SPX Corp (SPXC) fair value: what the stock is really worth
As of Nov 4, 2026: fair value (intrinsic value) of SPX Corp stock $78.58, price $153, that is 48.8% below the price, quality 49 out of 100. Rating: strongly overvalued. Calculated from audited financials with 23 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range $41.90 – $246.41 · fair‑value band $54.22 – $105.29 · the $153.47 price screens above the $78.58 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 5, 2026.
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SPX Technologies, Inc. engages in the supply of engineered solutions serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets in the United States, Canada, China, the United Kingdom, and internationally.
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The company operates in two segments, HVAC and Detection and Measurement.
The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement and handling solutions for the industrial, institutional, and commercial HVAC markets, as well as hydronic and electrical heating and ventilation products for the residential, industrial, institutional, and commercial markets.
It offers cooling products and engineered air movement and handling solutions under the Marley, Recold, SGS, Cincinnati Fan, TAMCO, Ingénia, Air Enterprises, and Rahn Industries brand names; hydronics and electrical heating and ventilation products under the under the Berko, Qmark, Fahrenheat, Leading Edge, Patterson-Kelley, Weil-McLain, Sigma, Omega, Skypeak, Thermolec, Williamson-Thermoflo, INDEECO, Heatrex, AccuTherm, Brasch, Spectrum, BannerDay PipeHeating, and Solar Products brands.
The Detection and Measurement segment offers underground pipe and cable locators, inspection and rehabilitation equipment, robotic systems under the Radiodetection, Pearpoint, Schonstedt, Dielectric, Cues, ULC Robotics, and Sensors & Software brands; transportation systems under the Genfare brand; communication technologies under the TCI, ECS, and KTS brands; and aids to navigation products under the Flash Technology, ITL, Sabik Marine, Sealite, and Avlite brands.
The company markets its products through consumers, independent manufacturing representatives, third-party distributors, and retailers. The company was formerly known as SPX Corporation and changed its name to SPX Technologies, Inc. in August 2022.
SPX Technologies, Inc. is headquartered in Charlotte, North Carolina.
Stock analysis
SPX Corp (SPXC) currently trades at $153.47, while our model-based Fair Value estimate is $78.58, 49% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $83.33 per share, and 0 of the 23 models we run sit above the $153.47 price.
Bear case: the Economic Profit group reads lowest at $43.25, and 23 of the 23 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $54.22 (bear) to $105.29 (bull), the price of $153.47 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 49/100 (below-average quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
SPX Corp reported revenue of $2.3B in FY2025 versus $1.2B in FY2021, a compound +16.7%/yr. Reported net income was $246M in FY2025, compounding −12.8%/yr from FY2021.
Key figures
Market cap $7.8B Mid · P/E ratio 25.5 · P/S ratio 2.99 · EPS (TTM) $6.01 · Net margin 11.5% · Return on equity 13.3% · Return on assets (EBIT) 7.3% · Operating margin 15.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 55 out of 100 (low confidence).
What moves the price
The share trades about 38% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −34% fair-value upside, at −49%, SPXC screens richer than that median.
Fair Value models
Bear$54.22Fair Value $78.58Bull$105.29
Price $153.47 · Downside -48.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($5.09 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, no officer or director bought or sold shares on the open market.
SaleEugene Joseph Lowe IIIPRESIDENT AND CEO, Director41,416 shares at $225.17$9.3MMar 2, 2026
SaleJ Randall DataPRES., HEATING AND GLOBAL OPER12,000 shares at $215.37$2.6MDec 11, 2025
SaleJohn William Swann IIIPRES., DETECTION & MEASUREMENT38,755 shares at $206.07$8.0MNov 19, 2025
Plus 12 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+14.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.0%
Start year 2020 (pandemic). Over 10 years: +3.8% a year
Revenue growth 40 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.3%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+18.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+18.5%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.18.5% vs −5.7%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.9% → 17%
2025 sits 162% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+20.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+14.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +17.7% a year for the price and +12.3% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (95 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: The acquisition of FIS Water strengthens the HVAC Cooling platform by adding complementary water management products for data centers and industry, but the business shows no strong evidence of a durable moat and only moderate financial metrics.
Main risk: A shift toward warm-water or direct liquid cooling in data centers, as hinted by Nvidia, could reduce the role of SPX's air-cooled cooling towers and fluid coolers for heat rejection.
Bull case: SPX could integrate its towers as essential heat rejection components in hybrid liquid-cooled systems and leverage acquisitions like FIS Water to broaden offerings for hyperscalers.
Bear case: If data center cooling shifts decisively to liquid systems or hyperscalers consolidate suppliers, SPX's HVAC growth could stall and leave expanded capacity underutilized.
SPX Technologies recently completed the acquisition of FIS Water, adding specialized water management and filtration products to its HVAC Cooling platform. These offerings complement existing cooling towers with shared customers, channels and applications in data centers and industry. Our models see the shares as overvalued, so will the integration expand margins through operational leverage or mainly boost top-line growth at modest incremental returns?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Building Products & Equipment · 254 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside−48.8% · Below median
Profitability
Return on equity (12 months)13.3% · Top 25%
Return on assets6.8% · Top 25%
Net margin (12 months)11.5% · Top 25%
Operating margin (12 months)15.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)20.5% · Top 25%
Balance sheet
Debt / equity0.22× · Above median
Valuation Multiplesvs Building Products & Equipment median · lower = cheaper
P/E (12 months)25.5× · Pricier than median
P/B3.48× · Priciest 25%
P/S (12 months)2.99× · Priciest 25%
Price / free cash flow32.2× · Priciest 25%
EV/EBITDA14.3× · Pricier than median
PEG0.90× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 13
FUTURE (revenue growth)100· sector 25
PAST (return on equity)53· sector 24
HEALTH (low debt)89· sector 95
DIVIDEND (yield)0· sector 43
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "SPX Corp Fair Value". https://www.fairvalue-calculator.com/stock/SPXC
Frequently asked questions
Is SPX Corp (SPXC) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of $78.58 versus a price of $153.47, about 49% lower (overvalued).
