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SPX

NYSE:SPXC
Snowflake Description

Moderate growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SPXC
NYSE
$2B
Market Cap
  1. Home
  2. US
  3. Capital Goods
Company description

SPX Corporation supplies infrastructure equipment serving the heating, ventilation and cooling (HVAC), detection and measurement, power transmission and generation, and industrial markets in the United States, China, South Africa, the United Kingdom, and internationally. The last earnings update was 55 days ago. More info.


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  • SPX has significant price volatility in the past 3 months.
SPXC Share Price and Events
7 Day Returns
12.8%
NYSE:SPXC
10.2%
US Machinery
8%
US Market
1 Year Returns
-6.9%
NYSE:SPXC
-17%
US Machinery
-8.1%
US Market
SPXC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
SPX (SPXC) 12.8% -17.8% -32% -6.9% 52.7% -60.3%
US Machinery 10.2% -4.2% -23.8% -17% 1.6% 12.8%
US Market 8% -4.5% -17.8% -8.1% 13.2% 23.7%
1 Year Return vs Industry and Market
  • SPXC outperformed the Machinery industry which returned -17% over the past year.
  • SPXC outperformed the Market in United States of America which returned -8.1% over the past year.
Price Volatility
SPXC
Industry
5yr Volatility vs Market

Value

 Is SPX undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of SPX to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for SPX.

NYSE:SPXC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.9%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:SPXC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Machinery Unlevered Beta Simply Wall St/ S&P Global 0.99
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.988 (1 + (1- 21%) (27.72%))
1.137
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.14
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (1.137 * 5.44%)
7.92%

Discounted Cash Flow Calculation for NYSE:SPXC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for SPX is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NYSE:SPXC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.92%)
2020 149.50 Analyst x3 138.52
2021 150.15 Analyst x2 128.91
2022 151.35 Est @ 0.8% 120.41
2023 152.99 Est @ 1.08% 112.78
2024 154.95 Est @ 1.28% 105.83
2025 157.15 Est @ 1.42% 99.45
2026 159.53 Est @ 1.51% 93.55
2027 162.05 Est @ 1.58% 88.05
2028 164.69 Est @ 1.63% 82.92
2029 167.43 Est @ 1.66% 78.11
Present value of next 10 years cash flows $1,048.00
NYSE:SPXC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $167.43 × (1 + 1.74%) ÷ (7.92% – 1.74%)
$2,755.03
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,755.03 ÷ (1 + 7.92%)10
$1,285.24
NYSE:SPXC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,048.00 + $1,285.24
$2,333.24
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,333.24 / 44.58
$52.34
NYSE:SPXC Discount to Share Price
Calculation Result
Value per share (USD) From above. $52.34
Current discount Discount to share price of $33.91
= -1 x ($33.91 - $52.34) / $52.34
35.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price SPX is available for.
Intrinsic value
35%
Share price is $33.91 vs Future cash flow value of $52.34
Current Discount Checks
For SPX to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • SPX's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • SPX's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for SPX's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are SPX's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:SPXC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $1.71
NYSE:SPXC Share Price ** NYSE (2020-04-08) in USD $33.91
United States of America Machinery Industry PE Ratio Median Figure of 97 Publicly-Listed Machinery Companies 15.55x
United States of America Market PE Ratio Median Figure of 2,949 Publicly-Listed Companies 13.31x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of SPX.

NYSE:SPXC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:SPXC Share Price ÷ EPS (both in USD)

= 33.91 ÷ 1.71

19.79x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • SPX is overvalued based on earnings compared to the US Machinery industry average.
  • SPX is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does SPX's expected growth come at a high price?
Raw Data
NYSE:SPXC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 19.79x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
25.3%per year
United States of America Machinery Industry PEG Ratio Median Figure of 82 Publicly-Listed Machinery Companies 1.11x
United States of America Market PEG Ratio Median Figure of 2,009 Publicly-Listed Companies 0.9x

*Line of best fit is calculated by linear regression .

