SPX Technologies, Inc.
SPXC · Metalworkg Machinery & Equipment · 50.1M shares · +1%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: $20M (gross $34M, SBC $13M)
Reference price $224.36 · est. market cap ~$11.2B — last insider sale, 2026-03-02 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B77Diversified HVAC and detection/measurement industrial compounder with above-average margins and steady acquisitive growth.
Strengths
- Operating margin 80.7th pct and ROA 83.3rd pct; net margin 74.4th pct
- Consistent organic-plus-acquisition revenue growth ($1.74B→$2.27B over three years) with strong backlog
Risks
- ROE only ~10.9% (62.7th pct), tempered by equity raised in 2025 offering
- Heavily acquisitive model adds integration and goodwill risk; tariff/commodity exposure
Notable findings
- Restatement• Financing Activities ◦ On September 9, 2025, we amended and restated our senior credit agreement (as amended, the “Amended Credit Agreement ” ) 8-K ↗
- Exec changeRecent 8-K item 5.02 8-K ↗
- Strong balance sheetStrong balance sheet — $364M cash & investments
- Revenue declineRevenue -11.1% YoY
- Insider sellingInsider selling — 3 open-market sale(s) by 1 insider(s) (~$9M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
40.5%
Operating margin
15.5%
Net margin
10.8%
Return on equity
10.9%
Return on assets
6.8%
Revenue growth (QoQ)
-11.1%
Net-income growth
21.7%
Current ratio
2.5×
EBITDA
$473M
Tangible book value
$326M
Cash & investments
$364M
Stock comp / revenue
0.7%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-12 | OLEARY PATRICK J | Grant | 754 | — |
| 2026-05-12 | SHAW RUTH G | Grant | 754 | — |
| 2026-05-12 | Utley Tana Leigh | Grant | 754 | — |
| 2026-05-12 | ROBERTS DAVID A | Grant | 754 | — |
| 2026-05-12 | Willis Angel S | Grant | 754 | — |
| 2026-05-12 | Sethna Meenal | Grant | 754 | — |
| 2026-05-12 | Toth Robert B | Grant | 754 | — |
| 2026-05-12 | PUCKETT RICK D | Grant | 754 | — |
| 2026-03-03 | Swann John William III | Tax withheld | 196 | $225.02 |
| 2026-03-03 | Carpenter Jennifer | Tax withheld | 79 | $225.02 |
| 2026-03-03 | Lowe Eugene Joseph III | Tax withheld | 1.6K | $225.02 |
| 2026-03-03 | McClenaghan Sean | Tax withheld | 278 | $225.02 |
| 2026-03-03 | Carano Mark A | Tax withheld | 262 | $225.02 |
| 2026-03-03 | McLaren Wayne M. | Tax withheld | 80 | $225.02 |
| 2026-03-02 | Lowe Eugene Joseph III | Sell | 5.1K | $225.85 |
| 2026-03-02 | Whitman Daniel Jay | Grant | 1.8K | — |
| 2026-03-02 | Carpenter Jennifer | Grant | 1.6K | — |
| 2026-03-02 | McLaren Wayne M. | Grant | 662 | — |
| 2026-03-02 | McClenaghan Sean | Grant | 4.2K | — |
| 2026-03-02 | Lowe Eugene Joseph III | Grant | 20K | — |
| 2026-03-02 | Carano Mark A | Grant | 3.4K | — |
| 2026-03-02 | Lowe Eugene Joseph III | Option exercise | 82K | $27.40 |
| 2026-03-02 | Lowe Eugene Joseph III | Sell | 6.5K | $224.36 |
| 2026-03-02 | Lowe Eugene Joseph III | Sell | 30K | $225.23 |
| 2026-03-01 | Data J Randall | Tax withheld | 397 | $226.94 |
