SPXC financial statements

The full income statement, balance sheet, and cash-flow statement for SPX Technologies Inc. (SPXC), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 46.3M2024-09 46.4M2024-12 46.4M2025-03 46.7M2025-06 46.8M2025-09 49.8M2025-12 49.9M2026-03 50.1M2026-06 50.1M+8.2% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	2.27B YoY+14.2%	1.98B YoY+13.9%	1.74B YoY+19.2%	1.46B YoY+19.8%	1.22B YoY+8.1%
Cost of revenue	1.35B YoY+13.8%	1.18B YoY+10.6%	1.07B YoY+14.3%	937M YoY+19.0%	788M YoY+7.5%
Research & development	54.0M YoY+17.6%	45.9M YoY+6.3%	43.2M YoY+10.5%	39.1M YoY+27.4%	30.7M YoY+9.3%
Selling, general & administrative	478M YoY+15.2%	415M YoY+5.1%	394M YoY+10.9%	356M YoY+14.9%	310M YoY+13.6%
Amortization of intangibles	91.3M YoY+41.6%	64.5M YoY+46.9%	43.9M YoY+54.0%	28.5M YoY+31.9%	21.6M YoY+54.3%
Provision for credit losses	20.0M YoY+19.8%	16.7M YoY-8.2%	18.2M YoY+1.7%	17.9M YoY+20.1%	14.9M YoY-19.9%
Operating income	350M YoY+13.7%	308M YoY+38.9%	222M YoY+335.1%	51.0M YoY-30.8%	73.7M YoY-23.9%
Interest expense	48.1M YoY+5.3%	45.7M YoY+68.0%	27.2M YoY+192.5%	9.30M YoY-29.0%	13.1M YoY-28.8%
Interest & investment income	4.80M YoY+128.6%	2.10M YoY+23.5%	1.70M YoY+0.0%	1.70M YoY+240.0%	500K YoY+150.0%
Other non-operating income	8.50M YoY+191.4%	-9.30M YoY+7.9%	-10.1M YoY+33.6%	-15.2M YoY-268.9%	9.00M YoY+9100.0%
Gain (loss) on equity securities	—	-4.20M YoY-216.7%	3.60M YoY+220.0%	-3.00M YoY-125.4%	11.8M YoY+37.2%
Pre-tax income	314M YoY+23.0%	255M YoY+37.1%	186M YoY+587.5%	27.1M YoY-61.2%	69.9M YoY-11.1%
Income tax	68.6M YoY+28.0%	53.6M YoY+28.8%	41.6M YoY+469.9%	7.30M YoY-33.0%	10.9M YoY+127.1%
	244M YoY+21.7%	201M YoY+123.0%	89.9M YoY+44850.0%	200K YoY-100.0%	425M YoY+329.7%
Income from continuing operations	246M YoY+21.7%	202M YoY+39.5%	145M YoY+630.8%	19.8M YoY-66.4%	59.0M YoY-20.1%
Discontinued operations	-1.50M YoY-15.4%	-1.30M YoY+97.6%	-54.8M YoY-179.6%	-19.6M YoY-105.3%	366M YoY+1354.0%
Net income to non-controlling interest	—	—	—	—	0.00
Net income to common	—	—	—	—	425M YoY+329.7%
	$5.03 YoY+18.1%	$4.26 YoY+120.7%	$1.93	$0.00 YoY-100.0%	$9.15 YoY+323.6%
EPS (basic)	$5.10 YoY+17.5%	$4.34 YoY+120.3%	$1.97	$0.00 YoY-100.0%	$9.39 YoY+323.0%
	47.8M YoY+3.6%	46.2M YoY+1.4%	45.5M YoY+0.4%	45.3M YoY+0.1%	45.3M YoY+1.5%
	48.5M YoY+3.0%	47.1M YoY+1.0%	46.6M YoY+0.8%	46.2M YoY-0.6%	46.5M YoY+1.6%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	1.14B YoY+45.8%	784M YoY+10.5%	710M YoY-1.6%	721M YoY-20.2%	903M YoY+33.8%
Cash & equivalents	364M YoY+132.0%	157M YoY+57.8%	99.4M YoY-32.7%	148M YoY-61.9%	388M YoY+506.6%
Accounts receivable	357M YoY+13.9%	314M YoY+12.1%	280M YoY+6.2%	264M YoY+17.9%	223M YoY+6.0%
Inventory	302M YoY+11.5%	271M YoY-2.1%	277M YoY+13.4%	244M YoY+28.6%	190M YoY+22.5%