NYSE:SPXC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 19.79x ÷ 25.3%

0.78x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • SPX is good value based on expected growth next year.
Price based on value of assets
What value do investors place on SPX's assets?
Raw Data
NYSE:SPXC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $11.37
NYSE:SPXC Share Price * NYSE (2020-04-08) in USD $33.91
United States of America Machinery Industry PB Ratio Median Figure of 127 Publicly-Listed Machinery Companies 1.63x
United States of America Market PB Ratio Median Figure of 5,163 Publicly-Listed Companies 1.29x
NYSE:SPXC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:SPXC Share Price ÷ Book Value per Share (both in USD)

= 33.91 ÷ 11.37

2.98x

* Primary Listing of SPX.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • SPX is overvalued based on assets compared to the US Machinery industry average.
X
Value checks
We assess SPX's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Machinery industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Machinery industry average (and greater than 0)? (1 check)
  5. SPX has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is SPX expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
25.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is SPX expected to grow at an attractive rate?
  • SPX's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • SPX's earnings growth is expected to exceed the United States of America market average.
  • SPX's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:SPXC Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:SPXC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 25.3%
NYSE:SPXC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 2%
United States of America Machinery Industry Earnings Growth Rate Market Cap Weighted Average 5.3%
United States of America Machinery Industry Revenue Growth Rate Market Cap Weighted Average 0.6%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 6.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:SPXC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:SPXC Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31
2021-12-31 1,589 178 132 4
2020-12-31 1,550 160 119 4
2020-04-09
NYSE:SPXC Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 1,525 149 75
2019-09-28 1,526 167 81
2019-06-29 1,524 132 66
2019-03-30 1,530 119 66
2018-12-31 1,539 111 78
2018-09-29 1,481 70 99
2018-06-30 1,467 67 114
2018-03-31 1,437 48 86
2017-12-31 1,426 47 84
2017-09-30 1,434 43 21
2017-07-01 1,431 30 6
2017-04-01 1,452 70 3

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • SPX's earnings are expected to grow significantly at over 20% yearly.
  • SPX's revenue is expected to grow by 2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:SPXC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from SPX Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:SPXC Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 2.89 3.35 2.48 4.00
2020-12-31 2.50 3.05 2.17 3.00
2020-04-09
NYSE:SPXC Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 1.71
2019-09-28 1.84
2019-06-29 1.52
2019-03-30 1.53
2018-12-31 1.82
2018-09-29 2.31
2018-06-30 2.67
2018-03-31 2.02
2017-12-31 1.98
2017-09-30 0.50
2017-07-01 0.13
2017-04-01 0.08

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • SPX is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess SPX's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
SPX has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has SPX performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare SPX's growth in the last year to its industry (Machinery).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • SPX has delivered over 20% year on year earnings growth in the past 5 years.
  • SPX's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • SPX's 1-year earnings growth is negative, it can't be compared to the US Machinery industry average.
Earnings and Revenue History
SPX's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from SPX Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:SPXC Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 1,525.40 75.30 328.40
2019-09-28 1,525.80 80.50 309.60
2019-06-29 1,523.50 66.10 309.00
2019-03-30 1,530.30 66.40 302.60
2018-12-31 1,538.60 78.20 294.10
2018-09-29 1,480.60 98.90 289.10
2018-06-30 1,466.60 114.10 281.10
2018-03-31 1,437.10 86.10 281.90
2017-12-31 1,425.80 84.00 282.30
2017-09-30 1,434.10 21.00 289.30
2017-07-01 1,430.60 5.60 294.90
2017-04-01 1,452.30 3.30 295.00
2016-12-31 1,472.30 12.60 301.00
2016-10-01 1,426.20 50.80 257.30
2016-07-02 1,455.30 -60.90 295.60
2016-04-02 1,543.30 -59.60 323.50
2015-12-31 1,559.00 -117.30 364.10
2015-09-26 1,765.40 -245.70 517.40
2015-06-27 1,880.90 -153.10 522.50
2015-03-28 1,251.90 -209.60 409.20
2014-12-31 1,694.40 124.10 511.20
2014-09-27 2,772.20 313.30 620.10
2014-06-28 3,428.40 389.70 733.00
2014-03-29 4,759.90 492.70 978.70
2013-12-31 1,968.80 7.10 443.90
2013-09-28 4,764.20 -145.70 1,090.90
2013-06-29 4,795.10 -163.50 1,092.10

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • SPX has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • SPX used its assets less efficiently than the US Machinery industry average last year based on Return on Assets.
  • SPX has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess SPX's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Machinery industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
SPX has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is SPX's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up SPX's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • SPX is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • SPX's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of SPX's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from SPX Company Filings, last reported 3 months ago.