What is the fair value of SPXC?
Our model-based fair value for SPX Corp is $78.58 (as of Nov 5, 2026), built from audited fundamentals. The current price: $153.47.
What is the quality score of SPXC?
SPX Corp has a Quality Score of 49/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for SPX Corp (SPXC)?
Our model-based price target is the fair value of $78.58 (as of Nov 5, 2026) from 23 valuation models. Cautious scenario $54.22, optimistic scenario $105.29. It is a calculation from audited fundamentals, not an analyst target.
What is the SPX Corp stock forecast for 2026?
Our models put fair value at $78.58, about 49% lower versus a price of $153.47 (overvalued). Cautious scenario $54.22, optimistic scenario $105.29. The calculation is refreshed regularly with new filings.
What is the revenue of SPX Corp (SPXC)?
SPX Corp reported trailing-twelve-month revenue of about $2.6B (latest available figure, as of Nov 5, 2026).
What growth is priced into SPX Corp (SPXC)?
For today's price to be fair in a discounted-cash-flow model, SPX Corp would have to grow free cash flow by +20.5 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +15.0 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of SPXC use?
Our models discount SPX Corp at 10.3 %: a base by market capitalisation (mid), damped by beta 1.24, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For SPX Corp that is +20.5 % per year a year over ten years, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has SPX Corp (SPXC) delivered so far?
Over the past 5 years revenue at SPX Corp grew +15.0 % a year. The price currently implies +20.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of SPX Corp (SPXC) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into SPX Corp (+20.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of SPX Corp (SPXC)?
The free-cash-flow yield on the price is 3.10 %: that much free cash flow SPX Corp produces per unit of market value. When it exceeds the discount rate of our models (10.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of SPX Corp (SPXC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SPX Corp it is $78.58 per share (as of Nov 5, 2026), against a price of $153.47. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is SPX Corp stock overvalued or undervalued in 2026?
As of Nov 5, 2026, SPXC trades above its calculated fair value: price $153.47, fair value $78.58, a gap of about −49% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SPXC?
No. The price is what the market pays today ($153.47); the fair value is what the company's own numbers justify ($78.58). For SPX Corp the two are $74.89 per share apart. That gap is exactly why we show both numbers side by side.
How much is SPX Corp worth?
The market values SPX Corp at about $7.8B (market capitalisation, as of Nov 5, 2026). Per share that is $153.47; our models calculate a fair value of $78.58 per share.
What do the bullish and bearish scenarios say about SPXC?
Our models span a range for SPX Corp: cautious scenario $54.22, base $78.58, optimistic $105.29 per share (as of Nov 5, 2026, price $153.47). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SPXC?
SPX Corp trades at a price-to-earnings ratio of 25.5 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $78.58 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings: 32.3. Other multiples: PEG 0.9, P/B 3.5, P/S 3.0, EV/EBITDA 14.3.
What is the PEG ratio of SPXC?
The PEG ratio of SPX Corp is 0.90 (P/E divided by earnings growth, as of Nov 5, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of SPX Corp (SPXC)?
Balance-sheet figures for SPX Corp (as of Nov 5, 2026): return on equity 13.3%, debt of 0.22 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is SPXC from its 52-week high?
SPX Corp trades at $153.47, about 38% below its 52-week high of $246.41 and at the low of $153.47 (as of Nov 4, 2026). Distance from the high says nothing about value: that is what the fair value of $78.58 is for.
Which stocks are comparable to SPX Corp?
From the same area (Industrials) we also value Johnson Controls International plc, Trane Technologies plc, Carrier Global Corporation, Compagnie de Saint-Gobain S.A, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is SPX Corp stock attractive at the current price?
The data as of Nov 5, 2026: price $153.47, calculated fair value $78.58 (−49%), Quality Score 49/100, from 23 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of SPXC calculated?
We run SPX Corp through 23 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $78.58, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.6% above its aggregate fair value. SPX Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of SPX Corp (SPXC)?
The closing price on Nov 4, 2026 was $153.47. Our model-based fair value is $78.58, about 49% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SPX Corp right now?
The price sits above even our optimistic bull case ($105.29). The favourable scenario is already priced in. Weak quality (49/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range ($54.22 to $105.29) leaves room in how you read the outcome.
Key figures of SPX Corp
How large is the market capitalisation of SPX Corp (SPXC)?
The market capitalisation of SPX Corp is $7.8B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of SPX Corp (SPXC)?
The price-to-sales ratio of SPX Corp is 2.99 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of SPX Corp (SPXC)?
Earnings per share at SPX Corp are $6.01 (price ÷ EPS = P/E 25.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of SPX Corp (SPXC)?
The net margin of SPX Corp is 11.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of SPX Corp (SPXC)?
The return on equity (ROE) of SPX Corp is 13.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of SPX Corp (SPXC)?
On an EBIT basis the return on assets of SPX Corp is 7.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of SPX Corp (SPXC)?
The operating margin of SPX Corp is 15.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SPX Corp (SPXC)?
Revenue at SPX Corp is growing +20.5% versus a year earlier (3y avg +15.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at SPX Corp (SPXC)?
Earnings per share at SPX Corp are growing +25.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does SPX Corp (SPXC) carry?
The net debt of SPX Corp is $134M (fiscal year 2025, ≈ 0.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 5, 2026