Other current assets	55.3M YoY+75.6%	31.5M YoY-15.1%	37.1M YoY-11.5%	41.9M YoY-42.7%	73.1M YoY-17.3%
	3.60B YoY+32.8%	2.71B YoY+11.3%	2.44B YoY+26.4%	1.93B YoY-26.5%	2.63B YoY+12.6%
Operating lease right-of-use	76.8M YoY+32.6%	57.9M YoY+36.6%	42.4M YoY-8.4%	46.3M YoY+11.0%	41.7M YoY+3.0%
Goodwill	1.04B YoY+25.0%	835M YoY+18.4%	705M YoY+54.8%	455M YoY-0.4%	457M YoY+24.1%
Intangible assets	868M YoY+23.5%	703M YoY+3.3%	681M YoY+69.5%	402M YoY-3.3%	416M YoY+36.2%
Deferred tax assets	2.20M YoY-8.3%	2.40M YoY-40.0%	4.00M YoY+48.1%	2.70M YoY-75.5%	11.0M YoY-54.0%
Other non-current assets	250M YoY+52.5%	164M YoY-13.1%	189M YoY-4.3%	197M YoY-70.8%	676M YoY+14.2%
	461M YoY+10.2%	418M YoY+4.3%	401M YoY+20.2%	334M YoY-24.1%	440M YoY-23.2%
Accounts payable	145M YoY+13.3%	128M YoY+7.9%	119M YoY-4.7%	125M YoY+4.1%	120M YoY+17.1%
Accrued liabilities	185M YoY+8.4%	171M YoY+1.4%	169M YoY+13.9%	148M YoY-32.1%	218M YoY+5.5%
Deferred revenue	116M YoY+85.9%	62.3M YoY-15.2%	73.5M YoY+39.2%	52.8M YoY+18.1%	44.7M YoY+15.2%
Short-term & current debt	3.50M YoY-87.3%	27.6M YoY+59.5%	17.3M YoY+765.0%	2.00M YoY-84.6%	13.0M YoY+80.6%
Current lease liability	14.4M YoY+29.7%	11.1M YoY-1.8%	11.3M YoY+11.9%	10.1M YoY+31.2%	7.70M YoY+5.5%
Finance lease liability (current)	400K YoY+33.3%	300K YoY+0.0%	300K YoY-40.0%	500K YoY+0.0%	500K YoY-50.0%
Long-term debt	497M YoY-13.9%	577M YoY+10.3%	523M YoY+115.3%	243M YoY+5.3%	231M YoY-24.1%
Deferred revenue (non-current)	3.60M YoY-10.0%	4.00M YoY+0.0%	4.00M YoY-14.9%	4.70M YoY-19.0%	5.80M YoY+70.6%
Non-current lease liability	61.4M YoY+38.0%	44.5M YoY+56.1%	28.5M YoY-15.7%	33.8M YoY+7.3%	31.5M YoY+1.9%
Operating lease liability (total)	75.8M YoY+36.3%	55.6M YoY+39.7%	39.8M YoY-9.3%	43.9M YoY+12.0%	39.2M YoY+2.6%
Finance lease liability (total)	1.10M YoY-8.3%	1.20M YoY+140.0%	500K YoY-28.6%	700K YoY-36.4%	1.10M YoY-57.7%
Finance lease liability	700K YoY-22.2%	900K YoY+350.0%	200K YoY+0.0%	200K YoY-66.7%	600K YoY-62.5%
Other non-current liabilities	246M YoY+9.5%	224M YoY+9.8%	204M YoY-2.0%	208M YoY-73.6%	789M YoY+6.4%
Total non-current liabilities	906M YoY-0.6%	912M YoY+8.0%	844M YoY+62.9%	518M YoY-52.3%	1.09B YoY-3.1%
	2.24B YoY+61.6%	1.38B YoY+15.9%	1.19B YoY+10.7%	1.08B YoY-2.1%	1.10B YoY+72.3%
Additional paid-in capital	1.94B YoY+41.1%	1.37B YoY+1.5%	1.35B YoY+1.1%	1.34B YoY+0.3%	1.33B YoY+1.1%
Retained earnings	483M YoY+102.2%	239M YoY+523.5%	38.3M YoY+174.2%	-51.6M YoY+0.4%	-51.8M YoY+89.1%
Treasury stock	445M YoY-1.6%	452M YoY-1.5%	459M YoY-1.4%	466M YoY+4.9%	444M YoY-1.7%
Accumulated other comprehensive income	261M YoY+16.5%	224M YoY-14.4%	261M YoY+1.4%	258M YoY-2.4%	264M YoY+6.2%
Total equity incl. non-controlling	—	—	—	—	1.10B YoY+72.3%
Total liabilities & equity	3.60B YoY+32.8%	2.71B YoY+11.3%	2.44B YoY+26.4%	1.93B YoY-26.5%	2.63B YoY+12.6%
	57.6M YoY+6.2%	54.2M YoY+1.1%	53.6M YoY+0.5%	53.4M YoY+0.6%	53.0M YoY+0.6%
