POWELL INDUSTRIES INC

POWL · Switchgear & Switchboard Apparatus · 36.4M shares · +1%/yr ↑ shares · EDGAR filings ↗

Net buyback after stock comp: -$859K (gross $4M, SBC $5M)

Reference price $294.49 · est. market cap ~$10.7B — last insider sale, 2026-06-25 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)

Grade

B83

Switchgear maker posting top-decile returns and strong growth riding an LNG/data-center capex wave, but cyclical and project-based.

Strengths

Excellent returns: ROA 16.3% (95th pct), ROE 28% (83rd pct), operating margin 19.7% (86th pct) and net margin 16.4% (83rd pct)
Net income up 175%, record backlog of $1.4B, $475M cash and strong FCF margin (73rd pct) funding capacity expansion

Risks

Highly cyclical, fixed-price project business tied to oil & gas/petrochemical capex with backlog cancellation/cost-overrun risk
Gross margin only 31st pct and elevated returns appear cyclically peaked rather than structurally durable

Notable findings

Exec changeRecent 8-K item 5.02 8-K ↗
Strong balance sheetStrong balance sheet — $476M cash & investments
Insider sellingInsider selling — 55 open-market sale(s) by 10 insider(s) (cluster of 10 insiders, ~$63M, last 6mo) Form 4 ↗

Quarterly revenue

2025-06-30 · $286M2025-09-30 · $298M2025-12-31 · $251M2026-03-31 · $297M

Last 4 quarters · from SEC filings.

Key metrics

Gross margin

29.4%

Operating margin

19.7%

Net margin

16.4%

Return on equity

28.2%

Return on assets

16.3%

Revenue growth (QoQ)