| 2026-03-01 | Swann John William III | Tax withheld | 356 | $226.94 |
| 2026-03-01 | Lowe Eugene Joseph III | Tax withheld | 2.5K | $226.94 |
| 2026-03-01 | Carano Mark A | Tax withheld | 414 | $226.94 |
| 2026-03-01 | McClenaghan Sean | Tax withheld | 384 | $226.94 |
| 2026-03-01 | McLaren Wayne M. | Tax withheld | 125 | $226.94 |
| 2026-02-28 | Swann John William III | Tax withheld | 264 | $226.94 |
| 2026-02-28 | Lowe Eugene Joseph III | Tax withheld | 1.8K | $226.94 |
| 2026-02-28 | McLaren Wayne M. | Tax withheld | 112 | $226.94 |
| 2026-02-28 | Carano Mark A | Tax withheld | 305 | $226.94 |
| 2026-02-28 | Data J Randall | Tax withheld | 456 | $226.94 |
| 2026-02-28 | McClenaghan Sean | Tax withheld | 356 | $226.94 |
| 2026-02-24 | McLaren Wayne M. | Grant | 361 | — |
| 2026-02-24 | McLaren Wayne M. | Tax withheld | 534 | $237.18 |
| 2026-02-24 | McClenaghan Sean | Grant | 2.6K | — |
| 2026-02-24 | McClenaghan Sean | Tax withheld | 2.8K | $237.18 |
| 2026-02-24 | Swann John William III | Grant | 2.6K | — |
| 2026-02-24 | Swann John William III | Tax withheld | 3.2K | $237.18 |
| 2026-02-24 | Lowe Eugene Joseph III | Grant | 15K | — |
| 2026-02-24 | Lowe Eugene Joseph III | Tax withheld | 23K | $237.18 |
| 2026-02-24 | Carano Mark A | Grant | 2.4K | — |
| 2026-02-24 | Carano Mark A | Tax withheld | 3.7K | $237.18 |
| 2026-02-24 | Data J Randall | Grant | 2.7K | — |
| 2026-02-24 | Data J Randall | Tax withheld | 3.6K | $237.18 |
| 2026-02-02 | Carano Mark A | Tax withheld | 537 | $208.41 |
| 2026-02-01 | Whitman Daniel Jay | Grant | 1.2K | — |
| 2025-12-17 | McLaren Wayne M. | Grant | 118 | — |
| 2025-12-11 | Data J Randall | Sell | 10K | $215.25 |
| 2025-12-11 | Data J Randall | Sell | 400 | $213.89 |
| 2025-12-11 | Data J Randall | Sell | 500 | $216.11 |
| 2025-12-11 | Data J Randall | Sell | 314 | $217.20 |
| 2025-12-11 | Data J Randall | Sell | 300 | $218.51 |
| 2025-11-19 | Swann John William III | Option exercise | 11K | $50.09 |
| 2025-11-19 | Swann John William III | Option exercise | 8.6K | $48.97 |
| 2025-11-19 | Swann John William III | Sell | 18K | $205.47 |
| 2025-11-19 | Swann John William III | Sell | 18K | $206.51 |
| 2025-11-19 | Swann John William III | Sell | 2.9K | $207.10 |
| 2025-11-19 | Swann John William III | Gift | 3.6K | — |
| 2025-10-01 | Carpenter Jennifer | Tax withheld | 185 | $186.78 |
| 2025-10-01 | McClenaghan Sean | Tax withheld | 1.3K | $186.78 |
| 2025-07-01 | Johnson Cheree H | Tax withheld | 396 | $167.68 |
| 2025-05-29 | PUCKETT RICK D | Sell | 6.8K | $153.01 |
| 2025-05-13 | Willis Angel S | Grant | 892 | — |
| 2025-05-13 | Utley Tana Leigh | Grant | 892 | — |
| 2025-05-13 | Toth Robert B | Grant | 892 | — |
| 2025-05-13 | SHAW RUTH G | Grant | 892 | — |
| 2025-05-13 | Sethna Meenal | Grant | 892 | — |
| 2025-05-13 | ROBERTS DAVID A | Grant | 892 | — |
| 2025-05-13 | PUCKETT RICK D | Grant | 892 | — |
| 2025-05-13 | OLEARY PATRICK J | Grant | 892 | — |
| 2025-03-03 | Lowe Eugene Joseph III | Grant | 29K | — |
