“Cash flows used in investing activities for the three months ended March 29, 2025 were comprised primarily of net cash utilized in acquisitions, including KTS, of $304.1 and capital expenditures of $5.5, partially offset by net proceeds from COLI policies of…”10-Q · May 1, 2026 ↗
SPX Technologies, Inc.
SPXC
Market read
SPX Technologies, Inc.'s current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 25 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 2 directly disclosed connections are confirming.
- Revenue increased 17.4% versus the comparable filing period.
- Reported $439.6 million of cash used for Thermolec and Crawford acquisitions in the three months ended March 28, 2026.
Invalidation: The isolated read changes if SPXC's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 25 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 2 directly disclosed connections are confirming.
- Revenue increased 17.4% versus the comparable filing period.
- Operating margin improved 1.7 percentage points.
- Net income increased 17.0% versus the comparable filing period.
No thresholded adverse filing evidence is available yet.
- Reported $439.6 million of cash used for Thermolec and Crawford acquisitions in the three months ended March 28, 2026.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Latest annual revenue changed +14.2% year over year.
- Capital investment and capacity has repeated favorable evidence across 4 filings.
- Demand and volume has repeated favorable evidence across 4 filings.
- Diluted shares increased 3.0% in the latest annual period.
- P/E is 31% above the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 43% above the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 10, 2026
187.12Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“T hese net borrowings were partially offset by minimum tax withholdings paid on behalf of employees related to long-term incentive awards, net of proceeds from options exercised, of $9.8.”10-Q · May 1, 2026 ↗
“This increase was partially offset by growth-related increases to working capital, inclusive of growth in inventory to support our higher backlog.”10-Q · May 1, 2026 ↗
“products primarily associated with increased data center demand and higher throughput resulting from increased capacity and (ii) higher volumes of heating products.”10-Q · May 1, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 4.0× · EV/sales 3.8×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for SPXC. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
Fundamentals strengthened in the latest filing
10-Q filed 2026-05-01 against the comparable filing from 2025-05-02.
What improved
- Revenue increased 17.4% versus the comparable filing period.
- Operating margin improved 1.7 percentage points.
- Net income increased 17.0% versus the comparable filing period.
What weakened
No thresholded deterioration was identified.
Filing receipts
“Income — For the three months ended March 28, 2026, the increases in income and margin, compared to the respective period in 2025, were primarily due to the revenue growth mentioned above and a more favorable product mix, inclusive of higher software-as-a-service revenue within our transportation systems business which has higher-than-typical margins.”
“This increase was partially offset by growth-related increases to working capital, inclusive of growth in inventory to support our higher backlog.”
“The increase in corporate expense during the three months ended March 28, 2026, compared to the respective period in 2025, was primarily due to higher expense related to acquisition and integration-related costs of $0.5, predominantly driven by the Crawford and Thermolec acquisitions.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind SPXC
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
DCIDonaldson Company, Inc.investeeFeb 25, 2026 ▾
“Changes in Estimated Value of an Equity Security - Filtran Group Equity, LLC (“Filtran”) ◦ During 2025, we recorded gains of $23.0 within “ Other income (expense), net ” related to increases in the estimated value of an equity security in Filtran that we hold.”
PHParker-Hannifin CorporationinvesteeFeb 25, 2026 ▾
“Changes in Estimated Value of an Equity Security - Filtran Group Equity, LLC (“Filtran”) ◦ During 2025, we recorded gains of $23.0 within “ Other income (expense), net ” related to increases in the estimated value of an equity security in Filtran that we hold.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 5 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
SPXC is currently a Follower in the organic co-movement group Industrial Infrastructure. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.