NYSE:SPXC Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 502.40 390.80 54.70
2019-09-28 461.30 380.30 49.30
2019-06-29 436.70 399.10 34.60
2019-03-30 415.30 419.00 39.00
2018-12-31 414.90 380.00 68.80
2018-09-29 369.70 463.00 61.90
2018-06-30 358.60 473.90 66.70
2018-03-31 333.20 356.60 103.70
2017-12-31 314.70 354.70 124.30
2017-09-30 255.00 368.00 87.20
2017-07-01 208.70 367.40 83.50
2017-04-01 211.00 354.50 92.70
2016-12-31 191.60 356.20 99.60
2016-10-01 273.40 364.00 83.40
2016-07-02 272.60 373.90 102.00
2016-04-02 285.30 389.50 97.90
2015-12-31 308.30 371.80 97.20
2015-09-26 319.10 422.00 82.50
2015-06-27 1,759.10 1,474.90 328.90
2015-03-28 1,687.70 1,486.10 363.10
2014-12-31 1,811.90 733.10 237.20
2014-09-27 2,055.20 1,453.70 501.90
2014-06-28 2,256.40 1,265.20 466.20
2014-03-29 2,363.10 1,126.60 486.00
2013-12-31 2,172.00 1,602.60 691.80
2013-09-28 2,141.50 1,686.80 490.70
2013-06-29 2,011.60 1,692.20 352.90
  • SPX's level of debt (77.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (37.6% vs 77.8% today).
  • Debt is well covered by operating cash flow (38%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.4x coverage).
X
Financial health checks
We assess SPX's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. SPX has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is SPX's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from SPX dividends. Estimated to be 0% next year.
If you bought $2,000 of SPX shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate SPX's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate SPX's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:SPXC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America Machinery Industry Average Dividend Yield Market Cap Weighted Average of 74 Stocks 2.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1933 Stocks 2.8%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.9%
United States of America Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:SPXC Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.00 1.00
2021-12-31 0.00 1.00
2020-12-31 0.00 1.00
2020-04-09
NYSE:SPXC Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2017-05-05 0.000 0.000
2017-05-04 0.000 0.000
2017-02-24 0.000 0.000
2017-02-23 0.000 0.000
2016-11-04 0.000 0.000
2016-11-03 0.000 0.000
2016-08-05 0.000 0.000
2016-08-04 0.000 0.000
2016-05-06 0.000 0.000
2016-05-05 0.000 0.000
2016-02-26 0.000 0.000
2016-02-25 0.000 0.000
2015-11-05 0.000 0.000
2015-11-04 0.000 0.000
2015-05-28 1.500 4.838
2015-02-27 1.500 1.829
2014-11-20 1.500 1.755
2014-08-21 1.500 1.578
2014-05-28 1.500 1.424
2014-02-27 1.500 1.478
2014-02-21 1.500 1.409
2014-02-12 1.500 1.436
2013-11-20 1.000 1.028
2013-08-22 1.000 1.186
2013-05-28 1.000 1.324
2013-02-21 1.000 1.294
2012-11-27 1.000 1.421
2012-08-23 1.000 1.503
2012-05-25 1.000 1.555
2012-02-23 1.000 1.325
2011-11-23 1.000 1.529
2011-08-25 1.000 1.900
2011-05-27 1.000 1.421
2011-02-24 1.000 1.249
2010-11-24 1.000 1.343
2010-08-26 1.000 1.566
2010-05-28 1.000 1.754
2010-02-19 1.000 1.562
2009-11-25 1.000 1.776
2009-08-27 1.000 1.721
2009-05-29 1.000 1.950

