

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	39.23×	33.53×	51.27×	149.2×	6.36×	25.02×	31.6×	14.82×
P/B	4.28×	4.85×	3.85×	2.76×	2.45×	3.8×	4.45×	2.91×
P/S	4.22×	3.39×	2.64×	2.04×	2.22×	2.16×	1.99×	0.8×
EV / EBITDA	20.02×	18.42×	18.28×	37.15×	20.44×	21.59×	19.19×	11.34×
Gross margin	40.5%	40.3%	38.5%	35.9%	35.4%	35.1%	35.8%	27.1%
Operating margin	15.5%	15.5%	12.7%	3.5%	6.0%	8.6%	10.1%	7.4%
Net margin	10.8%	10.1%	5.2%	0.0%	34.9%	8.8%	6.3%	5.4%
Current ratio	2.48×	1.87×	1.77×	2.16×	2.06×	1.18×	1.04×	1.27×
Debt / equity	0.22×	0.48×	0.47×	0.23×	0.22×	0.64×	0.78×	0.92×
Interest coverage	7.32×	6.75×	8.16×	5.48×	5.63×	5.27×	5.43×	5.23×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	10.9%	14.5%	7.5%	0.0%	38.6%	15.5%	14.1%	19.6%
Return on invested capital	8.7%	10.4%	8.3%	2.3%	2.8%	4.9%	5.9%	6.7%
Return on assets	6.8%	7.4%	3.7%	0.0%	16.2%	4.2%	3.3%	3.9%
Free cash flow yield	2.5%	3.7%	4.0%	-5.1%	6.1%	4.6%	6.0%	8.1%
Earnings yield	2.5%	3.0%	2.0%	0.0%	15.7%	4.1%	3.2%	6.7%
Enterprise value	$9.7B	$7.2B	$5.1B	$3.1B	$2.6B	$2.8B	$2.6B	$1.5B
Net debt / EBITDA	0.28×	1.31×	1.66×	1.2×	-1.13×	2.7×	2.53×	2.34×
Cash conversion cycle (days)	111	104	116	118	108	105	113	79