SPX (SPXC) revenue breakdown
By segment, HVAC reportable segment is the largest at 67% of fiscal 2025 revenue; Detection and Measurement reportable segment grew fastest, 14% a year over 9 years.
By product, Package and process cooling equipment and services, and engineered air movement is the largest at 41% of fiscal 2025 revenue; Communication technologies, aids to navigation, and transportation systems grew fastest, 17% a year over 7 years.
Revenue by segment
Fiscal years, as SPX reports them in its 10-K filings; fiscal 2025 total $2.3B.
| Segments | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HVAC reportable segment | $510M | $511M | $582M | $739M | $741M | $752M | $914M | $1.1B | $1.4B | $1.5B | 67% |
| Detection and Measurement reportable segment | $226M | $260M | $321M | $385M | $387M | $467M | $547M | $619M | $619M | $747M | 33% |
| Engineered Solutions reportable segment | $598M | $561M | $537M | — | — | — | — | — | — | — | — |
| Other | $138M | $94M | $73M | — | — | — | — | — | — | — | — |
Revenue by product
Fiscal years, as SPX reports them in its 10-K filings; fiscal 2025 total $2.3B.
| Products | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|
| Package and process cooling equipment and services, and engineered air movement | — | $430M | $447M | $434M | $537M | $683M | $884M | $933M | 41% |
| Hydronic heating, electrical heating, and ventilation | $300M | $309M | $294M | $318M | $377M | $439M | $481M | $585M | 26% |
| Communication technologies, aids to navigation, and transportation systems | $162M | $191M | $170M | $211M | $285M | $355M | $358M | $491M | 22% |
| Underground locators, inspection and rehabilitation equipment, and robotic systems | $159M | $194M | $218M | $257M | $262M | $264M | $261M | $256M | 11% |
| Power transformers | $374M | — | — | — | — | — | — | — | — |
| Cooling | $282M | — | — | — | — | — | — | — | — |
| Process cooling equipment and services | $187M | — | — | — | — | — | — | — | — |
| South African projects | $49M | — | — | — | — | — | — | — | — |
Revenue by region
Fiscal years, as SPX reports them in its 10-K filings; fiscal 2025 total $2.3B.
| Regions | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| United States | $1.2B | $1.2B | $1.3B | $973M | $936M | $992M | $1.2B | $1.5B | $1.6B | $1.8B | 80% |
| Canada | — | — | — | — | — | — | $17M | $48M | $111M | $193M | 9% |
| United Kingdom | $59M | $61M | $62M | $59M | $88M | $80M | $96M | $96M | $91M | $96M | 4% |
| Other | $39M | $37M | $48M | $61M | $62M | $90M | $73M | $89M | $76M | $92M | 4% |
| China | $34M | $28M | $38M | $31M | $42M | $58M | $51M | $54M | $65M | $72M | 3% |
| South Africa | $105M | $57M | $73M | — | — | — | — | — | — | — | — |
Questions
Where does SPX make its money?
In fiscal 2025, by segment: HVAC reportable segment $1.5B, Detection and Measurement reportable segment $747M.
From SPX's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.