SPX Technologies, Inc. — Earnings Quality Grade D
SPXC · Industrials
Significant concerns
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 58 days, change -0 days YoY
AR growth 13.9% vs revenue growth 14.2%
Revenue 14.2%, CFFO 16.6%. Cash follows revenue
Expense Quality
Inventory 11.5% vs COGS 13.8%. Normal
CapEx growth 142.4% is >2x revenue growth 14.2%
SG&A/Gross Profit = 52.0%. Normal
Gross margin 40.5%, change +0.2pp. Stable
Cash Flow Quality
CFFO/NI = 1.37. Profits backed by cash
FCF $0.2B, FCF/NI = 0.99
Accruals ratio = -2.5%. Low accruals
Cash $0.4B covers 73% of debt $0.5B
Balance Sheet Health
Goodwill+Intangibles $1.9B = 85% of equity. Over 50%
Debt/EBITDA = 1.0x. Healthy
Other assets grew 48.8% vs revenue 14.2%
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
Goodwill+Intangibles change 24% YoY. Normal
Manipulation Score
M-Score = -2.40 (< -2.22). Unlikely manipulator
Portfolio monitoring
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Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25