18.1%

Net-income growth

20.6%

Current ratio

2.1×

Free cash flow

$155M

EBITDA

$225M

Tangible book value

$629M

Cash & investments

$476M

Stock comp / revenue

0.4%

Insider transactions · last 18 months

Date	Insider	Type	Shares	Price
2026-06-25	POWELL THOMAS W	Sell	34K	$294.49
2026-06-11	COPE BRETT ALAN	Sell	4.4K	$272.64
2026-05-28	Singh Mohit	Sell	1.4K	$293.21
2026-05-14	Williams Richard E	Sell	740	$300.66
2026-05-14	Williams Richard E	Sell	140	$301.05
2026-05-14	COPE BRETT ALAN	Sell	4.4K	$301.00
2026-05-14	Williams Richard E	Sell	4.4K	$298.88
2026-05-11	Mauney William Marshall Jr	Sell	623	$325.97
2026-05-11	Mauney William Marshall Jr	Sell	9	$327.69
2026-05-11	Mauney William Marshall Jr	Sell	66	$327.06
2026-05-11	Mauney William Marshall Jr	Sell	176	$323.82
2026-05-11	Mauney William Marshall Jr	Sell	386	$322.70
2026-05-11	Mauney William Marshall Jr	Sell	927	$321.86
2026-05-11	Mauney William Marshall Jr	Sell	313	$324.87
2026-04-09	COPE BRETT ALAN	Sell	4.4K	$233.96
2026-03-31	METCALF MICHAEL WILLIAM	Sell	393	$536.81
2026-03-31	METCALF MICHAEL WILLIAM	Sell	200	$537.51
2026-03-31	METCALF MICHAEL WILLIAM	Sell	234	$539.07
2026-03-31	METCALF MICHAEL WILLIAM	Sell	175	$540.19
2026-03-31	METCALF MICHAEL WILLIAM	Sell	50	$541.43
2026-03-31	METCALF MICHAEL WILLIAM	Sell	140	$516.09
2026-03-31	METCALF MICHAEL WILLIAM	Sell	40	$510.16
2026-03-31	METCALF MICHAEL WILLIAM	Sell	80	$511.76
2026-03-31	METCALF MICHAEL WILLIAM	Sell	80	$513.07
2026-03-31	METCALF MICHAEL WILLIAM	Sell	162	$517.35
2026-03-31	METCALF MICHAEL WILLIAM	Sell	202	$518.67
2026-03-31	METCALF MICHAEL WILLIAM	Sell	240	$519.47
2026-03-31	METCALF MICHAEL WILLIAM	Sell	200	$520.85
2026-03-31	METCALF MICHAEL WILLIAM	Sell	204	$522.15
2026-03-31	METCALF MICHAEL WILLIAM	Sell	120	$522.88
2026-03-31	METCALF MICHAEL WILLIAM	Sell	40	$528.67
2026-03-31	METCALF MICHAEL WILLIAM	Sell	40	$530.81
2026-03-31	METCALF MICHAEL WILLIAM	Sell	40	$532.74
2026-03-31	METCALF MICHAEL WILLIAM	Sell	120	$534.62
2026-03-31	METCALF MICHAEL WILLIAM	Sell	240	$535.81
2026-03-19	POWELL THOMAS W	Sell	50K	$502.23
2026-03-12	COPE BRETT ALAN	Sell	1.5K	$504.80
2026-03-11	POWELL THOMAS W	Gift	2.0K	—
2026-03-11	POWELL THOMAS W	Gift	2.0K	—
2026-02-25	POWELL THOMAS W	Sell	318	$560.37
2026-02-24	POWELL THOMAS W	Sell	124	$563.65
2026-02-24	POWELL THOMAS W	Sell	412	$561.44
2026-02-24	POWELL THOMAS W	Sell	400	$560.30
2026-02-24	POWELL THOMAS W	Sell	223	$562.25
2026-02-18	Smith Mark W.	Grant	200	$0.01
2026-02-18	McGill James W	Grant	200	$0.01
2026-02-18	CURTIS KATHERYN BAUCOM	Grant	200	$0.01
2026-02-18	Singh Mohit	Grant	200	$0.01
2026-02-18	Brooks Alaina K	Grant	200	$0.01
2026-02-18	Stacey John	Grant	200	$0.01
2026-02-18	Williams Richard E	Grant	200	$0.01
2026-02-13	POWELL THOMAS W	Sell	120	$600.06
2026-02-12	POWELL THOMAS W	Sell	6.3K	$601.39
2026-02-12	POWELL THOMAS W	Sell	8.5K	$600.56
2026-02-12	POWELL THOMAS W	Sell	80	$602.58
2026-02-11	POWELL THOMAS W	Sell	8.0K	$592.27
2026-02-11	Ni Ping	Sell	70	$590.00
2026-02-11	POWELL THOMAS W	Sell	2.3K	$593.57
2026-02-10	Eckenrode David L	Sell	295	$570.00
2026-02-09	Birchall John	Sell	2.4K	$582.50
2026-02-06	McKertcher Terry B	Sell	500	$565.06
2026-02-06	McKertcher Terry B	Sell	500	$550.00
2026-02-06	McKertcher Terry B	Sell	1.3K	$555.96
2026-02-06	McKertcher Terry B	Sell	700	$560.05
2026-02-03	TUNINETTI DAVIDE	Tax withheld	110	—
2026-01-03	COPE BRETT ALAN	Grant	1.3K	$287.18
2026-01-03	METCALF MICHAEL WILLIAM	Grant	500	$287.18
2026-01-02	MUDGE FREDERICK N	Grant	1.9K	$338.22
2026-01-02	MUDGE FREDERICK N	Tax withheld	1.2K	$338.22
2025-12-19	Mauney William Marshall Jr	Sell	3.0K	$331.73
2025-12-08	McKertcher Terry B	Sell	1.4K	$340.34
2025-12-08	McKertcher Terry B	Sell	667	$341.28
2025-12-01	Birchall John	Grant	2.4K	$315.03
2025-12-01	COPE BRETT ALAN	Grant	24K	$315.03
2025-12-01	METCALF MICHAEL WILLIAM	Grant	7.0K	$315.03