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as SPX has not reported any payouts.
  • Unable to verify if SPX's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of SPX's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as SPX has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of SPX's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess SPX's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can SPX afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. SPX has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of SPX's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Gene Lowe
COMPENSATION $7,608,668
AGE 51
TENURE AS CEO 4.6 years
CEO Bio

Mr. Eugene Joseph Lowe, III, also known as Gene, has been the Chief Executive Officer and President at SPX Corporation since September 26, 2015. Mr. Lowe is responsible for managing the day-to-day operations of SPX and for planning, formulating, and coordinating the development and execution of its corporate strategy, policies, goals, and objectives. Mr. Lowe is accountable for Company performance. He was appointed an officer of SPX in 2014. He has served as a Director of Federal Signal Corporation since February 19, 2019. Mr. Lowe serves as a Member of Management Board at Balcke-Dürr GmbH. Mr. Lowe has valuable operations, strategic planning, marketing, and business development experience. He served as Segment President of Thermal Equipment and Services at SPX Corporation since February 2013 until September 14, 2015. Mr. Lowe joined SPX Corporation in 2008 as the Vice President of marketing and business development for the Thermal Equipment and Services segment from 2008 to 2010 and had been the President of the Global Evaporative Cooling business from March 2010 to February 2013. Prior to joining SPX, Mr. Lowe served at Milliken & Company, Bain & Company and Lazard Technology Partners. He was a Principal of Lazard Technology Partners (LTP) and Lazard Technology Partners II, L.P. Prior to joining LTP, Mr. Lowe spent three years with Bain and Company, helping several technology and IT services companies develop and implement e-commerce strategies, Partnering/marketing programs and significant operational improvements. Mr. Lowe also spent four years developing leading edge enterprise software solutions with Andersen Consulting's technology practice and Grumman Data Systems. Mr. Lowe has worked with many early stage technology companies. He joined Bluestreak, Inc. Board of Directors on January 19, 2000. His areas of interest include enterprise software and applications, security software, data management and analysis software and Internet technologies. He has been a Director of SPX Corporation since September 14, 2015. Mr. Lowe serves on the Board of Directors of Bluestreak, Inc, Odigo and Marketing Technology Solutions as well as representing LTP's interests in Inshop/800America. Mr. Lowe holds MBA from Dartmouth's Tuck School of Business and a BS in Management Science Computer Based Decision Support Systems from Virginia Tech.

CEO Compensation
  • Gene's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
  • Gene's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the SPX management team in years:

4.7
Average Tenure
49
Average Age
  • The tenure for the SPX management team is about average.
Management Team

Gene Lowe

TITLE
President
COMPENSATION
$8M
AGE
51
TENURE
4.6 yrs

Scott Sproule

TITLE
VP, CFO & Treasurer
COMPENSATION
$2M
AGE
49
TENURE
4.6 yrs

Randy Data

TITLE
President of South Africa & Global Operations
COMPENSATION
$2M
AGE
53
TENURE
4.7 yrs

John Nurkin

TITLE
VP, General Counsel & Secretary
COMPENSATION
$2M
AGE
49
TENURE
4.6 yrs

John Swann

TITLE
President of Weil-McLain
COMPENSATION
$2M
AGE
48

Michael Reilly

TITLE
Chief Accounting Officer
TENURE
15.3 yrs

Paul Clegg

TITLE
Vice President of Investor Relations & Communications

Vivek Dhir

TITLE
Vice President of Global Marketing & Business Development

Tausha White

TITLE
VP & Chief Human Resources Officer
COMPENSATION
$1M
AGE
47
TENURE
5 yrs

Ross Skelton

TITLE
Chief Commercial Officer
TENURE
6.7 yrs
Board of Directors Tenure

Average tenure and age of the SPX board of directors in years:

4.6
Average Tenure
59.5
Average Age
  • The tenure for the SPX board of directors is about average.
Board of Directors

Patrick O'Leary

TITLE
Independent Non-Executive Chairman
COMPENSATION
$340K
AGE
61
TENURE
4.6 yrs