| 2025-03-03 | Carano Mark A | Grant | 4.6K | — |
| 2025-03-03 | Swann John William III | Grant | 4.3K | — |
| 2025-03-03 | McClenaghan Sean | Grant | 5.6K | — |
| 2025-03-03 | Johnson Cheree H | Grant | 3.4K | — |
| 2025-03-03 | Carpenter Jennifer | Grant | 2.1K | — |
| 2025-03-03 | McLaren Wayne M. | Grant | 952 | — |
| 2025-03-03 | Lowe Eugene Joseph III | Tax withheld | 5.9K | $145.65 |
| 2025-03-03 | Data J Randall | Tax withheld | 964 | $145.65 |
| 2025-03-03 | Carano Mark A | Tax withheld | 351 | $145.65 |
| 2025-03-03 | McClenaghan Sean | Tax withheld | 386 | $145.65 |
| 2025-03-03 | Swann John William III | Tax withheld | 827 | $145.65 |
| 2025-03-03 | McLaren Wayne M. | Tax withheld | 131 | $145.65 |
| 2025-02-28 | Carano Mark A | Tax withheld | 258 | $143.94 |
| 2025-02-28 | Swann John William III | Tax withheld | 254 | $143.94 |
| 2025-02-28 | McClenaghan Sean | Tax withheld | 366 | $143.94 |
| 2025-02-28 | Lowe Eugene Joseph III | Option exercise | 187K | $12.85 |
| 2025-02-28 | Lowe Eugene Joseph III | Sell | 50K | $145.27 |
| 2025-02-28 | Lowe Eugene Joseph III | Sell | 41K | $145.86 |
| 2025-02-28 | Lowe Eugene Joseph III | Tax withheld | 1.8K | $143.94 |
| 2025-02-28 | McLaren Wayne M. | Tax withheld | 61 | $143.94 |
| 2025-02-28 | Data J Randall | Tax withheld | 436 | $143.94 |
| 2025-02-24 | Swann John William III | Grant | 3.4K | — |
| 2025-02-24 | Data J Randall | Tax withheld | 5.1K | $140.30 |
| 2025-02-24 | Lowe Eugene Joseph III | Grant | 19K | — |
| 2025-02-24 | Lowe Eugene Joseph III | Tax withheld | 30K | $140.30 |
| 2025-02-24 | Data J Randall | Grant | 3.9K | — |
| 2025-02-24 | Swann John William III | Tax withheld | 4.3K | $140.30 |
| 2025-02-24 | McLaren Wayne M. | Grant | 317 | — |
| 2025-02-24 | McLaren Wayne M. | Tax withheld | 324 | $140.30 |
| 2025-02-03 | Carano Mark A | Tax withheld | 549 | $148.52 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-22 | Exec/director change | filing ↗ |
| 2026-05-12 | Shareholder vote | filing ↗ |
| 2026-04-30 | ResultsExhibits | filing ↗ |
| 2026-02-24 | ResultsExhibits | filing ↗ |
| 2026-02-02 | Exec/director change | filing ↗ |
| 2025-10-30 | ResultsExhibits | filing ↗ |
| 2025-09-11 | Material agreementDebt obligationExhibits | filing ↗ |
| 2025-08-14 | OtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-22 | 2026-06-18 | 0001104659-26-076014 ↗ |
| 8-K | 2026-05-12 | 2026-05-12 | 0000088205-26-000036 ↗ |
| 10-Q | 2026-05-01 | 2026-03-28 | 0000088205-26-000032 ↗ |
| 8-K | 2026-04-30 | 2026-04-30 | 0000088205-26-000030 ↗ |
| 10-K | 2026-02-25 | 2025-12-31 | 0000088205-26-000008 ↗ |
| 8-K | 2026-02-24 | 2026-02-24 | 0000088205-26-000007 ↗ |
| 8-K | 2026-02-02 | 2026-02-02 | 0001104659-26-009344 ↗ |
| 10-Q | 2025-10-31 | 2025-09-27 | 0000088205-25-000073 ↗ |
| 8-K | 2025-10-30 | 2025-10-30 | 0000088205-25-000071 ↗ |
| 8-K | 2025-09-11 | 2025-09-09 | 0001410578-25-002044 ↗ |
| 8-K | 2025-08-14 | 2025-08-12 | 0001140361-25-031186 ↗ |
| 10-Q | 2025-08-01 | 2025-06-28 | 0000088205-25-000062 ↗ |