2025-12-01	Mauney William Marshall Jr	Grant	3.0K	$315.03
2025-12-01	MUDGE FREDERICK N	Grant	4.4K	$315.03
2025-12-01	McKertcher Terry B	Grant	2.6K	$315.03
2025-10-16	Ni Ping	Tax withheld	380	$335.11
2025-10-01	HOGLUND PETER G	Grant	300	$287.18
2025-10-01	Ni Ping	Grant	100	$287.18
2025-10-01	MUDGE FREDERICK N	Grant	400	$287.18
2025-10-01	TUNINETTI DAVIDE	Grant	400	$287.18
2025-10-01	Mauney William Marshall Jr	Grant	300	$287.18
2025-10-01	METCALF MICHAEL WILLIAM	Grant	600	$287.18
2025-10-01	COPE BRETT ALAN	Grant	1.9K	$287.18
2025-10-01	McKertcher Terry B	Grant	400	$287.18
2025-10-01	Eckenrode David L	Grant	100	$287.18
2025-10-01	Birchall John	Grant	300	$287.18
2025-09-30	COPE BRETT ALAN	Tax withheld	3.9K	$301.28
2025-09-30	McKertcher Terry B	Tax withheld	467	$301.28
2025-09-30	Ni Ping	Tax withheld	57	$301.28
2025-09-30	Eckenrode David L	Tax withheld	57	$301.28
2025-09-30	Mauney William Marshall Jr	Tax withheld	466	$301.28
2025-09-30	Birchall John	Tax withheld	433	$301.28
2025-09-30	HOGLUND PETER G	Tax withheld	33	$301.28
2025-09-30	MUDGE FREDERICK N	Tax withheld	600	$301.28
2025-09-30	METCALF MICHAEL WILLIAM	Tax withheld	3.0K	$301.28
2025-09-22	METCALF MICHAEL WILLIAM	Sell	200	$292.81
2025-09-22	METCALF MICHAEL WILLIAM	Sell	392	$294.00
2025-09-22	METCALF MICHAEL WILLIAM	Sell	332	$295.84
2025-09-22	METCALF MICHAEL WILLIAM	Sell	200	$296.87
2025-09-22	METCALF MICHAEL WILLIAM	Sell	279	$297.95
2025-09-22	METCALF MICHAEL WILLIAM	Sell	610	$300.19
2025-09-22	METCALF MICHAEL WILLIAM	Sell	557	$300.95
2025-09-22	METCALF MICHAEL WILLIAM	Sell	141	$301.71
2025-09-22	METCALF MICHAEL WILLIAM	Sell	489	$302.97
2025-09-05	Mauney William Marshall Jr	Tax withheld	770	$266.80
2025-08-28	MUDGE FREDERICK N	Sell	6.4K	$277.50
2025-08-26	Birchall John	Sell	3.0K	$260.03
2025-08-26	CRAGG CHRISTOPHER E	Gift	225	—
2025-08-11	McKertcher Terry B	Sell	500	$260.74
2025-08-11	McKertcher Terry B	Sell	1.0K	$259.07
2025-08-01	Smith Mark W.	Grant	230	$0.01
2025-06-27	METCALF MICHAEL WILLIAM	Sell	495	$213.06
2025-06-27	METCALF MICHAEL WILLIAM	Sell	277	$215.38
2025-06-27	METCALF MICHAEL WILLIAM	Sell	55	$216.82
2025-06-27	COPE BRETT ALAN	Sell	144	$202.95
2025-06-27	COPE BRETT ALAN	Sell	976	$204.74
2025-06-27	COPE BRETT ALAN	Sell	348	$205.63
2025-06-27	COPE BRETT ALAN	Sell	108	$206.48
2025-06-27	COPE BRETT ALAN	Sell	306	$207.81
2025-06-27	COPE BRETT ALAN	Sell	276	$209.01
2025-06-27	COPE BRETT ALAN	Sell	843	$209.94
2025-06-27	COPE BRETT ALAN	Sell	395	$211.13
2025-06-27	COPE BRETT ALAN	Sell	1.7K	$212.72
2025-06-27	COPE BRETT ALAN	Sell	555	$213.72
2025-06-27	COPE BRETT ALAN	Sell	908	$214.57
2025-06-27	COPE BRETT ALAN	Sell	162	$215.76
2025-06-27	COPE BRETT ALAN	Sell	95	$216.82
2025-06-27	METCALF MICHAEL WILLIAM	Sell	83	$202.95
2025-06-27	METCALF MICHAEL WILLIAM	Sell	545	$204.75
2025-06-27	METCALF MICHAEL WILLIAM	Sell	310	$205.77
2025-06-27	METCALF MICHAEL WILLIAM	Sell	62	$206.47
2025-06-27	METCALF MICHAEL WILLIAM	Sell	198	$207.75
2025-06-27	METCALF MICHAEL WILLIAM	Sell	210	$208.98
2025-06-27	METCALF MICHAEL WILLIAM	Sell	344	$210.00
2025-06-27	METCALF MICHAEL WILLIAM	Sell	124	$211.11
2025-06-27	METCALF MICHAEL WILLIAM	Sell	510	$212.25
2025-06-27	METCALF MICHAEL WILLIAM	Sell	708	$214.41
2025-06-26	METCALF MICHAEL WILLIAM	Sell	2.5K	$200.05
2025-06-26	HOGLUND PETER G	Sell	175	—
2025-06-26	COPE BRETT ALAN	Sell	3.1K	$200.06
2025-06-16	METCALF MICHAEL WILLIAM	Sell	200	$200.00
2025-06-16	COPE BRETT ALAN	Sell	780	$200.00
2025-03-25	COPE BRETT ALAN	Sell	446	$200.02
2025-03-25	METCALF MICHAEL WILLIAM	Sell	646	$200.24
2025-02-19	Williams Richard E	Grant	500	$0.01
2025-02-19	Singh Mohit	Grant	500	$0.01
2025-02-19	McGill James W	Grant	500	$0.01
2025-02-19	Brooks Alaina K	Grant	500	$0.01
2025-02-19	CURTIS KATHERYN BAUCOM	Grant	500	$0.01
2025-02-19	CRAGG CHRISTOPHER E	Grant	500	$0.01
2025-02-19	Stacey John	Grant	500	$0.01
2025-02-03	TUNINETTI DAVIDE	Grant	780	—