Gene Lowe

TITLE
President
COMPENSATION
$8M
AGE
51
TENURE
4.6 yrs

Dave Roberts

TITLE
Independent Director
COMPENSATION
$220K
AGE
71
TENURE
4.8 yrs

Ruth Shaw

TITLE
Independent Director
COMPENSATION
$225K
AGE
71
TENURE
4.6 yrs

Rick Puckett

TITLE
Independent Director
COMPENSATION
$235K
AGE
66
TENURE
4.6 yrs

Tana Utley

TITLE
Independent Director
COMPENSATION
$205K
AGE
55
TENURE
4.6 yrs

Bob Toth

TITLE
Independent Director
COMPENSATION
$208K
AGE
58
TENURE
2.8 yrs

Meenal Sethna

TITLE
Independent Director
COMPENSATION
$88K
AGE
49
TENURE
0.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess SPX's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. SPX has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Is SPX Corporation's (NYSE:SPXC) High P/E Ratio A Problem For Investors?

The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for SPX: P/E of 24.23 = $36.82 ÷ $1.52 (Based on the year to June 2019.) Is A High Price-to-Earnings Ratio Good? … A higher P/E ratio means that buyers have to pay a higher price for each $1 the company has earned over the last year. … Earnings growth means that in the future the 'E' will be higher.

Simply Wall St -

Have Insiders Been Selling SPX Corporation (NYSE:SPXC) Shares This Year?

For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year.' See our latest analysis for SPX SPX Insider Transactions Over The Last Year In the last twelve months, the biggest single sale by an insider was when the VP, General Counsel &amp; Secretary, John Nurkin, sold US$489k worth of shares at a price of US$29.08 per share. … In the last year SPX insiders didn't buy any company stock. … You can see the insider transactions (by individuals) over the last year depicted in the chart below.

Simply Wall St -

Is SPX Corporation (NYSE:SPXC) Excessively Paying Its CEO?

According to our data, SPX Corporation has a market capitalization of US$1.5b, and pays its CEO total annual compensation worth US$5.3m. … It would therefore appear that SPX Corporation pays Gene Lowe more than the median CEO remuneration at companies of a similar size, in the same market. … We compared total CEO remuneration at SPX Corporation with the amount paid at companies with a similar market capitalization.

Simply Wall St -

Is SPX Corporation (NYSE:SPXC) Trading At A 49% Discount?

Using the most recent financial data, we'll take a look at whether the stock is fairly priced by estimating the company's future cash flows and discounting them to their present value. … Generally we assume that a dollar today is more valuable than a dollar in the future, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) forecast 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Levered FCF ($, Millions) $148.9m $175.3m $198.5m $218.5m $235.7m $250.6m $263.8m $275.6m $286.6m $296.9m Growth Rate Estimate Source Analyst x1 Est @ 17.73% Est @ 13.23% Est @ 10.08% Est @ 7.87% Est @ 6.33% Est @ 5.25% Est @ 4.49% Est @ 3.97% Est @ 3.59% Present Value ($, Millions) Discounted @ 10.03% $135.3 $144.8 $149.0 $149.1 $146.1 $141.2 $135.1 $128.3 $121.2 $114.1 ("Est" = FCF growth rate estimated by Simply Wall St) Present Value of 10-year Cash Flow (PVCF)= $1.4b The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. … In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 10%.

Simply Wall St -

Does SPX (NYSE:SPXC) Have A Healthy Balance Sheet?

Debt and other liabilities become risky for a business when it cannot easily fulfill those obligations, either with free cash flow or by raising capital at an attractive price. … In order to size up a company's debt relative to its earnings, we calculate its net debt divided by its earnings before interest, tax, depreciation, and amortization (EBITDA) and its earnings before interest and tax (EBIT) divided by its interest expense (its interest cover). … Our View Both SPX's ability to to convert EBIT to free cash flow and its EBIT growth rate gave us comfort that it can handle its debt.

Simply Wall St -

Did You Miss SPX's (NYSE:SPXC) Impressive 105% Share Price Gain?