	49.9M YoY+7.5%	46.4M YoY+1.5%	45.7M YoY+0.8%	45.3M YoY-0.4%	45.5M YoY+1.0%
	49.9M YoY+7.5%	46.4M YoY+1.5%	45.7M YoY+0.8%	45.3M YoY-0.3%	45.5M YoY+0.9%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	333M YoY+16.6%	286M YoY+37.1%	209M YoY+252.4%	-137M YoY-178.4%	175M YoY+38.2%
Depreciation & amortization	123M YoY+33.8%	91.6M YoY+44.9%	63.2M YoY+36.2%	46.4M YoY+9.7%	42.3M YoY+32.6%
Intangible amortization	91.3M YoY+41.6%	64.5M YoY+46.9%	43.9M YoY+54.0%	28.5M YoY+31.9%	21.6M YoY+54.3%
Share-based compensation	16.7M YoY+11.3%	15.0M YoY+11.9%	13.4M YoY+22.9%	10.9M YoY-14.8%	12.8M YoY-2.3%
Deferred income taxes	26.1M YoY+272.8%	-15.1M YoY+40.1%	-25.2M YoY-17.8%	-21.4M YoY-1428.6%	-1.40M YoY-566.7%
Change in inventory	-2.80M YoY+69.2%	-9.10M YoY-393.5%	3.10M YoY-94.2%	53.4M YoY+154.3%	21.0M
	-561M YoY-97.2%	-285M YoY+50.1%	-570M YoY-762.6%	-66.1M YoY-121.0%	314M YoY+349.1%
Capital expenditure	92.1M YoY+142.4%	38.0M YoY+59.0%	23.9M YoY+50.3%	15.9M YoY+65.6%	9.60M YoY-37.3%
Free cash flow	241M YoY-2.7%	248M YoY+34.3%	185M YoY+220.9%	-153M YoY-192.5%	165M YoY+48.6%
Acquisitions	445M YoY+52.4%	292M YoY-46.6%	547M YoY+1267.5%	40.0M YoY-84.9%	265M YoY+154.0%
	426M YoY+701.3%	53.1M YoY-82.8%	310M YoY+895.9%	-38.9M YoY+76.8%	-168M YoY-1154.1%
Long-term debt issued	1.26B YoY+91.6%	657M YoY-37.3%	1.05B YoY+327.3%	245M YoY-37.1%	390M YoY+17.3%
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	551M	0.00	0.00	0.00	0.00
Common stock repurchased	0.00	0.00	0.00 YoY-100.0%	33.7M	0.00
Dividends paid	0.00	0.00	0.00	0.00	0.00
Other financing activities	100K YoY+108.3%	-1.20M YoY-200.0%	-400K YoY+50.0%	-800K YoY-100.0%	-400K YoY+81.8%
FX effect on cash	6.80M YoY+240.0%	2.00M YoY+2100.0%	-100K YoY-103.4%	2.90M YoY-56.1%	6.60M YoY+364.0%
Net change in cash	205M YoY+262.1%	56.5M YoY+208.2%	-52.2M YoY+78.1%	-239M YoY-172.9%	328M YoY+2309.6%
Interest paid	41.7M YoY-3.9%	43.4M YoY+69.5%	25.6M YoY+293.8%	6.50M YoY-43.0%	11.4M YoY-34.9%
Income taxes paid	57.3M YoY+31.7%	43.5M YoY-25.5%	58.4M YoY+198.0%	-59.6M YoY-983.6%	-5.50M YoY-172.4%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	9.98B YoY+47.8%	6.75B YoY+46.4%	4.61B YoY+55.4%	2.97B YoY+9.3%	2.71B YoY+10.4%
P/E	40.9× YoY+21.5%	33.7× YoY-77.3%	148.3× YoY+69.4%	87.5× YoY+1271.1%	6.4× YoY-74.3%
P/S	4.4× YoY+29.5%	3.4× YoY+25.5%	2.7× YoY+26.2%	2.1× YoY-3.6%	2.2× YoY+2.2%
P/B	4.5× YoY-8.5%	4.9× YoY+21.3%	4.0× YoY+46.3%	2.7× YoY+11.6%	2.5× YoY-35.9%
P/FCF	41.4× YoY+51.9%	27.2× YoY-80.3%	138.5×	—	16.5× YoY-25.7%
	2.4% YoY-17.7%	3.0% YoY+340.4%	0.67% YoY-41.0%	1.1% YoY-92.7%	15.7% YoY+289.1%
	2.4% YoY-34.2%	3.7% YoY+408.6%	0.72%	—	6.1% YoY+34.6%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: SPXC's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all SPXC filings on SEC EDGAR → Not investment advice.