All non-derivative Form 4 activity (SEC), newest first.

Notable events (8-K)

Date	Items
2026-05-05	OtherExhibits	filing ↗
2026-05-04	ResultsExhibits	filing ↗
2026-03-31	5.03Exhibits	filing ↗
2026-02-18	Shareholder voteOther	filing ↗
2026-02-03	ResultsOtherExhibits	filing ↗
2026-01-06	Exec/director change	filing ↗
2025-11-18	ResultsExhibits	filing ↗
2025-11-04	OtherExhibits	filing ↗

Recent filings

Form	Filed	Period	Accession
8-K	2026-05-05	2026-05-05	0000080420-26-000067 ↗
10-Q	2026-05-05	2026-03-31	0000080420-26-000070 ↗
8-K	2026-05-04	2026-05-04	0000080420-26-000063 ↗
8-K	2026-03-31	2026-03-31	0000080420-26-000054 ↗
8-K	2026-02-18	2026-02-18	0000080420-26-000028 ↗
10-Q	2026-02-04	2025-12-31	0000080420-26-000015 ↗
8-K	2026-02-03	2026-02-03	0000080420-26-000013 ↗
8-K	2026-01-06	2026-01-02	0000080420-26-000009 ↗
10-K	2025-11-19	2025-09-30	0000080420-25-000152 ↗
8-K	2025-11-18	2025-11-18	0000080420-25-000145 ↗
8-K	2025-11-04	2025-11-04	0000080420-25-000140 ↗
10-Q	2025-08-06	2025-06-30	0000080420-25-000098 ↗