It hasn't been the best quarter for SPX Corporation (NYSE:SPXC) shareholders, since the share price has fallen 10% in that time. … We've already covered SPX's share price action, but we should also mention its total shareholder return (TSR). … Its history of dividend payouts mean that SPX's TSR of 105% over the last 3 years is better than the share price return.

Simply Wall St -

SPX Corporation (NYSE:SPXC): What Does Its Beta Value Mean For Your Portfolio?

If you're interested in SPX Corporation (NYSE:SPXC), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … This is above 1, so historically its share price has been influenced by the broader volatility of the stock market.

Simply Wall St -

What SPX Corporation's (NYSE:SPXC) ROE Can Tell Us

One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. … In my book the highest quality companies have high return on equity, despite low debt. … If you would prefer check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.

Simply Wall St -

Read This Before You Buy SPX Corporation (NYSE:SPXC) Because Of Its P/E Ratio

The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for SPX: P/E of 21.38 = $32.81 ÷ $1.53 (Based on the year to March 2019.) Is A High Price-to-Earnings Ratio Good? … The higher the P/E ratio, the higher the price tag of a business, relative to its trailing earnings. … How Growth Rates Impact P/E Ratios P/E ratios primarily reflect market expectations around earnings growth rates.

Simply Wall St -

How Financially Strong Is SPX Corporation (NYSE:SPXC)?

Investors are always looking for growth in small-cap stocks like SPX Corporation (NYSE:SPXC), with a market cap of US$1.6b. … However, an important fact which most ignore is: how financially healthy is the business? … Evaluating financial health as part of your investment thesis is

Simply Wall St -

Company Info

Description

SPX Corporation supplies infrastructure equipment serving the heating, ventilation and cooling (HVAC), detection and measurement, power transmission and generation, and industrial markets in the United States, China, South Africa, the United Kingdom, and internationally. It operates through three segments: HVAC, Detection and Measurement, and Engineered Solutions. The HVAC segment engineers, designs, manufactures, installs, and services cooling products for the HVAC and industrial markets under the Marley and Recold brands; and boilers, comfort heating, and ventilation products for the residential and commercial markets under the Berko, Qmark, Fahrenheat, Leading Edge, Patterson-Kelley, Weil-McLain, and Williamson-Thermoflo brand names. It also provides cooling towers under Marley NC Everest and MD Everest brand; water management tools through the MarleyGard brand name; filter under the BasinGard brand; and the SGS PC Industrial Evaporator. The Detection and Measurement segment offers underground pipe and cable locators, and inspection and rehabilitation equipment under the Radiodetection, Pearpoint, Schonstedt, Dielectric, Warren G-V, and Cues brands; and bus fare collection systems, communication technologies, and obstruction lighting products under the Genfare, TCI, Flash Technology, and Sabik Marine brand names. The Engineered Solutions segment provides transformers for the power transmission and distribution markets; and process cooling equipment for the industrial and power generation markets. This segment sells transformers for publicly and privately held utilities under the Waukesha brand name; and process cooling products under the SPX Cooling and Marley brand names. It markets its products through independent manufacturing representatives, third-party distributors, and retailers, as well as direct to customers. The company was founded in 1912 and is headquartered in Charlotte, North Carolina.

Details
Name: SPX Corporation
SPXC
Exchange: NYSE
Founded: 1912
$1,511,626,856
44,577,613
Website: http://www.spx.com
Address: SPX Corporation
13320-A Ballantyne Corporate Place,
Charlotte,
North Carolina, 28277,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE SPXC Common Stock New York Stock Exchange US USD 22. Oct 1998
DB SPW Common Stock Deutsche Boerse AG DE EUR 22. Oct 1998
BRSE SPW Common Stock Berne Stock Exchange CH CHF 22. Oct 1998
Number of employees
Current staff
Staff numbers
4,500
SPX employees.
Industry
Industrial Machinery
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/09 04:43
End of day share price update: 2020/04/08 00:00
Last estimates confirmation: 2020/04/03
Last earnings filing: 2020/02/14
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.